Tag: Market intelligence challenges

Market intelligence solutions

An Overview of Infiniti’s Market Intelligence Services Portfolio

Formulating a sound business strategy is central to the success of any organization and market intelligence solutions play a key role in helping businesses achieve this. Successful market intelligence services provide concrete answers to questions about current and potential customers and competitors, and helps a company determine internal goals. Market intelligence solutions involve the use of information derived through the effective collection of data, which is then used to analyze behavior and sentiments to conclude with information pertaining to markets, customers, and competitors.

Positioned at the forefront of market intelligence, Infiniti Research has carved out a niche for itself as the premier provider of market intelligence solutions for leading players across industries. Our unmatched market intelligence solutions, consulting, and in-depth market assessments are well-known among industry leaders for their ability to solve the toughest challenges faced by industry players. Here is an overview of Infiniti’s market intelligence solutions portfolio with detailed insights into how each of these services can help your business expand, diversify, and tackle market competition.

Market opportunity assessment

Market opportunity assessment is a part of Infiniti’s market intelligence solutions portfolio. It helps businesses identify opportunities and risks that they are likely to come across in a particular market. This ensures that companies understand and evaluate the market before building and establishing their business there. Infiniti’s market opportunity assessment can help you review potential barriers to market entry, analyze distribution channels, conduct Porter’s five forces analysis, and assess markets’ readiness for new offerings.

Infiniti’s market opportunity assessment helps a leading European medical imaging firm to enter the APAC market

Business challenge

A renowned European medical imaging firm wanted to gain a better understanding of important metrics such as the current market performance, the potential opportunities, and technologies in the medical imaging market of the APAC region. They also wanted to understand niche market segments to gain better insights into the level of competition.

Solution

Infiniti’s team of experts decided to carry out a blended approach comprising interviews and discussions with leading stakeholders in the medical imaging market. They also crafted a market opportunity dashboard containing relevant pieces of information to deliver valuable insights to the client.

Result

By gaining insights into critical data relating to potential opportunities in the medical imaging market, the client was able to enhance their product offerings in the APAC region. The medical imaging client was also able to quickly identify and benchmark their product portfolios in the APAC region. The engagement assisted the organization to harness the value of their data to find new niche market segments, operate more effectively, and minimize risks.

Market entry research

Infiniti’s market entry research solution has helped several clients to de-risk their market entry decisions and shape their entry strategies in markets around the globe. Experts at Infiniti review micro and macro-economic environments, identify potential barriers to market entry, compare competitor offerings with available alternatives and help clients build robust route-to-market strategies.

Market entry research for a leading life science industry player helps successfully establish their business in international markets

Business challenge

A leading life sciences industry player operating in India wanted to devise an effective strategy to enter various international markets. Although this opened up new opportunities, the client was not able to prioritize and gauge the risk in every new market. Hence, the client approached Infiniti Research to leverage effective market intelligence solutions and overcome the challenges.

Solution

In order to help the life sciences industry client venture into international markets, the experts at Infiniti conducted a detailed market survey to identify potential factors affecting growth in the life sciences industry. The market entry research conducted also included a systematic and comprehensive approach to analyzing the factors that affect the market potential of the business in overseas markets.

Result

The market entry research solution enabled the life sciences company to identify the potential beachhead segment to focus and leverage market entry efforts. They were also able to select the appropriate business model to maximize profitability.

Market scanning and monitoring

Market scanning and monitoring involve continually and actively monitoring the external environment in order to identify customer needs, anticipate competitive actions, and, identify technological changes that will provide new market opportunities or help create new market disruptions. Infiniti’s market scanning & monitoring solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, regional market developments, and provide insights on the potential impact of changing factors on business segments.

Identifying lucrative market opportunities for a European automaker

Business challenge

A well-known European automotive company wanted to expand its business operations into the United States. Before making the market expansion, the client wanted to conduct a market opportunity analysis in order to identify opportunities in the market that are most profitable for them to capitalize on.

Solution

With over 15 years of experience in serving various automakers across the globe, experts at Infiniti helped the client to devise an efficient market expansion plan. A market scanning and monitoring solution was provided to the client which helped them identify customer needs, forecast competitive action, and identify the emerging regulations in the US automotive market. The engagement also involved a market trend analysis and a competitive intelligence study that helped the client closely monitor the key trends and competitor strategies in the US automotive industry.

