Sinopec Refined Oil Retail Strategy Study

The demand to oil product is increasing with the skyrocketing economy in China. Sinopec is one of the biggest state-owned oil company which belongs to petroleum chemical industry, and oil retail is the most important operation. This paper takes the oil retail of Sinopec as the subject, analyzes the new competitive environment that Sinopec has to face and gives some suggestion that Sinopec need to take on how to keep and expand exising market share.The key point of the thesis : oil product is a homogeneous product , in order to get the competitive advantage ,oil retail enterprise need to offer a extended product to meet a need or satisfy a requirement , that is the service and the network. By providing service and perfecting retail network, Sinopec can get more market share.This thesis consists of six chapters. Chapter 1 is about the important meaning of the selected study of the thesis. Chapter 2 has carried on the brief review to the related theories, including retail theory, service theory as well as delivery theory. Chapter 3 has mainly analyzed the domestic and foreign present situation about oil retail industry and oil retail running present situation of Sinopec. Chapter 4 is about an analysis on macroscopic environment and industry competition which Sinopec faces, and it summarizes in internal strengths, weaknesses and external opportunities and threats by using SWOT theory. Chapter 5 gives retail strategy about oil product in view of the above market analysis. Chapter 6 gives some suggestions of oil retail to Sinopec.The present oil retail market is in a specific period in China , it has the complex market environment . The author hopes that this article can give some feasible references to Sinopec's oil retail operation.