Creating a Global Marketing Strategy: Where Companies Go Wrong
Amid declining production and inventory rightsizing, the chemical industry witnessed an increased sales growth of 2.1% in 2016
The organic chemicals space is witnessing considerable growth with the rising industrialization and rapid urbanization. With the growing demand for organic chemicals among the end-user segments such as food and beverages, pharmaceuticals, and pesticides, the chemical industry at large is focusing on innovations to improve their production capabilities and enhance their overall marketing return on investment. Additional factors such as the growing financial prosperity coupled with the rising disposable income levels are expected to have a positive impact on the growth of the organic chemicals manufacturing space. Stringent regulations and growing awareness regarding the adverse effect of organic chemicals on health and environment may hinder the growth of the chemical industry. Our experts at Infiniti provide strategic insights that help in gaining a better understanding of the chemical industry trends and the drivers influencing the demand for organic chemicals.
Here are some of the challenges faced by the companies in the organic chemicals space:
- Increasing competition: Staying ahead of the competition becomes a challenge for the organic chemicals manufacturers with new players coming from non-traditional sectors such as energy, utilities, and mining. Moreover, companies operating in the chemical industry are reinventing themselves to become more agile and retain their market share in the industry.
- Keep pace with the rapid regulatory changes: Today, the organic chemicals manufacturers have to meet regulations in terms of labeling, handling, and storage of the products. So, organizations need to invest extensively in research and development to ensure that they are compliant with the set regulatory standards.
For players looking to establish themselves as major organic chemicals manufacturers, marketing strategy helps outline a business plan to achieve the desired business goals. Companies in the organic chemicals space can leverage the use of marketing strategy to understand the current chemical industry trends and identify the competitors to improve the overall business performance.
The Business Challenge
- The client- A renowned organic chemicals manufacturer
The client, a renowned organic chemicals manufacturer, wanted to better understand the chemical industry trends and the unique selling proposition to differentiate their products from the other suppliers of organic chemicals. The organic chemicals manufacturer also wanted to understand the 5Ps of the marketing mix regarding the product, price, place, promotion, and the people. Through a robust marketing strategy, the manufacturer wanted to keep the brand in mind to develop, assess, and devise an effective marketing plan.
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To devise a robust marketing plan for the organic chemicals manufacturer, Infiniti’s marketing strategy experts carried out extensive research comprising interviews and discussions with prominent stakeholders in the chemical industry. Moreover, to identify the latest chemical industry trends, our experts compiled information from a wide array of reliable sources such as trade shows, company presentations, and industry forums.
The Solution Benefits and the Business Impact
The marketing strategy solution offered by Infiniti offered insights to help the client create a flexible strategy to respond to changes in the customer perception and demand. Moreover, the organic chemicals manufacturer was able to develop a SWOT analysis to understand the strengths and weakness of the companies operating in the organic chemicals space. Moreover, the client was able to target and position their products to the right target audience through the right channel.
In the near future, the chemical industry will witness considerable growth with the relentless growth in innovations. Moreover, due to technological advances, the industry at large will also witness a growing demand for organic chemicals in areas such as biotech and fuel cells.
A must-read case study for strategy specialists and decision makers looking to develop a better understanding of the applications of the chemical industry.
LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest market segmentation solution for a renowned food chain client. The fast-food industry is flourishing despite the weakening global economy and increasing awareness of health risks. The global fast food market has been witnessing growth prospects due to rise in globalization and urbanization.
“The market segmentation solution offered by Infiniti assisted the client to comprehend and view important metrics such as the current performance, past performance, and pipeline. Subsequently, they were able to generate better sales and explore and analyze the characteristics of potential customers.,” says an expert at Infiniti Research.
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The market segmentation solution helped the client identify the customers with common characteristics. Additionally, the solution also sought ways for the fast-food chain to devise effective marketing strategies based on the needs, tastes, and preferences of the customers.
Additional benefits of the market segmentation solution
- Bring innovations in packaging and labeling to attract customers
- Drive engagement with customers through personalized offers
- To know more, request a free proposal
To know more about how our market segmentation solutions helped the fast food client
The food and beverage industry is one of the most exciting businesses out there that will sustain itself even in the time of economic hardships. This is because food is one of the basic needs of any human being. However, it doesn’t imply that running a F&B business without a strong marketing strategy will guarantee profits. It’s actually highly competitive; it wouldn’t be surprising to see multiple food chains on the same street or hundreds of brands selling the same food product.
