Q&A with SEAOIL CEO Glenn Yu on Combining Innovation and Integrity

Q&A with SEAOIL CEO Glenn Yu on Combining Innovation and Integrity

interviews, Q&A
Q1: SEAOIL is the largest independent fuel company in the Philippines and is now one of the top 60 corporations in revenues. Can you share with us the major challenges you encountered as a new entrant in the retail business in 1997 and how you overcame them? A: When we started the retail business, we were aware that we will compete with industry giants who have been in the business for decades. We needed to create our own niche to secure a sizeable share of the market, so we leveraged on lower pricing to attract customers. True enough, price-conscious motorists, specifically the PUV drivers, became our frequent patrons. Long lines of jeepneys were a usual sight at our stations. However, when the bigger oil players started to feel the pinch they began matching our pump prices. We realized that pricing alone cannot be relied upon as a competitive advantage in this industry…
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