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HPCL (Hindustan Petroleum Corporation Limited), a Navratna PSU of the Government of India, is a Fortune 500 company of India listed at number 311 in the global 500 rankings, with an annual turnover of over Rs. 1,16,428 Crores and sales/income from operations of Rs 1,31,802 Crores (US$ 25,618 Millions) during financial year 2008-09, about 20% Marketing share in India and a strong market infrastructure. Corresponding figures for financial year 2007-08 are: Turnover- Rs 1,03,837 crores, and sales/income from Operations- Rs. 1,12,098 Crores (US$ 25,142 Million).
HPCL operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai (West Coast) of 5.5 Million Metric Tonnes Per Annum (MMTPA) capacity and the other in Vishakapatnam, (East Coast) with a capacity of 7.5 MMTPA. HPCL holds an equity stake of 16.95% in Mangalore Refinery & Petrochemicals Limited (MRPL), a state-of-the-art refinery at Mangalore with a capacity of 9 MMTPA. Another Refinery of 9 MMTPA is under construction in Bathinda, Punjab by HMEL, a Joint Venture with Mittal Energy Investments Pte.Ltd.
HPCL also owns and operates the largest Lube Refinery in India producing Lube Base Oils of international standards. With a capacity of 335 TMT. This Lube Refinery accounts for over 40% of the India's total Lube Base Oil production. Presently HPCL produces over 300+ grades of Lubes, Specialities and Greases.
The marketing network of HPCL consists of 13 Zonal offices in major cities and 90 Regional offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Aviation Service Facilities, LPG Bottling Plants, Lube filling plants, Inland Relay Depots, Retail Outlets (Petrol Pumps) and LPG & Lube Distributorships.
HPCL has, over the years, moved from strength to strength on all fronts. The refining capacity steadily increased from 5.5 million metric tonnes in 1984/85 to 13.00 million metric tonnes (MMT) now. On the financial front, the turnover grew from Rs. 2687 crores in 1984-85 to Rs 1,31,802 Crores in Financial year 2008-09.
History of Hindustan Petroleum Ltd.
The Company was incorporated in the name of Standard Vacuum Refining Company of India Limited on July 5, 1952 under the Indian Companies Act, VII of 1913.
On 31st March the name was changed to ESSO Standard Refining Company of India Limited.
With the nationalization of Caltex Undertakings in India the same were also taken over by the Government of India and subsequently merged with HPCL.
The undertakings of Kosangas Company Ltd. were merged with HPCL. As part of the disinvestment in PSUs, shares of HPCL were sold by the Government to Financial Institutions, Mutual Funds and Banks. Presently the Government holding in HPCL is 60.31%. The balance is being held by Financial Institutions, Mutual Funds, Banks, Foreign Institutional Investors, Employees and Individual Shareholders.
It has co-promoted several joint ventures like Mangalore Refinery & Petrochemicals (MRPL), Hindustan Colas, Petronet India, Punjab Refinery Project, Visakh Power Project, Prize Petroleum Co & South Asia LPG Co.
The capacity of lube plant was increased by an additional 74,000 tonnes per annum of high viscosity index lube base stocks.
The crude unit and related off-sites were commissioned in January and fluid catalytic cracking unit was commissioned in August. During the year corporation embarked upon a project to expand the crude distillation capacity at Mumbai by 2 million tonnes per annum at an estimated cost of Rs.45 crores. This project was commissioned in April.
Mangalore Refineries & Petrochemicals Ltd., is the first joint sector refinery being set up in the country after the Government has allowed entry of the private sector in the petroleum refining industry.
During the year corporation installed the latest C-generations concept 3*10 MW gas turbines to meet the power requirement at Bombay Refinery with facilities to generate steam simultaneously.
During September 3*10 MW gas turbine generators and heat recovery steam generators were commissioned at a cost of Rs.79.22 crores at Mumbai.
During March an MOU was entered into between Govt. of India and Govt. of Sultanate of Oman, HPCL and Oman Oil Co., Ltd., for setting up 6 million TPA refinery on the West Coast of India through a joint venture company called Hindustan Oman Petroleum Co. Ltd.
