RE: Did you know that marketing strategies are important in the oil industry?
Nicely written.
I will like to talk a little about this from my point of view. It is true marketing has a lot to do in businesses and oil is part but at the same time, the low price of oil is factored to so many things but not marketing. It is quite easy to say that marketing works fine with Petroleum products sales and making consumers choose a brand to another but with crude it is different. There is little to what marketing can do.
First, crude sale is a national thing in which oil producing countries sell to non oil producing countries. The price of oil has been dropping not because there is no good marketing but because there is an increase in the discovery of oil in countries that did not have oil before also countries that had in low quantities are now finding more which makes the market saturated. There is more of supply to demand. Trump said in a press release when talking about iran that U.S did not need oil from iran since U.S is the largest oil producing country. The world consists of 195 countries with 96 being oil producers, that is about 49% of the countries in the world.
Not forgetting that increase in the consumption of electricity has reduced the importance of petroleum product for household consumption like electric cooking stove displacing the kerosene and cooking gas, electric heaters displacing the old fashion chimney way also electric self driving cars gradually defacing Petroleum Motor Spirit (PMS). This has also showed that petroleum is gradually losing its value in several households.
There will be a fall in price for a commodity that has much supply and losing its relevance gradually.
Thanks for sharing this.
Good point of view that you share with us friend @frederickbangs, is as you say, the price of oil has nothing to do with marketing, what I want to imply in this article is that due to the low prices of oil the private companies that supply equipment and services to the big national companies have to apply a good marketing philosophy in their sales, because due to low oil prices many of those services and equipment that were purchased in the past may no longer be available today, that is what I mean, we all know that the price of oil simply depends on the supply and demand that exists for this resource. I hope that I have clarified the point that was unfinished. Greetings and thank you for commenting on my post.
I really like to see how responsive you are @carlos84 :)
Thanks @crypto.piotr, well I think that one of the main qualities and responsibilities that a good steemian should have is to be receptive to his followers, especially considering that the topics he usually deals with generate a controversy that is almost always at the level of good debates.
Most of the time I answer the comments when the time allows me, and even more considering that this is a topic that I am very passionate about.
I am glad you replied my comment, thanks for doing this.
Truthfully, i guess there is little to how long oil will be relevant to the world. Truthfully, for now marketing might be a saving grace for companies that supply services and equipments for oil companies but this will not last for long as a lot will have to start diversifying and improving according to how technology is moving.
I am talking about 50 years from now were oil will become obsolete at that point, what will be the need of marketing a service or equipment that is going into extinction gradually. What is the need of marketing a typewriter in this decade when the blockchain technology has even overshadowed the internet boom age.
Really when the energy that is demanded in the world manages to substitute the derivatives of hydrocarbons for other forms of energy, then the oil marketing will become obsolete, meanwhile I believe that approximately 300 years will pass in which hydrocarbons will continue in first place as the primary source for energy generation in the world, unless great inventions occur during the next few years that make the commercialization of oil and natural gas little or not at all attractive.
Thank you @frederickbangs for being part of this important debate that we have implemented based on this article (marketing strategies in the oil industry). Greetings