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Competitive assessment

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.

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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!

Competitive intelligence

Infiniti’s Competitive Intelligence Solution Helped a Food and Beverage Industry Client to Comprehend Competitors’ Business Strategy and Enhance Sales Rate by 40%

As the world is facing quick changes in lifestyle and food preferences, leading companies in the food and beverage industry are building new business strategies to keep up with the modern trends in the market. With this, companies that are ignoring the changing demands of the market are finding it really difficult to sustain their business. This has made it vital for companies in the food industry to examine the key competitors and their marketing strategies. Infiniti’s competitive intelligence solutions have helped various organizations to gather comprehensive insights into the key competitors and their product offerings to plan a robust business strategy.

Business Challenge 

The client, a food and beverage company in Central Europe was losing ground to a new market entrant in the region. This led to a decline in their sales rate, which subsequently affected their profit margin. To make up for the lost sales, the client realized the need to respond faster to their competitor’s initiatives. But to do so, they required a detailed understanding of their competitor’s strengths and vulnerabilities. This prompted them to collaborate with Infiniti Research to track their competitor’s actions and develop a robust competitive intelligence strategy.

Competitive intelligence solutions help businesses identify competitors’ key strategies and adjust their business plans accordingly. Request a FREE brochure to learn more about our competitive intelligence solutions.

Solutions Offered 

To help the client analyze the competitive structure and market environment, the experts at Infiniti Research carried out food and beverage market research and interacted with prominent stakeholders across the segment. This helped the client analyze comprehensive insights relating to the key competitors. Also, early warnings of the competitor’s campaigns helped the client to optimize their campaigns to outsmart the global competition. Moreover, with the help of our competitive intelligence solutions, the client successfully surpassed the global competition and increased their sales rate by 40%, capturing a top spot in the global food and beverage market.

Infiniti’s competitive intelligence analysis can help your company to keep track of your competitor’s strategies and thereby revamp your marketing strategies. Request a FREE proposal to know how.

What is Competitive Intelligence? 

Competitive intelligence is the process of monitoring competitors, understanding their market plans, and formulating better business strategies. Competitive intelligence process also helps firms to focus on their competitors’ key strategies by keeping track of their current activities and capabilities.

Benefits of Competitive Intelligence for Businesses 

Competitive intelligence solution aids in gathering and evaluating the information about a company’s peers. Competitive intelligence solutions can further assist companies to make better-informed decisions about their product positioning and marketing strategies. Furthermore, they help companies to evaluate the strengths and weaknesses of the competitors and identify signals of disruptions in the global market.

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