Subject category:
Case Method and Specialist Management Disciplines
Published by:
WDI Publishing, William Davidson Institute (EDI), University of Michigan
Version: 14 September 2023
Length: 20 pages
Data source: Published sources
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Abstract
This case follows the decision-making process of Erik Wolfe, senior product marketing manager at Sound Agriculture, an agriculture technology company, to develop a go-to-market strategy for a new product. Founded in 2013 and financed through venture capital, Sound Agriculture was generating revenue by 2020 thanks to the success of its flagship product, the foliar spray SOURCE. It is now April 2022 and Sound Agriculture needs to quickly explore options for continuous revenue growth to hedge against a potentially slower venture capital investment pace. An initial feasibility study identified a viable opportunity in entering the turfgrass market with a SOURCE-inspired derivative product. The study suggested that a 5% share of the golf course market was obtainable within five years. Wolfe has a timeline and high-level strategy but faces many challenges including: Defining the target market and developing a product name, logo and packaging; projecting future financial scenarios based on assumptions; aligning Sound Agriculture's sustainability mission with the golf course market. Students will use a supplemental MS Excel worksheet (that accompanies the case) to guide them in preparing and analyzing financial data to support their marketing strategy decisions.
Geographical setting
Region:
Americas
Country:
United States
About
Abstract
This case follows the decision-making process of Erik Wolfe, senior product marketing manager at Sound Agriculture, an agriculture technology company, to develop a go-to-market strategy for a new product. Founded in 2013 and financed through venture capital, Sound Agriculture was generating revenue by 2020 thanks to the success of its flagship product, the foliar spray SOURCE. It is now April 2022 and Sound Agriculture needs to quickly explore options for continuous revenue growth to hedge against a potentially slower venture capital investment pace. An initial feasibility study identified a viable opportunity in entering the turfgrass market with a SOURCE-inspired derivative product. The study suggested that a 5% share of the golf course market was obtainable within five years. Wolfe has a timeline and high-level strategy but faces many challenges including: Defining the target market and developing a product name, logo and packaging; projecting future financial scenarios based on assumptions; aligning Sound Agriculture's sustainability mission with the golf course market. Students will use a supplemental MS Excel worksheet (that accompanies the case) to guide them in preparing and analyzing financial data to support their marketing strategy decisions.
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Geographical setting
Region:
Americas
Country:
United States