“The chemical sector will continue to grow in 2020 and beyond despite a challenging global economy”, according to a market research expert at Infiniti Research.
The chemical industry has had a longstanding presence worldwide and contributes significantly towards the national GDP. However, rapidly evolving market dynamics and rising pressure from competitors have put companies in the chemical industry under a negative spotlight. Such challenges coupled with the rise in governmental and regulatory pressures have made it challenging for companies in the chemical industry to setup strict quality and process control measures and adapt to the fast-evolving market changes.
To succeed in the long-run, chemical companies will need to understand the industry’s fluctuating dynamics, as well as the market opportunities and sources of cost advantage. As such, they are partnering with firms like Infiniti Research to leverage their expertise in offering market intelligence services.
The client is a chemical manufacturer and supplier based out of Canada.
With technological advancements and constant innovations in manufacturing processes, the client faced difficulties in managing their production and distribution processes. In addition, the lack of adequate insights into the local markets, regulatory changes, and key insights related to end-user segments in the US made market expansion challenging for the company. Furthermore, the company required marketing and operational support to increase pipeline growth and speed up the routine tasks in a cost-effective manner.
They approached the experts at Infiniti Research to leverage their expertise in offering market intelligence services. With Infiniti’s market intelligence services, the client also wanted to:
Focus on core competencies – The client spent huge capital into targeting non-profitable customers and on developing products with low market demand. As a result, they witnessed a huge dip in their sales rate. With Infiniti’s market intelligence services, they wanted to efficiently focus on core business activities and pursue profitable market opportunities and maximize efficiency in their core business activities.
Get reliable information support – With constant changes in the market and unexpected demand fluctuations, the client’s corporate strategy team faced difficulties in making well-informed business decisions. Also, lack of insights into the US chemical industry made it more challenging for the company to successfully establish a foothold in the US chemical sector. With Infiniti’s expertise in offering customer market intelligence services, they needed support on gathering insights on various competitive products, local markets, regulatory changes, and target customers. In addition, with Infiniti’s market intelligence strategy, they wanted a country-level assessment report to identify profitable markets for expansion.
Implement structured and hassle-free process – The client also needed support in product comparisons and benchmarking. Furthermore, with Infiniti’s market intelligence services, they wanted to enhance demand forecasting accuracy for their products. In addition, with Infiniti’s market intelligence services, the client wanted to set up a structured process to streamline all requirements and meet customers’ demand in a flawless manner.
Solutions OfferedOur market intelligence services followed a four-phased approach. The initial phase involved understanding the client’s business objectives and analyzing their requirements. The second phase of the market intelligence services engagement involved a pilot study, which helped the client to estimate the capital and resources required for the market expansion plan.
The third phase of the market intelligence services engagement involved qualitative and quantitative market research and interviews with leading players in the chemical sector. The last phase of Infiniti’s market intelligence services engagement involved process standardization, where the experts helped the client to incorporate structured process and standardize quality and process control measures.
Furthermore, the experts at Infiniti Research provided a detailed country-level assessment report to the client. The report covered detailed insights into the chemical sector, regulatory changes, export-import tax details, and value chain updates. In addition, the experts also provided detailed insights into their key competitors at a global level. Also, by conducting a competitive benchmarking study, the experts helped the client to understand how well their product will compete in the market compared to their competitors.
The insights obtained from Infiniti’s market intelligence services helped the client to gather complete insights into the market and pursue profitable business opportunities. This helped them to structure their processes and focus on their core business activities. This further helped them to enhance efficiency in their decision-making process.
In addition, by gathering complete insights into the new market, they were able to devise a sound go-to-market strategy and make smooth entries into untapped areas. This further helped the client to enhance their market share and achieve a huge increase in their sales rate.
Entering into successful joint venture and partnership further supported them in expanding their operations across various regions. And, our research team supported the client in meeting their research and information needs across all the stages of market expansion in a cost-effective manner.
Why Businesses Choose Infiniti’s Market Intelligence Services?
Infiniti Research has over 15 years of experience in working with leading companies across the globe. With experienced, trained, and dedicated analyst support, we provide timely, actionable, and quality insights to help organizations focus on core business activities and succeed in today’s competitive marketplace. Our market intelligence services also assists sales and marketing teams in enhancing pipeline growth and dealing closures. Moreover, our market intelligence services help functional teams to optimize and speed up routine tasks in a cost-effective manner.
Our market intelligence center of excellence covers the entire gamut of research and analytics services for your in-house research and corporate strategy team. Here’s an overview of our industry-leading engagement models.