Essay About Service Maintenance And Deregulation Of The Downstream Oil Industry

Hpcl 2030 Petrol Retailing
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[pic 1]Table of ContentsIntroduction        3Methodology        3Marketing research        4Analysis        7Reasons        71)        Service maintenance in Dealership based model        72)        Less recognition of loyalty services launched        73)        Undifferentiated services        7Innovations and Improvement        8Innovation in Services        8Innovation in targeting customers        10Improvement in promotions        10Improvement in implementation of services        11Conclusion        11Introduction- Petrol retailing, being one of the biggest retail chains in India, has started evolving itself from a basic barter to more of a service based retail. With the increase in income levels of our population and globalisation, we are looking forward to grab this opportunity as one of the leaders in petrol retailing to take it a step further and look forward to creating a better engagement with the customer by providing a value addition to them. Since the deregulation of the downstream oil industry, there is an immense increase in competition and following changes are being made in the strategies:• Focus is shifted from the urban to highways and sub-urban areas. • Increase in communication with the customers in the media and onsite • From fuel dispensing only to multi product selling • From commodity selling to brand marketing • From direct controls to third party audits – these certifying agencies require their own infrastructure Though there are a number of facilities that are being floated by fuel retailers in the country like ATMs, tyre pressure checker etc., but still there is a lot that has to be done. Methodology- We first, with the help of a market research, have tried to find out the major needs and crucial factors for the customers by understanding their buying behaviour. Based on this research, we have suggested some steps that can help us in enhancing the consumer engagement and creating a brand identity for HPCL. The paper on a whole tries to figure out the lacking points in the current strategies which leads to apparently very less differentiation between the fuel service providers and suggest a new strategy to curb the same.Marketing research Sampling method was used to collect the pertinent data from the respondents for convenience sampling. The study was conducted in and around Bhopal town. The survey was done taking a sample size of 50 respondents. Following is the data regarding the profile of the respondents and their responses against various questionnaires:                                                                                     Table 1:  Respondents ProfileOut of 50GenderMale40Female10Age18-252526-4020Above 405OccupationStudents20Service2Profession7Business14Agriculture2House wife5Monthly Income< Rs.500011Rs.5000-  Rs.1000020Rs.10000- Rs.1500012Rs.15000- Rs.200004> Rs.200003            Table 2:    Preference Of Special Branded FuelPreference ofNumber ofPercentageBranded FuelRespondentsSpeed816Power714Extra premium24Speed diesel–Extra mile speed48Turbo jet speed24None of the above2754Total50100From Table 2, it is clear that 54% of the respondents didn’t prefer any branded fuel following that 14% of the respondents prefer power, 16% of the respondents prefer speed, 8% of the respondents prefer extra mile speed, 4% prefer extra premium, and 4% of the respondents prefer Turbojet speed. Thus, it can be concluded that the majority of the respondents didn’t prefer branded fuel in this study area.