Category: Thoughts

telehealth services

Category Scan: Telehealth Services Market Innovations and Updates 2019

When it comes to the telehealth services market, our experts predict that the industry has reached a tipping point. Increasing consumer demand, technological advancements, and innovative research activities have reached a stage where the law of accelerating returns states that “technological advances will be exponential rather than linear.” Which basically means that with technology becoming increasingly effective, greater resources will have to be dedicated to furthering its reach and impact.

The article below scans the category for telehealth services in its entirety to help healthcare companies understand and stay abreast of the latest news, innovations, and market developments.

Telehealth Services: Recent Innovations and Market Updates 2019

Emerging innovations in the self-service arena

Technological innovations like artificial intelligence are gradually finding their way into telehealth services. The use of such tech trends in telehealth apps not only guides patients through a series of questions and collects data but are also capable of interpreting these user responses. This means that a tremendous amount of groundwork can be completed before the patient connects with the provider, making clinical interactions more efficient and focused.

Direct to consumer market has matured

Direct to consumer is one of the commercially successful telehealth services segments that has attracted the maximum health technology investment. A couple of telehealth services providers own a significant chunk of the market share in the direct to consumer market.  It encompasses several products and services and enables the highest level of quality and cost-effective healthcare for patients, irrespective of their geographic location. However, healthcare systems struggle to turn this form of technology into a profitable revenue stream as consumers have been slow to adopt this model. It attracts a new set of consumers who might not otherwise use medical services, thereby, driving costs up.

Our portfolio of services for the healthcare industry has helped leading providers to gain a front-line advantage. Request a free brochure to know how we can help transform your telehealth services business!

telehealth services

Telemedicine kiosks to dispense prescription medication

Although the use of self-service kiosks in hospitals and clinics are becoming common, the use of kiosks to provide healthcare assistance outside hospital premises is a fairly new concept in healthcare. A company based out of the US recently launched telemedicine service kiosks that can dispense prescription medications. These kiosks are primarily aimed at patients with non-life threatening conditions like colds, rashes, and fever. The company claims that its HIPAA compliant telemedicine stations can be deployed in airports, hotels, colleges, and large private employers. Their telemedicine station is equipped with thermal imaging capability to detect body temperature and diagnose infections. It also helps in analyzing height, weight, and blood pressure. Each unit also includes a locked dispensary, which contains a number of the most commonly prescribed medications in the most commonly prescribed dosages, which can be prescribed at the end of a telehealth visit. Such innovative telehealth services will be highly useful in providing faster and easier healthcare access to patients.

Provider collaboration offering opportunities for growth

Provider collaboration could play a major role in enhancing communication between physicians, specialists, and nursing staff. Furthermore, it helps physicians to seek the expertise that they don’t possess. A classic example of this is the use of telestroke in the emergency room, a technology that was introduced in 2015 at the University of Minnesota Medical Center. It provides neurologists immediate access to incoming stroke patients through emergency room video conferencing. There are a huge number of companies leveraging such telehealth services.

Wonder how to cope with the rising healthcare costs? Infiniti’s market intelligence solutions for the healthcare industry can help you find the answer.

Building telemedicine capabilities into new spaces

This is one of the most recent and interesting paradigms in the telehealth services market. It involves the idea that patients can be treated through telemedicine in the hospital, at home, in nursing homes, in physician’s offices, and other places. These types of telehealth services aim to promote the idea that rather than forcing patients in need of care to travel, they can be provided with care in the space that is most convenient to them. Equipping nursing homes and hospital rooms with technologies to facilitate this would enable a variety of practitioners to provide bedside care more conveniently. In this case, the transportation of patients can be avoided and practitioners can access more patients without disruption. In addition, the primary care provider, family, and friends located elsewhere could link into the video consultations.  This plays a major role in enhancing the communication between all parties involved in the patient’s care.

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healthcare industry analysis

The US Healthcare Industry Analysis 2019

The US healthcare industry is increasingly moving from volume-based to a value-based model wherein the key focus will be on improving patient health and ensuring that they are given good care. A value-based model in the healthcare industry would mean lesser revenues/profits for the providers. However, our healthcare industry analysis reveals that treating patients like members of the healthcare system will eventually increase the brand loyalty, help improve goodwill and brand reputation, and thereby enhance the overall health of the nation.

