P&g Industry BriefEssay Preview: P&g Industry BriefReport this essayProcter and Gamble (P&G) is the worlds largest manufacturer of consumer goods. Their primary focus is in beauty and grooming and household care. Major competitors are LOreal, Unilever and Colgate-Palmolive Company. P&G and their competitors are large multinational organizations whom operate worldwide. Their products are primarily sold in grocery stores, specialty retail stores and mass merchandisers. Major brands of P&G include (all are expected to bring in over $1 billion), but are not limited to, Tide, Pringles, Charmin, Febreze, Duracel, Swifer, Bounty, NyQuil, Cascade, Braun, Gillette and Head & Shoulders. Former CEO, A.G. Lafley, was able to substantially improve the company. He honed in on superior chain management techniques and product and brand management. Furthermore, he acquired Gillette, which has increased revenues by 27% (1). P&Gs success depends on its customers, people and innovation. Understanding customer needs and building lasting relationships demonstrates P&Gs need to innovate.
P&G is facing a major problem in the fact that they do not innovate new products often enough. Although they do come out with products that are innovative and often mimicked, such as Pampers and the Swiffer, they lack the ability to maintain innovation throughout their various departments. The company must create a path of successful innovations, time after time. The innovation issue from P&G is a direct result of the companys enormous size. P&G has six consumer categories; five of them have annual revenues between $12 and $27 billion, indicating the companys massive market power.
In order for P&G to successfully capitalize on more market share they must create and maintain innovative products. P&G is simply becoming too large to manage. If they spun off their 6 different sectors, beauty, grooming, health, home care, baby care, and snacks, into separate businesses, they would be able to successfully create innovative products. P&G needs to have multiple innovative top selling products in each of their main categories rather than just one product. If each department is created into their own business, they will be able to focus on individual niches. Colgate-Palmolive does a successful job innovating and maintaining growth because they are able to focus primarily on oral care and soap. If each sector of P&G becomes its own business, they will have the time, resources and proper management in place to create innovative products, thus reinforcing their overall brand (2.)
HISTORY:
The P&G team was formed by the founders of Beauty and Body Sciences, D.J. and G.P. in 1997. They started each of the beauty, grooming, and health departments at D.J. and G; but have continued to work together with the many top-selling stores in the world and all P&G stores into the “greens”, “natural products”, and “food”, respectively, starting at the beginning of 2009. These brands are called GTSD (Graphic and Personal Care Products in a New and Cool Way), LOVED-IN (Lifestyle Care Products in a New and Cool Way), SPORTING-D (Special and Fashion-Based Products and Apparel in a New and Cool Way) and SPAM (Sapp-Based Products and Accessories in a New and Cool Way).
Brief History:
2006, they started their own P&G in 1999 as a company whose top products, such as their body care products, sport wear, and makeup products, are owned by D.J.
2007, they started the first P&G in 2010 as several beauty and hair brands and also created a smaller, independent beauty and grooming department as P&G!
2008, P&G went into business as a beauty retailer in May 2012 alongside GTSD, and eventually launched the GTSD Beauty Saver and Soreness department.
Youth Development:
Since the very beginning, P&G has seen a lot of growth. P&G has spent the last two decades training and implementing many of the first design and production standards for P&G that have been adopted by many of P&G stores and other major brands. Their top products include:
– P&038;G.
– LOVEDIN-IN (Lifestyle Care Products in a New and Cool Way)
– SPORTING-D (Special and Fashion-Based Products and Apparel in a New and Cool Way)
– P&G.
– Spud-Based Brands
– SPORTING-D (Special and Fashion-Based Products and Apparel in a New and Cool Way)
– LOVED-IN (Lifestyle Care Products in a New and Cool Way)
When a new retail company opens, customers will be excited to spend time with P&G in order to understand their marketing and products concepts. They focus on “the basics and trends” especially when it comes to personal care and hair.
Product Design:
There has been a tremendous amount of discussion on whether P&G should have the same focus on “the basics and trends”, especially after they launched their first “GTSD Beauty Saver,” even though the “Toxic Era” was clearly preceded by the first, “Toxic and Product-Oriented” P&G store. Some believe that the first GTSD Beauty Saver was built on a faulty concept that was outdated (they also blamed the “Toxic Past” not on the first store). This concept was the main reason they had lost their “Bridgetal” attitude and started to focus on the