Tag: Competitor Analysis

competitive benchmarking

Infiniti’s Competitive Benchmarking Analysis Helped an Automotive Company to Enhance their Service Offerings in the Canadian Market

Business Challenge 

Companies in the automotive industry are facing a period of rapid competition and 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, understand competitors’ key strategies, and develop a competitive benchmarking strategy to achieve their business goals.

The client, a renowned automotive industry player was facing predicaments in profiling competitors’ and promoting their service offerings in the Canadian market. 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 your 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, 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 service and product offerings
  • Increase productivity while reducing cost
  • Prioritize the areas of improvement compared with their competitors
  • 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. Know at a glance how your brand stacks up against the competition. Request for a FREE proposal.

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, the 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, identify improvement opportunities, and create a competitive environment within the organizations.

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competitive landscape analysis

Realizing Savings of 23% in Eight Months with Infiniti’s Competitive Landscape Analysis

Competitive landscape analysis for a Financial Services Provider 

About the Client 

The client is a renowned financial services provider, offering financial services including wealth management and asset allocation to private corporations and individuals. The company was founded in 1976 and is based out of US.

Business Challenge 

The financial services industry is poised to experience unprecedented changes as it moves towards digitization.  The digitization of financial services facilitated by the widespread adoption of smart devices, cloud computing, and data accessibility and usability has steered the industry to the brink of disruption. As these challenges continue to escalate, financial services providers need to continually evaluate and improve their services to keep up with the fast pace of changes in the industry. Moreover, with the entry of new players in the industry, the domestic markets have become saturated. Financial services providers are, therefore, turning their attention to international markets to increase their market shares, revenues, and profits.

Business Case: With many financial service providers vying for a pole position in the US market, a major financial services provider approached Infiniti Research to uncover new market opportunities and analyze the competitive landscape in the international markets. The client wanted to evaluate the competitive landscape in Brazil, China, Russia, and South Africa, featuring leading player profiles and their main product offerings. Furthermore, our client sought to understand the market size and determine growth opportunities in each country.

Wondering why some big brands fail while attempting to expand internationally? Inadequate analysis of the competitive landscape could be one of the reasons.

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Top Challenges Faced by Financial Services Provider 

Problem Statement 1

With a number of competing financial services providers offering the same products and services, the client was facing difficulties in understanding the competitive landscape. With the aid of Infiniti’s competitive landscape analysis, the client wanted to gain deep insights into their competitors’ product offerings to evaluate their position in the market.

Problem Statement 2

As the financial services provider was looking to expand across Brazil, China, Russia, and South Africa regions, they wanted to understand the lifestyle and demands of the people in those regions to serve them better. Infiniti’s competitive landscape analysis would also help them to better understand the product offerings and pricing points of key competitors.

Problem Statement 3

In this customer-oriented business world, the client realized the need to differentiate their business from other major players in the market. With the aid of competitive landscape analysis, the client wanted to keep tabs on the competition and enhance business outcomes.

Problem Statement 4

By leveraging Infiniti’s expertise in competitive landscape analysis, the client wanted to gather sufficient data about the international markets and required suggestions from the experts to mitigate the barriers to entry in foreign markets.

Failure to track potential competitive threats can be a major threat to growing businesses.

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Solutions Offered and Value Delivered 

To help the client tackle the above-mentioned challenges, the experts at adopted a comprehensive 3 phase approach for competitive landscape analysis.

Phase 1

The initial phase of competitive landscape analysis revolved around gathering data on competitors’ service offerings and pricing strategies. Our experts also conducted an analysis of the leading international market players to get an initial sense of best-selling products as well as related drivers and market trends.

Phase 2

This phase of the competitive landscape analysis allowed us to create a long list of leading players and their service offerings. Once the list was defined, we continued with identifying the right business partners for the client and the best route to enter the target markets.

Phase 3

The competitor analysis framework developed by Infiniti helped the client to validate their initial perspective for international growth and helped them realize the real potential of select markets. The competitive landscape analysis further helped the client to prioritize the next steps in their international expansion, assign resources, and fine-tune their business strategy.

With Infiniti’s competitive landscape analysis, the client was able to better benchmark their market position relative to their competitors and develop strategies to maximize opportunities and mitigate threats. Infiniti’s competitive landscape analysis further helped the client to monitor the competitors’ USPs and adjust their strategy to attract new customers. In addition to improving the customer experience, the client was able to outperform our expectations with a 23% increase in revenue within eight months.

Want to find out what the competition is up to in international markets?

With Infiniti’s competitive landscape analysis, you can easily compare performance across all your important channels.  Request a FREE proposal to leverage our competitive landscape analysis!

