Competitive analysis is an indispensable part of any company’s marketing plan. It helps organizations evaluate their competitors by placing them in strategic groups in terms of products, profitability, growth pattern, marketing objectives, and cost structure. Also, with the help of competitive intelligence, businesses can gain a clear understanding of the local market and the ways to refine strategic business decisions. By adopting competitive analysis solutions, businesses can identify opportunities for differentiating the products and services as compared to their competitors.
Infiniti’s competitive analysis solution helps the client effectively identify the competitors in terms of the organization’s size, market share, comparative productive quality, and growth. The engagement also helps companies assess the relative strengths and weaknesses and develop effective marketing strategies. Our competitive analysis solution also helps the client develop effective growth strategies to gain better ROIs.
The Business Challenge
A major food and beverage company wanted to formulate a strategy in the foodservice channel to tap potential market opportunities and gain a strong market foothold. The client also required a detailed competitive analysis to understand the dynamics of the market space. However, even though the management had the necessary capital to invest heavily in the opportunity; they were hesitant owing to their lack of knowledge on the competitors and their sales and market share, offerings, and marketing strategies.
To gain actionable insights on the competitive landscape, the client approach Infiniti to thoroughly understand the market and competitor environment. Infiniti’s competitive analysis experts also carried out extensive research comprising of interviews and discussions with stakeholders in the food manufacturing landscape. Also, Infiniti’s experts collated information from proprietary sources to assess the size and growth of the market, determined customer needs, and analyzed essential value chain components.
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Competitive Analysis Solution Benefits
- Improve the offerings through robust innovation in product and services
- Put together a schedule of product launches for competing brands
- Develop business and marketing strategies that combat or better competitors’ offerings
Benefits of Our Integrated Approach
In a span of four weeks, Infiniti’s competitive analysis solution assisted the client to develop a better product and brand concept, which, in turn, helped in developing an effective go-to-market strategy. The engagement also helped the client understand evolving customer needs and devise effective strategies to enhance their product offerings in the market. The engagement also derived a comparison of competitors in terms of both qualitative and quantitative parameters.