The Business Challenge
A renowned client in the food industry with a considerable number of product offerings across the globe was facing certain predicaments gaining a detailed analysis of the competitors and their sales and market shares. The client wanted to develop robust promotional and marketing strategies to gain a competitive advantage over its competitors using a food industry competitor analysis template.
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Moreover, the client wanted to profile major competitors in the food industry, assess the latest food industry trends and understand their current marketing initiatives. With the help of food industry competitor analysis, the client wanted to analyze food companies’ performance and their capabilities and make a comparison of the competitors in terms of the qualitative and quantitative parameters.
Our Integrated Approach
The competitor analysis engagement offered by Infiniti helped the client gain a competitive edge over their counterparts. The food industry client was further able to maintain and develop a sustainable value for the products offered. Moreover, with the help of the competitor analysis engagement, the client was able to build a more comprehensive business strategy and ensure better consistency for the products offered.
To profile potential competitors and develop robust strategies based on the analysis of competitors, Infiniti’s competitor analysis experts carried out extensive qualitative and quantitative research with leading stakeholders in the food industry. Furthermore, to gain a deeper understanding of the potential competitors, the experts at Infiniti also compiled information across a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.
Food Industry Competitor Analysis: Benefits
In the quest to meet the consumers’ demand, renowned manufacturers and food suppliers are looking for promising solutions to deliver variety, affordability, and safety in their product offerings. The competitor analysis helps firms in the food industry:
- Effectively monitored competitors pricing strategies and proactively took informed business decisions
- Compare the performance of the competitors and identified opportunities to differentiate the products and services
- Remain updated about the advertising campaigns in terms of the competitor’s brand, positioning, and target market
- Gaine a better visibility into the market landscape in terms of the market position and brand strategy
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Emerging Trends in the Food Industry
At present, the structure of the food industry is witnessing a robust change with the relentless demand for high-quality products among the consumers. In the quest to meet the consumers’ demand, renowned manufacturers and food suppliers are looking for promising solutions to deliver variety, affordability, and safety in their product offerings.
To gain a first-hand knowledge of consumers’ preferences and to remain abreast of competitors’ offerings, renowned producers in the food industry are reorienting their business strategies with the help of a competitor analysis study. In the food industry, manufacturers can leverage competitor analysis to efficiently monitor competitors pricing strategies, understand new foods industry trends, and proactively augment retail strategies to compare their performance against the competitors.
Implementing a robust food industry competitor analysis study also helps leading food manufacturers to measure the brand and advertising awareness among the competitors and efficiently assess customer satisfaction with these products.