Effectiveness of market expansion for Maritime Entrepreneurs PTE.

Abstract

Maritime Entrepreneurs Pte LTD (MEPL) is the agent and distributor of raw materials and chemicals in Bangladesh. MEPL has been doing business since 1982 and currently one of leading chemical distributor in Bangladesh. It is basically a B2B business. It has foreign suppliers who supply chemicals to local buyers in our country through MEPL. In addition to that, MEPL is the channel partner of several foreign companies and sell their chemicals from MEPL’S ware house. The current market trend indicates there is a gap between demand and supply in the B2B sector that implies MEPL has the opportunity to grab bigger market share. Currently MEPL is working on more than 500 chemicals in our country and over 30 renowned foreign suppliers are supplying chemicals from different country. In this it is discussed that why MEPL should look for market expansion. And there are several reasons were shown through which it is understandable that MEPL might have good prospect in dealing with new chemicals along with the existing chemicals. Moreover, in the report a survey has been conducted to find some numerical data that can show whether market should be expanded or not. MEPL’S employees seem to be highly interested in expansion as they observe the market for a long time. And the trend of demand of their chemicals helps them decide why it is effective for MEPL to expand the market. Finally, there are some recommendations are given in this report and some critical analysis have been included that measures the data of the survey to identify the requirement of market expansion for MEPL. Data were shown through diagrams where survey on the employees of MEPL has been reflected.