Strategic marketing management of oil and

Higgins and Vincze, ; Mintzberg, ; Pearce and Robinson, are of the opinion that strategic marketing can be defined as the process of using systematic criteria and rigorous investigation to formulate, implement, and control strategy, and formally document organizational expectations.

Strategic Marketing Management of Oil and Gas Industry: a Review of Literature

It seems that this growth in the number of product marketing companies in Nigeria has not been matched with an equal growth in the awareness of oil and gas services to clients and other interested publics.

Generally, marketing strategy deals with adapting the marketing mix elements to environmental factors.

Strategic marketing management of oil and gas industry: A review of literature

Jessica has great people skills and it is always a pleasure to work with her. It is business sphere knowledge- intensive McDonald and Wilson, ; Duberlaar et al. How important is pricing in competitive strategy, J. Growth strategies[ edit ] Growth of a business is critical for business success.

Managerial judgment is important in coping with environmental ambiguity and uncertainty in strategic marketing Brownie and Spender, Therefore, organizations hoping to enhance corporate performance in a dynamic business environment should consider the following recommendations: Oil failures in Nigeria: Ulrich D, Barney JB, Fourth, with the competitive downstream oil and gas industry of today, participants can put more emphasis on relationship marketing to ensure effectiveness.

Marketing strategy

Customer value means taking into account the investment of customers as well as the brand or product. Also rapid transitions of information age and appearance of new economies set forth customer as a valuable asset and communicating successfully with internal and external customers is an essential part of doing business which create competitive advantage in the external environment and enhance interindustry marketing commitment in internal environment, in a manner that all of the resources and technologies of an organization should combine with internal and external customers in order to have a sustainable competitive advantage and organizational commitment.

Marketing strategies constitute one of the functional strategies amenable to application by contemporary companies in order to enhance performance.

International Energy Services Ltd, Lagos. Organizational managers in many firms have applied the so-called marketing concept, which may be simple or complex. A firm may grow by developing the market or by developing new products.

The peculiarities of oil and gas marketing services may create or set modalities for goal actualization parameters that are different from those found in the marketing of tangible J.

Successful organizations are those that integrate efficient and effective management in internal and external dimensions through external relationship management and enhancement of interindustry marketing commitment and goal actualization among internal and external customers.

By being a first entrant, it is easy to avoid higher switching costs compared to later entrants. Finally, oil and gas marketing academics should endeavour to study holistically the relevant business functions and activities which may enhance or hinder the understanding and applicability of relevant modern management concepts and principles to product services marketing.

Strategic marketing and firm performance. However, it is difficult for an organization to achieve an efficient and effective marketing strategy Li et al. Marketing thought, with its practice, has been moving speedily into the service industry Kotler and Connor, However, achieving efficient and effective product marketing strategy by an organization is difficult, as a result of the ambiguity and instability of environmental factors Brownie and Spender, Also by decreasing outside businesses input it will increase the efficient use of inputs into the business.

As oil and gas clients are demanding more quality from their petroleum product marketing companies PPMCit may be strategic to inject the idea of total quality management TQM and its variants among product marketers.

strategic marketing

Strategic marketing practices on the performance of firms in Nigerian oil and gas industry, Int. We strive to be different and challenge the norm. It evolves from the interplay of the marketing mix elements and the environmental factors Li et al.

An introductory Text, Lagos:.

Strategic Marketing Management of Oil and Gas Industry: a Review of Literature

Strategic marketing, as a distinct field of study emerged in the s, and built on strategic management that preceded it. Marketing strategy highlights the role of marketing as a link between the organisation and its customers. Strategic Management Oil and Gas.

1) Critically examine the relationship and the need for compatibility between corporate strategic and functional management policies.

(2) Analyse the internal and external influences on corporate objectives and strategy. Our clients have access to more than consultants with extensive experience in oil and gas strategy, a global network of industry experts and external advisers, and broad cross-sector expertise from our Strategy & Corporate Finance Practice.

Oil and gas marketing companies appeared to specialize in the use of traditional methods of marketing, which is based on “soft” information culled from close contacts by marketing and sales department rather than the use of the specialized strategic marketing Akinyele methods that are based on “hard” quantitative information.

EMPHASIS is a strategic marketing and event management agency specialising in the energy, oil and gas, science and technology industries.

We work with our clients globally to deliver industry leading B2B marketing and events campaigns. If strategic marketing finds a product, then without the help of marketing management, the product will not get established in the market and it is vice versa too.

Thus, as the firm grows, the company needs two sub departments within marketing at all times – Strategic marketing and marketing management.

Strategic marketing management of oil and
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Marketing strategy - Wikipedia