Tag: marketing strategy

Go to market strategy

Infiniti’s Go to Market Strategy Helped a Consumer Electronics Company Successfully Launch their New Product and Enhance Profit Margins by 17%

Go to market strategy for a consumer electronics company

The US consumer electronics industry is growing at a fast pace. This rapid pace of change has opened up a host of market opportunities for companies operating in the consumer electronics industry. However, with a large number of new products being introduced every year, consumer electronics companies have also been forced to alter their business strategies to stay relevant in today’s competitive marketplace. This necessitates consumer electronics companies to leverage a go to market strategy to develop customer-driven marketing strategies and identify the best channel to reach their customer base.

Are you planning to launch a new product in the market? Choosing the wrong sales channel can prove to be costly for your company. Request a FREE brochure to gain more insights into our services portfolio and learn how our go to market strategy can help you devise an efficient plan for your new product launch.

Business Challenge

The client is a consumer electronics company based out of Midwestern United States. The client wanted to launch a new electronic device in the market. As many of their previous product launch attempts failed, the client required help in commercializing and launching their new product. Before the product launch, the client wanted to identify specific gaps in the marketplace that their new device will help overcome. They also wanted to identify channels preferred by their target customers. Also, by gathering comprehensive insights into the US consumer electronics market, the client wanted to competitively price their products. Furthermore, with Infiniti’s go to market strategy, they wanted to maximize the chances of their product success.

Solutions Offered and Value Delivered

The experts at Infiniti Research worked closely with the client’s sales team to develop a go to market plan. The experts at Infiniti Research identified the gaps in the marketplace which the client’s new product will help solve. The experts also analyzed customers’ buying patterns and channels of purchase. This helped them devise a product positioning strategy. The insights obtained from Infiniti’s go to market strategy engagement helped the client to focus on key niche markets and develop effective marketing and advertising strategies to support the product launch.

Infiniti’s go to market strategy helped the client to launch their new product successfully, ensuring its commercial success without affecting the performance of the current product line. In a span of 1 year, the newly launched electronic device significantly exceeded their revenue expectations. By identifying the channels of purchase preferred by their customers, the client was able to efficiently engage with their target customers. Also, by leveraging Infiniti’s go to market strategy, the client was able to enhance their profit margins by 17%.

Infiniti’s go to market strategy also helped the client to:

  • Reduce time to market
  • Enhance customer experience
  • Increase brand visibility and customer loyalty
  • Reduce cost-to-serve (expenses associated with product distribution process)

Request a FREE proposal to know how our go to market strategy can help your business choose the right channel to promote your new products or services.

What is go to market strategy?

Go to market strategy is the way by which an organization introduces a new product to the market. The GTM strategy is a part of marketing strategy. A well-defined go to market-strategy offers actionable insights by analyzing the potential customers, the value proposition, and the need for product differentiation. Steps to developing a go to market strategy are as follows:

  1. Defining the target market
  2. Defining target customers
  3. Defining brand positioning
  4. Defining product offering
  5. Choosing marketing channels

Steps to Formulate an Effective GTM Strategy

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product launch strategy

Infiniti’s Product Marketing Strategy Helped a Consumer Electronics Company Reduce their Marketing Spend by 17%

The consumer electronics market in Canada is undergoing massive transformations. With the ongoing shifts in consumer needs and market demands, companies in the industry are finding it extremely challenging to adapt to the changes. Also, with the recent technological advancements, companies today have the option of engaging customers through multiple channels. With this, companies in the consumer electronics industry are encountering difficulties in finding the right sales channel for product promotions have become extremely challenging for businesses.

Today, companies need to look beyond traditional sales channel to generate better sales result. Request a FREE brochure to gain more insights into our services portfolio and to know how they will help you in building a robust product marketing strategy.

Business Challenge

The client is a consumer electronics company based out of Canada. Having launched a new product in the market, the client faced several challenges in generating an adequate market share for the product. Also, as many of their previous product launches failed due to their ineffective product marketing strategy, the management did not wish to take a chance. The client identified that ineffective promotional activities, inadequate understanding of the competitive activity, and wrong timing of distribution were some of the factors behind most of the product failures. Therefore, to effectively address these issues, they wanted to adopt a robust product marketing strategy to successfully position their new product in the market. As such, the client approached Infiniti Research to leverage their expertise in offering product marketing strategy engagement.

Solutions Offered

As a part of product marketing strategy engagement, the experts at Infiniti Research analyzed multiple dimensions of the market, competition, product, pricing, and target customers to develop a comprehensive product marketing plan.

The product marketing strategy engagement involved the following steps:

  1. The experts gathered insights on the key trends in the industry
  2. The experts analyzed the key buying behaviors of the target customer segments for a new innovative electronic product
  3. Conducted customer survey with the target customers to test the value statements
  4. Based on the market feedback, developed marketing strategies

Results and Value Delivered

With Infiniti’s product marketing strategy engagement, the client was able to build a robust product marketing strategy to successfully produce and market their new products in the market. The experts also recommended the client to focus on online sales channels for product sales. With this, the company was able to achieve its revenue goal within 3 years of new product launch. The devised product marketing strategy further helped the client to optimize marketing investments and maximize profits.

