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Competitive Pricing

Competitive Pricing Strategy Helped a Fashion Retailer to Enhance Customer Retention and Improve Sales by 21%

Competitive Pricing Strategy for a Fashion Retailer

With the ever-growing popularity of online shopping, the competition in the fashion retail market is on a constant rise. This demands fashion retailers to keep a watch on their competitors’ pricing strategies while setting prices for their products. By leveraging a competitive pricing strategy, businesses can compare and analyze the final prices of their products against the prices of their competitors.

Want to efficiently price your product and services based on the market competition? Our competitive pricing strategy can help. Request a FREE proposal today!

Business Challenge

The client is a fashion retailer based out of Germany.

Our client, a fashion retail firm, encountered a steady decline in their sales rate for two consecutive years as they focused on cutting costs instead of investing into acquiring new customers and increasing revenue. In an attempt to retain their valuable customers, they provided huge discounts and offers to them. However, this resulted in price wars with their competitors and had a negative impact on the company’s profit margins. Therefore, before setting prices for their new products, they wanted to carry out a thorough analysis of their competitors’ pricing models.

CaptureAlso, by leveraging Infiniti’s competitive pricing strategy, the client wanted to meet their business objectives such as:

Higher rate of success – By leveraging Infiniti’s competitive pricing strategy, the client wanted to track their competitors’ products and prices over time. By doing so, they wanted to make changes to their product prices accordingly.

Prevent the loss of market share – By leveraging Infiniti’s competitive pricing strategy, the client wanted to set the product prices the same as their competitors or even cheaper. By doing so, they wanted to regulate the competition by preventing the loss of customers and market share to their competitors.

Adopt dynamic pricing – With Infiniti’s competitive pricing strategy, the client wanted to stay abreast of price changes in the market. Also, they wanted to adopt a dynamic pricing model to make random changes to their prices to compete in the market and maximize profits.

Today, as customers are more price-sensitive, implementing an efficient competitive pricing strategy is imperative for businesses to retain them. Contact us to leverage our competitive pricing strategy.

Solutions Offered

Our competitive pricing strategy followed a four-phased approach that included:

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  • A market scanning and monitoring analysis to analyze the factors impacting the product demand in the German fashion retail market. Also, the experts analyzed the different pricing strategies gaining popularity in the German fashion retail market.
  • A competitive intelligence study to analyze the top companies in the German fashion retail industry. Also, the experts analyzed the pricing strategies, business models, and market position of the top fashion retail brands in Germany.
  • A competitive pricing strategy engagement to evaluate the price gaps between the client and their competitors.
  • A market segmentation study to categorize target customers into various categories based on their buying behaviour, spending patterns, and value for the brand.

Results Obtained

Infiniti’s competitive pricing strategy engagement helped the client to competitively set prices for their products. Also, by continuously tracking their competitors’ products and prices over time, they were able to adjust their prices accordingly to achieve a higher rate of success. In addition, by implementing a dynamic pricing model, they were able to make rapid changes to their prices to compete in the market and maximize profits. This helped the client to regulate the competition by preventing the loss of customers and market share to their competitors.

Also, with Infiniti’s competitive pricing strategy, the client was able to curtail losses in market share and adopt cost-effective marketing and discounting strategies based on the market competition. This helped them to retain their valuable customers and enhance sales by 21%.

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Pricing strategies

Unleashing the Power of Pricing Strategies for Businesses

Infiniti Research, a leading market intelligence solutions provider, has announced the launch of their latest newsletter on pricing strategies for businesses. With the market becoming increasingly competitive, choosing the right pricing strategy isn’t easy as it used to be. Today, customers demand robust and timely services that cater to their needs. Also, with the rising use of the internet and smartphones, customers can now compare prices with just a click of a button. So, the pricing strategies that companies choose must be one that not only gives a good ROI but also gives a sense of ‘value for money’ to customers.

Adopting Healthcare Pricing Strategies: What to Keep in Mind

Changing economic and demographic characteristics are affecting the healthcare needs of patients worldwide. So, healthcare companies are under the pressure to create robust pricing strategies to attract customers, cover costs, and make profits.

Although there are a number of pricing strategies that healthcare companies can employ when setting the price for their products and services, it’s vital to have a value proposition that justifies those prices. This is where the real power of devising a competitive pricing strategy comes into play.