So how do you ensure survival and profitability in this highly competitive yet lucrative market? One of the most obvious answers is devising a highly effective marketing strategy. But of course, that comes after being able to make good food. It is equally important to tell people how good your food tastes. So what are the critical factors to consider while creating a marketing strategy?
How do you develop a marketing strategy?
When it comes to food, the play area is limited, so most of the players will try to go for superior taste. However, that doesn’t create differentiation and a lasting brand positioning. It is essential to establish perceptions in the mind of the consumers when it comes to specific attributes.
For instance, restaurants can position themselves as the place to get the spiciest food, place with a unique experience or theme, super-fast service, authentic American steaks, or a family friendly restaurant.
Many studies have concluded that when consumers are shopping in a retail setting without the motive of any particular purchase, the buying decision is highly driven by attractive packaging. Who can blame consumers for picking up an attractively packaged chocolate only to find out the taste doesn’t live up to the expectation. So everything from logo design, use of elements, fonts, and packaging style to the material used will be analyzed by customers before making the decision. After all, consumers have a perception that what you see is what you get.
Marketing strategy and advertising work quite differently in the food and beverage industry. Instead of being influenced by advertising, people try out new food or drinks based on reviews, personal opinion, and recommendations.
As a result, implementing an influencer-based marketing strategy is vital for the food and beverage business to be recognized amongst the foodie community and gradually gain mass popularity. A single post by a food blogger on a particular food brand will generate thousands of impressions with impressive conversion rates.
Intense competition in the food and beverage industry has made it difficult for niche food brands to fight for consumers’ attention. People usually search for a particular food or beverage before making the purchase, and it is crucial for brands to be present when they are making such decisions right from searching for information to finalizing the purchase.
It is essential to list the business in online directories and review sites and apps such as Yelp, Zomato, OpenTable, Zagat, and Dine. Such listings not only build the brand reputation but also increase the brand visibility.
Social media marketing
Apart from each brand having a unique marketing strategy and a USP, each brand has its unique personality. Social media is the best place to build on such a personality and connect with the consumers.
Driving brand engagement via social media can build brand loyalty and drive sales. Brands such as Wendy’s, Burger King, Taco Bell, and Oreo are known for witty ways of interacting with the customer. Apart from that, people also love sharing good experiences when it comes to food and beverages. A well presented or well-packaged food has a high probability of being shared on an Instagram story or a Facebook post.
In the current scenario, the quick service restaurant industry’s growth has been spurred on by globalization and the general increase in the income of the global population. The rapid economic growth has also enabled the creation of a new market for the quick service restaurant space, owing to the increased demand for and consumption of convenient, quick serving, and ready-made meals. The high demand and popularity of these businesses can be attributed to several factors including the handy dining experience offered at a relatively low price. Speed in service, competitive pricing, and convenient locations mark the characteristics of a typical QSR. Furthermore, quick service restaurants are considered to be low-risk ventures in terms of investments and operations. However, changing customer preferences, increasing demand for quality, and extreme competition pose challenges to firms operating in this sector.
Let’s take a look at a few impediments for players in this industry:
- Technological factors: Technological factors have been an important influence in the quick service restaurant industry. Technological factors have brought about significant changes in the way food brands interact and engage with their customers. Moreover, they also affect the marketing and advertising strategies of brands.
- Increasingly saturated market: The quick service restaurant space is currently booming and businesses operating in this sector face stiff competition from their peers, leading to the decline in individual store sales. Hence, firms have started focusing on developing strategies to enhance customer loyalty and gain a competitive edge.
To overcome such challenges and to enable smooth functioning several players operating in the quick service restaurant space are leveraging the use of marketing strategy solutions. Marketing strategy helps companies focus on customer retention to increase the visibility of the brand. Additionally, our solutions help clients develop lasting relationships with their customers while developing ways to improve loyalty and trust with both the current customers and prospects.
The Business Challenge
- The client: A Quick Service Restaurant
The client, a leading player in the quick service restaurant space, with outlets spread across the globe, wanted to devise effective ways to monitor consumer demands and expectations. The client was looking at implementing certain methods which will help them reduce service time and drive customer satisfaction. Additionally, in order to achieve long-term success, the client wanted to build loyal consumers through a strategy of relationship marketing approaches.
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Infiniti’s team of marketing strategy experts carried out extensive interviews and discussions with prominent stakeholders, to gain a detailed understanding of the current market scenario. Moreover, our experts were also successful in gathering information from primary sources including industry experts, researchers, consultants, and distributors. They also explored secondary sources like newsletters, business journals, and market research data.
