Competitive Intelligence Assessment for the Lighting Sector
Penetration of LED lighting in the market has played a major role in the growth of smart lighting technologies across the globe. Due to its greater energy efficiency, consumers are switching from incandescent light bulbs to LED bulbs. With escalating concerns for the well-being of the environment, smart, wireless lighting controls are paving its way […]
Penetration of LED lighting in the market has played a major role in the growth of smart lighting technologies across the globe. Due to its greater energy efficiency, consumers are switching from incandescent light bulbs to LED bulbs. With escalating concerns for the well-being of the environment, smart, wireless lighting controls are paving its way to the lighting industry. Smart wireless lighting controls enable users to control lighting for various connected devices. Despite the emerging trends in the lighting industry, manufacturers still find it difficult to invest in new technologies. The current lighting industry is a non-standardized market. The industry is posing a threat to retailers especially as they can never compromise on the look and feel of their outlets while trying out new lighting technologies.
Infiniti’s account intelligence assessment helps the client in identifying potential stakeholders and decision makers responsible for lighting solutions with the help of account-based marketing strategies. The account-based marketing strategies allow retailers and manufacturers in the consumer lifestyle, healthcare, and lighting sectors to focus on the precise market. By assessing over 100 companies, our competitive intelligence team developed a list of 10 target companies for a deeper dive. Further, a thorough analysis of the shortlisted companies was performed to develop an understanding of lighting solutions’ demand and gather contact details for the key decision makers.
The Business Challenge
With an aim to improve sales and revenue, the client – a multinational company that manufactures consumer lifestyle, healthcare, and lighting products – approached Infiniti to engage in a competitive intelligence study. The scope of this engagement was to identify and obtain information on the key stakeholders and decision makers responsible for lighting solutions. A deep dive assessment of potential companies was performed to gather contact details of the important decision makers to develop effective account based marketing strategies.
The primary objective of this competitive intelligence study was to help the client evaluate and refine a large database of companies across the US and Canada. Additionally, the client also wanted to create account based marketing strategies for ten chosen companies. The competitive intelligence team proposed a blended research approach consisting of proven research methodologies, followed by an in-depth analysis of market journals for this engagement. We deployed our experienced project management team which has considerable expertise in conducting account intelligence studies specific to the lighting and allied industry segments.
Why Infiniti Research is the preferred partner for more than 55 Fortune 500 Companies
Competitive Intelligence Solutions Offered and Business Impact
By understanding and defining the exact needs of the client, the competitive intelligence team through proprietary and open source information sources built an initial repository of information and data points to identify key stakeholders. Semi-structured and structured interviews and discussions with purchase decision makers, company stakeholders, business executives, and decision makers in the target companies helped the team in validating the obtained information to ensure accuracy. The research team analyzed various industry research reports to gain insights into the market landscape and leading players in the lighting solutions market. The team offered actionable insights with Infiniti’s existing knowledge base and industry associations, information on market players, discussions with the stakeholders of interest, channel partners, and regulatory environment.
In just eight weeks, the client – a multinational company that designs and manufactures consumer lifestyle, healthcare, and lighting products – was able to create effective account based marketing strategies for the identified top 10 companies. By following a blended research approach, the client was able to evaluate and refine a large database of companies across the target regions. The solutions also offered insights on the current lighting needs and purchase decision making process of the competitors.
Benefits of our Integrated Approach
In a span of eight weeks, the client saw clear advantages from this competitive intelligence engagement. The client was able to identify and obtain information on key stakeholders/decision makers responsible for lighting solutions, among other details, for up to ten chosen companies. The assessment also involved an analysis of 100 companies to develop a list of ten target companies for a deeper dive. The study consisted of structured interviews with decision makers for the final ten companies to understand their expectations and perceptions. The solutions assisted the client in identifying potential companies across the US and Canada for their account based marketing strategies.
Here are some of the key points appreciated by our clients
- Dedicated Competitive Intelligence Assessment Portal. A centralized platform for the collection, storing, processing, reporting, and dissemination of information with the specific purpose of assisting the decision-making process and developing actionable insights. This portal includes comprehensive information on quantitative and qualitative aspects on target markets, competitors and end-users.
- Collaborative learning. We leveraged the experience of our healthcare team and our technical capabilities to enable report-sharing and other collaborative features appreciated by client teams.
- Database Access. Access to a patient database containing information about 60+ medical diseases and conditions, such as patients undergoing treatment, untreated patients, and patients with chronic conditions.
- Interactive Dashboard. Using our portal based solution for healthcare professionals, we took a design-first approach to problem-solving and helped break through previously held assertions.
- Value for Money. Infiniti’s dedicated client management team customizes reports to suit business requirements and offers the best insights for every dollar spent.
A must-read competitive intelligence study for strategy experts and decision makers looking to obtain information on key stakeholders and decision makers responsible for lighting solutions with the help of account-based marketing strategies.
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