opped competing.ExxonMobil has gone out to find the best suppliers. They have invented skyscraper-drilling platforms for the ocean looking for every competitive advantage. BP and Chevron took years before they were able to catch up in ocean drilling. Exxon was also tested and completed almost zero-emissions in lubricants and fuels. New technology is ExxonMobils competitive advantage. (ExxonMobil Official Website) ExxonMobil’s strategy is to be the leader in new technologies now and in the future.GrowthThe U.S. has recently seen record growth in the last decade and has improved the oil industry tremendously. In the nineties oil prices reached lower prices then we have seen in a long time thanks to the drop in price in crude oil. People were able to travel more often because of the cheapness of the gas prices. Now it was the job of ExxonMobil, Chevron, and BP to get them to choose their gas. When you go to get gas you usually find gas stations on more then one corner. More then likely is the price is the same as the competitor. So to differentiate themselves from the other the companies they needed to try new things. Discussed earlier are the company’s strategic plans to draw customers. ExxonMobil established this plan the best. What also helped them was their market share. ExxonMobil market share is more then double their nearest competitor. They have more service stations per area then the rest. In 1999 ExxonMobil had net income of 8.1 billion dollars compared to Chevron’s 2 billion and BP’s 5 billion dollars. With Chevron’s acquisition of Texaco it clearly showing that it needed to find away to gain the market share that ExxonMobil has. The merger has not cleared yet but it should soon be and make Chevron move up from the fourth largest oil company in the world. Without this merger Chevron will never be able to compete with the giants ExxonMobil, BP, and Shell. (Chevron Official Website)Marketing and Adver...
