Exxon Mobil Marketing Mix: ExxonMobil sells motor fuel as well as other products that are marketed as Exxon. Between 1972 and 1999, Exxon was registered as the brand name for the firm. It was initially called Standard Oil Company in Jersey Standard as well. Later in the year 1973, the Enco, Humble, and Esso brands were replaced with Exxon within the United States.
Being among the largest corporations in the United States, Exxon Mobil Corp. was a public company with a total market value of 313 billion in September 2015 and around 15 million shares traded daily. Through its energy business, Exxon Mobil primarily explores natural gas and oil production and distribution.
Marketing Mix Of Exxon Mobil
Marketing Mix Of Exxon Mobil is brand-based. In Marketing Mix Of Exxon Mobil, We will Learn About the four key elements of Marketing Mix: products, place, price, and Promotions. By paying attention to the following four components of the marketing mix, a business can maximize its chances of a product being recognized and bought by customers. We will be discussing Exxon Mobil Marketing Mix. Below is the detailed Marketing Mix Of Exxon Mobil.
Let’s talk about Exxon Mobil Marketing Mix.
Exxon Mobil Main Competitors
Exxon Mobil’s official website: corporate.exxonmobil.com
Product in the Exxon Mobil Marketing Mix:
- Royal Dutch Shell, PLC The company is a significant oil producer headquartered in the Netherlands and is registered in London. It is involved in eight wind power projects throughout Europe and North America. Royal Dutch Shell is laying strategies to increase its presence in integrated gas.
- Chevron Corp: This is the second-largest oil company in the United States. It produces power and works using integrated petroleum and chemicals.
- Valero Energy Corporation: Comparing it with the companies mentioned above, It is comparatively small, with a market capitalization that is approximately$29.3 a billion. Its headquarters are in San Antonia, Texas; the company has 10 ethanol facilities and offers an alternative to invest 50 megawatts in wind energy. Valero Energy Corporation. It is suitable for investors interested in ethanol refining and different retail businesses.
Exxon Mobil Corp has a daily capacity of as high as 3.95 million barrels of crude oil, and the capacity of its refinery is 6.5 million barrels. In 2014 it placed as one of the top revenue-generating businesses after raking in an astounding $393 billion in revenues.
Price in the Marketing Mix Of Exxon Mobil:
With different business portfolios, ExxonMobil employs various pricing strategies for its various products. However, even though this is an issue, international market dynamics regarding oil prices significantly influence ExxonMobil’s pricing. Also, ExxonMobil considers the fluctuation in the price of crude oil, government policies, transport costs, demand, supply, and taxation before determining the prices of its products.
Place in the Exxon Mobil Marketing Mix:
Place mix is the location where the company sells its services and products. ExxonMobil is among the largest companies in the United States in the gas and oil sector. Regarding revenues, ExxonMobil tops other companies according to the list published by Time and the Fortune Global 500 list. Its global nature is demonstrated in the way it operates thirty-seven oil refineries across twenty-one countries and employs over 100 thousand (100,000) employees worldwide.
Promotions in the Exxon Mobil Marketing Mix:
If a company is to be successful in today’s highly competitive marketplace, it must promote its products to raise awareness of customers and excellent public relations. As a corporate citizen, ExxonMobil is well applauded for its health programs. It is also focused on education and helps young minds to take an interest in technical fields, e.g., sciences and maths, to be successful in today’s technologically advanced world.
In terms of women’s empowerment, ExxonMobil runs programs that inform women about their contribution to society’s development and encourages women to be more productive and conscious of their development by assuming managerial roles. It is also a proponent of human rights, teaches, trains, and invests in the communities the areas they serve, and aids non-governmental organizations with projects as well as worldwide promotion of environmental, social, and economic development. These types of corporate social responsibility increased brand recognition and market share because customers perceive ExxonMobil as one of their very own.
This is the Marketing Mix Of Exxon Mobil. Please let us know if you have additional suggestions to add.
Let us know What do you think? Did you find the article interesting?
Write about your experiences and thoughts in the comments below.