The CPG industry is rife with new opportunities for business leaders who are ready to embrace analytics to drive change. It’s no surprise that more and more CPG companies are expanding analytical investments to tap into new market opportunities. But considering today’s competitive business scenario, gaining a holistic view of the competitive landscape has never been more crucial for CPG companies. Analyzing the competitors’ strategies can help businesses to better understand their competitors, their product portfolio, and marketing strategies, which may reveal new growth opportunities.
How are CPG companies preparing to thrive in the new normal? What does the global CPG competitive landscape look like? Which companies are well-positioned in developing countries and categories? How can you assess competitive dynamics and threats over time using competitor analytics? If you’re someone who operates in the CPG sector, answers to these questions can help shape your next move focused on driving market share. Don’t you agree?
Moreover, as CPG companies grow and evolve, there is a pressing need to refine their business strategies and pricing tactics to ensure they are in-line with market developments. Competitor analytics has now turned out to be a critical disruptor that is expected to have a profound impact on the growth of CPG companies as they maximize their efforts to recover and thrive in the ‘new normal’.
We can help you identify and analyze new market segments, competitive threats, and acquisition targets to help shape your next move. Contact us for detailed insights.
To better understand the scope of leveraging competitor analytics in the CPG industry let’s assume you are a CPG manufacturer who wishes to launch a new product line by replacing traditional packaging with biodegradable packing. But even before you venture into a new segment you must analyze the competitive landscape and get a better hold of your competitors. This is crucial because there might be a similar brand looking to reduce its carbon footprint by using recyclable packaging materials and chances are that consumers are more inclined towards the use of recyclable products might probably be interested in products with recyclable packaging.
Competitor analytics comes in handy in such a scenario and helps you gain a complete understanding of the competitive landscape by enabling you to track and monitor your competitors’ actions, irrespective of the market segment or area of specialization. Once you’ve succeeded in identifying the brands you’re competing with for market share and incremental sales, you can adopt advanced analytics strategies to analyze the datasets to gain granular insights into how each brand performs by demography, product category, and sales growth.
Track and monitor your competitor’s prices faster than ever before with Quantzig’s advanced competitor analytics solutions. Request a free brochure of our solutions to know more.
Our Competitor Analytics Services Include:
Whether you’re a data-savvy, well-established CPG company or a relatively new, mid-sized firm with a partial understanding of the power of data, we can help you leverage competitor analytics solutions to help you achieve your business goals.
We offer end-to-end competitor tracking solutions including competitor price monitoring, competitive price optimization, competitor analysis, distribution assessments, and product portfolio monitoring.
Real-time Competitor Price Monitoring
Our competitor analytics experts can help you track and monitor competitor prices in near-real-time and notify you immediately so that you can realign your product pricing strategies with the industry standards and latest market trends. Insights such as these can also help you devise a robust pricing strategy to drive sales and stay ahead of the curve.
Request a free demo to learn how Quantzig’s competitor analytics platform can help your organization.
Competitive Price Optimization
Our price optimization experts conduct thorough competitor research and optimize your product prices using a proactive approach to maximize sales and profit margins. As a part of the initial competitive research, we reassess industry standards and the pricing strategies adopted by market leaders and then suggest competitive price optimization strategies to ensure your products are priced as per the industry standards.
Product Portfolio Tracking
To provide you accurate, reliable results to act upon, we adopted a comprehensive approach to competitor tracking. The process begins with the categorization of your products into homogenous groups based on generic identifiers such as the universal product code, EAN barcodes, product category, brand, and other widely used product attributes. Adopting such an approach helps track competitors’ products on multiple sites or product catalogs at the same time for any specific product category.