Tag: Competitor assessment

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Step-By-Step Guide to Successfully Conducting a Competitor Research

Considering the ever-increasing market competition, keeping tabs on the competitors is a crucial business activity for any modern business. Competitor research has become so important for most companies that some even hire external professionals to track competitors and assess the competitive landscape on a regular basis. However, developing a competitor research template need not always be complicated, time-consuming, and an expensive process, given the new wealth of data that can be assembled using the Internet. Here’s how your business can benefit from competitive research, how to develop a competitor research template and the most productive competitor research tools:Request Proposal

Step 1: Identify the source of research

The first step in developing a competitor research template is to determine whether to gather information in-house or hire a professional firm or consultant. One of the key benefits of hiring a consultant includes that they may have more expertise in gathering information and other intelligence data when compared an in-house research team. However, this does not mean that you completely rule out the advantages of having an in-house competitor research team. They would be able to understand the business better and easily establish the competitive factors they want to track. Businesses must undertake a pros and cons evaluation of both the methods and choose the one that is best suited for their business.

Step 2: Create a framework

Creating a framework is an essential step in gathering the required data for competitive research. It is important to carry out a SWOT analysis of the company and includes the key brand differentiators (What are the messaging, product/service offerings that set the business apart from their competition?). It also includes defining the company’s mission and vision. All these factors help to identify the goals of the company and how they want to differentiate themselves from other players in the market.Get More Info

Step 3: Select targets

It might prove helpful for companies to think of your competition in terms of options that their customers have i.e. where else can customers go to purchase the products and services that they are offering. That can include identifying the direct competitors (those who sell the same thing as you do) and indirect competitors (those who sell other products and services that serve the same purpose).

Step 4: Understand competitor tactics

Apart from using competitor research tools to identify what competitors say about themselves, it is equally important to know if and how they deliver on those promises. However, this data could prove to be a little challenging to uncover. Apart from undertaking secondary research, one of the ideal ways to do this is to ask the customers. This is one of the best ways to identify the alternative your target customers would choose and why they would do so.

Step 5: Gather and update information

Once a comprehensive overview of the competitive landscape is created, companies must constantly update the data collected. This includes identifying new products, services and/or pricing in the market, new geographies for operation, and new advertising or other outbound communications strategies.


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Coal Mining Client Leverages Competitor Analysis to Make Better Product Positioning Decisions

Infiniti PR Infographic Coal Mining - Competitor AnalysisLONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest competitor analysis solution for a coal mining client. The rising usage of coal in electricity generation is the key contributor to the economic growth of countries across the globe. Coal is one of the leading sources of energy which can reduce energy poverty and achieve substantial economic growth.

“Competitive analysis helped the client in the coal mining industry to anticipate competitive activity and identify market disruptions and interpret events. The engagement also helped the client to launch new products and make better decisions about their product positioning strategy. “ says an expert at Infiniti Research.

 

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The client in the coal mining industry was also able to accurately develop a SWOT analysis and even understand the competitor’s product portfolio and selling points to market their own ideas. This engagement also offered insights on the strategies to enhance their sales performance in the future.

Additional Benefits of The Competitor Analysis Solution

  • Offer insights on the strategies to enhance sales performance
  • Assist with the launch of the products and make better decisions about product positioning strategy
  • To know more, request a free proposal

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Top Fintech Companies Transforming the Financial Landscape Using Technology

Fintech, or financial technology, marks the emergence of the modern world financial sector. Fintech companies are disrupting the traditional banking and financial market setup with new technologies such as artificial intelligence, machine learning, peer-to-peer lending, predictive analytics, and data-driven marketing. The world of banking and finance has evolved from simple debit and credit of transactions with a foray of innovations including retail banking, online banking, investment, and crypto-currencies. The term financial technology applies to any innovation in terms of how people transact with a business. To put the significance of the fintech industry into perspective, the startups in this sector received $17.4 billion in funding in the year 2016. So who are the players driving the growth of thisRequest Free Proposal multi-billion dollar market?

