Running head: marketing audit part II 1 Marketing Audit Part II
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Running head: MARKETING AUDIT PART II 1 Marketing Audit Part II Kristopher Johnson MKT 240
K. Dickerson March 7, 2017 Section I Exxon Mobil is one of the largest oil producing companies in the world. The have oil rigs and refineries located in multiple countries. Exxon sells to multiple gas and petroleum manufacturers. They also produce multiple products on their own. Marketing for Exxon can be difficult and is a hard process. Exxon has multiple target markets at different levels. They target gas and petroleum companies with the raw oil they are pumping from the rigs. The targeting aspects and procedures to this market are tough to find. It seems that the target market comes to Exxon in this situation. Next is targeting the different markets for their own products. Exxon produces both petroleum (gas) and oil products. The target market for these products would be to consumers that drive vehicles of any type. Exxon uses market segmentation to break these into specific target groups. For the consumers of petroleum, they target diesel and gas users. Inside the sect of diesel users there are two markets to target. You have farm grade diesel and over the road grade diesel. So naturally the target markets for these would be the agricultural industry consumers and the commercial trucking industry. In the petroleum sector, it gets a little more complicated. Oil is used in gas and diesel engines as well. Exxon will target the diesel and gas user industry only this time it will break down into different size engines and the stage of life of the engine. Exxon as any other company has a position that they stand by when marketing their product to consumers. Their position strategy is not much different than any other companies competing in their industry. Exxon states and claims that their product is the cleanest for the environment while remaining the best for your engine. Section II Total Product consists of 4 dimensions, generic, expected, augmented, and potential. In the generic and expected dimensions, Exxon, does not have to think too hard when it comes to these two dimensions. Its product is oil and gas and is needed every day in many ways and expectations are no different than it making the car run efficiently. The augmented dimension is where the salesman introduces the added value. Exxon portrays its augmented dimension in that their product burns cleaner leaving your car running more efficiently and the environment cleaner. Exxon uses the potential dimension claiming and proving that they are always improving and innovating in the petroleum and oil industry. Exxon’s products are a low involvement product. Oil and petroleum are bought and consumed every day. This is a must have industry. Without petroleum and oil the world would shut down and the economy would take a disastrous hit. Exxon got its name when it took over outlets Enco and Esso in 1972. Then they merged with Standard Oil Inc. and Exxon Mobil was founded. Exxon came from the Enco and Esso and Mobil came from petroleum products keeping you Mobil. It is a catchy brand name as well as describes how it originated. It is easily recognizable with two x’s. It also is very easy to pronounce. Exxon Mobil’s products are and have been in the growth and maturity stage for over 30 years. The gas a petroleum industry isn’t going anywhere anytime soon. In fact, until we find a better and more reliable alternative energy source for transportation it will remain that way. The only time the lifecycle stage may be put into decline is when a recession or economic slump occurs. Exxon’s over product strategy is not hard to perform or execute. It is well established and they are in a market that is a must consumable for consumers. That is clearly an advantage. The only major disadvantage is they have the potential setup for complacency. By being in a market that pretty much sells itself a big company like Exxon, could find itself in a complacent state of mind. Exxon offsets this by innovating constantly, changing marketing schemes, and staying active in the local communities. Section III Exxon’s pricing strategy is of the “you pay for what you get” motto. Exxon believes and stands by that their product is top of the line. They know they are not the cheapest, they do not expect to be the cheapest, but you will get the quality for the money. This is especially true in their synthetic oil for vehicles. They are a whole dollar more a quart than another other brand out there, but still sell more than their competitors. Thy obviously know what they are doing when it comes to pricing their product because it’s still in the top of the market. Section IV Exxon Mobil uses a few different media outlets. They have a little bit of radio adds aired during supporting events that they sponsor. Their main media concentration is the TV ads and commercials. They air on most of the big events. Exxon pays millions of dollars to be aired during the Super Bowl, big horse racing events like the Derby and Breeders Cup, The World Series, The NCAA Men’s Basketball tourney, and major Racing events. Exxon’s belief in this is that the name is already out there so by using these major events and outlets it is used as a reminder during high attention times! Exxon Mobil has been established for many years. Their consumer sales promotion campaign is of very little. Every so often they may offer an instore rebate or mail in rebate but that is about it. Since consumer sales promotion is used for promoting the brand and to pull a product through the market and increase demand, Exxon knows the demand is already there. However, they do utilize trade sales promotions. They use adds on how Exxon Mobil is environmentally conscious to attract consumers. Exxon also utilizes the racing industry, both track and drag racing, to promote the high performance of their product. Public Relations is a huge part of Exxon Mobil’s marketing strategy. In fact, this is the center of their marketing strategy. Exxon Mobil is all about helping and striving to uplift the communities around their facilities. They are very environmentally conscious as well. Their adds target words like cleaner and safer, making your children’s future world have clean air to breath. They are sending a positive message to the consumer and stakeholders about their product and them as an organization caring about the world we live in for many years down the road. Section V The distribution for Exxon Mobil is widespread. They have facilities located all over the world. From those facilities, they utilize warehouses. The trucking industry is mostly utilized for shipping methods from the plants to warehouses, and then from the warehouses to the retailers that carry their product. Exporting on ships is used as well. Not all of Exxon Mobil’s products are manufactured outside of the U.S. Exxon Mobil’s product is constantly shipped on. Most being on inventory programs at their end retailers. This means that Exxon Mobil constantly has outstanding orders and will constantly manufacture, produce and ship out the finished product on a daily basis. Section VI This Marketing Audit has been very challenging, but a fun and enjoyable learning experience at the same time. In the chapter reading I thought I knew what to do and how to apply it into a marketing scheme. However, by completing this audit, physically going through it and putting it on paper has allowed me to realize the breakdown of a good marketing plan. Through this audit, I have learned how consumer friendly and conscious Exxon Mobil is. You here how they promote environmentally safe, but I had no idea about how much time and money is spent on helping underdeveloped areas and communities by them. References Bashin, H. (2016). Marketing Mix of Exxon Mobil. Marketing 91. Retrieved From http://www.marketing91.com/marketing-mix-exxon-mobil/ Exxon Energy History (company website, n.d.) http://exxonenergy.com.yeslab.org/html/ourcoAboutHistory.htm Hall, B. (2010) Oil Industry. Retrieved from http://www.history.com/topics/oil-industry Azfar, R. (2016, September 22). ExxonMobil’s Social Campaign Invites Users to Share Extraordinary Commute Stories. Retrieved from http://www.mobilemarketer.com/cms/news/social-networks/23669.html Exxon Mobil Political Contributions and Lobbying (company website, 2016) http://corporate.exxonmobil.com/en/current-issues/accountability/political-contributions-and-lobbying/political-contributions-and-lobbying Crane, D. (2016, August 24). Exxon, the Olympics and Greenwashing 2.0. 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