 

What is a competitive landscape analysis?

Whether you’re running a start-up or a global company, it’s imperative to beat your competitors to better position your business. In order to do so, you’ll need a strategic business plan and insights about your competitors and the industry. This is where a competitive landscape analysis comes into play. A competitive landscape analysis helps businesses to gain insights into the current industry landscape and forecast the future plans of the competitors.

How competitive landscape analysis can help?

Focus on competitors – With the help of competitive landscape analysis, businesses can examine the market structure, measure market share, explore how their competitors operate, and build new strategies to differentiate themselves from their peers.

Benchmark performance – A competitive landscape analysis enables businesses to compare against top companies in the industry to develop business plans to enhance their market position.

Assess the future relevance of competitors – With competitive landscape analysis, assess which players are best positioned to outperform the market and identify the reasons for their success.

Infiniti’s competitive landscape analysis can help your company with unique industry challenges, predict changes, and reach annual targets. CONTACT US to know more about our services.

automotive industry

Competitor Analysis for an Automotive Industry Player – An Infiniti Research Success Story

Automotive Industry Competitor Analysis 

Business Challenge 

The past few years, the automotive industry has taken huge leaps in terms of technological innovations. Moreover, with new players increasingly entering the industry; new processes, customer channels, and product life cycles are expected to bring in the next wave of change in the automotive industry.

However, the recent automotive industry market research reports state that, the entry of new players has also brought about major disruptions in the market, making it difficult for existing players to expand into newer segments. Hence, for companies in the automotive industry, it is imperative to keep abreast with the industry trends and keep track of the competitors’ plan and actions.

Business Case: The rising number of automotive companies have drastically increased the level of competition in the market, making sustainability a key challenge for companies in the automotive industry. Hence, a renowned automotive industry player wanted to analyze and anticipate potential industry challenges to facilitate strategic decision making in terms of product positioning, launch, and marketing. Additionally, with Infiniti’s competitor analysis strategy, the client wanted to profile their competitors’ offerings and understand their product portfolio to devise market entry strategies and develop new products.

As economic conditions have improved, the companies in the automotive industry are focussing more on product innovation to capitalize on shifting consumer tastes. Is your business prepared?

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Top Challenges Faced by the Automotive Industry Client 

Problem Statement 1

With the recent technological advancements in the industry, the client faced increasing demand to adapt to the fast-evolving marketplace by efficiently catering to the needs of the growing population. Thus, the automotive industry client wanted to evaluate the potential bottlenecks in the automotive market and devise effective ways to enhance business efficiency.

Problem Statement 2

Their inability to understand the competitors and the new market trends proved to be costly, leading to a sharp decline in their profit margin. This prompted them to leverage a competitor analysis strategy to profile the major automotive players in the market and devise a business plan that meets customers’ expectation.

Problem Statement 3

The client wanted to refine their existing marketing models and devise effective marketing campaigns to enhance business performance.

Problem Statement 4

They wanted to keep abreast with the automotive industry trends and leverage the latest technologies to meet the new market requirements.

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Solutions Offered and Value Delivered 

The market intelligence experts at Infiniti Research carried out extensive automotive industry market research with leading stakeholders in the market space to assist the client in improving their business efficiency. The competitor analysis strategy followed these phases:

Phase 1: Gathering competitive information

The initial phase involved analyzing the automotive industry client’s main competitors. The competitors were categorized into different categories based on the level of competitiveness.

Phase 2: Analyzing competitive data

The second phase involved analyzing the competitors’ information. The factors including product information, market share, marketing strategies, and competitors’ strengths and weaknesses were taken into account during the analysis.

Phase 3: Determining competitive position in the marketplace

By analyzing the competitors, the experts at Infiniti Research helped the automotive industry client to determine their market position. This helped the client to implement a new marketing strategy to strengthen their market position.

automotive industryWith Infiniti’s solution, the industry client was able to analyze competitors in terms of market penetration and product developments. This helped them tailor their product offerings based on the customers’ requirement. The engagement further helped the automotive industry client to focus on issues such as the key risks and opportunities and identify lucrative markets to scale their product offerings. Altogether, our solutions helped the automotive industry client to identify and address the potential bottlenecks in terms of the compliance requirements and enter potential markets in an agile and seamless manner.

In an industry characterized by constant disruption, reducing costs while maximizing efficiency is key, and yet the demand for innovation cannot be ignored.

Request for a FREE proposal and stay up-to-date with all the automotive industry trends.

