Market Assessment Study on the Automobile Industry: Empowering a Chassis Manufacturer with Holistic Perspectives to Develop Winning Strategies
Challenges Faced by Car Chassis Manufacturers A car chassis is the physical frame or structure of an automobile. Today, buyers of automobile prefer their vehicles to be equipped with all of the recent technologies, to avoid the hassle of going to their dealer for software upgrades. Though recent research shows that automakers have accelerated the […]
Challenges Faced by Car Chassis Manufacturers
A car chassis is the physical frame or structure of an automobile. Today, buyers of automobile prefer their vehicles to be equipped with all of the recent technologies, to avoid the hassle of going to their dealer for software upgrades. Though recent research shows that automakers have accelerated the introduction of advanced technology across all aspects of today’s vehicles, from the car chassis to braking to safety measures. The expansion of in-car infotainment systems along with the growth in technical innovations brings new challenges for car chassis manufacturers.
In the wake of technical challenges, the global automotive industry is poised to witness a change in the way companies manufacture auto parts and car chassis to respond to changing consumer needs. Up until a few years ago, automotive manufacturers catered to the needs of a very niche customer base. However, changing consumer preferences have forced car chassis manufacturers to develop innovative solutions. Several manufacturers are now being challenged to devise a solution to keep up with demand, and to do so they are increasingly turning towards automation.
Amid wrenching transformations in the global economies, relative prices, regulatory changes, technological innovations, and market dynamics the task of strategic decision making has become increasingly fraught with uncertainty. This requires stakeholders in the automobile industry to stay prepared for the most fundamental transformations that the industry has ever witnessed.
The Business Challenge
- The client: A automotive car chassis manufacturer
With an objective to identify market opportunities, the client – a leading car chassis manufacturing company – approached Infiniti to engage in a market assessment study that would help them analyze the global automotive landscape to identify new markets, assess market conditions, environmental forces, and key players in the target market. The primary objective of this market assessment study was to gather targeted information about potential risks in the automobile industry, data on market growth, risk factors, business trends, opportunities and, key players.
How Can Market Assessment Help Car Chassis Manufacturers?
Market assessment solutions help automotive companies to gain detailed insights the basic information about the market – competition, size, potential customers and, income levels. These solutions help companies to gain holistic perspectives on the business environment – economic, political, social, and technical.
To help the car chassis manufacturer gauge numerous factors influencing their growth in the automobile industry and assess the overall brand perception, the market assessment experts at Infiniti followed a strategic research approach. The approach included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders in the automobile industry and car chassis manufacturers.
Solution Benefits and the Business Impact
With the aid of Infiniti’s market assessment engagement, the car chassis manufacturer gained insights into the key parameters, which helped them uncover helpful information about brand perception and recognition. The car chassis manufacturer also gained insights on market trends that helped them make necessary adjustments in their product development approach and marketing strategies.
Leading players in the automotive sector have to team up with tech companies and software developers to develop innovative technologies that can be implemented in the automobiles. They are striving hard to offer a fully-integrated, personalized experience to the consumers. However, the advancements in AI and rise in the use of sensors and embedded systems that offer connectivity through digital platforms are expected to revolutionize the future of the automobile industry.
To know more about market intelligence solutions? Get in touch!