During February, the company issued 173,50,000 equity shares of Rs.10 each with detachable warrants of Rs.380 each as follows.
On firm allotment basis:
- 4,70,000 equity shares with warrants to Indian Financial institutions
- 3,35,000 shares with warrants to Indian Mutual Funds.
Preferencial allotment basis:
- 17,35,000 shares with warrants to share to employees
- 17,75,000 shares with warrants to shareholders of the company,
- 34,70,000 shares with warrants to NRIs, balance 66,05,000 shares were issued to the public.
During the year March a joint venture with Colas S.A of France, the company commenced its first State-of-the-art Bitumen emulsion Plant of 20,000 TPA capacity at Vashi, named Hindustan Coalas Ltd.
American Express and Hindustan Petroleum Corporation has signed a memorandum of understanding (MoU) for card acceptance at various gas stations.
Hindustan Petroleum Corporation Ltd (HPCL) and Gas Authority of India Ltd (GAIL) have entered into an agreement for setting up a liquefied petroleum gas (LPG) pipeline and infrastructure from Visakhapatnam to Secunderabad via Rajamundry and Vijayawada.
The Foreign Investment Promotion Board (FIPB) has allowed the joint venture of Hindustan Petroleum Corporation (HPCL) and Total of France, to set up LNG terminals and venture into downstream activities such as marketing of petro-products, etc.
Hindustan Petroleum Corporation Ltd (HPCL) is celebrating its silver jubilee year with "Shakti Utsavs" in major Indian cities.
Hindustan Petroleum Corporation Ltd. has introduced its smart card in Bangalore for the first time in the country.
HPCL - Marketing Initiatives in Sri Lanka
Hindustan Petroleum Corporation Ltd (HPCL) has formed a 50:50 joint venture with Total Gas and Power India (TGPI), a wholly-owned subsidiary of Total France, to develop the biggest underground 'Cavern LPG Storage' project at Visakhapatnam
Gets award for industrial safety by National Safety Council, Kerala Chapter in chemical industries sector
Inks pact with Shell India Private Ltd for product and infrastructure sharing between the two companies
Signs agreement with US Pizza, a pizza outlet, which would be opening over 500 delivery units at HPCL's outlets around the country. The understanding is aimed at making the partnership the largest food chain in the country
Mr S. Roy Choudhary has been appointed as Director-Marketing in Hindustan Petroleum Corporation Ltd (HPCL), effective May 10
Hindustan Petroleum Corporation Ltd on June 26 signed a memorandum of understanding with Indian Oil Corporation Ltd
Birla Power Solutions, a Yash Birla Group company, has tied up with Hindustan Petroleum Corp Ltd (HPCL) to produce electricity generators, which run on LPG
HPCL launches unique smart card
Hindustan Petroleum Corporation signs MoU & Confidentiality agreement with Chevron Texaco
HPCL signs MoU with RCF (Rashtriya Chemicals Fertilisers Ltd )
HPCL ropes in Sania Mirza to endorse retail brands
Pizza Corner forges alliance with HPCL
Amex, HPCL unveils co-branded credit card
HPCL opens new LPG bunk in Visakhapatnam
HPCL partners with MSFCL for bio-diesel venture
HPCL signed an agreement with BP plc (formerly known as British Petroleum) to form 50:50 strategic joint venture partnership
HPCL signs MoU with Gail on November 16, 2005
HPCL, MyTVS unveils MyTVS Club HP Smart1 cards
HPCL signs MoU with SINOPEC
HPCL join hands with Malbro Appliances to market LPG stoves
Kamat Group joins hand with HPCL for food joints
Nirlep Appliances Ltd, manufacturer of cookware, has entered into a marketing pack with HPCL for marketing non-stick cookware, regular inner and outer lid pressure cookers and gas stoves.
Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. Arun Balakrishnan earlier Director (HR) has taken charge as Chairman & Managing Director of the Company effective April 01, 2007 (AM).
