For any organization to prosper and enter new markets, collecting and analyzing information about the competitor’s strengths and weaknesses is of prime importance. A competitive intelligence study offers a comprehensive outline of the competitive environment in which a business operates, as well as detailed competitor profiles, expansion records and plans, investment plans, and company characteristics. Infiniti’s competitive intelligence helps businesses overcome industry challenges quickly and effectively to gain an edge in a global marketplace. Our analysts have extensive experience in global markets across diverse sectors, including healthcare and pharmaceuticals to chemicals, hardware and manufacturing and the construction industry.
Over the past decade, convenience hardware market has witnessed ups and down, owing to fluctuations in economic variables such as household income, consumer sentiment, and trends in home renovation. Strong economic growth, rapid urbanization, increasing disposable income, and rising standard of living are some of the primary factors fueling the growth of this market. Although the market for convenience hardware has shown a surge, it is subjected to several changes owing to growing environmental concerns and resulting changes in production techniques.
The Business Challenge
A hardware manufacturing company based out of the US was facing challenges analyzing the overall market landscape of the convenience hardware market in North America. The client was looking at expanding its market presence and so wanted a detailed analysis of the competitors and the various distribution channels in the market.
Our Research Methodology
To offer strategic insights into the market, our market intelligence experts carried out extensive primary research comprising of interviews and discussions with relevant business and industry experts, channel partners, analysts, consultants, manufacturers, and distributors. As a part of the secondary research, our experts collated information from proprietary databases such as company publications, relevant websites, and industry forums.
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Our Solution Helped the Client
- Assess the competitive landscape of the market
- Identify broad channels of distribution
- Identify the existing competitors in the market and their market potential
- Assess the penetration level of the convenience hardware market in the target regions
Benefits of Our Integrated Approach
In a short span of five weeks, the client gained a detailed understanding into the competitive landscape including the key competitors and their current market shares of the convenience hardware market in North America. Based on our actionable insights, the client was able to classify the brands based on priorities of the users in the market and devise effective growth strategies.