Today, it continues to build on the industry 's longest track record of providing leading edge E&P technology to develop new advancements-from reservoir to surface. Schlumberger supplies the industry 's most comprehensive range of products and services, from exploration through production and integrated pore-to-pipeline solutions for hydrocarbon recovery that optimize reservoir performance. Its key Customers includes Twenty-eight customers that are currently publicly disclosed. Schlumberger is providing services for several large multinational and foreign companies including ExxonMobil, Chevron, Shell, BP, Petroleos Mexicanos, OGX Petroleo in Brazil, and Oil India Limited. The geographical diversity of its publicly listed company shows the …show more content…
Drilling Group which is the segment this paper focus on it market analysis consists of the principal technologies involved in the drilling and positioning of oil and gas wells and consist of wide range of product lines. We chose this segment because the potential of this segment, as it generated more than $2.5 billion in operating income in 2015 that is nearly 39% of Schlumberger’s total, comparing to $1.4 billion Halliburton drilling segment (best alternative) operating income. And Schlumberger’s drilling segment has around 12% global market share6. And Schlumberger’s drilling margins are the highest compare to Halliburton and Baker Hughes. Also Schlumberger acquisitions strategy enhanced the value proposition for drilling segment.
Marketing Mix
Schlumberger uses the marketing mix through the tactics to promote their drilling segment in the market. The 4Ps of the marketing mix influence each other and make up the business plan for Schlumberger to create its success. The Following are the 4Ps of drilling segment:
Product: Schlumberger drilling group consists of wide range of sub segments product lines1 that consist of Engineering & Real-Time Analysis, Drilling Services & Systems, LWD & MWD, Drilling Rigs, Drill Bits, Drilling Tools & Products, Drilling Fluid Solutions, Surface Logging Services, Solids Control & Cuttings Management, Fluids Processing, Drilling Applications, Cementing Services, Bits and Drilling Tools Fundamentals. Each
Marketing is a way to achieve the best results using the right product in the right place using the accurate price at the correct time. A related concept of marketing is marketing mix. Marketing mix is a term which was first introduced by Neil Borden in order to promote and sell a product in the market. Later, it was refined by the Jerome McCarthy in the form of 4Ps. Since then, this 4Ps are the best tools to make a strategy to market and promote a product not just in the local market but in the international market as well. It is recognized as the most valuable model to use the strength of the company to exploit the opportunities in the market. Marketing mix model unfolds many hidden strategies which are impossible to identify. By identifying the hidden areas, Bombardier can make a strategy for each
“Marketing Mix” is made up of 4P’s of marketing. This tool blends these variables together to produce the results it wants to achieve in its specific target market. “Brand Position” mentions to consumer’s reason to buy the products in preference to others.
Cross, L. (2014, March 9). Trends and Challenges for the Oil and Gas Industry | Stout Risius Ross. Retrieved November 10, 2014, from http://www.srr.com/article/trends-and-challenges-oil-and-gas-industry.
ExxonMobil is identified as one of the world’s leading oil and gas businesses. It manages market commodities and means countrywide. ExxonMobil is entail in “marketing, gas, and oil exploration, transportation and production in roughly 200 nations” (ExxonMobil, 2015). This company furnishes assistance and products under label names such as “Mobil, Esso, and Exxon. ExxonMobil is known as one of the biggest oil industrial installation where a substance is refined in the nation” (ExxonMobil, 2015). This essay discusses ExxonMobil’s strategic initiative from
The marketing mix concept often referred to as the “4Ps” (McCarthy, 1964), as a means of translating marketing planning into practice (Bennett, 1997) is one of the fundamental concepts of marketing theory. Marketing mix is not a scientific theory, but merely a conceptual framework that identifies thee principal
People have been asking for drillers so much that people are now paying thousands of dollars other people for their place on the list. Steve Arthur, Owner, Arthur & Orum Well Drilling, once said, “It’s officially getting crazy. WE go and we go but it seems like we can’t go fast enough”. Some drillers practically live in their trucks because they don’t have
Hydraulic fracturing is a process used in shale rock (especially in the Eagle Ford shale) where the rock is fractured at different stages of the wellbore to increase surface area and permeability throughout the rock. This technique is accomplished by pumping
Marketers considered the Marketing Mix model as a tool to reach their mission in the marketing strategy. Traditionally, the Marketing Mix has four considerations known as the 4P 's — Product, Price, Place and Promotion.
The Brazilian national oil company Petrobras' expansion may represent the largest global business opportunity in the oil & gas sector until 2020. The offshore pre-salt oil deposits discovered in 2006 and 2007 are estimated to exceed 60 billion barrels in probable or recoverable reserves, and could place Brazil among the world’s top ten oil-producing countries. Petrobras anticipates that it will invest $224 billion in exploration and development through 2015.
The marketing mix is a combination of 4 P’s (product, price, place and promotion) that should be used in conjunction with each other to ensure a competitive edge over other companies. ‘The marketing mix is designed to produce mutually satisfying exchanges with a target market’.
Setting the right marketing mix for the product or service means that it including all of the important bases in marketing strategy. The marketing mix is generally established as the use and requirement of the 4P’s which is describing the strategic position of a product in the marketplace. One version of the beginning of the marketing mix starts in 1948 when James Culliton said that a marketing decision should be a result of something related to a methods and he described the marketing manager as a “mixer of ingredients”.
The four P’s of a marketing mix are as follows, product, price, place, and promotion. Each of these offers a marketing parameter for the management and company team to control. With each marketing tool there are decisions that should be met as far as the business is concerned. Therefore, there is a list for each one that should be analyzed to meet the business standards.
The 'marketing mix' is a set of controllable, tactical marketing tools that work together to achieve company's objectives. The marketing mix analysis is also called 4P analysis. This analysis contains a set of controllable strategic tools of marketing which work in simultaneously to attain the objectives of an organization. In this paper we will analysis two organizations with respect to their marketing mix. The companies that I have chosen for this task are Pepsi Co and Coca Cola.
Marketing mix is one of the basic and the very important part of marketing plan. It includes all the elements that are important for an organization from manufacturing to sale of the product. It can be considered as the set of marketing tools that blends together to generate a marketing response in the market. Every organization uses this tool to make its marketing plan. Primarily it consists of 4P’s, but now it is extended to 7P’s of marketing. (Jain, 2013)