In today’s business environment, agility plays a pivotal role in helping businesses reach its pinnacle of expansion. Today, businesses are investing in their operations to enhance their offerings in the market and explore new markets. However, high investments and cost-cutting measures will neither help the organizations to penetrate new market segments “out of the blue” nor help businesses devise new offerings in the market. To venture into new markets, it is vital for every business to understand the existing market space and prevailing predicament influencing the market as a whole. For instance, in the case of the specialty chemicals industry, new competitors can come from overseas or from within the industry; and for the same, devising market entry strategies can help companies create a robust framework to structure thoughts and systematically uncover key information.
Infiniti’s market entry strategy helps clients enter and evaluate market attractiveness and map potential opportunities within the market space. Moreover, the client can gauge information on the types of technologies being involved and the future technologies that can be implemented. With the help of market entry strategy the client can also seek information on the presence of substitute products and their traction in the market.
The Business Challenge
A leading player in the chemical industry and a market leading supplier of specialty chemicals catering to the needs of manufacturing and industries sectors was facing challenges implementing a robust market strategy to tap potential opportunities. The primary objective of this engagement was to devise an effective market strategy plan to penetrate different markets and showcase their offerings in the market space. The company wanted to build a strong and distinctive identity among the competitors in the market.
Apart from the aforementioned challenges, the specialty chemicals supplier also wanted to gain an understanding of the product and pricing of the competitors and deploy an effective marketing strategy.
Our Approach
The specialty chemicals market landscape is diversified with the presence of numerous entrants in the market. To gain strategic insights into the specialty chemicals market landscape, the client approached Infiniti to understand the challenges and devise possible solutions to these challenges. Infiniti’s market entry experts also carried out a blended approach comprising of interviews with leading stakeholders in the specialty chemical space. The experts also compiled information from various proprietary resources such as news aggregators, media forums, and company websites to gain an in-depth understanding of the market space.
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Market Entry Strategy Solution Benefits
- Develop a robust SWOT analysis of the products and services
- Identify the product lines, brands, and variations of products available in the market
- Identify the barriers to entry and allocated adequate resources
- Identify the key players, their market shares, and the differentiating factors
- Understand the customer lines in terms of the distribution channels and the current financial situation
Benefits of Our Integrated Approach
In a span of eight weeks, Infiniti’s market entry experts helped the client identify the economic implications of entering a new market and sought ways to enter new markets that the company wants to enter. Also, the engagement brought into limelight the factors impeding the growth of the market and make informed business decisions.
