Industry Benchmarking Engagement: How Infiniti’s Strategic Intelligence Solutions Assisted a Global Retail Services Client to Devise an Effective Product Differentiation Strategy
In the last couple of years, the relentless growth of technology and surplus information have changed the landscape for the businesses in the retail services space. Now, meeting the audience’s requirements seems much simpler than ever before and many businesses in the retail space are facing the need for a business strategy to create more […]
In the last couple of years, the relentless growth of technology and surplus information have changed the landscape for the businesses in the retail services space. Now, meeting the audience’s requirements seems much simpler than ever before and many businesses in the retail space are facing the need for a business strategy to create more personalized offerings for the customers. In the retail services space, creating a business strategy is all about prioritizing objectives, benchmarking services, and optimizing financial performance to target the relevant business prospects. Moreover, with the help of an effective business strategy, leading retail services providers can introduce new products or refine their existing product offerings to keep pace with the competitors. With the help of a product differentiation strategy, companies in the retail space can build brand loyalty and quickly recover their production and marketing costs.
To effectively deal with competition and improve their brand positioning strategy, leading retail services providers are approaching renowned solution providers such as Infiniti. Infiniti’s business strategy helps renowned retail services providers evaluate market expansion techniques and develop robust business development strategies to set their target objectives. Moreover, businesses can determine their set of target goals and streamline their knowledge and expertise to meet their target segment’s requirements.
The Business Challenge
A leading retail services provider with a considerable number of service offerings was facing certain predicaments connecting with their customers and delivering personalized service offerings. The client wanted to spread brand awareness, attract new customers, and retain the most profitable customers. By implementing an effective business strategy, the client wanted to design their own “marketing blend” to promote their services and enhance their offerings across niche market segments. Furthermore, the primary concern for the client was to re-evaluate their target audience and prioritize their resource allocation and investment.
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To improve productivity while cutting down on costs associated with products, Infiniti’s experts carried out extensive qualitative and quantitative research and conducted interviews with the leading stakeholders in the retail services space. While the retail space is witnessing steady growth, Infiniti’s strategy experts wanted to devise a robust strategy by compiling information across a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.
Benefits of the Solution Offered
The renowned retail services provider was able to leverage Infiniti’s solution to stay up-to-date in the marketplace, enhance their product offerings and improve their business strategy. The engagement also helped the client assess the firm’s strengths, weaknesses, and opportunities and adequately allocating the resources to meet the business requirements. Moreover, the client was able to further improve the quality of the services offered. In this competitive environment, it becomes vital for any organization to effectively compare their product portfolios with that of the competitors. The business strategy engagement solely focused on identifying the competitors and offering more consumer-focused products to spur sales.
Additional Benefits Offered by Infiniti Include:
- Prioritized objectives, competed successfully, and optimized financial performance
- Aligned brands with opportunities to go on par with altering consumer preferences
- Enhanced the sales of products using variety of marketing methods
- Improved customer confidence and stock prices of the products
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the retail services space