Amid declining production and inventory rightsizing, the chemical industry witnessed an increased sales growth of 2.1% in 2016
The organic chemicals space is witnessing considerable growth with the rising industrialization and rapid urbanization. With the growing demand for organic chemicals among the end-user segments such as food and beverages, pharmaceuticals, and pesticides, the chemical industry at large is focusing on innovations to improve their production capabilities and enhance their overall marketing return on investment. Additional factors such as the growing financial prosperity coupled with the rising disposable income levels are expected to have a positive impact on the growth of the organic chemicals manufacturing space. Stringent regulations and growing awareness regarding the adverse effect of organic chemicals on health and environment may hinder the growth of the chemical industry. Our experts at Infiniti provide strategic insights that help in gaining a better understanding of the chemical industry trends and the drivers influencing the demand for organic chemicals.
Here are some of the challenges faced by the companies in the organic chemicals space:
- Increasing competition: Staying ahead of the competition becomes a challenge for the organic chemicals manufacturers with new players coming from non-traditional sectors such as energy, utilities, and mining. Moreover, companies operating in the chemical industry are reinventing themselves to become more agile and retain their market share in the industry.
- Keep pace with the rapid regulatory changes: Today, the organic chemicals manufacturers have to meet regulations in terms of labeling, handling, and storage of the products. So, organizations need to invest extensively in research and development to ensure that they are compliant with the set regulatory standards.
For players looking to establish themselves as major organic chemicals manufacturers, marketing strategy helps outline a business plan to achieve the desired business goals. Companies in the organic chemicals space can leverage the use of marketing strategy to understand the current chemical industry trends and identify the competitors to improve the overall business performance.
The Business Challenge
- The client- A renowned organic chemicals manufacturer
The client, a renowned organic chemicals manufacturer, wanted to better understand the chemical industry trends and the unique selling proposition to differentiate their products from the other suppliers of organic chemicals. The organic chemicals manufacturer also wanted to understand the 5Ps of the marketing mix regarding the product, price, place, promotion, and the people. Through a robust marketing strategy, the manufacturer wanted to keep the brand in mind to develop, assess, and devise an effective marketing plan.
Want to learn more about how our marketing strategy helped the client identify the chemical industry trends?
To devise a robust marketing plan for the organic chemicals manufacturer, Infiniti’s marketing strategy experts carried out extensive research comprising interviews and discussions with prominent stakeholders in the chemical industry. Moreover, to identify the latest chemical industry trends, our experts compiled information from a wide array of reliable sources such as trade shows, company presentations, and industry forums.
The Solution Benefits and the Business Impact
The marketing strategy solution offered by Infiniti offered insights to help the client create a flexible strategy to respond to changes in the customer perception and demand. Moreover, the organic chemicals manufacturer was able to develop a SWOT analysis to understand the strengths and weakness of the companies operating in the organic chemicals space. Moreover, the client was able to target and position their products to the right target audience through the right channel.
In the near future, the chemical industry will witness considerable growth with the relentless growth in innovations. Moreover, due to technological advances, the industry at large will also witness a growing demand for organic chemicals in areas such as biotech and fuel cells.