Infiniti’s product marketing strategy engagement also helped the client to:

  • Reduce their total marketing spend by 17%
  • Enhance sales and profit margin
  • Gain a stronger competitive advantage
  • Heighten customer awareness

Wondering how to avoid the common pitfalls before introducing a new product in the market? We can help. Request a FREE proposal to know how.

How to develop a product marketing strategy?

Today, businesses spend millions of dollars on marketing a new product each year. Also, companies compete with each other to achieve maximum market share for their products. In this context, businesses that do not have an appropriate product marketing strategy are more likely to lag behind in its marketing activities compared to its competitors. Let us take a look at how to develop an effective product marketing strategy.

PRODUCT MARKETING 1Defining products – Customers do not buy a product unless they have complete information about is offered. So, businesses need to create marketing messages which clearly defines the product and reflects its value in the market.

Profiling competitors – Identify competitive advantages and build better product marketing plan compared to competitors. By identifying gaps in competitors’ offerings, businesses can stay ahead of them.

Understanding the target market – It will be difficult to build a robust product strategy plan if companies do not have an in-depth understanding of their target markets.

Creating a marketing plan – Based on all the above analysis, companies can develop a marketing plan to effectively position their product in the target market.

PRODUCT MARKETING

Today, too many businesses dive into new markets and introduce new products. Lacking a proper product marketing strategy can potentially affect the company’s bottom line. To avoid this scenario, CONTACT US to leverage our product marketing engagement.

marketing strategies

Marketing Strategies for Expanding Your Business into Europe: Key factors to consider

Since 2014, there has been a tremendous marketing transformation in Europe. Amidst this, marketers are having a tough time perfecting their content marketing strategies to engage European customers. Successful market strategies are those that are highly responsive to different environments. There might be substantial variations in the focus, aims, and techniques of marketing over time, making it imperative for companies entering the region to understand the existing disparities and to respond to them with effective marketing strategies.

With several years of experience across various industries, experts at Infiniti Research have used their expertise in assisting global clients to successfully meet their business and marketing goals. Request a free proposal to know how we can help you!

What is a marketing strategy?

marketing strategies

Marketing strategies combine a company’s marketing goals into a comprehensive plan to achieve them. Effective marketing strategies should include market research and focus on the right product mix in order to maximize profit potential. Top companies around the globe have realized the importance of marketing strategies in identifying the best customers and understanding their needs. Moreover, it also helps businesses gain a competitive advantage over their rivals in the industry.

Creating a marketing strategies for the European market

Understand the customers

It is often observed that B2C companies are ahead of the curve when compared to B2B companies in exercising effective marketing strategies, especially on social platforms. However, considering the fact that today both customers and businesses have an active presence on online channels, B2B companies must also lay more emphasis on enhancing their marketing strategies. Furthermore, European customers are known to be highly dependent on digital devices either to make a purchase or research about a product/service that they are interested in. So, companies must begin by creating content that their target audience is searching for. This can be done by gaining insights from the sales and customer service teams about what makes customers dissatisfied. Companies can also set up a social media monitoring dashboard to better monitor keywords, interests, and brand mentions.

Create a targeted approach

Modern companies must not overlook the fragmented distribution ecosystem, rather they must create a highly targeted and specific approach for each channel. In the US, for instance, companies have already understood the importance of this and are implementing more targeted marketing strategies when compared to their European counterparts. In this era of immersive content, companies in Europe must look at ways that they can enhance their marketing efforts by enhancing user experience through the use of advanced technology.

Request a free brochure to gain access to our tailor-made services that are designed to suit the needs of organizations across various industries operating in different geographies.

Understand the nature of market

Certain marketing strategies often do not work as well in Europe as it does in countries like the U.S. Furthermore, one marketing strategy may not be effective across different countries in Europe. Marketers need to understand Europe is not a homogenous market. One of the key challenges here for companies is to understand the local language, the market maturity and the buyer behavior of Europeans. In most cases, highly localized content and marketing strategies that are suited to specific regions in Europe prove to more effective. European marketers sometimes make the mistake of creating and rolling out the same content across Europe without adapting their content to the specific target market and buyers in the specific countries. The best marketing strategies are those that adapt to the changing needs of customers. For instance, a buyer of office furniture looks at office furniture differently when compared to a customer for the same product in the Netherlands or the UK.

Marketing automation

One of the biggest differences between the marketing strategies used in the US and Europe is that in the US, companies are looking at how marketing automation rapidly steps up to the next level such as machine learning and AI. The EU market, on the other hand, is playing catch-up on this front, and the gap between adoption and the technical offering is getting larger.

Get in touch with us for more insights on global marketing transformation and tips on growing into the European market.

