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Key Success Factors analysis of British Petroleum - Case Study Example

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This paper “Key Success Factors analysis of British Petroleum” will analyze how British Petroleum or Beyond Petroleum or bp, tried to change its brand image and thereby entice the prospective customers, from the perspective of Porters 5 forces analysis and SWOT analysis. …
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Key Success Factors analysis of British Petroleum
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Download file to see previous pages Also, the paper will look at this initiative of bp from a critical point of view, thus making recommendations to improve the firm's competitive position.
British Petroleum, a British oil, and energy company got the strength and also a brand change when it ‘merged’ or ‘acquired’ with the American company, Amoco. According to the official version, British Petroleum merged with the Amoco Corporation (Amoco), forming bp Amoco in August 1998. “In 1998, Amoco and bp announced that they had merged, combining their worldwide operations into a single organization. Overnight, the new company, bp Amoco, became the largest producer of both oil and natural gas in the US.”(bp.com). Then as an exercise to further build on the already strengthened and established brand, “Amoco” was ‘dropped’ from bp Amoco, renaming it as just bp. Finally, to redefine or reorient or rebrand bp in a new direction in the changed setting due to the merger or takeover, the management of bp decided to give a new meaning to the ‘initials’, bp. So, bp started using the punning term “Beyond Petroleum” as part of building a brand, which is breaking away from the past and applicable to the organization’s global vision of providing a cleaner fuel, which is one of its major strengths. That is, bp had gone for building an image or aptly said rebuilding an image to reflect the fact, that bp had become a part of global business. So, without fully diverting from its past brand image, bp decided to use the newly acquired brand image or name for many. ...Download file to see next pagesRead More
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