Tag: new market opportunities

market opportunity analysis

Attracting New Customer Groups with Market Opportunity Analysis for a Fast Fashion Retailer

The fast fashion sector is a booming industry with diverse and big opportunities in store. However, this sector is faced with a unique set of challenges due to its highly dynamic nature. The recent events of some of the biggest fast fashion retailers having to shut shop is a wake-up call for players in the industry to stay prepared for a tougher economic environment with changing consumer trends and shifts in the fashion system. According to experts at Infiniti, this year will be shaped by consumer shifts linked to technology, social causes, and trust issues along with the potential disruption from geopolitical and other macroeconomic events. Only those fast fashion retailers who accurately reflect the trends or have the courage to self-disrupt will emerge as winners. By leveraging a market opportunity analysis fast fashion retailer can stay abreast with the changing market dynamics and also identify lucrative opportunities that can be capitalized on.

Every day you’re dealing with the changing nature of retailing and the information imbalance caused by mobile apps, social media, and big competitors with bigger budgets. Request a free proposal to know how our market opportunity analysis can help you successfully compete.

Business challenge

The client is a fast fashion retailer headquartered in Central America

market opportunity analysisOur client, a reputed fast fashion retailer noticed a sudden drop in sales. They believed it was due to the recent change in their merchandising mix. Their newer clothing line adhered to the latest trends in the fashion industry. They assumed that this attracted a different and new set of customers for the business. They were facing predicaments in confirming this assumption and if proved right they wanted to identify opportunities to lure similar customers and strategize to keep them hooked on to their brand. With Infiniti’s market opportunity analysis, the client also wanted to:

  • Find the exact age group of the new customer base
  • Identify the right marketing channels to invest in
  • Implement strategies to bring sales back on track

Capitalize on the right opportunities to scale your business to greater heights. Get in touch with our experts to learn more about our market opportunity analysis solutions and its benefits for your business.

Solutions offered

Our industry experts helped the client undertake a comprehensive market opportunity analysis. Factors including market size, customer database, and market trends were taken into account. A detailed customer intelligence engagement was also provided to the client apart from market opportunity analysis.

During the customer intelligence solution, our team of experts split customers into groups based on those who purchased since the merchandising mix change was implemented and those who hadn’t. For each group, they compared the number of new vs. existing customers, purchase frequency, transaction, and the total spend. When the categories favored by the different segments were compared, it was found that new merchandise was purchased mostly by new customers. It was also identified that the newer customers were younger, between the age group of 20-35.

Infiniti’s market assessment study offered as part of the market opportunity analysis also helped the client identify the key transformations in the US fast fashion industry. It also helped them identify the top marketing channels that are most lucrative to attract and retain new customers.

Results obtained

With over 15 years of experience in helping global businesses in successfully overcoming roadblocks in business, our experts helped the company in the fast fashion retail industry to adapt to the industry trends and transformations.

market opportunity analysisOur market opportunity analysis helped the client identify that their target customers are more likely to respond to display ads over direct marketing. This helped them invest in the right marketing channel and lure more customers to their brand. With this, they attained a 19% increase in targeted segment spend. Consequently, in less than 60 days they reversed their declining sales.

Learn more about Infiniti’s market opportunity analysis solutions

IR14

Weekly Round-up: A Storyboard on the Benefits of Market Opportunity Analysis

LONDON: Infiniti, a leading market intelligence solution provider, has announced the release of their new storyboard on market opportunity analysis and on how it has helped organizations meet their growth objectives by collaboratively transforming market information into a business advantage. With constant changes in market dynamics and policies, keeping up with the developments in the industry and exploring new opportunities have become crucial for businesses. While it’s tempting to rush to the market to transform your great business idea into a reality, the inability to carry out an effective analysis of market research opportunities can doom your business. Investing in a research campaign can easily help identify tweaks that might be needed for your product or service, saving time and money.

Keeping your finger on the pulse of your market will help you maintain a proactive approach and successfully outgrow your competitors by discovering new ways to expand reach outside your core business.

By leveraging market opportunity analysis, companies can gain a competitive edge over their direct and indirect competitors.  Infiniti’s solutions for market opportunity analysis have helped companies evaluate potential barriers to market entry, analyze distribution channels, and assess markets’ willingness for new offerings. To help companies understand how we can help evaluate marketing opportunities, we have collated some of our recent success stories on market opportunity analysis and have also highlighted ways in which our market opportunity analysis framework has helped businesses become market leaders.

#1: Elevating sales and productivity with market opportunity analysis: Crippled by the lack of capital resources, expertise, and support necessary to assess marketing opportunities, a large conglomerate approached Infiniti Research to improve customer service and increase the performance of its marketing campaigns. With the aid of Infiniti’s market experts, the client was able to boost sales and expand their market reach to new, profitable market segments.

Alcoholic Beverages Market Opportunity Analysis – An Infiniti Research Case Study

#2: Wondering what your customers really want?: If you’re still waiting to make a start to your business plans and determine your target customers, here is a step-by-step guide to conducting a comprehensive market opportunity research. Finding opportunities in a market isn’t a difficult task, but companies need to follow a certain procedure to ensure the accuracy of the information collated. Do it right and you’ll be surprised at what customer needs are currently unmet and how you can boost profitability through a scrupulous market opportunity assessment.

