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The client is a frozen food packaging company based out of Europe. The entry of new players drastically increased the competition in the European frozen 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.
During the COVID-19 crisis, it is critical for companies in the frozen food packaging market to take calculative and well-executed measures to ensure business continuity in the long run. Request a free proposal to know how industry experts at Infiniti Research can help you plan and create comprehensive action plans to navigate the crisis. Request a FREE proposal here.
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 solution, 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 sales by 43% within one year.
For an in-depth market analysis on how COVID-19 will impact the frozen food packaging market and data-driven insights to plan your next moves, request more info here.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us