Our aspiration is to be the world's leading chemical company for our customers. We want to strengthen our passion for customers throughout the entire organization. We will grow profitably and create value for society. This is how we create chemistry for a sustainable future.
Today, the world is changing more rapidly than ever before, driven by demographic change and new digital technologies. Our customers in different industries and regions face diverse social and environmental challenges due to limited natural resources and increasing consumer demands. Chemistry is key to solving these challenges.
In future, we want to anticipate and fulfill our customers’ needs even better. We have one clear ambition looking ahead: Our customers should have a new experience with BASF. By combining our unique expertise in chemistry with our customers’ competencies, we will jointly develop solutions for society and the planet that are both profitable and responsible. In this way, we will grow profitably and create value for society.
In our Verbund, we intelligently connect our production plants and technologies to efficiently use resources and leverage our expertise. For more than 150 years, our innovations have decisively contributed to changing the world we live in for the better. Because this is our purpose. This is what we do best: We create chemistry for a sustainable future.
The purpose of BASF reflects what we do and why we do it:
We want to contribute to a world that provides a viable future with enhanced quality of life for everyone. We do so by creating chemistry for our customers and society and by making the best use of available resources. We live our corporate purpose by: sourcing and producing responsibly, acting as a fair and reliable partner, connecting creative minds to find the best solutions for market needs. For us, this is what successful business is all about.
To reach these goals, we have defined our action areas.
When it comes to customers, we all stand together, and everyone impacts the experience our customers have with us. To be the leading chemical company, we must strengthen our performance in innovation and in operations, leverage digital ways of working, and integrate sustainability more deeply into our business decisions. We aim to strengthen our portfolio using the power of our Verbund integration. We will further develop our organization to run effectively and efficiently so that all of us can increase our focus on our customers. We have identified six action areas through which we aim to sharpen our customer focus.
Our values are the guidelines for our actions. They define how we want to work together – as a team, with our customers and our partners: creative, open, responsible and entrepreneurial. Our values describe how we want to grow profitably and create value for society.
Through different brand touch points, the BASF brand proves every day that it stands for connectedness, innovative solutions, value-adding partnerships and sustainability. To maintain and strengthen our position as the world’s leading chemical company, ongoing professional brand management is required.
BASF's success as an integrated global chemical company relies on having a strong brand. Our brand and aspiration are manifested in our strategy, our corporate purpose – We create chemistry for a sustainable future – as well as our values.
“Connected” describes the essence of the BASF brand. Connectedness is one of BASF’s great strengths. Our Verbund concept – realized in production, technologies, knowledge, employees, customers and partners – enables innovative solutions for a sustainable future. The claim that “We create chemistry,” as stated in the BASF logo, helps us embed this solution-oriented strategy in the public perception. Our brand creates value by helping communicate its benefits for our stakeholders as well as our values.
Wherever our stakeholders encounter our brand, we want to convince them that BASF stands for connectedness, intelligent solutions, value-adding partnerships, an attractive working environment and sustainability. This contributes to our customers’ confidence in their buying decisions and to our company value.
We are constantly developing our brand image. We regularly measure awareness of and trust in our brand, and therefore in our company. A global market research study conducted every two years showed in 2016 that, in terms of awareness and trust, BASF is above the industry average in numerous countries. Our goal is to continue increasing awareness of BASF in all of our relevant markets. In 2017, we updated our corporate design to be able to present our brand flexibly, uniformly and efficiently in a fast-moving media landscape.
BASF’s global presence means that it operates in the context of local, regional and global developments and is bound by various conditions. These include:
BASF holds one of the top three market positions in around 75% of the business areas in which it is active. Our most important global competitors include AkzoNobel, Clariant, Covestro, DowDuPont, DSM, Evonik, Formosa Plastics, Huntsman, SABIC, Sinopec, Solvay and many hundreds of local and regional competitors. We expect competitors from Asia and the Middle East in particular to gain increasing significance in the years ahead.