Adopting a competitive pricing strategy can help healthcare firms as it helps strengthen their brand value and save money in the long-run. By leveraging a competitive pricing strategy, healthcare firms can gain access to real-time price trends in the industry and competitors’ pricing models. There are certain factors that enable healthcare companies to competitively price their products and services. Our latest blog unveils these key factors and more.

Why your product pricing strategy needs an update?

To sustain a leading edge in today’s competitive marketplace, businesses must revamp their traditional pricing models and proactively respond to competitors’ plans and price changes. Gone are those days where businesses leveraged cost plus pricing strategies by solely relying on the cost of production and distribution. Today, businesses must take into consideration various factors such as competitors’ pricing models, the market value for the product, demand patterns, and price elasticity while setting the price for their products.

Our latest blog highlights four reasons why businesses must leverage new pricing strategies. If you are still confused about choosing the right pricing strategy for your business, Infiniti’s experienced market research experts can help.

Pricing a New Product: Right Pricing Strategies to Follow

Recent research shows that even minor variations in product pricing can lower or raise profit margins by more than 20-25%. So, while setting the price for a new product, businesses must formulate product pricing strategies that are favorable to all the parties involved. But, is it an easy task? Certainly not! To assure profitable sustenance, businesses must price products such that it covers the production cost, company overheads costs, and offers suitable profits.

By conducting qualitative and quantitative market intelligence study, our experts have figured out some of the key product pricing strategies that can be used while setting the price for a new product. Gather detailed insights into these pricing strategies in our latest blog.

Competitive pricing analysis

Competitive Pricing Analysis Helped a Retail Company to Boost Sales and Enhance Profit Margins by 19%

Competitive Pricing Analysis for the Retail Industry

Today, retailers use a variety of pricing strategies depending on their unique business goals and objectives. However, for retailers to succeed in the long-run, it is important to have the right pricing strategy. Also, retailers need to constantly monitor competitors’ pricing structures and set product prices based on the current market demand. This is where the real power of a competitive pricing analysis comes in. This success story explains how our competitive pricing analysis solution helped a retailer gain a competitive advantage in the market.

Request a FREE proposal to know how our competitive pricing analysis can help you efficiently price your products to yield maximum profits.

Business Challenge

The client is a retailer based out of Canada. With the rising market competition and unexpected market fluctuations, the client faced difficulties in efficiently pricing their products. Also, as the product price largely influenced customers’ buying behavior in the Canadian retail market, the client was finding it challenging to dynamically adjust prices for their products according to the current market demand and competitors’ pricing structures. As such, they approached the experts at Infiniti Research to leverage their expertise in offering competitive pricing analysis.

By leveraging Infiniti’s expertise in offering competition based pricing analysis, they also wanted to:

  • Analyze pricing strategies of the top retail companies in Canada and set prices for their products accordingly.
  • Respond faster to their competitors’ actions and better position their company in the Canadian retail market.
  • Attract price-sensitive and retain valuable customer segments.
  • Measure customers’ sensitivity to price changes and identify the price gap with the competitors.
  • Analyze how their competitors set prices for their products according to the perceived value of the product.

Deciding the right ‘price’ for a product is a challenging task for companies. Are you finding it challenging too? If yes, our competitive pricing analysis can help. Contact us today to leverage our competitive pricing analysis solution!

Solutions Offered

The initial phase of the competitive pricing analysis engagement involved conducting a competitive intelligence study. This phase of the engagement helped the client to analyze the competitive landscape as a whole through a holistic understanding of their competitors’ product/service offerings and technology/innovation strategies.

The next phase of the competitive pricing analysis engagement involved a competitive benchmarking analysis, where the experts compared the client’s pricing strategies with that of their competitors. This phase of the competitive pricing analysis helped the client to understand prices for similar products in the Canadian retail market and change their product prices accordingly. Our solutions even helped the client to measure customers’ sensitivity to price changes and identify the price gap with their competitors.

Finally, our experts conducted a demand forecasting study, where they analyzed the potential demand for the client’s products in the market. By understanding the market demand for their products, the client was able to revamp their pricing structures based on the market demand.

Results Obtained

The insights obtained from Infiniti’s competitive pricing analysis solution helped the client to competitively set prices for their products. This helped the company to control the competition by preventing loss of market share and customers to their competitors. Also, Infiniti’s competitive pricing analysis solution helped the client to keep their customer base stable and drive business growth. Furthermore, by employing dynamic pricing strategy, the client was able to compete better in the Canadian retail market and maximize profits with each customer.

Infiniti’s competitive pricing analysis helped the retail company to drive sales and this subsequently helped them to enhance profit margins by 19% in one year.

