Market Analysis – An Essential Homework to Ace the Tests of the IT Industry
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 […]READ MORE >>
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.
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 market analysis and how your company can create effective marketing strategy out of it:
- Industry 4.0 – Revolutionizing the Manufacturing Industry
- Top 3 Technology Trends in the Healthcare Industry
- Market Assessment Engagement to Build an Effective Business Plan for A Service Solution Provider