Company Introduction
Procter and gamble, is multinational public company that was founded as a consumer goods industry in 1837. The company is based in Cincinnati, Ohio, US; as its headquarters and is headed over by CEO of the company that is Bob McDonald.
Statement of the Marketing Goal
The main philosophy behind the successful progression of the company is that besides cashing its global presence it focuses on every market segment which does business for the company; no matter of which extent that business is of! The mission statement of Procter and Gamble revolves around the standard elevation of human lifestyle by introducing chains of modernized and superior quality brands.
Procter & Gamble SWOT Analysis
Strengths
• Procter and gamble have the highest ranking in the world’s consumer good production means that they are at the top marketers in the world.
• They are strongly incorporated with the best sellers across the world especially in US.
• The strategies made by the management are highly appreciated because of strong managerial functions.
• Different types of innovations in the product are taken into functionality, which is liked by the customers.
• The services of the company are paid across the world.
Weaknesses
• Non acceptance for the tag of being private manufacturing producer that faces several bans associated to the countries in which they are present affect the worldwide sales , as they are present around the world.
• Presence at online media is very weak and the quality of leadership is also not up to the mark.
Opportunities
• The company has the opportunity to do online advertisements and have hold on online media to achieve the goals.
• Incorporation of least interest in doing such projects which are not suitable for the company and which directly affects the production.
• Company has the opportunity of purchasing different types of goods and to acquire the producers to enhance the position of the company.
• The commodities produced by the company are sold directly to the company instead of involving middlemen.
Threats
• The company may have chances of being privatized that affect the local growth of the company.
• Across the world the customer-ship of the products by the company are reducing especially in US.
• The strong competitors of the company are expanding their business by purchasing assets and emerging in the blooming markets.
Who are competitors?
Procter and Gamble has a very sensitive position in the local as well as the global market as it has a number edged and direct competition with several companies having the top competitors like;
Kimberly-Clark Corporation
Johnson and Johnson
Unilever
The competition is very tough among all of the mentioned companies and P & G; because of all there business perspectives are in close figures to each other.
Marketing Objectives for the Project
The company’s marketing objective is very sound and clear as it wants the company’s product to reach each and every part of the world with a special focus to its acquisitions and target markets. Moreover innovation is very much concentrated by the company as it is the sole key to the permanent and sustainable existence of any company.
Overall Objective
The overall objective of the company is to provide the world a standard living style. The company aims to raise the bar of living standards by providing the customers reliable and easily manageable products. The company objective also encompasses the positive feedback of the customers utilizing the products, stakeholders of the company, and the communities in which the company’s operations are carried on; to award the company with leading sales, innovation progression and remarkable sales.
Strategic Objectives for Every Primary Objective
The strategic objective of the company are as follows;
• Expanded share in the global market with 10 % increase ever year to achieve the desires target.
• The bundling strategy development between the company and its acquisitions to maximize the brand awareness of the company’s products.
• Incorporation of innovation to maximum extent to attain the desired standard demanded by the customers.
• Insurance of availability of the P & G products on the market shelves as the demand is often more than the supply.
• Development strategies formulation to raise the stock price of the company.
Target Market Segments
Target market of the company is expanded globally; regardless of the volume of the market in which the product is intruded. As the company has global expansion, so is its target market segment. Target population of the company includes the quality and standard conscious customers group that starts from middle to elite class customers. Different products that are introduced by the company are introduces purposively keeping in view the demands of the targeted market.
Procter & Gamble Marketing Mix
Product
• The company serves a versatile area of products; the major subdivisions being;
• Cleaning and food products based on coconut
• Personal cleansing and laundry products
• Health care products
• Laundry products related to hairs
These categories include hundreds of innovative products that are used in daily routine.
• The main commercialized and most demanded products of the company includes Head & Shoulders, Ariel, Joy, Olay, Pampers, Safeguard, Tide, Whisper, Downy and Pantene. These mentioned products are often called ten pillars of the company because of paybacks they gives to the company.[sky]
Price
• The company prices vary according to the product or service provided.
• The competitors pricing strategy and profit margins are kept before by the company while deciding the price of any article.
Place
• The company’s place is worldwide means that the company is serving its products on the global scale in all of the major markets.
• The business units of the company are seven in number and are involved in planning the strategic movements of the company.
• Market development organizations of the company are present in eight locations around the world serving their basic role in local market regarding product availably and sales there.
Promotion
• The company’s promotional strategies are very fine as it let the customer follow the product through its promotional channel.
• The promotional channel of the company starts with electronic media, following the same on print media along with the bill boards and sign boards.
Main strategies
1. Market Penetration
The presence of the company as is clearly stated that it is worldwide but the market penetration strategy of the company is aimed at raising the bar of the company by strengthening it through attainment of major market shares than the competitors. And this is preceded by providence of unique services, by promoting the premium prices and increasing the sales per unit.
2. Market Development
The market development strategy of the company starts at the observation of the market trends, most specifically those that are settled by the competitors. The innovation is desired in this context to keep on introducing the upgraded version of the company’s leading products; as the customer’s attention gets diverted if the same tag of the product runs for a long time.
3. Diversification Strategy
Diversification of the company is done by engaging more stakeholders along with acquiring the local or international company to increase the company assets as well as its global volume. The company’s acquisitions really mean to increase the categories of the products hosted by the company.
Monitoring and Control
The company trends are thoroughly monitored through the company’s specified departments such as business units and market development organizations. Market development organizations keep watching the market segments and there trends, however business units specifies the appropriate strategies.
Budget
The company revenues as stated by the financial statement of the last year are huge that is US$ 78.938 billion, while the operating income of the company was US$ 16.021 billion.
References
• Tushman Michael L. Anderson, Philip. (1996). Managing Strategic Innovation and Change. New York: Oxford University Press.
• Gamble, John E. (2006). Procter & gamble’s Acquisition of Gillette Goldenberg, Jacob.
• Strategic Planning. Gamble, John E. (2006). Procter & gamble’s Acquisition of Gillette http://www.answers.com/topic/strategic-planning
• Porter, Michael. (1998). Competitive Strategy: Techniques for Analyzing Industries and Competitors. Free Press
• Chapman, Michelle (2011-04-067). “Pringles sold to growing empire”. The Sun News. Associated Press.
• Shaw, Greg L and John R. Harrald. (2004). Identification of the Core Competencies Required of Executive Level Business Crisis and Continuity Managers.