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Introduction Of Exxon Mobil Case study

Exxon Mobil Corporation is mainly a global oil and gas-based corporation of American origin that has its headquarters in Irving, Texas. The company has gained the position of biggest and direct descendant of Standard Oil which is an organization by John D. Rockefeller. Exxon Mobil was mainly formed after the merger of the companies named Exxon and Mobil that were mainly used as the retail brands along with Esso for the purpose of fuelling stations and the various downstream products. Exxon Mobil was mainly incorporated in New Jersey and its ancestor was mainly Vacuum Oil Company. Exxon Mobil is also the biggest company of the world based on overall revenues and profit margins. 

Introduction Of Exxon Mobil Case study

Vision and Mission Statement of Exxon Mobil

The mission statement of Exxon Mobil states that “Exxon Mobil Corporation is committed to being the world's premier petroleum and chemical manufacturing company. To that end, we must continuously achieve superior financial and operating results while adhering to high ethical standards.” The vision statement of Exxon Mobil states that “to safely and responsibly meet the world’s growing needs for energy and high-quality chemical products.”
 

Vision and Mission Statement of Exxon Mobil

Exxon Mobil Situation Analysis

The situational analysis of Exxon Mobil is based on the different external and internal aspects that can provide details regarding changes that have taken place and their impact on the overall organizational operations. The reputation, size and levels of investments made by the company are major aspects that are considered to be a part of the situational analysis. The strengths and the weaknesses of the company and the strategies that have been developed for maintaining future operations are also discussed as a part of the situational analysis process. The difficulties that are faced by the company based on their international operations in different parts of the world are a part of the situational analysis framework. The other aspects that are a part of the situational analysis include research and development, rational segmentation and the diversification of products. 

Industry Structure and economic feature

The oil and gas industry is mainly considered to be the biggest sectors within the world based on dollar value and thereby generating around 5 trillion dollars as global revenues in the year 2022. Oil is considered to be a crucial part of the economic framework on a global basis as it impacts transportation, electricity, manufacturing and industrial production. The investors in various parts of the world have shown their interest towards entering the industry of oil and gas. The production process of oil and gas is considered to be a multi-stage method that is quite complicated in nature and has an impact on the strategies being implemented by the organizations. 

Exxon Mobil Strategic

Business Level Strategies 

The business level strategy that has been implemented by Exxon Mobil is mainly based on working towards the creation of sustainable solutions that can improve the quality of the lives and meeting the evolving needs of the society. The organization mainly aims at protecting people, the communities and the environment within which it is operating. The business strategy of the company is focussed towards the core competencies that include the strong research and development platforms, product diversification, economies of the scale and vertical integration. Business level strategies of Exxon Mobil have been effective for the company as it aims at providing value to the customers and thereby gaining the competitive advantage by exploitation of the core competencies. 

Corporate Level Strategies

The corporate plans and strategies that have been implemented by Exxon Mobil has aimed at supporting the potential cash flow, reduction of emissions and doubling the earnings. The organization has planned to spend around 15 billion dollars on the reduction of the emission of greenhouse gases. The plans are also support the corporate level strategy formed by the company that is mainly related to the structural cost savings, investments in the low-cost supply and the lower-emission products. The plans related to capital investments that can be made by Exxon Mobil are also a major aspect of the corporate level strategy of the organization. 

Competitive Analysis and Advantage in the industry


The total revenues reported by Exxon Mobil had increased in third quarter of the year 2022 by around 51.89 percent each year. Revenue growth of the company was lower in comparison to its competitors and average growth had been 53.61 percent. Net margins gained by the company were 18.02 percent and profitability levels of Exxon Mobil were lower in comparison to other firms. Exxon Mobil thereby faced major levels of competition in the industry due to which its revenues and profit margins have been low and the competitiveness in the environment had also increased. The major competition that is faced by Exxon Mobil is mainly related to the purchase or sales of the required services and goods in various international and national markets. 

SWOT Analysis

Strengths


The diverse brands like Coolanol, Esso and Speedpass that operate under umbrella of Exxon Mobil are a part of the various areas within the energy industry. The reputation and brand name developed by Exxon Mobil are based on the expertise and experience of the individuals. The research and development activities being performed by Exxon Mobil are a major strength of the company that enhanced its technologies and has decreased the carbon footprint developed in different parts of the world. The wide range of the consumer products being offered by Exxon Mobil also prove to be strength of the company. 

Weaknesses 

The social impact of oil companies towards increase of pollution in the environment is a huge weakness faced by Exxon Mobil. The net losses of the company in 2020 have proved to be a weakness of the company. The strong policies and government regulations are able to influence the operations and efficiency of Exxon Mobil and it is a weakness that is being faced by the company. The issues related to ethics and human rights have led to various lawsuits and have provided allegations towards violations of the human rights. 