Step by Step Guide to Conducting an Effective Market Opportunity Analysis

#3: Identify the path to rapid growth and expansion with market opportunity analysis: Recently, a major gourmet food company faced issues in terms of stagnant market growth and rising competition from new market players. They wanted to evaluate marketing opportunities in the industry. By recognizing the need for an innovative approach, the company partnered with Infiniti Research to identify potential areas for innovation with market opportunity analysis. This solution offered helped them to spread their business operations to new and niche market segments.

Identifying Market Opportunities for Business Growth with the Help of a Market Opportunity Analysis Template – A Case Study on the Gourmet Food Industry

#4: Market positioning and perception analysis for new drugs: New products represent 27% of sales across all industries. It should, therefore, come as no surprise that businesses invest extensively in forecasting the lifecycles of their products. An international pharmaceutical major wanted to gain an in-depth understanding of the perceptions and market positioning of their new drug across target regions. Our market researchers equipped the company with qualitative and quantitative market opportunity insights to help spur sales, take better decisions, and identify new market opportunities.

Over the Counter Drugs Market Opportunity Assessment by Infiniti Research – A Pharmaceutical Industry Case Study

#5: How to find the business opportunity that is right for you? : Entrepreneurs go through various dilemmas when they want to introduce a new product or service in a market. Should they offer products based on an unmet need or should they select an existing product or service from the market and offer it in another space? Well, this is where the real importance of market opportunity analysis comes to the fore. Infiniti’s market opportunity analysis helps frame winning business strategies and allows businesses to flourish in a market that is extremely competitive.

Wondering how to identify potential market opportunities?

Well, look no further, our portfolio of solutions can help you boost revenues and market potential.

#6: Business streamlining for greater profitability: How do you make sure you are selling to the right people? Well, you need to clearly define your target market and evaluate marketing opportunities. But, do you still wonder if selling to the target market will have a two-fold effect on your business? If yes, read our success story on how we helped our client devise effective go-to-market strategies for the heavy machinery equipment market. Infiniti’s market opportunity research solutions offer accurate insights into target markets and helps identify customers’ needs to design and deliver products that will boost customer satisfaction levels.

Market Opportunity Analysis on the Heavy Machinery Equipment Market: Understanding the Existing Pain Points and Unmet Needs

#7: Crafting a bespoke experience for an automobile spare parts manufacturing company: While running towards a final goal is great, understanding, if you are on the right path along the way, is just as important! Our solutions for market opportunity analysis have made it possible for one of the leading automotive manufacturers to assessing the sales potential of their newly introduced automobile components. With an in-depth market opportunity assessment, the client was in a better position to market their products and drastically reduce time to market to drive higher sales per product.

Automobile Spare Parts Market Opportunity Assessment

#8: Medical devices startup meets their business goals: Infiniti’s market opportunity analysis helped a healthcare company to identify market entry barriers, market requirements, and gain a stronger foothold in the new geographical segment. Read this success story to know how the medical devices manufacturer was able to expand their business by gauging the growth potential of emerging markets in the Asia Pacific region with market opportunity analysis.

Market Opportunity Assessment for a Medical Devices Startup

#9:  Improving time to market for the consumer packaging market: With new trends influencing the packaging market, companies have been forced to make changes that will have a significant impact on their overall business value. By partnering with Infiniti Research, the client wanted to leverage market opportunity analysis to identify alternatives to improve their market share, which subsequently helped in better market positioning.

Market Opportunity Assessment: Uncovering and Understanding the Scale of Market Opportunities for the Consumer Packaging Space

#10: Freight provider transforms its entire business system: Infiniti’s market opportunity solutions helped the client to identify potential areas to promote their services. The market opportunity solution also helped the firm in determining the market trends to evaluate their market saturation and penetration levels.

Market Opportunity Engagement Helps a Freight Management Firm Identify Trends by Analyzing Market Data

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Connected Car Technology

Top 3 Challenges Companies Must Watch Out for Before Devising International Market Entry Strategies

Today, in the era of globalization, brands across the world have been compelled to ‘think global’ and expand their reach to international markets. This would eventually boost their growth and profit potential. Doing business in foreign markets is attractive for both big as well as small ventures and this is why robust international market entry strategies play a crucial role in making any brand a global success. But there are several challenges associated with a foreign market entry. Therefore, it is essential for companies to be careful while formulating international market entry strategies since they may overlook certain challenges that might prove to be fatal for the business. In this article, we have listed a few important challenges that companies must watch out for before devising international market entry strategies. To help companies achieve this, we have suggested a few measures that can help companies combat these barriers efficiently.

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Market Intelligence

Step by Step Guide to Conducting an Effective Market Opportunity Analysis

Business growth strategies include the evaluation and assessment of new markets and products lines or suggesting new ways to reach existing markets and better meet the needs of customers. In today’s business environment, sustaining growth is a major challenge for companies. Scientific and technological advances shorten the life cycle of products and services, changing business models and giving the scope to new competitors to enter the market. This constant instability makes it important for every market player to seek new business opportunities. But the question that arises here is how to do market opportunity analysis in such conditions?

The first thing you need to do is, define a framework to help search for opportunities. To do this, it is important to understand the business direction of your company and to have knowledge of the strengths, resources, and capabilities of your company. Once you develop a comprehensive understanding of your company goals and areas of expertise, the next step involves analyzing the market and assessing the needs of your customers and how they are being met by companies. For an effective market opportunity analysis, it is necessary to evaluate the business model as a whole by identifying customers and companies and other factors such as direct and indirect competitors, brand value propositions, existing regulations, supply chains, and the general business environment. In this article, we have examined how to analyze these factors in detail:Contact US

Step by Step Guide to Conducting Market Opportunity Analysis

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