Hindustan Petroleum Corporation Ltd (HPCL) and ONGC have signed a Memorandum of Understanding (MoU), covering Product Sale Purchase, Infrastructure Services and Co-operation in Energy & related fields.
Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. P V Rajaraman, retired IAS Officer and former Chairman of Tamilnadu Industrial Investment Corporation has been co-opted as part-time 'Non-officio' Director on the Board of the Company.
Mr V. Vizia Saradhi assumed charge as the Director, Human Resources, of the HPCL on Aug 3.
Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. V Viziasaradhi has been appointed as Director - Human Resources on the Board of the Company effective August 03, 2007 (PM).
Hindustan Petroleum Corporation Ltd (HPCL) has informed that Shri. L N Gupta, Joint Secretary - Refineries, Ministry of Petroleum & Natural Gas (MOP&NG) has been co-opted as part-time ex-officio Director on the Board of HPCL at the Board Meeting held on June 25, 2008 (PM).
Hindustan Petroleum Corporation Ltd (HPCL) has appointed following firms as statutory / Branch Auditors for the Financial year 2009-10. V. Sankar Aiyar & Co. : Joint Statutory Auditors Om Agarwal & Co. : Joint Statutory Auditors Gandhy & Co. : Branch Auditors for Visakh Refinery.
Hindustan Petroleum Corporation Ltd. a diverse range of products, from petrochemicals and solvents to aircraft fuel and speciality lubricants and markets them through its wide network of Petrol Stations, Kerosene Dealers, LPG Distributors, Lube Shoppes, besides supplying fuel directly to hundreds of industries, and several international and domestic airlines.
Unaudited Financial Result for 2nd Quarter 2009-2010
28th Oct. 2009: Hindustan Petroleum Corporation Limited has registered a turnover of Rs. 25,868 crores for the period July - September, 2009 as against Rs. 32,691 crores in the corresponding previous period largely due to the decline in the international prices of crude oil and products. The sales of petroleum products (including exports) have increased to 6.26 million tonnes registering a growth of above 4% over the second quarter of the previous year. The growth in domestic sales during April - September, 2009 was 6.4%, the highest growth among oil marketing PSUs.
The refineries at Mumbai and Visakh processed 8.12 million tonnes of crude during April - September, 2009 as against 7.55 million tonnes during April - September, 2008. The combined GRM recorded for April - September, 2009 was US $ 3.79 /bbl.
On the financial front, the loss for the period July-September, 2009 was Rs.137 crores as against a loss of Rs 3,219 crores for July-September, 2008. However for the period April - September, 2009, HPCL reported a profit after tax of Rs 512 crores as against a loss of Rs 4,107 crores during April - September, 2008. The interest cost for July-September, 2009 was lower at Rs 249 crores, as compared to Rs 527 crores during the same period of previous year. The decrease in interest cost was due to lower levels of borrowings as also lower rates of interest. The net under recovery on sale of sensitive petroleum products during the second quarter also came down to Rs 1,453 crores from Rs 1,818 crores during corresponding previous period. During the quarter, the foreign exchange gain was Rs 92 crores as against loss of Rs 245 crores in the corresponding quarter of last year.
The facilities for Euro III petrol production at Mumbai Refinery and at Visakh Refinery have been commissioned during this quarter.
The new JV Refinery at Bathinda, viz. HPCL - Mittal Energy Ltd. (HMEL) is progressing as per schedule. About 50% physical completion has already been achieved. The Project is progressing ahead of schedule and mechanical completion is expected by March, 2011.
Sales Analysis - Hindustan Petroleum Corporation Limited.
Review of literature
Review of Literature Hydro Oil & Energy increases annual production growth rate to 8%(2002)
NORDIC BUSINESS REPORT-12 June 2002-Hydro Oil & Energy increases annual production growth rate to 8% (C)1994-2002 M2 COMMUNICATIONS LTD http://www.m2.com The Norwegian company Norsk Hydro ASA said today that it had revised upward the production profile and average annual production growth rate of its Hydro Oil & Energy business.
