Benefits of Market Intelligence Report
Effective utilization of the market intelligence report essentially fosters an informed decision-making process that is crucial to grow and survive in a competitive and dynamic market. The main objective of a market intelligence report is to offer a holistic view of the market, its ongoing trends, and factors that will either make or break the market. On a broader sense, the market intelligence report offers a SWOT analysis to a prospective client who is seeking to do business in an unfamiliar terrain. This analysis helps the client to consider the do’s and don’ts of a market and devise a cohesive and a foolproof strategy to tackle the vulnerabilities in the market. The analytical approach undertaken by the market intelligence experts gives insights into the thriving segments of the market, which subsequently helps in making investments with minimum or no losses. These insights also help in identifying the potential risks that might hamper business operations.
Automobile Industry in India
Owning a vehicle has ceased from being a matter of luxury to a dire necessity in India. Increasing urbanization is majorly boosting the buying power of the consumers; thereby, promoting the growth of the automobile industry in India. Innovative automotive manufacturers are proliferating the automobile industry in India to cater to the whims of car connoisseurs. Moreover, the improving buying power of the consumers is supplemented with an array of financial offerings in the form of car loans. This is prompting automobile sales to a great extent. In addition, the automobile industry in India offers lucrative prospects for foreign investments by virtue of the fact that India is improving on nine out of ten parameters when it comes to the ease of doing business.
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Predicaments Faced
In a bid to penetrate the APAC automobile industry, the client chose India to lay the foundation of their first APAC automobile venture. However, the automobile industry in India was functionally different from the regions where the client was already established. Customers’ preferences, automobile regulations, and the supply and distribution channels infrastructure dominating the automobile industry in India conflicted with the business strategy employed by the client. Therefore, the automotive manufacturer required a comprehensive overview of the nature of the automobile industry in India. This overview included the identification of both the negative and the positive factors that influence the growth of the automobile industry in India.
The Outcome
Infiniti was approached by the client to furnish a detailed market intelligence report on the automobile industry in India. While collating the market intelligence report, Infiniti’s experts undertook a systematic approach befitting the market environment and economy of India. The report analyzed the prospects of different regions in India where the client can do their business. The market intelligence report also considered a string of factors, based on which, Infiniti’s research experts collaborated with the automotive manufacturer to devise a cohesive and a fool-proof market strategy that is suited to the dynamics of the automobile industry in India. Some of the key insights offered are enlisted below:
- Customer preference: The automobile industry in India is mainly dominated by the likes and dislikes of the customers. The market intelligence report involved the use of techniques like surveys to elicit customer’s response to the existing products of the client. This gave essential directions to the automobile manufacturer to invent their product portfolio.
- Rules and regulations: This embodied the environmental regulations as well as other industry taxes that majorly influenced the pricing strategies related to the automobile industry.
- Economy: The market intelligence report offered a predictive analysis of the Indian economy to adjudge its capacity to foster sufficient business prospects for the client.
- Competition: Infiniti’s market intelligence report offered key insights into the competitive environment of the automobile industry in India. This majorly helped the client to identify relevant market opportunities, make accurate business decisions, and stay ahead of their competitors.
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