Competitive Intelligence, CPG & Retail, Research and Information Services

Competitive benchmarking to uncover market opportunities

Competitive benchmarking to uncover market opportunities

Businesses that need to navigate complex markets and face evolving competition find competitive benchmarking against industry peers a crucial tool for informed decision-making. By systematically comparing performance, strategies, and positioning against competitors, organizations gain invaluable insights. This process identifies areas of improvement and reveals hidden opportunities. For our client, a leading player facing stiff competition and unique challenges in the African market, this approach became instrumental in deciphering the nuances of market dynamics. Keep reading to learn how. 

Objective and challenges

The client, one of the leading fruit-juice manufacturers in the world that sells fruit juice in over 100 countries, was facing intense competition from local players in Africa. Adding to its woes was the fact that the consumption of juice in the African market is very low compared to countries in America, Europe and Asia. To understand how it could improve its market position in the continent, the client wanted to explore hidden opportunities in four African countries, namely Nigeria, Egypt, Kenya, and South Africa.

The client was, therefore, in search of a research partner that could help it assess the opportunities in the focus geographies and the market penetration of organized and unorganized channels, see how they compare, and effectively leverage any hidden opportunities in the market.

 

Approach and solution

Netscribes performed a comprehensive competitive benchmarking analysis, which involved using a combination of secondary and primary research to gather data and analyze the African fruit juice market.

Netscribes’ consultants benchmarked the client’s competitors by comparing the African local players versus global players, including the client’s brand, for Egypt, Kenya, Nigeria, and South Africa. Each of the players were benchmarked based on factors such as volume share, positioning, strengths, marketing and advertising initiatives, and strategy.

It analyzed the competitors in terms of market penetration, ATL and BTL marketing activities, product and market development, and clearly illustrated their market positioning in the target markets using market positioning maps.

Post the analysis, Netscribes identified the whitespaces and potential opportunities and provided answers to business questions such as: “What should be our target market segment?” and “What should be our market positioning?”

Benefit

Through the analysis, the client found that:

  • There was an opportunity to establish a partnership with existing, well-known local brands.
  • African consumers are open to well-known reputed global brands. The client being financially stronger than most of its competitors, could make better and more effective marketing investments by leveraging its global presence.

In Egypt and Kenya

  • Local companies foresee an increased demand for their products and are preparing themselves to cater to it.
  • The market leaders have the advantage of attracting new customers, which makes the entry or expansion of new players challenging.

In Nigeria and South Africa

  • There’s a high threat of local and global firms partnering to cater to the growing local demand.
  • Local know-how of local players and the financial stability and reputation of global players make a strong combination.
Global players who entered early into the market have the advantage of choosing partners of their choice.
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