In Bangladesh, a lubricant oil market is being one of the volatile markets for the oil marketers. However, it isn’t like another consumer market, where each time you buy a product or service to participate in it.
The nature of communication strategy of this industry has outlined few observations. It has found least reporting or analysis on this segment, which falls in the power and energy sector.
In recent years, the growth of power sector has got more attention to media because of the national agenda by the present govt.
More than two-year working experiences in this open market, a brief analysis of the case studies and market insights has drawn the nature of the lubricants oil market in Bangladesh.
The lack of statistical data and the least communication practice might see as the limitations to its natures.
These natures are limited to communication strategy of the lubricants oil industry.
First, the marketers of the most well-known lubricants oil brands are national authorized dealer. Apart from few prominent brands like Mobil, Shell, and Castrol, most are focused on distribution-based business rather than the brand engagement.
Second, the attributes or way of business has followed the distributorship channels or to reach out the retailer’s doors. Most importantly its nature of business has avoided the end users or the target market.
Third, it has found that the end-users aren’t the key stakeholders in this market. From the communication perspective, the stakeholder analysis on this market also observed that the media isn’t placed in the stakeholder also.
Fourth, the distributors, retailers, and garage mechanics are the key players in the automotive and mono-grade market. However, the marketer always has to think about purchase decision of customers in the consumer market.
Fifth, the lack of interest, as well as the knowledge on lubricants oil products, also keeps the market away from the end users.
Sixth, from the very beginning, the noted lubricants oil brands like Mobil, Shell, Castrol, Caltex, and Total have enjoyed its business in this competitive market. Still, now they are enjoying the current growth with that brand value, but they never tried to transform this market embracing a new communication strategy.
Market observation may express that the key brands are enjoying their brand values but it is still a question how this brand value is working on this sales-driven market.
Other quality brands, also the local brands are trying to take the market share but become fail to achieve that goal because of the nature of the market.
In this backdrop, establishing a new brand in this market is quite hard until the end users are being learned of the lubricants oil products.
However, this market has that potential to transform its communication strategy.
This above discussion has brought in front of the readers as many quality and local brands are making this market more complex.
Lack of market insights, communication practitioners, and sales-driven marketing strategy causes the lagging behind of the marketers.