Market research in process plant contracting

Abstract

Process plant contractors, like other companies, need information for developing and implementing market strategies which are compatible with corporate policies and goals. Although one step removed from chemical markets these needs are similar in scope to those of a chemical manufacturer but have some different accents. They embrace: Products (technologies), Client companies, Competitor companies, Country and regional data, Trends in technologies, Trends in the business environment. This paper shows in detail the way in which one contractor approaches its market research and information needs with a compact unit responsible for: Market analyses for products and territories, Market trend assessments for products and territories, Dissemination of routine/published information, Handling of random information requests, An information bank. The system described is not necessarily typical (another contractor has opted for a completely different solution: the use of outside consultants) but experience over several years has demonstrated its practicality. The small number of staff employed places limits on the size of research projects which can be tackled and requires each member to be involved with both information input and study output activities. The unit collectively has good recall of banked information, can respond quickly and makes valuable contributions to marketing and sales activities with minimum recourse to outside research organisations.