A marketing analysis of Procter & Gamble - Research Paper Example

Download file to see previous pages .. 6. Brand Management at P&G………………………………………………………... 7. Competition………………………………………………………………………… 8. Current Market Share………………………………………………………………. 9. Individual Product Branding……………………………………………………….. 10. Extending the Product Life Cycle of Existing Products………………………….. 11. Summary/Conclusions…………………………………………………………….. 12. Recommendations…………………………………………………………………. 13. Personal Learning through the Study……………………………………………… Works Cited Appendices A marketing analysis of Procter & Gamble 1. Purpose/Objective of Study The purpose of the research study is to examine the marketing prowess and strategies of the multi-national company Procter & Gamble (P&G), a business reporting $10.75 billion in net income in 2012. How Procter & Gamble is able to accomplish such significant revenues is likely attributable to not only the relevancy and sustainability of its products, but to its marketing prowess to gain consumer attention in multiple international and domestic markets. The objective of the study is to determine what aspects linked to marketing theory and practices contribute successfully to P&G’s capabilities to sustain its business longevity. 2. Executive Overview Research has identified that P&G is considerably competent in understanding how to market its products successfully to consumer segments with profit potential. Through a blend of psychographic segmentation and lifestyle-centric targeting and using quality-centric positioning tactics, the business is able to create a successful brand management strategy. Research has indicated that Procter & Gamble not only understands consumer behavior, but is able to translate this important knowledge successfully in its diverse portfolio of brands. Based on the findings, it is recommended that Procter & Gamble conduct further market research to gain a new perspective on the social condition for the contemporary buyer segments. 3. History and background of P&G Headquartered in Cincinnati, Ohio, Procter & Gamble was founded in 1837 by William Procter and James Gamble, a candle-making expert and soap producer in early America. By the time of the Civil War, P&G sales had topped $1 million. In today’s economy, adjusting for inflation between 1865 and 2012, this would be equivalent to $14.8 million (Friedman 1). During the Civil War, P&G was contracted to supply the Northern Army with much-needed candles and soap supplies, which provided P&G with much more visibility across the country. By 1911, Procter & Gamble could no longer sustain the high national demand for its products produced in Ohio, requiring development of new manufacturing and logistics centers across the country. Shortly thereafter, the business began producing Crisco which was a revolutionary food shortening product made from vegetable oil rather than the traditional method of using fats extracted from slaughtered animals. While P&G still continued to focus on household soap products, Procter & Gamble diversified into foods production that drove much of its strategic focus through the 1970s. Procter & Gamble also began sponsoring radio programs with the advent of the consumer radio network, which coined the phrase ...Download file to see next pagesRead More