Why Should Companies Benchmark Themselves Against Competitors? A Weekly Round-Up of Popular Articles on Competitive Benchmarking
LONDON: Infiniti Research, a leading competitive intelligence solutions provider, has announced the release of their new storyboard series on how competitive benchmarking solution helps businesses to identify performance gaps and adapt to continually shifting dynamics in the marketplace. In today’s fluctuating business environment, the challenge lies in establishing baselines, defining best practices, and creating a [...]
LONDON: Infiniti Research, a leading competitive intelligence solutions provider, has announced the release of their new storyboard series on how competitive benchmarking solution helps businesses to identify performance gaps and adapt to continually shifting dynamics in the marketplace.
In today’s fluctuating business environment, the challenge lies in establishing baselines, defining best practices, and creating a competitive environment in an organization. Moreover, with the increasing focus on globalization, major companies are pursuing global strategies to boost their competitiveness. However, being unclear about the company’s performance in comparison to that of the key competitors could prove to be risky. Competitive benchmarking solutions allow businesses to assess competitors’ offerings and differentiate their brand from other players in the market.
With over 15 years of experience in serving companies across all industries, Infiniti Research, has helped many organizations achieve success by analyzing their competitors’ key strengths and weaknesses. Below we’ve listed out some of our success stories and have also discussed the key benefits of competitive benchmarking for businesses.
#1: Infiniti’s competitive benchmarking engagement helped an automotive major establish market presence in Germany
Germany is one strongest country when it comes to high-tech automotive products. But, as major German automakers have already adapted to the radically changing new automotive world, it becomes highly challenging for new automotive players to gain a leading edge in this market. This was the case with one of our clients who was new to the market. Infiniti’s competitive benchmarking solution helped the client to gain comprehensive insights into the German automotive market and the major players in the industry. Furthermore, the solution helped them to build a better brand image and differentiate their service offerings. As a result, the client achieved a significant increase in their savings and was able to establish their market presence in the Germany. To gain more insights, read the complete story here.
#2: Infiniti’s Competitive Benchmarking Engagement to Uncover New Market Opportunities for a Food Company
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 changing consumer preferences and key competitors. With a large number of food companies entering the market every year, it becomes quite difficult for businesses to monitor their competitors’ moves and stay updated on changing customer needs. But, a competitive benchmarking solution can help companies deal with these issues efficiently. This success story explains how competitive benchmarking solution helped a food company facing similar predicaments. Infiniti’s competitive benchmarking solution helped them to develop a standardized set of processes and marketing metrics to enhance their product offerings and improve profit margins. Want to more about the approach undertaken by the experts at Infiniti Research to help the client achieve these results? Read the complete success story here.
#3: Leveraging competitive benchmarking solution to improve quality care and patient satisfaction for a healthcare firm
With US healthcare companies moving from volume-based to value-based model, care delivery and patient centricity are becoming mainstream in the healthcare industry. Also, in the healthcare industry, relentless focus in being given to offering quality services and ensuring patient-care. In this context, healthcare companies realize the importance of leveraging competitive benchmarking solution. Wondering how competitive benchmarking solution can help healthcare companies improve efficiency, quality of care, and patient satisfaction? It is clearly evident in one of our success stories. Read the complete story below to know the other benefits of leveraging competitive benchmarking solution for healthcare companies.
#4: Leveraging Infiniti’s competitive benchmarking engagement to enhance agility and efficiency in the supply chain process
Supply chain benchmarking is a pre-requisite for businesses, especially in the case of logistics companies. Also, supply chain operations within an organization should be constantly reviewed to identify areas of improvement. Are you facing any difficulties in doing so? If yes, Infiniti’s competitive benchmarking solution solutions can help as it helped one of the logistics companies. They wanted to optimize and standardize their existing supply chain process. By doing a competitive landscape analysis, the experts helped the client to implement efficient business plans to ensure seamless movement of goods and timely delivery. To gain more insights, read the complete success story here.
#5: Enhancing service offerings for a network services provider in Latin America with Infiniti’s competitive benchmarking solution
With technological advancements and innovations, it becomes highly challenging for companies in the telecom industry to offer reliable services to the customer base. With tough competition in the Latin American market, a network service provider was facing difficulties in promoting their service offerings. Also, the company’s inability to keep up with the key competitors in the market turned out to be risky. This potentially affected the financial capital of the company. But, with our competitive benchmarking solution, they were able to recover from the lost sales and enhance ROI. Interested to know the approach undertaken by our experts to help the client? Read the complete story here for detailed insights.
#6: What are the steps in a competitive benchmarking process?
To sustain themselves in a competitive business environment, companies continually need to compare their performance with their peers and adopt strategies to stay ahead of competitors. Nowadays, with multiple solutions available for competitive benchmarking analysis, companies often become confused about where to start. However, it’ really imperative for companies to follow a standardized procedure to benchmark their operations against competitors. This article from Infiniti Research discusses the five critical steps in a competitive benchmarking process.
#7: How Infiniti’s competitive benchmarking engagement helped a telecom company to prioritize performance gaps and enhance profit margins
With the rising competition in the telecommunication industry, a leading player based out of the United States encountered difficulties in analyzing their competitors and capitalizing on new opportunities. Therefore, to outpace the growing competition, the telecom company approached Infiniti Research. With our approach, the client was able to analyze their key competitors and execute processes to surpass the competition. Also, by leveraging our competitive benchmarking engagement, they were able to gain a leading edge in the US telecom market and enhance profit margins. Want to gain more insights? Read our complete story here.
#8: How competitive benchmarking helps companies in the steel industry?
With the steel market getting intensively competitive with each passing day, it becomes vital for companies in the steel industry to improve cost competitiveness in the market. However, by incorporating competitive benchmarking solution, steel companies can overcome cost competitiveness. This article from Infiniti Research highlights how competitive benchmarking help steel companies focus on resource utilization, reduce wastages, and overcome cost competitiveness. Read the complete article here.