Why is strategic healthcare industry analysis important for providers? Read this blog to find out.

Benefits of Strategic Analysis in the Healthcare Industry

An effective healthcare industry analysis helps providers to stay updated with the latest trends and challenges coming their way. Request a free brochure to know how healthcare organizations can leverage Infiniti’s solutions to stay abreast of the dynamic market.

Top healthcare industry trends 2019

As the healthcare industry makes the shift towards a value-based system, here are some of the key US healthcare industry trends to watch out for:

Healthcare Industry analysisWant to know more? Download free resource from Infiniti Research to gain comprehensive insights into the top trends for 2019 based on our latest healthcare industry analysis.

The future of healthcare industry

The aging population, rising rate of chronic diseases, and exponential advances in innovative, but costly, digital technologies continue to increase health care demand and expenditures. Based on our healthcare industry analysis, here’s our take on key events that would redefine the future of healthcare:

Creating financial sustainability

The performance of the US healthcare ecosystem is greatly being impacted by the increased use of advanced technologies, the rising popularity of personalized medicine, and the demand for expanded care delivery sites. Furthermore, a closer look into the results of recent healthcare market research studies shows that healthcare spending is expected to rise over 5% annually from 2017-2022. Companies in the healthcare sector are now stressing rigorous financial management, efficient operational performance, outcomes-based care, and development of innovative solutions. As a result, there could be improved care provision, reduced costs, declining margins, and aligned cost structure and care models. We can also expect to see developing public-private partnerships and companies in the sector learning from industries outside of healthcare.

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Our healthcare industry analysis suggests that three out of five healthcare providers face difficulty in maintaining financial sustainability. Request a free proposal to find out how we can help you overcome this challenge.

New care delivery models

As discussed earlier, as the healthcare sector in the US is moving from volume to value based delivery models. This will require building an outcomes-based financial model and data infrastructure that will facilitate and maximize value-based care reimbursement pathways. Factors including patient preferences, clinical innovations, and changes in government program payment policies are pressurizing healthcare organizations to shift to alternative points of care. Stakeholders across the healthcare ecosystem must collaborate around new approaches to funding and delivering sustainable healthcare. Investments in advanced technological capabilities such as telehealth could expand services while also helping organizations bend the cost curve.

Regulatory compliance and cybersecurity

Data is the new healthcare currency. So, it is vital for providers to protect healthcare data. The rising market complexities and increase in the number of data breach cases have amplified the need for stringent regulatory and risk management-related government policies. Apart from this, it is critical for healthcare providers to strengthen their focus on compliance and ethics. Focus must also be provided to driving awareness throughout the enterprise.

Cybersecurity is an ongoing issue in the healthcare sector. Read Infiniti’s blog to discover five great ways to improve cybersecurity in healthcare.

5 Great Ways to Improve Cybersecurity in Healthcare

Infiniti’s healthcare industry analysis solutions

The growing healthcare market offers several new opportunities and risks for companies in this sector as well as for those that operate in the broader healthcare value chain. Today, the healthcare industry is at a tipping point, due to which leading market players are now partnering with best-in-class healthcare industry analysis providers such as ours. We provide comprehensive healthcare industry analysis and explore new avenues and markets for growth.

 At Infiniti Research, we help healthcare players to address market challenges by delivering in-depth healthcare industry analysis that highlights the key factors that drive undercurrents of change in healthcare. Our expertise in the field of market research enables us to offer tailored and incisive market intelligence solutions that empower healthcare leaders to gauge how prepared and well positioned they are for the future.

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manufacturing industry trends

Manufacturing Industry Trends: What’s New in 2019?

Despite the rising challenges, top companies are keen on orchestrating the latest manufacturing industry trends into their business strategy. As a result of leveraging advanced manufacturing capabilities, manufacturers are benefiting from increased visibility into operations, substantial cost savings, increased speed in production times and improved customer support. The future of manufacturing will continue to revolve around digitization and technological innovations. Based on our manufacturing industry trends analysis, here’s our take on the top trends expected to dominate the market in 2019 and how the recent trends in manufacturing technology are all set to revamp this sector.

