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TULSA, Okla. -- Looking to continue building brand strength and to capitalize on the momentum it's gained in the convenience store and petroleum market over the past two years, CITGO Petroleum Corp. said it is introducing the Mystik retail brand as a new alternative to the traditional CITGO branding package.
The brand, available Oct. 1, is targeted for competitive markets where CITGO's customary retail package may not be viable, said Marty Sedlacek, general manager of light oils marketing.
"We realized that in order for us to become the total fuels supplier for our customers, we need to offer them some choices," Sedlacek said. "Our marketers have diverse portfolios that include strong CITGO locations as well as other locations where the new Mystik option makes more sense.
"These locations still represent viable potential for CITGO in terms of retained volume, and we believe that offering this option will help CITGO retain and maintain positive, productive relationships with our marketers who have a wide variety of locations."
As a basic, no-frills branding package, the Mystik option offers economies of scale and a number of benefits, including:
* Secure fuel supply
* Crisp, attractive street presentation
* Well-known and accepted brand name
* Affordable and easy installation and maintenance
* Easy fit onto a current CITGO location
"The real advantage to going the Mystik route rather than a private brand is the ability to put forth an attractive, yet affordable, street presence while receiving the benefits of consistent, reliable supply of product," Sedlacek said.
The Mystik branding package includes materials for the canopy, dispensers, signs and buildings. Additionally, the package includes point-of-sale access for processing major credit cards such as Visa, MasterCard and Discover, major fleet credit cards and a full range of debit cards.
Because it is an economy option, the Mystik package does not include facility appearance funding, advertising support or the CITGO proprietary payment card program, Sedlacek said. In addition, the Mystik brand will not be available at all CITGO terminals.