Marketing of Tasweeq in Qatar - Essay Example

Running header: Marketing Paper Tasweeq in Qatar Tasweeq is an abbreviation for Qatar International Petroleum marketing company (LTD) which is one of the areas of marketing centre of excellence, providing a superb intelligence to ensure the delivery of Qatar’s energy to the entire globe. The company is working in partnership with Qatar’s Oil and Gas industry including government sectors and the producing entities. The company ensures the delivery of a proper regional market research to the local industry that also supports various decisions taken by the government besides supporting the development of the national resource in marketing. Tasweeq also envisions itself to be the premier source of regional and global oil and gas logistics and marketing information. (Tasweeq in Qatar, 2015) The current marketing strategy of the company is ensuring that there is clear implementation of the Tasweeq business model. Its main concern is to ensure the identification of customers, development of workable sale proposals, ensuring that there is a clear conducting and tendering of the customers negotiations besides coordinating and scheduling various lifting activities with the customer. The company also ensures that there is a clear operational and contractual documentation; by ensuring tat all the necessary information is captured. The company also adopts the strategy of providing some key advisory services and provides with vital information, with the view of attracting them too prefer the company services. Woqud in Qatar The company was formed din 2002 as a downstream oil storage, distribution and marketing company. The company is also listed as a joint stock company in the Qatar Exchange. The company is wholly responsible of ensuring the distribution of the fuel needs within Qatar. Some of the products sit distributes include aviation fuel, gasoline and diesel. The company is also trading in bunker fuels, bitumen important and distribution, ship to ship bunkering within the Qatari waters and also different line of branded lubricants. The company also builds various branded service stations across Qatar. The company owns a number of subsidiaries including, WOQOD International for Foreign Investment, WOQOD Vehicle Inspection (FAHES), WOQOD Marine Services and Qatar Jet Fuel Company (Q-JET) (Woqud in Qatar, 2015) The company’s main strategy is to ensure that it builds an elaborate network that helps in meeting its company demands. The company also intends to adopt the strategy of ensuring that it builds a strong supply chain to help reach its customers. It’s also adopted a stream within the main venture to deal with marketing issues only in the company. Its strategy is to ensure that it becomes the best downstream energy in the region that is measured in terms of employee satisfaction and customers besides increased customer’s shareholding. Finally, the company appreciates diversity; a strategy that management believe will help in reaching and venturing into other markets outside Gulf area. SWOT Analysis SWOT analysis makes it possible for the company to analyze its internal operations and provides a room to improve its internal operations. The analysis, the company is able to analyze its internal strengths, weaknesses, opportunity and the possible threats that the company is likely to face. The below is the discussed analysis of the two companies; Tasweeq in Qatar Strength The presence of the company in the rich state of Qatar gives it a chance to be at the global charter Strong government backing Has a strong, experienced and powerful workforce that can help in pushing through the company’s agenda Dealing in the lucrative oil business is an opportunity to easily hit the global ladder. Weaknesses It has very minimal presence in other countries Relies heavily on government sponsored projects and therefore might be tricky to fully appeal to organizations that are not dealing closely with the government Opportunity The company has able to create a strong brand given its presence in the oil rich estate and government support. It has a more brand building and marketing can therefore increase the brand recall Professionals who understands the industry helps in improving the customer confidence Threats Increasing competition in within the Middle East area Unfavorable scenarios as a result of various government policies and regulations Woqud in Qatar Strengths High quality services as witnessed in various company publications Well rained employees Diverse professionals working in the company marking it possible for them to explore the market Operating under a common venture and therefore enjoys advisory services Economies of scale given that it deals in different industries Weakness Lack of enough support from other members within the elaborate chain Lack of enough required market expertise Lack of enough support from the government Stringent government regulations Lack of enough capital to venture into other economies outside the gulf region Imperfect market information Opportunities Unfulfilled needs of the customers Possibility of expanding operations to other markets Threats The market is not yet saturated Competitors The rising cost of doing business in Qatar Assessment of Company’s Competitive Environment It is axiomatic to squabble that competition is inevitable in all aspects of business. A number of companies across