LONDON–(BUSINESS WIRE)–The growing food and beverage industry has witnessed many changes over recent years, which have led to increasing competition and the need for competitive pricing and marketing initiatives for industry players. It is imperative for food and beverage industry players to gain a comprehensive understanding of their competitors’ pricing strategies, market share, and business performance. Infiniti’s competitor analysis engagement enables companies to understand their competitors’ business strategies and take preemptive initiatives to stay ahead of the curve.
To leverage Infiniti’s competitor analysis solution for unprecedented insights into competitors’ strategies, and always keep abreast of changing market dynamics, request a free proposal.
“With the food and beverage industry evolving rapidly, businesses must constantly assess market changes and identify new initiatives undertaken by competitors. Also, business leaders must find new ways to differentiate their brand in the crowded marketplace,” says a food and beverage industry expert at Infiniti Research.
The client, a food and beverage industry player based out of Europe, struggled to meet their sales target and faced huge losses due to their inefficient approach to product marketing. Consequently, the client lost ground to competitors, and their customer attrition rate increased. The food and beverage company also had difficulties understanding market trends and changes within industry developments. Therefore, the client sought to approach Infiniti Research to leverage our expertise in offering competitor analysis solutions to analyze the strategies adopted by their competitors. During the nine-week engagement, the food and beverage industry players wanted to understand their market position compared with their competitors, identify competitors’ strengths and weaknesses, and evaluate competitors’ pricing strategies.
Infiniti’s competitor analysis experts developed a four-phased approach to assist the food and beverage industry player, which included the following:
- Gathering insights regarding industry trends and developments in the client’s region, using market research study
- Analyzing competitors’ marketing models
- Evaluating various factors impacting product prices and comparing the client’s pricing strategy with competitors through a pricing strategy engagement
- Comparing client’s product offerings with competitors using a competitive benchmarking analysis
By leveraging Infiniti’s competitor analysis engagement, the food and beverage industry client understood their strengths and weaknesses compared to their competitors and identified problematic areas. Additionally, the comprehensive analysis of their competitors’ strategies enabled the client to gain a…