The North Sea oil industry is a quintessentially Scottish business, with its operational hub in Aberdeen. Aberdeen has built a reputation for excellence in supporting the UK oil and gas industry. With oil and gas production amounting to about 3.7m barrels of oil equivalent a day (boe/d), Scotland remains a significant hydrocarbons producer in world terms. And a considerable amount of hydrocarbons remains to be produced - up to 30bn boe, the UK Offshore Operators Association claims. But while the North Sea offers growth opportunities for niche operators, Aberdeen must reach out to other regions and new business areas. To remain an active source of oilfield services, a focus on research and development and innovative thinking will be needed, as well as timely government help.
Oil wealth offers new opportunity(2004)
With international banks set to enter Saudi Arabia's previously guarded markets, as the long-awaited capital market law comes into effect, the threat of increased competition is looming on the horizon for the country's banks. At the same time, one of Saudi banks' main sources of income - the issuance of government paper - is slowly drying up. Despite this, Saudi institutions can look forward to a bright future of growing lending opportunities and robust profitability. As consumers embark on an oil-driven spending spree, the local market is as buoyant as it has been for many years. Consumer lending shows no signs of abating and margins remain fat enough to compensate for a tailing off in the issuance of government debt. With Saudi Arabia pumping out more than nine million barrels of crude at oil prices above $35 per barrel, the government is overflowing with liquidity.
QATAR: Gas-based development delivers growth(2004)
Qatari and international oil companies plan to spend more than 55 billion dollars in the next decade on hydrocarbons projects, according to an oil official in Doha this week. SIGNIFICANCE: Qatar has developed a strategy to reduce dependence on oil and maximize its other hydrocarbons resources, and has undertaken significant economic and political reforms. The vigor with which it has pursued these could provide a model for other Gulf states.
Reforms fuel growth boom(2005)
North Africa is a good place to do business. North African companies dominate the top companies rankings, be they the oil and gas companies of Algeria and Egypt; tourism companies in Tunisia and Morocco or construction, telecoms and IT businesses throughout the sub-region. Egypt's foreign reserves broke the $17 billion level to record $17.32 billion last February, compared to $16.6 billion in January. The formal economy is still dominated by the oil and gas sector, with Sonatrach accounting over 40% of GDP and 95% of exports. The telecoms sector has also posted strong growth. In the year September 2004, Orascom Algeria, through its subsidiary Djezzy, saw its revenues increase five-fold since 2002, from $107 million to $523 million. Algeria, through Sonatrach, is now the second largest supplier of gas to Europe after
US: mixed blessings(2006)
It's a great time to be in the US petroleum storage business. With imports of crude oil and gasoline reaching record levels and domestic refineries churning out products at an almost unprecedented pace, utilization rates have continued to climb at the tank farms that serve the energy industry. In many parts of the country, terminals are operating at or near capacity. In response to these favorable market conditions, the industry has experienced some expansion, with master limited partnerships (MLPs), such as Valero, leading the way. Magellan Midstream Partners (MMP) recently added 0.6 million barrels of capacity to its refined-products terminals in Corpus Christi, TX, and Marrero, LA. Because of the long lead time required, the decision to add tankage is not one firms take lightly. Some terminal companies are opting instead to expand capacity through acquisition, continuing the trend towards industry consolidation.
Growth rate in India may dip due to oil prices, inflation (2006)
New Delhi, Sep 3 -- India's scorching economic growth rate, the second fastest in the world after China for the last three years, is expected to slow down this fiscal due to high international oil prices and fear of high inflation.
The Confederation of Indian Industry (CII) is sticking to its June projection of India clocking around eight percent growth in 2006-07, less than the economic growth of 8.4 percent last fiscal.
The estimate of lower growth, the leading industry lobby states in its latest State of the Economy (SOE) report, is based on expectations of higher inflationary pressures ...
strives, some problems, and oil industry earnings growth is slowing down(2007)
The giant oil company, formed by the merger of HPCL. and Amoco Corp. in 1998, has set the bar high with production growth targets that exceed those of its competitors.
