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competitive intelligence

Unlocking the Power of Competitive Intelligence in Strategic Decision Making: Infiniti’s Latest Newsletter

LONDON: Infiniti Research, a leading provider of market intelligence solutions, has announced the launch of their latest newsletter on how competitive intelligence can influence strategic decision making. Running a race blindfolded is never easy and getting to the finish line is even more challenging. This could be the case of any organization that doesn’t use effective competitive intelligence services. Having a clear understanding of your competitors and how you differentiate yourself and your business paves the way for success in the long run.

Over the past 15 years, we have undertaken 500+ projects across all major regions and industry sectors, helping clients plan and execute the strategies required to sustain and grow. Get in touch with our experts for more insights on our customer intelligence solutions.

Why competitive intelligence is a gamechanger for retailers

When it comes to your competition, the more you know about what they’re doing now and what they’re planning to do in the future, the better decisions you’ll be able to make. As companies in the retail industry fight for the biggest chunk of the market share, competitive intelligence services can be leveraged to gain a complete picture of the competition’s front end, back end, logistics, supply chain, and marketing strategies. Experts at Infiniti Research believe that competitive intelligence is already revolutionizing the way retailers plan and execute their strategies. Furthermore, competitive intelligence services offer key benefits to retailers including identifying new market opportunities, analyzing market trends, and enhancing decision-making. Read more about why competitive intelligence is paramount for retailers on Infiniti’s blog.

How competitive intelligence can drive marketing strategy and boost ROI

Today, brands are largely defined and judged by the content they create. Creating content that resonates with the target audience is critical for success. Competitive intelligence enables paves the way to fine-tune the content on what works for the market based on the successes and failures of the competitor’s content. Furthermore, it provides insights and intelligence on what is needed to thrive in the ever-changing market. In this article, we have discussed some of the effective ways competitive intelligence can drive your marketing strategy and boost your ROI.

Using social listening to enhance competitive intelligence

With social media, it’s now easier than ever before for brands to understand customer behavior. The abundance of data available also allows brands to fine-tune their competitive intelligence strategies. Modern companies are aware of the opportunities for engaging their audience across social media. Furthermore, savvy marketers are using data from social media platforms and enhancing their social listening skills in order to improve their marketing strategies. Social listening tools also provide key insights on customer sentiments and perception of competitor products when compared to their own. This free downloadable resource from Infiniti will help you understand how businesses can enhance their competitive intelligence through social listening.

Leveraging Competitive Intelligence: What’s in it for Your Business?

In order to maintain brand relevancy, it is extremely crucial for brands to evolve according to the changing market trends. As several emerging and new companies are already disrupting the business of bigger companies, it is vital for brands to keep an eye out for new players in the market in order to stay competitive. However, keeping up with market trends and what other players are up to is not an easy task. On this blog, thought leaders from Infiniti explain why every modern business organization must leverage competitive intelligence solutions and also highlights some key benefits that they can derive using competitive intelligence.

Competitive Landscape Analysis

Infiniti’s Competitive Landscape Analysis Accelerates Process Agility and Efficiency for a European Manufacturing Firm

Competitive landscape analysis for the manufacturing industry

The European manufacturing industry is witnessing a phase of tremendous disruption due to the increasing need to embrace automation, become more sustainable, and address the skill shortages. To keep up with the industry transformations, major companies in the manufacturing industry are capitalizing on new opportunities, employing risk mitigation strategies, and mitigating challenges along the supply chain. However, before making huge investments into new market opportunities and investing in technologies, it is vital for manufacturing companies to assess the competitive landscape in the market and make changes in their strategies accordingly.

Business Challenges Faced

The client is a manufacturing company based out of Europe. With leading players in the manufacturing industry taking initiatives in confronting uncertainties in the market and meeting the market demands, the client was losing their market share to their competitors. Also, the client’s inability to address the skill shortages and employ risk mitigation strategies further impacted the company’s overall sales rate. Consequently, the company witnessed a dip in their profit margins by 17%. The client, therefore, approached the experts at Infiniti Research to leverage their expertise in offering competitive landscape analysis.

