Marketing Strategies to Enhance Profitability Among International Oil and Gas Service Companies

Marketing Strategies to Enhance Profitability Among International Oil and Gas Service Companies by Hesameddin Zafari MS, Curtin University, 2006 BS, University of Tehran, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2017 Abstract A significant drop in oil price in 2014 resulted in enormous pressure on marketing managers of international oilfield service companies to address new market expectations. In such competitive conditions, some marketing managers lack strategies to leverage profitability during downturns. The purpose of this multiple case study was to explore strategies that senior marketing managers of international oilfield service companies inA significant drop in oil price in 2014 resulted in enormous pressure on marketing managers of international oilfield service companies to address new market expectations. In such competitive conditions, some marketing managers lack strategies to leverage profitability during downturns. The purpose of this multiple case study was to explore strategies that senior marketing managers of international oilfield service companies in the Middle East successfully used to enhance sales performance, revenues, and profits during periods of declining oil prices. Theory of market segmentation, targeting, and positioning formed the conceptual framework for this study. Data were collected through semistructured interviews of 5 senior marketing managers of international oilfield service companies throughout the Middle East. Data analysis was composed of organizing data, becoming familiar with the data, putting data in nodes, giving proper codes, interpreting the data, and presenting the results, which led to 5 primary themes including customers, relationship, differentiation, services, and prices. To increase reliability and reduce bias, triangulation was achieved by combining, comparing, and contrasting companies’ annual reports and website contents with participants’ information. Identifying the right strategies that lead to higher profitability is crucial for international oilfield companies. Developing dynamic segmentation strategies, targeting new market players, differentiating via innovation, and promoting reliable relationships increase the likelihood of grasping new opportunities. This study’s implications for positive social change include having more sustainable and profitable firms contributing to prosperity of local communities, which leads to healthier economies and more stable societies. Marketing Strategies to Enhance Profitability Among International Oil and Gas Service Companies by Hesameddin Zafari MS, Curtin University, 2006 BS, University of Tehran, 2002 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2017 Dedication I dedicate this doctoral study to my delightful and devoted parents for all the supports, encouragements, and inspirations they have made throughout my life to ignite my passion for succeeding. To my lovely wife, for all her patience, love, and unwavering endorsements and praises she has made during my doctoral study. To my beautiful sister, for her compassion and emotions she has dedicated to me. And, to my wonderful grandmother, for who she was and what she taught me. Although she passed away without seeing my doctoral graduation day, I am sure she is smiling down from heaven and is very proud of me. Acknowledgments Accomplishment of a challenging, rigorous, and stimulating doctoral study requires a great amount of support from families, friends, peers, and, of course, faculty. I would like to express my deepest gratitude to my committee chair, Dr. Cheryl McMahan, the most inspiring and the ultimate source of support and encouragement. She has made a beautiful footprint on my heart and been a scholarly example of professionalism and excellence. My gratitude expands to my second committee member, Dr. Mohamad Hammoud, for his careful attention to detail and erudite insights on my doctoral study. Also, I would like to thank my URR, Dr. Neil Mathur, for his thorough reviews and constructive comments. Special thanks to Dr. Freda Turner, the DBA program director, for her continuous support to DBA students. The final appreciation goes to my family, friends, and peers for their enthusiasm, support, comprehension, and love throughout this magnificent journey. God bless you all.