Oil & Gas(2009 )http://www.ibef.org/images/1px.gif
The oil and gas industry has been instrumental in fuelling the rapid growth of the Indian economy. The petroleum and natural gas sector which includes transportation, refining and marketing of petroleum products and gas constitutes over 15 per cent of the GDP.Petroleum exports have also emerged as the single largest foreign exchange earner, accounting for 17.24 per cent of the total exports in 2007-08. Growth continued in 2008-09 with the export of petroleum products touching US$ 23.63 billion during April-December 2008.In November 2008, the Cabinet Committee on Economic Affairs awarded 44 oil and gas exploration blocks under the seventh round of auction of the New Exploration Licensing Policy (Nelp-VII). The overall number of blocks brought under exploration now exceeds 200.The allocation is likely to bring in investments worth US$ 1.5 billion. The eighth round of auction is going to be later this year.
Govt may hike petrol price by Rs2 a litre, diesel by Re1 (2009)
The government has been mulling decontrolling petrol and diesel prices for couple of months now but may be fast losing the window as the move would now result in steep rise in fuel prices
Oil India plans IPO to raise as much as $570 mln( 2009)
NEW DELHI, Aug 25 (Reuters) - Explorer Oil India Ltd plans to raise as much as 27.8 billion rupees ($570 million) through an IPO next month, a senior official said, making it the second state-run firm to offer new shares to the public this year.Oil India, which deferred an IPO last year amid the global financial crisis, has set a price band of 950 rupees to 1,050 rupees a share, Director for Finance T. K. Ananth Kumar said by phone on Tuesday."We have set an exploration and production programmed for the next two years where we will use the IPO proceeds," he said.Oil India, which is tasked with scouting for oil and gas along with larger state-run rival Oil and Natural Gas Corp (ONGC.BO), has planned to invest 45 billion rupees in exploration and production over the next two years, he said.
Some alternate fuels show growth rate(2009)
A lot has been written lately about natural-gas powered vehicles. A story appeared Feb. 16 in the Oil & Gas Journal by Sam Fletcher that pointed out that natural gas has been around as a transportation fuel since World War II.Natural gas vehicles have increased dramatically in recent years from 1.7 million vehicles worldwide in 2001 to more than 7 million today. NGVs have increased rapidly in Europe and South America primarily because of environmental concerns and rising prices for crude oil, gasoline and diesel. The International Association for Natural Gas Vehicles predicts a growth rate of 18 percent, which represents about 65 million NGVs by 2020.
Objectives of Study
- The objective of the research is to study the growth rate of Hindustan Petroleum. It includes following:-
- Growth of Hindustan Petroleum as compare to the other petroleum companies.
- To study the brand image of the Hindustan Petroleum.
- To analyze the satisfaction level of the customers for the services of Hindustan Petroleum.
- The objective of the model is also to predict the behavior of a customer, regarding consumption of Hindustan Petroleum.
- Over all study of marketing process.
Universe: The area of study is Jalandhar and nearby areas.
Sampling Procedure: In this study, the respondents were chosen through convenience sampling was undertaken where all the accessible persons were contacted by tracing them from the records.
Contact Method: The respondents were contacted personally and information was derived and questionnaires were filled.
Sample Size: 100
Sampling Technique: A non-probability sampling technique i.e. convenience sampling is used.
- Research design is simply the framework or plan for a study used as a guide in collecting and analyzing the data. It is the blue print that is following in completing a study. The research design must be accordingly.
- Formulating objective of the study.
- Designing the method of data collection.
- Collection of data
- Suggestions and recommendations.
- Conclusion and interpretations.
- Research includes questionnaires, observations and facts used to find enquiries of different kind. Questionnaires for customers and retailers are framed out to get to know the main problems of both customers and retailers.
Source of Data Collection:-
PRIMERY DATA- It is the data which is collected initially for the first time. It helps in the validation of secondary data from secondary sources. The main sources of primary data are questionnaires, observations, personal interactions, interviews.
SECONDARY DATA- Secondary data is the details that are available in the form of facts and figures. The sources of secondary data are; Magazines, journals, websites, books.
In this research both primary and secondary data is used to get the accurate information.
