In recent years, the CPG industry has started witnessing slow consumer spending with the declining GDP growth and currency weakness. At the same time, with the fluctuations in the consumer’s needs and habits, leading CPG firms should ideally stay ahead of the competition to go on par with the mass-shopping behavior. Also, in the CPG industry, it’s always better to understand the competitors to better position products in the market space.
To remain competitive and stay ahead of the curve, leading businesses in the CPG industry are relying on competitive intelligence solutions. Competitive intelligence assists businesses to gather and analyze information to help make better-informed decisions. As the market for CPG is shifting toward innovations, competitive intelligence helps businesses anticipate challenges and face potential obstacles. Moreover, leading businesses in the CPG industry can better understand the supply-demand relationship to create an accurate prediction of future market conditions.
To gain a better picture of the current market space and build new strategies, a leading CPG manufacturer approached Infiniti. Infiniti’s competitive intelligence solution helps businesses in the CPG industry profile the potential competitors and make informed business decisions.
The Business Challenge
A leading CPG client with a considerable number of manufacturing units across the globe was facing predicaments keeping updated with the new trends and gaining detailed profiles of new competitors. With the help of a competitive intelligence study, the client wanted to understand the actual consumer behavior and deliver customized offerings to the customers to capture more market value. Furthermore, the client wanted to collect relevant information about competitors’ strategic intentions and business capabilities and increase competitive maturity. The primary aim of the client was to stay updated on the social media trends to understand the market effectiveness.
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To help the client gain a competitive advantage over their peers, the competitive intelligence experts at Infiniti carried out both qualitative and quantitative research and interviewed prominent stakeholders in the CPG space. Moreover, to assess the market effectiveness of the product, Infiniti’s experts also compiled information from secondary sources such as news media, industry experts, and trade shows and conferences.
Benefits of the Competitive Intelligence Solution
The competitive intelligence solution offered by Infiniti helped the CPG client focus on short-term goals and increase revenues. The engagement offered by Infiniti also helped the client profile the potential competitors that account for a majority share of the market and make better-informed business decisions. The solution offered also helped the client identify lucrative markets and offer a differentiated set of products, and dynamically fine-tune marketing efforts to gain a competitive advantage over the counterparts.
Additional Solutions Offered by Infiniti Include:
- Understood the competitive scenario and increased profit margins and boosted the stock prices of the products
- Effectively gauged the market opportunities and drove continual efficiency
- Gained deeper insights into the price-sensitive customers and identified specific channels and SKUs to reach out to niche target segments