We needed a partner that could identify and flesh out high potential growth opportunities for the Boomer market. Our team from CMB and South Street were a great match: they were collaborative and the approach was comprehensive and forward-looking. The insights from this project were invaluable as we created Culturious from concept to award-winning brand.
Jeremy Palmer, Vice President; General Manager TWD Land, Events & New Ventures, Tauck
The Travel and Entertainment practice at CMB and principals from South Street Strategy Group used a multi-method, multi-source approach to:
- Select top opportunities to focus on
- Ideate across functions with executives and senior managers, leveraging insight and experience in the market
- Research and assess the competitive landscape and baby boomers’ core travel goals and needs—particularly un-met needs
- Test alternatives to guide product development and pricing and to identify target guests who are most interested in the new product line
- Identify acquisition targets in the travel industry, new business models, and new product offerings by leveraging core competencies that would create significant value for the company and address baby boomers’ needs
- Work with the CEO, CFO, and COO and the New Ventures Group to ensure recommendations were aligned with business constraints and addressed operational challenges and met business goals
Tauck launched the Culturious brand as a totally new product line on-time and with unanimous board approval. The new brand, which currently consists of 8 packages and destinations, meets customer needs by offering small-group tours geared toward active baby boomers with an interest in active, culturally engaging travel. The brand has won awards, including the 2010 Innovation prize from the Connecticut Quality Improvement Award Partnerships (CQIA).
About South Street Strategy Group
South Street Strategy Group combines the best of strategy consulting and marketing science to develop growth and innovation strategies for leading companies across a range of industries. Our fact-based process combines the best in marketing science and strategic analysis to develop highly differentiated, customer-centric strategies for new market segments, new products, and new business units.