In today’s competitive environment, the customer base is huge, and businesses are on the verge of introducing new services and products to meet the rising demand. Before entering new markets, it becomes imperative for the manufacturers in the FMCG space to understand price fluctuations. Also, with the recent dynamism in product prices, it becomes imperative for the leading FMCG companies to focus on innovations to tap into niche market segments. An effective market intelligence engagement helps businesses understand the rival companies, market trends, and customer spending and adequately act in accordance to manage risks and improve existing suppliers’ capabilities. Leveraging effective solutions help businesses gain strategic insights into the company’s existing market, customers, and the competition, and further improve business models and projections. In the FMCG space, market intelligence can further assist companies to gain a better understanding of the customers and their product portfolios and allocate resource in an efficient manner to get the desired results.
To tap potential opportunities and develop a more detailed picture of the market, leading FMCG products manufacturers are approaching renowned solution providers like Infiniti. Infiniti’s market intelligence study helps companies gain holistic insights on the current market scenario in terms of the competitors, their offerings, and strengths and weaknesses of the competitors. Moreover, Infiniti’s solution helps businesses efficiently tailor their resources to meet the current business requirements.
The Business Challenge
A leading FMCG manufacturer with manufacturing units spread globally was facing certain predicaments gaining relevant market insights and determining the potential market opportunity. The client wanted to ascertain the demand for their product offerings and analyze information that is relevant to the company. In an attempt to determine trends and threats, the FMCG manufacturer wanted to leverage our market intelligence study to find new suppliers, manage risks, and improve knowledge. The primary aim of the client was to position their products effectively.
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To determine the current and future market opportunity and create market development metrics, Infiniti’s market intelligence experts carried out extensive research by compiling information collated from interviews and discussions with leading stakeholders in the FMCG space. Infiniti’s experts also compiled information from secondary resources such as paid industry databases, company presentations, and industry forums to make more informed business decisions.
Benefits of the Market Intelligence Solution
With the help of the market intelligence solution offered by Infiniti, the FMCG manufacturer was able to identify their key competitors and analyze their current market position. The client was also able to make the best possible use of market intelligence to underpin their marketing strategies and meet the growing demands of the customers. Also, leading retail companies were able to tailor their offerings, understand the competitors, and effectively manage their suppliers.
Additional Benefits Offered by Infiniti Include:
- Identified the pricing trends and capitalized on growth opportunities
- Effectively predicted customer behavior and improved sales and customer satisfaction
- Merchandized more effectively and discovered top-selling brands in the product categories