Competitive Pricing Analysis

Aligning prices with market demand and competition doubles revenue for companies. Our competitive pricing strategy can help businesses achieve this objective. Request for more info!

Competitive Pricing

4 Reasons Why Your Product Pricing Strategy Needs an Update

Setting competitive prices for your new or existing products and services can be challenging. If you set prices for your products or services too high, you’ll miss out on valuable sales. Conversely, if you set prices too low, you’ll miss out on valuable revenue. Also, providing excessive discounts can hinder a company’s profitability. In this context, it becomes vital for businesses to be proactive about identifying when and what changes you need to make to stay ahead of the competition.

So, with today’s consumers and businesses alike demanding more for less prices, how do you analyze whether your product pricing strategy needs an update? In this article, our experts have explained the 4 major reasons why businesses must revamp their new product pricing strategies to gain a competitive advantage.

A Company’s inability to efficiently price a new product can degrade the value of the brand and lead to a price war. However, revamping new product pricing strategies to meet the market demand can become a competitive advantage. Request a FREE proposal today!

Reasons Why Businesses Must Leverage New Product Pricing Strategies

#1: Company’s lack of accurate competitive pricing data

In today’s competitive marketplace, constantly monitoring and benchmarking against the competition is becoming crucial for businesses to capitalize on new market opportunities. Businesses that are still employing traditional methods for manual data collection can no longer gain a competitive advantage as manual data collection is highly time-consuming. Hence, it’s high time for organizations to revamp their new product pricing strategies and proactively respond to the competitors’ pricing strategies by efficiently tracking their new product pricing strategies and models.

Competitive pricing strategy can help businesses in this context. By leveraging competitive pricing strategies, businesses can make changes in their pricing strategies to meet the market competition and capitalize on new market opportunities.

#2: Inability to understand price elasticity

Understanding price elasticity helps businesses to analyze how customers’ respond to the price fluctuations in the market. Also, as different products and services have distinct price elasticities, businesses need to understand how customers’ react to the price changes in the market. Also, analyzing past sales data and conducting new product pricing segmentation can help businesses in setting competitive prices. Companies that fail in doing so need to revamp their pricing strategies to stay competitive in the marketplace.

New product pricing strategies work best for these brands looking to understand the price elasticity for a product or service.

With our expertise in formulating new product pricing strategies for various global giants, we can help you to estimate the accurate prices of your products or services and determine if it meets your consumers’ expectations. CONTACT US to know how our new product pricing strategies can help your business.

#3: Inability of value-based pricing strategy model

A company’s inability to adapt with value-based pricing strategy model can prove to be costly. Also, the lack of a value-based pricing strategy model subsequently impact the company’s sales rate and increases customer churn. Hence, companies that lack a value-based pricing strategy or new product pricing strategies may lose sales to competitors.

In this instance, businesses realize the real importance of revamping their new product pricing strategies. By leveraging new product pricing strategies, businesses can satisfy customers’ demands and boost customer loyalty.

#4: Employing an overly simplified new product pricing model

In today’s technology-driven business world, using traditional pricing strategies and models can longer help businesses. Gone are the days when companies leveraged cost-plus pricing by relying solely on the cost of production. It’s high time for businesses to leave behind traditional pricing models and take into consideration factors including seasonal fluctuations, competitor pricing, and product value while setting prices.

By leveraging Infiniti’s new product pricing strategies and solutions, businesses can efficiently tackle these challenges and competitively set prices for their new products and services.

Product pricing strategies for a new product

NEW PRODUCT PRICING SRATEGIESWant to know the right product pricing strategies to follow to efficiently price your new product or service? Read the article here on new product pricing strategies.

Pricing a New Product: The Right Product Pricing Strategies to Follow

Request for more info to know other benefits of leveraging our new product pricing strategies and solutions.

Penetration pricing strategy

Infiniti’s Penetration Pricing Strategy Helped a Consumer Electronics Company Achieve 22% Increase in Market Share

Penetration Pricing Strategy for a Consumer Electronics Company

With a large number of consumer electronics products being introduced every year, companies in the consumer electronics market are facing difficulties to increase market share and sales volume for their products. Also, as pricing largely impacts customers’ buying behaviour, it becomes vital for consumer electronics companies to competitively price their products. However, for companies that are new to the market, it is even vital to introduce some introductory offers to set up their customer base in a particular market. This is where penetration pricing comes in. Penetration pricing strategy helps businesses gain sales traction. This also helps businesses to increase market share.

