Procter & Gamble P&G LOGO. (2018)
The Procter & Gamble Co. (P&G) specializes in a wide variety of personal care, hygienic products and also cleaning agents. The company was founded by a candle marker known as William Procter and a soap marker named as James Gamble. In 1837, the two men formed the company known as Procter & Gamble and are headquartered in downtown Cincinnati, Ohio.
P&G was a soap and candle company but today its the world largest branded consumer packaged goods. The company offers products that can meet the needs of all age groups. It also operates through the different market segments following:
Fabric Care/ Home Care
Baby Care/Family Care
P&G Brand Image
Their fabric and home segment include laundry detergents, fabric enhancers, dish care, surface care products under the Gain, Tide, Febreeze brands, Downy, Ariel, and other brands. While in their baby and family care segments sells baby wipes, diapers, paper towels, tissues, toilet papers under the brands Bounty, Charmin, and Pampers. The healthcare segment offers personal health and oral care products under the brands Always, Crest, and Oral-B. In the beauty and hair care segment supplies the skin and personal care products, cosmetics, deodorant, personal cleansing, hair care, and color products under the Head & Shoulders, Olay, Pantene, and Wella brands. The feminine and grooming segment has shave care products, electronic hair removal devices, pads, tampons under the brands Braun, Fusion, Gillette, Tampax, Always and other brands.
Among all the companies I have chosen Procter and Gamble as the company I would like to focus on for the final project. I chose P&G because each product from the different brands plays a major role in my everyday life. Since I was a baby, I have seen my family being loyal customers to the company’s numerous brands.
The product that I want to propose is a new line of face cleanser that would be called Multi-Naturale. It is made from all natural ingredients as well as organic and chemical free ingredients. The Multi-Naturale will be the new addition to the company’s skin care segment. These face cleansers will be useful for all skin types like normal, dry, oily, sensitive, and combination. The benefits of Multi-Naturale will be used to remove makeup, oil, dirt, pores and also prevent skin conditions such as acne or pimples.
Google Clipart Images
As of the market research for the new product line, I have developed some specific research objectives that need to be addressed such as:
- Is there a demand for a new facial cleanser?
- Who would be the target demographic? (age, gender, income, lifestyle)
- What is the best price for the product?
- How should my product look, feel, smell etc?
- What should the texture of the product be?
- Are other businesses offering similar products?
To answer these questions, I would utilize primary research to gather information for the specific questions. To gather information for the new potential customers I would use questionaries, surveys, interviews with individuals or small groups. For example, I would use market surveys via social media platforms to find out what the age demographic would be. I also would have focus groups to collect customers feedback on the new product line before the decision to take the concept into development.
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Procter & Gamble P&G LOGO. (n.d.). Retrieved September 9, 2018, from https://jewishbusinessnews.com/2013/10/16/procter-gamble-pays-no-israeli-tax-on-nis-100-million-27-million-profits/images-34/
P&G’s Risky Brand Strategy. (2014, December 11). Retrieved September 9, 2018, from http://timcalkins.com/brands-in-the-news/pgs-risky-brand-strategy/
S.r.o., T. (n.d.). Procter & Gamble Headquarters in Cincinnati, USA. Retrieved September 9, 2018, from https://travel.sygic.com/en/poi/procter-gamble-headquarters-poi:26396
(n.d.). Retrieved September 9, 2018, from http://cincinnatitaxi.info/clip-art-of-washing-face/clip-art-of-washing-face-wash-your-face-hand-painting-character-woman-image-and-washing-face-clipart-black-and-white/