Identify 3 relevant metrics Provide the name and description of each metric Iden
ID: 362319 • Letter: I
Question
Identify 3 relevant metrics Provide the name and description of each metric Identify data require ( external or internal )Marketing Excellence Long-term outlook: P&G; takes the time to analyze each opportunity carefully before acting. Once committed, the >>Procter & Gamble -Week o company develops the best product possible and exe cutes it with the determination to make it a success. For Procter & Gamble (P&G;) began in 1837 when brothers example, it struggled with Pringles potato chips for almost in-law William Procter and James Gamble formed a small a decade before achieving market success. Recently candle and soap company. Over the next 150 years, P&G; P&G; has increased its presence in developing markets by innovated and launched scores of revolutionary products focusing on affordability, brand awareness, and distribu with superior quality and value, including Ivory soap in tion through e-commerce and high-frequency stores 1882, Tide laundry detergent in 1946, Crest toothpaste with fluoride in 1955, and Pampers disposable diapers tor. The Product innovation: P&G; is an active product innova company employs 1,000 science PhDs, more in 1961. The company also opened the door to new than Harvard, Berkeley, and MIT combined, and applies , for roughly 3,800 patents each year. Part of its innovia including Richardson-Vicks (makers of personal_care tion process is to develop brands that offer new consumer benefits. Recent innovations that created entirely new cat egories include Febreze, an odor-eliminating fabric spray in the dryer; and Swiffer, a cleaning system that effectively Today, Procter & Gamble is one of the most skilful removes dust, dirt, and hair from floors. Larry Huston, for officer at P&G;, stated, "P&G; is largely a uct categories by acquiring a number of companies products like Pantene, Olay, and Vicks), Norwich Eaton Pepto-Blismol), Gillette, Noxell (makers of Noxzema). Shulton's Old Spice, Max Dryel, a product that helps "dry-clean" clothes Factor, and the lams pet food company marketers of consumer-packaged goods in the worldmer innovation and holds one of the most powerful portfolios of trusted branded science company." brands. The company employs 121,000 people in about 80 countries worldwide, has 25 billion-dollar alobal Quality strategy: P&G; designs products of above- brands, spends more than $2 billon annually on R&D;, average quality and continuously improves and reformu lates them. When the company says "new and improved and has total worldwide sales in excess of $84 billion a of different capabilities and philosophies. These include: both the end consumers and its trade partners-through It spends more than $100 year. Its sustained market leadership rests on a number it means it. Recent examples include Tide Pods, a com pact laundry detergent tablet; Pampers Rash Guard, a diaper that treats and prevents diaper rash; and improved o-in-one shampoo and conditioner products Pantene, Pl Vidal Sassoon, and Pert Plus continuous marketing research and intelligence gathering. Brand extension strategy: P&G; produces its brands in million annually on more than several sizes and forms. This strategy gains more shef formal consumer research projects and generates space and prevents competitors from moving in to sat isfy unmet market needs. P&G; also uses its strong brand more than 3 million consumer contacts via its e-mail and phone center. The ers and researchers to be out i consumers and retailers in their home environment company also encourages its market- names to launch new products with instant recognition in the field, interacting with and much less advertising outlay . The Mr. Clean brand has been extended from household cleaner to bathroom
Explanation / Answer
Answer 1)
Procter & Gamble brands & Acquisition
Procter & Gamble focused more on acquisition and fine tuning the brands under it in order to maintain its market share and a reputation as a household name. After witnessing the rise of The Dollar Shave club, a subscription service that ships razors directly to it customer's homes or by mail order with high quality or premium razors and low prices, Procter & Gamble realised the need to evolve to changing consumer trends around the world. Products were no longer merely a utility but something that encompassed an experience. Procter & Gamble acquired The Art of Shaving in 2009 , a service similar to the dollar shave club but one that focused more on quality and a premium line up of shaving products.
Challenges with MultiBrand and Acquisition Strategy
Cannot Effectively leverage Economies of Scale
The first problem with this is that its difficult to leverage economies of scale using this strategy. So as a stand alone brand may not benefit from economies of scale but if it started streamlining its manufacturing units and then distributing all its products to their respective brands, it could greatly leverage economies of scale.
A lack of ambiguity in Brand Image
The second challenge lies in establishing the right brand identity. The biggest advantage of Accurately Positioning your solution's brand image would be that it would have a more appropriate product market fit. Product market fit analyses consumer demand and preferences and weather or not a product or a service fits into the market and if consumer preferences will lean for or away from it. The problem is that companies place excessive importance innovation for the sake of innovation. without analysing the value curves of their businesses offerings. Utility and consumers preference values is as important as innovation This is also known as value innovation.
Answer 2)
P&G Should Adapt Social and E Commerce Channels
Emergence of Social Media Commerce and E Commerce
There have been both recent as well as expected changes in consumer behaviour as a customer and their traits, reference groups and core values . They've completely transitioned to e commerce over brick and mortar stores to meet their demand for high quality, variety, accessibility. ease and price for shopping. Competitive pricing and excessive discounts have made their choices and preferences of products and services more fluid they are more they are more consumers likely to spend on experiences over products and merchandise. There has also been a significant shift in consumer purchase preferences. They prefer brands endorsed by major everyday real life influencers through social media platforms like Instagram over celebrity influencers.
Its component of any and all businesses business to be where their customers are. While this might seem more of a good fit for product, media and fmcg companies. Because when today's consumer think about a business or a service, they don't o to yellow pages or the better business bureau or any other business directory but they go to google, facebook , instagram and search for businesses. Its also essential for hiring practices.
Answer 3)
Disruption from Competitors is the biggest Risk that P&G faces
Procter & Gamble focused more on acquisition and fine tuning the brands under it in order to maintain its market share and a reputation as a household name. After witnessing the rise of The Dollar Shave club, a subscription service that ships razors directly to it customer's homes or by mail order with high quality or premium razors and low prices, Procter & Gamble realised the need to evolve to changing consumer trends around the world. Products were no longer merely a utility but something that encompassed an experience. Procter & Gamble acquired The Art of Shaving in 2009 , a service similar to the dollar shave club but one that focused more on quality and a premium line up of shaving products.
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