How Customer and Market Diversification Can Shield Businesses from Economic Challenges - Ep. 124

Effective diversification requires assessing future market trends, identifying parallel markets that align with existing products, and extending reach geographically. In this episode of The Chemical Show, host Victoria Meyer, explores the various reasons why companies choose to diversify, including gaining a competitive edge, growing profits, and navigating industry changes. Victoria also discusses the evolving nature of global and regional supply chains and how diversification strategies need to adapt to these changes. 

This the final episode of host Victoria Meyer’s 3 part series on approaches chemical companies are taking to combat the market weakness in the first half of this year (for more on this, check out Episode 118 of The Chemical Show where Victoria reviews 2Q23 earnings reports, Episode 120 which covers Commercial Discipline, and Episode 122 which covers Customer Centricity.   

Learn more about the following:

• How diversification creates business resilience
• Good business performance in a flat economy = diversification decisions made early on
• How companies diversify
• The importance of market adjacencies in diversification

Considering the power of customer and market diversification in driving business resilience, Victoria Meyer delves into the importance of diversification in creating a strong and adaptable business. Victoria highlights the perspectives of industry leaders and provides insights into how diversification can help chemical companies navigate flat and inflationary markets, beat the competition, and thrive in times of uncertainty.

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Igor Ansoff

Creators & Guests

Host

Victoria Meyer

Host of The Chemical Show; founder and President of Progressio Global

What is The Chemical Show: Executive Interviews on Leadership, Sustainability, Supply Chain, Digitization, Customer Centricity and more and key trends?

Welcome to The Chemical Show™, where chemicals mean business. Featuring interviews with industry executives, you’ll hear about the key trends impacting chemicals and plastics today: growth, sustainability, innovation, business transformation, digitalization, supply chain, talent, strategic marketing, customer experience and much more.

Episodes are published every Tuesday.

Hosted by industry veteran Victoria Meyer, The Chemical Show brings you the latest insights into the industry. You will hear from leading industry executives as they discuss their companies, business, markets, and leadership. You’ll learn how chemical, specialty chemical, petrochemical, material science and plastics companies are making an impact, responding to the changing business environment, and discussing best practices and approaches you can apply in your business.