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competitive intelligence

How Competitive Intelligence is Changing the Game for Retailers

The cutthroat competition in the market today is making it more challenging than ever before for retailers to benchmark their pricing assortment and promotions against their counterparts in the market. Furthermore, trends such as the growing inclination towards mobile shopping apps and the rising influence of customer reviews in buying behavior are adding to the complexity. Ergo, to gain a competitive edge in the market, every retailer must leverage competitive intelligence solutions.

What is competitive intelligence?

The information collected by a company relating to its target market and key competitors, which is then analyzed to create a highly effective business strategy is termed as competitive intelligence. Competitive intelligence tools are used to assemble important market information and derive actionable insights. Competitive intelligence solutions include a deep-dive exercise wherein businesses unearth the finer points relating to their competitor’s business plan including their customer base and the markets in which they serve.

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. Request a free proposal to know more about our competitive intelligence solution.

Competitive intelligence in the retail industry

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. Here’s how competitive intelligence can benefit companies in the retail industry:

Competitive intelligenceIdentify new market opportunities

When retailers identify the rival’s weaknesses by leveraging competitive intelligence solutions, it helps them instigate ideas to fill these gaps through product or service improvement and other innovative ideas to enhance customer service. Competitive intelligence can help companies in the retail industry to identify untapped opportunities and thereby solve customers’ unmet needs. Conducting regular competitive analysis will give retailers a clear idea of the areas of improvement in terms of product or service performance, company policy, and customer interaction.

Analyze market trends

In order to survive successfully and beat the market competition, it is imperative for retailers to be aware of the latest market trends and analyze what their counterparts in the market are doing to stay in the game. By using competitive intelligence solutions to learn about other businesses, technologies, and the buzz in the market, retailers can discover the market trends that have the potential to garner more customers and increase sales. Competitor research gives retail companies a chance to learn about how the marketplace runs and understand the spending culture of customers in a particular market.

Enhance product offerings

Using competitive intelligence tools, retailers can monitor their competitor’s product features and pricing strategies. Through this they can understand the ebb and flow of their SKUs’ pricing across the industry. By keeping a close watch on the competitors’ product offering companies in the retail industry can determine the ideal mix of SKUs to offer and identify potential opportunities for improvement.

Better decision making

Knowing what the competitors are doing makes it easier for retail companies to plan their next move. Retailers will be able to stay competitive if they can anticipate what similar companies are planning. The competitive intelligence information may confirm that the current direction will keep them competitive. In other cases, they may realize they need to steer the company in a different direction based on what competitors are doing.

Not sure on how to gather your competitor’s data? Request more information to know how our competitive intelligence service can help.

Internal benefits of competitive intelligence analysis in retail

Benefits for the marketing team

The data gathered about the competitors’ marketing efforts, whether that be content marketing, events, social media, messaging, or A/B tests, can be used to improve and implement innovative marketing initiatives. By collaborating with the product team, the product marketers can craft powerful messaging strategies to assist with upcoming product launches or other marketing initiatives.

Benefits for the sales team

The information that is obtained from the competitor’s sales teams, and products can be leveraged to improve the company’s sales collateral, demo scripts, and other sales processes. If the information gathered is turned into sales battlecards or competitor profiles, the sales team will be well equipped with the information needed to turn competitor data into actionable insights. Furthermore, this can give the sales team the competitive edge that they need to close more deals.

Benefits for the product team

Retailers can improve their product offerings by gathering information about competitors’ products through their websites, customer reviews, and online forums. The product team can analyze the specifications of the competitors’ products, how they work, and what people like (or dislike) in order to make improvements to their own products.

Top companies across industries use an external partner to gain better data insights and report positive results from that decision. Don't have time and expertise to undertake competitive intelligence on your own? Get in touch with our experts now!

Business Forecasting

Top 3 Ways Competitive Intelligence Can Drive Your Marketing Strategy

In a transitional world, brands are defined by the content they create and understanding what content is resonating with your competition is critical to the success of your business. Moreover, having a solid understanding of your competitors and how you differentiate yourself and your business paves the way to success. Being cognizant of your similarities is very important, especially when it comes to your marketing strategy and your consumers. This is where competitive intelligence helps. It acts as a key to sound market research and helps identify your niche. Competitive intelligence enables you to fine tune your content on what works for your market based on the successes and failures of your competitor’s content. Furthermore, it provides insights and intelligence on what is needed to thrive in the ever-changing world in which we work and live. In this article, we have talked about some of the effective ways competitive intelligence can drive your marketing strategy and boost your ROI.

