Prof.V.K.Jain Akash Garg (MB12FC31) Tushar Singh (MB12FC57) MBA-SEM II
Marketing professionals emphasize on creating, maintaining, protecting, and enhancing brands. There are four stages in life of any product i.e. Introduction, Growth, Maturity and Decline. The same stages also faced by COLGATE Toothpaste brand. This research is an endeavor in the direction to find out what business strategies did Colgate adopted and how has it reached and maintained its brand name and market share till date. For the study secondary data has been used which was collected by other researchers and data collecting firms and from company itself.
In 1806, William Colgate introduced starch, soap and candle factory on Dutch Street in New York City under the name of "William Colgate & Company". In 1857, William Colgate died and the company was reorganized as "Colgate & Company" under the management of Samuel Colgate, his son. In 1873, the firm introduced its first toothpaste, aromatic toothpaste sold in jars. His company sold the first toothpaste in a tube, Colgate Ribbon Dental Cream, in 1896. In 1928, Palmolive-Peet bought the Colgate Company to create the Colgate-Palmolive-Peet Company. In 1953 "Peet" was dropped from the title, leaving only "Colgate-Palmolive Company", the current name. Today Colgate has numerous subsidiary organizations spanning 200 countries, but it is publicly listed in only two, the United States and India. Colgate has been ranked as India’s #1 Most Trusted Brand across all categories for four consecutive years from 2003 to 2007. It has 51% market share in the toothpaste segment, 48% market share in the toothpowder market, 30% share in the toothbrush market. Presently it is facing competition from no. 2 player HUL. E.g. Pepsodant.
Colgate is the world market leader in oral hygiene products. The toothpaste product line consists of strong brands. This is due to a very successful marketing strategy of the company in the past. But especially in a competitive environment like the personal care industry it is essential for Colgate that it upgrades its organizational as well as marketing strategies in order to meet the customers’ needs and strengthening the leadership. Furthermore now a day a wide range of different toothpaste products is offered to the customers. This in particular means for Colgate that they must differentiate their products from the competitor’s products by being innovative and unique. Moreover the toothpaste market is growing constantly which means that more different needs and expectations of the customers will rise. Therefore Colgate must make use of marketing tools such as market segmentation to better identify their needs in order to supply them with the right products.
The Scope of the study has been the Indian consumer’s preference for Colgate products. This includes consumers of all age group, income groups, and people residing both in rural areas and urban areas. The various data collection been previously done has been used here to analyze the branding strategies of Colgate, which has been done by various magazines and newspaper analyst.
The main objective of this study is to analyze Colgate product life cycle. This is to find out what strategies it has implemented to increase and maintain its market share in India. How has it positioned its brand name in minds of consumers? To study its’...