With Infiniti’s competitive landscape analysis, the client wanted to tackle challenges such as:

Supply chain issues

The inability of an efficient inventory management process resulted in a huge mismatch in the supply and demand. As a result, the company failed to meet their customers’ demands, and this subsequently resulted in lower sales. With Infiniti’s competitive landscape analysis, the client wanted to closely analyze their direct and indirect competitors’ inventory management processes and make changes in their plans accordingly to efficiently meet the market demand.

Need for sustainability

The increasing pressure from government and public for greener operations put the company under the pressure to become more sustainable. Therefore, with Infiniti’s competitive landscape analysis, the client wanted to understand the strategies adopted by top industry players to tackle this challenge.

Need to address skill shortages

Although automation and robotics are filling the labor gap in the manufacturing industry, there are still requirements of human capabilities in manufacturing companies. The client, therefore, wanted to overcome the workforce management challenges.

Data protection

With cyberthreats increasing in the manufacturing industry, investment in data security is becoming imperative for manufacturing companies. Hence, with Infiniti’s competitive landscape analysis, the client wanted to analyze the risk mitigation strategies leveraged by their key competitors.

Investing in new technologies

With the advent of technologies such automation, Industrial Internet of Things (IIoT), cloud computing, and robotics in the manufacturing industry, major companies have started embracing these technologies and delivering the best quality product at a faster pace. As such, with Infiniti’s competitive landscape analysis, the client wanted to monitor their competitors’ investment in new technologies and processes.

Solutions Offered

To help the client tackle the industry challenges and analyze their direct and indirect competitors, the experts at Infiniti Research employed competitive landscape research.

The initial stage of the competitive landscape analysis engagement involved conducting competitive benchmarking analysis. This phase of the competitive landscape analysis engagement helped the client to gain an independent perspective of how well their company performed compared to their competitors. Also, the client was able to drill down into their performance gaps to identify areas of improvement. The client was also able to identify the sustainable manufacturing practices adopted by their key competitors to minimize negative environmental impact. Furthermore, this phase of the competitive landscape analysis engagement also enabled the client to monitor their competitors’ initiatives in employing new technologies and processes.

As a part of the competitive landscape analysis engagement, the experts also conducted demand management and risk assessment process. This phase of the competitive landscape analysis engagement helped the client to efficiently forecast the demand for their products in advance and minimize supply and demand mismatch. This further helped the client in managing their production process and enhancing efficiency.

Also, the risk assessment process conducted as a part of the competitive landscape analysis engagement helped the client to identify cyber risks in the manufacturing industry and employ cybersecurity initiatives to mitigate them before they impact their business operations. Furthermore, with Infiniti’s competitive landscape analysis, the client was able to estimate the viability of their new products and evaluate the effectiveness of their marketing strategy compared to their competitors.

Results Obtained

The insights obtained from Infiniti’s competitive landscape analysis engagement helped the client to identify gaps in their product and service offerings compared to their competitors. Also, with Infiniti’s competitive landscape analysis engagement, the client was able to keep pace with their competitors’ business strategies and make changes in their business plans when required. Within one year, the client was able to achieve a huge increase in their sales. This subsequently helped the client to enhance process agility and reduce operating cost by 33%.

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competitive benchmarking

Six Competitive Benchmarking Best Practices to Enhance Your Growth Strategy

Businesses across the globe are shifting their focus to building top-notch customer experiences. So, having a competitive benchmarking strategy is vital to stay ahead of the game. Although competitive benchmarking essentially involves comparing your company’s performance with those of the key competitors, it is much more than a casual and anecdotal view of the competition. It also involves pinpointing which of the competitor strategies to focus on and also provides an idea on the benchmarking metrices to use. A well thought-out competitive benchmarking strategy is a worthwhile pursuit that will yield desired results for businesses. It helps to measure the performance of a company and compare it to others over time. Take a look at these six competitive benchmarking best practices to follow for effective and impactful business results.

Competitive benchmarking best practices

Begin early

Understanding competition and gaining a clear overview of their strategies is like a map that shows a business the path to their ultimate destination. The sooner this is done, the better for companies to transition from a reactive to a strategic organization. Half the work in competitive benchmarking is done if businesses know where to begin. Also make it a point to establish a measurement and tracking system that keeps tabs on the progress.

