3 Ways Competitor Analysis Frameworks Help Companies to Identify Up- and Cross-Selling Opportunities | Infiniti Research
LONDON--(BUSINESS WIRE)--Dec 7, 2018--A leading market intelligence company, Infiniti Research, has announced the completion of their latest article on the .
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Benefits of a competitor analysis framework for the packaging industry. (Graphic: Business Wire)
The market landscape for the packaging industry is highly favorable for larger suppliers. However, the same cannot be said for smaller companies since they have to struggle when it comes to widening their presence in the market. Large suppliers account for a major portion of market share and can easily undercut their products without affecting their overall profit margins. In such a scenario, small companies need to implement competitor analysis tools to survive and excel in the market. Developing a competitor analysis framework will help packaging companies to adjust their prices according to industry standards, boost brand loyalty, and identify up- and cross-selling opportunities.
“A competitor analysis framework assists companies in the packaging industry to adjust their prices according to market standards,” says an expert from Infiniti Research.
Benefits of a competitor analysis framework:
Adjust your prices accordingly
The packaging industry has become highly competitive. Companies in the industry need to be well informed of their competitors’ pricing strategies to withstand the competition. Even the slightest difference in price can turn their loyal customers into competitor’s new acquisition. A precise competitor analysis framework will help companies to gain better insights into the health of their business and analyze the buying behavior of customers. This will eventually increase the retention rate of customers. Want to devise a competitor analysis framework for your organization,.
Encouraging your brand loyalty
Companies are making consistent efforts to strengthen their relationships with customers. A customer analysis framework can prove beneficial in this context by giving a comprehensive view of their competitors’ offerings. This will help companies to analyze their services better and offer their customers with a better experience. to know how Infiniti Research’s solutions can help you build a better brand image.
Identifying up and cross-selling opportunities
Cross-selling is an effective way of winning the price war. The packaging industry possesses ample potential for up- and cross-selling. Companies can analyze the choices of their customers with the aid of customer analysis tools and pair their products accordingly. This will enhance the cost-effectiveness of businesses and provide customers a better deal. to know how a competitor analysis framework can help you boost market presence.
About Infiniti Research
Established in 2003, 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:
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INDUSTRY KEYWORD: MANUFACTURING PACKAGING COMMUNICATIONS MARKETING
SOURCE: Infiniti Research
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PUB: 12/07/2018 08:21 AM/DISC: 12/07/2018 08:21 AM