Differentiation is a focus for many market players. With so many players in the market offering similar products it is important to stand out. Some companies push forward technological advances by introducing innovative formulations that prevent more scales or enhance environmental sustainability. On the other hand, others may decide to concentrate on customer service where they provide quick responses and tailor made solutions to specific clients.
Pricing strategies are also very significant here. Some firms adopt a penetration pricing strategy whereby they initially set lower prices for their scale inhibitors to penetrate the market quickly. This approach aims at attracting price-sensitive patrons thereby creating a strong client base. Conversely, premium pricing strategies might be employed by brands emphasizing superior quality or unique features who target narrower niches willing to pay extra money for best-in-class products.
Moreover, product diversification is a great way of positioning oneself in the market as far as share positioning is concerned. Companies can diversify their products by including scale inhibitors for particular industries like oil and gas, water treatment, food processing among others or expand their product line to include other complimentary solutions such as corrosion inhibitors, biocides or other chemicals that work in tandem with scale inhibitors to provide customers with a complete solution and increase the company’s presence in the market.
In this industry, innovation is still one of the major drivers of success. Continual research and development exercises enable a firm to stay ahead through introduction of new formulations which are more effective, environment friendly or cost saving. This strategy does not only attract customers seeking high-tech answers but also makes the company an industry leader.
Lastly, global expansion and strategic partnerships significantly contribute towards market share positioning. Companies can enter new markets through international distributors’ collaborations with them or mergers with regional players thereby enjoy economies of scale and accessing wider customer bases. The establishment of global footprint helps reduce exposure risks brought about by fluctuations in regional markets while at the same time it diversifies revenue sources.