Competitive Assessment Solution for a Beverage Company
In today’s competitive marketplace, achieving profitable business growth requires offering products and services that stand out from the competition. However, fulfilling this strategic objective becomes difficult as most businesses face competition from other companies offering similar products and services. This is where the real power of leveraging competitive assessment solution comes into play. Competitive assessment solution helps business leaders to gather actionable competitive insights and make effective future strategies. Besides, competitive assessment solution helps businesses to stay on top of what competitors are doing and identify business gaps to differentiate offerings.
The client is a beverage company based out of Germany.
Our client, a beverage company, wanted to identify areas where they performed well or lagged in comparison to their competitors. Also, as they were new to the market, they wanted to identify their direct and indirect competitors. Besides, they wanted to compare their market position, product offerings, market share, and pricing in comparison to their competitors. They approached the experts at Infiniti Research to leverage their expertise in offering competitive assessment solution.
Other key objectives that the client wanted to achieve by leveraging Infiniti’s competitive assessment solution were:
Identify direct and indirect competitors – With Infiniti’s competitive assessment solution, the client wanted to identify businesses that provided similar products and services and that offered slightly different products and services.
Gather competitive data and insights – By identifying direct and indirect competitors, the client wanted to evaluate their competitors’ product offerings, pricing, market reputation, positioning, and branding.
Analyze competitors’ strengths and weaknesses – With Infiniti’s competitive assessment solution, the client wanted to identify areas where they performed well or lagged in comparison to their competitors. By doing so, they wanted to build strategies to take advantage of their competitors’ weak points.
Measure marketing effectiveness – By leveraging Infiniti’s competitive assessment solution, the client wanted to analyze the effectiveness of their marketing campaigns in comparison to their competitors. By doing so, they wanted to streamline their marketing campaigns to drive maximum sales.
The experts at Infiniti Research followed a four-phased approach that involved:
Competitor mapping to identify the top companies in the German beverage market and group them based on their market position.
Competitive benchmarking analysis to compare the client’s offerings with that of the top companies in the German beverage market.
Competitive pricing analysis to measure customers’ sensitivity to price changes and identify price gaps.
Marketing and strategy engagement to measure the effectiveness of the client’s marketing campaigns.
The insights obtained from Infiniti’s competitive assessment solution helped the client to understand how well they performed in comparison to the top companies in the German beverage market. Also, the client was able to identify areas that needed improvement and refine their business initiatives. Besides, by closely monitoring their competitors’ offerings, they were able to identify business gaps and differentiate their product offerings.
Infiniti’s competitor analysis solution also helped the client to understand their current market position. Besides, they were able to adopt sound pricing strategies and competitively price their products.
Furthermore, by leveraging Infiniti’s competitive assessment solution, the client was able to:
- Identify unmet customer needs and revamp business strategies
- Serve niche market segments
- Keep up with technological advancements and market developments
- Gain a strategic edge in the market