Result

The solution offered helped the client to establish themselves in the US automotive industry within two years of entering the market. Also, they were able to capitalize on new market opportunities and outpace the market competition. Furthermore, the company was able to achieve savings of over $3.6 billion.

market intelligence services

A Quick Guide to Everything You Need to Know About Market Intelligence Services

As the market is becoming increasingly competitive, it has become imperative for businesses to keep a constant watch on their competitor strategies and other changing trends in the market. Traditionally, this process was termed as market intelligence. However, today the scope of market intelligence has proliferated to include comprehensive analysis and analytics that can help revamp business models and projections to suit current business requirements.

In this blog, market intelligence experts answer some of the frequently asked questions about market intelligence services.

What is market intelligence?

Market intelligence services involve process of using multiple sources of information to gain a broader picture of a company’s existing market including their customer profiles, business challenges, the growth potential for a new product/service launch, and the key competitor strategies. By leveraging market intelligence services, companies can not only understand and meet their customer needs better than their competitors, but it also helps companies determine their internal goals.

While top-level industry information is easily available on the web and other external sources, gathering data relating to business niche and locality can be difficult. This is where the expertise of market intelligence experts at Infiniti comes into play. Request a free brochure to know how our solutions can help your business.

Market intelligence services vs market research: what’s the difference?

Although the market intelligence services and market research are used interchangeably, there is a fundamental difference between the two. While market research solutions describe what is occurring as it occurs so that companies can react tactically, market intelligence services provide situational insights and interpretations so that companies can strategize on their next move. Strategic market intelligence services provide information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making. It is also highly useful in determining strategy in areas including market opportunity, market penetration strategy, and market development. Market research involves research relating to the size, location, and other essential elements of a product market.

What are the most effective ways to gather market intelligence?

Companies across industries are engaging in strategies to effectively outdo one another. Market intelligence services play a crucial role in keeping an enterprise on the top. Without adequate market intelligence, decision makers will be incapable of better decision-making or altering existing business strategies. Here are some of the best ways in which companies can gather market intelligence:

Information from the sales teams

The sales teams interact maximum with the customers. As such, they can give accurate and up-to-date information relating to customer needs and what improvements need to be made to the company’s products or services. This feedback is more realistic and practical than undertaking external research.

The key to success for any type of business lies in the ability of the enterprise to make informed business decisions. This can be achieved with the help of a good market intelligence services provider. Request a free proposal to know how our experts can help you generate better profits.

Feedback from channel partners

In the case of product expansion or the sale of a new product, the best source of market intelligence is to gather feedback from the company’s channel partners.  Channel partners can reveal data relating to which products will sell better in the market, which products can be ready to stock, and which product should the enterprise focus on next. Market intelligence services can help in suggesting improvements in the company’s current marketing strategies.

Competitors’ channel partners

Reliable market intelligence services provide data relating to competitor strategies. Companies can gather this data by interacting with the sales representatives or channel partners of competitors in the industry. Market intelligence services providers like Infiniti Research can help your company become better equipped to make decisions based on data and then implement winning strategies.

Use social media

Social media monitoring can be used to understand what customers think of a product and whether their expectations are being met or not. Brand monitoring on social media platforms will also help companies understand what customers are talking about the company.

Learn how Infiniti’s solutions for market intelligence services can help you drive better business growth.

Market Intelligence

Infiniti’s Market Intelligence Solution Helped a Fashion Retailer Understand the Reason Behind Their Dipping Sales Rate and Meet the Changing Market Demands

Business Challenge

Even though the fashion retail industry has fared well over the past few years, market growth has been volatile at times. Growing consumerism, inventory management, sustainability, millennial buying behavior, and entry of new players have increased challenges for fashion retailers. This has pressurized companies in the fashion retail industry to leverage a market intelligence study to drive change and flourish in the fast-changing and unpredictable industry.

The client, a well-known European fashion retail industry player was facing a decline in their overall sales rate along with a dip in the frequency of shoppers. Hence, they decided to conduct a market intelligence study to understand the dynamism in the European fashion retail industry. With Infiniti’s market intelligence solution, the client wanted to gauge customer behavior and understand the extent to which internal and external, controllable factors were playing a part in their dipping sales rate.

Our solutions help businesses keep tabs on target market segments, forecast demand-supply shifts, track emerging market trends, and provide insights on the potential impact of changing factors on business segments. Request a FREE brochure to learn more about our market intelligence solutions.

Solutions Offered and Value Delivered 

By leveraging Infiniti’s solution, the client gained in-depth insights into the European retail industry. The market intelligence study helped the client uncover the reason behind their dipping sales rate. Based on the recommendations offered by our market intelligence experts, the retail industry client was able to prioritize their efforts on factors that would bring the greatest impact to their business results.

The solutions also empowered the client to adequately allocate resources to meet the changing market requirements. Moreover, our solutions also offered information on the market size, market analysis, competitor analysis, and growth predictions.

