...MARKETING MIX ELEMENTS OF RETAIL PETROL OUTLETS Australian retail petrol outlets all essentially provide the same products to the customer whether the service stations are privately owned and operated or managed under agreements with the supplying oil companies such as BP, Shell, Caltex, Mobil etc. The difference is in their ability to position themselves in the market as having an understanding of their target markets needs, wants and desires and delivering on these to create customer satisfaction and ultimately maximising their return. A useful tool to ensure successfully positioning of their offer is the use of the four marketing mix elements. The four marketing mix elements, collectively known as the four P’s include Product, Price, Promotion and Place. This report provides an overview of each element and how they are applied to retail petrol outlets; sending an overall message to the consumer about quality, cost, performance and the product’s position compared with a competing brand. PRODUCT A product is ‘anything tangible or intangible that satisfies the consumer or business customers’ needs as a result of an exchange process’. A product can be physical goods, services, ideas, people or places. A good is a tangible product that we can see, touch, smell, hear, taste or possess. Intangible products, such as services, ideas, people and places, are products we can not always see, touch, taste, smell or possess. A product has three distinct layers; the core product...
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...Introduction The following report will examine the 4 elements of the marketing mix and their relevance and importance within the retail petroleum industry. The marketing mix elements are often referred to as the 4 p’s of marketing and are product, price, promotion and place (Solomon, et al. 2011, p. 21). These 4 elements are the building blocks of an effective marketing strategy and are useful in gaining an understanding of marketing in the retail petroleum industry. This report will deal with each of these elements individually and discuss how the macro and micro environments of the retail petroleum industry in Australia affect the way marketers approach these 4 elements. Reference will be made to texts, industry reports, and an internet news article. These references will help to provide a complete understanding of the implications of the marketing mix on this industry. Product A product is ‘a tangible good, service or idea that satisfies consumer or business customer needs through the exchange process’ (Solomon, et al. 2011, p. 11). Products can be referred to as having three levels. These levels are the actual, the core and the augmented product (Solomon, et al. 2011, p. 22). An actual product is the tangible good or service that delivers the desired benefit to a customer. In the retail petroleum industry we have a number of actual products that are offered to customers. Firstly, there is petrol and diesel, as well as related products including LPG, oil and kerosene...
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...INTRODUCTION This essay reviews the role of the 4 elements of the marketing mix, and the role they each play in the retail petrol environment. The 4 elements of the marketing mix are product, price, place and promotion and collectively they are referred to as the 4 P’s. The 4 P’s are very much the foundation of marketing in in this essay I will define each of the 4 P’s and discuss their roles within the marketing mix of the petrol retail environment. This essay will then conclude with a review of the 4P’s, their relevance within the marketing mix and their overall significance within the retail petrol environment. PRODUCT Product can be defined as what is exchanged in a sale with the customer, whether that is a good, service, idea people or places. Within the retail petrol environment there are countless products, the majority of which are non-durable goods such as the core product of the outlet, fuel, and all the convenience products such as the food, drinks and entertainment products (magazines etc). Many retail petrol outlets have become stores within a store, where there is the main store that sells the petrol and convenience products, and a second store that is a fast food outlet. These stores within a store add to the appeal of outlet, customers understand that they have a greater choice and subsequently a greater chance that their needs can be satisfied. Jerath and Zhang commented that “the introduction of new products through stores within a store can bring new...
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...MINOR ASSIGNMENT MARKETING CONCEPT As one of the world’s leading energy companies Shell plays a key role in helping to meet the world’s growing energy demand in economically, environmentally and socially responsible ways. Shell has been active in Australia since 1901. Its business activities in Australia are exploring and producing oil and gas, and refining, supplying, manufacturing and marketing a range of oil products. They hold 850+ of Shell branded gas stations. With the steep hike of petrol prices around the world and the competitive prices from other oil and gas companies, what will attract consumers to choose the right retail petrol outlet to visit? Marketing plays an integral part of this question with the concept of the four P’s of the Marketing Mix on the petrol retail outlet of Shell Coles Express. A marketing mix is a combination of the product itself, the price of the product, the place where it is made available and the activities that introduce it to consumers that create a desired response among a set of predefined consumers. – (pg 21, Marketing 2 – real people, real choices. PRODUCT A product is considered to be a good, a service or a blend of both. It is not limited to just ‘physical goods’. The product area in the marketing mix is concerned with developing the right ‘product’ for the target market. The Shell brand is known for high performance through the motor sport industry from providing its products to the...
