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Andrew Saavedra

Andrew Saavedra. Company facts. In 1870 Standard O il was founded in Cleveland, Ohio by John. D Rockefeller Standard Oil was an oil producing, transporting, refining, and marketing company In 1911 the United States Supreme court ruled that Standard Oil was a monopoly

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Andrew Saavedra

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  1. Andrew Saavedra

  2. Company facts • In 1870 Standard Oil was founded in Cleveland, Ohio by John. D Rockefeller • Standard Oil was an oil producing, transporting, refining, and marketing company • In 1911 the United States Supreme court ruled that Standard Oil was a monopoly • In 1911 Standard Oil was forced to be broken up into 34 companies. • Standard oil, Humble oil, Esso, Enco were the most notable companies after the break up

  3. Marketing • The company was facing stiff competition from Texaco and Shell because those were the only two companies to market under one name • The first plan was to rebrand all stations as Enco, however they learned that “Enco” is similar in pronunciation to a Japanese term for “stalled car” • In 1972 They rebranded all their stations as Exxon • The first marketing strategy Exxon used was the slogan “Put a tiger in your tank” accompanied with the tiger mascot • In 1999 Exxon merged with Mobil to create Exxon Mobil

  4. Expansion into China • During the 1980’s Standard oil produced so much oil that it exceeded the U.S demand • They decided to expand into China in efforts to increase profits • The problem they faced was that the Chinese were using Vegetable oil to fuel lamps instead of Kerosene

  5. Expansion solution • In efforts to boost demand for kerosene, Standard Oil gave out free tin lamps to Chinese farmers encouraging them to switch from vegetable oil to kerosene • Standard Oil also changed their company name in China to Mei Foo. • Mei Foo translates into “American Trust” • Standard Oil saw a huge increase in profits after doing this

  6. Global locations • Exxon Mobil has locations in about 200 countries • In 2011 only 6% of their profits came from the U.S • Currently Exxon employs 102,300 people worldwide

  7. Legal controversy • 1989 in Alaska, an oil tanker called Exxon Valdez accidently ran into a reef. • Approximately 11 million gallons of oil spilled into • The captain of the ship was reportedly drinking heavily went the accident happened • Exxon Mobil was ordered to pay $787,000,000 dollars for clean up costs and damages

  8. Innovation • Exxon is trying to find an economical way to get fuel from algae • They paid Synthetic Genometrics INC. 100 million dollars to find an economical way to extract fuel from the algae • If they area able to find a way to do this they are expect profits rise dramatically

  9. Video • Commercial

  10. Works cited • http://fuelfix.com/blog/2013/03/05/exxon-mobil-plans-multibillion-dollar-baytown-plant-expansion/ • http://exxonmobil.com/Benelux-English/products.aspx • https://www.sciencenews.org/blog/science-public/exxon-valdez-oil-lingers-does-its-toxicity • http://www.businesswire.com/news/home/20140107006851/en/ExxonMobil-Celebrates-Singapore-Chemical-Plant-Expansion#.U153mFc256g

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