Penetration pricing strategy helps businesses to lure customers away from established competitors. Request a FREE proposal to know how our product pricing strategies can help your business to achieve maximum market share within a short span of time.

Business Challenge

The client is a consumer electronics company in Europe. The client was new to the European market. As the European consumer electronics market was highly saturated, the client was facing difficulties in competitively pricing their products. The client even faced difficulties to lure customers’ attraction, build brand loyalty, and generate demand for their products.Therefore, they approached Infiniti Research to leverage their expertise in formulating a penetration pricing strategy. With Infiniti’s price penetration strategy, they also wanted to analyze the pricing strategies adopted by competitors and devise an appropriate penetration pricing strategy to gain market share and attract customers.

By leveraging Infiniti’s penetration pricing strategy, the client wanted to achieve the following:

  • As pricing plays a major role in customers’ buying behavior, the client wanted to leverage penetration pricing strategy to build customer base quickly by selling products at a lower price. By building a better customer base, the client wanted to enhance their sales rate.
  • As the client was new to the European consumer electronics market, they were facing challenges in capturing market share. With Infiniti’s penetration pricing strategy, the client was looking to provide introductory discounts to customers and capture maximum market share.
  • With Infiniti’s penetration pricing strategy, they also wanted to eliminate the market competition by offering products at a lower value compared to their competitors.
  • With Infiniti’s penetration pricing strategy, the client also wanted to create a mass market for their products and establish themselves as market leaders.
  • With Infiniti’s penetration pricing strategy, they further wanted to measure customers’ sensitivity to price changes and identify the price gap with their competitors.

CONTACT US to know how our penetration pricing strategy can help your business to formulate an efficient pricing strategy for your business.

Solutions Offered and Value Obtained

The experts at Infiniti Research followed a four-phased approach to formulate an efficient penetration pricing strategy for the client.

Conducted a thorough market pricing analysis – The experts at Infiniti Research also analyzed the European consumer electronics market players and their pricing strategies. The factors such as competitors’ product offerings, pricing strategies, market position, strengths, and weaknesses were considered during the analysis.

Analyzed the target audiences – The experts analyzed the needs and demands of the client’s target customers. The experts also analyzed customers’ buying behavior, customers sensitivity to price changes in the market. They also analyzed how consumers’ reacted to new product launches in the market.

Analyzed competitive landscape – The experts analyzed the top five competitors of the client. They further analyzed the structure of their pricing, discounts, and their market share.

Created a pricing strategy and execution plan – Based on the insights obtained, the experts at Infiniti Research formulated a pricing strategy for the client. The formulated pricing strategy plan acted as a blueprint that helped the client to efficiently price their products to gain maximum market share.

Results Obtained

With Infiniti’s penetration pricing strategy, the client was able to create a mass market for their products in Europe. They were also able to build a better customer base and achieve a high market share. By offering products at a lower price compared with their competitors, the client was able to surpass the competition. Infiniti’s penetration pricing strategy helped the client to enhance brand loyalty. Furthermore, it helped them to sucessfully establish their market presence in the European consumer electronics market.

Also, by leveraging Infiniti’s penetration pricing strategy, the client was able to:

  • Grow their market share by 22% in the course of one year
  • Capture customer traction by offering products at lower prices
  • Build customer and brand loyalty

For a new venture, figuring out how to price your products or services is highly challenging. Infiniti’s penetration pricing strategy can help you efficiently tackle this challenge. Request for more information to gain more insights into our services and learn how our penetration pricing strategy can help you achieve high market penetration rates quickly.

What is penetration pricing strategy?

Penetration pricing strategy is a business process in which the prices of products are initially kept low to reach a wide fraction of the market. This also helps businesses attract customers towards their brands and also outpace the market competition. Furthermore, penetration pricing strategy stimulates market growth and helps companies capture maximum market share for their products or services.

Advantages of penetration pricing strategy

  • Helps businesses to capture maximum market share in a short time
  • Enhances brand loyalty and also brand awareness
  • Helps companies gain a leading edge in the new or existing market compared with competitors
  • Helps achieve higher market penetration rates quickly
  • Encourages word of mouth marketing and also enhances customer experience

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competitive pricing strategy

Infiniti’s Competitive Pricing Strategy Elevates Sales and Profit Margins for a Canadian Fast Food Company

Competitive Pricing Strategy for a Fast Food Company

Today, businesses use a variety of pricing strategies depending on their unique business goals and objectives. However, in today’s competitive marketplace, it is important to have the right pricing strategy to maximize sales and profits. Also, businesses need to constantly monitor competitors’ pricing strategies and plans in order to have a competitive advantage in the market. This is where the real power of competitive pricing strategy comes in. Major food and retail companies are considering competitive pricing strategies to price their products. This success story explains how our competitive pricing strategy helped a fast food company gain a competitive advantage in the market.

