Product Demand Analysis for the Consumer Electronics Industry
Globally, the market for consumer electronic products is expected to proliferate over the coming years. However, companies in the consumer electronics industry will still need to track key industry trends, opportunities, and potential threats to sustain a leading edge in a new market. Also, to succeed in today’s competitive marketplace, consumer electronics companies will need to focus on launching new products that meet the changing market demand. This is where companies realize the real power of leveraging product demand analysis.
Are you looking to analyze the demand for your product in a new or existing market? Our product demand analysis can help. Request a FREE proposal today!
Business Challenge
The client is a well-known consumer electronics company based out of Europe. With a multitude of new products being introduced in the consumer electronics market each day, the client faced challenges in gaining traction for their products. Also, the client’s previous product launches failed as they did not take into consideration the demand for similar products in the market.
Therefore, before launching their new product in the market, the client wanted to evaluate the demand for that product in Europe. Also, they wanted to evaluate the market potential for their new product by efficiently analyzing the demand.
To do so, they approached the experts at Infiniti Research to leverage their expertise in offering product demand analysis.
With Infiniti’s product demand analysis solution, the client also wanted to:
Assess their ability to compete in the market – With Infiniti’s product demand analysis, the client wanted to identify the market size and niche market segments in Europe to promote their products. Also, they wanted to evaluate how efficiently they could compete in the marketplace in terms of product price and capability.
Evaluate the growth potential – With Infiniti’s product demand analysis solution, the client wanted to evaluate their long-term growth. Also, they wanted to forecast the average sales potential for their new product by analyzing the demand and market potential for similar products in the Canadian consumer electronics market.
Our product demand analysis can help you evaluate the success rate of your new product and understand how well they will compete in the marketplace. Contact us today!
Solutions Offered
By leveraging our expertise in offering market size analysis solutions, we helped the client to estimate the market size by analyzing factors such as sales volume, the potential number of customers, and average sales revenues.
Also, as a part of the product demand analysis, our experts conducted a competitor analysis to monitor the client’s key competitors’ new product innovations and understand similar product’s win rate in the market. This phase of the product demand analysis helped them to understand how efficiently they could compete with their counterparts in terms of their product prices and capabilities.
Furthermore, by conducting customer needs assessment, our experts helped the client to understand their customers’ demands and differentiate their product to meet the market demand. With Infiniti’s market potential analysis, the experts also helped the client to evaluate their long-term growth potential and understand their customer needs and requirements.
Results Obtained
With Infiniti’s product demand assessment, the client was able to evaluate the success rate of their new product and understand how well their new product will compete in the marketplace. Also, by understanding the customer needs and demands, they were able to incorporate certain changes in their product offerings to gain maximum market share. Furthermore, with Infiniti’s product demand analysis solution, the client was able to successfully launch their new product and realize savings of over 23% within two years of product launch.
Request for more information to gain insights into our product demand analysis and their benefits for your business.