How can competitive intelligence drive your marketing strategy?

#1. Competitive intelligence helps in analyzing the content that resonates

If there are too many players in your marketplace, there is a lot of information that you can tap into to create a solid marketing strategy. Competitive intelligence helps you to identify what works for your target market. It helps in researching your content and makes your experiment more focused and the learning curve less steep. It also aids in unveiling the content that drives the most engagement. This way you can design your marketing campaign better. 

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#2.  Competitive intelligence aids in examining the pricing that adds value

Competitive intelligence helps you understand the pricing regime in your industry which allows you to deliberately pitch yourself as a credible alternative. By knowing what the top players in your industry charge vs their services vs customer loyalty, you canGet More Info gain actionable insights into what the market values are and their existing business models.

#3. Competitive intelligence assists in formulating sales strategy that works

Sales strategy is perhaps the most crucial aspect to the success of any business. Competitor intelligence helps you to understand what your competitors are offering. This further paves the smooth way of engagement with the existing customers in your industry. This is also sometimes called a competitor displacement strategy. Acquiring new customers will also be easier if you spend time studying the successes and failures of your competitors.


Want to know how Infiniti’s competitive intelligence services can help you gain smarter insights and take real-time decisions? Contact us now!

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Market Entry Strategies

3 Questions You Must Answer Before Undertaking Competitor Analysis

Competition is a part and parcel of business. But the challenge here for companies is to identify the right strategies to go for the gold. Forward-thinking organizations must always keep a close watch on their peers in the market. Ignoring competition will result in problems that will be manifested through declining market share, lower sales, reduction in the number of customers, and to top it all cash-flow problems. These complications will consequently become elements of destruction for the business. Competitor analysis is the solution to prevent companies from being bowled-over by such mishaps. In this blog, our industry experts discuss three questions that companies must find answers in order to reap the benefits of competitor analysis:

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#1: What is competitor analysis?

Competitor analysis is a strategic assessment of the strengths and weaknesses of the current and potential competitors in the industry. Mere knowledge about the company’s competitors in insufficient in competitor analysis. Rather, businesses must undertake a systematic analysis of their competitors by gathering a wide array of information so that it is easier to make well-informed strategic decisions.

#2: What does competitor analysis do?

The first and foremost criteria that companies must fulfill before undertaking competitor analysis is to understand its purpose and the solution it provides. Competitor analysis primarily aims at Identifying the company’s competitors and evaluating their strategies to determine the strengths and weaknesses relative to those of youContact USr own. It is a strong step toward building a competent and dynamic marketing plan. Competitor analysis not only helps understand the competition, but it also helps enterprises evaluate what makes their company unique in a saturated business climate.

#3: How to conduct competitor analysis?

Competitor analysis is a great approach to undertake a comprehensive SWOT analysis of your company as well as the other players in the market. For this, it is essential to identify all the companies in the industry that could qualify as a potential competitor for your products and services. This can include both direct and indirect competitors to the business. Once the list is compiled, the next step is to group each of these competitors based on their degree of competition with your business. Some of the relevant questions to ask here include:

  • What is the scope of the competitor’s market share? 
  • What are their previous and current marketing strategies?
  • What are the potential threats that these competitors pose to your business?

 

Not sure how to find answers to these questions? Get in touch with us to know more.

Infiniti Advantage:

The need for competitive intelligence will continue to evolve given the ever-increasing competition across  industries. Infiniti Research is a leading provider of actionable competitive intelligence solutions that help global organizations compete and triumph in their respective industries. With over 15 years of expertise in helping clients from across the globe, our competitive intelligence team follows highly tailored and proven methodologies to analyze the market competition. We also provide succinct solutions for business decisions in areas including market opportunity assessment, emerging market planning, benchmarking, value-channel analysis, and customer segmentation.