 

Automotive Industry Analysis

The automotive industry is witnessing promising growth in the US. The automotive industry trends and exciting technologies such as powertrain systems, mobile connectivity, advanced driver-assistance systems, maintenance monitoring, and several others are attracting more buyers in the automotive industry.  However, with the influx of new automotive industry trends, adjusting to changes is essential to withstand the growing competition. Also, automotive market players need to stay on top of new industry trends, technologies, suppliers, and regulations to stay a step ahead of the global competition.

Despite all these industry trends, the companies in the automotive industry are facing certain challenges:

  • Demographic changes and profound shifts in global economic power are causing massive upheavals in demand.
  • Consumer expectations are changing radically.
  • New technologies are dramatically changing vehicles, from the advent of the ‘connected car’ and enhanced driver support to better fuel efficiency and new or improved powertrains.

Furthermore, the automotive industry manufacturers and suppliers are confronted with increasing complexity as a result of increasing numbers of products and options, shorter technology cycles, increasing pressure to innovate, and global supply networks. So, automotive industry players need to balance the needs and demands of customers, investors, regulators, non-governmental organizations and the public to stay ahead of the curve.

Why Infiniti Research? 

Established in 2003, Infiniti Research is a leading market intelligence company with proven capabilities to deliver actionable granular insights across the globe. With the use of statistical, scientific methods and scientific experiments, Infiniti Research ensures intelligent business strategies.

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medical devices

Medical Devices Competitor Analysis: An Infiniti Research Success Story

Competitor Analysis for Medical Device Manufacturers 

About the Client 

The client is a leading player in the US medical device industry. The company is well-known for developing innovative medical devices and drugs.

The Business Challenge                                         

Medical devices manufacturing companies are set to witness growth opportunities in emerging markets. Moreover, as the new standards and regulations are emerging, and healthcare dynamics are evolving, the medical devices companies are facing an increasingly competitive scenario. This challenging environment compels medical devices companies to reduce costs, streamline their operations, and innovate more quickly. Thus, it has become extremely difficult for traditional medical device companies to compete with other firms in their areas of specialization, in terms of cost, quality and capability.

Companies in the medical device industry are exploring ways to stay competitive in the market by distinguishing market disruptions, analyzing competitive activity, and developing intelligent business strategies.

Business Case: The rising number of medical devices manufacturing companies have drastically increased the level of competition in the market, making sustainability a key challenge for companies. Thus, the client wanted to devise a competitor analysis framework to develop robust marketing strategies that would help them gain a competitive advantage over other market players. Additionally, the medical devices manufacturer wanted to profile major competitors in the industry and understand their current marketing initiatives to make the required changes in their business plan.

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Top Challenges Faced by the Medical Devices Manufacturer 

Problem Statement 1

With the recent technological advancements in the medical device industry, the client was facing difficulties to propel their business forward. Hence, the medical devices manufacturer wanted to assess the performance and capabilities of their peer groups to make better business decisions.

Problem Statement 2

The medical devices company faced increasing demand to adapt to a fast-evolving marketplace by efficiently catering to the needs of the growing population.

Problem Statement 3

Medical devices manufacturer faced significant challenges in identifying long-term savings opportunities and areas for cost reduction to facilitate product design and development.

Problem Statement 4

They needed to achieve comprehensive insights into their competitors’ strengths and weaknesses to develop effective plans to become market leaders in the US region.

Mastering these challenges are easier than you think with Infiniti’s customized competitor analysis solutions. Want to know how? Request for more info!

Solutions Offered and Value Delivered 

To address the client’ challenges, our competitive intelligence experts developed a competitor analysis framework to measure competitiveness in the global landscape.

Phase 1: Identifying competitors within the medical devices sector

The initial phase of the competitor analysis solution involved conducting extensive researches to gain an understanding of the key competitors of the client.

Phase 2: Categorizing competitors

The second phase involved categorizing the key competitors of the medical devices firm based on competition –Their competitors were categorized into direct, indirect, and substitute competitors.

Phase 3: Analyzing competitors’ strengths and weaknesses

The next phase included analyzing common marketing patterns and the competitors’ strengths and weaknesses. This helped the medical devices firm to differentiate themselves by offering products and services to fill gaps that their competitors have not addressed.

Phase 4: Devising a competitor analysis framework

By leveraging market information and data obtained from competitors, a competitor analysis framework was devised. This included the detailed company profiles, competitors list, their current activities and future industry developments.

With Infiniti’s competitor analysis, the medical devices firm was able to analyze competitors in terms of market penetration and product developments. This helped them gain a better picture of the current market space and build new business strategies. The medical devices company was also able to identify profitable markets and offer a differentiated set of products. Also, they dynamically fine-tuned their marketing efforts to gain a competitive advantage over their competitors.

