Description
The sensitivity of petroleum resource is clearly reflected in the fact that it has remained or continued to be the goose that lay a golden eggs for the Nigerian economy as well as the supreme foreign exchange earner contributing over 80% of government revenues and helps the development of Nigeria's infrastructures and other industries (Chukwu 2002).
2011 Akinyele, S.T. 303
STRATEGIC MARKETING AND FIRMS PERFORMANCE: A
STUDY OF NIGERIAN OIL AND GAS INDUSTRY
Akinyele, S.T. (PhD)
School of Business, Covenant University,Ota-i!eria.
"#ail$ akinsa#olu2000%yahoo.co#
A!"#$%"
The &ur&ose of this &a&er is to investi!ate the i#&act of strate!ic #arketin! an' fir#s &erfor#ance of the i!erian oil an'
!as in'ustry. This stu'y a'o&te' a survey research #etho'olo!y to e(a#ine strate!ic #arketin! an' fir#s &erfor#ance of i!erian oil
an' !as #arketin! co#&anies in an atte#&t to attain their 'esire' level of &erfor#ance. One hy&othesis )as for#ulate' fro# the
state#ent of research &ro*le#. Analysis of +ariance, ,earson -o#ent Correlation Analysis, .actor Analysis a#on! other statistical
tools )ere use' in testin! the hy&otheses. The overall results su!!est that strate!ic #arketin! is a 'river of or!ani/ational &ositionin!
in a 'yna#ic environ#ent, an' that it hel&s to enhance the 'evelo&#ent of ne) &ro'uct0service for e(istin! #arkets. These fin'in!s,
alon! )ith other interestin! fin'in!s of the stu'y, are 'iscusse'. .ro# the e#&irical an' anec'otal #ana!erial evi'ence as )ell as fro#
the literature i#&lications are 'ra)n for the efficient an' effective strate!ic #arketin! in the i!erian oil an' !as in'ustry.
Key &'#(!$ Strate!ic -arketin!, .ir#s, 1e&loy#ent, 2esources, ,erfor#ance
The sensitivity of &etroleu# resource is clearly reflecte'
in the fact that it has re#aine' or continue' to *e the !oose
that lay a !ol'en e!!s for the i!erian econo#y as )ell as
the su&re#e forei!n e(chan!e earner contri*utin! over
304 of !overn#ent revenues an' hel&s the 'evelo&#ent
of i!eria5s infrastructures an' other in'ustries 6Chuk)u
20027. 8o)ever, 'ue lar!ely to the hi!hly technical nature of
e(&loration an' &ro'uction, the sector 'e&en's su*stantially
on i#&orte' technolo!ies an' facilities for #ost of its
o&erations. 9n vie) of the critical i#&ortance of the sector
to the nation5s econo#y an' its ca&acity to !enerate far-
reachin! #ulti&lier effect, the !roo#in! of hi!hly skille'
in'i!enous #an&o)er to &artici&ate keenly in the activities
of the sector to re'ress the forei!n 'o#inance *eco#es
i#&erative 6Baker 200:7. ;ith a current &ro'uction ca&acity
of a*out 30 #illion *arrels &er 'ay 6*&'7, i!eria &lans to
increase her &ro'uction ca&acity to a*out .?
trillion stan'ar' cu*it feet6scf7 6Africa Oil an' =as 200@ to a &eak of 2.3 #illion *&'.. 8o)ever,
!as resources are lar!ely unta&&e' an' i!eria5s !as
reserves &lace it a#on! the to& ten countries in the )orl'
in that cate!ory 6 "k&u 2007. -any research
efforts in the area of #arketin! &ractices in 'evelo&in!
econo#ies have 'ealt )ith #acro issues an' e#&hasi/e'
the #ana!e#ent of co#&any5s structure an' strate!ies,
con'uct an' &erfor#ance of #arketin! activities as they
relate to &erfor#ance in'ices such as #arket share, !ro)th,
efficiency an' )ell *ein! of consu#ers an' clients 6Sa#li
an' Eaynak 1@@
The sensitivity of petroleum resource is clearly reflected in the fact that it has remained or continued to be the goose that lay a golden eggs for the Nigerian economy as well as the supreme foreign exchange earner contributing over 80% of government revenues and helps the development of Nigeria's infrastructures and other industries (Chukwu 2002).
