Competitive Intelligence Helps a Leading Pipes and Fittings Equipment Manufacturer Compare Product Pricing
Today’s industrial and manufacturing space is witnessing an increase in the demand for customized products that meet end-users’ demands. Also, the customers in the pipes and fittings equipment space are looking for products and services with better quality and shorter delivery times. To effectively meet the end-user demands, leading manufacturers in the pipes and fittings equipment space are […]
Today’s industrial and manufacturing space is witnessing an increase in the demand for customized products that meet end-users’ demands. Also, the customers in the pipes and fittings equipment space are looking for products and services with better quality and shorter delivery times. To effectively meet the end-user demands, leading manufacturers in the pipes and fittings equipment space are adopting solutions such as competitive intelligence. In the manufacturing sector, competitive intelligence helps customers gather and analyze relevant information on the competitor’s activity and devise a robust business strategy. Furthermore, manufacturers in the pipes and fittings space are shaping their prevailing architecture to launch new products, enter new markets, and benchmark their offerings with that of the competitors.
With the recent revival of the European economy, renowned players in the pipes and fittings equipment space are looking out for promising solutions to better understand the efficacy of competitors’ product marketing strategy. With the scope of attaining the desired goals, the client approached Infiniti’s competitive intelligence experts. Infiniti’s experts helped the client understand the current product pricing scenario and devise an effective strategy to breach across niche market segments.
The Business Challenge
Due to the recent growth in construction activities across the globe, the market for pipes and fittings is becoming highly competitive, with numerous competitors offering a plethora of new products and services. A renowned pipes and fittings equipment manufacturer with a considerable number of service offerings across the globe was facing predicaments understanding the competitors and comparing the pricing of products. Furthermore, the client wanted to understand the industry development trends and marketing channels to devise an effective product marketing strategy. Furthermore, the client wanted to leverage the use of competitive intelligence solutions to better understand the feasibility of investment projects and the demand for pipes and fittings in the current market landscape.
With expertise in offering services for the manufacturing industry, Infiniti carried out an extensive research comprising of interviews and discussions with leading stakeholders in the pipes and fittings market space. Also, to allocate resources effectively; the client followed an extensive data collection methodology, which included the accumulation of data from proprietary sources such as paid industry databases, company presentations, industry forums, etc.
Competitive Intelligence Solution benefits:
- Gathered and analyzed the obtained information to predict competitive activity and influence future business operations and strategy
- Determined the current market positioning in relation to the other competing businesses
- Understood the product pricing and profiled the key players in the pipes and fittings space
- Made changes to the prevailing product strategies and improved market visibility
- Understood the marketing strategies of major competitors and devised effective ways to approach their customer segments
Benefits of Our Integrated Approach
After gaining comprehensive information into the pipes and fittings market space, the client was able to map competitors’ market growth potential, marketing strategies, and communication channels. Also, the competitive intelligence solution provided by Infiniti Research helped the client to identify and rank the most effective promotion channels and increase their visibility across niche market segments.