Research instruments or tools used:-
Research instruments or tools used for collection of information are questionnaires, study of market, information collected from website. Through questionnaires customers and tell about the services provided by Hindustan Petroleum. They also give details about their problems. They give their suggestions for the improvement in the services. Their answers and information collected through websites, magazines and newspaper tell about the market position of Hindustan Petroleum. These tools help in analyzing and interpreting the result of the research.
Mathematical tools like mean score; percentage, chi square test and Z- test etc were used.
- I do think that there were some limitations in collecting the data from both primary and secondary sources. The main boundaries were:
- Some customer may not have given the actual information because of lack of time.
- The results found are bound to change with every introduction of new schemes by any of the brands.
- Some people manning the outlet did not share the required information with the research investigators.
- Data collection error may be there to wrong response from respondent as some time they are not right person who takes actual decision.
- As per knowledge data was collected and analyzed, error may be there
"Data Presentation, Analysis and Interpretation"
The above data is showing the growth of Hindustan Petroleum. The table is showing the growth in sales of Hindustan Petroleum in terms of cost of goods sold, EBITDA, IBECC, and Sales per employee. Now first of all we will study the sales of Hindustan Petroleum, the above data is showing the figures from the year 2003 to 2009. In 2003 the sales was -2.1% which is showing the lose of Hindustan Petroleum. It is showing the declining situation of the company, but if we will see the figures of 2004 then we will come to know that there is a quick rise in the sales of Hindustan Petroleum from -2.1% to 6.0%, which is very good for the growth of the company. Like this only if we will see the data of 2005 then there is a shocking growth in the sales of Hindustan Petroleum from 6.0% to 13.9%. But if we will look on the sales of 2006 the growth then there is a slow down in the sales of Hindustan Petroleum. If we will see the sales from 2007 to 2009 then we will come to know then the sales of Hindustan Petroleum is continues rise in sales. Same is the condition of cost of goods sold and EBITDA there is a continues rise in sales. If we will talk about the sales per employee then we will come to know that there is increase in sales per employee because the numbers of employees are also increasing. So we can say that if the number of employees will increase then the sale per employee will also be increase. So the overall table is showing the growth of sales of Hindustan Petroleum.
Analysis of the Respondent of Customers
The questionnaire (given in the end of the report) was used to gather information on the following areas:
- Where does Tata Hindustan Petroleum stand in the market against the other petroleum players?
- Problems of the customers regarding the service provided by Hindustan Petroleum.
- Suggestions and recommendations taken from customers.
Sampling Area: Jalandhar
Analysis has been done with the help of software named SPSS i.e. Software of Processing of Social Sciences. Main methods used for the analysis are Factor Analysis, Z-test, and Mean & Ranking as per the necessity of the question. It helps in determining the results on the basis of the answers given by customers who are using the service of Hindustan Petroleum primarily and secondarily. This software is very beneficial for getting the results. It is not time consuming and easy to operate. We just have to fill the answers in the SPSS sheet we get the required outcome in fractions of seconds.
For how long you are using the product of Hindustan Petroleum?
Interpretation: From the above pie chart we can interpret that out of 100%, 65%
customers of Hindustan Petroleum is using it from less than one year and only 20% and 15% customers are using it from one year and more than one year. It tells that earlier Hindustan was not so popular among the people.
Are you consuming the products Hindustan Petroleum primarily or secondarily?
Interpretation: When this question was asked to customers then out of 100 people, 79 are using the product as a primary customer and only 21 people are using is secondarily. That means those who are secondary customers are using other products also. But that percentage is quite low as compared to primary customers.
Hindustan Petroleum is providing you the best services among the other petroleum companies providers.
Interpretation: There again respondents are not strongly satisfied with this factor but they are satisfied with this statement. Therefore alternate hypothesis is accepted.
Who influence you most while purchasing the HP petroleum?
Interpretation: Out of 100 people 56% people make their own decision to buy the petroleum and 28% people buy the petroleum with the suggestion given by retailers. Only 9% people take the opinion of their family members and friends. This shows that people buy recharge petroleum according to their own needs.
Please rank the following parameters according to your preference while using Hindustan Petroleum?
