A 360-Degree Approach to Identify Key Elements of a Brand Strategy for a Petrochemical Company
The largest subsector of the chemical industry – the ‘Petrochemicals Industry’ is changing rapidly due to the competitive dynamics of the global market scenario. This makes it necessary for petrochemical companies to make the right business decisions by understanding the changing dynamics of the market, as well as sources of cost advantage and trends in […]READ MORE >>
The largest subsector of the chemical industry – the ‘Petrochemicals Industry’ is changing rapidly due to the competitive dynamics of the global market scenario. This makes it necessary for petrochemical companies to make the right business decisions by understanding the changing dynamics of the market, as well as sources of cost advantage and trends in demand growth. However, over the past few years, petrochemical companies across the globe have been showing buoyant margins, as well as healthy demand growth.
The Business Challenge
- The Client: A petrochemicals industry major
A leading petrochemicals industry client wanted to identify and leverage the key elements that would help their brand stand out and gain a winning edge over the peer categories. They were looking to identify the key elements of a brand strategy that could be organized, redesigned, and deployed in accordance with their business plan. To do so, the client approached Infiniti to leverage its expertise in this field of market research.
Brand Strategy Assessment Benefits
Organizations often seem to be juggling between two contradictory goals i.e., enhancing brand visibility by making them distinctive and improvising their brand strategy to drive business value. Though these are seemingly contradictory goals, they are interrelated as both are essential for any brand’s success. Assessments such as these that focus on identifying key elements of a brand strategy help make necessary adjustments to brand strategies. However, a successful brand strategy built on credibility offers several benefits that help organizations lead their respective category.
Summary of Our Brand Strategy Assessment Engagement
The brand strategy experts at Infiniti Research adopted a comprehensive approach that included surveys and an assessment of the brand’s reputation to identify the essential elements of a brand strategy, which are required to thrive in the petrochemicals industry.
This study included in-depth primary and secondary research coupled with qualitative and quantitative data collection procedures. Our experts also collated inputs from various stakeholders in the petrochemicals industry to gain insights into the petrochemicals industry overview.
Solution Benefits and the Business Impact
This study offered a detailed petrochemicals industry overview to help the client understand the essential factors necessary for a brand’s success. The comprehensive analysis encompassed all the touch points that shape market perception, including product/service branding, brand portfolio structure, and corporate identity.
The solutions offered also enabled the pharmaceuticals industry major to gain detailed insights into the essential elements of a brand strategy. This, in turn, helped them alter their brand strategy and enhance their business reach.
The Future of Petrochemicals Industry
The competitive dynamics of today’s petrochemicals industry is a compelling factor that is forcing leading petrochemical companies to turn market advantages into their brand’s success. While several petrochemical companies rely on the easily available market data or assumptions that are not fully transparent, a few are more focused on developing their own scenario-based approach. However, to thrive in a competitive landscape is not easy for petrochemical companies, especially when you have no idea of what’s in store for the future. This has compelled petrochemical companies to enhance their brand strategy to navigate the changing industry landscape and build a business for the future.
A must-read case study for petrochemical companies looking to develop an understanding of the importance of brand strategy development.
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