abhishreshthaa
Abhijeet S
Zapata Corporation (NYSE: ZAP) is a holding company based in Rochester, New York and originating from an oil company started by a group including the former United States president George H. W. Bush. Various writers have alleged links between the company and the United States Central Intelligence Agency.
The company traces its origins to Zapata Oil, founded in 1953 by future-U.S. President George H. W. Bush, along with his business partners John Overbey, Hugh Liedtke, Bill Liedtke, and Thomas J. Devine. Bush and Thomas J. Devine were oil-wildcatting associates.[1] Their joint activities culminated in the establishment of Zapata Oil.[1] The initial $1 million investment for Zapata was provided by the Liedtke brothers and their circle of investors, by Bush's father and maternal grandfather—Prescott Bush and George Herbert Walker, and his family circle of friends.
Hugh Liedtke was named president, Bush was vice president; Overbey soon left. In 1954, Zapata Off-Shore Company was formed as a subsidiary of Zapata Oil, with Bush as president of the new company. He raised some startup money from Eugene Meyer, publisher of the Washington Post, and his son-in-law, Phillip Graham.[2][3]
Zapata Off-Shore accepted an offer from an inventor, R. G. LeTourneau, for the development of a mobile but secure drilling rig. Zapata advanced him $400,000, which was to be refundable if the completed rig did not function. If it did function, LeTourneau would get an additional $550,000 together with 38,000 shares of Zapata Off-Shore common stock.
Zapata Corporation split in 1959 into independent companies Zapata Petroleum, headed by the Liedtkes,and Zapata Off-Shore, headed by Bush funded with $800,000.[4] Bush moved his offices and family that year from Midland, Texas to Houston. In 1963, Zapata Petroleum merged with South Penn Oil and other companies to become Pennzoil.
According to a George H. W. Bush-biographer Nicholas King, in the late-1950s and early-1960, Zapata Off-Shore concentrated its business in the Caribbean, the Gulf of Mexico, and the Central American coast.[5] The U.S. government began to auction off mineral rights to these areas in 1954. In 1958, drilling contracts with the seven large U.S. oil producers included wells 40 miles (64 km) north of Isabela, Cuba, near the island Cay Sal. In July 1959, Cuba's Batista government was overthrown by Fidel Castro. Zapata also won a contract with Kuwait.
marketing plan, the main goal is to analyse the business environment where the company will be marketed. The credit card and banking service of the company is chosen to be marketed in China. It is noted that the main issue for this expansion is in line with the decision making approach of the company on whether the company should be expanded in China.
To be able to solve such issue, the solution is to execute or implement strategic marketing approach in line with the advertisement and promotion to make their target customers become of aware that the company is entering the Chinese market. Furthermore, the strategic marketing planning for expanding in the global market can also be attributed as a better solution to make sure that the products and services (Zou & Cavusgil, 1996) of the company will be introduced effectively, specifically in the Chinese market. The only problem that remains unsolved is to find an industry (bank) which will commit for the distribution of the product. Hence, it is recommended that the industry must be able to use a more rigorous and comprehensive decision making and planning approach to enhance their market value in the Chinese market.
In the marketing entry to the Chinese market, it is essential that the Barclays marketing directors and managers must be able to conduct a market research that will investigate the potentiality of the market acceptance of the products and services offered by Barclays. Investigation should include the market evaluation and identify the most applicable market entry approach to be used to make sure that they will meet the organisational objective of Barclay in providing and reaching more customers in the global market.
Furthermore, it is also important that the marketing manager should consider the investigation of the possible risks; problems and issues that will affect decision making approach as it enter the Chinese market and other part s of the world (Hofstede, Steenkamp & Wedel, 1999). It is also noted that the marketing manager should also develop advertising and promotion campaign to ensure that the Chinese market will be aware of the products and services offered by Barclays.
Marketing Mix Strategies
In order to decide effectively in marketing the company to the Chinese market, the principle of the marketing mix is considered. Since marketing mix consists of controllable variable that is frequently adjusted to meet the changing needs of the customers and clients in the banking industry and other dynamics of the marketing environment (McCarthy, 2004).
