Developing a brand for Ukrainian market

You should always remember two main facts about your target audience: 1) how they define quality and 2) what amazes them to trigger the immediate "I want this" - Volodymyr Semenikhin, KSE

In a dynamic and challenging business landscape, the Kyiv School of Economics (KSE) consulting experts dedicate their time to the initiative to support small and medium-sized enterprises (SMEs) in Ukraine. Through this program, funded by the International Organization for Migration (IOM), KSE has invited 100 passionate entrepreneurs to pave the way for success in the midst of adversities caused by the ongoing war and constant bombings.

One of the experts of this initiative is Volodymyr Semenikhin. With a wealth of experience and deep understanding of brand development, marketing, and positioning, Volodymyr brings a strategic perspective to the table. His expertise, coupled with KSE's commitment to fostering economic growth, empowers SMEs to overcome challenges and unleash their full potential.

Maxim (we will not disclose the business and its exact goals in this blog) is an ambitious and curious entrepreneur who is building his business from scratch. He actively seeks opportunities and utilizes available forms of assistance such as grants and consultations, which is how he discovered KSE. Maxim dreams of creating his own consumer goods brand, but he understands that while he knows how to produce the goods he looking to market, at the same time he lacks the knowledge in strategic marketing, development, planning, and positioning.

Driven by his passion and determination, Maxim recognizes the value of acquiring these essential skills and expertise to turn his dream into reality. With Volodymyr’s guidance and support, Maxim focused on development of a strong foundation for his brand to be able to overcome the challenges that lie ahead. Together, they dove into market analysis, target audience identification, competitor analysis, and brand positioning to set the stage for a successful brand launch.

Maxim's proactive approach, combined with the strategic guidance from KSE, created a powerful synergy that catapulted his marketing discovery journey forward.

The journey began with a clear definition of the target market to be the middle-class demographic in Ukraine.

As Ukraine is an open economy, it's important for a brand to analyze not only local competition, but also consider players across the boarder. - Volodymyr Semenikhin, KSE

Here’s the summary of the past 6 meetings:

• Market analysis: To help identify key consumer trends, preferences, and market gaps.

• Target audience identification: By defining the ideal customer persona, the entrepreneur gained a deeper understanding of their target audience's needs, desires, and pain points.

• Competitor analysis: A thorough examination of competitors helps the entrepreneur determine positioning of their brand uniquely and precisely, identifying opportunities for differentiation.

• Brand positioning: Based on the market insights, a compelling brand positioning strategy that aligns with the target audience's expectations and resonates with the Ukrainian market competitive reality is set in place.

• Product development: Building on consumer insights, the entrepreneur starts identifying key features of a product line that addresses the identified market gaps and meets the demands of the target audience.

When entering a new market, either choose market growth strategy or identify the competitors, whose share you want to take over. - Volodymyr Semenikhin, KSE

During the Zoom meetings, the entrepreneur and the expert, engage in lively discussions about the latest developments in their brand creation journey. They review and analyze homework assignments, such as conducting competitor overviews and determining pricing segments. Volodymyr provides theoretical coaching on various aspects of marketing, branding, and positioning, sharing his expertise and guiding Maksim towards effective strategies. These sessions serve as valuable learning opportunities, where Maksim gains new insights and acquires the necessary knowledge and skills to steer his brand towards success. The collaborative atmosphere fosters creativity and innovation, enabling Maksim to make informed decisions and refine his brand strategy.

The process commenced with an in-depth understanding of the target consumer segment. By crafting detailed buyer personas and conducting thorough market research, KSE and the entrepreneur gained valuable insights into the preferences, desires, and aspirations of the intended audience. This exercise formed the basis for crafting a brand that would fulfill their needs effectively.

Next, by creating a price-quality map, KSE and the entrepreneur gained a clear understanding of the existing players in the market. This analysis allowed them to identify gaps and opportunities for the brand's positioning, ensuring it would offer unique value to consumers.

First, determine the positioning, and then you can begin designing a brand. - Volodymyr Semenikhin, KSE

To gauge market size and demand, primary data collection was necessary. Through innovative and entrepreneurial thinking, the entrepreneur put together comprehensive data from industry representatives and retailers. This research provided valuable insights into the assortment of products that should be included in the brand's product line, ensuring its relevance in the market.

Armed with the knowledge gained through consultations, the entrepreneur acquired a solid understanding of the decisions to be made and the skills required for successful brand development. They developed a roadmap for future actions, paving the way for the realization of their business ambitions. The value of the collaboration with KSE became evident as Maksim turns to Volodymyr on a regular basis for more guidance.

His journey of establishing a brand in Ukraine is not finished. This is a process that requires dedication, time, and careful attention to detail. Many small business owners might shy away from such a challenge, but not Maksim. He recognized the importance of seeking guidance and expertise to turn his aspirations into reality.

Maksim's path crossed with a renowned marketing expert who wholeheartedly dedicated himself to this project. But it wasn't just luck that brought them together. Maksim's proactive approach and genuine interest led him to actively seek information and assistance. And he found exactly what he needed.

The Kyiv School of Economics (KSE) consulting initiative is focused on supporting Ukrainian SMEs affected by the war, but one of its value added offers is creating a network of small businesses beyond the borders. Through the Buddy program a Canadian dynamic and curious business can join this growing community. Imagine the possibilities of bouncing ideas, exchanging expertise, and initiating collaborations with fellow entrepreneurs.

If you wonder how to become a part of this growing community, don't hesitate to reach out. We will pair you with one of our small businesses, set up a Zoom meeting where you can meet each other and create a connection where all parties can learn and help each other grow.