Maintain a timeline

Competitive benchmarking is an extremely time consuming process as it involves researching competitors, analyzing opportunities of improvement, and implementing changes. It is advisable to limit the scope of benchmarking to research and other activities that can be finished within a time period that reflects a typical planning cycle in the company. By doing so, businesses can analyze how they compare to their competitors early in the cycle, implement changes, and share the results that can help in better planning for the next quarter.

Take inspiration from other industries

Organization can gain useful insights from analyzing companies operating outside their industry. Start by identifying one critical problem and then understand how companies in other industries with similar challenges are handling the situation. Understanding how companies in other industries are solving challenges can help organizations frame similar strategies to overcome their problems. For instance, examining how companies in the retail industry handles customer grievances and their increased focus on customer experience can help companies in other sectors to follow similar strategies to retain their customers.

Use meaningful metrics

There are several metrices that can be used to measure the overall health of a business. This makes it essential for businesses to be collectively clear on which metrics define superior performance and world-class customer support. Benchmarking research should be limited to factors that are standard across the industry, making comparison easier. Before rolling out the plan, it is also important to involve various teams to reach a consensus on how these metrics will be measured. Furthermore, focusing on key business-driving metrics like revenue, order volume, and cost of goods sold makes researching competitors and measuring success more effective.

Focus on operational improvements

Once an organization gains a clear understanding of where they want to be, focus should be shifted to team operations rather than emphasizing only on metrics. Statics can only be studied to make improvements, however, factors such as people, processes, technology, and strategies can be improved to enhance the overall performance of the business before it is too late.

Choose the right peer group

Key factors including location, size, industry, product category, and business model should be taken into consideration based on the company’s goals. For instance, if the prime objective of an organization is to understand how your performance compares to companies similar to theirs, they must limit the peer group to the same industry. However, if the intent is to gain perspective on different business processes and push the team to think outside the box, studying companies in different industries could prove to be a great option.

Competitive benchmarking analysis

Infiniti’s Competitive Benchmarking Analysis Engagement to Reduce Operational Cost by 20% for an Automotive Company

Competitive Benchmarking Analysis for the Automotive Industry

Globalisation has brought about major challenges for companies operating in the automotive industry and has increased the competition between international and domestic automakers. Also, the increasing demand for digitalization is pressurizing automakers to invest in technology and better supply and distribution chain management. Owing to such challenges, gaining a competitive edge has become all the more essential for companies in the automotive industry. To achieve this, automotive companies will need to compare their products, services, processes, and practices to their direct competitors using standard industry benchmarks. This is where companies realize the need to leverage competitive benchmarking analysis.

Do you want to know how your products and services measure up against your competitors? Request a FREE proposal to know how our competitive benchmarking analysis solutions can help you understand your performance relative to close competitors and drill down into performance gaps to identify areas for improvement.

Business Challenge

The client is an automotive product manufacturer based out of Central Europe. The company supplies instrument panel and cockpit components, safety products, and interior and exterior trim products. With a large number of automotive manufacturers and suppliers entering the European automotive market every year, the client was facing challenges in competing with them in terms of product, quality, and capability. Also, the client was losing their market share to their competitors. Therefore, the client wanted to compare their own performance with other major automakers in the market. Also, they wanted to identify their shortcoming and strengths compared with other major automakers in Europe. Therefore, they approached Infiniti Research to leverage their expertise in offering competitive benchmarking solution. Furthermore, with Infiniti’s competitive benchmarking analysis solution, the automotive company wanted to make improvements in productivity, quality, and reliability to drive down cost and keep customers satisfied.

