Marketing of Mineral Products: Oil and non-oil

Mineral Products

Mineral products are natural resources that can be regarded as free gift of nature. Most resources are housed by the soil, their control is in the hands of the government. There is put into use or converted to use require expertise and high level of technical abilities, they are refined, mined or extracted as the case may be and are mostly raw materials which are used for the production of physical products. Examples are coal, copper, iron ore, petroleum etc.

Oil Products

Oil products are lubricants and are essential, pivotal, and highly instrumental to the economic growth and development of many nations. Most countries of the world depend on oil products especially petroleum products for survival. They are used for industrial, home equipment and machinery. Examples of oil product are the petroleum which when refined produces gasoline, diesel, kerosene, oil, petroleum, bitumen which is used by a road construction company to tar the roads.

Non-oil products

Non-oil products refer to other essential natural products which are used as raw materials and research items and components for the production of other commodities and for advancing cognitive knowledge respectively. They are found in laboratories, with scientists, agriculturists, researchers and others. Examples are coal, zinc, iron ore, copper, aluminium, etc.

Differences between oil and non-oil products

1. Oil products are lubricants and are essential, pivotal, and highly instrumental to the economic growth and development of many nations, while Non-oil products refer to other essential natural products which are used as raw materials and research items.

2. Oil products are used for industrial, home equipment and machinery, while Non-oil products are used in laboratories, with scientists, agriculturists, researchers and others.

3. Examples of oil product is the petroleum which when refined produces gasoline, diesel, kerosene, oil, petroleum, bitumen. While examples of non-oil products are: coal, zinc, iron ore, copper, aluminium, etc.

Methods of Marketing Mineral Products

Methods of marketing mineral products are technical and special from other commodities. Only a few decision-makers may participate in their marketing. Mineral products are not commonly seen commodities especially the non-oil products, they are used by students and researchers for researches and experiments, lecturers, agriculturists, laboratories among others.

One of the methods by which petroleum products is marketed is through the distributor otherwise known as Independent Petroleum Marketers of Nigeria. Members of this organization are popularly referred to as petroleum marketers, oil magnate or dealers. They own petroleum stations where motorists and other and another category of markets have access to the products.

Other methods of marketing mineral products include Independent retailer, commodity market, products exhibition or show grounds, hypermarkets, multiple stores, mobile stores, mobile retailers, etc.

It is important to note that most mineral resources can be classified as fabricating materials because they have undergone some degree of initial processing before they enter the product manufacturing process.

The more complex or complicated a product is more likely to contain both raw and fabricating materials, i.e oil and non-oil products (mineral resources), for instance, computer and calculators use basic materials such as silicon crystal, glass and metals in their production process.