ONGC SWOT Analysis, Competitors & USP
ONGC SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of ONGC, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like ONGC to benchmark its business & performance as compared to the competitors, and make strategic improvements. ONGC is one of the leading brands in the energy & power sector.
The article below lists the ONGC SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the ONGC SWOT Analysis:
In this article:
SWOT Analysis of ONGC
For ONGC, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
ONGC Strengths
The strengths of ONGC looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of ONGC :
1. ONGC is Indias largest crude oil and natural gas producer
2. Strong brand name of ONGC company
3. High profit making and high revenues
4. Has over 30,000 employees in its workforce
5. ONGC produces about 30% of India's crude oil requirement
6. Contributes 70%+ of India's crude oil production and 80%+ of India's natural gas production
7. Commemorative Coin set was released to mark 50 Years of ONGC
8. Strong advertising and branding of the company along with recognition from several awards
9. Owned by the Govt of India, ONGC has got a strong financial backing
ONGC Weaknesses
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the ONGC SWOT Analysis:
1. Being a government organization, slow bureaucratic decisions can reduce efficiency
2. Intense competition means limited market share growth for ONGC
ONGC Opportunities
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in ONGC SWOT Analysis:
1. Increasing fuel/oil prices means higher margins for ONGC
2. Increasing natural gas market
3. ONGC can increase business by more oil well discoveries
4. Expand global export market and have international tie-ups
ONGC Threats
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of ONGC are as mentioned:
1.Government regulations affects business of ONGC
2.High competition form Indian as well as global oil companies
3.Hybrid and electric cars in the market can reduce fuel consumption
4. Fluctuating crude oil prices can affect the business
ONGC Competitors
There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of ONGC:
3. IOCL
4. Reliance Industries Limited
Hence this concludes the ONGC SWOT analysis.
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About ONGC
|
ONGC (Oil and Natural Gas Corporation) | |
| Parent Company | ONGC |
|---|---|
| Category |
Oil & Gas |
| Sector | |
| Tagline/ Slogan |
Making tomorrow brighter; Nibhaye zimmedari bharose se |
| USP |
ONGC is India's biggest oil and gas exploration organisation |
| ONGC STP | |
| Segmentation |
Corporates, countries, individuals looking to fulfill energy needs |
| Target Market |
Enterprises looking for energy for production, people for petrol diesel for vehicles and domestic uses |
| Positioning |
ONGC is positioned as the future of India's energy |
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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