ExxonMobil Corporation, one of the biggest Petroleum and Petro-Chemical companies in the world. They achieve superior results in regards to operations and financially. They also adhere to business conduct in a higher standard.
In this assignment, we will discuss two things. First we will see how the macro-environment has influenced its marketing decision-making. Secondly, we will see how the marketing mix used by the strategists helps to gain competitive advantage over its competitors.
ExxonMobil is one of the worlds largest Premier Petroleum and Petrochemical Industry. The ExxonMobil Corporation was rated as No.1 US Company for the year 2009 by Fortune 500. The ExxonMobil has developed from regional marketer of kerosene in the United States of America to the biggest publicly traded Petroleum and Petrochemical industry in the world. The mission statement of the company is “Taking on the world’s toughest energy challenges.”
Today, ExxonMobil operates in different part of the world with their well-known brand names like “Esso”, “Mobil” and “Exxon”. The products that are made are petroleum products and helps for the ‘modern transportation’, ‘lubrications’, and ‘powers cities’. The chemical blocks produced by them are used in thousands of consumer goods.
History of the ExxonMobil Corporation:
The history of the corporation starts long back in 1859. In that year, Colonel Edwin Drake and Uncle Billy Smith drilled the first oil well in Titusville, Pennsylvania. In 1870, Rockefeller and associates formed the largest refining firm in the world, “Standard Oil Company”.
In the year 1879, the Standard Oil Company purchased a three-quarter interest of Vacuum Oil Company. In 1882, Standard Oil Trust was formed which included Standard Oil Company of New Jersey (Jersey Standard) and Standard Oil Company of New York (Socony).
In 1903, both the Jersey Standard fuel and MobilOil lubricants from Vacuum were used by the Wright brothers for their historic flight. In 1911, the Standard Oil Trust was broken into thirty four unrelated companies which included Jersey Standard, Socony and Vacuum Oil.
In 1926, Jersey Standard brought a new blend of fuel in the name of “Esso” with the phonetic version of the initials of Standard Oil (‘S’ ‘O’). In 1966, Vacuum Oil celebrated its 100 years and changed its name to Mobil Oil Corporation. In 1972, Jersey Standard officially changed its name to Exxon Corporation.
In 1982, Exxon celebrated its 100 years since the formation of Standard Oil Trust. In its first 100 years, the company has innovated and implemented new technologies in the field of Petroleum and Petrochemical products. It has grown from a regional distributor to a multinational corporation.
On November 30, 1999, Exxon and Mobil joined together to form the ExxonMobil Corporation. Lee Raymond and Lou Noto said “This merger will enhance our ability to be an effective global competitor in a volatile world economy and in an industry that is more and more competitive”.
Before we look in to the macro environment of ExxonMobil Corporation, it is necessary to know what marketing is. The Chartered Institute of Marketing (CIM) has rightly defined marketing as “the management process that identifies, anticipates and satisfies customer requirements profitably”.
Many authors have also defined marketing. Kotler defines “Marketing is the social process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others”.
Generally, marketing aims at the customer satisfaction at present and in the future at a profit.
Marketing Environment involves all the activities that affect the growth of the...