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Benefits of Competitive Intelligence Services That You Can Never Ignore

Running a race blindfolded is never easy and getting to the finish line is even more difficult. You could say the same thing about an organization that doesn’t use effective competitive intelligence services. A company that is not able to analyze and monitor what is happening in the world outside the business is very similar to a blindfolded runner who can’t see hurdles, changes in direction, or other runners in his path. Competitive intelligence services help gain a real-time view of your competitive landscape. These services focus primarily on the competitors of a business. They also help record the competitive actions in the market and observe and analyze the data to derive effective conclusions. With the help of competitive intelligence services, companies can keep a track of the past activities of their competitors, which further helps them to forecast the activities of the future. This aids businesses to formulate proper business strategiesAsk An Analyst_IR and improve the financial operations of the businesses. Thus, businesses never lose the vision of their goals. We at Infiniti, have discovered are a few essential uses of competitive intelligence services that no business can avoid. (more…)

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Quick Service Restaurant Client leverages Competitive Intelligence to Stay Ahead of The Competitors

Quick service restaurant

LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest competitive intelligence solution for a quick service restaurant client. A quick service restaurant includes fast casual restaurants and fast food restaurants. The population growth and rising incomes are some of the main reasons for the rise in the number of players in the quick service restaurant space. With the rising awareness of a healthier lifestyle, players in this sector are striving to offer higher transparency in food preparation and sourcing.

“Competitive intelligence solutions help firms gather, analyze, and manage market information to make strategic and informed business decisions. Furthermore, the solution help organizations profile the competitors and boost their competitiveness in the market. “says an expert at Infiniti Research.

 

Request a FREE proposal today!

The solution offered helped the quick service restaurant client to identify the top competitors and continuously monitor their activities. The solution also assisted the client in evaluating the key performance indicators and efficiently analyzing their marketing resources to meet the business requirements. The client also gained detailed insights into the competitors’ value proposition.

Additional Benefits of The Competitive Intelligence Solution

  • Optimize business process and strategies by comparing them with that of the competitors
  • Collect data on the products, services, pricing models, and identify the unique selling propositions.
  • To know more, request a free proposal

To know more about how our competitive intelligence solution helped the quick service restaurant client

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Connected Car Technology

Infiniti’s Market Intelligence Assists a Renowned Investment Banking Service Provider Increase their Market Presence

Over the last couple of years, the global banking industry is driven by a weak global economy, digitization, and stringent regulations. Investment banks at large play a pivotal role in assisting companies, government, and other market participants to raise capital. With the recent regulatory concern, prominent investment banks are planning to shift from traditional underwriting businesses to mergers and acquisition advisory to reduce the capital investments. In addition, the recent recovery from the financial crisis is also compelling banks to redefine their business models to reduce operational costs and manage potential risks.

Several factors that may curtail the growth of the investment banking space include:

  • Block-chain technology: Despite robust advancements, leading investment banks are facing the need to streamline their front-office functions to improve their efficiency and leverage new business opportunities. With the introduction of the blockchain technology, prominent banks in the financial sector are necessitating the need for these technologies to minimize counterparty risks and increase transparency into the process.
  • Cybersecurity: In the recent years, cybersecurity becomes a major concern for the businesses in the investment banking space, where it becomes essential for the business to safeguard customer and transaction data. The current environment has witnessed a relentless growth in the cyber threats with criminals hacking operations and stealing information about institutional vulnerabilities. So, to keep pace with the rising threats, investment banking businesses should maintain and allocate their internal resources to actively curtail the vulnerabilities.

To address such challenges and gain relative insights into the market landscape, organizations are augmenting the need for a market intelligence solution.

A market intelligence solution provides a comprehensive understanding of the market landscape, the direct and the indirect competitors, and the financial factors in the market. IR_RFPA market intelligence solution also helps businesses in the investment banking space gather information on various data sets to improve the business models and projections.

The Business Challenge

  • The client: A renowned investment banking service provider

The client, a renowned investment banking company, wanted to gain relevant insights into the existing company’s market, customers, problems, and competition and the growth potential for new products and services. With the help of a market intelligence solution, the investment banking client needed to analyze the market opportunity to drive better decision making. The primary concern of the investment banking company was to increase the presence of the brand in the market and minimize the risk of investment decisions made wrong.

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Our Journey

To gather intelligence specifically to customer satisfaction, Infiniti’s market intelligence experts carried out extensive research comprising interviews and discussions with prominent stakeholders in the investment banking space. To fine-tune their resources, the experts also compiled information across a wide array of reliable sources such as trade shows, paid industry databases, and company presentations in the banking industry.

The Solution Benefits and the Business Impact

The market intelligence solution offered by Infiniti helped the investment banking client better understand the market, competition, and the landscape surrounding the target audience. The solution offered insightful ways for the investment banking company to reach out to the target audience, with the right channel, and at the right time. Infiniti’s market intelligence solution also focused on potential ways to analyze the competition and devote more resources to meet the business requirements specifically. In addition, the investment banking client was further able to deliver more personalized offerings to generate better returns on the investment.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the investment banking industry

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Competitive Intelligence Engagement: How Infiniti Helped a Renowned Machine Tools Manufacturer to Improve Competitive Effectiveness

Globally, the manufacturing industry accounts for approximately 16% of the GDP and 14% of the employment.