Emerging manufacturing industry trends, market expansions, and technological innovations will underpin the growth of the manufacturing sector in 2019. Request a free brochure to learn how our solutions can help businesses adapt to the dynamic market.

Manufacturing industry trends 2019

manufacturing industry trendsPredictive maintenance

A manufacturing equipment breakdown could prove to be a costly affair for manufacturers – both in terms of repairs as well as the loss of productivity due to the downtime. In fact, a single hour of downtime could cost manufacturing companies thousands of dollars. Therefore, several companies in the manufacturing sector are turning towards the latest manufacturing industry trends like predictive maintenance to ensure proper functioning of all their equipment. In predictive maintenance, a number of performance metrics are used to monitor various equipment. Automating the data collection process using IoT technology helps manufacturers gain a better understanding of how systems work and when they are likely to fail. The ability to predict the maintenance cycle and requirements saves manufacturers valuable time, money, and resources.

Blockchain boom

The blockchain technology is now gradually taking the manufacturing industry by storm. In 2019, we can expect blockchain to be one of the most notable manufacturing industry trends that can have a direct impact on several sections of the manufacturing industry including- increasing speed, cost-effectiveness, and security. This technology is also likely to play a major role in enhancing the management, tracking, and transaction reporting in the supply chain.

Request a free proposal to learn how our solutions can help you overcome challenges in identifying the latest manufacturing industry trends and transform your business to gain a competitive edge in the market.

Reshoring

Reshoring or bringing back production operations into the United States is one of the key manufacturing industry trends to watch out for in 2019. There are several factors contributing to reshoring. Firstly, the increase in the standard of living of go-to offshoring countries is resulting in increased wages. Secondly, the countries that offer cheap labor do not have the infrastructure capabilities that are necessary to support the complex manufacturing processes. Today, one of the most notable manufacturing industry trends include automation for basic and repetitive processes, which is also a major contributor to the resurgence in reshoring.

Simplifying supply chain management

Delivering more value to customers when compared to the counterparts in the market plays an integral role in remaining competitive in the market. This is no longer accomplished through pricing strategies as savvy manufacturers are fast moving away from price wars and leveraging ways to gain competitive benefits. This includes simplifying supply chain management to gain operational efficiency, increased visibility and control, improved customer satisfaction, and lower operational costs. Some of the key supply chain technology solutions that can be used to address the challenges in manufacturing include- manufacturing optimization, sales and operations planning, business intelligence, and product lifecycle management.

ERP systems

New manufacturing industry trends such as enterprise resource planning (ERP) are playing a critical role in creating a lean and competitive advantage for manufacturers. ERP systems help manufacturers to streamline processes by automating business process and provide real-time and accurate information which helps reduce the administrative and operational costs. As a result, manufacturers can proactively prevent disruptions, manage operations, and facilitate quicker decision-making.

Why Infiniti?

Leading players in the manufacturing industry are confronting uncertainties in the face of digitization and new customer expectations. Moreover, with the rapidly changing manufacturing industry trends, industrial and manufacturing sector companies are facing the need to develop new strategies and invest in technology to gain a stronger foothold. Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies.

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marketing a new product

Challenges in Marketing a New Product and Ways to Overcome Them

Generating organic growth in the next decade will largely depend on a company’s ability to create new products, business models, or services. As simple as it may sound, many of these efforts often fail. According to the industry experts are Infiniti Research, a new product launch is highly challenging as only about one in five among these survive for more than a year in the market. Consequent to these poor success rates, businesses often face massive losses. As the cost of introducing a new product in the market is high, it is vital for companies to develop capabilities that will help them in successfully marketing a new product. The go-to-market strategy should be based on precise calculations and data-based strategies that will minimize the chances of failure.

Planning a new product launch? We’ve got your back! Request a free brochure to learn how Infiniti’s data-driven solutions can help you foresee market challenges and devise an effective go-to-market strategy.

