To stay competitive in today’s competitive market landscape, global chemical companies are facing the need to validate new market opportunities and identify new market segments with high growth potential. Also, with China accounting for a majority of the production lines, leading chemical companies are planning to increase their product offerings to stay relevant in the market. Market opportunity assessment helps chemical companies in prioritizing the market segments and evaluating the impact of new product launches in the market. Also, chemical companies can leverage the use of market opportunity analysis to segment the customers with similar needs and improve their product portfolios with the aid of a defined go-to-market strategy.
To evaluate the varied needs, requirements, and preferences of each market segment, leading chemical companies are approaching renowned solution providers such as Infiniti. The market opportunity assessment offered by Infiniti helps clients profile the key customers and understand the current price levels of the products offered. With the aid of our robust data-driven approach, chemical companies can tap opportunities for entering new markets and expand their presence in the chemical industry.
The Business Challenge
A leading chemical industry client with a considerable number of manufacturing units spread across the globe was facing challenges gaining a comprehensive understanding of market opportunities. The client wanted to understand the competitive landscape and identify the most profitable market segments. In the chemical industry space, it’s pivotal to understand the current offerings and devise effective strategies to enhance the market presence. The primary aim of the chemical client was to assess the key drivers, barriers to market entry, and reduce bottlenecks to improve business performance.
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To understand how stakeholders are currently identifying new market segments for future investments, Infiniti’s market opportunity assessment experts followed a blended research methodology, which included qualitative and quantitative research and an analysis of the recent developments within the chemicals industry. The industry experts also compiled information from a wide array of secondary sources such as industry forums, paid industry databases, and company presentations.
Benefits of the Solution offered and the Business Impact
The market opportunity assessment helped the client identify the existing pain points and eminent factors that are influencing their growth in the chemical industry. Through this engagement, the client was able to identify new market opportunities and address the needs, requirements, and preferences of the customers. The chemical company was also able to profile key customers and understand the current pricing structure of the products offered.
Additional Benefits Offered by Infiniti Include:
- Devised a robust SWOT assessment to understand the market requirements and barriers to entry
- Helped gain a comprehensive understanding of the competitive landscape, key drivers, and unmet needs
- Identified the growth opportunities for launching new products in the chemical space