The Solution Benefits and the Business Impact:
The solution’s offered by Infiniti’s marketing strategy experts assisted the client in improving customer loyalty through targeted ad campaigns. Our solutions also helped the client in identifying promotional strategies to enhance their profitability and maintain a successful business performance during the recession in an economy. The client was able to divide their end-consumers into navigable segments and develop effective campaigns based on their preferences. Based on a combination of past performance and future projections the client was able to set their goals. Furthermore, our solutions helped them develop a consistent level of brand recognition amongst the target segment.
Around the world, QSRs are investing tens of millions of dollars in offering mobile on-the-go service to their customers. Technology will continue to play a pivotal role in transforming the industry, as technology is one of the assets that aid in offering a seamless customer experience. Moreover, restaurant brands who understand their customers, capitalize on digital/technology investments and analytics, and seize upon the opportunity to engage customers in an extremely personalized way can drive increased dining frequency, check size, customer conversion, and loyalty.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the quick service restaurant sector
LONDON: Infiniti Research, a global market intelligence solutions provider, has announced the completion of their latest marketing strategy solution for a renowned telecommunications industry client. The telecommunication industry creates a set-up that allows data to be sent anywhere in the world. Factors such as frequent innovations and increasing competition are posing challenges that hinder the growth of the telecommunications industry.
“Marketing strategy helps companies to increase their focus on identifying and analyzing the primary market and the secondary market and evaluate competition. Additionally, the marketing strategy solutions offered by Infiniti Research help firms address the customer requirements and devise new strategies to market the offerings,” says an expert at Infiniti Research.
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The marketing strategy solutions offered helped the telecommunication industry client to improve their marketing campaigns and provide their customers with personalized brand experiences. The client also gained actionable insights into the unique selling points in order to fix a right price for the products and services offered.
Additional benefits of the marketing strategy solution
- Develop a robust marketing campaign that resonates with the target audience
- Gained insights into ways to position the product in the marketplace and generate a better return on the investments
- To know more, request a free proposal
To know more about how our marketing strategy solutions helped the telecommunication industry client
With the rising health consciousness, the consumer’s buying habits have changed, which has further increased their spend on products to remain healthy. As a result, the businesses in the consumer goods space are refining their strategies to capture growth and efficiently connect with their target audience. To profile the most profitable customers and tailor their product and services to their needs, leading businesses in the consumer goods space should ideally include a robust marketing strategy as a part of their business offerings. In this relatively competitive environment, businesses offering consumer packaged goods are focusing on consolidating their position in emerging markets and minimizing complexity to stay ahead of the curve. With the aid of marketing strategy, leading businesses in the consumer goods space can meet the relentless demands for the products and services and develop a profitable relationship with the customers. Also, marketing strategy plays a pivotal role in characterizing the needs of the customers and directing their marketing efforts to improve business performance.
To create a strategy that focuses only on the strengths and needs of the customers, consumer goods manufacturers are approaching renowned solution providers such as Infiniti. With years of expertise in offering a plethora of solutions, Infiniti’s marketing strategy solution focuses on monitoring and evaluating the effectiveness of marketing campaigns and leveraging various forms of social media channels such as advertising to create an effective point of sale strategy.
The Business Challenge
A leading consumer goods packaging client with offices spread globally was facing predicaments drawing a marketing plan to respond to the changes in consumer needs and attitudes in the industry. The client wanted to conduct a SWOT analysis to accurately position their products in the retail space. Moreover, the client wanted to utilize marketing strategy to offer personal and flexible customer service and maintain a marketing campaign that resonates with the intended target audience. The primary aim of the engagement was to identify the company’s value proposition and devise a marketing plan to improve brand awareness and enhance brand loyalty.
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With an aim to improve the marketing efforts and tap potential business opportunities, Infiniti’s marketing strategy experts carried out extensive interviews and discussions with leading stakeholders in the consumer goods space. The consumer goods space is witnessing a manifold increase in the number of new players. Therefore, to tackle the bottlenecks and improve the overall marketing effectiveness, Infiniti’s experts compiled information from a wide array of secondary sources such as paid industry databases, company presentations, and industry forums.
Benefits of Infiniti’s Solution
The marketing strategy solution offered by Infiniti helped the client assess and adjust their marketing efforts to meet the consumer’s requirements. Moreover, the engagement also offered suitable ways for the client to understand the prevailing competition, the target market, and create a robust, unique selling proposition to improve their market effectiveness. The engagement also focused on identifying and shortlisting the potential target segments to tailor their marketing efforts to enhance business productivity.
