FOR MODULE MARKETING MANAGEMENT OF THE MBA (SPECIALISATION FINANCIAL SERVICES) COURSE
TABLE OF CONTENTSPage
2.Chapter 1: Introduction 2
3.Chapter 2: P&G 5
4.Chapter 3: Analysis of Product Strategy of P&G 8
A successful Product strategy is directly linked to the growth and prosperity of company such as Procter & Gamble (P&G). In this report, I tried to analyse the product strategy of P&G and tries to look at the main areas of focus. The Ansoff Matrix and the BCG matrix has been used to help better understand the product strategy of P&G. In doing the analysis the annual report 2009 of P&G has been used mainly.
CHAPTER 1: INTRODUCTION
This paper is on P&G and shows an analysis of the product strategy applied by the company. P&G is 6th in Fortune's Most Admired Companies 2010 list.
This chapter provides an overview of the company. It also provides information on product strategy and objectives of this study.
Procter & Gamble Co. (P&G) is a Fortune 500 American multinational corporation headquartered in Downtown Cincinnati, Ohio that manufactures a wide range of consumer goods. P&G is credited with many business innovations including brand management and the soap opera. Its purpose is to ‘provide branded products and services of superior quality and value that improve the lives of the world's consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper.’ (PG.com, 2005).
1.2 Product Strategy
A product can be defined ‘as anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or a need’. (Kotler & Armstrong, 2002, Principles of Marketing, 9th Edition, U.S.A).
Product strategy is a ‘marketing plan for a product based on the characteristics of the target market, market share objectives, desired product positioning within the market, and profit objectives. Strategic plans for a product are based on decisions regarding the four P's (product, place, price, promotion), financial targets and budgets, and tactical plans’, (Copyright c 2000, 1994, 1987 by Barron's Educational Series).
The development of product strategy one of the most important decisions an organisation will make since product plays a crucial role in demand, competitiveness and success as well as meeting the business strategy of the organization as a whole. Managers must understand the link of the product strategy on other areas of marketing like price, distribution and promotion.
1.3 Objectives of this study
The objectives of this study are to as follows:
1.To understand P&G by mainly referring to the Annual Report 2009 and also other information 2.To analyse the product strategy use by P&G as a marketing concept. In so doing, to use the different marketing strategies applicable
1.4 Chapter outline
1.4Objectives of the study
This chapter introduces the company P&G and also defines what product strategy is. Moreover, it lists the objectives of this study. The next chapter will focus more on P&G, that is, go deeper in what P&G is really all about.
CHAPTER 2: P&G
P&G’s product is well known around the world and brings beloved brands to consumers, including the 50 Leadership Brands that are among the world’s most well known household names. Product...