A SWOT analysis for BP Company
BP Company is a leading producer of crude oil and petroleum products with headquarters in London; it provides its services to more than 80 countries worldwide. The company’s success is marched with their effortless strategic performance that they put towards improving the services they offer to meet the needs of their customers. BP Company has managed to transform their mission statements and core values by competitively managing to make use of technology to initiate development strategies with an intention of supplying resources that are sensitive to changes in climate and those that can be depended upon by people in the modern society.
In an effort to appeal people to chose BP gasoline station for their petroleum products and energy over its competitor, the marketing and innovation team lead by Ann Hard planned and implemented an improved new look gasoline station called Helios house. Helios house represent a large modern, eco friendly and non pollutant building located in Los Angeles. It was built using unique materials, appealing features and eye catching design that appeal and thus attracts many people towards its location.
The building consists of self regulating and efficient lightings that generate energy from its 90 solar panels and its roof is covered with grass that can be regulated to provide cooling and warming effects in the inside. Its environmental friendly building techniques has won them a certified award from the U.S green building council and placed it to be the first gasoline to meet the Leeds standards in the U.S.
There are two major strengths that enabled the BP Company to construct the Helios house gas station. First, their continued market lead among other energy producing companies helped them to generate enough revenue as a result of increased sales volume which helped them to successfully construct the expensive building. In addition, they had intensive consumer insights which helped them to understand their customers needs thus provide the services that would satisfy them.
Based on its green and eco friendly construction, it is evident that the management team in BP Company had identified an opportunity to improve their brand image by focusing on green ideas that communicated its services with an eco friendly essence. The green Helios house station was put up to demonstrate that a company dealing with environmental degrading products such as fuels and gasoline could as well protect the same environment using other eco friendly activities such as saving energy by using solar panels and tracking rain water to irrigate the dry landscape in the house. The green Helios house gasoline station has successfully managed to sell their brand image since it has attracted many clients who have helped increase their sales volumes.
Another major reason that prompted the BP Company to build the Helios house gasoline station was the identification of an opportunity that would help them to beat their competitor. They came up with strategic innovations that would help the company to maintain the marketing lead as the largest energy product provider in the U.S and in the wider international market. They decided to broaden their services by providing different products other than gas and oil products.
These services included the production of non pollutant fuel products, numerous stores that provide sale of useful items such as snacks and beverages and construction of tidy and well ventilated rooms for hire, where clients can get rest and specialized hospitality along with the station services. These additional services are specialized and exceptional and have placed the company in a better competitive edge compared to its competitors.
Despite its success in attracting many customers, the construction of the Helios house gas station incurred a lot of cost to set up and to maintain the Helios house building which poses threats to the company’s profits margins especially in the current era of continued unpredictable global changes in economic situations. Again, customer demands for similar station in other parts of the world has been inevitable and since it is costly to set up several other Helios houses in other places, the failure to implement this service may be seen as an inability to meet customers needs which is a threat to the company’s competitive edge.
The BP Company should ensure that they employ other marketing and innovative strategies to keep up with the development trends that they initiated through the construction of the Helios house station. They should endeavor to set up few other similar buildings in other countries to show their dedication to offer equal services to all their esteemed customers.
Finally, in addition to the advertisement made to publicize the Helios house gas stations, the management should work closely with the sales and advertisement team in order to increase their promotional services to the customers in bigger geographical coverage. This will help them to fully utilize their internal strengths to venture into new opportunities and minimize the underlying and also the potential threats and weaknesses.
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