2011 Akinyele, S.T. 303
STRATEGIC MARKETING AND FIRMS PERFORMANCE: A
STUDY OF NIGERIAN OIL AND GAS INDUSTRY
Akinyele, S.T. (PhD)
School of Business, Covenant University,Ota-i!eria.
"#ail$ akinsa#olu2000%yahoo.co#
A!"#$%"
The &ur&ose of this &a&er is to investi!ate the i#&act of strate!ic #arketin! an' fir#s &erfor#ance of the i!erian oil an'
!as in'ustry. This stu'y a'o&te' a survey research #etho'olo!y to e(a#ine strate!ic #arketin! an' fir#s &erfor#ance of i!erian oil
an' !as #arketin! co#&anies in an atte#&t to attain their 'esire' level of &erfor#ance. One hy&othesis )as for#ulate' fro# the
state#ent of research &ro*le#. Analysis of +ariance, ,earson -o#ent Correlation Analysis, .actor Analysis a#on! other statistical
tools )ere use' in testin! the hy&otheses. The overall results su!!est that strate!ic #arketin! is a 'river of or!ani/ational &ositionin!
in a 'yna#ic environ#ent, an' that it hel&s to enhance the 'evelo&#ent of ne) &ro'uct0service for e(istin! #arkets. These fin'in!s,
alon! )ith other interestin! fin'in!s of the stu'y, are 'iscusse'. .ro# the e#&irical an' anec'otal #ana!erial evi'ence as )ell as fro#
the literature i#&lications are 'ra)n for the efficient an' effective strate!ic #arketin! in the i!erian oil an' !as in'ustry.
Key &'#(!$ Strate!ic -arketin!, .ir#s, 1e&loy#ent, 2esources, ,erfor#ance
The sensitivity of &etroleu# resource is clearly reflecte'
in the fact that it has re#aine' or continue' to *e the !oose
that lay a !ol'en e!!s for the i!erian econo#y as )ell as
the su&re#e forei!n e(chan!e earner contri*utin! over
304 of !overn#ent revenues an' hel&s the 'evelo&#ent
of i!eria5s infrastructures an' other in'ustries 6Chuk)u
20027. 8o)ever, 'ue lar!ely to the hi!hly technical nature of
e(&loration an' &ro'uction, the sector 'e&en's su*stantially
on i#&orte' technolo!ies an' facilities for #ost of its
o&erations. 9n vie) of the critical i#&ortance of the sector
to the nation5s econo#y an' its ca&acity to !enerate far-
reachin! #ulti&lier effect, the !roo#in! of hi!hly skille'
in'i!enous #an&o)er to &artici&ate keenly in the activities
of the sector to re'ress the forei!n 'o#inance *eco#es
i#&erative 6Baker 200:7. ;ith a current &ro'uction ca&acity
of a*out 30 #illion *arrels &er 'ay 6*&'7, i!eria &lans to
increase her &ro'uction ca&acity to a*out .?
trillion stan'ar' cu*it feet6scf7 6Africa Oil an' =as 200@ to a &eak of 2.3 #illion *&'.. 8o)ever,
!as resources are lar!ely unta&&e' an' i!eria5s !as
reserves &lace it a#on! the to& ten countries in the )orl'
in that cate!ory 6 "k&u 2007. -any research
efforts in the area of #arketin! &ractices in 'evelo&in!
econo#ies have 'ealt )ith #acro issues an' e#&hasi/e'
the #ana!e#ent of co#&any5s structure an' strate!ies,
con'uct an' &erfor#ance of #arketin! activities as they
relate to &erfor#ance in'ices such as #arket share, !ro)th,
efficiency an' )ell *ein! of consu#ers an' clients 6Sa#li
an' Eaynak 1@@