P&G: A Global Leader in Consumer Products Innovation

P&G is a huge company and a global manufacturer of prominent products in the market. The company develops products for all segments of consumers needs. P&G distributes products around the globe for the consumers' beauty, food, home, and health care segments. The company became known for innovating affordable and high quality products in the market. Though, P ; G has already established a name in the marketplace, the company still continues to analyze the products, target markets, competitors, and business segments.

Procter and Gamble has become one of the biggest and reputable consumer products companies in the world. Numerous products have already introduced to the consumers and the company keeps on increasing profits despite countless competitors in the market. Today, P;G keeps on dominating the marketplace by having thousands of employees and hundreds of products all over the world. The company's products have evolved the life cycle but the company remains prominent all throughout the century.

P&G made a history when they introduced a new kind of product in the market a few decades ago. Tide detergent soap gave P&G an opportunity to be ahead of the competition. However, Tide has undergone through a lot of tests before it was delivered to its target markets in U. S. and later on in the countries around the world. There was a lot of planning and testing before this new product entered the market place. It was called Product X at first until they came up with a brand name. It appeared in the market shelves in a box colored orange and yellow and the name Tide in blue.

Order custom essay P&G: A Global Leader in Consumer Products Innovation with free plagiarism report

450+ experts on 30 subjects Starting from 3 hours delivery

Get Essay Help

That was the first packaging of Tide which made it easier to recognize by the consumers. Nowadays, Tide is distributed in the market in different packaging styles and a lot of variants. The competitors have introduced products like Tide but P&G has been successful in keeping Tide salable in the market. The company promoted the product through television and radio advertisements in partnership with an advertising agency. They introduced the product in the market through a concept which they called “Washday Miracle” with a tagline “cleaner than soap”.

The production of Tide also made way to the production of washing machines that also became a demand at that time. Until now Tide has a lot of advertisements using famous personalities and ordinary people as endorsers of the product. Brand awareness was easy for P&G because Tide was also able to expand the market for a short period of time. The consumers' demands were relatively high, thus prompting P;G produce rapidly. The use of advertisements and other marketing strategy like sponsoring programs on television and radio made P;G's products more appealing to the public. Learn more about T ide Detergent mission statement

The success of Tide in the market was constant despite the introduction of other detergent soap in the market. Colgate introduced Fab, while Lever launched Surf – both served as direct competitors of P&G’s Tide. However, P&G was able to maintain the market share in spite of the introduction of other detergent soaps in the market. They showed Tide claiming an unprecedented market share – more than twice what any earlier brand had been holding. They also indicated that Tide significantly boosted P&G's total share of the laundry market.

Finally, P;G chartered a significant consolidation of brand focus. At the same time as P;G was increasing in total share, it was reducing the number of brands it was supporting in the category. (Dyer, Dalzell, ; Olegario 2004, p. 80) Despite the introduction of new laundry soaps, the price of Tide was not affected because of the strong brand recognition it had in the market. The company relied on the loyalty of the consumers on the brand. Tide has been in the market for decades already and obviously it still dominates the laundry soap industry until today.

With the existence of new laundry soap, Tide is still able to survive and have an edge among its competitors. Each year, Procter and Gamble releases new product in the market. Apparently, all the products enter the market and make strong brand recognition easily. Most of the P;G products stay long in the market, and has seemed to evade the decline stage because of their apparent strong survival in the market sales. This is how Proctor and Gamble executes their marketing mix.

Today, they are distributing almost 250 brands in the countries around the world and each product makes use of different strategies to be applied in order to assure the products' marketability. Tide is just one of the products of P&G, in fact, it is one of the first products of the company, but P&G is able to maintain the loyalty of the consumers despite the existence of many competitors. Proper mixing of marketing strategies makes the Tide and other products of Proctor and Gamble lengthen the life cycle in the market place.

References

Dyer, D. , Dalzell, F. , & Olegario, R. (2004). Rising Tide: Lessons from 165 Years of Brand Building at Procter & Gamble. USA: Harvard Business Press. Net

MBA, Business Knowledge Center. (2007). Marketing Mix(the 4 P's of Marketing). Retrieved November 6, 2008 from http://www. netmba. com/marketing/mix/

Slatter, J. (2007). The 100 Best Stocks You Can Buy 2008 .

Canada: Adams Media Stone, P. (2001). Make Marketing Work for You: Boost Your Profits with Proven Marketing Techniques. United Kingdom: How To Books Ltd.

Don't let plagiarism ruin your grade

Run a free check or have your essay done for you

Check my essay Hire Writer