When Prairie Mills, an agricultural company, was considering going to
market with their own new brand of corn masa, the traditional corn flour
used for tortillas, Element Three was engaged to study the market and
determine if there was space for the offering.
Engaging its proprietary
Deep Dive audience research process, Element Three met first with Latino
consumers in the Midwest to learn about how masa fit into their lives.
Then they studied the competitive landscape, checking out the baking and
international sections of grocery store shelves. They looked at share
of market, annual expenditure and potential for success based on the
expected expenditure needed to enter the market. A name, El Gallo Dorado
or The Gold Rooster was developed, along with a visual brand mark and
early package design.
Element Three advised against launching the brand
due to an already crowded marketplace and the company’s inability to
enter the market at a competitive price-point. Sometimes the smartest
thing to do is to walk away.