Ant Financial

Ant Financial is an affiliate of the Chinese Alibaba Group and is the most valuable fintech company in the world. Formerly operating under the name of Alipay, it is the world’s leading third-party payment platform and also runs Ant Financial Cloud and other financial services. The company recently surpassed the $100 billion valuations and also announced that it would launch a digital wallet service in Hong Kong with the help of a joint venture with Sir Li Ka-Shing’s CK Hutchison Holdings. The company focuses its efforts on green finance by promoting low-carbon lifestyle through digital financial instruments.

Adyen

Adyen is a global payment company founded in 2006 that allows businesses to accept mobile, e-commerce, and point-of-sale payments. Headquartered in Amsterdam, Netherlands, the company serves more than 4,500 firms including an impressive roster of customers, including, Spotify, L’Oréal, Facebook, Uber, Netflix, Burberry, Symantec, and Microsoft. The company almost doubled their revenue in the year 2016 and earned more than $700 million by connecting payment platforms across the world. In April 2017, the company was granted a European banking license, giving it the status of an acquiring bank.

Qudian

Qudian is a Chinese Fintech company that operates as a student micro-loan site, which is an installment payment and investment management platform. The company saw an opportunity in the local markets where credit card purchases were not so popular. Qudian offered a payback of purchases in installment; thereby, driving the overall spending in the Chinese market. Being one of the top fintech companies, it has partnered with several e-commerce, financial services, and digital services providers in a bid to attract customers. According to rumors going around, the company is soon likely to go public by raising as much as $1 billion.

Xero

Xero is a New Zealand-based software company and also the fastest growing SaaS company. The company develops cloud-based accounting software for small and medium-sized businesses. The company has offices in New Zealand, Australia, the US, the UK, and Singapore, which serves more than 1 million subscribers. Their products such as full accrual accounting system with a cashbook, debtors, creditors, automated daily bank feeds, invoicing, sales tax and reporting are used in over 180 different countries.

SoFi

SoFi or Social Finance is an online personal finance company that offers student loan refinancing, mortgages and personal loans. The fintech company was founded by four Stanford graduate who sought to provide a more affordable option for people seeking to find their education using debt. SoFi initially utilized an alumni-funded lending model, which connected alumni and institutional investors with students and recent graduates through school-specific student loan funds. The company has since widened its portfolio to offer personal loans, student loan refinancing, mortgage loans, wealth management and life insurance. The fintech company is now a multi-billion-dollar company with over $19 billion in loans funded to more than 300,000 members.

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Competitor Analysis Helps a Leading Automotive Components Manufacturer Assess Key Competitors and Devise Effective Marketing Strategies

The automotive components sector accounts for a significant share of the total production capacity in the global manufacturing industry. The global automotive components industry is a highly diversified sector that involves engine and auto component manufacturers, including aftermarket parts manufacturers, dealers, suppliers, and retailers. The production of automotive components is gradually moving toward Asian countries, such as India and China, due to the higher market potential and the low-cost of manufacturing. Additionally, the growing importaRequest Proposalnce of electronics and functional integration of green components and sustainable products is expected to drive the growth of this sector.

Although the industry is expected to showcase promising growth, several factors may hamper the growth of the automotive components space. These factors include:

  • Increased competition: Despite the longer-term slowdown projected for mature markets, competition is growing increasingly intense, with more OEMs and many more automotive components being offered than ever before.
  • Globalization and consolidation of platforms: Leading automotive components manufacturers are rethinking their platform strategies in response to the pressures generated by intensifying competition, new global consumers, and state regulators.

As a result of these factors, leading automotive components manufacturers have started leveraging the use of competitor analysis studies. Competitor analysis studies help companies identify and profile competitors while evaluating their core strategies to determine the strengths and weaknesses of the services rendered. These studies also assist companies in gaining a deeper understanding of the list of services, marketing objectives, profitability, and the growth potential within the automotive components sector.  

