With the advent of new technologies, the manufacturing industry has undergone a robust transformation. The market for industrial equipment manufacturing is witnessing an unprecedented demand from emerging and niche market segments. Moreover, with the robust shift toward a consumer-centric environment, players in the manufacturing space have started relying heavily on market intelligence studies. Market intelligence helps industrial equipment manufacturers to understand customers and gain insights on their preferences. Also, businesses can gain insights on the regulations, technologies, competitors, supply chains, and customers prevailing in the industrial equipment manufacturing space. Through a robust market intelligence study, industries can further examine and analyze the opportunities and effectively implement strategic business decisions. In addition, market intelligence relies on customer buying behavior in order to promote the marketing, sales, pricing, and competitor activity.
Infiniti’s market intelligence study assists the client to develop detailed customer segmentation based on customer value and identify the potential customer segments. In addition, market intelligence solutions also help the client predict the sales and marketing strategies to improve business performance. Also, Infiniti’s market intelligence experts assist the client to identify the competitors and create essential sales and marketing strategies to retain the customers.
The Business Challenge
Our client, a leading industrial equipment manufacturer with little knowledge of expansion, wanted to assess different market segments and improve customer retention. The client needed a robust understanding of the size of the market and the competitors in the industrial equipment manufacturer space. The primary objective of the engagement was to understand the customers, their preferences, and improve customer retention. The client also wanted to identify the niche market segments and enhance their offerings in the industrial equipment manufacturing space.
Our Approach
With a combination of secondary and primary research comprising of interviews with distributors, manufacturers, and competitors in the industrial equipment manufacturing space, Infiniti’s market intelligence experts delivered a detailed understanding of the market. Infiniti’s market intelligence experts were also able to size and segment the market in terms of the competitors, distribution channel, and industry. Also, our experts collated data to identify the growth drivers and key market trends.
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Market Intelligence Solutions benefits:
- Develop customer segmentation based on customer value, customer buying behavior, competitive activity
- Develop robust sales and marketing strategies to enhance business performance
- Understand the customers and effectively retain customers
- Produce optimum predictive upsell and devise effective retention strategies that maximize sales, value, and sales resource
- Implement state-of-the-art machine learning to identify the key strategies that will unlock potential market opportunities
Benefits of Our Integrated Approach
Infiniti’s investigation helped the client identify the competitors and devise effective customer retention strategies. The client was further able to create a roadmap to approach potential markets and plan its operation across various markets. The client was further able to target niche markets and position their products effectively.
