Chevron is an American multinational energy corporation founded in 1984 which has been engaged in every aspect of industries like oil, mining and gas etc with the production of goods i.e. fuel, lubricants, fuel additives etc. It is included in the major oil industries in the world and stated at sixth grade around the world. It’s headquartered in San Ramon California, America and is organized by John S.Watson who is Chairman and CEO. The largest merger in the history was done in 1984 by Standard Oil of California (SoCal) and Gulf Oil, at that time SoCal expanded many operating subsidiaries and sold some of the gulf stations. Chevron Corporation is the retrieved name of SoCal. In 2011, another merger was held with Atlas energy Inc. and approval was done by their shareholders and the agreement was valued at $ 4.3 billion. The slogan for chevron is human energy.
Statement of Marketing Goal
As the chevron is one of the leading energy companies and the mission is to conduct business worldwide and working for money-making growth by applying innovative technologies and capture new opportunities. Main objective is exploring, producing, manufacturing and transporting refined natural gas and crude oil and other goods like fuels, lubricants and also to generate and produce power and geothermal energy. The companies’ mission is to supply energy efficiency solutions and broaden the energy resources for coming time. In 2010, Chevron attains new safety records in their work performance.
SWOT Analysis of Chevron
• As chevron is the one of the largest oil leading companies because of which it has a strong market position.
• In businesses world, Chevron Corporation has a wide range and guidelines presence across the energy value.
• The company has the strong worldwide selling network and is selling in three basic principal brands that are Texaco, Chevron and Caltex.
• Chevron has delivered consistently financial results for many years.
• Chevron has strong brand value and reputation.
• Chevron has been among the top six oil companies since 5 years.
• It has been working on alternative energy source to reduce emissions of greenhouse gases and so far doing very well e.g.
• Chevron is the largest producer of geothermal energy which supply energy to 7 million home.
• The weakness of the Chevron Corporation was came up in 2008 when the legal actions taken by the Iraqi Government at that time Government sued 70 companies for defrauding the citizens out of food and medical provisions and in future company may faces such circumstances again.
• Crude oil and gas reserves of Chevron have been declining as in comparison with the previous years.
• Constant decline in the revenues has been noticed.
• Employees unrest in Nigeria results declining sales.
• Demand for the refined products in china is increasing in coming years.
• Capital investments are done by the chevron corporation in order to meet the growing needs of the major energy projects.[linkunit]
• Chevron is taken steps in developing non food biofuels development and for that they conducted research in universities, laboratories and also in technology based companies.
• Since, chevron has been working in alternative energy of sources therefore it could reduce the cost of energy and transfer the same impact to consumer in the form of low tariffs.
• Social corporate responsibility.
• A large number of risks are associated with developing the company outside the US.
• A lot of threats are faced by the company because of environmental regulations because global warming is affected.
• The company is also affected by the economic position of the country as in the previous years the country’s GDP was declining.
• Instability in economy of developing or third world countries.
• Insecurity due to terrorism and civil war in middle east and African countries.
Who are competitors?
There are many competitors of Chevron in the market, few of them are stated as;
• Royal Dutch Shell
• Conco Phillips
• Exxon Mobil
• Pakistan State Oil in Pakistan
Marketing objectives for the product
Marketing objectives of the Chevron Corporation are planned strategically b
• Appreciate potential partners and suppliers.
• Latest information of the company is available.
• Sales activities are supported as by understanding to build better customer businesses.
• Competitor’s business strategies, structure and prospectus are kept fully up to date.
Overall objective of the company is to broaden the services and operations. The chevron corporation is very much engaged in the production of natural reserves and oil industry, mechanized and vending, marketing and transportation, power generation and mining operations. The company is very much involved in broadening its operations by merging different competitors and developed oil industries.