ASSIGNMENT

Assignment

Executive Summary

Woqod and similar companies in the Qatar fuel industry are subject to ever-increasing change in the economy, increasingly demanding customers, the ever-changing workforce, rapidly changing technology and communications, as well as, a growing volume of new laws and regulations. The industry is extremely dynamic and in a continuous state of change. For this purpose, we have a recommendation to the company for improving its services in the market with the launch of new retail outlet. Woqod must not only have the ability to estimate changes in the environment to succeed and outlast the competition accurately, but also an appreciation of the impact the external environment may have on the firm. There is a need for managers to anticipate and adapt efficiently to changes and respond positively in their efforts to ensure long-term success. Moreover, strategy involves the creation of fit between a company's varied activities. Success is more likely where managerial decisions are theory based, rather than being founded on mere hunch or intuition, and draw on a body of empirically established evidence to make informed business decisions.

Table of Contents

Executive Summaryii

Introduction1

Industry / Market Analysis2

Competitor Analysis4

Justification for the Launch of a New Retail Outlet5

Greet5

Know When to Approach6

Service Attitude6

Timeliness of Care6

Do Not Leave the Client Served7

Risk Analysis7

Marketing Objectives8

Marketing Strategy8

Segmentation8

Bases of Segmentation10

Geographic Segmentation10

Psychographic segmentation10

Requirements for an Effective Segmentation11

Targeting12

Different Kinds of Targeting Strategies12

Advertise to Target Audience12

Positioning13

Process13

Strategies13

Risk Assessment of the Intended Strategy14

Marketing Mix16

Product Strategy16

Pricing Strategy16

Distribution Strategy17

Promotional Strategies17

Discounts and Special Promotions17

Marketing Budget18

Conclusion20

References21

Assignment

Introduction

Globalization has totally transformed the human life and organizational performances. The world has now become more than every enriching and challenging place to work with different cultures, nations and systems (Cretu et al. 2007: pp. 230-240). Organizations that are already operating outside their home country are not limited to a few huge enterprises anymore. The world has watched the proliferation of multinational companies from many countries and later from the developing economies. Companies now need to take proper and appropriate measures for targeting its customers. Companies need to amend, re-launch, or launch new products and services on continuous basis to keep customers engage with the company. For this purpose, strategies are to be made according to the long terms plans for the success of the company.

In this paper, we have advised the company Woqod to launch a new retail outlet to sell its products to its target market. It is because of the fact that the increasing demand of fuel has made the company one of the top companies in the market. As a result, it must increase its outlet one by one to enhance the services in the areas where it has no outlets. With a new outlet, the company cannot only retain its current customers, but it can also target new markets and customers. A marketing and promotional strategy has been discussed in the paper with the help of segmentation, targeting and positioning strategies.

Industry / Market Analysis

Qatar Fuel (WOQOD) is a downstream oil marketing company engaged in the sale and distribution of refined petroleum products produced by and transferred from ...