In a span of 4 months, the client was able to curtail the losses incurred and enhance their profit margin by 22%.

Make smarter business decisions with Infiniti’s market intelligence solutions. Request for a FREE proposal to know how our market intelligence solution can help.

What is Market Intelligence?

‍Market intelligence is the foundation of any company’s business plan, used for discovering insights about consumers and generating prospective sales. Market intelligence provides detailed insights into competitors, latest market trends, consumer buying patterns, economic shifts, and demographics. Thus, smart business owners leverage intelligence  solutions to create effective marketing strategies.

Why Infiniti’s Market Intelligence Solution?

In today’s competitive market, sustaining market position and achieving business growth has become challenging. The inability of an organization to react to the dynamic market increases business risk. Hence, keeping track of market changes is very crucial to thrive in the marketplace. Infiniti’s solutions offer a comprehensive overview of the current market, including competitor strategies, market challenges, market trends, and much more. Our solutions enable organizations to gain a holistic view of the entire market. This insight further helps businesses to customize their products and services and distinguish their brand from their competitors.

With a market intelligence solution, you can gain an in-depth understanding of the market scenario before making any investment decisions. Get in touch today for a personalized market intelligence solution for your business.

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Market Segmentation: A Key to Success for Pharmaceutical Companies

The idea of dividing a market up into homogeneous segments and targeting each of them with a distinct product or message, is now at the heart of marketing theory.

Rising costs and demands for affordable health care continue to challenge the traditional business assumptions and economics of the pharmaceutical industry. Also, this is raising internal development risks, costs, and time requirements for clinical trials. To add to the complexity, pharma markets have become fragmented as providers, patients, physicians, and payers look for focused solutions that have optimal safety and efficacy profits for a narrower population of patients. Additionally, the role of greater transparency, reference pricing, and changes in decision-making are essentially shifting decision-making authority away from individual physicians to healthcare administrators and payers. These dynamics result in the complexity of product decision-making and continue to challenge the effectiveness of traditional commercial models in the pharmaceutical industry.

This is where the role of market segmentation comes into play. Market segmentation process enables pharmaceutical companies to move beyond product features and benefits or brand position to see specific needs through the eyes of specific market segments and this is an essential component of success for pharmaceutical companies.

At Infiniti Research, we understand the impact that target market segmentation strategies can have on your business. And to help companies expand, diversify, and tackle market competition, our team of experts have highlighted a step by step guide to market segmentation to help pharma industry players become market leaders.

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IR28

Top Drone Applications – Where can they be of Importance?

Until recently, drones were seen as expensive gadgets within the reach of a few individuals, with no specific purpose. However, after changes in regulations and drop in prices, drones have come up as an economically viable option in commercial applications. Drones have been particularly useful in industries, where the working condition is hostile to humans. This is because drones can be remotely navigated to reach nooks and corners and explore dangerous working conditions. With the technological advancements offered by the drone technology, companies have benefitted by increasing their ROI. Drone application isn’t only limited to drone videography but also delivery,Request Proposal environmental assessment, and automation. Here are some of the top drone applications gaining traction in the market today:

Agricultural use

Farmers often need information about large tracts of land. Recent drone applications can help them track water usage, heat signatures, water use, and soil analysis. Aerial surveillance was an expensive affair in the past as it required planes to do the analysis, but modern-day drones significantly cut-down the cost. By using drone as a service, farmers have been able to boost their ROI and it comes as no surprise that the market is expected to reach the billion mark soon in a few years. Many start-ups are jumping into the scene with companies such as Jhon Deere partnering with Sentera to provide access to agricultural software.

Infrastructure development and maintenance

Inspecting infrastructure can be costly, and can cost companies thousands of dollars for manpower and transportation-related activities, such as boats and helicopters. However, drones can emerge as a cheaper, faster, and safer alternative to such options. A typical drone may cost only a few hundred dollars to employ; thereby, saving companies thousands of dollars. Today, telecom companies like AT&T are using drones to inspect cell towers so that people don’t have to risk their lives by climbing such high cell towers. Additionally, one of the key drone applications is their use in the energy industry to inspect solar farms, wind turbines, oil platforms, bridges, and dams.

Infrastructure uses

Apart from its use in infrastructure inspection, it can also be used to replace it. It all started out in 2017 when AT&T tested their small replacement cell tower, which can be deployed during big events or disaster scenes to spread the load. Many companies are working on drones as a replacement for the current infrastructure.  A solar-powered drone can stay in the air for months and disseminate internet to remote locations. Facebook and Google are notable names amongst the companies who are planning to use drones as an infrastructure.

