Procter & Gamble
Procter & Gamble Co., also known as P&G, is an American multinational consumer goods company headquartered in downtown Cincinnati, Ohio, United States, founded by William Procter and James Gamble, both from the United Kingdom. Its products include pet foods, cleaning agents, and personal care products.
William Procter, a candle maker, and James Gamble, a soap maker, both born in the United Kingdom of Great Britain and Ireland, emigrated from England and Ireland respectively. They settled in Cincinnati initially and met when they married sisters, Olivia and Elizabeth Norris. Alexander Norris, their father-in-law, called a meeting in which he persuaded his new sons-in-law to become business partners. On October 31, 1837, as a result of the suggestion, Procter & Gamble was created.
A.G. Lafley, the company's chairman, president and CEO said the future P&G would be "a much simpler, much less complex company of leading brands that's easier to manage and operate."
P&G remains a highly selective employer as less than 1% of all applicants are hired annually.
The 4 P's of the Marketing Mix
Product – The products or services offered to your customer: Their physical attributes what they do, how they differ from your competitors and what benefits they provide. Price – How you price your product or service so that your price remains competitive but allows you to make a good profit. Place – Where your business sells its products or services and how it gets those products or services to your customers. Promotion – The methods used to communicate the features and benefits of your products or services to your target costumers
4 P's of the Marketing Mix with reference to P&G
P&G Manufacture’s products in following categories.
Beauty and Grooming Brands
Products in this category include Anna Sui, Fekkal, Naomi Campbell, Safeguard, Fusion, Natural instinct, Nice and Easy Gillette, Olay, Puma , Pert, Zest, Cover girl, Dunhill fragrances, Herbal essences etc ( Dyer, Frederick & Rowena ,2004).
Health and Well Being Brands
Products in this brands category include Align, Always, Scope, Oral-B, Crest, Pur, and Vicks etc.
Household care Brands
Brands in this category are Ace, Charmin, Ariel Downy, Gain, Tide, Lenor, Tempo, Fairy and many more. All these products are produced with greater variety in between them . For Instance, Safeguard which is soap has soaps of difference varieties like safeguard white and safeguard pink,P&G manufactured products are popular for their excellent packaging and design, features and strong brand name.
In 1990’s era, P&G incorporated value pricing strategy. The company adopted this strategy by cutting by cutting its coupon ,production and logistical cost by effectively increasing efficiency and it increased its advertising by 20%
Within the period of six years this strategy resulted in higher brand loyalty and stronger brand image
The strategy of P&G was quite opposite to that of competitors and marketing practices on that time but resulted in greater success. Now days P&G has the most effective pricing of its brands and customer loyalty is as enough that they are willing to pay extra for company’s brands.
P&G gives discount offers on its different products time to time but not frequently as it experienced in 1990s that coupon and discount only decreases customers brands loyalty Example for this point???
P&G maintains a special website, which gives updates to its costumers regarding the offers and discounts it provides. https://www.pgpro.com/offers/
Procter & Gamble Co. is waging one of the most aggressive market-share wars in years, cutting prices, accelerating product launches and spending more on advertising in an effort to win over shoppers slowly reawakening from their recession-induced coma.
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