Deciding the right ‘price’ for a product is a challenging task for companies. If you are facing difficulties in pricing your products or services, our experts can help. Request a FREE proposal to know how our competitive pricing strategy will help you efficiently price your product to yield maximum profits.

Business Challenge

The client is a fast food company based out of Canada. As they were new to the Canadian fast food market, they faced difficulties in efficiently pricing their products. Also, the client noted that Canadian customers were very selective regarding purchases due to their knowledge of the monetary value of products. The client, therefore, was facing difficulties in competitively pricing their products according to the current market demand and in attracting new customers. They approached Infiniti Research to leverage their expertise in offering competitive pricing strategy solution.

With Infiniti’s competitive pricing strategy solution, the client also wanted to:

  • Identify what similar fast food companies are charging for their products and set prices according to current market demand
  • Respond faster to their competitors’ actions and better position their company in the Canadian fast food market.
  • Attract customers who are price sensitive and increase the customer satisfaction level
  • Compete much better in the Canadian fast food industry and maximize profits with each price change.

Solutions Offered and Value Delivered

The experts at Infiniti Research conducted a four-phased approach. This involved conducting a thorough Canadian market analysis, analyzing the client’s target audiences, identifying direct and indirect competitors, and devising a pricing strategy and execution plan. As the client was new to the Canadian fast food market, the experts recommended the client to provide an introductory offer and discounts to attract customer segments.

With the insights obtained, the experts helped the client to decide competitive prices for their products. This helped them attract new customer segments. Also, the insights obtained from Infiniti’s competitive pricing strategy engagement helped the client implement a flexible pricing strategy to adapt to the unexpected price fluctuations in the market. Furthermore, providing introductory offers and discounts helped the fast food company to attract new customers.

The client was able to exceed their revenue expectation and gain a competitive edge in the Canadian fast food market within one year of entering the new market. Moreover, with Infiniti’s competitive pricing strategy engagement, the company was able to achieve average savings of 27.3%.

Aligning prices with market demand doubles revenue for companies. Wondering how? CONTACT US to know how our competitive pricing strategy can help you align your products’ prices with the market demand to maximize profitability.

Advantages of Competitive Pricing  

Respond quicker to competition

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competitor analysis

Transforming Production Processes and Increasing Market Share by 37% for a Food Packaging Company – Infiniti’s Latest Competitor Analysis Engagement

Competitor Analysis for Food Packaging Company

With technological progression and market advancements, the food packaging industry continues to evolve. Moreover, the trends in packaging such as the introduction of sustainable packaging practices, convenient on-the-go packaging, clean labels, and healthy choices have gradually increased the number of new entrants into the European food packaging market. This has made it vital for existing players in the European food packaging market to keep track of their competitors’ plan and actions and refine their existing business models to achieve maximum profitability. Therefore, companies are partnering with firms like Infiniti Research to leverage their expertise in offering competitor analysis solution.

Do you know what your shortcoming are when compared to your competitors? If not, our experts can help you identify your strengths and weaknesses compared with your competitors. Request a FREE proposal today!

Business Challenge

The client is a food packaging company based out of Europe. The entry of new players drastically increased the competition in the European food packaging market. The client, therefore, was facing difficulties in competing with other major players, in terms of cost, quality, and capabilities in providing innovative packaging offerings for customers. Moreover, they were losing customers and market share to their competitors due to their inability to competitively price their products. This compelled them to reduce the price for their products, which subsequently resulted in a loss in profit margin by 7%.

Therefore, they approached the experts at Infiniti Research to leverage their expertise in offering competitor analysis solution. By leveraging Infiniti’s competitor analysis solution, the client wanted to explore ways to stay competitive in the market by distinguishing market disruptions, analyzing competitors, and developing strategic business plans.