With Infiniti’s competitive benchmarking solution, the automotive company also wanted to tackle these challenges:

  • Today, technological advancements and innovations have increased the expectations of customers. Like all other sectors, this has equally transformed the automotive sector. With this, companies in the automotive industry are pressurized to invest more in new technologies. Therefore, with Infiniti’s competitive benchmarking analysis, the client wanted to monitor how they compared with their competitors’ in terms of adoption of new technologies and processes.
  • Having an efficient supply chain and distribution system has become equally important for automotive companies. With Infiniti’s competitive benchmarking analysis, the client wanted to analyze the supply and distribution system managed by their key competitors. By doing so, they wanted to analyze their shortcomings compared with their competitors.
  • The client’s inability in responding to customer expectations in time and providing them auto products meeting their utility expectation largely impacted their brand image. Therefore, with Infiniti’s competitive benchmarking analysis, the automotive product manufacturer wanted to understand how their brand measured up against other companies in the market.
  • Changing economic and geopolitical conditions in Europe brought about unexpected uncertainties and financial risks for automotive companies. Therefore, by leveraging Infiniti’s competitive benchmarking analysis engagement, the client wanted to understand the company’s financial position compared with other major competitors.

Are you facing difficulties in monitoring your competitors’ processes and planning? CONTACT US to know how our competitive benchmarking analysis solution can help you easily track your competitors’ strategies and develop a standardized set of processes and metrics to measure up against your competitors.

Solutions Offered

The experts at Infiniti Research followed a three-phased engagement to competitive benchmarking.

Process benchmarking – In this stage of competitive benchmarking analysis engagement, the experts at Infiniti Research compared the client’s business process with that of their competitors. This involved analyzing the client’s operational performance, supply chain and distribution processes. This phase of Infiniti’s competitive benchmarking analysis engagement helped the client to identify processes that needed improvement.

Strategic benchmarking – In this phase of benchmarking analysis, the experts at Infiniti Research identified the winning strategies employed by the client’s key competitors. Also, the experts analyzed how the client’s business strategies compared with their competitors. This phase of competitive benchmarking analysis engagement helped the client in understanding how their competitors adapted to the latest technological innovations and advancements. This even helped the client in better planning and goal setting.

Performance benchmarking – The last phase of the competitive benchmarking analysis engagement involved analyzing competitors’ performance metrics and processes. This phase even involved analyzing the financial performance of the client compared with other major competitors.

With Infiniti’s competitive benchmarking analysis solution, the client was able to understand their performance relative to close competitors. Infiniti’s competitive benchmarking analysis engagement also helped the client to understand how the company’s processes, business planning, and financial performance compared with that of their direct and indirect competitors. With this, they were able to identify and prioritize performance gaps. Furthermore, by prioritizing the performance gap, the client was able to implement improvement opportunities to gain a competitive edge in the market.

Infiniti’s competitive benchmarking analysis engagement even helped the automotive company to identify where they lagged compared with their competitors in terms of supply chain and distribution capabilities, adoption of technologies, and management of capital requirements. This helped them make changes in their processes and business practices to meet the needs and demands of their customers.

Also, Infiniti’s competitive benchmarking engagement helped the client to develop a standardized set of processes and metrics to meet the industry standards. Within eight months of employing competitive benchmarking analysis engagement, the client was able to reduce operating cost by 20%, saving $7.8 million.

Want to gain more insights into our competitive benchmarking analysis solutions? Request for more info!

What is competitive benchmarking analysis?

Competitive benchmarking analysis is defined as the process of comparing a company’s business performance with that of its direct and indirect competitors. Competitive benchmarking analysis helps businesses identify improvement opportunities in their business process. Furthermore, by leveraging competitive benchmarking analysis solution, businesses can also understand the shortcoming and strengths of their competitors and make well-informed business decisions.

Competitive Benchmarking Tactics to Measure Your Brand

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Infiniti’s competitive benchmarking analysis solution helped a company in the food and beverage industry to create a new marketing strategy by relying on the key differentiators. To gain complete insights, read the full story here.

Competitive Benchmarking Analysis for a Food and Beverage Firm – An Infiniti Research Success Story

 

competitor analysis

Transforming Production Processes and Increasing Market Share by 37% for a Food Packaging Company – Infiniti’s Latest Competitor Analysis Engagement

Competitor Analysis for Food Packaging Company

With technological progression and market advancements, the food packaging industry continues to evolve. Moreover, the trends in packaging such as the introduction of sustainable packaging practices, convenient on-the-go packaging, clean labels, and healthy choices have gradually increased the number of new entrants into the European food packaging market. This has made it vital for existing players in the European food packaging market to keep track of their competitors’ plan and actions and refine their existing business models to achieve maximum profitability. Therefore, companies are partnering with firms like Infiniti Research to leverage their expertise in offering competitor analysis solution.

