With the implementation of stringent government regulations pertaining to carbon emissions and high capital requirements, energy companies have started facing challenges when it comes to increasing their profit margins.
Owing to the recent technological improvements and environmental concerns, the renewable energy industry is witnessing a transformation towards a service-driven economy. With this recent shift toward a service-driven economy, leading firms in the renewable energy industry space are insisting on supplying energy with greater energy efficiency and productivity. Moreover, rising population and energy efficiency awareness are influencing firms to shift toward renewable energy sources.
There a few factors impacting the overall growth of the renewable energy industry. These factors include:
- Strict government regulations: Firms operating in the renewable energy space are integrating a series of regulations and laws to control energy prices, reduce competition, and narrow down the imports to further promote the use of renewable energy
- Initial capital investments: Companies operating in this industry space are moving toward alternate renewable energy sources as most of the countries across the globe rely on fossil fuels for their everyday energy consumption. However, the process of bringing about developments in the renewable sources require a significant amount of capital investment
To overcome these challenges and stay competitive in today’s dynamic market space, firms are leveraging the use of robust market intelligence solutions. Market intelligence solutions help companies effectively build marketing and sales strategies to position themselves across the industry better. These solutions also help companies gain a deeper understanding of the competitors and product positioning strategies.
The Business Challenge
- The Client: Renewable energy provider
- Area of Engagement: Market intelligence
The client, a leading provider of renewable energy, wanted to gain a comprehensive overview of the company’s existing market presence, customers, challenges, and the competition prevailing across the industry space. They also wanted to gain an in-depth understanding of the market dynamics and accordingly devise robust marketing and product positioning strategies to stay ahead of the competition.
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To help the renewable energy company devise robust marketing and product positioning strategies, the market intelligence specialists at Infiniti carried out extensive research and interviews with prominent stakeholders in the industry. They also collected information from various secondary sources such as paid company presentations, industry databases, and industry forums.
The Solution Offered and the Business Impact
The market intelligence solution offered by Infiniti helped the renewable energy provider gather information on various data sets and evaluate information across multiple sub-segments. They also tailored marketing campaigns and product positioning strategies to cater to the needs of the customers. The client also gained detailed information relevant to company’s markets and made informed business decisions across their business units.
With the recent shift toward renewable sources of energy, leading firms in the energy sector are redefining their existing business models to a more personalized approach to meet the needs and demands of the customers better and manage their operating costs efficiently.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the energy industry