The machine tools market is expected to witness considerable growth due to the advent of new technologies and the development of machine tools with robot-based automation features. Machine tools are used to cut and shape metals and other materials based on product specifications. However, in this industry, the growing concern for versatility and productivity is compelling businesses to rely on innovations to improve their production capabilities. The growth of the machine tools manufacturing space can be attributed to factors such as the integration of 3D printing technology and rising demand for fabricated metals from the construction and machinery industry.

However, factors such as the rising demand for faster, intelligent, and more versatile machinery are posing a challenge for manufacturing companies and are bringing to light the dire need for implementing automation into their service architecture. A couple of additional factors that pose a challenge for companies in the machine tools market are:

  • Relentless technological advances: Over the last decade, companies in this industry have had to witness the mechanization of small and medium scale industries. With the rising preference for automation, various small and medium enterprises have started to face the need to re-invent their technological capabilities to meet the demand among the end-user segments.
  • The slowdown in the Chinese economy: The recent slow down in the Chinese economy hurt the growth of the manufacturing companies across the globe. With China registering 34% of the overall growth in the machine tools manufacturing space, the slowdown has dramatically affected their production capabilities.

Competitive intelligence solutions help businesses monitor the competitive scenario in the market and accordingly predict the next possible move to stay ahead of the competition. IR_RFPMoreover, the such solutions also focus on gathering, analyzing, and managing market information to make strategic and informed business decisions.

The Business Challenge

  • The client– A renowned machine tools manufacturer

The client, a renowned machine tools manufacturer, wanted to identify and profile their key competitors and enhance competitiveness in the market. The client wanted to gain strategic insights into the business environment and understand the marketing strategies of the key players in the machine tools manufacturing space. With the help of this competitive intelligence solution, the manufacturer wanted to formulate effective business strategies to stay one step ahead of the competition.

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Want more information about our competitive intelligence solutions?

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Our Journey

To analyze the strengths and weaknesses of the key manufacturers, the competitive intelligence experts at Infiniti carried out extensive research comprising interviews and discussions with prominent stakeholders in the machine tools manufacturing space. Additionally, the experts also compiled information from a wide array of reliable sources such as trade shows, paid industry databases, and company presentations in the manufacturing industry.

The Solution Benefits and the Business Impact

The competitive intelligence solution offered by Infiniti assisted the machine tools manufacturer in compiling data on the competitors in terms of their products and service features, pricing models, and marketing strategies. The engagement offered granular insights to the machine tools manufacturer to help them identify the unique selling propositions and competitive pricing. Infiniti’s solution also helped the client refine their existing business models to lower risk tremendously and convert threats into opportunities.

The Future

The machine tools manufacturing space will witness the growing demand for versatile and flexible products from the end-user segments such as the construction. With the rising preference for 3-D printing and automation, the industry players will have to streamline their production capabilities to improve accuracy of business processes and boost productivity.

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Smart Grid Technology Provider Relatively Stays Ahead of the Competitors with the Help of Competitive Intelligence Assessment

smart grid technology

LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest competitive intelligence assessment for a smart grid technology provider. There is an increased emphasis on the need to implement robust operational measures such as smart grid technologies to efficiently control the production, distribution, and conditioning of electricity. The rise of cloud platforms, increasing adoption of IoT, and the need to conserve energy are some of the main reasons that have given rise to this technology.

“An effective competitive intelligence solution helps smart grid technology providers to gather, analyze, and manage market information to make strategic business decisions. Furthermore, organizations can profile the competitors and enhance their competitiveness in the market. “says an expert at Infiniti Research.

 

Request  FREE  proposal today!

 

The solution offered helped the smart grid technology provider to identify the top competitors and continuously monitor their activities. The solution also helps the client to analyze the key performance indicators and efficiently analyze their marketing resources to meet the business requirements.

Additional Benefits of The Competitor Intelligence Solution

 

  • Formulate effective strategies to stay ahead of the competition.
  • Optimize business process and strategy by comparing with that of the competitors.
  • To know more, request a free proposal

 To know more about how our competitor intelligence solution helped the smart grid technology client

Ask an analyst


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