Do you know what your shortcoming are when compared to your competitors? If not, our experts can help you identify your strengths and weaknesses compared with your competitors. Request a FREE proposal today!

Business Challenge

The client is a food packaging company based out of Europe. The entry of new players drastically increased the competition in the European food packaging market. The client, therefore, was facing difficulties in competing with other major players, in terms of cost, quality, and capabilities in providing innovative packaging offerings for customers. Moreover, they were losing customers and market share to their competitors due to their inability to competitively price their products. This compelled them to reduce the price for their products, which subsequently resulted in a loss in profit margin by 7%.

Therefore, they approached the experts at Infiniti Research to leverage their expertise in offering competitor analysis solution. By leveraging Infiniti’s competitor analysis solution, the client wanted to explore ways to stay competitive in the market by distinguishing market disruptions, analyzing competitors, and developing strategic business plans.

By leveraging Infiniti’s competitor analysis solution, the client also wanted to tackle several other market challenges:

  • With the increasing demand for environmental-friendly packaging materials in Europe, the client was facing difficulties in adapting to the evolving market demands. With this, they were losing market share to their competitors who had already adopted environmental-friendly packaging strategies. Therefore, with Infiniti’s competitor analysis solution, the client wanted to analyze their competitors’ offerings in direct comparison to theirs and focus on enhancing their business processes.
  • The client noted that their competitors have already leveraged automation solutions in their business operations. With Infiniti’s competitor analysis solution, the client wanted to identify the technologies leveraged by their competitors. By doing so, they also wanted to adapt to the evolving technologies to maximize uptime and enhance their operations.
  • The client’s unstructured approach to marketing and sales resulted in huge capital losses for the company. By closely analyzing the strategies adopted by their competitors, the client wanted to refine their existing marketing models and devise marketing campaigns that drive maximum sales.
  • The client’s key competitors were offering discounts and other introductory offers to customers. With this, the client was compelled to reduce prices for their packaging materials. Therefore, by leveraging Infiniti’s competitor analysis solution, they wanted to analyze the pricing strategies followed by their competitors and competitively price their products.

Our tailored and intelligent solutions empower our clients to make an informed business decision and maximize profitability. CONTACT US to learn more about our services their benefits for your business.

Solutions Offered and Value Delivered

Our experts followed a detailed four-phased competitor analysis approach to help the client tackle the industry challenges. The initial phase of the competitor analysis engagement involved identifying businesses offering similar products and services in the European packaging industry. The next phase of our competitor analysis engagement focused on identifying the client’s key competitors’ customer base. In the third phase of the competitor analysis engagement, the experts focused on evaluating the strengths and weaknesses of the client in comparison to their competitors. The last phase of our competitor analysis engagement involved conducting a competitive benchmarking analysis, competitor mapping, and also identifying the marketing approaches employed by the client’s competitors.

The insights obtained from Infiniti’s competitor analysis solution helped the client to gain detailed insights about their end-customers, current market position, and their key competitors. Understanding the needs and demand of their target customers helped the client to innovate their product offerings according to their customers’ requirements. By gaining detailed insights into their competitors’ key strategies and marketing approaches, the client was able to devise well-informed business plans to tailor their product offerings. Also, the experts at Infiniti Research recommended the client to apply automation solutions in their production process. This helped the client to enhance their production efficiency and better manage workflow.

Infiniti’s competitor analysis solution also helped the client to understand their competitors’ pricing strategies and make constant changes in their pricing plans. With Infiniti’s competitor analysis solutuon, the client was also able to balance quality and growth. Furthermore, Infiniti’s competitor analysis solution helped the packaging company to better allocate resources and enhance their market share by 37% within the course of one year.

CS info

Our competitor analysis solution can help your company gain a leading edge in the market. Want to know how? Request for more info!

