Market Segmentation Helps a Leading Packaging Materials Supplier Understand the Current Market Scenario
With the relentless demand for sophisticated packaging among the consumers, the suppliers in the packaging materials space are witnessing increasing pressure to deliver promising solutions that satisfy consumers’ expectations. Also, with the rising economic uncertainty, leading packaging materials manufacturers are looking for effective ways to improve their supplier performance in an agile and seamless manner. To […]
With the relentless demand for sophisticated packaging among the consumers, the suppliers in the packaging materials space are witnessing increasing pressure to deliver promising solutions that satisfy consumers’ expectations. Also, with the rising economic uncertainty, leading packaging materials manufacturers are looking for effective ways to improve their supplier performance in an agile and seamless manner. To target the right audience and position their products effectively, leading manufacturers in the product packaging space are advocating the need for market segmentation. With the help of market segmentation analysis, suppliers in the packaging materials space can proactively focus on their marketing efforts and analyze appropriate customers. Also, market segmentation can provide better insights on the customers in terms of their buying preferences and allocate their marketing energy and force into a specific direction.
To identify target groups and aggressively market the products to these defined target segments, renowned suppliers in the packaging materials space are approaching companies like Infiniti. Infiniti’s experts help companies segment the market based on user preferences and create a successful marketing campaign. Renowned companies can further leverage market segmentation to improve their competitiveness and profitability.
The Business Challenge
A renowned packaging materials supplier with a considerable number of offices spread across the globe was facing predicaments understanding the current market scenario and positioning their products. The client wanted to uncover the characteristics of the market and target specific market segments. In addition, the packaging material supplier wanted to conduct a market segmentation study to identify ways of dividing and approaching the market. The primary objective of the engagement was to develop, market, and service resources to further multiply the marketing and service efficiency.
To identify the target audience and effectively devise their marketing campaigns, our market segmentation experts carried out extensive research comprising of interviews and discussions with leading stakeholders in the packaging materials space. Furthermore, to gain more insights into the segmentation, Infiniti’s market segmentation experts also compiled information from various proprietary sources such as paid industry databases, company presentations, and media platforms.
Market Segmentation Solution Benefits:
- Identified market segments and evaluated the needs and wants of different market segments
- Discovered new segments and business opportunities and devised effective ways to position their products
- Tailored the marketing mix to meet the specific needs of the consumers
- Justified the marketing efforts to boost customer loyalty
- Improved brand recognition and the profits generated
Benefits of Our Integrated Approach
With the help of the market segmentation study, the client was able to identify the target segments and cater to the specific needs of the customers. Furthermore, the packaging materials supplier was further able to evaluate their core competencies and create a strong foothold in the market. Also, the market segmentation engagement helped the client tailor the offerings based on customer preferences and proactively meet the customer needs.