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...Australian retail petrol stations are operating through a network of different major oil company such as BP, Shell, Caltex, Mobil etc. Some are privately owned and operated; some are agents operating the service stations under an agreement with the oil companies; many are owned by those companies. They all provide essentially the same products to customers; the difference lies in their locations, value added service and their marketing programmes. The fuel price levels vary between service station operators due to “the location, quality or the price policies of the operators. Australian’s oil industry has some unique characteristics and very competitive local environment. Therefore, in many cases petrol suppliers use the lens to focus the elements of marketing mix so that the consumers receives an overall message about quality, cost, performance and the product’s position compared with competing brand. 2. Elements of Marketing Mix Marketing mix is the term used to describe the combination of the four inputs: the product, the price structure, the promotional activities, and the distribution system that the firm uses to pursue the sought level of sales in the target market. 2.1 Product The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user's needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees,and support. The product mix includes the followings...
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...up the elements of marketing mix. The numerous competitors that Caltex compete for market share are BP, Coles Express, Mobil, Shell Woolworths and United Petroleum in the retail environment, Product A product can be a physical object, services, persons, places organisations and ideas. The nature of a product can be tangible for instance a vehicle, and non tangible, a service. A product has the capability to satisfy a consumer’s wants and needs.2 (MAANZ Glossary) There are three distinct layers that make up a product with the first being the “core” product which is the intangible benefit or service received by the purchaser from using the product, The next layer is the actual product which is the product itself or the service being rendered. The actual product unique features supplies the core product benefit. The combination of the actual product and its other features of value the product has to offer is the augmented product layer. “A product is everything beneficial that a customer receives in an exchange”.3 (Solomon, et al. 2011, p.183). By determining the main product the retail petrol outlets sell, petrol, we can further classify petrol as a non-durable product as it provides a benefit over a short period. The frequency the consumer purchases petrol could also be in the category of convenience products. 4 (Solomon, et al. 2011, p. 186). The actual product is the physical product being petrol which includes unleaded petrol, E10 unleaded petrol and LPG fuel. It is...
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...introduces the four elements that constitute the makeup of the overall marketing mix and then applies them to the practical real world workings of the Australian automotive fuel retailing industry – retail petrol outlets. The four elements making up the overall marketing mix include product, price, place and promotion. Collectively they are referred to as the four P’s of marketing as their significance makes them the very foundations and building blocks of marketing. This report affords each individual element its own discussion section opening with the definition of the discussed element before delving deeper into what each element brings to the overall marketing mix and ultimately applying them to the retail petrol industry. MARKETING MIX PRODUCT A product is ‘anything tangible or intangible that satisfies the consumer or business customers’ needs as a result of an exchange process’. A product can be physical goods, services, ideas, people or places. A product has three layers beginning with the core consisting of the benefits that the product provides for consumers (or business customers), the actual product, that is the physical good or the delivered service that supplies the desired benefit and the augmented product which is the ‘actual product plus other supporting features’ (Solomon, et al. 2011, p. 181-185). In the automotive fuel retailing industry, Convey (2011, p. 11) found that ‘retail sales of petrol and diesel, together with related products, such as LPG, oil and...
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...INTRODUCTION In the competitive market organisations operate in today, at the forefront of organisation goals is to remain profitable and maintain or gain market share. To achieve this organisations must find ways to engage customers and present goods or services that will ultimately deliver customer satisfaction. In order to successfully position their offer in today’s dynamic environment, organisations employ the use of the marketing mix. This report discusses the four components that form the composition of the marketing mix, commonly referred to as the four P’s. These four components include, product, price, place, and promotion. They are considered the very building blocks of marketing. Each component is explained and applied to the functions of Australian retail petrol outlets, which will provide a solid understanding of the significance of the marketing mix in the market. THE MARKETING MIX PRODUCT The product is a combination of many different components, all of which attribute to its success within the market. A good, service idea or place a product is anything that can be offered in an exchange, that meets the customers needs or wants. Products can be tangible (physical item that can be touched) or intangible such as a service. Products are usually referred to as having three layers, a core, actual and augmented. In the core are all the products benefits to the consumer. The actual describes the product itself. The augmented are the features or additional...