The Business Challenge

  • The client: A leading automotive components manufacturer
  • Area of engagement: Competitor analysis

The client, a leading manufacturer of the automotive components with business operations spread across the globe, wanted to gain an in-depth understanding of the competitors, their services, and efficiently analyze their current and future market share within the industry space. The client also wanted to carry out a robust SWOT analysis to identify the possible opportunities and threats in the industry space. Moreover, with the help competitor analysis, they wanted to analyze the competitors’ market share, their current and past strategies, and the extent of services provided to their customers.

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The Journey

The competitor analysis experts at Infiniti carried out extensive interviews and discussions with prominent stakeholders in the automotive components industry to assess the strengths and weaknesses of the competitors. The experts also gathered information from a wide array of secondary sources such as company presentations, paid industry databases, and industry forums.

The Solution Benefit and the Business Impact

With the help of this competitor analysis engagement, the client was able to increase their focus on assessing the competitors and understanding the five forces model in terms of the threat of potential entrants, the initiation of new services, buyers, suppliers, and the organization’s strengths and weaknesses. The competitor analysis experts also offered the client a robust go-to-market strategy, which helped them gain relevant insights into the customer base, their preferences to meet changing demands, and achieve organizational growth.

The Future

To increase sales, it is predicted that the automotive industry will have to execute new strategies in its manufacturing process, as well as the contribution it is trying to make to a country’s economy. Additionally, it is expected that the automotive industry will start manufacturing products that fulfill the customers’ needs for safety and comfort and specialize in niche components that are demanded by different segments. Furthermore, it is stated that components that provide the maximum comfort and sustainability are more likely to have a more significant margin of sales and profits compared to standardized parts.


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

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Competitor Analysis Helps a Leading Energy Sector Client Assess Key Competitors and Devise Effective Strategies to Establish Themselves Across the Globe

According to a recent survey, it is estimated that more than 1 billion people across the do not have access to power and more than 3 billion people use fuel sources like wood and charcoal for cooking and heating purposes.

Lately, the energy sector has started witnessing rapid transformations in the way it functions due to the growing environmental concerns and technological improvements. The energy sector is moving toward a lower carbon future to meet the regulatory compliance requirements. The energy sector is also influenced by the increase in population, economic growth, and energy efficiency improvements at fundamental levels.

However, several factors are influencing the growth of the global energy sector. These factors include:

  • Increasing competition: With the entry of prominent global players, the global energy sector has witnessed an increase in the level of competition with new entrants attempting to gain a significant chunk of the market. Moreover, the shift from a monopolistic environment to a more competitive environment is creating opportunities for new market entrants across the energy sector.
  • Increasing customer expectations: With the customer expectations increasing, leading companies are facing the need to switch suppliers frequently to meet the needs and requirements of the customers. Additionally, companies within the energy sector are facing relentless pressures to maintain an affordable, secure, and reliable supply to the customers owing to its increasing demand.

As a result of these factors, firms within the energy sector have started leveraging the use of competitor analysis solutions. The competitor analysis solutions help companies identify and profile the competitors while evaluating IR_Brochuretheir strategies to determine the strengths and weakness of the services rendered. These solutions also assist organizations to comprehend the list of marketing objectives and services, profitability, and the growth pattern.

The Business Challenge

  • The client: A leading company in the energy sector
  • Area of engagement: Competitor analysis

The client, a prominent energy sector firm, wanted to understand the competitors, their service offerings, and efficiently analyze their current and future market share. The client also wanted to carry out a robust SWOT analysis to identify the possible opportunities and threats across the energy sector. With the help of competitor analysis, the wanted to gain a better understanding of the competitor’s market share, their past and current strategies, and the method of distribution and extent of customer service for the services rendered.