By leveraging Infiniti’s competitor analysis solution, the client also wanted to tackle several other market challenges:

  • With the increasing demand for environmental-friendly packaging materials in Europe, the client was facing difficulties in adapting to the evolving market demands. With this, they were losing market share to their competitors who had already adopted environmental-friendly packaging strategies. Therefore, with Infiniti’s competitor analysis solution, the client wanted to analyze their competitors’ offerings in direct comparison to theirs and focus on enhancing their business processes.
  • The client noted that their competitors have already leveraged automation solutions in their business operations. With Infiniti’s competitor analysis solution, the client wanted to identify the technologies leveraged by their competitors. By doing so, they also wanted to adapt to the evolving technologies to maximize uptime and enhance their operations.
  • The client’s unstructured approach to marketing and sales resulted in huge capital losses for the company. By closely analyzing the strategies adopted by their competitors, the client wanted to refine their existing marketing models and devise marketing campaigns that drive maximum sales.
  • The client’s key competitors were offering discounts and other introductory offers to customers. With this, the client was compelled to reduce prices for their packaging materials. Therefore, by leveraging Infiniti’s competitor analysis solution, they wanted to analyze the pricing strategies followed by their competitors and competitively price their products.

Our tailored and intelligent solutions empower our clients to make an informed business decision and maximize profitability. CONTACT US to learn more about our services their benefits for your business.

Solutions Offered and Value Delivered

Our experts followed a detailed four-phased competitor analysis approach to help the client tackle the industry challenges. The initial phase of the competitor analysis engagement involved identifying businesses offering similar products and services in the European packaging industry. The next phase of our competitor analysis engagement focused on identifying the client’s key competitors’ customer base. In the third phase of the competitor analysis engagement, the experts focused on evaluating the strengths and weaknesses of the client in comparison to their competitors. The last phase of our competitor analysis engagement involved conducting a competitive benchmarking analysis, competitor mapping, and also identifying the marketing approaches employed by the client’s competitors.

The insights obtained from Infiniti’s competitor analysis solution helped the client to gain detailed insights about their end-customers, current market position, and their key competitors. Understanding the needs and demand of their target customers helped the client to innovate their product offerings according to their customers’ requirements. By gaining detailed insights into their competitors’ key strategies and marketing approaches, the client was able to devise well-informed business plans to tailor their product offerings. Also, the experts at Infiniti Research recommended the client to apply automation solutions in their production process. This helped the client to enhance their production efficiency and better manage workflow.

Infiniti’s competitor analysis solution also helped the client to understand their competitors’ pricing strategies and make constant changes in their pricing plans. With Infiniti’s competitor analysis solutuon, the client was also able to balance quality and growth. Furthermore, Infiniti’s competitor analysis solution helped the packaging company to better allocate resources and enhance their market share by 37% within the course of one year.

CS info

Our competitor analysis solution can help your company gain a leading edge in the market. Want to know how? Request for more info!

Importance of Competitor Analysis for Packaging Industry

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Our competitor analysis solution helped a banking company assess key competitors and devise an efficient strategy to establish themselves in the European market. Want to know the approaches underteken by the experts at Infiniti Research to help the client? Read the complete success story below.

Competitor Analysis for a Leading Banking Sector Client Helps Assess Key Competitors and Devise an Effective Strategy to Establish Themselves in the European Market

Competitive Pricing

Competitive Pricing Analysis Helped a CPG Company Surpass the Competition by Regulating and Benchmarking their Pricing Strategy

Despite a growing economy, consumer packaged goods (CPG) brands in Canada are reeling under the pressure from shifts in customer behaviour and buying patterns. Also, with the advent of e-commerce, it has become easier for customers to easily compare prices from various vendors. With this, developing accurate pricing strategies have become imperative for companies in the CPG industry. Furthermore, continuously monitoring the price changes employed by competitors and constantly making changes in pricing strategies are becoming vital for CPG companies to drive profitability. This is where companies realize the importance of leveraging competitive pricing analysis.

Wondering how employing competitive pricing analysis will help you better price your products and boost your company’s bottom line result. Request a FREE brochure to gain more insights into our services portfolio and to know how our solutions will help you monitor competitors’ pricing strategies and outpace the global competition.

Business Challenge

The client is a CPG company based out of Canada. As the client was new to the market, they were facing difficulties in competitively pricing their products. Also, the client lacked data on their competitors’ pricing and promotional strategies. This made it difficult for them to build strategic pricing plans to support their product’s pricing and promotional strategies. They even ignored changes in cost, competitive environment, and in customer’s preferences. With this, the company struggled with meeting their sales target for the initial year. Also, they were losing their customers and market share to their competitors. The client, therefore approached Infiniti Research to leverage their expertise in offering competitive pricing analysis solution.

