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Market segmentation

Top Three Reasons Why Media Monitoring is Essential for Your Business

The competitive market environment and the evolving landscape across industries all over the world has coerced organizations to direct their efforts towards understanding their target audience. With the evolution and growth of the digital media landscape over the last decade, businesses have realizedIR_Brochure the importance and benefits of media monitoring services. Media monitoring helps brands to understand their target audience, listen to them, and gain customer behavior insights. A majority of the businesses leverage social and digital media platforms but lack the infrastructure and understanding to gain valuable insights. With the help of media monitoring services, organizations can monitor their channels, connect with their client base, and be responsive to their demands. Plus, social monitoring tools are great for free publicity and branding that can be targeted to the appropriate audiences to achieve desired results.

Media Monitoring – Crisis Management

Media monitoring services help companies to anticipate and interpret public opinion, attitude, and preferences that might affect the brand image. Also, it is an amazing crisis management tool which can be used to avoid issues with customers, vendors, government, ambassadors, or the management itself by mitigating it in time. Companies cannot afford to neglect the negative feedback and opinions received from customers as it can harm the company’s reputation and that’s why they must adopt social monitoring tools.

Media Monitoring – Offers Actionable Insights

Media monitoring services are essential at every stage, right from research, new product development, product launch, and competitor analysis among others. The solutions help businesses to gauge the overall public sentiment of the target audience towards the brand, its product offerings, and the company as a whole. Moreover, social monitoring tools can help gaining competitor insights and understand their market strategies and value proposition.

Media Monitoring – Automated Process

Earlier, brands used to hire PR professionals who would rely on traditional media scanning tools which required them to flip through journals, newspapers, and other mediums in their quest to find brand mentions. But with the help of social monitoring tools, the tedious and mundane task has become easy, requires less effort, and is less time-consuming. The automated social monitoring tool allows the brand to measure the campaign reach, build customer engagement, and identify media mentions.

 

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Digitalization in the Telecommunication Industry – A Game Changer

The telecommunication industry is struggling to keep up with the dynamic market environment and growing technological advancements. In their quest to adopt digitalization, the companies in the telecommunication industry have started taking small steps by undertaking infrastructural developments and inteIR_Brochuregrating technology. The digitalization wave has coerced telecommunication companies to pursue apps and services to develop new revenue streams. Several telecommunication companies have directed their efforts towards developing 5G by scheduling regular trials. By embracing digitalization, the service providers in the telecommunication industry can offer faster data, better performance, and several other high-level features.

Telecommunication Industry Embraces Digitalization

With the mass adoption of connected devices and applications by various stakeholders such as consumers, businesses, and governments, digitalization has had a transformational impact on the operational and strategic decisions of the telecommunication companies. Transforming to a digital economy helps the service providers in the telecommunication industry to monetize their investments, boost capabilities, improve their product offerings, enhance customer experience, and develop new competitive business models. Globally, the service providers’ revenues have been stagnant in spite of the sudden surge in the operational costs, thanks to the freeloading market players who make it more difficult.

Digitalization – Is It Good?

In the telecommunication industry, those service providers who have adopted the digital economy are faring better compared to those who haven’t. But before diving headfirst into the digitalization wave, the telecommunication companies must take a focused approach by leveraging market intelligence solutions to gain industry insights and develop digital friendly product portfolios. It may sound difficult, but the service providers in the telecommunication industry cannot just stand pat and let the market unfold on its own. The telecommunication companies must transform their business processes to maintain their profit margins, retain their market share, and expand their share of wallet in a digital economy.

Telecommunication Industry – What’s Stopping You?

The service providers in the telecommunication industry have realized the benefits of adapting to the digital economy – higher revenue, reduced costs, and enhanced customer satisfaction. But still, what is it that complicates the adoption of the digital economy, you ask? Here’s what. For decades now, telecommunication companies have thrived on legacy business systems and traditional product offerings, making it difficult for companies to adopt digitalization in its entirety.

