5. Marketing objectives and –strategy Different strategy/tactic­: strategy: long-term/tacti­c: short-term a) Bring examples for objectives and strategies Marketing objectives are the goals that a business is trying to achieve through its marketing. A business might have a number of marketing objectives. Ã Growth: A business might want to increase sales, revenue, profit and market share. They can increase its revenue by selling more products or charging a higher price. Both should lead to higher profits. They might launch new products. Business aiming to grow often attempt to create a competitive advantage (USP) over their rivals. Strategies: Diversification (New Products/New Market) Market Development (Existing Products/New Market) Product Development (New Products/Existi­ng Market) Market Penetration (Existing Products/Existi­ng Markets): * Increasing brand loyalty * Make consumers use product more regularly * Make consumers use more of product Ã Marketing sales and market share: A business may attempt to prevent losses and declining sales, and maintain market share, through its marketing. There are reasons why a business might do this: - when a new product is launched: new products often require marketing and promotion to break into the market and for sales to take off - to develop over the long term: some products have very long life cycles, extension strategies are often used in the
Term Paper International trade flows after the 1980s: The effects of enterprisesR­17;­ internationaliz­ati­on strategies Date submitted: 24-05-2011 Studiendepartme­nt Wirtschaft Faculty of Economics & Social Sciences Department Economics Course: Foreign Trade / International Management Outline I. Outline. i II. List of abbreviations. ii III. List of tables. ii 1. Introduction. 1 1.1 Research problem 1 1.2 Way of investigation. 1 2. EnterprisesR­17;­ Internationaliz­ati­on Strategies. 2 2.1 General Considerations. 2 2.2 Modes of Entry. 3 2.2.1 Exporting. 3 2.2.2 Foreign Direct Investment: 3 3. Effects on International Trade Flows after the 1980’s. 5 3.1 Theoretical studies. 5 3.2 Empirical analysis. 6 4. Conclusion. 8 4.1 Discussion of findings. 8 4.2 Critical Acclaim 9 4.2 Outlook. 9 IV. List of references. iii I. List of abbreviations FDI - Foreign Direct Investment FIE - Foreign-Investe­d Enterprise GDP - Gross Domestic Product MNE - Multinational Enterprise III. List of tables Tab. 1 The relationship between FDI and trade. 5 Tab. 2 FDI Flows, Total Exports, and Exports by Foreign Invested Enterprises (FIEs) 8 1. Introduction 1.1 Research problem International trade flows after the 1980s were subject to a surge in globalization caused by the fall of the iron curtain that made global exports rise starkly. International trade increased from USD 5.4 tr in 1990 (equivalent
IIFT EPGDIB 2012-14
vCritically evaluate IOCL Internationalization expansion strategy in the present context
vIdentify challenges and provide suitable strategy
International Marketing Management
Indian Oil Corporation
Indian Oil late but a sound globalization strategy using various entering modes as part of its International Market Entry Mix has been quite successful so far. It has helped IOCL achieve economies of scale in the marketing of its various products, especially its flagship Servo products.
It has helped IOCL achieve production capacity by gaining potential customers and new markets. IOCL has been able to capitalize on its global recognition at 83rd in world by making substantial investments in Sri Lanka and Mauritius and its other overseas investments. With its investments in Africa and South America, it is on the path to identify and acquire new source of oil and gas.
It has employed a host of different entering modes on account of various external factors like Market Size, Growth, Local Govt. Regulation, Political/Economical/Operational risk and its own internal factors of globalization as its key strategic objectives and availability of a highly matured R&D center, together with the advantages of being a state owned enterprise.
With its vast experience in Domestic Marketing, IOCL started with Export Marketing in Sri Lanka due to the proximity and location advantages. It made a strategic move to form WOS in Sri Lanka due to the tax benefits and special agreement with Sri Lanka government and Ceylon Petroleum Corporation (CPC).
Also, Trincomalee plant is the largest fuel storage facility between the Gulf countries and Singapore and thus would further give IOCL a location advantage.
Though we have ISLFTA in place, Sri Lanka is a politically high risk country due to the armed ethnic conflict in the past and resultant tensions between India and Sri Lanka. A stable India-Sri Lanka relationship is very important for its ongoing commercial success.
