In recent years, the fluctuation in the oil and gas prices has affected the overall growth of the industry with numerous companies relying on market assessment to tap niche market segments. Also, major suppliers in the oil and gas industry are seeking ways to sustain and retain their footprint in the oil and gas sector. In the oil and gas industry, market assessment helps renowned organizations gain accurate and objective evaluations of the environment forces, market trends, entry barriers, and competition in the supplier space. Also, completely relying on market assessment helps suppliers in the petroleum industry allocate their resources in a seamless and efficient manner.
In the petroleum supplier space, the suppliers need to understand their target audiences and identify opportunities that provide a better return on investment. To curtail the challenges associated with the wastage of resources, missing opportunities, and financial losses, the need for market assessment solutions has increased.
With years of expertise in offering a plethora of solutions, Infiniti’s market assessment solutions have helped leading businesses validate the potential opportunities and develop winning strategies. Furthermore, the study helps the client assess the size of the current market and identify the major factors sustaining the growth of the oil and gas industry. In addition, businesses can allocate resources effectively and gain better returns on investment.
The Business Challenge
A renowned petroleum products supplier was facing predicaments understanding the market landscape and wanted to devise an effective marketing strategy to reach out to the potential target audiences. Furthermore, the client wanted to understand the emerging macro and micro trends affecting the industry and work towards the attainment of sustainable growth in the oil and gas industry.
To understand the market dynamics and devise an effective go-to-market approach, the client approached Infiniti’s market assessment experts. Infiniti’s market assessment analysts decided to craft a unified dashboard comprising relative pieces of information to generate meaningful visual displays in the oil and gas industry. The client further carried out a blended approach consisting of interviews and discussions with leading stakeholders in the petroleum industry. In addition, the client also compiled information from various proprietary sources such as paid industry databases, company presentations, and industry forums.
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Market Assessment Solution Benefits:
- Gained an accurate analysis of the current market conditions and identified the potential market opportunities in the oil and gas industry
- Defined the organization’s tactical actions and understood the potential areas for immediate action
- Gained actionable insights into audiences’ wants and needs
- Benchmarked the service offerings with that of the competitors
- Formulated the most effective way to communicate with the customers
- Defined the brand promise and made informed business decisions
Benefits of Our Integrated Approach
With the help of robust market assessment study, the client was able to effectively target their audience’s wants and needs. Also, the client was further able to devise a robust go-to-market approach to improve their product sales across potential market segments in the oil and gas industry. In addition, the client was able to identify the potential opportunities in the marketplace and identify problems to effectively minimize risks.