Construction

Accidents on construction sites can be dangerous to the lives of workers in and around that area. Real-time aerial inspection allows for quick site surveys and decreases instances of accidents. Autodesk has invested heavily in drone maker 3D Robotics, which can capture site data that can later be analyzed by the Autodesk software. Roof inspection, construction site, mining operations, and utility inspection are some of the drone applications in the construction market.

To know more about top drone applications:

Ask An Analyst_IR


IR24

Weekly Roundups: Our Pick of the Top Market Penetration Strategies to Improve Profitability

How can companies improve their profits? They can either strive to reduce their cost or improve their profit margins. Achieving any of the two factors is overly challenging, as increasing cost may shoo away the existing customer base and decreasing cost may deteriorate the product quality. However, there is still a ray of hope for companies looking to do neither. Market penetration is another way of improving the company profits. By selling more of the products to new customers in the existing market, companies can increase their revenue stream. In simple terms, market penetration denotes what percentage of people in the target market consume the product. There’s a plethora of market penetration strategy available to businesses to improve their overall business performance. Organizations should carefully pick one these strategies to succeed in the market. Here are some of the top market penetration Request Free Proposalstrategies that you should consider.

Price adjustment

What’s the easiest way to gain more customers you ask? Well, just lower the price of the product temporarily, and people will start buying your product. The price decrease should also take into account the pricing of competitors, as customers will only buy a product if the price is lower than that of the competitors. It is a key market penetration strategy that is almost sure to yield success. However, companies should use this strategy with a lot of care, as overdoing it may have an adverse result and cause losses. On the contrary, increasing the price of the product can help build a perception in the mind of the customers that the product is of high-quality.

Augmented promotion

Another way to make people buy the product is to bombard them with advertisements. Repetition is the key here. People are more likely to recall a brand and make purchase of products whose commercials they have seen in the past few days. Companies should carefully use such strategies, as advertising is expensive. They should know what kind of message to promote, and whom to promote it to. However, such a strategy is used by companies with deep pockets.

Distribution channel

The availability of the product also dictates the sales performance of the company. The idea is to open up more distribution channels so that consumers will have more options to purchase the product. Most new products fail because there are limited channels from where customers can buy. Today, only selling through a retail outlet is not enough. Companies should consider other channels including email marketing, telemarketing, and e-commerce.

Improving product quality

In most cases, the product itself speaks volumes. Many of the great products didn’t require much advertising to push it through. If the product is good, people will talk, and sales will increase. Although sometimes, to improve customer perception, significant improvements to the product may not be required. Communicating the better standard of the product can be enough sometimes. For instance, iPhone promoting its new launch as the best iPhone yet is the perfect fit for this scenario.

Create barriers to entry

A burning question many professionals may ask is how to succeed in the market and maintain the position of a market leader. To do so, businesses should create barriers to entry so high that competition may not think of entering the same market space. They can do so by minimizing variable cost to boost sales. It is equally essential to invest in technologies that give companies an edge over the others.

Strategic alliance

One of the most significant challenges faced by organizations trying to enter new markets is to understand the setup of the market and the consumers. To overcome such a knowledge gap, organizations may enter into strategic alliance with other companies to improve business performance. Strategic alliance may also take place in terms of marketing. For instance, the partnership between Apple iPhone and AT&T allows Apple to sell more iPhones then they usually would have.

For more information on the best market entry strategy, market penetration, and marketing strategies:

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Hydro Energy Client Gains Relevant Market Insight with the help of Market Assessment Solution

 

LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest market assessment study for a hydro energy client. The hydro energy industry is experiencing a resurgence due to technologies that lower the environmental impact. Additionally, the hydro energy sector has experienced growth prospects due to increase in pumped storage option.

“The market assessment solution helps the client to profile the most profitable target segments and devise the best possible market strategy. Additionally, it also helps the clients to identify the current market position of their company and key competitors through SWOT analysis.,” says an expert at Infiniti Research.

The market assessment solution offered helped the hydro energy client to increase market share across every vertical by understanding the demographics to create robust framing strategies across the industries.

Additional benefits of the market assessment solution

  • Obtain relevant market insights about the hydro energy market
  • Identify the current market position of the company
  • To know more,  request a free proposal

To know more about how our market assessment solutions helped the hydro energy client

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Pharmaceutical packaging

Industry Risk Assessment Helps a Renowned Pharmaceutical Packaging Client Address Potential Risks in the Market

The Business Challenge 

The client, a renowned pharmaceutical packaging manufacturer, wanted to understand the relative risk in the packaging industry and identify potential ways to reduce the bottlenecks. The client further wanted to determine the opportunities and position their products based on the target audiences. With the help of the industry risk assessment, the client wanted to seek ways to improve the time to market for the products offered. The primary objective for the client was to reduce the supply disruptions and reach out to the target audience in an agile and seamless manner.