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product research

Leverage Customer Intelligence to Build an Effective Brand Strategy

All too often, companies overlook the multiple benefits of leveraging insights from customer intelligence solutions and instead make decisions and develop their brand strategy based on intuition. The organizations fail to realize the fact that the power lies in the hands of the customer, thanks to the cIR_Brochureonstant access to information, growing competition, and increased adoption of social media. Today, the customer is more demanding and less loyal, which makes the brand’s market position more fragile. In order to treat customers well, organizations must leverage customer intelligence solutions and develop an effective brand strategy.

What is Customer Intelligence?

Customer intelligence is all about obtaining smart and useful insights about customers, which are drawn and analyzed from multiple sources. In short, customer intelligence can be defined as a holistic and flexible way to understand customers by collating, contextualizing, and analyzing data. Customer intelligence answers the why of customer behavior, which helps businesses to adapt its brand strategy and product line to meet customer demands. The valuable insights guide the management, facilitate informed decision-making, and support brand strategy development. Customer intelligence solutions not only drive better business decisions but also allow the company to measure the outcomes and minimize overall costs. But what is the importance of customer intelligence, you ask? Here’s what. Organizations have access to large amounts of information from a variety of sources that can be analyzed to gain actionable insights. Customer intelligence solutions make it easy for businesses to indulge in strategic decision-making, enhance their brand strategy, and improve customer experience.

Building Effective Brand Strategy with Customer Intelligence

Customer intelligence offers valuable insights that help marketers to devise a brand strategy that improves customer engagement and converts them into brand advocates. Furthermore, organizations can assess their brand strategy and measure the outcomes of their marketing outreach programs and promotional activities. This helps brands to develop a real-time connection with their customers, build a loyal customer base, and gain a competitive advantage over their competitors.

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Top 3 Technologies Disrupting the Smart Packaging Solutions Sector

In recent times, packaging has evolved from being a protective barrier for a product to a tool for marketing communications. With constant innovation in technology, packaging is expected to be much more than a protective barrier or a marketing tool. Manufacturers have been focusing on using advanced technologies to provide enhanced functionality – a term known as smart packaging. Smart packaging solutions can be utilized either as an active packaging, providing functionality such as moisture and oxygen control, or intelligent packaging, which indicates status or communicates product changes along with other information. Smart packaging solutions have the potential to positively change the way consumers interact with the product and simplify things.

Here are some of the trends in the smart packaging industry:IR_Brochure

Smart Labels and IoT integration
Smart labels eliminate the need for embedding costly sensors to the product to track vital information regarding location, temperature, movement, and moisture. For instance, a company called ThinFilm has created printed electronics that can be attached to any products to provide real-time information so that the company can check product’s freshness and prevent spoilage.

Augmented Reality in Smart Packaging Solutions
The game Pokémon GO gave much-needed acknowledgment to the augmented reality technology. Much like discovering Pokémon in a real-life map, AR technologies can project vital product information like item tag, order status, stock levels, and delivery destination with the help of an HUD display or a smartphone.

OLED Flexible Display Technology in Smart Packaging Solutions
Although this technology seems too futuristic to be used in the packaging sector, companies are making significant efforts to build prototypes that can incorporate flexible energy efficient display in packaging. A pioneer in this field, VTT Technologies of Finland, is investing heavily in its OLED technology to enable a lean and agile production of custom size and shaped display and signage elements at a meager cost. Such a technology has the potential to create products with interactive packaging and illumination that can attract customers in a retail store.

Get in touch with industry experts to know more trends in the smart packaging solutions and gaining market intelligence regarding the packaging sector.

