I need to summarize the current marketing plan for Praxair Incorporated (http://www.praxair.com).
Please help me with this task with details to explain the elements of the plan, which will include:
-Praxair's Mission and Goals
-Competitors in the Praxair industry market
-The Target Market
-The Marketing Mix (Product strategy, promotion strategy, pricing strategy)
-Budget, Schedule, and Monitoring
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Praxair Inc. is one of the largest industrial gas suppliers in North and South America, and has a revenue of $11 billion in 2011. The company strives for maintaining high standards in product quality and excellence in customer service. The major gases that the company supplies include oxygen, nitrogen, argon, helium, hydrogen, carbon dioxide and certain specialty gases. Although there are very few players in this industry, there are European players such as Linda Group and Airlquide. These players are larger in terms of revenue and size of operations, which the company actually needs to compete with. The company finds opportunity in supplying hydrogen gas as the market, for it is enormous. The company has been named as the 43rd most innovative company, and Praxair would apply the same in providing hydrogen gas to industrial users. The products will be supplied through pipelines, tankers and cylinders. The company, keeping competitors' prices and costs of operation in mind, will do the pricing. The product will be promoted through the company's own sales force, who will be trained properly, with advertisements in industry journals and magazines, and participation in various conferences and trade shows. The company will exert control over the performance on a regular basis through self-discipline, relationship management, involvement, and commitment of top management.
Praxair Inc. is one of the largest industrial gas suppliers in North America and South America, with revenues of $11 billion in 2011 (New York Times, 2012: Nov. 13). The company was founded in 1902 and was given the name 'Praxair' in 1992 with a combination of Greek word 'Praxis' meaning practical application and Air (Praxair Inc., 2012: n.d). Thus, the company is into the business of supplying industrial gases such as atmospheric, process and specialty gases, high performance coatings and related service and technologies (Praxair Inc., 2012: n.d). The company supplies oxygen, nitrogen, argon, carbon dioxide, helium and hydrogen (Praxair Inc., 2012: n.d).
Praxair's Mission and Goals
Praxair's aims to be the best performing industrial gas company in the world, as determined by its customers, employees, shareholders, suppliers, and communities in which it operates (Praxair, 2012: n.d). The company's core values include total customer satisfaction, results, integrity, people excellence, safety, environmental excellence, and increased shareholder's wealth (Praxair, 2012: n.d). Praxair is committed towards the following goals:
- Meet customer expectations on a continuous basis (Praxair, 2012: n.d).
- Deliver safe and environmentally acceptable products on time (Praxair, 2012: n.d).
- Operate facilities effectively to ensure employee and community safety (Praxair, 2012: n.d).
- Improve customer's ease of doing business with Praxair (Praxair, 2012: n.d).
- Remain committed to continuous quality improvement (Praxair, 2012: n.d).
The company wishes to strive for excellence in product quality and customer services in a wide variety of industrial gas requirements of the country.
The core competence of Praxair lies in the supply of major industrial gases including oxygen, nitrogen, helium, argon, and hydrogen (Praxair, 2012: n.d). Although the company is also involved in equipment, medical and safety products, the company's mission statement clearly indicates that the company wishes to be a leader in industrial gas space.
- Large army of 26000 ...
The solution provides guidelines on developing different components of a Marketing Plan with special reference to Praxair.