Here are some of the common challenges faced by companies while marketing a new product in the market. We also reveal how to overcome them:

Brand messaging and product positioning

Marketing a new product involves convincing the audience that they need your product. But the challenge here is to get the message across in such a manner that it resonates with the audience. If the marketing team is unable to create explicit brand messaging and product positioning strategy, the success rate of the product will consequently plummet.

Solution: Make it a point to promote the best features of a product that will benefit customers the most rather than merely promoting the brand or the product. Begin with targeting the right audience. This will enable to create better brand positioning strategies to suit the needs of the target audience. It can also help to better understand the problems faced by this group of people and communicate how your product can help solve it. Take the instance of Coca-Cola or McDonald’s who have started introducing healthier options as they were experiencing a drop in shares due to the changing preferences of consumers towards low-calories and low-sugar foods and beverages.

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 Audience targeting

Marketing strategy for new products becomes immaterial if you are not targeting the right audience. Going by random assumptions and stereotypes about a particular demographic favoring your product and a lack of proper research could prove to be a grave mistake while marketing a new product. This could also result in companies missing out on a potential audience base.

Solution: Thorough understanding of the audience and effective market research are essential elements for successfully marketing a new product. Identify which demographics conduct the most searches for your product category. Using the right tools to evaluate and target the right audience are also crucial while marketing a new product.

Marketing the product launch

Even the most revolutionary products might not take off in the market unless they are backed by a strong marketing strategy. The success of marketing a new product largely depends on your ability to choose the right platform to reach out to the target audience, and revealing just enough information to stir curiosity, and updating your audience on your progress so as to maintain their interest and build hype.

Solution: Firstly, ensure that you are using the right platform to reach out to the target audience.  The whole idea here is marketing a new product where the target customers are. Creating intriguing teasers and promotion strategies to build hype among the audience is a great way to launch a new product into the market.

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challenges in retail industry

Biggest Challenges in Retail Industry Right Now

challenges in retail industry

Customers today are no longer forced to make a purchase decision by comparing a few options that are available. Rather, they are now bombarded with dozens or even hundreds of options to choose from. Therefore, one of the key challenges in retail industry is for companies to differentiate themselves from the other players and consequently improve their visibility in the market. Furthermore, waning brand loyalty as customers tend to switch from one brand to another based on what best serves their requirements now proves to be a unique challenge for modern retailers. They now need to find innovative ways to appeal to both existing and potential customers.

In this blog, retail industry experts from Infiniti Research highlight some of the biggest challenges in retail industry this year and how reliable retail industry data coupled with effective market intelligence solutions can help oust such roadblocks.

We understand that businesses face several challenges in retail industry while identifying and curating high-value customers to develop marketing strategies and maximize profitability. Request a free brochure to know more about our solutions for the retail industry and how we help clients identify market trends, opportunities, and challenges in retail industry.

Challenges in retail industry 2019

Consumers moving to multi-channel buying experiences

Technology has been a major boon to retailers and customers alike, however, they also play a major role in propelling the challenges in retail industry. As consumers are seamlessly moving between online and brick and mortar platforms for shopping, they are becoming more open to retailers who can facilitate these transactions. So, companies that want to thrive in this sector must heed to such retail industry trends and focus on creating top-notch customer experience across all platforms.

 Demand for impeccable customer experience

Brand loyalty largely depends on the customer experience. The level of effort taken to enhance customer experience is directly proportional to the customers’ likelihood to engage in repeat purchases with a brand. However, this is currently one of the key challenges in retail industry as creating a significant customer experience requires retailers to dive-deep in customer details in order to understand their customer better. Providing personalized experiences by identifying customer preferences could contribute to delivering great customer experiences.

Siloed marketing infrastructure

Effective marketing today requires companies to engage with their target customers across various platforms. Multi-channel communications are essential in driving the creation of seamless customer experience. But this could also prove to be one of the major challenges in retail industry because with so many different channels customer data could be siloed. In case all the elements of the marketing department are not working in synergy, chances are that customers could be overwhelmed with conflicting or repeat messages.

To gain a competitive edge in the retail industry despite several ongoing trends and challenges, it is vital to adopt a data-driven approach coupled with the right solutions that can transform this data into meaningful insights. Request a free proposal to learn how our market intelligence solutions can help overcome challenges in retail industry.