Opportunities 

Exxon Mobil can gain the opportunity of implementing the strategies related to net zero emissions that can reduce its impact on the environment. Exxon Mobil can also form its positive image in the industry by using this opportunity. The increase of green demand and enhanced global expansion related to entry into the new countries and locations is considered to be an opportunity being faced by the company. The opportunity related to sustainable development is also an important aspect that can improve the position of Exxon Mobil in the industry.      

Threats

The lawsuits faced by Exxon Mobil in different markets is a major threat that has influenced its image in the industry. The climate changes and increasing demands for eco-friendly fuel is also threat related to the business operations of Exxon Mobil in the industry. Political volatility and intense competition are other threats being faced by Exxon Mobil in different markets and countries. 

PESTLE Analysis

Political factors –

Exxon Mobil has its operations in various countries and the government policies and capacities are different based on which the company can aim at developing the strategies. The political unrest in different companies can affect the operations and revenues of the company. 

Economic factors –

Economic aspects can affect the operations and decisions made by Exxon Mobil and the countries that offer high rates of interest can attract the firm for making investments. Covid-19 pandemic has increased uncertainties in the environment and this has a negative influence on revenues of the company. 

Social factors –

Social factors that are mainly based on the cultural aspects and norms can influence the types of products that can be offered by Exxon Mobil. Changes in consumer behaviour of the customers of Exxon Mobil is a major social aspect that can influence the strategies and sales of the products. 

Technological factors –

The technological advancements in the different countries have increased the importance of social media for marketing and promotional activities of Exxon Mobil. The demands of consumers are also influenced by the shifts in processes and advancements that have taken place in the systems of energy storage. 

Environmental factors –

The growth in concern related to global changes in climate and increase in levels of pollution are considered to be major environmental aspects that influence the strategies of the company. 

Legal factors –

The laws related to anti-discrimination and human resources influence the strategies of Exxon Mobil. The strict regulations and rules that are a part of various countries have an impact on the profit margins or revenues of the organization. 

Target Market Analysis of Exxon Mobil

Demographic Characteristics of Market 

The customers of Exxon Mobil belong to various age groups who require the high-quality oil-based products. 

Psychological Characteristics of the Market 

The psychological characteristics of the target customers of Exxon Mobil are related to their personality and the overall emotional state depicted by them towards the products being offered to them. 

Behaviours of the Target Market 

The target market of the company is focussed on the oil products. 

Strategies Appealing to Market

The growth strategy of Exxon Mobil appeals to the market. 

Marketing Mix of Exxon Mobil

Product Strategy (Product Mix) 

The various business units that offer products under the name of Exxon Mobil include deepwater, unconventional, liquified natural gas or LNG. Value chain of the company aims at exploring, development, marketing and production activities. 

Pricing Strategy 

The prices of products offered by Exxon Mobil are influenced by the taxes, production levels, demands and the government policies. The wide range of the products that are offered by Exxon Mobil are thereby priced based on the demand levels and the production costs. 

Promotional/ Advertising Plan

Exxon Mobil is considered to be a well-known brand in petrochemical industry and the overall global presence has been effective in enhancing the sustainable operations of the business. Investments made in CSR and digital marketing activities are an important aspect of the promotions. 

Exxon Mobil Competitive Analysis

4Ps’ comparisons with competitors – 

Product –

Similar products are offered by the competitors of Exxon Mobil and are able to fulfil needs of customers. 

Price –

Competitors of Exxon Mobil have implemented similar pricing strategies for gaining revenues in the industry. 

Place –

The distribution and supply chain of the competitors are more effective in comparison to the distribution of Exxon Mobil. 

Promotion

The promotional activities of the competitors are able to provide major levels of revenues to them and have reduced the profits gained by Exxon Mobil in the highly competitive industry. 

Strengths’ comparisons with competitors 

Research and development are done by competitors. 

Weaknesses’ comparison with competitors 

Lawsuits are not always faced by other companies. 

Organization’s Competitive Advantage

Competitive advantage of Exxon Mobil is based on large portfolio of products. 

Key success factors

Success factors of Exxon Mobil are based on prices of the products. 

Financial Analysis

The revenue growth of Exxon Mobil is higher in comparison to the competitors.

Problems and Issues in Exxon Mobil’s Organization

The lawsuits and unethical practices are major issues in Exxon Mobil. The huge negative impact that the company can have on the environment is also considered to be an issue that Exxon Mobil is facing based on the manufacturing of its products in the industry. Moreover, the lack of sustainability in the business operations and negative image in the sector is also a major factor. 

Conclusion

The successful operations of Exxon Mobil are mainly based on the strategies implemented by the company and the position that it has gained in the sector. The overall strategies that Exxon Mobil had implemented for the purpose of ensuring that the company can reduce its impact on the environment are also effective for the future sustainable operations that can be maintained by the company. 

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