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• W116588292 abstract "The purpose of this paper is to identify trends occurring in Australia's downstream retail oil market with the view to assessing the implications these trends might hold for competitive strategy. Downstream oil is a term used by the oil industry to encompass the retail and commercial trade in refined petroleum products. The paper starts with a brief overview of the Australian oil industry: identifying the different levels of operating autonomy exercised by the oil majors (Ampol, BP, Caltex, Esso, Mobil, Shell) in Australia; examining the extent of th.eir respective participation; and assessing the degree of commercial attractiveness present in Australia's downstream retail oil market. The principal conclusions are firstly that downstream oil has been used as a major source of funding diversification into the resources sector and; secondly that in concert with the less than attractive Australian economic performance, slow growth in petroleum consumption demand, refining overcapacity and industry maturity, Australia's downstream retail oil market has become a very tough market in which to perform. The reaction by the major oil companies to these market conditions is analysed in the second section of the paper. The primary trends evidenced in the varying degrees of investment by the respective oil companies cover the following value-added market segments: ·         Electronics in retailing - Electronic Funds Transfer at the Point of Sale (EFTPOS). - Driveway Card Acceptors (DCA) - Electronic Retailing Systems (ERS) ·         Aftermarket ·         Food stores ·         Roadhouses ·         Automotive servicing ·         Rapid lubrication ·         Car Washes The second section continues with a detailed examination of each of the major oil companies focusing on their respective management structures, financial performance, and 1985 operations encompassing refining, shipping, distribution, and retail marketing. In terms of market share, innovation and profitability Shell is clearly the market leader. BP is next followed by Caltex, Mobil and Esso. Despite good profitability Ampol is relegated to the last position through its failure to invest in the development of its business. To complete the examination of trends the paper proceeds to an analysis of those environmental forces which shape the extent and direction of competitive strategy development. The substantial conclusions encompass:- ·         Government - potential deregulation of the oil industry by 1988 creating a free market for crude oil and refined product. ·         Technology potential for the introduction of high-octane (93.5 octane) unleaded petrol to replicate moves by American refiners to overcome customer dissatisfaction with some of the regular unleaded gasolines. ·         Economy uncertain economic outlook in the short term due to continuing high rate of inflation, the accompanying high level of interest rates, the pressure on labour costs, the state of the rural economy, and the balance of payments outlook. ·         Culture rapid acceptance by the public of computerised banking and EFTPOS utilising the debit card. The foregoing analyses of trends, companies, and environmental influences are then assimilated under two separate frameworks for assessing the implications in terms of competitive strategy. The paper firstly explores the three generic strategies identified by Porter for creating sustained competitive advantage in order to outperform competitors: overall cost, leadership, differentiation, and focus. The paper then concentrates on the framework developed by Kotler based on the observed behaviour of companies: that of leading, challenging, following, or niching. The framework is further refined by adopting military attack/defence strategies. The substantial conclusions for competitive strategy take the following form:- ·         Market Leader Shell The company is expected to preserve its dominant position by protecting and expanding market share through two defence strategies consistently used in the past: preemptive defence and counteroffensive defence. ·         Market Challengers BP and Caltex These companies are expected to continue their attack on the market leader as well as smaller firms by utilising contraction/concentration strategies, frontal attack strategy, or a combination of both. ·         Market Followers Ampol and Mobil To avoid retaliation by the preceding companies, Mobil is expected to continue its existing strategy of pursuing profit rather than market share, in concert with creating a distinct competitive advantage by focusing resources on select value-added markets. Ampol in contrast must decide whether it will remain in the industry with the consequent implications for substantial reinvestment and redefinition of product/market scope; or whether it should generate short-term market share to optimise disposal price to one of the other oil majors. ·         Market Nicher Esso Esso is expected to continue its successful pursuit of market niching by focusing on wholesaling activity to independent jobbers. The paper concludes with a brief summary of the major trends occurring in the downstream retail oil market, the impact of the environment and implications for competitive strategy which derive therefrom." @default.
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• W116588292 title "Trends in Australia's downstream retail oil-market-implications for competitive strategy" @default.
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