How Infiniti’s solutions can help retailers overcomes these challenges?

Creating a winning proposition in today’s complex retail environment requires a superior business strategy, resourceful operations, attractive merchandising, targeted marketing, and the use of reliable technology. We provide strategic market intelligence solutions and help our clients identify challenges in retail industry and use their key performing metrics to facilitates quicker decision making and better customer service. Get in touch with us to know more about our market intelligence solutions for the retail industry.

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mergers and acquisitions

Mergers and Acquisitions as a Part of Your Company’s Growth Strategy

Mergers and Acquisitions (M&A) involves a rigorous process that requires a high degree of detail. For an M&A to be successful, a myriad of processes should be strategically set and executed. There are several reasons why owners of a business or top executives of an organization decide to leverage mergers and acquisitions strategies. One of the key reasons is to kill competition by buying rival companies. M&As’ also help easily boost business productivity, gain new customers, and even seamlessly penetrate into new markets.

Difference between mergers and acquisitions

Although mergers and acquisitions are often blended and increasingly used in conjunction with one another, there are certain fundamental differences between the two terms. A merger refers to two companies which consolidate into a new entity and introduces a new ownership and management structure. On the contrast, in the case of an acquisition, a new company does not emerge. Rather a smaller company and its assets are acquired by a bigger player. Acquisitions generally require a large amount of cash.

Role of M&As in strategic business growth

Infiniti Research has identified some key areas where mergers and acquisitions have proven to be a useful growth strategy:

Cover gaps in service offerings

The occurrence of certain external events or the introduction of new laws and regulations causing the marketplace to change results in a gap in the firm’s offerings. This could prove to be a prime opportunity for a mergers and acquisitions strategy.

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Acquire talent and intellectual property

In most cases, companies attain market dominance through mergers and acquisitions when they are in possession of another firm’s intellectual property. Furthermore, by acquiring another company’s experienced and professional staff, it is possible for organizations to strengthen their processes and pool in new ideas to improve business.

Opportunity to leverage synergies

A strategic mergers and acquisitions are an essential part of a company’s growth strategy and often results in synergies that offer value to both the acquired and the acquiring party. Cost and revenue are two mergers and acquisition-related synergies achieved by companies. Cost synergies involve cutting costs by taking advantage of overlapping operations or resources and consolidating them into a single entity. Revenue synergies alter the competitive balance of power. It creates opportunities to change market dynamics, sell more products, or raise prices.

Develop new business models

The revenue generation and business models vary from one company to another. However, for firms planning to venture into a new business model, the best way to do it is by acquiring a firm which is using the model successfully. This helps companies avoid mistakes due to inexperience.

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food industry trends

Four Food Industry Trends to Expect in 2019

The food industry is rapidly evolving. Apart from staying on top of the emerging technologies and innovations, companies in the food industry must also keep a close watch on the changing consumer preferences and rising costs. Globally, the food industry in emerging markets including Philippines, China, and Malaysia are booming, while more established and mature market such as the US, Europe, and Canada are showing stagnant and slower levels of growth. There are similar macro trends that are driving growth and innovation across the globe despite varying economic and cultural differences. Infiniti Research reveals four food industry trends to expect in 2019 as this sector grapples with changing eating habits.

Food industry trends 2019      

Increasing demand for transparency

One of the biggest food industry trends this year is the rising consumer need for transparency. Modern consumers are well-informed and greatly interested in knowing the ingredients that go into the food products that they consume. Considering the rise of health and diet conscious customers, a greater number of consumers are reading the back of packages now more than ever.

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At-home meals

Recent research reveals food industry trends wherein a greater number of consumers prefer to have their meals delivered to their homes. This is primarily due to factors including streaming media, work from home, and rising need to stay away from the maddening crowd. Consequently, through the mid of 2018 to throughout 2019, the decline in dining at restaurants is expected to become one of the ongoing food industry trends.

Made to order/ customization

This is one of the food industry trends that have been evolving for years due to the growing demand of consumers to personalize the meals that they eat. Furthermore, the dietary preferences, restrictions, and allergic reactions to certain food items are some of the main factors that are driving the popularity of customization in meals to suit the needs of individual consumers.

