Infiniti’s Competitive Intelligence Solution Helped a Food and Beverage Industry Client to Comprehend Competitors’ Business Strategy and Enhance Sales Rate by 40%
Business Challenge As the world is facing quick changes in lifestyle and food preferences, leading companies in the food and beverage industry are building new business strategies to keep up with the modern trends in the market. With this, companies that are ignoring the changing demands of the market are finding it really difficult to [...]READ MORE >>
As the world is facing quick changes in lifestyle and food preferences, leading companies in the food and beverage industry are building new business strategies to keep up with the modern trends in the market. With this, companies that are ignoring the changing demands of the market are finding it really difficult to sustain their business. This has made it vital for companies in the food industry to examine the key competitors and their marketing strategies. Infiniti’s competitive intelligence solutions have helped various organizations to gather comprehensive insights into the key competitors and their product offerings to plan a robust business strategy.
The client, a food and beverage company in Central Europe was losing ground to a new market entrant in the region. This led to a decline in their sales rate, which subsequently affected their profit margin. To make up for the lost sales, the client realized the need to respond faster to their competitor’s initiatives. But to do so, they required a detailed understanding of their competitor’s strengths and vulnerabilities. This prompted them to collaborate with Infiniti Research to track their competitor’s actions and develop a robust competitive intelligence strategy.
To help the client analyze the competitive structure and market environment, the experts at Infiniti Research carried out food and beverage market research and interacted with prominent stakeholders across the segment. This helped the client analyze comprehensive insights relating to the key competitors. Also, early warnings of the competitor’s campaigns helped the client to optimize their campaigns to outsmart the global competition. Moreover, with the help of our competitive intelligence solutions, the client successfully surpassed the global competition and increased their sales rate by 40%, capturing a top spot in the global food and beverage market.
What is Competitive Intelligence?
Competitive intelligence is the process of monitoring competitors, understanding their market plans, and formulating better business strategies. Competitive intelligence process also helps firms to focus on their competitors’ key strategies by keeping track of their current activities and capabilities.
Benefits of Competitive Intelligence for Businesses
Competitive intelligence solution aids in gathering and evaluating the information about a company’s peers. Competitive intelligence solutions can further assist companies to make better-informed decisions about their product positioning and marketing strategies. Furthermore, they help companies to evaluate the strengths and weaknesses of the competitors and identify signals of disruptions in the global market.