IR15

Identifying Potential Market Segments with the Aid of a Market Assessment Framework – An Infiniti Research Success Story

About the Client 

The client is a leading luxury cars brand, known for its luxurious cars and automobile parts. Based out of the United States, the company is slowly expanding its reach worldwide.

Business Challenge 

The future looks sharp for the automotive industry. With global economic growth, innovations, and the adoption of the latest technologies, revenue for the automotive industry is poised for growth. However, with the evolving automotive industry trends, automotive manufacturers need to rely on innovations to meet the growing demands for customization. Moreover, automotive manufacturing companies need to find innovative ways to reach out to the customers, while meeting the quality standards.

These challenges have urged players in the automotive industry to leverage the market assessment framework to outsmart the global competition. Market assessment framework provides comprehensive insights into the automotive manufacturing space in terms of the demographic and economic overview, location mapping, competitor analysis, and key demand drivers.

Business Case: The client, a leading luxury car manufacturer approached Infiniti Research to engage in a market assessment study. With Infiniti’s market assessment framework, the client wanted to seek ways to identify the most profitable segments and refine their relationship with the consumer base. Additionally, they also wanted to gain adequate insights into customer experience, buying patterns, their perceptions of the brand, and major competitors in the automotive manufacturing space.

To drive profits, organizations need to head forward and embrace new techniques and processes to unlock their hidden potential. Do you agree?

If yes, Request for a FREE brochure.

Top Challenges Faced by the Luxury Cars Manufacturer 

Problem Statement 1

With the increase in disposable income of the consumers and the rise in luxury offerings in vehicles, the demand for luxury cars have increased significantly. This compelled the client to invest in developing a business strategy model that could meet their business goals. With Infiniti’s market assessment framework, the client wanted to identify market trends and opportunities to develop robust business strategies.

Problem Statement 2

Using market assessment framework, the client wanted to identify their weaknesses and strengths in order to enhance the value of services and products being offered.

Problem Statement 3

Their inability to understand the current customer landscape proved to be costly, leading to a sharp decline in customer retention rate. This prompted them to devise a market assessment framework to understand their customer base better.

Problem Statement 4

With Infiniti’s market assessment framework, the client wanted to gain insights into their current market scenario to develop customized value propositions.

Gain data-driven insights to deliver profitable results by leveraging Infiniti's market assessment framework. Request for more info!

Solutions Offered and Value Delivered 

To tackle the above-mentioned challenges, the experts at Infiniti adopted a comprehensive marketing strategy framework. The marketing framework included the following phases:

Phase 1

Our researchers conducted in-depth market surveys and compiled data from a wide array of secondary sources such as government bodies, industry forums, and company presentations in the automotive industry space.

Phase 2

Based on the data collected, the experts at Infiniti created a market assessment framework, that combined detailed information on their business goals, budgets, major action items and timelines to effectively market their products to the target customers.

Phase 3

The devised market assessment framework helped the client to analyze competitors in terms of market penetration, product and market development, and clearly illustrated their market positioning in the target markets.

With the aid of Infiniti’s market assessment framework, the client was able to obtain a holistic view of the entire market, in terms of market value, customer behavior, global competition, and entry barriers. This enabled the client to better understand and analyze the potential market opportunities that aligned with their business goals. Additionally, the client also gained insights on market trends that helped them make necessary adjustments in their design and development approach and product marketing strategies.

 

Why leverage Infiniti’s market assessment framework?

Businesses need to have a precise understanding of their market and customers to succeed in the long-term. This helps them in developing a successful marketing strategy framework and gaining in-depth insights into the factors affecting their business. A market assessment framework is designed to provide a quantitative and qualitative assessment of the market and to determine the market size, customer segments, buying patterns, and economic barriers for businesses.

Infiniti’s market assessment framework provides a comprehensive view of the industry. It gives predictive insights about industry growth and defines key metrics such as size, trends, and projected growth. Infiniti’s market assessment framework includes all the details of businesses operating in similar domains and helps in understanding the larger landscape that your business is competing in.

CONTACT US to know more about our services.

Market Entry Strategies

Marketing Strategy : Building a Robust Marketing Plan and Increasing Profit Margins by 25% for a Chemical Company

With the increasing pressure caused by new entrants in the market, lack of innovation, and diminishing opportunities to differentiate against competitors, the chemical companies are on the verge of disruption. Thus, chemical companies are realizing that, in order to address the next wave of opportunity and enter new markets, they will have to shift from a historic “operations-driven” focus to more agile service-driven businesses. But the question major players in the chemical industry come accross is, how to gain a competitive advantage? Well, this is where a marketing strategy comes into play. A robust marketing strategy is a marketing plan that help businesses keep tabs on target market segments, analyze their target customer, forecast demand-supply shifts, track emerging market trends, regional market developments, and provide insights on the potential impact of changing factors on business segments for gaining a competitive advantage in the market. So, let’s find out how Infiniti’s marketing strategy solution helped a chemical company gain a competitive advantage in the market.

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