Channel blur

An increasingly diverse array of operators in the food industry are venturing into foodservice in order to compete for their “share of stomach”. Players in the food industry no longer compete with only counterparts offering similar products. Rather, they now have to compete with segments including food trucks, convenience stores, supermarkets, and other meal kits that provide innovative options for consumers who are looking for variety and flexibility.

What were the top food industry trends in 2018?

Infiniti’s solutions for the food industry

In a highly dynamic sector such as the food industry, it is essential to keep tabs on the food industry trends. Furthermore, the uncertainties in the global economy are expected to take the center-stage in the future of food industry. Infiniti Research adopts a holistic approach to market research and provides comprehensive insights into the food industry trends, challenges, and strategies to strive in the target market. With a team of highly skilled market research professionals, we offer advanced, customized solutions that will help food and beverage companies to magnify competitive advantage by improving speed-to-market and stay up-to-date with the latest food industry trends.

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customer experience management

4 Customer Experience Management Trends to Keep an Eye On in 2019

What is customer experience management?

Customer experience management involves managing customer interaction through both physical and digital touchpoints in order to deliver personalized customer experiences. This helps drive customer loyalty and boosts revenue. Although companies can make efforts to guide customer journeys, they cannot absolutely dictate it to customers. Customer-centric organizations leverage behavioral data, marketing technologies, and customer insights to optimize customer journeys and thereby ensure better customer experience management.

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We, at Infiniti Research, use a combination of research, analytics, and data management systems to help our clients manage data, serve relevant content to target customers, and predict future interactions. Request a brochure to know more about Infiniti’s customer intelligence solutions.

Customer experience management trends

Several transformation triggers including globalization, digitization, and economic changes have the power to dramatically impact customer interactions with a brand and influence their decision-making. So, while formulation a customer experience management strategy, companies must take these factors into consideration. Here are four customer experience management predictions for 2019 from Infiniti Research:

Hyper-personalization at every touchpoint

 One of the key recent trends in customer expectations is the increasing need for personalization in product/services. Today, hyper-personalization forms a key element of customer experience and satisfaction. As a part of their customer experience management strategy, forward-thinking companies are using data and analytics for (near) real-time personalization. Today, customers are inundated with advertisements and multimedia content on different platforms. This makes it crucial for brands to not add irrelevant noise to their content, rather, define ways to stand out from the crowd.

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Organization-wide customer focus

In most cases, hiring a chief customer officer is not enough to deliver impeccable customer experience. The most successful brands in customer experience management are those who establish an organization-wide customer-experience mindset. Top companies like Amazon are thinking about customer experience in everything they do including marketing, supply chain, infrastructure, logistics, and product design.

Robotic Process Automation (RPA)

Robotic Process Automation, also known as RPA involves the use of machines to automate repetitive and mundane tasks, helping businesses to increase efficiency and decrease costs. Moreover, this gives the human resources of a company to focus on tasks such as innovation, problem-solving, creativity, and customer experience management research and analysis.

Data ethics

One of the most popular customer experience management trends to watch out for this year is the rising need for data privacy and ethics. With the introduction of the General Data Protection Regulation
(GDPR) law that gives customers power over their personal data, companies have to be more cautious than ever on the compliance with such regulations. This law has changed the way companies handle customer data which has now transitioned from a business asset to the customers’ property. Facebook data ethics scandal in the recent past is proof that such instances can hurt a company’s image in the public eye and eventually lose customer trust. Customers want great customer experiences from brands they can trust. So, building customer trust by maintaining their privacy and data security is now one an essential customer experience management trend.

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competitive pricing

Building Better Competitive Pricing Infrastructure

Effective pricing strategies ensure that businesses are maintaining a good profit margin while keeping up with the market competition. When it comes to building the right marketing strategies, pricing is one of the most important components as the price of the product is one of the first things that a customer notices about a product and plays a vital role in the purchase decision of customers. There are several pricing strategies available for businesses today. Some of the common pricing strategies include –

Cost-plus strategy: A prefixed profit margin is added over the total cost of the product

Demand pricing: The price is set by establishing the optimal relationship between volume and price

Markup pricing: A percentage is added (as profit) over the wholesale price of the product

Competitor pricing: Prices are fixed based on competitor prices

Competitive pricing strategy has caught the fancy of most players across industries. This article provides comprehensive insights into what a competitive pricing strategy and its role in competitive pricing analysis.

