In this rapidly changing business environment, competitive intelligence becomes an integral part of business management. Especially in the automotive components landscape, with options being displayed in several numbers of choices, the consumers are very particular when it comes to choosing their products. Additionally, to understand the competitors and retain a stronger foothold in the automotive components market, firms operating in this industry space have started advocating the need for robust competitive intelligence solutions. These competitive intelligence solutions help clients operating in the automotive components landscape to gain strategic insights into competitors’ assortments and prices; thereby, enhancing the ROI.
With years of expertise in offering a plethora of services, Infiniti’s competitive intelligence solution helps firms identify their competitors and marketing strategies adopted by them to enhance the conversion rate. Moreover, these solutions also help automotive components industry clients improve their marketing effectiveness by implementing new sales channels and offering rebates in terms of special prices.
The Business Challenge
A global automotive components manufacturer with offices spread across several geographies was facing predicaments in assessing the industry landscape in terms of the competitors, their offerings, and product positioning. Additionally, the client wanted to gain insights into the market in terms of current opportunities, regulatory issues, and the suppliers in the automotive components industry. They also wanted to effectively streamline product information across channels, systems, and trading partners.
To gain insights into the market landscape and key competitors, the client contacted Infiniti’s team of competitive intelligence experts. The competitive intelligence experts at Infiniti carried out a holistic approach including interviews and discussions with leading stakeholders in the automotive components industry. Furthermore, the client was able to compile information from various exclusive sources such as company presentations, newsletters, industry forums, paid industry databases in the automotive components industry.
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Competitive Intelligence Solution Benefits
- Evaluated the industry and identified key areas of improvement
- Gained insights into the effectiveness of competitors’ product portfolio and market positioning
- Gained actionable insights and devised effective strategies
- Optimized inventory management and tracked the stocks in real-time
- Helped the client to stay ahead of the competition
Benefits of Our Integrated Approach
The competitive intelligence solution helped the automotive components firm to gain a deeper understanding of the competitor’s pricing strategy and pricing trends influencing the market space in just 12 weeks. Additionally, the client was able to identify the volume of sales per product and efficiently calculate the profit margins of products. This helped the client in making informed business decisions.