New Product Development #4

Brand Extension Challenge:

Identify and develop viable new products and categories that complement the

Milwaukee brand and fit target end user (Commercial Contractors).

Key Actions

  • Identified unmet need and developed detailed business case for viable brand extension
    • Conducted research with distributors and large commercial contractors
    • Validated size of market opportunity
    • Developed comprehensive product brief, competed detailed category analysis
  • Spearheaded project end to end - through entire NPD process
  • Identified and qualified external suppliers, negotiated strategic partnership including:
    • Timing, Resources, Pricing, Capital and Terms
  • Developed business case and secured management approval for a $700K capital investment in tooling

RESULTS

  • Delivered $2.5M+ in incremental revenue in New Product Category
  • Successfully extended Milwaukee brand into mobile storage / workstation solutions.

BUSINESS OPPORTUNITY | UNMET NEEDS

NEW BUSINESS SOLUTION