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The Journey

The competitor analysis experts at Infiniti carried out extensive interviews and discussions with prominent stakeholders across the energy sector to evaluate the strengths and weaknesses of the competitors. The experts also amassed information from a wide array of secondary sources such as company presentations, paid industry databases, and industry forums.

The Solution Benefits and the Business Impact

With the help of this competitor analysis engagement, the energy sector client was able to tap into the potential opportunities and determine how the competitors are working. The competitor analysis engagement also helped the client gain actionable insights into the customer base and their preferences to meet their demands. Moreover, the client gained a better understanding of the five forces model in terms of the advent of new services, the threat of potential entrants, suppliers, buyers, and the organization’s strengths and weaknesses.

The Future

Today, companies across the energy sector are moving from a one-size-fits-all approach to a more personalized and tailored approach to meet the needs and desires of the customers better. Moreover, with the recent shift towards renewable sources of energy, leading establishments within the industry are revamping their existing architectures to transform their business models.


A must-read case study for strategy specialists and decision makers looking to develop an understanding of the energy sector

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Market Intelligence Engagement Enables a US Retail Chain to Build a Better Distribution Strategy

Currently, with significant advances in technology, the retail landscape has become more mobile and agile with multiple players offering a differentiated set of products. Businesses in the retail landscape are devising effective strategies to enhance their product portfolio and retain their foothold in the market. Also, numerous businesses in the retail landscape are planning to increase their market presence to make better returns on investment. To enter new markets and benchmark their strength with the competitors, organizations are opting for market intelligence engagements. Market intelligence solutions provide information about the external market environment such as market size calculations, competitor analysis, substitute product analysis, and market growth predictions.

Infiniti’s market intelligence solution helps the client gain a foothold in the market and increase its market presence. Also, the engagement helps the client stay ahead of the competition by identifying their capabilities, liabilities, and long-term intentions. Also, our market intelligence solution helps the client minimize the risk of an investment and establish and maintain a distinctive corporate identity. With the help of our solutions, businesses can tailor products and marketing efforts based on the robust needs of consumers.

The Business ChallengeIR_Brochure

A global conglomerate in retail was facing challenges understanding key competitors prevailing in the market. The primary objective of the engagement was to understand the top competitors among the countries in Europe. The client also wanted to analyze the regional strategy following an M&A.

Our Research Methodology

To address the client’s specific business requirements, Infiniti’s market intelligence experts carried out a blended approach comprising of interviews and discussions with leading stakeholders in the market. Also, the market experts carried out an in-depth analysis of the competitors in terms of their organizational structure and regional reporting lines, the level of investment in current expansion, key personnel by country and region, and the target markets. Moreover, the market intelligence experts carried out secondary intelligence gathering, telephone-based primary intelligence gathering, competitor analysis, and SWOT analysis.

Financial services

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Our Solution Helped the Client

  • Identify key countries in Europe where the competitors posed a high-level threat
  • Analyze the distribution strategy by country
  • Identify the product focus by geographies
  • Assess competitors’ future strategy and key areas of future threat to client
  • Analyze competitors’ decision making across the countries among the target regions

Benefits of Our Integrated Approach

In a span of six weeks, the client was able to gain a holistic view of the retail landscape in terms of the competitor strategy and regional operations. The engagement also helped the client identify the key areas and countries for future expansion.

A must-read market intelligence case study for strategy experts and decision makers looking to assess the market landscape for the retail sector.

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Competitive Intelligence Engagement Helps an Automotive Manufacturer Benchmark their Product Portfolio

In today’s fast-paced environment, organizations grow at an enormous rate within the blink of an eye. To analyze the foothold of the company in the market, it becomes indispensable to know the competitors that are showing a remarkable presence in the market. To better understand the leading competitors and their offerings, organizations are relying on competitive intelligence studies. Competitive intelligence helps organizations to analyze the competitive landscape in terms of their product positioning and marketing strategy. It assists businesses in anticipating the potential challenges and face any obstacles hindering their goal. Moreover, competitive intelligence helps businesses gauge the marketplace and identify areas to compete against their counterparts.

