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Principles of marketing - Essay Example

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Principles of marketing Abstract Procter and Gamble is one of major players in the packaged household product industry. It has always followed the policy of quality product at reasonable price to attract the customers. P&G has an amazing ability to commercialize its products faster than any of its competitors…
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Principles of marketing

Download file to see previous pages... P&G has always tried to position their product differently according to the changing need and preferences of the people. In the detergent market, marketers are launching their detergents in small easy to handle containers at low price. In this way marketers wanted to prove that they were charging less for more. P&G reduced their commercialization and increase their perceived value by introducing Tide with bleach, cold water Tide, Tide with bounce, etc. So by this it could be clearly assumed that P&G has an excellent marketing team to plan out such marketing strategies, so that it always remains the market leader. Table of Contents PRINCIPLES OF MARKETING 14 1 4 Mission, Vision and Objectives of Procter & Gamble 5 Mission and Vision 5 Objectives 5 Market Overview 6 Competitors 6 Customer Expectations 7 Consumer Behavior 7 Cultural Factors 7 Social Factors 8 Psychological Factors 8 Personal Factors 8 SWOT Analysis 9 Strength 9 Weakness 9 Opportunity 9 Threat 9 Marketing Mix 10 Product 10 Price 10 Place 10 Promotion 11 Conclusion 11 References 13 Mission, Vision and Objectives of Procter & Gamble Mission and Vision Procter & Gamble is one of the largest packaged product companies in the world. This fact has always motivated the company for their purpose inspired growth. The company's mission is to improve the lives of the customers round the world. The long term visions of Procter & Gamble are: The company wants to use 100 percent renewable and recycled material for the products and packaging. The plants of the company should be powered by 100 percent renewable energy. They want zero manufacturing waste to go to landfills. The company wants to design the products for maximum customer delight and conserving the natural resource (P&G, 2012). Objectives The company wants to win the customers, and help its leading brands to grow and expand into different countries. It wanted to focus mainly on the core business and build is strong global market leaders. The company also has the objective maintaining growth and sustainability in different parts of the world. Market Overview In this study we would see the different aspects of the marketing principles and strategies with regards to a very popular brand of Procter & Gamble known as Tide. It is one of the most famous detergent brands of Procter & Gamble. It is one of the flagship brands of P & G. The basic policy of the company is to boost the sales and stimulate the customers to buy the products. This popular detergent was first launched in the market in 1946. The logo of Tide that we see today was slightly modified in 1996. P & G enjoys a well-established recognition in the developed countries of the world like United States, and Europe. The CEO of the company Bob McDonald announced in 2010 that they wanted to expand their markets and penetrate more into Chinese and Indian markets. Their aim is to reach the target of 1 billion customer base in these parts of the world. The closest competitor of P & G is Unilever and Henkel. In Figure 1 we can see that Tide is the market leader in the US detergent market among all the other brands and products of other companies. In fact, the P & G has the greatest market share among all the companies producing detergent. P & G has all its detergent brands in the top list of the consumers. Tide captures about 45 percent of the market alone. The other detergent brands capture 13 percent of the ma ...Download file to see next pagesRead More
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