A prominent automotive and mobility company, having a remarkable market share, wanted to upgrade itself and raise its product portfolio in the market.
Research Nester helped through its competitive analysis and benchmarking consulting services solution in finding out the recent market trends and innovations that the company was not following.
Competitors of the company were integrating market trends which through the analysis were brought to the limelight. This helped in making an impeccable strategy for upgrading the work scenario and giving state-of-art services to the customers.
The automotive and mobility company was established in the year 2009. With time, the company went on to make impressive strides in technology and production and emerged to be one of the prominent companies in the field. But with newer trends and market changes every so often, the companies. Internal analysis was deemed to be less effective. Understanding this need and the enthusiasm to change its market position and revenue stream, the company approached Research Nester for its competitive analysis and benchmarking consulting services. Research Nester, with its extensive study about the competitors, and comparison of the market trends, set out and formulated the blueprint of growth for the company.
Research Nester used its competitive analysis and benchmarking consulting services solution and found various notable market trends that its competitors were incorporating, but not our client. One such move was the E-mobility solutions that were incorporated into the industry. After in-depth research on the electric vehicle charging station market, it was clear that the need for plug-in hybrid electric vehicles was very common among the population. Automotive and mobility companies across the world are inducing many innovative solutions for increasing the number of elective vehicles on the streets. One such move was e-mobility. Hence, it was needed that our client to incorporated those recent trends, a few of which were:
With the utilization of the competitive analysis and benchmarking consulting services solution, Research Nester measured the company’s current scenario with its competitors. Our analysts understood where the company was lagging and provided the company with an effective strategy to follow the recent trends that the company was not following to be on track. This helped the company in upgrading its product portfolio, production, and delivery strategies. Further, the company could raise its market share to 15% during CY2022 from its earlier share of 10% in CY2021.