Oil And Gas Marketing Analysis

1181 Words 5 Pages
The oil and gas market shares are the most expensive and are in highest demand of any consumer product. The demand is sourced not only in the private sector but by the general consumer like you and I. Oil and Gas is unprecedentedly the unchallenged provider of energy resources with natural resourced energy far behind. What we purchase, how we purchase, where and when we purchase and in how much amount we buy depends on our awareness, self-concept, social and cultural background along with many other outstanding factors; the influence of consumer behaviour is meditated through perceived quality (Bryson and Daniels, 2015). The way in which a consumer decides on a product will depend on their outstanding familiarity of that product whether positive …show more content…
Furthermore, key aspects of BP’s re-brand are to be highlighted along with how effective they have been.
The events of the Deepwater Horizon of the Gulf of Mexico have intimately become familiar to us through images of ‘underwater oil plumes, polluted wetlands and brown pelicans coated in oil’ (Kirsch, 2010: 295). Since the incident BP have confronted a crisis of not only doing enough to stop the environmental impact but questionably have not done enough to confidently assure the public they are doing their best to stop it. After the incident happened BP toyed with peoples trust in their brand by underestimating how much damage they had caused ‘BP spokesman downplayed the number as somewhere between 1,000 and 5,000’ (Beam, 2016) the downfall of this was that they were detrimentally harming the credibility of their brand, according to Larry Smith of the Institute for Crisis Management: "Don 't speculate. If you know, say so. If you don 't know, say you don 't know" (Beam, 2016) ownership of the crisis for BP would of benefitted hem more than passing the blame. Furthermore, when BP were challenged with this crisis it could ‘mean the difference between
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Since their mishap of dealing with the Deepwater Horizon crisis, BP have taken to social media uncountable amount of times to update and inform people on what is being done. Less press releases and conferences are happening on behalf of BP who are embracing more-is-better ethos of new media. According to Oliver (2007) corporations are increasingly challenged by ethical issues and corporate social responsibility (2007:77) with regards to BP their website outlines where they are held accountable and as a corporation what they are doing about it. Corporate brands and their perceived image by the audience ‘develop through consistent and positive consumer experience over time’ (Abimbola, 2009:219) where BP originally damaged their own brand image by no accountability they’ve retracted statements and are perceiving to be doing justice for the damage they caused as outlined by creating websites and the use of new

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