Infiniti’s competitive intelligence engagement assists the client to analyze information in predicting competitive activity and future business operations. The engagement also helps the client devise effective marketing strategies and present valuable insights into the market landscape. With the help of such studies, the client can better prepare for the launch of new products, enter a new market, and make sound business decisions.

The Business ChallengeIR_Brochure

A global automotive manufacturer was facing challenges identifying the potential competitors and increasing their shares in the market. The primary objective of the client was to profile the key competitors and their product portfolio across the target regions. The client also wanted to understand the robust challenges that impede their overall growth in the market.

Our Research Methodology

To gain better insights into the competitive landscape, Infiniti’s industry experts conducted a blended approach comprising of telephone-based interviews and discussions, competitor analysis, and SWOT analysis. As a part of the secondary research, our experts also collated information from a wide array of proprietary sources such as company publications, industry forums, and magazines.

Automotive manufacturer

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Our Solution Helped the Client

  • Identify the key countries and verticals posing high level of competition
  • Assess the future acquisition targets
  • Devise robust strategies to increase their market expansion and make informed decisions
  • Identify the key personnel influencing competitor strategy
  • Analyze the level of investment estimated for the current expansion

Benefits of Our Integrated Approach

In a very short period, Infiniti’s competitive intelligence assessment helped the client gain a comprehensive overview of the market, products and stakeholders. In addition, the client also gained actionable insights into product attribute analysis, product forecast, and pricing for key competitors in the automotive manufacturing market.

A must-read competitive intelligence case study for strategy experts and decision makers looking to assess the market landscape for the automotive industry.

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Market Assessment Study – Analyzing the Medical Device Landscape for A Leading Manufacturer

The recent market assessment study by Infiniti Research on cardiac rhythm monitoring and management devices provides actionable insights on the medical device landscape and how to increase market shares by leveraging competitor analysis and pricing analytics.

Medical device manufacturing industry – overview

The medical device manufacturers, across the globe, are witnessing growth opportunities owing to the rising importance and usage of medical devices and surgical equipment in the modern healthcare market. Medical device manufacturers have shifted their focus from transaction based selling to creation of value for providers, payers, and patients. The medical device manufacturing companies are also producing cost effective, innovative and high-quality medical devices and surgical equipment to increase their market shares. According to recent studies, the adoption of cardiac rhythm monitoring and management devices is set to grow with the increasing aging population, rising health concerns, prevalence of cardiac diseases, escalating medical costs, and increasing preference for home care treatments. Additionally, government and regulatory authority are also focusing on improving the healthcare infrastructure; thereby, resulting in the increasing demand for medical tools, imaging devices, patient monitoring equipment, and systems. As a result, it is imperative for medical device manufacturers to identify and analyze the market challenges and drivers to gain a competitive edge over the market players in the region. Infiniti’s expert analysts offer actionable insights into the market and competitive landscape of medical device manufacturing.

In spite of the growth in the industry, the medical device manufacturers face challenges such as lack of skilled workforce, expert healthcare professionals in electrocardiography, and inadequate reimbursement options for remote cardiac monitoring devices, among other surgical equipment and medical tools. Medical device manufacturers often lack the market understanding in terms of sales, revenue, competitor presence and pricing strategy, and market share.

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Solutions and recommendations

The market intelligence team at Infiniti Research offers various solutions to understand the current scenario of the medical device manufacturing industry and future growth opportunities. Some of the solutions offered include:

  • Evaluating the total sales, market share, and assess key purchase drivers for GPOs
  • Identifying the key decision makers for purchasing medical devices
  • Estimating the average selling price by value chain for medical devices
  • Developing a holistic view of the medical device market in terms of product category and segments

Read our comprehensive case study on how we helped a market assessment study on cardiac rhythm monitoring and management devices.

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