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The Dow Chemical Company
The Dow Chemical Company is among the largest chemical manufacturers in the world. It produces a variety of products; from simple industrial chemicals to plastics, dyes, hydrocarbons, agricultural products to water purification technologies. It has a global presence in over 150 countries and has over 50,000 employees. Due to the diverse nature of the company’s products, the company has to target two distinct market segments, the end-user and the industrial clients. Dow, however, faces stiff competition from other chemical manufacturers in these markets, notably the Monsanto Company and the Bayer Group. The competition stems from the fact that these three companies essentially stock the same products, with very little variations if any. Buy this excellently written paper or order a fresh one from acemyhomework.com
The viability of the two market segments to Dow Chemical Company is mainly down to the fact that all its products, from whatever division, are specifically geared towards both segments. The various distinct characteristics of both segments have been heavily influencing the marketing strategies that the company has adopted. Characteristics such as demographics, psychographic issues and geographic factors all influence a market’s needs and wants, and are therefore important for a company’s marketing strategies. To better understand how such characteristics influence marketing segments, a product can be analyzed based on derived value it gives to the target segment. For Dow Chemicals Company to continue enjoying more positive benefits from its market segments, a host of recommendations have to be implemented. These recommendations include mergers and acquisitions, lay-offs and job cuts, more product specialization and increased research and development.
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