Over the past few years, the food packaging materials industry has embraced sustainable packaging solutions to ensure the safety of individuals and the environment throughout its life cycle. However, the food packaging materials industry players are facing enormous challenges in developing new packaging materials that protect food throughout the supply chain while being compostable, recyclable, and produced with renewable energy or even edible at the same time.
To target new and niche markets and benchmark competitors’ offerings, companies in the packaging materials industry have started adopting robust competitive intelligence studies. Competitive intelligence studies allow businesses in the food packaging materials market space to gain an understanding of their competitors and their products and act accordingly to provide best-in-class offerings. Also, the companies can gain insights into the prevailing trends and better define the target audience.
With the help of Infiniti’s competitive intelligence solutions, packaging materials industry players can devise an effective market entry strategy and gain a stronger foothold in the market.
The Business Challenge
In recent years, the food packaging materials industry has started witnessing the entry of several competitors due to its high growth prospects. As a result, a leading packaging materials provider wanted to gain a deeper understanding of the scope and size of the market landscape. The client also wanted to gain insights into the competitive landscape in terms of the competitors and their offerings.
To identify different potential market segments and devise an effective market entry strategy, the client contacted Infiniti Research. Infiniti’s team of competitive intelligence analysts conducted a comprehensive approach that included interviews and discussions with leading stakeholders. Additionally, Infiniti’s competitive intelligence analysts created a database comprising of information from various proprietary sources such as company presentations, industry experts, and leading news aggregators in the industry.
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Competitive Intelligence Engagement Solutions Benefits
- Gathered and analyzed information on the competitors and their offerings
- Gauged and estimated the market size and devised an effective market entry strategy
- Evaluated the primary demand drivers and estimated the industry level margins
- Accumulated information about stakeholders to predict the future market conditions
Benefits of Our Integrated Approach
In a span of mere 14 weeks, the client was able to devise an effective market entry strategy and assess the effectiveness of competitors’ product marketing strategies. Additionally, the engagement assisted the food packaging materials industry client to shape counter-competitive strategies against their competitors. The client was also able to enhance their financial and marketing operations.