The manufacturing process is essential to the global economy because it provides products for consumers, businesses and society in general. However, manufacturers need to be able to face various market risks in order to achieve success. These risks come from changes in consumer tastes and preferences, new regulations, increased competition due to globalization and technological advances.
These challenges can be complicated for manufacturers trying to stay ahead of the game, but if managed well can also lead to higher revenues and greater success. In this article, we outline some of the major market challenges that manufacturers are facing today.
Who is selling my products?
Manufacturers need to know who is selling their products in order to ensure that their products are being sold safely, ethically and in compliance with laws and regulations. Non-authorized retailers have the potential to harm the brand by not meeting the quality standards and engaging in price dumping. It is difficult to identify such dealers manually, so little or considerable effort is required.
Does the own sales prices (UVP) correspond to the market situation?
Another key challenge for manufacturers is ensuring that their own sales prices correspond to the market situation. One of the most important factors to consider when setting the own sales price (UVP) of products is current market conditions. Even if the manufacturer maintains an appropriate pricing strategy, there are external forces that can drastically affect the market price of goods such as supply/demand and seasonality changes. These fluctuations can challenge even the most well-honed strategies and cause prices to diverge from those set by other competitors in similar markets.
How do manufacturers gain transparency in international markets?
With an extensive and constantly changing range of products, the big challenge is to maintain an overview and create transparency with regard to the question "Who sells my products on which channel and at what price?" Especially when engaging in international markets, the aim to gain price transparency is a more complex challenge.Without it, manufacturers can easily become exposed to high-risk activities such as price collusion and dumping, which can have serious financial repercussions.
Automated market monitoring to combat current challenges
When it comes to staying ahead of the competition in today's market, manufacturers must be prepared to take a proactive approach. Market monitoring is an invaluable tool for manufacturers looking to stay ahead of the competition and capitalize on potential opportunities for growth and expansion. By utilizing market monitoring, manufacturers can benefit from an up-to-date view of the ecommerce industry including competitors’ current activities and market changes. This knowledge provides valuable insights into competitor strategies and helps manufacturers identify potential opportunities for growth or expansion.