the globe face stiff competition in their areas of operation. Gulf region is one of the prime areas that a number of investors put a serious interest. The support of the government is necessary to ensure that the companies get the right support to hit and compete with some super superior companies across the globe. The below section dichotomizes the completion within the two companies. Tasweeq in Qatar Tasweeq in Qatar enjoys a lot of government support and therefore find it easy to operate within the area. The same might be different when venturing into other regions in the Gulf region. The opened economy in Dubai has attracted a number of international marketing companies across the globe. The intention is to get a grip of marketing the rich oil in the countries. Most companies require a firm that understands the dynamics in the market with the changing times. There are a number of factors that will impact the performance of the company in the next 2-3 years with regards to competition and these includes; (Woqud in Qatar, 2015) Continuous support by the government will impact the changing times Changing Qatar’s foreign policy that might make it easier for other international companies to easily venture into the local market The global business environment International oil prices Woqud in Qatar Woqud in Qatar has a vast infrastructure that makes it competitive in the region. The company has a powerful workforce from diverse background and therefore understands the complexity of the marketing in the area. With its diverse workforce, it is easy for the company to collaborate with international firms to enable it sell ideas across the board. The firm faces stiff competition from a number of other companies interested in marketing the oil products in the area. There are a number of factors that will have significant effects on its performance and results in the next three years which includes; Continuous partnership with other international companies to enable it venture other markets in the world The performance of the worlds economy The new government regulations Ability of the company to expand its operations and to raise funds to venture into other markets Continuous training of marketing professionals who understands the market dynamics. Major Strategic Marketing Issues Its is unarguable that the performance of the companies depend on the strategies that are adopted by the management. The two companies face different strategic issues that are connected to the government goals as discussed below; Tasweeq in Qatar Tasweeq in Qatar intends to deliver energy to the globe. It intends to remain reliable, efficient and responsible through the creation of value for its stakeholders through the capitalizing in the world class employees and practices. The company’s main goal is to ensure that the area is a centre of excellence and being able to offering the needs to the customers. Some of the major strategic issues related to the company’s overall goals include; (Tasweeq in Qatar, 2015) The first issue is that the market and competition is growing faster than companies operations The company’s revenue s not growing the way it should because of the continued efforts There a lot of investments placed in international countries though not working they it should Woqud in Qatar Woqud in Qatar intends to be the leading company in the marketing of petroleum products and other related products and services across the globe. Its intention is to be the leader in the market through the presentation of various innovative products that easily appeal to the customers. Woqud in Qatar is known for the friendly way of approaching companies. The company’s operation is mainly anchored on the strong informed foundation that it finances come through the shareholders and therefore it must perform and deliver. It has remained accountable and dedicated to providing some of the best services for its customers. Despite its performance, the company is facing different marketing strategy issues which includes; The company is facing the issue of its content performance issues. The company always faces the issue of hamstrung by various compliance and the legal issues. The company has an elaborate plan on how to expand its operations but the resources are scarce and therefore limiting the operations. Strategic Alternatives and Solutions Despite various strategic issues that are faced by the company, there are alternatives that can be adopted to ensure that there is efficiency. Tasweeq in Qatar In the first alternative, the company should critically analyze its competition and should assist in point out the weaknesses. The firm should look at various revenue streams that are not performing with the view of either improving it or closing the streams. In the second place, it should be noted that customers is one of the most profitable places to focus especially when preparing a marketing budget. The company should talk to its clients and find the reason they quit and ask core questions like; did you leave because of poor service?, did you leave because of high prices?, did you leave because of low quality service offered against the prices tagged?. It is necessary also to adjust the business model if need be to accommodate the needs and concerns of the customers. In the last issue, the company should mainly focus on building some of the competitive advantages and how it can enhance its revenue