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Top Neuromarketing Techniques – Analyzing Hidden Human Emotions to Create Marketing Programs that Work

In the past, brands used to spend unreasonably high amounts in marketing and advertising their products all over the place, including mediums like TVs, buses, and advertising billboards. But, in an age where competition is high, and advertising cost is skyrocketing, marketers are facing the challenges when it comes to gaining better outputs with limited budgets. Neuromarketing techniques help a marketer improve the effectiveness of their marketing programs with a better understanding of a non-conscious aspect of consumer decision-making. It addresses a big flaw associated with the conception of the traditional research that consumers usually act differently compared to their response. Here are the top neuromarketing technique that marketers can use to gain a better understanding of consumers decision-making process:IR_Brochure

Eye Tracking Technology

Eye tracking technology helps a marketer see the promotions through the eyes of the customers. It tracks the customer’s eye movement along the promotional content, the store, or the brand and also records how long customer gazes at a particular point. This neuromarketing technique helps the marketer to identify the parts of promotion such as image, headline, or body copy that is important to a consumer and focus on them.

EEG and fMRI

The eye tracking technology is pretty straightforward but does not reveal the emotions of the customer towards the promotions. By tracking electrical activity and flow of blood inside the brain, marketers can figure out whether a consumer likes the product or promotion. Allowing examiners access to the pleasure center of the brain lets researchers track human emotions such as anger, excitement, lust, or sorrow. Such a neuromarketing technique could be useful in analyzing the effectiveness of a commercial.

Facial Coding

The facial recognition software in a device as small as the new iPhone X already depicts the potency of facial coding. This neuromarketing technique uses thousands of dots, which are then projected on the subject’s face and tracks movements of muscles to recognize the facial expression and then analyze emotions such as surprise, jubilation, disappointment, or anger.

Galvanometer Test

Researchers use galvanometers to determine the excitement levels of the customers after exposure to external stimuli such as an advertisement or new product by measuring electrical activity in the respondent’s skin. Such involuntary responses can give marketers insights into the effectiveness of the marketing program and make necessary amendments if the desired level of excitement is not achieved.

Here’s how marketers can use neuromarketing techniques to create effective marketing programs:

Neuromarketing TechniquesGet in touch with industry experts to help your company gain insights on suitable neuromarketing techniques your company can use to create winning marketing programs.

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Importance of Business Intelligence in the Retail Industry

Business intelligence enables collecting accurate, reliable data from various sources to gain valuable insights that facilitate strategic decision-making. Being one of the most diverse industries across the globe, the retail industry faces severe challenges such as sustaining profit margins, ensuring customer retention, and expanding their market shares. This is one of the prime reasons why companies in the retail sector must leverage business intelligence services to devise effective marketing strategies, develop new product lines, and minimize the overall operational costs. Business intelligence solutions can be used to mine data and analyze it to identify process gaps, enable business expansion, and make informed decisions. In short, business intelligence can help retail companies transform data into actionable insights and help organizations achieve business excellence.

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Why Does the Retail Industry Require Business Intelligence?

With increasing consumer demands and dynamic market conditions, it is vital for the players in the retail industry to understand customer preferences and identify their needs. Customers seek instant gratification, unmatched service experience, and the latest products from the companies in the retail industry. Business intelligence and customer analytics help retail companies to address customer needs and enhance the shopping experience. In the retail industry, the vendors must not only assess the market landscape but also the customer potential and the competitive landscape to gain a strong foothold in the market.

How Do Business Intelligence Solutions Work?

In the retail sector, it has been noted that online commerce platforms have started gaining traction among customers because of the convenience it offers. This increase in the use of eCommerce platforms generates large amounts of data that the retail industry players can leverage to gain consumer insights by tracking the browsing history and past transaction data. The insights generated by business intelligence solutions and customer analytics help the retail companies to assess and analyze customer behavior, internal business practices and predict the latest trends in the retail industry.

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competitive pricing

Why are Companies in the IT Industry Jumping on the Bandwagon to opt for Subscription Business Model?