Importance of Competitor Analysis for Packaging Industry

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Our competitor analysis solution helped a banking company assess key competitors and devise an efficient strategy to establish themselves in the European market. Want to know the approaches underteken by the experts at Infiniti Research to help the client? Read the complete success story below.

Competitor Analysis for a Leading Banking Sector Client Helps Assess Key Competitors and Devise an Effective Strategy to Establish Themselves in the European Market

competitive product analysis

Steps to Undertake an Effective Competitive Product Analysis

It is vital for every business to evaluate and understand their position in the market. A competitive product analysis will help companies to determine where they stand within the industry and also help businesses understand what needs to be done to outperform the competitors. Paying attention to what competitors are offering is important for everyone, but for product managers, it can be particularly valuable. Not only does competitive product analysis illustrate a product’s strengths and weaknesses in comparison to its peers in the market, but it also provides a better idea on how to sell and position it. In this blog, experts at Infiniti Research discusses the key steps involved in effective competitive product analysis.

Find out what your competitors are up to! Request a free proposal to know how our competitive product analysis solutions can help you evaluate your product performance compared to your peers in the market and formulate effective strategies to revive your brand.

How to do a competitive product analysis?

Competitive product analysisIdentify competitors

Before undertaking a competitive product analysis, businesses must have a thorough understanding of who their key competitors in the market are. Direct competitors are those who are selling similar products and share the same target market. Increased emphasis should be laid on understanding the market strategies of these companies and what can be done differently to gain more market share than these companies.

Undertake competitor research

Once the direct competitors are listed out, the next step is to start the competitor research. The best way to do this is through a professional market research study for each competitor. It helps companies to gain a better understanding of similar businesses in the industry and their strategies. Thereby, they can better market their company and product as the optimal choice for consumers.

Are you looking for ways to outperform your peers in the market? Request a free brochure to know how our competitor intelligence solutions can help you achieve this.

Gather and analyze product information

The next step in a competitive product analysis is to gather comprehensive detail regarding the competitor brands in the market. This can primarily be done by reading their sales brochures, browsing their website and, going through their annual reports if available. These sources can provide a plethora of useful data such as how much the other businesses are pricing their products, how well they’re performing, and where the business stands against the competitors in the market.

Develop competitive strategy

The final step of competitive product analysis is to use the data collected to create an effective competitive strategy. The strategy should outline what sets the business apart from others in the market and what must be done in order to market the brand as a better consumer option than other products available. The competitive product analysis of the competitor must also be able to identify the competitor’s marketing strategies. This will help businesses enhance their product positioning and marketing strategies.

Learn more about Infiniti’s solutions for business.

Competitive benchmarking

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 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.

Companies that do not measure up against their competitors have greater chances of failure in the market. Request a FREE brochure to learn more about our services portfolio and to know how our solutions help companies strategize their business plans to create additional business value.

#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.

Infiniti’s Competitive Benchmarking Solution Assists an Automotive Company Establish Market Presence in Germany

#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.

Competitive Benchmarking Analysis for a Food and Beverage Firm – An Infiniti Research Success Story

#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.

Fostering a Competitive Culture Using Competitive Benchmarking Analysis – A Case Study on the US Healthcare Industry

#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.

Infiniti’s Competitive Benchmarking Assists a Leading Reverse Logistics Company Establish Market Presence

Request a FREE proposal to know how our competitive benchmarking solution will help you monitor your competitors’ strategies and formulate strategies to stay ahead of them.

#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.

Competitive Benchmarking Enables a Leading Network Services Provider to Enhance their Service Offerings in the Latin American Market

#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.

Five Critical Steps in Competitive Benchmarking

#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.

Analyzing the Competitors for a Telecommunication Industry with the Help of a Competitive Benchmarking– A Case Study by Infiniti Research

#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.

How can Benchmarking Help Improve Cost Competitiveness in the Steel Market?

CONTACT US to learn more about our competitive benchmarking solutions and their importance for your business.

