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Importance of supply chain management essay
Importance of supply chain management essay
Importance of supply chain management essay
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Proctor and Gamble This paper will describe the four elements of the marketing mix (product, place, price, promotion). In addition, it will describe how each element is implemented within a specific organization and how the four elements relate to that organizations marketing strategy. The company used in this example is both a product and service driven company and is in business for profit. The company chosen to demonstrate the marketing mix has been a leader in the industry for many years as well as an innovator in product advertising design. Starting out as a soap and candle manufacturer, more than earned their place in the market place. The company is Proctor and Gamble (P&R) and their earliest beginnings are rooted in strong family tradition and humility from the early 1800s. The Proctor and Gamble of today is far different than the founding company operating in a global marketplace, in 140 countries, distributing their products and services to consumers two billion times a day. With such meager beginnings and at the time of inception, their product was needless to say, unpopular. Soap in the early part of the nineteenth century was not on the priority list for consumers to spend their monies on. P&G depended heavily on their candle making but as the light bulb became more popular they quickly realized that candles had become a thing of the past and quickly turned their attentions to the soap business. With a few governmental contracts and some investors, t...
The Procter and Gamble Company. (2013, November 17). Company Strategy. Retrieved March 22, 2014, from http://www.pginvestor.com: http://www.pginvestor.com/GenPage.aspx?IID=4004124&GKP=208821
An industry analysis has shown Procter & Gamble’s top competitors; in the personal product industry are Kimberly Clark, Elizabeth Arden, Colgate Palmolive and Avon. PG is a mature saturated company and finds it difficult to expand market share, for a company of its size. To deal with market share expansion and competition PG focuses on cost reduction through a decrease in promotions, coupons and plans to advertise heavily. PG recently teamed with Coke, Wrigley, and Gillett and has the available cash flow to make several businesses investments such as acquisitions and merger, and is not afraid of this business venture. Procter and Gamble has been around for a long time and their methods appeared to work for the company. The earnings growth in the past year has accelerated moderately, compared to growth in the past three years.
Even though L’Oreal did face a sufficient amount of competition from the big corporate companies such as Unilever and P&G, it never backed down. After holding stocks for 5 years in Helena Rubinstein and Ralph Lauren Fra...
P&G was founded in 1837 by William Procter and James Gamble as a maker of soaps and candles. P&G was known in Corporate America as a company to be admired and imitated. In addition, it was envied for its profitability as well as strong brand name. P&G has a long standing reputation as having life long employees. This dedication and loyalty by P&G's employees created the notion that outside sources were unwelcome and all products and ideas must come from within, however, this is not the way of the future.
Scope was introduced in 1967 by Procter & gamble, which is one of the most successful companies in the world. P&G philosophy is to provide superior quality and value that best fills the needs of the consumers; it was recognized as a leader in the Canadian packaged good industry.
Proctor and Gamble was founded in Cincinnati, OH, by William Proctor and James Gamble in 1837. Initially the company was started to compete with the 14 other soap and candle makers already established in Cincinnati, but around the end of the century, Proctor and Gamble dropped candle manufacturing altogether to focus on soap production. By 1890, Proctor and Gamble had increased their production to over 30 different types of soap.
Founded in 1837, Procter & Gamble is the #1 U.S. makers of household products and a recognized leader in the development, manufacturing, and marketing of a broad range of products including Crest toothpaste, Tide laundry detergent, Ivory soap, Pampers diapers, and Dawn liquid detergent. Procter & Gamble has operations in over 70 countries and employs over 100,000 people worldwide and markets to nearly five billion customers in over 140 countries.
The marketing mix is for the most part made up of four elements, and they are product, place, price, and promotion. These elements are time and again referred to as the four P’s. Countless sources will portray the marketing mix as a formula used in creating a feasible marketing strategy, with each component utilized in various ways and in different intervals supported depending upon the product or service the group or individual is attempting to market. The marketing mix will be described using three sources to illustrate the elements of the marketing mix. It will also express how each one of the four elements of the marketing mix impacts the expansion of an organization’s marketing strategy and tactics.
