In the wake of sustainability challenges, government organizations, consumer groups, and environmentalists have been continuously voicing their concerns regarding the waste generated by the packaging industry.
Leading players in the packaging industry, especially the packaging machine manufacturers, face a multitude of challenges including – the creation and maintenance of value proposition to acquire new prospects and the design and development of innovative products to cater to the changing customer preferences.
In today’s competitive business landscape, packaging machine manufacturers are striving to develop better machinery to appeal to the continually changing customers’ preferences. Moreover, packaging machine manufacturers operate in an environment where the reduction of the packaging materials acts both as a major regulatory requirement and a market demand. Companies operating in the packaging industry must adapt to the fact that sustainability has become an essential design criterion for packaging materials and systems that depend on their machines. The other challenges faced by them include – the high cost of packaging materials, lack of skilled labor, and the lack of knowledge on ways to market and allocate resources.
Business Issues
- The client: A packaging machinery manufacturer
With an objective to build, understand their business, and set themselves apart from their competitors, the client – a leading player in the packaging industry – approached Infiniti to engage in a market intelligence study that would help them to assess the impact of BI tools on business planning and decision-making. The primary objective of this market intelligence study was to find solutions to the key business challenges faced by the client which included – disparate data sources within and across all business units spread across geographies and manual planning.
How Can Market Intelligence Help Companies in the Packaging Industry?
The market intelligence needs of design firms, brand owners, and even packaging industry firms are dramatically different today than what it was a decade ago. It’s no longer good enough to gain insights into a brands’ position or recent design innovations.
In today’s environment, and going forward, attracting attention and being disruptive would not suffice in the long run. It’s more about analyzing market needs and delivering packaging solutions that cater to the market’s demand. Infiniti’s team of market intelligence experts help identify, analyze, and monitor market data to offer and recommend the best suitable solution to overcome your challenges.
Summary of our market intelligence solution
Client Journey
To help the client gauge numerous factors influencing their growth in the packaging industry and assess the overall brand perception, the market intelligence experts at Infiniti followed a strategic research approach. The approach included primary and secondary research methodology coupled with qualitative and quantitative data collection procedures. The experts also reached out to various stakeholders and stakeholders in the packaging industry.
Solution Benefits and the Business Impact
With the aid of Infiniti’s market intelligence engagement, the packaging machine manufacturer, obtained a holistic view of the entire market. Our solution also enabled them to answer concrete questions about – existing and potential customers segments and competitors in the market. The market intelligence solution even facilitated the extraction of raw data from disparate sources and their conversion into the information needed for accurate decision making.
The Future
With the growing demand for flexible and rigid packaging technologies, the current trends in packaging industry revolve around – retort packaging, PET packaging, and aseptic technology. The packaging machinery manufacturers will have to constantly look out for emerging trends in the packaging industry and invest in technology upgrades, new innovations, and BI tools to cater to the demands. However, the need of the hour is to innovate and tap into new market trends to fulfill the needs of the packing industry.
A must-read case study for strategy specialists and decision makers looking to develop an understanding of the packaging industry.