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What is competitive pricing strategy?

Competitive pricing refers to a pricing strategy in which prices of a product are fixed in accordance with that of the competitor prices for similar products. In this type of pricing strategy, the purchasing behavior is an important criteria considered to fix prices. Some of the other factors taken into consideration include price sensitivity, costs, and competition. In competitive pricing, the business has three options to price their products in relation to the competitors- price the product higher, lower, or at par with that of the counterparts in the market. However, this is one of the most strategic decisions to be undertaken by key decision makers of the company as any fault in the pricing strategy could lead the company to lose out customers to the competitors.

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Creating a competitive pricing strategy from scratch is no easy feat. Our competitive intelligence solutions for business help companies are tailor-made to suit individual business requirements. Request a proposal to know more!

competitive pricingCompetitive pricing strategy in pricing analysis

Competitive pricing is all about choosing strategic price points to leverage the best advantage out of a product/service when compared to their counterparts in the market. In the modern marketplace, a successful pricing strategy requires large amounts of historical and competitive data which takes into consideration myriads of market information. Experts at Infiniti Research have observed that a good majority of buyers compare offers by several stores/brands to ensure that they get the best bargain. Retailers that can collect and analyze market data, map their position against that of the competitors, and offer optimal prices. This would not only grab more customer attention but also gives brands a first mover advantage. Furthermore, competitive pricing strategies attract more customers by using competitor product and pricing data to increase sales and thereby boost revenues.

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Customer Lifetime Value

Using Trend Analysis for Strategic Business Planning: What You Must Know

What is trend analysis?

Trend analysis is the process of comparing business data over a period of time to identify the occurrence of any consistent results or trends. Business strategies can then be developed to respond to these trends in such a manner that they are in line with the company’s business goals. One of the key trend analysis objectives is to look at how a potential driver of change has developed over time and how it will likely develop in the future. Here, due to the creation of a plausible and detailed picture of the future, trend analysis proves to be a powerful tool for strategic planning. Historical data from the company’s database and that of the competitors can be used not only to track the current market trends but also effectively predict future trends.

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Understanding the impact of potential opportunities, new technologies, population changes, and many other external factors affecting the market, is a vital part of a company’s success. Request a free brochure to find out how Infiniti’s solutions can help your company achieve this.

In business, trend analysis is typically used in two ways:

Revenue and cost analysis

A company’s income statement can be used to extract revenue and cost information. This data can then be arranged in a trend line for multiple reporting periods which helps examine trends and inconsistencies. Trend analysis methods are highly useful for examining preliminary financial statements for inaccuracies and identify if adjustments should be made before the statements are released for general use.

Investment analysis

An investor can create a trend line of historical share prices and leverage this data to predict future changes in the price of a stock. The trend line can also be associated with other information for which a cause-and-effect relationship may exist. This determines if a causal relationship between variables can be used as a predictor of future stock prices. Trend analysis can also be used for the entire stock market, to detect signs of an impending change from a bull to a bear market, or vice-versa.

Trend analysis importance

Trend analysis plays a vital role in improving business by:

  • Identifying areas where the business’s performance exceeds expectations so that success can be duplicated.
  • Identify and analyze areas where the business is underperforming so that necessary and timely action can be undertaken to bring the performance on track.
  • Acting as evidence for informed decision making.

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Companies best prepared for the future are those that track key variables and most accurately forecast industry trends. Request a free proposal to know more about our solutions for various industries.

Can trend analysis improve customer satisfaction?

Apart from revealing the market trends affecting the business, experts at Infiniti research conduct trend analysis to determine the spike or decline in the satisfaction levels of customers and sub-groups with the company’s customer base. Furthermore, strategic research methods and focus groups or representative samples are examined to analyze and understand the potential increase/decrease in customer satisfaction levels that would result from specific actions including upgrading the customer service or changing distribution methods.

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