Researching a new medical devices market segment? Our experts can help you understand the competitors' and market landscape. Request a FREE proposal!

 

Future of Medical Device Industry

The future of medical devices industry is largely influenced by technological advancements and opportunities that promise to revolutionize the operations of medical companies. The development of state-of-the-art medical devices and technologies has shown unparalleled growth and advancement in the healthcare industry. Furthermore, the emerging technologies in the industry space have revolutionized the way medical devices are formulated and manufactured to cater to the demands of the healthcare industry. Hence, companies in the medical devices industry are seeking to enhance product prototyping, minimize operation costs, and be responsive to product developments to stay competitive in the market.

Why Partner with Infiniti Research? 

With a team of highly skilled market research professionals, we offer customized solutions that will help medical devices companies to magnify their competitive advantage by improving their speed-to-market. Our solutions have been proven to deliver insight-driven outcomes at scale, to help businesses improve their business performance.

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product research

Competitive Pricing: Competitor Pricing Strategies and Customer Spending Behavior Assessment for a Retail Company

 

Competitive Pricing Strategy for a Retail Company

About the Client 

The client is a leading retail company, with a workforce of around 7500. The firm caters its customer’s requirements in 6 countries worldwide.

The Business Challenge 

With new technologies, intensifying competition, and increasingly sophisticated customers, competition in the retail market is on a constant rise. Moreover, as e-commerce has taken pricing to the next level, retailers need to take a few actions to make sure that they don’t get left behind. Hence, companies in the retail industry need to keep an eye on their competitors’ behavior while setting prices in order to get the much-needed competitive edge in the market. A competitive pricing strategy helps businesses attract more customers via optimizing prices. A successful pricing strategy can significantly increase sales, optimize cooperation with suppliers, and boost revenue.

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competitor analysis

How Does Competitor Analysis Framework Help Businesses?

Markets change – Businesses must keep a close watch on these changes and adapt accordingly.

Competitor analysis definition

Competition is an inevitable part of a business. As the number of entrants into the market are gradually skyrocketing, an effective competitor analysis framework has become a necessity for modern-day businesses. Competitor analysis is a critical part of the marketing plan using which companies can establish what makes their products or services unique when compared to the peers in the market. This can be achieved by placing competitors in strategic groups depending on how directly they compete for the market share.

How is competitor analysis done?

 Competitor analysis or competitor research is ideally carried out by listing out the products or service of each competitor or strategic group, their profitability, marketing objectives, growth pattern, organizational cost structure, and their current and past strategies. Some of the key questions to be answered by businesses here are:

  • Who are your key competitors?
  • What are the products and services that they deal in?
  • What is their market share?
  • What are the potential threats that they pose?

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competitor analysis

Top 4 Benefits of Competitor Analysis That Can Help Energy Sector Companies to Flourish

The US energy sector is facing unprecedented challenges like unpredictable government policies and regulations, growing competition, the aging workforce, modernizing grid infrastructure, and cyber-attacks. The target and policy measures agreed by the governments of many countries to reduce CHG emissions are exerting pressure to move away from fossil fuels consumption. This is resulting in an immense increase in the competition among the companies, especially in the US energy sector, and new research unveils that this competition is going to be even fierce in the years to come.

Increasing competition demands for more efficiency. It can become a roadblock for the entry of new players in the market. Additionally, it can also hinder the growth of a company if it is not able to analyze the competitors’ strategy. Therefore, the companies need to have a proper competitor analysis framework in place to gain actionable insights on current market position, end-consumers, and key competitors, and the credibility of their partners and associates.

At Infiniti Research, we understand the pain that companies in the energy sector face in the process of competitor analysis and competitor profiling.  So, to help companies identify and profile the competitors in the target market while evaluating their strategies to determine the strengths and weakness of the services rendered, our team of experts has listed four crucial benefits that competitor analysis offers in the energy sector.

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Benefits of Competitor Analysis for Companies in the Energy Sector

#1: Competitor analysis guide inaccurate forecasting of competitors’ move

Competitor analysis help companies to analyze and assess the next move of their competitors, which helps in better brand positioning. It helps companies in the energy sector to:

  • Find new markets to enter or increase the presence
  • Predict competitors’ actions
  • Improve product development
  • Beat competitors to market
  • Improve and personalize consumer interaction
  • Give consumers what they want and increase market share
  • Find new products and tech that will disrupt the competitive landscape
  • Identify political or legislative issues
  • Stand out from the crowd with a distinct corporate identity and tone of voice

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competitive benchmarking

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.


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