With regards to the marketing plan, the marketing mix composes of both the short and the long term approaches makes for a more profitable marketing mix and strategy. These strategies aims on building brand awareness and give sales revenue a gradual and permanent boos and it also create immediate revenue boost by giving customers an incentive to purchase
The company traces its origins to Zapata Oil, founded in 1953 by future-U.S. President George H. W. Bush, along with his business partners John Overbey, Hugh Liedtke, Bill Liedtke, and Thomas J. Devine. Bush and Thomas J. Devine were oil-wildcatting associates.[1] Their joint activities culminated in the establishment of Zapata Oil.[1] The initial $1 million investment for Zapata was provided by the Liedtke brothers and their circle of investors, by Bush's father and maternal grandfather—Prescott Bush and George Herbert Walker, and his family circle of friends.
Hugh Liedtke was named president, Bush was vice president; Overbey soon left. In 1954, Zapata Off-Shore Company was formed as a subsidiary of Zapata Oil, with Bush as president of the new company. He raised some startup money from Eugene Meyer, publisher of the Washington Post, and his son-in-law, Phillip Graham.[2][3]
Zapata Off-Shore accepted an offer from an inventor, R. G. LeTourneau, for the development of a mobile but secure drilling rig. Zapata advanced him $400,000, which was to be refundable if the completed rig did not function. If it did function, LeTourneau would get an additional $550,000 together with 38,000 shares of Zapata Off-Shore common stock.
Zapata Corporation split in 1959 into independent companies Zapata Petroleum, headed by the Liedtkes,and Zapata Off-Shore, headed by Bush funded with $800,000.[4] Bush moved his offices and family that year from Midland, Texas to Houston. In 1963, Zapata Petroleum merged with South Penn Oil and other companies to become Pennzoil.
According to a George H. W. Bush-biographer Nicholas King, in the late-1950s and early-1960, Zapata Off-Shore concentrated its business in the Caribbean, the Gulf of Mexico, and the Central American coast.[5] The U.S. government began to auction off mineral rights to these areas in 1954. In 1958, drilling contracts with the seven large U.S. oil producers included wells 40 miles (64 km) north of Isabela, Cuba, near the island Cay Sal. In July 1959, Cuba's Batista government was overthrown by Fidel Castro. Zapata also won a contract with Kuwait.
marketing plan, the main goal is to analyse the business environment where the company will be marketed. The credit card and banking service of the company is chosen to be marketed in China. It is noted that the main issue for this expansion is in line with the decision making approach of the company on whether the company should be expanded in China.
To be able to solve such issue, the solution is to execute or implement strategic marketing approach in line with the advertisement and promotion to make their target customers become of aware that the company is entering the Chinese market. Furthermore, the strategic marketing planning for expanding in the global market can also be attributed as a better solution to make sure that the products and services (Zou & Cavusgil, 1996) of the company will be introduced effectively, specifically in the Chinese market. The only problem that remains unsolved is to find an industry (bank) which will commit for the distribution of the product. Hence, it is recommended that the industry must be able to use a more rigorous and comprehensive decision making and planning approach to enhance their market value in the Chinese market.
In the marketing entry to the Chinese market, it is essential that the Barclays marketing directors and managers must be able to conduct a market research that will investigate the potentiality of the market acceptance of the products and services offered by Barclays. Investigation should include the market evaluation and identify the most applicable market entry approach to be used to make sure that they will meet the organisational objective of Barclay in providing and reaching more customers in the global market.
Furthermore, it is also important that the marketing manager should consider the investigation of the possible risks; problems and issues that will affect decision making approach as it enter the Chinese market and other part s of the world (Hofstede, Steenkamp & Wedel, 1999). It is also noted that the marketing manager should also develop advertising and promotion campaign to ensure that the Chinese market will be aware of the products and services offered by Barclays.
Marketing Mix Strategies
In order to decide effectively in marketing the company to the Chinese market, the principle of the marketing mix is considered. Since marketing mix consists of controllable variable that is frequently adjusted to meet the changing needs of the customers and clients in the banking industry and other dynamics of the marketing environment (McCarthy, 2004).
With regards to the marketing plan, the marketing mix composes of both the short and the long term approaches makes for a more profitable marketing mix and strategy. These strategies aims on building brand awareness and give sales revenue a gradual and permanent boos and it also create immediate revenue boost by giving customers an incentive to purchase