Other challenges the client was looking to address by leveraging Infiniti’s competitive pricing analysis were:

  • The client set prices for their products based on their manufacturing and distribution costs. They did not analyze their customers’ perceptions of value. This gradually resulted in prolonged sales cycles and affected the company’s profits. With Infiniti’s competitive pricing analysis, they wanted to analyze how their competitors set prices for their products according to the perceived value of the product.
  • The client was facing difficulties in analyzing unexpected price fluctuations in the market. With Infiniti’s competitive pricing analysis, they wanted to monitor the prices employed by their competitors.
  • With Infiniti’s competitive pricing analysis, they wanted to measure customers’ sensitivity to price changes and identify the price gap with their competitors.
  • The client realized that pricing is one of the main factors behind customers’ purchasing decision. By leveraging Infiniti’s competitive pricing analysis, they were able to accurately price their products and meet the fluctuating market demand.

Our Approach

  • The initial phase of competitive pricing analysis engagement involved gathering detailed insights into client’s key competitors in the Canadian CPG market. This also involved analyzing the niches they deal with, pricing strategy that they follow, their profit percentage, and their growth rate.
  • The second phase involved identifying the explicit cost (the cost incurred by the company for making all the physical payments and the contractual obligations) and implicit cost (costs on which the firm waives any opportunity of earning a profit from the use of its internal resources by third parties). This helped the client to understand the total cost of ownership of the product.
  • The third phase of this competitive pricing analysis engagement involved identifying customers’ sensitivity to price changes and developing effective strategies to meet their demands.
  • The final phase involved analyzing competitors’ strengths and weaknesses to help the client differentiate themselves by offering products and services that fill gaps that their competitors have not addressed.

Results Obtained

With Infiniti’s competitive pricing analysis solution, the client was able to competitively price their products relative to the competition. Also, Infiniti’s competitive pricing analysis helped the client to adapt to dynamic pricing, which allowed them to compete much better in the industry and maximize profit with each pricing change. This helped them surpass the competition and achieve their annual sales target. The competitive pricing analysis also helped the client to develop flexible pricing strategies and respond to unexpected price fluctuations in the market. As a result, they were able to enhance their profit margin by 23%. Furthermore, the solutions helped the client to enhance customer experience and keep their customer base stable.

The competitive pricing analysis solution also provided benefits that helped the client:

  • Fine tune their pricing strategies and profitably price their products.
  • Develop robust competitive pricing strategies
  • Compare the prices of the competitors and identify opportunities to differentiate their products and services

CaptureWhat is competitive pricing analysis?

Competitive pricing analysis refers to pricing the products or services relative to competitors’ prices for similar products/services. Competitive pricing analysis empowers businesses to regulate the competition by preventing loss of consumers and market share to the competitors. By employing a competitive pricing strategy, businesses can competitively set prices for their products/services according to the market demand. Furthermore, it helps companies to dynamically adapt to competitors pricing strategy and gain a leading edge in the market.

What are the four types of pricing strategies?

Let’s have a look at some of the major pricing strategies implemented by organizations:

  • Competitive pricing – setting a price based on what the competition charges
  • Value-based pricing – setting a price based on how much the customer believes what you’re selling is worth
  • Price skimming – setting a high price and lowering it as the market evolves
  • Penetration pricing – setting a low price to enter a competitive market and raising it later

Interested to know more about our competitive pricing strategy and their benefits for your business? Contact us today!

Competitive landscape analysis

Realizing Savings of 23% for a Financial Services Provider – Infiniti’s Competitive Landscape Analysis

The financial services industry in the US is poised to experience unprecedented changes as it moves towards digitalization. The digitalization of financial services along with adoption of cloud computing, smart devices, and data accessibility have steered the financial service industry to the brink of disruption. And, as the challenges in the financial services industry continue to escalate, it becomes imperative for companies in the financial services industry to evaluate and improve their services to keep up with the fast pace of changes in the industry. Moreover, with the entry of new players in the industry, the domestic markets have become saturated. As a result, financial service providers are, therefore, turning their attention to international markets to increase their market shares, revenues, and profits. To avoid being left behind, it becomes imperative for companies to leverage competitive landscape analysis solutions.

Failure to track potential risks can be a major threat to growing businesses. Request for a FREE brochure to learn more about our services portfolio and importance of our competitive landscape analysis engagement for tracking threats and opportunities in the market.

