It’s the 18th largest oil company in the world with 8,952 kms of pipeline. Need we elaborate? 
Talk about oil, and adjectives that come to mind are – slippery, yellow, dense, dirty. Famed and respected? Nah! But when the Incas called it ‘liquid gold’, they certainly, understood the power it could generate. And going by the fact that Indian Oil Corporation (IOC) garnered a blazing Rs.1.83 trillion as revenues during FY06 alone, the corporation seems to have understood why the Incas were known for their prosperity! The public sector behemoth, generates immediate trust in minds of Indians! A Fortune Global 500 powerhouse (ranked at an impeccable 153), IOC stands for ‘inspired India’, and all because it dared to get into brand differentiation of petroleum and oil. Today, it has gained tremendous brand equity, with its basket of super brands like Servo, Indane, and Xtral. “There are two aspects to our promotion, to promote brands which need support by way of ads and through brand building strategies...” an IOC official told 4Ps B&M. The approach, besides the run-of-the mill dealer incentives and on-field activities, involves agreements with other trusted brands like Citibank and Coca Cola, which further helps IOC leverage its brand image.
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Talk about oil, and adjectives that come to mind are – slippery, yellow, dense, dirty. Famed and respected? Nah! But when the Incas called it ‘liquid gold’, they certainly, understood the power it could generate. And going by the fact that Indian Oil Corporation (IOC) garnered a blazing Rs.1.83 trillion as revenues during FY06 alone, the corporation seems to have understood why the Incas were known for their prosperity! The public sector behemoth, generates immediate trust in minds of Indians! A Fortune Global 500 powerhouse (ranked at an impeccable 153), IOC stands for ‘inspired India’, and all because it dared to get into brand differentiation of petroleum and oil. Today, it has gained tremendous brand equity, with its basket of super brands like Servo, Indane, and Xtral. “There are two aspects to our promotion, to promote brands which need support by way of ads and through brand building strategies...” an IOC official told 4Ps B&M. The approach, besides the run-of-the mill dealer incentives and on-field activities, involves agreements with other trusted brands like Citibank and Coca Cola, which further helps IOC leverage its brand image.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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