The Effect of Product Differentiation on Profitability in the Petroleum Industry of Ghana (Published)
Firms differentiate their products to avoid ruinous price competition, but performance depends crucially on the degree of location. A company’s physical product offering may be highly differentiated on features not provided by competitors in the same industry, some also differentiate their product on performance with basis on power, professional credibility etc. This research comprises 15 oil marketing companies in Ghana, which is made up of one government owned and 14 privately owned. The population is homogeneous in nature, due to the homogeneity of the population; a cluster sampling technique is used to select just a company out of the population. This selected company is Total Ghana Company. Members were selected using a non probability sampling technique specifically the purposive sampling technique. A total of 30 members were selected and administered with Questionnaires whiles others were also interviewed. The main variables of interest are product differentiation, profitability and patronage of Effimax.
Keywords: Effimax, Industry, Petroleum, Product Differentiation, Profitability