Business to Businesss Marketing Essay Example | Topics and Well Written Essays - 4000 words

Business to Businesss Marketing - Essay Example The aim of the report is to provide an analysis of the potential market segment and also evaluates the business potential of the particular target market and the segment in which the firm plans to enter. The report also highlights the marketing strategy which the company performs in order to understand the target market and formulate strategy accordingly to suit the business perspective of the country and the company together. Selection and evaluation of Target Market Business to business marketing differs from that of consumer marketing. In B2B marketing, the volume of purchase are much higher than consumer marketing and as a result the target market must be selected based on the economic growth rate and the number of industries in that particular region. The organizations are of prime concern in case of B2B marketing and not the customers and thus the market selected is UK. UK chemical industries are among those industries which generate profit and are able to increase the economic growth rate of the country. ... The European chemical market involves chemicals such as inorganic, petrochemicals, fertilizers and industrial gases along with fine and specialty chemicals. The market size of Europe alone was estimated to be about USD495billion in the year 2003. Major chemical market includes France, Italy and Germany. If we look at the whole of UK market which covers the base chemicals segment including both organic and in organic chemicals along with specialty and consumer chemicals. UK manufactures a wide range of products and forms one of the largest manufacturing industries and ranks 7th globally in terms of consumption. In the same year 2003, the UK chemicals market was estimated to be USD 40.9billion and was expected to grow even more in the future (ReportSure, 2012). In UK the chemical industries is run and managed by the Chemical Industries Association (CIA) which is regarded as the largest organization which aims to represent pharmaceuticals and chemicals business in UK and across UK (CIA, 2012). LumiCore intent to deal in specialty chemicals such as paints, coating and pigments and according to reports specialty chemicals in the UK covers a market that generates revenue from sales of value added chemicals. Thus the UK specialty chemicals market constitutes of total revenue of $19.3billion in the year 2011 and represented a â€Å"compound annual growth rate† of about 3.2% in between 2007 and also 2011. The performance of the chemical industry in UK is forecasted to accelerate CAGR of about 4.9% for the next five year financial period from 2011 to 2016 which in return are expected to drive in value of the particular market of $24.6billion by 2016 (Business Wire, 2012). The specialty