With increasing investments in market intelligence, do industry experts think that the time and resources they have put into such services have been useful? If so, how efficient is market intelligence for opportunity assessment in the industrial and manufacturing sector?
For strategy & business development stakeholders looking to develop effective market entry strategies for their products and services, keeping track of their key competitors and the state of the industry becomes crucial for expanding their businesses to niche markets. Traditionally, this practice has been defined as “market intelligence.” However, at present, the practice of collecting market intelligence has also expanded to include analytics and analysis, as they help in improving the business model of industrial and manufacturing companies. At its core, market intelligence services utilize numerous sources of information to create a broader picture of the company’s existing market space, customers, problems, competition, and growth potential for new products and services. Primary sources of raw data for such an analysis include surveys, sales logs, and social media.
In a recent global market intelligence survey, it was found that in a ranking of 20 industries including healthcare, media, consumer, IT, etc., the manufacturing and industrial sector ranked 14th in terms of its market intelligence capabilities. In our webinar, which included a 15-minute Q&A session, on how to leverage market intelligence to tap opportunities, our speakers focused on the best practices of procuring effective market intelligence services for key stakeholders in the industrial and manufacturing sector. According to Infiniti’s industrial experts, the current market is plagued by uncertainties, both globally and regionally. As a result, we feel that market entry and expansion decisions would require significant time and demand resources for complete success.
To help companies in the industrial and manufacturing sector reap the benefits of effective market intelligence services, Infiniti Research also provides expert advisory and strategic research services to large conglomerates to help them make informed business decisions. Our industrial and manufacturing clients have leveraged our unrivaled expertise globally as well as in MENA and APAC to improve ROIs successfully.
Here’s an insight into the top five questions that our speakers addressed
– What will drive the demand in the future?
– How to develop an understanding of market dynamics to make expansion or entry decisions?
– Greenfield or brownfield expansion
– Whether to set-up own infrastructure or engage channel partners
– What will customers accept?