ExxonMobil Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of ExxonMobil through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
ExxonMobil Product Strategy:
ExxonMobil has a wide range of products when it comes to the oils, which covers its product strategy in its marketing mix. The company have a large set of products when it comes to the variety of oils and lubricants. The people have come in terms with the name of the company and they can easily rely on their products. To start off with the motor oils they have Mobil 1™ full synthetic motor oils, Mobil Super™ premium motor oils & Mobil Delvac™ diesel engine oils for light- to heavy-duty trucks. ExxonMobil tailor their products to meet the needs of the customers. The product lines also extends into the lubricants for industry like mining, machining, food beverage industry, wind energy, marine fuel and lubricants. There are various sub products into these categories which cater to the individual functions of such industries. They look into all the types of products which are related to the market and needs of the customers. They look into the industry of gasoline, Diesel, Ethanol, Octane Rating. ExxonMobil has various subsidiaries through which they carry out their market. They make their presence felt in this sector through their diverse portfolio.
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This concludes the product strategy in ExxonMobil marketing mix & strategy.
ExxonMobil Price/Pricing Strategy:
Below is the pricing strategy in ExxonMobil marketing mix strategy:
ExxonMobil has a diverse portfolio of goods. The process of the products vary according to the targeted customers.
ExxonMobil has a few products which are for the customers who have a low share of wallet strength. Pricing strategy in the marketing mix is an essential component for any business. We find that the price of the products are also varied according to the technology they are used for. The high speed oils are priced high as they have to go through a lot of processing. They are the best variety one can provide. The more the technology involved in the process the higher the costs are. They also have segmented their products according to the user, there are variety for the heavy loaded vehicle and there are variety for the light weight vehicle. There are products which are like the ethanol which are priced accordingly. The main problem of pricing of the products of the company, is that the product prices are based on the price of the crude oil in the world.
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ExxonMobil Place & Distribution Strategy:
Following is the distribution strategy in the ExxonMobil marketing mix:
ExxonMobil makes its product available to almost all of USA. But the company is not happy with the supply of the products to only within the USA. It has breached the international boundaries and now is a worldwide name. ExxonMobil is available all over the world. The products which crater to which area of the usage are placed accordingly. We find that the high amount of usage of the light weight vehicle are more used in the metros, and thus ExxonMobil places their products there only, where they will extract the most of the amount of sales. The heavy weight vehicles oil are found along the highways where they are more used. That’s the most important area where we can find those products. So the places are decided after the market research.
The other products which are used are also available all around the world.
ExxonMobil Promotion & Advertising Strategy:
The promotional and advertising strategy in the ExxonMobil marketing mix is as follows:
ExxonMobil is a famous name in its field. The company still wants to make its presence felt in the world, by various advertisement. They become the sponsors for the sports event like MotoGp and F1. ExxonMobil wants to reach a larger customer base by stepping the areas of CSR activities. The company focuses on the education of young minds in subjects like maths & science. This is too increase the technical knowledge and increase their zeal for the technology. They also promote human rights and they train the communities which they serve. The company also encourage women education. This is in a way of promoting themselves among the people so that they can relate to the company and in due course increase their customer base. Hence, this concludes ExxonMobil marketing mix.
About ExxonMobil:
ExxonMobil Corp is an American based company which was formed by the merger of EXXON & Mobil in the year 1999. The company is one of the major player in the field of oil industry. The company has made its presence felt in the world market. ExxonMobil is one of the top ten companies considering the revenue. The company’s main job is to explore, produces and distributes both oil and natural gas.
The company also takes keen interest in the renewable energies and has started to look into the main areas where it can tap the renewable energies and strive for a better future with a sustainable growth. But the main aim of the company is to pay heed to their major business that is the petroleum and natural gas.
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