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...Marketing Plan - Coca Cola Executive Summary [pic][pic][pic][pic][pic]The Coca-Cola Company was first established in 1886 by Dr John Styth Pemberton. Today, the company is the world's leading manufacturer in the beverage industry, operating globally in more than 200 countries with its head office located in Atlanta, USA. It produces more than 300 beverage brands and over 1.06 billion drinks are consumed per day around the world. Mission Statement The Coca-Cola Company's mission statement is: 'Remind Coca-Cola is the read thing' but their motto now has changed to 'To benefit and refresh everyone who is touched by our business.' Also Coca-Cola would hope to provide the best quality drink for everyone, all the employees working for them being at their top and fulliest. Marketing Marketing is the role used by the business to plan, price, promote and distribute products/services to individuals. The Coca-Cola Company's marketing includes: (i)Situational analysis (ii)Target Market (iii)Objectives/Goals (iv)Marketing strategies and the marketing mix (v)Monitoring & Controlling (i) Situational Analysis The Coca-Cola Company has been operating for over a century and is highly successful. It is currently in the renewal level of the post-maturity stage in the business life cycle. This is shown in Fig. (10). Sales ($) Fig. (10) The Coca-Cola Company's business life cycle SWOT Analysis Strengths (S)Weaknesses...
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...Marketing Mix: Coca Cola Any business must consider the marketing mix. This is a combination of factors that helps a business sell its product. There are a total of seven parts to the marketing mix: Price, Promotion, Place, Product, People, Physical Environment and Process. The ones in bold are the four main ones and the ones often referred to as the ‘4 Ps’. Throughout this essay, I will be using my reference to ‘Coca Cola’. The Coca-Cola Company is the world's largest beverage company, largest manufacturer, distributor and marketer of non-alcoholic beverage concentrates and syrups in the world and is one of the largest corporations in the world. The company is best known for its flagship product Coca-Cola, invented by pharmacist John Stith Pemberton in 1886. The Coca-Cola formula and brand was bought in 1889 by Asa Candler who incorporated The Coca-Cola Company in 1892. Besides its namesake Coca-Cola beverage, Coca-Cola currently offers nearly 400 brands in over 200 countries or territories and serves 1.6 billion servings each day. The company operates a franchised distribution system dating from 1889 where The Coca-Cola Company only produces syrup concentrate which is then sold to various bottlers throughout the world who hold an exclusive territory. The Coca-Cola Company is headquartered in Atlanta, Georgia. Its current chairman and CEO is Muhtar Kent. {draw:frame} Its motto is 'To benefit and refresh everyone who is touched by our business.' The Coca Cola...
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...MINOR ASSIGNMENT Task: 1500 word report Contribution: Individual Marks: 20% of unit total Deadline: Week 5 – Friday 28 December 2012 Task Description: Report Write a 1500 word report describing the 4 marketing mix elements and discuss how these are applied to retail petrol outlets. Purpose The assignment is designed to: * encourage you to think about how the marketing mix tools are used in the marketing process, * help you critically evaluate how marketing decisions can affect you as a consumer, * help you develop skill in conducting research online and using citations effectively. Assignment format The report must include: * Swinburne cover sheet – available under Other Materials on Blackboard * Title Page which must show title, unit code & name, student name & ID number, tutor name, word count & date It must be written in a professional manner and have been spell-checked and proof-read. Suggested report structure is: * Introduction - approximately 100 words on the focus of the report * Marketing Mix – approximately 300 words on each of the marketing mix elements * Conclusion – about 150 words summarising the key points of the report * References – 4-5 references including text book, appropriate business websites. Extra marks will be awarded for use of articles from academic journals which can be accessed via the Swinburne Library website. Do make use of appropriate headings – this helps organise your thinking as well...
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...1 PETROL PUMPS (RETAIL OUTLETS) • What are Retail Outlets / Petrol Pumps ? • What is available at Retail Outlets ? • What are Petrol / Diesel / CNG / Branded Fuels ? • What are the mandatory facilities / services available at Retail Outlets ? • How Quality / Quantity are maintained at Retail Outlets ? • How to lodge a complaint ? The answers to the above queries are given below : 1. What is Petrol Pump ? • The most common point of contact of customers with Oil Industry is the Petrol Pump. In Oil Industry parlance, Petrol Pumps are referred to as Retail Outlets (ROs). • As per the existing Government policy, Petrol Pumps can be set up by Public Sector Oil Companies as well as Private Sector Oil Companies dealing in storage and distribution of petroleum products as per guidelines. Presently, the Oil Companies engaged in retail business of automotive fuels are IOC, HPC, BPC, NRL, MRPL, ONGC, RIL, Essar and Shell. 2. Products Marketed at Retail Outlets : • Petrol, in technical language is called “Motor Spirit” (MS). It is mainly used in passenger vehicles such as 2 / 3 wheelers and cars. At present, HPCL markets two types of Petrol across the country, i.e. normal Petrol and branded Petrol. 9 ú Normal Petrol: Normally used as a fuel for spark ignition internal combustion engines such as passenger cars, two wheelers, three wheelers, etc. ú Branded Petrol: This is preferred...