The IT industry has seen a meteoric shift in the consumer buying behavior as preference towards simple and hassle-free purchases grows. Also, the fact that the IT industry is intensely competitive due to low barriers to entry profoundly decreases the consumer’s propensity to take risks; thereby, making it favorable for companies to opt for subscription business model. The subscription business model allows a customer to pay a reasonable price for the IR_Brochureproduct and also profits the company with a constant stream of revenue. The IT industry, in particular, has witnessed many vendors opting for a subscription-based model like Netflix, Dropbox, Salesforce, and many other cloud-based services. So why are businesses shifting towards subscription economy?

Increased Customer Base

A subscription business model allows the price of the product or service to be divided along its usage period. For customers, it’s almost like paying for the product in small installments. Additionally, customers are more likely to opt for suppliers employing subscription model as they can opt out of a service if they feel it as inadequate or subsequently scale the level of service as per their need. The popularity of subscription business model is evident as the majority of SMEs are opting for services from cloud-based ERP systems as it breaks the cost and implementation barriers posed by traditional systems.

Convenience

The subscription business model offers several convenience benefits to the clients as they can access up-to-date products without waiting for updates resulting in zero downtime. The reason behind the success of SaaS products is their flexibility, which allows the users access to data from any device that uses the latest version of the software.

Increases Customer Retention

In the pay-per-use business model, the biggest hassle for the sales team is to track down new clients and convince them to buy. With a subscription business model, customers are more likely to stick to a single provider if they are satisfied with their service; thereby, increasing the customer lifetime value (CLV).

A majority of businesses in the IT industry have reported a multi-fold increase in revenue after shifting to a subscription business model. The subscription economy has repeatedly been taunted as the future of pricing model in the IT industry.

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Customer Engagement

Assessing Potential Market Opportunities in the Medical Device Industry

The medical device industry is under pressure to offer healthcare and medical assistance to patients at affordable prices, thanks to the growing competition and technological advancements in the market. One of the factors that has increased the level of market competition is the ever-changing consumer needs and expectations from the healthcare industry players and the entry of new medical device manufacturers in theIR_Brochure surgical instruments landscape. The only way to stay abreast of the latest trends and developments in the medical device industry and tap the hidden growth potential in the market is to undertake market opportunity assessments. But what are the benefits of the market opportunity assessment for the surgical instrument manufacturers in the medical device industry, you ask? Here’s what.

Market Opportunity Assessment Benefits the Medical Device Industry

A thorough market opportunity assessment can help organizations in the surgical instruments landscape to gain a strong foothold in the competitive market environment and meet the growing needs of the healthcare industry. The medical device industry can effectively develop products and services that resonate with their target customers as it’ll help drive business sales. The surgical instruments manufacturers can make use of business intelligence and market intelligence tools to identify the potential market risks and new market entry barriers to devise effective risk mitigation strategies. It is extremely essential for the surgical instrument manufacturers to gain in-depth knowledge about the industry’s competitive landscape and assess the market attractiveness. Apart from this, a market opportunity assessment helps surgical instruments manufacturers to devise fool-proof go-to-market strategies and retain their market shares in the medical device industry.

Recently, Infiniti Research helped a leading company in the medical device industry to assess the market and competitive landscape, current product offerings, and build robust market entry strategies for the medical device manufacturing space. Read the complete case study here.

The Infiniti Way

The rule of thumb to survive in the market, create lasting impressions, realize business objectives, and drive profitability is to listen, identify, and analyze customer and market information.

“In this dynamic and competitive market environment, it is essential for organizations to gain an in-depth knowledge of their target customers and leverage these insights to improve their decision-making process.” says a leading senior market analyst at Infiniti Research

With more than 14 years of experience, Infiniti Research has worked with several clients across the globe and provided various business intelligence services that has helped them make strategic business decisions wisely. We have worked with over 120 plus clients, including 55 Fortune 500 companies and helped them build capabilities and drive bottom-line growth by leveraging the constant influx of information and data. With the help of our team of expert analysts and consultants, we strive to complement our client’s business objectives to discover growth opportunities and drive business excellence.

