Esso Marketing Mix (4Ps) & Marketing Strategy
Marketing strategy of Esso through marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion).
Esso Product Strategy:
ESSO is one of the most prominent names in fuel and gas. Esso has various products in its marketing mix including Aviation Fuels and Lubricants, Crude Oil sales, Commercial vehicle lubricants, Industrial Lubricants, Marine fuels. Marine Lubricants, Passenger vehicle lubricants, Retail, White oil and wax. It also involves in production of Wholesale fuels, Technology licensing and catalyst. FLEXSORB developed by ExxonMobil and commercialized suite of gas treating technologies and absorbents. ESSO Fuels & Lubricants is among the world’s leading producers and marketers of asphalt (bitumen). ESSO is involved in production of marine lubricants, that includes Mobilgard 570, ECA Fuel, Mobilgard 525. ExxonMobil is one of the world’s largest integrated refiners and has an industry-leading inventory of global oil and gas resources. ESSO offers various products tailored to consumers’ needs and involves geological exploration and trades in different oil products.
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This concludes the product strategy in Esso marketing mix & strategy.
Esso Price/Pricing Strategy:
Below is the pricing strategy in Esso marketing mix strategy:
With diverse product portfolios, ESSO has adopted various pricing strategies in its marketing mix for different products. The international crude oil pricing plays important factor in deciding the pricing model to be adopted.
Esso has decided on a pricing policy that is beneficial to the company and also its investors and clients that provides positive returns for its shareholders. The petroleum products are government regulated so the government plays an important role in the pricing decisions. For premium products like premium petrol, ESSO has developed a premium pricing strategy hence charges premium to its customers. Its policies are focussed on offers that provide better returns and free-flow of cash.
Esso Place & Distribution Strategy:
Following is the distribution strategy in the Esso marketing mix:
ESSO has its presence in North America, South America, Europe, Middle East, North Africa, Subsaharan Africa and Asia Pacific. The Shop and Drive is a convenience store operated in some stations and several locations have franchised shops such as Nisa. In Canada, the Esso brand is used on stations operated by Imperial Oil, which is 69.8% owned by ExxonMobil and it provides aviation fuel services at majority of locations in Canada. In Australia, Esso operates oil and gas production and its retail petrol stations were acquired by Mobil Australia in 1990.
Esso Blue was brand name for Esso’s paraffin oil for domestic heaters in United Kingdom.
Esso Promotion & Advertising Strategy:
The promotional and advertising strategy in the Esso marketing mix is as follows:
Esso is ExxonMobil's primary gasoline brand worldwide except for other regions which include Australia, Guam, Nigeria and New Zealand where Mobil brand is used. Esso has spent a huge amount on creating brand awareness and they have used the theme “Put a Tiger in Your Tank”. Tiger was chosen as a mascot as it is recalled easily by customers and used to communicate those feelings and motorist regarded both power and play while driving. TV, print, billboards etc were used to promote the brand. Various promotional events featuring real tigers, billboards were displayed. This shows how ESSO and its parent brand are involved in branding exercise. Hence, this completes the Esso marketing mix.
About ESSO:
ESSO was founded in 1912 and it is headquartered in Irving, Texas. It is a trade name for ExxonMobil and its related companies. The Esso and the Mobil brand are the primary brand names of Exxon Mobil. The Esso brand is synonymous with hockey in Canada.
The major competitors of ESSO are Royal Dutch Shell, PLC, Chevron group, Valero Energy corporation. ESSO’s parent brand has a market capitalization of 300+ billion dollars, which produces and distributes both oil and natural gas.
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