Croda: Life Sciences Specialty Chemicals
Former Senior Executive at Croda
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Croda: Life Sciences Specialty Chemicals(September 16, 2024)
Former Senior Executive at Croda
Interview Transcript
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Why do you need the commodity business? Could you not have smaller plants or fewer plants and just focus on the really high-end products?
If you are a sales rep for Croda, you have your targets. You don't want to sell commodities; there is no target for commodities at all. However, it's good to have them because you can offer a full package to the customer. You can sell the active ingredient, the specialty, the fancy stuff that allows for great claims, and the fillers needed for formulation. If I can sell the whole package, it's a win-win.
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Why do you need the commodity business? Could you not have smaller plants or fewer plants and just focus on the really high-end products?
It's essential to use the commodity business to approach these customers and gain volume. Once you have a foot in the door, you can then sell the specialty products, which are what make you money due to their high margins. It's a combination. The focus is on the specialties, but sometimes for new technologies and innovations, it's difficult to open doors because it's a bit riskier and different.
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