To diminish any risk in the untoward incident of souring of relationship or political instability in Sri Lanka, it would be advisable on part of IOCL to start a Joint Venture in some area in Sri Lanka with a local company there to consolidate its position and ensure long term commitment. This will help gain local support in times of crisis. It will also give advantages to IOCL to make it easy for Sri Lanka to give more unutilized storage tanks in the China .....[read full text]
Unconventional gas resources are also natural gas deposits but in a different and difficult environment from the exploitation point of view. Success of the recent specialized techniques in the United States such as horizontal drilling combined with hydraulic fracturing of the rock has led to path breaking development of shale gas as an unconventional or alternate gas resource and has considerably enhanced gas supply prospects across the globe.
IOCL views unconventional oil & gas as an area of considerable prospect. India plans to launch its first auction of shale gas block by 2013. Oil India Limited (OIL) and Indian Oil Corporation Limited (IOCL) have jointly acquired stakes in Carrizo Oil & Gas liquid rich shale assets in the Denver - Julesburg Basin in Colorado in 2012 through their own WOS and by forming a JV with Carrizo.
This is OIL and IOCL's first shale acquisition in the United States. The transaction provides a platform to the companies for additional acquisitions in North America. This acquisition will also give Indian Oil Companies a firsthand exposure to operations of shale/tight oil and gas fields and technologie.....
üOIL and IOC jointly acquire 30% stake in Carrizo’s shale assets in the Niobrara basin - Delhi, October 4, 2012: Oil India Limited (OIL) and Indian Oil Corporation (IOCL) have jointly acquired a stake in Carrizo’s liquid rich shale assets in the Niobrara basin in Colorado, USA through their wholly owned US subsidiaries.
Their first ever upstream acquisition in the USA, the two Public Sector companies today executed definitive agreements with Carrizo, a company based in Houston, Texas to enter into a joint venture. Under the terms of the deal, OIL and IOCL will acquire 30% (OIL – 20%, IOCL: 10%) in the Niobrara asset via their respective subsidiaries. Carrizo has 61,500 gross acres in the basin out of which the OIL – IOCL consortium will have 18,450 acres, spread across three counties in Texas.
üIOC launches 100% synthetic engine oil for cars - Indian Oil’s latest top-end offering, SERVO Futura Synth, a 100% synthetic premium lubricant for use in the cars, was launched here by Indian Oil’s Director (Marketing), Mr. M Nene, in the presence of a large gathering of customers from the automobile industry, OEM representatives, trade partners, resel.....
·Approval processes for domestic and overseas investments
·Looking to go for biofuel research in India with agreement with US company
·Develops technology for Co-processing Non Edible Oils in its Refinery for the first time in India
·Indian Oil and KOGAS sign MoU for LNG and E&P ventures - Indian Oil and Korea Gas Corporation (KOGAS) signed a MoU for joint participation in Exploration and Production of Gas and Oil at the global level and developing Natural Gas infrastructure projects and LNG sourcing.
·OIL and IOC jointly acquire 30% stake in Carrizo’s shale assets in the Niobrara basin - Delhi, October 4, 2012: Oil India Limited (OIL) and Indian Oil Corporation (IOCL) have jointly acquired a stake in Carrizo’s liquid rich shale assets in the Niobrara basin in Colorado, USA through their wholly owned US subsidiaries.
·Increasing its downstream assets overseas—with aim toward serving international markets
·Continue to keep focus on exporting products manufactured in India to other countries. This will not only help India but also will help IOCL establish its brand in different countries of the world
·Focus more on research in the oil and gas side for more diversified and differentiated products
·Suggest to investment & more alliances opportunity more in domestic and international market since they have the technical, brand advantage.
·Continue to Leverage partnerships with private and state owned oil companies
·Buying crude to feed domestic and foreign refineries
·Continue to diversify in both upstream and downstream assets
·Continue to spend on R & D and agreement on various technological advancement and differentiated products
·Develops technology for Co-processing Non Edible Oils in its Refinery for the first time in India - major technological breakthrough that can be a game changer for advancing use of bio-diesel in the country
·Continue to look for E & P and ventures in Ko.....