In 1837, James Gamble and William Procter, formerly of the UK, started a family-run soap and candle company after they married sisters. The company they formed so long ago grew to be an American multinational consumer goods company. This company is Procter & Gamble Co, better known as P&G.Its headquarters is located in Downtown Cincinnati, Ohio. Although it started out as a candle and soap manufacturer, today it offers a wide range of products in fabric and home care, health and grooming, beauty and baby, feminine and family care. Currently, P&G has 47 brands in its portfolio, 23 of which are worth a billion dollars and more and 14 which are worth about half a billion to a billion. Its slogan “Touching lives, improving life.” is a
P&G became the innovator in many large brands, this started with Ivory Soap. P&G boasted that this was the purest soap as well as the soap floated which was a concern of many people in this time. P&G put in a great deal of effort to market the soap in local papers, radio and other forms of media, this was a first effort by any brand to market with “Mass Media”. (P&G, 2014) P&G innovated the way the other brands began to market as well. P&G saw the opportunity to build a relationship between the consumers and product. As the 1900’s rolled around P&G grew into international markets it purchased another soap brand called Fairy Soap, out of England, which also marketed the soap, could float.
This also expands the sales market and product varieties of the company hence, high sales. Procter & Gamble is a giant in packaged consumer goods, the worldwide #1 in fabric care, baby care, feminine care and hair care, and a major force in virtually every other sector in which it operates (p&g_us, 2016). For example head shoulder shampoo of from P&G Company, this is a hair wash product. P&G Company develops the product by adding certain ingredients like vitamin E which is good for hair growth, strengthening, anti-dandruff and preventing hair fall. It also develops other products along with it, like conditioners which come together with the shampoo and hair treatment as well. Most of the products sell successfully in the market and a majority of people use the product because the positive effectiveness to it. From the customers over view, it was seen that most of the developed products where highly needed by the customers as they associate with the shampoo and make the hair texture even smoother not just cleaner. Considering the advantages and disadvantages of this technique, the pros for this is that it will increase the competition between the other competitors and the company will stand out for it, and the more the sale, the higher the profit earned by the company. the disadvantages of this is that when a new product is launched, the company is at a high risk of not being
P&G targeted the broad market while trying to achieve differentiation. And by differentiation I mean to get low cost differentiation. The products that they produced were very appealing and prevalent that the competitors tried to replicate them. Moreover, they focused on the price, quality and i...
There are many strong brands associated to P&G‘s name all over the globe with total number of brands exceeding 300 in over 180 countries. In fact the annual sales of around 24 brands is over 1,000 million dollars and of 20 brands it is between 500 million dollars to 1 billion dollar. These 44 brands constitutes 85% sales and profits of the company. So, the launch of dry shampoo will have an advantage of brand value and trust which P&G has gained over years.
Research is a crucial step in determining the problem or issue faced by the organisation (Gregory, 2000). Old Spice conducted their research and found that the brand’s image was fading away along with their sales at the start of 2010 (Rowe, n.d.). The image that the public had in mind was that Old Spice’s products were something their “grandfathers” would buy and use (Effie Awards, 2011). Sales had dropped due to the increased number of competitors for body wash products (Rowe, n.d.). So, what Old Spice needed to do was to come up with a plan to change the public’s perception towards the brand which will thus change the brand image and increase sales.
It should be considered that what appeals in one market, might not necessarily yield the same results in another. P&G initially generated only 20% of its revenues in developing countries, which is much lower than its competitors were. Consequently, P&G established smarter, more cost effective methods to cater for those markets. Firstly, P&G contracted manufacturers to reduce costs in production. Secondly, P&G engaged the consumers in the developing markets to establish their needs and made slight alterations to products to increase appeal. Resultantly sales in emerging markets increased with 19%.