Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of their latest Q&A session on strategies to enhance market share in Asia for industrial and manufacturing firms with Mr. Ajay Biswari, AVP – Custom Research (Market and Competitive Intelligence). He has extensive knowledge in working with Infiniti’s clients in the industrial and heavy equipment sector, specifically on topics relating to market entry, market expansion, merger and acquisition identification, and customer needs assessment. In this blog, Mr. Ajay Biswari provides some key insights into why Asia is a promising market for industrial and manufacturing companies. He also shares insights on some of the key strategies for achieving maximum market share in the Asian industrial and manufacturing sector.
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Firms in the industrial and manufacturing industry are facing several challenges such as volatile market demand, quality issues, increasing need for differentiation in the market, and need to comply with the stringent regulatory environment. Moreover, with the entry of new players in the market and rising competitive pressure, industrial and manufacturing firms have been struggling to devise effective market expansion strategies or plans. Consequently, companies in the industrial and manufacturing industry are under the pressure to understand the competitor landscape and gain a comprehensive view of the current market scenario before expanding to a new market.
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Today, companies are hugely investing in technologies and new product innovations to gain a leading edge in the market. For instance, a major tool manufacturing firm realized 24% productivity enhancement and 10% workforce efficiency improvement by investing in new technologies such as IoT and AI.
“Investing in a new market expansion plan is the best approach, as this is sure to provide an above-average growth rate and can save millions of dollars in savings,” says Mr. Biswari
Also, as Asia records the highest global market growth in manufacturing, it is one of the promising markets for companies in the industrial and manufacturing industry.
Entering a new market without a thorough understanding of the competitive landscape and industry challenges can prove to be costly for an organization. Contact us to know how our experts can help you to devise an efficient market expansion strategy.
In this discussion, Mr. Ajay Biswari provides answers to questions relating to:
- Why industrial and manufacturing companies need to expand their business to new markets?
- What are the strategies that must be adopted by manufacturing firms to survive in today’s competitive marketplace?
- Why entering the Asian market can be an ideal growth strategy for manufacturing firms?
- Why Asia is a promising market for industrial and manufacturing companies?
- What are the major market expansion approaches that the top manufacturing companies in the world adopt to stay ahead of the game?
Get more information on our solutions for companies in the industrial and manufacturing industry.
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