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Market Intelligence in Machine Manufacturing

Market intelligence enables machine manufacturers to gain a competitive advantage through in-depth market knowledge. Learn more about the role of market intelligence and AI in machine manufacturing, specifically in after sales and spare parts pricing. 

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Everything you need to know on market intelligence in machine manufacturing can be found here:

MARKET INTELLIGENCE AND AI IN MACHINE MANUFACTURING

01 The Growing Importance of Market Intelligence 

In a time of rapid technological developments and constantly changing global markets, market intelligence is becoming increasingly relevant in machine manufacturing.

The industry is facing challenges such as digitalization, automation, and changing supply chains. The use of market intelligence in after sales can enable efficient market monitoring and create market visibility. For example, pricing trends for spare parts can be identified at an early stage and the company's own prices can be adjusted to market changes depending on the strategy.

 

MARKT-PILOT dashboard using market intelligence to show pricing opportunities and competitor comparison charts
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Market Intelligence in Machine Manufacturing: Deep-Dive

Stay ahead in the dynamic environment. In this extensive guide, you'll learn the importance of implementing market intelligence into your pricing strategy.

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MARKET INTELLIGENCE AND AI IN MACHINE MANUFACTURING

02 What is Market Intelligence?

Market intelligence in machine manufacturing involves the collection, analysis, and evaluation of data on a company, its competitors, and the market as a whole.

The objective is to use systematic data analysis to make informed decisions, identify opportunities and risks, and therefore achieve a competitive advantage. For machine manufacturers, market trends are crucial for redefining processes, adjusting prices, and securing a strong competitive standing. 

The main goal here is to make informed decisions through in-depth data analysis, to strengthen market position, to identify both opportunities and risks at an early stage, and to leverage potential to position themselves resiliently. For OEMs, market intelligence opens up numerous opportunities: 

Automation of processes (more efficiency, time savings, conserving resources)

Increase in customer satisfaction

Strengthening of customer loyalty

Reactivation of lost customer relationships

Optimization of operational efficiency and saving of resources

Development of new revenue sources

Identifying new revenue potential

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SUCCESS STORY

KÄRCHER Utilizes Market Intelligence to Boost Spare Parts Sales

With the help of MARKT-PILOT and PRICERADAR's market intelligence, Karcher successfully implemented a market-based pricing strategy.

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MARKET INTELLIGENCE AND AI IN MACHINE MANUFACTURING

03 Optimize Spare Parts Prices with AI

Especially in the after sales area, market intelligence offers considerable advantages to machine manufacturers. Many OEMs do not fully capitalize on their sales potential because they do not price their spare parts in line with the market. This is where AI, such as that provided by MARKT-PILOT, offers an innovative solution for market-based spare parts pricing.

With AI tools, machine manufacturing companies can create market insight and achieve sustainable increases in sales and profits. By using artificial intelligence, market data is collected and analyzed in real-time, which would not be feasible manually.  

PRODUCTIVE PRICING

Market Intelligence enables OEMs to develop dynamic pricing strategies based on current market conditions. This makes it possible to adjust spare parts prices in real-time, depending on supply and demand, seasonal fluctuations, or other market-related factors. This allows companies to optimize their margins while remaining competitive.  

 

PROACTIVE RESPONSE TO MARKET CHANGES

By continuously monitoring the market, companies can identify changes in the industry, for example, new competitors, technology innovations, or regulatory changes, at an early stage. This enables proactive adjustment of spare parts prices in order to always be optimally positioned in the market. 

 

SEGMENTED PRICING STRATEGIES

With insights from market intelligence, OEMs can develop differentiated pricing strategies for different customer segments or geographic markets. This makes it possible to set prices based on the value or willingness to pay of certain customer groups, which can result in better market penetration and higher sales. 

MARKET INTELLIGENCE AND AI IN MACHINE MANUFACTURING

04 The Future: Success In Dynamic Markets with Market Intelligence

In today's world of technology and global change, market intelligence is essential in machine manufacturing. The use of AI, especially for market-based spare parts pricing, offers significant benefits. The industry recognizes the importance of market intelligence and artificial intelligence. Join us for a discussion on market-driven spare parts pricing at the German Mechanical Engineering Summit on November 7-8, 2023 in Berlin. 

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Would you like to learn more about Market Intelligence?

In our whitepaper, we go more in-depth on the benefits and success factors of market intelligence in spare parts pricing. 

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