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...with his wife and his two brothers contribute RM90, 000 of capital to start operate their first home appliance business. After they run their business on first 7month, they have earn some profit out of their expectation, therefore they can opened second branch at other area. However, Lim Kim Heng would like to upgrade the business level of his company, so he go to aboard to observe the foreign company and try to carries on the foreign business principle in his own company. Finally he successful to help the company earn the 3million 7 thousand and he expected year of 2009 will increase their profit to 10million. “The future expansion strategy will include improving the competitiveness of existing store to expand the number of outlet from the current 82 until 100,” Lee Kim Heng. 1.1 The Nature of Business SenHeng Sdn Bhd is the retailer of provide the variety home appliance which is consumer electronic items, communication equipment, computer and Accessories. Therefore, Senheng as a role of the middlemen, deliver the product from the supplier to customer. For the previous time, the price oriented is one of the important strategies for the retailer business. In the retailer industry, they will competing with the competitor price, because all the retailer also agree that cheaper price will attract a lot of new customer come to purchases their product. Moreover the retailer will offer the lower price as much as they can. Senheng try to differentiate with...
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...customer which it is different from supermarket. People are getting busy in daily life with works and has no time to go to supermarket everyday and that triggers them to approach the convenient store. With many outlets and easy to access 24/7, 7-Eleven welcomes every customer to get their daily needs. We are providing groceries, snack foods, candies, instant foods, drinks, reading materials, and also services such as prepaid reload and ATM service where customers can fulfill their daily needs even though they don’t have time to shop. All of our 1,497 stores are open 24 hours everyday out of 7 days in a week to assure that customers can get anything they need anytime and anywhere. We create a simple and convenient as an adjustment toward people’s lifestyle, which is very mobile and active. With our motto, 7-Eleven will Always There For You. Company Description History Founded in 1927, 7-Eleven is known as The Southland Ice Company in Dallas, Texas whom the founder is J. C. Thompson. It was started as an ice vendor which eventually began offering milk, bread and eggs on Sundays and evenings when grocery stores were closed. The idea managed to satisfy the customer and also increased sales of the company. (7-Eleven Malaysia Sdn. Bhd., 2010) The first company’s convenient outlets were known as Tote’m stores which named since customers ‘toted’ away their purchases. It became 7-Eleven when the stores extended its business hours from 7 a.m. until 11 p.m. and open seven days a week. The...
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...TERM PAPER ON MARKETING STRATEGIES OF MARUTHI SUZUKI SWIFT Introduction: 4 wheeler industry today is consider to be highly demanded industry as the population and the cost of living have increased. This reports highlights all the outcomes of 4 wheeler industry particularly referring to swift car which is the most popular ever demanding car of the recent years. Swift car is popular among the young generation because of its unique features such as style mileage comfort and price. This report highlights Micro macro Analysis, survey on purchase decision making process, Marketing mix strategies, STP strategies, and CRM practices Maruti Suzuki: Maruti Suzuki india limited, commonly referred to as Maruti is a subsidiary company of Japanese automaker Suzuki motor Corporation. It has a market share of 44.9% of the Indian passenger car market as of march 2011 Maruti Suzuki offers complete range of cars from entry level Maruti 800 and Alto, to hatchback Ritz, A-Star, swift, Wagon-R, Estillo and sedans Dzire,SX4, in the ‘C’ segment Maruti Eeco and Sports Utility vehicle Grand Vitara. It was the first company in india to mass-produce and sell more than a million cars. It is largely credited for having brought in an automobile revolution to India. It is the market leader in India, and on 17 September 2007, Maruti Udyog limited was renamed as Maruti Suzuki India limited. The company’s headquarters are located in new Delhi. In February 2012, the company sold its 10th million...
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