Marketing Of Petroleum Product In Nigeria (Case Study Of Oando Petroleum Plc Iloin Depot)
Petroleum product is an industrial product from which so many sub-products are been produced or manufactured. Such as Petrol chemical, petroleum, kerosine etc. Among these products, petroleum serve as form of national product because it being consumed by all Nigerian.
This project is sub-divided in to five chapters. Chapter one consists of introduction, historical background objective of the study, scope and limitation of the study, significant of the study etc. Chapter two consists of literature review, development of Nigeria oil industry, Nigeria government involvement in oil business etc. Chapter three consists of research methodology. Organization chapter, structure layout and administration machinery, nature, pattern and strategy of oil marketing in Oando petroleum PLC etc. Chapter four consist data analysis and interpretation, test of hypothesis. and Chapter five consists summary of findings, recommendation, conclusion and reference.
1.1 Background of the Study
The discovery of petroleum has taken place for about one hundred and fifty years ago, that was 1859 when the first underground oil was drilled in the United State in Titusville and Pennsylvania.
Petroleum is different from other oils, because it is being manufactured from mineral source rather than animal and vegetable. The source from which petroleum comes from distinguish it from other kinds of oils, since it has been discovered as the valuable product in the world, there was modern technology on the consumerism of petroleum energy which made the product probably to become the most valuable.
Since petroleum is the most widely used source of energy in the world due to the industrialization development and also because a nation blessed with petroleum is economically well positioned because the product is very significant in the nations development. Petroleum is very important and popular base on the fact that, it produces energy in the operation of machines for the use of mankind.
The oil product is used in lubricating most machines in different industries to have long lifespan and it is also used to powered most form of transportation, like ship, train aero plane etc.
The work of exploration and exploitation of petroleum involve geologist who discovered the oil exploitation to be a risky business. The first oil well was only sixty percent (60%) deep, under normal circumstances a well must be drilled before the possibility of a settlement of oil at a particular location can become certainty.
The techniques used in drilling oil well is cable tool which is still the same as the one used for the first oil well in the year 1959, mean while, after the oil must have been ascertained to be in a particular oil well, it is passed to the storage tanks to be refined and later for marketing.
1.2 Statement of the Problem
Petroleum serves as form of natural product, but it could have not been discovered if not for the assistance of some geologists who worked on oil exploitation.
Moreover, the marketing of petroleum products serve great advantage to the nation most especially the Nigerians, because this product could have been of no advantage a benefit to the poor people if not because it has been introduced into the market and to be marketing in the best possible way in which people can obtain it easily for their use.
1.3 Objectives / Significance of the Study
The objective is to find out the importance of marketing of petroleum, products in Ilorin depot and to also study why Oando petroleum as an independent marketer finding it some how difficult to get its allocation from NNPC depot in Ilorin to its final consumers.
To get some basic information on how people choose to buy Oando petroleum product.
One have to analyze and conclude on the marketing of Oando petroleum product in Ilorin and also to find out why Oando petroleum have the largest market share in Ilorin town and factors responsible for it.
The choice of the topic marketing of petroleum product as a case study of Oando petroleum Ilorin depot, have made it from their major objective.
- To make this project is also significant to the oil company in the sense that apart from Oando petroleum, other oils companies such as National oil, Chevron, Exton Scan also find the research useful in their business.
- The study is also significant in the sense that Oando petroleum may find the findings recommendations and suggestions made in the study useful in its future operation.
- This project is also significant in the sense that it highlights the implementation process of attaining high standard of living of marketing of petroleum product. In Nigeria and how government implements could be removed by the process of marketing research which will generally lead to high standard of petroleum product and thus result to the growth of the Nigeria’s oil industry which is basically the backbone of Nigerian economy.
- To pursue my academic alternative that is in partial fulfillment for the Award of Higher National Diploma in Purchasing and supply.
1.4 Scope and Limitation of the Study
For the purpose of accuracy and easy collection of data, this research is restricted to the operations of Oando petroleum Ilorin Depot.
The study course the concepts of marketing of petroleum product in Ilorin, concerted efforts are made on the study concerning the marketing of Oando petroleum within Ilorin in order to know all their activities and operations also to study how they market their product and equally know their location.
Also, the intentions of the product critically examine, analyze and appraise the operation fat Oando petroleum PLC, Ilorin depot, with the view to generating an oil product marketing in Ilorin and their contribution towards the development of Ilorin town.
Furthermore, the project will be of immense important to petroleum product marketers and the generality.
Limitation of the Study
One of the major limitations of the study is collection of primary data such as Observation, interview and questionnaire as an instrument of concrete records. The other includes validity of secondary data which were used in the writing of the research project. The manual analysis of data collection for the research project is another limitation concerning marketing of petroleum product In Nigeria.
1.5 Definition of Key Terms
Human activities directed toward satisfaction and want through exchange process.
The set of all activities and potential buyers of product and services.
Is a set of tangible and intangible attributes including packaging, colour, size, price manufactures and retailers which the buyer may accept as offering want satisfaction.
These are goods meant for the further production and reselling services.
These are goods that are made specially for final consumer.
This means the regenerating of company in terms of its product life cycle, the promotion strategy for any product that are influenced by product life cycle.
The systematic problem analysis model building and fact finding for the purposes of completing the research.
It is the data which already exist somewhere having obtaining it through books, trade journals, magazines subjects, publication, trade fairs, seminars. etc.
Summary of Findings, Conclusion and Recommendation
5.1 Summary of Findings
Based on the data analysis, the following findings were made.
- The research work helps in avoiding unnecessary losses, that would have occurred if happened that decision are been made any now.
- It helps in making effective implantation on marketing concept of Oando petroleum plc and it should also be applied to these findings about four Ps that is product, place promotion and price.
- It is through findings that Oando petroleum Plc attain corporate objective with the aim of conducting market research.
- The study further reveals that standard of product offered by the company were of good quality and high standard compared to other petrol chemical product and be maintained.
- The company should assist their distribution by providing more transport facilities for the purpose of making effective distribution.
From the findings of this research work and what has been achieve by various workers on the marketing of petroleum product. It has been confirmed that marketing research is necessary for company to increase sales and make more profit and as well as solving and marketing problem.
- Petrol chemical companies involved in the marketing research base on the fact that their product need serious research so as to able to develop.
- Knowing oando petroleum plc as one of the major marketer that have highest market share does not stop them from establishing more market strategies to attain more profit.
- Government should try to assist petrol chemical industries in the area of marketing concept mostly in the area of distribution of product throughout the nations.
The researcher finally concludes that marketing concept is made very important to both private and pubic sector while talking of business activities.
Based on the analysis carryout in chapter four, it is obvious that the roles that market mix play in marketing of petroleum products and decision made in solving marketing problems cannot be over emphasized. Any organizations with open system can not operate in isolation. It must interact with its environment. In particular this organization as a marketing concern have to involve in marketing research, because it provides basic interaction and also reveals how customer can be better served.
Philip kolter (1993) defined marketing mix as the set of controllable variables and the levels that the firm uses to influence the target market. The variable otherwise refers to as 4Ps of place, product, price and promotion.
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