 

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Marketing in the Pharmaceutical Industry – Vision 2025

The pharmaceutical industry is expected to grow exponentially over the next decade in emerging markets such as India, China, and Brazil. Much of this growth can be attributed to the surge in chronic diseases and medical conditions in both the developed and developing countries. The emerging IR_Brochuremarkets are significantly contributing to the overall sales and driving the revenue of the global pharmaceutical industry. But what are the pointers the pharmaceutical companies must keep in mind to leverage the benefits of the market opportunities, you ask? Read on for more.

Pharmaceutical Industry: What Does the Future Hold?

Pharmaceutical companies must realize the future growth potential of the market and build their capabilities to enhance their value offerings. The present market condition is highly unstable, both economically and operationally, and responds too slowly to the changing market conditions. Over the next ten years, pharma companies will develop products that offer total health care packages as the healthcare industry clients are channeling their efforts towards disease prevention. Along with this, the traditional sales model will make way for a more, well-thought marketing strategy – where the sales representatives will focus on cross-selling and up-selling activities. Additionally, implementing a robust pharma supply chain will help eliminate the wholesalers, paving the path for direct-to-consumer channels that relax distribution and logistics requirements.

The Future of Marketing in the Pharmaceutical Industry

Traditionally, the pharma industry followed a bulk sales force hiring strategy and a mass market approach, while pitching their products and services to the potential customers. The pharma industry revolved around developing me-too products, selling the most drugs, and incremental innovation. However, the pharmaceutical companies are now adopting a targeted approach and streamlining their sales strategies with a comparatively smaller, smarter, and agile sales force that helps drive business growth. The pharmaceutical companies must develop marketing strategies that create value for the patients and offer premium products and healthcare services. The companies in the pharma industry can achieve their marketing objectives by improving their sales force effectiveness, adopting a flexible pricing strategy, and develop their sales and marketing functions to embrace the future trends.

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Market Analysis – An Essential Homework to Ace the Tests of the IT Industry

The Information Technology (IT) industry has powered the growth of the world economy as organizations are driving efficiency and saving costs by outsourcing to countries with skilled talents like China and India. Over the last decade, the IT industry has witnessed dynamic changes in its mode of operation. For instance, the majority of the app-based vendors like Netflix, Dropbox, and Salesforce have reformed their revenue model from a sales-based to aIR_Brochure subscription-based model. Such changes to the revenue and business model have urged the companies to revisit their marketing strategies and continuously perform effective market analysis.

Is Market Analysis Important to the IT Industry?

Recent advancements in the level of automation and technological innovation have posed a big challenge to managers in creating business forecasts. The IT industry has been experiencing rapid growth due to development of new IT services such as CRM tools, ERP, managed IT services, alongside cloud computing service models such as SaaS, PaaS, and IaaS. Additionally, businesses also have to regularly perform market analysis to create accurate forecasts, market entry strategies, and market sizing and competitive positioning exercise. Businesses also have to carry out a thorough market analysis to gain a complete overview of the market and devise an effective marketing strategy.

For over a decade, Infiniti Research has been helping clients in the IT industry to perform effective market analysis and design an effective marketing strategy. More than 55 Fortune 500 clients have leveraged solutions from Infiniti Research to:

  • Identify and mitigate risks in potential new segment
  • Devise an effective product marketing strategy
  • Assess potential opportunities and current market performance across diverse geographies
  • Develop a robust business plan to tackle market uncertainties
  • Perform a deep target market analysis and identify cultural and legal regulations

A comprehensive market analysis presents the clients with a holistic picture of vital components in the market, which helps companies in the IT industry to adjust to the existing dynamic environment.

Read the full case study: Effective Market Analysis Assists an IT Industry Client to Devise an Effective Marketing Strategy

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