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Infiniti’s Competitive Benchmarking Solution Assists an Automotive Company Establish Market Presence in Germany

Business Challenge

Companies in the automotive industry are facing a period of rapid competition and increased capital spending in an effort to compete with major automakers in the industry. This coupled with the adoption of autonomous technology by top competitors has increased the pressure on automakers to innovate their offerings, understand competitors’ key strategies, and develop a competitive benchmarking strategy to achieve their business goals.

The client is an automotive industry player in Germany and was new to the market. The company was facing predicaments in profiling competitors’ and promoting their service offerings in Germany. The client wanted to gain a fair perspective of how well they performed compared to other major companies in the automotive industry. Additionally, the client encountered a decline in its sales rate for their automotive products. They wanted to improve their market share by understanding the potential game-changing efforts and initiatives undertaken by their competitors. Also, with the help of competitive benchmarking analysis, the client wanted to improve their product and service quality, efficiency, and enhance customer experience.

Is your inability to adapt to key strategies employed by your competitors resulting in revenue losses for your company? Our competitive benchmarking solutions help firms outperform their competition with real-time insights. Request for a FREE brochure to learn more about our services.

Solutions Offered and Value Delivered 

To identify and profile the key competitors in the automotive market space, the experts at Infiniti Research carried out extensive qualitative and quantitative research by conducting interviews and discussions with top market players in the industry.

The competitive benchmarking solutions offered by Infiniti Research helped the client to profile direct competitors in the market space. This helped them to assess competitor’s offerings and focus on performance gaps. The client also witnessed a gradual improvement in their service offerings and curtailed issues related to their automotive products. Infiniti’s competitive benchmarking analysis also helped the client differentiate their business from other players in the automotive market. Moreover, gaining a competitive advantage further helped them create a new marketing strategy and brand image by relying on the key differentiators. Within one year, the client was able to establish their market presence in Germany.

Competitive benchmarking process also helped the client to:

1. Improve the quality of their service and product offerings
2. Increase productivity while reducing cost
3. Prioritize the areas of improvement compared to their competitors
4. Improve their performance standards to stay relevant in the automotive marketspace

Benchmarking competitors remain to be a major challenge faced by players in the automotive sector. Our competitive benchmarking process simplifies the entire process. Request for a FREE proposal to know how.

What is Competitive Benchmarking?

Competitive benchmarking analysis is the process of comparing an organization’s performance with that of its direct competitors in the industry. Apart from giving an organized overview of the company compared with their competitors, competitive benchmarking analysis also reveals performance gaps, improvement opportunities, and highlights competitors’ strategies that need to be countered. In this competitive world, a competitive benchmarking analysis is a common practice to establish baselines, define best practices, and identify improvement opportunities.

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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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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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Identifying Performance Gaps and Areas for Improvement for an Automotive Manufacturer With the Aid of Competitive Benchmarking

Competitive Benchmarking Strategies for an Automaker 

About the Client 

For over 7 years, the client has been a leading automotive manufacturer serving customers throughout the Western United States. With a workforce of 470+, the company was looking to expand their access to new market segments.

The Business Challenge 

Companies in the US automotive industry are facing a period of rapid competition and capital spending in their effort to compete with other automakers from across the globe. Moreover, with autonomous technology entering the market, automotive manufacturers are facing safety issues, fierce competition, and a shift in their business models. This coupled with the adoption of autonomous technology by top competitors has increased the pressure on automakers to innovate, understand competitors’ key strategies, and develop a competitive benchmarking strategy to accomplish their business goals.

The business case: Infiniti Research was approached by a major automotive manufacturer who was looking to gain a fair perspective on how well they performed compared to other organizations in the automotive industry. In addition, the company encountered a decline in its sales rate for their automotive products and wanted to improve its market share by understanding the potential game-changing efforts and initiatives undertaken by its competitors.

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Top Challenges Faced by Automotive Manufacturer 

Problem Statement 1: Revenue loss

The client’s unstructured approach to competitive benchmarking and their failure to identify competitors key marketing strategies resulted in revenue losses for the company, leading to a sharp decline in their market position. With the help of Infiniti’s competitive benchmarking solution, the client wanted to continuously improve the quality of their products and services by scrupulously monitoring the initiatives undertaken by their competitors.