Our Approach 

To understand the potential risks in the pharmaceutical packaging space, the industry risk assessment experts at Infiniti followed an extensive research methodology. The scrupulous research methodology comprised of interviews and discussions with prominent stakeholders in the pharmaceutical packaging space. Moreover, to reduce the time-to-market for the products offered, the risk assessment experts also compiled information across secondary sources such as industry databases, trade shows, regulatory bodies, and company presentations in the pharmaceutical packaging space.

The Solution Benefits and the Business Impact 

The industry risk assessment solution offered by Infiniti helped the pharmaceutical packaging client analyze the risks involved while entering the market with that of the competitors. The solution also assisted the client to understand the severity of the risks and the requirements to efficiently position their products in the market. Moreover, the solution also sought ways for the client to realign their product offerings to meet the rising consumer demands and adequately allocate the resources to meet the business requirements.

Are you looking to identify relative risks in the pharmaceutical packaging industry? If yes, request a FREE brochure to learn more about our services and to know how our services will help you tackle the industry challenges.

Future of Pharmaceutical Packaging Industry

The recent years have brought about incremental growth in the pharmaceutical packaging industry, owing to the rising demand for pharmaceutical products across the globe. The growing concern for reliable packaging that aids in protecting medicines and drugs from external elements is compelling organizations to resort to innovations to spur the sales of products. Moreover, the rising incidences of unfavorable elements such as biological contamination, physical damage, and degradation of pharmaceutical products will contribute to the growth of the industry. Despite the global uncertainty, the pharmaceutical packaging industry is witnessing a promising growth owing to the favorable market conditions and stringent regulatory compliance. Although the pharmaceutical packaging market is witnessing a promising growth, several factors may influence the growth of the market. These include:

The rise of counterfeit products: In recent years, the pharmaceutical packaging industry is witnessing an increase in the competition with a considerable number of players offering a wide array of product ranges. The recent rise in the number of counterfeit products is forcing companies to invest highly in R&D to improve their packaging techniques without compromising the quality of the products offered.

Fluctuating raw materials prices: In the pharmaceutical packaging space, it involves the use of end raw materials such as paper, board, and rigid plastics. The recent economic slowdown coupled with the inflation is creating uncertainties in the cost of raw materials, this, in turn, is necessitating the need to maintain stability in the prices of the products.

Request a FREE proposal to know how our solutions will help you tackle market challenges.

A Glimpse at the Future of Packaging Industry

The future of the pharmaceutical packaging space will be marked by the robust growth in technologies. Moreover, through advanced innovations, the pharmaceutical packaging space will witness the advent of smart packaging techniques that can help in the real-time monitoring of products through RFID technology. Leading organizations will also shift toward biodegradable packaging to reduce their carbon footprint.

CONTACT US to learn more about our services and their importance for your business.

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The Great Market Intelligence Challenge

With the sudden surge in competition in the global market, organizations are increasingly building capabilities that will help them understand the competitive landscape and anticipate the movement of their rivals. As a result, companies are turning to market intelligence andIR_Brochure various other business intelligence techniques and tools that provide actionable insights to facilitate strategic decision making. The key to gaining a competitive advantage is to understand, improve, and leverage market intelligence.

What are the Market Intelligence Challenges Encountered by Organizations?

Organizations often rely heavily on inaccurate and unstructured information sources to gain market insights. Traditionally, companies have followed a one-size-fits-all approach in every market, and have failed to realize that every market needs tailor made market intelligence solutions that can drive profitability in that particular market.

  • Businesses procure market and customer intelligence about a particular customer group or segment and apply it to the larger market, and the resultant losses are way too high
  • Organizations usually lack the infrastructural capability and the talent required to analyze market intelligence, which leads to complex processes and wastage of time and other resources
  • Management often feels that the return on investment (ROI) on market and business intelligence solutions is comparatively less. This happens because organizations often set low expectations and unclear objectives

 

How Can You Overcome Market Intelligence Challenges? Here’s How

  • Train professionals and employees in various analytical techniques, competitive intelligence, and business intelligence tools to gain better results
  • Make use of a variety of business intelligence techniques and methods to map, monitor, and track market performance and competition
  • Determine and implement key performance indicators (KPIs) that help in analyzing the competitive landscape, stakeholder performance, and market trends
  • Constantly update the organizational capability and competitive intelligence maturity level to develop and manage various projects

 

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To know more about market intelligence and the challenges faced by the organizations