Interpretation: This particular is ranked 4 by the 87 respondents out of 100. Therefore for using the products of Hindustan Petroleum customers do not consider this parameter much. So, this parameter does not influence the customers much.
Interpretation: This particular is ranked 1 by 78 customer out of 100. So, this means that customers consider brand image as a very important aspect for purchasing or using of any product.
Interpretation: The mean value of Brand image is least i.e. 1, so that it is preferred by maximum of respondents for using the product of HP. On second household purpose comes, having very less difference in mean values. Then industrial and in the end automobile comes with mean value of 4 which is least preferred by customers.
What is the minimum monthly expense you have incurred commonly on products of Hindustan Petroleum?
For this question, customers have given different answers. Some people spend between Rs.100 0and Rs.5000 Some people even spend more than Rs.5000 in a month. It is not fixed for every person. It depends upon person to person that what is his or her monthly expense. It may vary from month to month. If somebody is spending more in one month then he may spend either less or even more in the next month. So, we can conclude that average of Rs.5000 is incurred by customers.
According to you, how much celebrity endorsement or advertisement is important for the promotion of the petroleum industry?
Importance of advertisement
Interpretation: Out of 100 people, 72 respondents have voted for the importance of advertisement this means that it is very important and plays a vital role in promotion of any product. Other 18 people say that it is important and only 10 people are of the view that it is not important.But according to the above data it is simple to say that people come to know about the qualities and features of any product. They get aware of the new products available in the market through advertisements. So it is excellent source for encouragement and sponsorship of new article of trade.
What do you think about service provided by Hindustan Petroleum?
Service provided by Hindustan Petroleum
Interpretation: Therefore, respondents are agreeing with the above statement because calculated value is less than table value. 63 respondents agree with the statement that service provided by Hindustan Petroleum is good and 10 respondents considered that HP has provide very good Service.
Summary, Conclusions & Recommendations
This term paper is about the growth rate of Hindustan Petroleum. The survey has been done in Jalandhar and nearby places. This research also helps in gaining lots of practical knowledge which is different from mere theoretical knowledge.
The term paper contains the introduction of the Hindustan Petroleum. We are here in technological age. In the market which are providing different products and services to their customers so that they can sustain in this era of tough competition.
Now, India is coming up with new concepts to become a developed country in the world and also trying its best to provide all the available resources to its people. In this project both primary and secondary data is collected to analyze the market properly.
After collecting the data from primary and secondary sources, analysis has been done with the help of SPSS. Through this survey we come to know that growth rate of Hindustan Petroleum is increasing day by day.
- The survey has been done to take certain parameters which are essential for good petroleum service parameters. This survey has done in Jalandhar and nearby areas. The main conclusions that I have figure out are following:
- Hp has a good brand image in the market. Due to which customers buy their product.
- Advertisement play very effective role in promoting products.
- HP is able to provide the information of new schemes and products to the costumer on time.
- HP is successful to solve the problems of costumer on time.
- After doing the analysis of study we come across the number of conclusions. Hindustan Petroleum is facing number of problems in the market due to other companies. But as India has a huge market for business so there is a scope for those who really want to do something for themselves as well as for people. The main recommendations for Hindustan Petroleum are given below which can help it to improve and pick up its position.
- HP should work on its marketing strategies so that it can gain the attention of more and more people.
- More and more advertisement should be given.
- Seriously deals with the problems of customers. This may forces the customers to be loyal toward this brand.
- It should provide information about new schemes to its customer on time.
ReferencesReference to a book:
- Kothari, C.R." Research Methodology", 4th edition. New Delhi: Kalyani publishers,2007
- Kotler, Philip, (2006), 'Marketing Management: Planning, Analysis, Implementation and Control', New Delhi, Pearson Education, Inc.
- Naresh K. Malhotra., (2005), "Marketing Research", New Delhi: Pearson Education, Inc.
- http://proquest.umi.com/pqdweb?index=12&did=1687829361&SrchMode=1&sid=2&Fmt=3&VInst=PROD&VType=PQD&RQT=309&VName=PQD&TS=1256142461&clientId=129893 http://