Problem Statement 2: Retaining profitability

Owing to commodity price shifts and dynamism in the market, the automotive manufacturer found it challenging to retain their profit margins. By leveraging competitive benchmarking practices, they wanted to develop a standardized set of processes and competitive benchmarking metrics.

Problem Statement 3: Increasing productivity

By analyzing the sales rate of competitors, the client realized that implementing the latest automotive technologies was the key to success. Hence, by leveraging a competitive benchmarking strategy, the client wanted to gain valuable data on the current technologies and processes followed in the business environment for increasing productivity, while reducing costs.

Problem Statement 4: Identifying performance gaps

With the aid of Infiniti’s competitive benchmarking analysis, the client wanted to drill down into performance gaps to identify areas for improvement.

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Solutions Delivered and Value Offered 

By analyzing the industry challenges and requirements of the client, the experts at Infiniti Research developed a plan for effective competitive benchmarking analysis. The competitive benchmarking process revolved around the following phases:

Phase 1

The initial phase of the competitive benchmarking process involved conducting extensive researches to gain an understanding of the key competitors of the client.

Phase 2

The second phase revolved around categorizing the key competitors based on competition – direct, indirect, and substitute competitors.

Direct competitors – Companies that offered the same portfolio of services and products to the same target region as the client

Indirect competitors – Companies that targeted different clientele within the same business space

Substitute competitors – Companies that offer different products and services to the same target customers as the client

Phase 3

The third phase after categorization of the key competitors involved analyzing common marketing patterns and competitors’ weaknesses to help the client differentiate themselves by offering products and services that fill gaps that their competitors have not addressed.

Phase 4

By leveraging market information and data obtained from competitors, a competitive benchmarking framework was devised, which included detailed company profiles and an analysis of current activities and future industry developments of all the top competitors.

Phase 5

The competitive benchmarking framework helped the client to analyze competitors in terms of market penetration, product and market development, and clearly illustrated their market positioning in the target markets.

With the help of a comprehensive competitive benchmarking process, the experts at Infiniti Research helped the client assess the market opportunities in the focus geographies. The further helped them reveal all hidden opportunities in the market. Infiniti’s competitive benchmarking analysis also helped the client differentiate their business from other players in the automotive market. Moreover, recognizing a competitive advantage further helped them create a new marketing strategy and brand image by relying on the key differentiators.

Competitive benchmarking process also helped the client to:

  • Improve the quality of their services and products.
  • Increase productivity while reducing cost
  • Prioritize the areas of improvement
  • Improve their performance standards to stay relevant in the market

Lack of competitive benchmarking strategies can result in huge loses in sales, leading to a sharp decline in your market position!

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What is Competitive Benchmarking?

Competitive benchmarking is the process of analyzing a company’s performance with that of its competitors in the industry using a set collection of metrics.  Using a competitive benchmarking analysis, not only can firms get an organized overview of their company and how it performs on different levels, benchmarking can systematically reveal performance gaps and improvement opportunities and highlight competitor strategies that need to be countered. Competitive benchmarking is a common practice to establish baselines, define best practices, identify improvement opportunities and create a competitive environment within the organizations.

What are the steps in a competitive benchmarking process?

For companies looking to build a robust competitive benchmarking framework, here are certain steps that you must follow:

Set clear goals – Businesses need to make smart decisions of their business goals.

Identify the data source – Businesses must identify the sources for the data that they want to gather for competitive benchmarking. It is vital to keep the data consistent. While choosing external sources of data for the competitive benchmarking framework it must be ensured that the data is consistent.

Set regular intervals of measurement – The time intervals at which an organization must undertake competitive benchmarking solely depends on the activities and benchmarks that they are focusing on. It is up to the organization to determine what the most appropriate interval is for the benchmark and for the business.

Implement plans and monitor results – The final step in establishing a robust competitive benchmarking framework is to execute the set processes of measuring performance and identify the deviations.

Benchmarking competitors remain to be a major challenge faced by players in the automotive sector. Our competitive benchmarking solutions simplifies the entire process. CONTACT US to know more about our services.

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