Published by MBA Skool Team, Last Updated: April 12, 2020
SWOT analysis of IOCL analyses the brand by its strengths, weaknesses, opportunities & threats. In IOCL SWOT Analysis, 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 IOCL to benchmark its business & performance as compared to the competitors. IOCL is one of the leading brands in the energy & power sector.
The article below lists the IOCL SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the IOCL SWOT Analysis:
For IOCL, 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.
The strengths of IOCL 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 IOCL :
1. IOCL is India's largest commercial enterprise with a strong brand name 2. Indian Oil has petroleum products, fuels, lubricants, petrochemicals etc 3. Operates many refineries in India 4. Huge distribution network through retailing makes Indian Oil a popular brand name 5. Accounts for a majority share in the petroleum products market and substantial share in refining capacity and downstream sector pipelines capacity in India 6. IOCL has over 35,000 employees 7. Loyalty programs like XTRAPOWER Fleet Card Program is aimed at Large Fleet Operators
8. IOCL's pipeline in India spans more than 11,000km making it one of the largest globally
9. Strong branding and marketing exercises through TVC, sponsorships, print, online ads etc make Indian Oil a top brand
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 IOCL SWOT Analysis:
1. High competition from other oil companies means limited market share growth
2.Bureaucracy affects the operations of a government controlled company like IOCL
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 IOCL SWOT Analysis:
1. IOCL can tap on increasing demand and higher fuel/oil prices 2. Increasing natural gas market for industries and transportation 3. Global expansion with tie-ups with international oil companies
4. Acquisition of smaller companies can further strengthen the position of IOCL
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 IOCL are as mentioned:
1. Government regulations can slow down business 2. High Competition means limited market share for IOCL
3. NGOs and environment focused companies can be an obstacle in business
There are several brands in the market which are competing for the same set of customers. Below are the top 4 competitors of IOCL:
Indian Oil Corporation (IOCL) is India's most well reknowned brand
Corporates, countries, individuals looking to fulfill energy needs
Enterprises looking for energy for production, people for petrol diesel for vehicles and domestic uses
IOCL provides energy, fuel and gas to entire India
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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