Additional Benefits Offered by Infiniti Include
- Devised a well-defined market strategy for consumer goods and offered a consumer-recognized brand product
- Created an efficient distribution channel and gathered and analyzed customer data
- Gained strategic insights on customer buyer behavior and aligned companies activities with their objectives
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the retail and CPG industry
Power distribution plays a pivotal role in the effective functioning of various businesses across the globe. Since the distribution of power should be efficient and adequate for all organizations, renowned companies in the power distribution space are compelled to leverage effective marketing strategies. With the help of a marketing strategy, power distribution companies can reach out to different potential customers and ultimately improve their value proposition.
In the power distribution space, marketing strategy assists companies to develop and maintain marketing campaigns that resonate with the target audience. Also, with the help of an effective marketing strategy, renowned companies in the power distribution space can ensure that the services meet the customers’ needs and further develop a profitable long-term relationship with the customers.
To further understand the efficiency of marketing efforts, leading power distribution companies are approaching organizations like Infiniti. Infiniti’s marketing strategy solution helps businesses devise a one-size-fits-all approach to respond to changes in the customer perceptions. The marketing strategy solution also helps businesses in the electrical distribution system space effectively monitor the effectiveness of their marketing campaigns and make timely adjustments.
The Business Challenge
A renowned power distribution company with a considerable number of distribution units spread across the globe was facing certain predicaments identifying the key elements of a successful marketing strategy. The power distribution firm wanted to seek ways to understand their strengths and weaknesses and devise an effective point of sales strategy to sell the products. In addition, the client further wanted to conduct an honest and rigorous SWOT analysis to gain a more accurate picture of the company’s position in the market.
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To identify the potential opportunities and increase sales and profitability, Infiniti’s marketing strategy experts carried out extensive research comprising interviews and discussions with prominent stakeholders. To effectively monitor the distribution of power, the marketing strategy experts at Infiniti also compiled information across a wide array of proprietary sources such as paid industry databases, company presentations, and industry forums.
Marketing Strategy Solution Benefits
- Identified the prices of the products and services and built strong relationship with customers’
- Understood the position of the company in the marketplace
- Devised effective ways to promote the promotion of the product in the marketplace
- Identified needs of the customers and devised a customer-centric approach
- Analyzed business opportunities and encouraged promotional campaigns
Benefits of Our Integrated Approach
With the help of the marketing strategy offered by Infiniti, the client was able to dedicate a team to identify emerging opportunities and create compelling advertising campaigns to improve the business outcome. The engagement also helped the client define the potential target markets and implement tactical ways to reach out to these markets.
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The Information Technology (IT) industry has powered the growth of the world economy as organizations are driving efficiency and saving costs by outsourcing to countries with skilled talents like China and India. Over the last decade, the IT industry has witnessed dynamic changes in its mode of operation. For instance, the majority of the app-based vendors like Netflix, Dropbox, and Salesforce have reformed their revenue model from a sales-based to a subscription-based model. Such changes to the revenue and business model have urged the companies to revisit their marketing strategies and continuously perform effective market analysis.
Our market research experts can help you gain detailed insights into the IT industry, developments impacting growth, competitive landscape, and much more. Get in touch to know more.
Is Market Analysis Important to the IT Industry?
Recent advancements in the level of automation and technological innovation have posed a big challenge to managers in creating business forecasts. The IT industry has been experiencing rapid growth due to development of new IT services such as CRM tools, ERP, managed IT services, alongside cloud computing service models such as SaaS, PaaS, and IaaS.
Additionally, businesses also have to regularly perform market analysis to create accurate forecasts, market entry strategies, and market sizing and competitive positioning exercise. Businesses also have to carry out a thorough market analysis to gain a complete overview of the market and devise an effective marketing strategy.
For over a decade, Infiniti Research has been helping clients in the IT industry to perform effective market analysis and design an effective marketing strategy.
More than 55 Fortune 500 clients have leveraged solutions from Infiniti Research to:
- Identify and mitigate risks in potential new segment
- Devise an effective product marketing strategy
- Assess potential opportunities and current market performance across diverse geographies
- Develop a robust business plan to tackle market uncertainties
- Perform a deep target market analysis and identify cultural and legal regulations
A comprehensive market analysis presents the clients with a holistic picture of vital components in the market, which helps companies in the IT industry to adjust to the existing dynamic environment.
Read the full case study: Effective Market Analysis Assists an IT Industry Client to Devise an Effective Marketing Strategy
For more information on how your company can create effective marketing strategies using market insights, request more info.