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Procter and Gamble marketing

Uploaded: 2 weeks ago
Contributor: mgearheart
Category: Business
Type: Lecture Notes
Rating: N/A
Filename:   Procter and Gamble marketing.docx (30.62 kB)
Page Count: 6
Credit Cost: 1
Views: 4
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Transcript
Procter and Gamble is a company that sells many different products. Having a large selection of products means that they need to have a skillful management to run all of these various departments. The most important aspects that they need to have is good core values, a mission statement, a positive company culture, and a good business structure. Procter and Gamble were founded in 1837 by William Proctor and James Gamble. Their company started by making and selling mass quantities of soap and candles. After the invention of the light bulb in 1850, candle sales decreased. In 1859 something memorable happened, Procter and Gamble had reached 1 million dollars in gross revenue. A couple of years later the United States Government started to bulk order soap from Procter and gamble As their business flourished from this, they began to investigate new ways to make soap. Their investigation eventually led to the production of hair, laundry, and dishwasher soaps. As their business thrived, the partnership did not. In 1907 William A. Procter was named the first president. He opened a new plant in Cincinnati to study and improve the soap making process. (United States History). In 1911 Procter and Gamble had decided to grow their company into something more and introduced Crisco as a new product. In 1943 the first president had passed away, and Richard R. Deupree had taken the president title. Richard noticed the company’s great potential and grew to make hair and household cleaning products. Deupree grew the company not just throughout the United States but expanded the company to the Far East with help from the Philippine Manufacturing Company. (United States History). In the 1970’s Procter and Gamble had thought that they had met they are full protentional in household products. Their products ranged from laundry soap to feminine products, Procter and Gamble made an even more significant expansion to cover Japan, China, Europe, and many others. They later made their way into the pharmaceutical business with a drug to treat Paget’s Disease. (United States History). Today Proctor and Gamble have exploded throughout the world over the past two centuries with their over three hundred products. Their company is so versatile to anyone’s needs. They make products related to brushing your teeth, hair washing, or prescription drug. Therefore, many people use their products and don’t even know it. (United States History). Procter and Gamble started in 1887 a non-profit-sharing program by William Cooper Procter. He believed that if employees had a cut of the earnings, that the employees would want to try to increase the company’s revenues. In 1903 Procter decided to revise the program and have the profit sharing be awarded in stock to help with economic interests and make the company closer. (Procter & Gamble Company). Four P’s of Marketing: There are four Ps of marketing, they are Price, Promotion, product, and place. All of these have to work interchangeably and pick up the slack where one has slightly failed. When all of these elements work in harmony it give the company a higher chance of success. There are many internal and external factors that affect these, such as a competor changing their price or a companys target market changing. PRICE: Procter and gamble try to make their pricing is different for every product so that they can stay competitive in the market on the retail side. When Procter and Gamble sell their products to businesses, they offer product-bundling. Product- bundling gives Procter and Gamble the ability to allow their business customers to promote specific products. http://panmore.com/procter-gamble-marketing-mix-4ps-analysis Procter and Gamble price their retail product competitive to their competitors similar quality products. If their competitor lowers their cost, it makes Procter and Gamble have to change their rate. https://www.mbaskool.com/marketing-mix/products/17250-procter-and-gamble-pag.html PROMOTATION : Procter and Gamble have been in business for many years. Thus, they have many different product lines and mixes. Each product is unique in its way, which means that promoting each product can be a challenge. I have found that the way that Procter and Gamble promote their products is not focused on the product itself but the vision of the company. The focus a lot on diversity, equality, the love from a mother and child, and how anyone can conquer anything they put his or her mind to. PLACE: Procter and Gamble have many different product mixes and lines. Having so many products means there are many different places they can sell them. Procter and gamble try to run their company with their vision and mission statement which means that they must provide products to customers around the world. Procter and Gamble have three main ways they distribute their products to retailers, authorized distributors, and the Procter and Gamble shop. Retailers are the number one-way customers get their products. Retailers are the easiest way Procter and Gamble reach their target market. Authorized distributors are mainly used as third parties that provide products to large companies that need large quantities of their products for their business. The Procter and Gamble Shop is their online web site where customers can buy their products. http://panmore.com/procter-gamble-marketing-mix-4ps-analysis PRODUCTS: Procter and Gamble sell products from baby, fabric, family, feminine, hair, home, personal health, oral, skin, and personal care, and grooming. With all of these product lines, they have many different brands such as Pampers, Tide, Bounty, Tampax, Head& Shoulders, Febreze, Gillette, Vicks, Crest, and Olay just to name a few. Due to their company being so diverse they can sell their products at many different stores, such as grocery stores, dollar stores, and convenient stores. In conclusion, Procter and gamble have to make an educated marketing decisions to make their company successful. They focus many their efforts in the four P’s of marketing. They have to watch what their competitors do at all times to be sure that they do not fall behind and lose sales to them. All in all, Procter and Gamble have been hugely successful no matter what happens. Brands. (n.d.). Retrieved November 15, 2018, from https://us.pg.com/brands/ (Brands) K. (n.d.). Procter & Gamble (P & G) Marketing Mix. Retrieved November 15, 2018, from https://marketingmixx.com/marketing-basics/marketing-mix/148-procter-gamble-p-g-marketing-mix.html (Marketing Mix) Procter & Gamble : Advertising & marketing profile. (n.d.). Retrieved November 15, 2018, from https://www.adbrands.net/us/procter-and-gamble-us.htm (Advertising & marking profile) Proctor and Gamble. (n.d.). Retrieved October 29, 2018, from https://www.u-s-history.com/pages/h1811.html Thompson, A. (2017, May 25). Procter & Gamble's Marketing Mix (4Ps) Analysis. Retrieved November 15, 2018, from http://panmore.com/procter-gamble-marketing-mix-4ps-analysis (Thompson, 2017) United States History. (n.d.). Retrieved from https://www.u-s-history.com/pages/h1811.html Zigu. (n.d.). Procter and Gamble (P&G) Marketing Mix (4Ps) Strategy. Retrieved November 15, 2018, from https://www.mbaskool.com/marketing-mix/products/17250-procter-and-gamble-pag.html (Zigu)

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