Business Challenge

The client is a renowned financial service provider based out of the United States. The company was established in 1989. With many financial service providers vying for a pole position in the US market, the client approached Infiniti Research to uncover new market opportunities and analyze the competitive landscape in international markets. The client wanted to evaluate the competitive landscape in Brazil, China, Russia, and South Africa, featuring leading player profiles and their main service offerings. Furthermore, our client sought to understand the market size and determine growth opportunity in each country.

Other challenges faced by the client were:

  • With a number of competing financial service providers offering the same services, the client was facing difficulties in understanding the competitive landscape. With the aid of Infiniti’s competitive landscape analysis, the client wanted to gain deep insights into their competitors’ service offerings to evaluate their position in the target market.
  • As the client was looking to expand their operations across Brazil, China, Russia, and South Africa regions, they wanted to understand the requirements and the demands of the people in those regions to serve them better. With Infiniti’s competitive landscape analysis solution, they also wanted to understand the service offerings and pricing strategies of key competitors in the target countries.
  • In today’s customer-oriented business world, the client realized the need to differentiate their business from other major players in the market. With the aid of competitive landscape analysis, the client wanted to keep tabs on the competition and enhance business outcomes.
  • By leveraging Infiniti’s expertise in offering competitive landscape analysis, the client wanted to gather enough data about the international markets and required recommendations from the experts to mitigate barriers to entry in foreign markets.

Solutions Offered and Value Delivered

To help the client tackle the above-mentioned challenges, the experts at Infiniti Research leverage competitive landscape analysis engagement. The competitive landscape analysis engagement followed a 3-phased approach.

  • The initial phase of the competitive landscape analysis approach involved gathering data on competitors’ key service offerings and pricing strategies. Our experts also conducted an analysis of the leading international market players to get an initial sense of most-effective service offerings as well as market drivers and trends.
  • After analyzing the leading players and their service offerings, the next step involved identifying the right business partners for the client and the best route to enter the target markets.
  • The final phase of the competitive landscape analysis engagement involved the creation of a competitive matrix and recording the data gathered. This helped the client to rank themselves compared with their competitors. Also, they were able to analyze the key business areas where they needed to focus more.

Infiniti’s competitive landscape analysis solution helped the client to validate their internal perspective for international growth and helped them realize the real potential of select markets. The competitive landscape analysis further helped the client to prioritize the next steps in their international expansion, assign resources, and fine-tune their business strategy.

CaptureAlso, with Infiniti’s competitive landscape analysis engagement, the client was able to better benchmark their market position relative to their competitors and develop strategies to maximize opportunities and mitigate threats. This further helped the client to monitor competitors’ USPs and adjust their strategy to attract new customers. In addition to improving customer experience, with Infiniti’s competitive landscape analysis solution, the client was able to outperform our expectations with a 23% increase in revenue within 8 weeks.

Want to find out what your competitors are up to in the international markets? Infiniti’s competitive landscape analysis will help you gain a leading edge in the market. Request a FREE proposal to know how.

What is competitive landscape analysis?

Whether you’re running a start-up or a global company, it’s imperative to beat your competition to better position your business. To do so, you’ll need a strategic business plan and insights about your competitors and industry. This is where a competitive landscape analysis comes into play. Competitive landscape analysis can help your company gain insights into the current industry landscape and forecast plans of your key competitors.

HOW COMPETITIVE LANDSCAPE ANALYSIS CAN HELP_ (2)

CONTACT US to leverage our competitive landscape analysis solution.

IR28

Top Pricing Strategies in Marketing You Cannot Miss Out On

Deciding how much to charge for a product or service requires more thought than merely calculating the costs and adding a mark-up.

Pricing strategies and methods often prove to be extremely complex and intense as it includes a number of calculations, research work, risk-taking ability, and understanding of the market and the consumers. The top management of the company considers a number of factors before pricing a product. This includes the ability of a consumer to pay for the products, the segment of the product, the action of the competitor, the conditions of the market, the production and the raw material cost or the cost of manufacturing, and the margin or the profit margins. An effective pricing strategy helps to identify competitive prices for a product or service. Adopting a competitive pricing strategy also depends on whether the company wants to achieve operational efficiency or product leadership. If the company’s value proposition is operational efficiency, then they need to follow a highly competition based pricing tactic. On the other hand, if the company’s value proposition is product leadership or customer intimacy, the offerings need to be priced on the higher end when compared to similar products in the market. This gives the customers a feeling of uniqueness and loyalty to the brand. This blog from Infiniti Research curates some of the top pricing strategies in marketing that our industry experts feel are most relevant in today’s business scenario.

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