streams through the areas. Woqud in Qatar Some of the solutions for the above stipulated issues are as discussed below; In the first instance the company should ask the fundamental question of the person they are communicating with and analyze what the recipients need to hear and finally analyze whether the customers will engage in the content and share it with others. In the second scenario, the paper stipulates that before the execution of the content marketing strategy, the firm should create and adopt rules that both the legal and compliance team, in collaboration with the members agree to. In the last issue, the paper stipulates the idea of brand-scaping and co-creation. The intention is to find non-competitive firms that target similar customers and work together to develop very compelling stories to the customers. Working with other marketing companies across the globe dealing in energy industry will be an advantage when developing ideas that are appealing to customers. Strategies that is likely to succeed The growth of a company depends on the strategies that it adopts and whether it is able to follow them. The two firms must analyze the stipulated strategies and analyze the once that can propel it to the next level. Tasweeq in Qatar The second strategy is likely to succeed. One of the main assets of any company is the customers. A number of firms have never treated the customers well or took time to analyze and understand whet they really need. The strategy of understanding the needs of the customer is easier since it does not require a lot of finances; neither does it require any external injection. It is easier for the company to look at its internal operations and discuss together with the view of coming up with methods of improving them. Woqud in Qatar Woqud in Qatar celebrates the number of professionals that supports its internal operations. Of the above listed strategies and solutions, the strategy that is likely to succeed is the analysis of the internal content that is shared with the external market. The management should look at what the outsiders really need to hear. It means that before releasing any content to the market, the internal team that is concerned should talk to the customers who are firm’s most important assets. It will be easier for the company to appeal to the customers if it takes time to understand and analyze their concerns. (Shapiro, 1984) Marketing Mix It is delineated as the business tool that is adopted by the marketers. It is often important in the determination of the brands offer or product and is often connected with four Ps. Below are some of the four Ps that are often used in different companies across the globe. The two firms can adopt either of the below to ensure that the stipulated strategies succeeded. (Pels, Möller, & Saren, 2009) Tasweeq in Qatar The P that will be used in the scenario to ensure that the strategies succeed is the promotion. The customers are one of the most important assets in the society and therefore they must be treated with a lot of dignity and respect. Through proper promotion the company will be able to reach the customers and help them understand the product. They are also able to answer any rel4evant question with regards to the product. Woqud in Qatar Analysis of the internal content as stipulated in the strategy two can easily succeed through product. Management need to understand the needs of the customers and what the firm is really selling. Content is very important and when the customers don’t understand it well, it is unlikely that they will appreciate it. Plan The below explains a plan that will be adopted by the two companies 1. Introduction – Phase One The section should discuss the company’s vision, values and missions and some of its founding principles. It also explains the strategy that should be handled and how the management will handle it. That should be the first phase. Analyzing the strategy- Phase two Analysis of the strategy and the possibility of its success Analysis of internal resources- Phase three The management should analyze some of it internal resources and whether they are enough to be used in the implementation of the strategy. If need be, then they should adopt ways of finding for more resources and engaging other relevant stakeholders. On going information needs – Phase 4 The company should monitor and investigate the need to update the management on the progress of the implementation and the intervals at which the presentations should be done. Full implementation of the plan- Phase 5 After the evaluation of the resources spent and the adopted strategy and its possible success, the company should give a go ahead for the full implementation of the plan. The last section will be to review the performance of the firm. References Consumers in qatar most optimistic in the middle east and levant: MasterCard worldwide index of consumer confidence. (2010, Jan 25). Al Bawaba Retrieved from http://search.proquest.com/docview/194830504?accountid=45049 Pels, J., Möller, K., & Saren, M. (2009). Do we really understand business marketing? getting beyond the RM and BM matrimony. The Journal of Business & Industrial Marketing, 24(5), 322-336. doi:http://dx.doi.org/10.1108/08858620910966219 Shapiro, B. (1984). The marketing mix. Boston, Mass.: Distributed by the Pub. Division, Harvard Business School. 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