The European food packaging market has seen significant trends such as sustainable packaging practices and on-the-go packaging in recent years. These trends have led to an increase in new market entrants, consequently increasing the market's competitive level. Food packaging market players need to take initiatives to stay ahead of this rapidly growing market competition. They can achieve this by refining their existing business models and keeping track of competitors’ business strategies. Infiniti’s competitor analysis solution enables food packaging companies to evaluate competitors’ strategies and ensure their marketing approaches, pricing strategies, and other business operations are at par with key market players.
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Competitor Analysis Solution for a Food Packaging Market Client: Business Outcomes (Graphic: Business Wire).
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"Technological progression and market advancements have gradually increased the number of new entrants into the European food packaging market. This has made it vital for existing players in the European food packaging market to keep track of their competitors’ plan and actions," says a packaging industry expert at Infiniti Research.
The client, a food packaging company based out of Europe, witnessed a steady decline in customers and market share. Increasing competition in the European food packaging market and inability to price their products competitively led to the decline in market share and a 7% loss in profit margin. The client chose to approach Infiniti Research and leverage our expertise in offering competitor analysis solutions. With this engagement, the food packaging company sought to analyze their competitors and gain comprehensive insights from our experts to develop ideal business strategies. During the nine-week engagement, the food packaging market player also sought to address challenges such as the increasing demand for sustainable and eco-friendly packaging, the rise in automation of business operations, and losses caused by their unstructured approach to marketing, and the need for competitive pricing strategies.
Infiniti’s experts developed a comprehensive four-phased approach to assist the food packaging market client. The four phases were as follows:
Identification of businesses with similar offerings, and comparison with that of the client in the European food packaging market
Identifying the target group of customers to develop targeted and efficient marketing strategies
Comparing the client’s offerings with their competitors’ and evaluating the strengths, weaknesses, and gaps in the offerings
Identifying the marketing approaches employed by the client’s competitors, as well as conducting competitor mapping and competitive benchmarking analysis
By leveraging Infiniti’s competitor analysis solution, the food packaging company analyzed its customer base, competitors, key market players, and current position in the European food packaging market. This enabled the client to develop and promote products that addressed the unmet needs of their target customer group. They also developed data-driven business strategies by gaining insights into their competitor’s strategies and marketing approaches. Additionally, the food packaging market client applied the ideal automation solutions and enhanced their production efficiency and better-managed workflow. Infiniti’s solution also enabled the client to evaluate their competitors’ pricing strategies and develop new pricing plans accordingly. Lastly, the food packaging market player enhanced its market share by 37% within one year by allocating their resources better.
Speak to industry experts to gain insights into the European food packaging market and evaluate the benefits of our competitor analysis solution in this rapidly growing and competitive market.
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 analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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