Answer To: in this final project, you are to summarize and condense each section that was previously submitted....
Azra S answered on Mar 11 2021
Marketing Plan for Procter & Gamble
Table of Content
a) Executive Summary
b) Situation Analysis
(1) Market Summary
(2) SWOT Analysis (i.e., analysis of strengths, weaknesses, opportunities, and threats)
(3) Competition
(4) Product Offerings
(5) Distribution
c) Marketing Strategy
(1) Objectives
(2) Target Markets
(3) Positioning
(4) Strategies
(5) Marketing Mix
(6) Marketing Research
d) Financials
e) Controls
(1) Implementation
(2) Marketing Organization
Executive Summary
Procter and Gamble is one of the leading global producers of consumer goods. It is active in a range of products and thus faces tough competition from both local as well as global brands. It needs to employ new technology and tap into consumer mentality in order to stay ahead of its competition.
The SWOT analysis of Procter and Gamble shows that its strength lies in its good products and established customer loyalty. Its weaknesses are mainly concentrated in its rigid and slow management. The opportunities of P&G lie within its huge market and improvement in customer purchasing power. Its threats are the tough competition and slow adaptation to rapidly changing markets.
P&G’s competition from local and global brands tries to beat it through introduction of new and innovative products while P&G continues to capitalize on its old brands. In addition, P&G is slow to adapt to the dynamic change in today’s market whereas its competition is quick to make changes. P&G’s product offerings range within mainly four categories. These are household products, homecare and hygiene products, personal care products and baby, feminine and kitchen products. The distribution channel of P&G follows a simple three fold structure and that is manufacture of products, transportation to agents and finally passing goods to retailers and consumers.
In order to gain competitive advantage, P&G must come up with a good marketing strategy. The objectives of the P&G’s marketing strategy are to come up with the appropriate segmentation, targeting and positioning, promotional tactics and market evaluations. P&G’s targeted market is segmented according to a range of criteria and its products mark themselves through differentiation.
The strategies employed by P&G are a mix of, product, pricing, distribution and marketing communication strategy within all product segments. In order to implement this marketing mix, P&G must undertake necessary marketing research regarding marketing skills, marketing products and marketing techniques.
The financial condition of P&G allows it to spend a fair amount on its marketing endeavours. This would allow for improved graphics, design, and use of improved technology. The expected cost for the marketing initiative including plant and equipment is $25500. An analysis of P&G’s strength, weakness, opportunities and threats show that the current position and market competition of P&G is very high. An estimated budget amounts to the total establishment cost of $90800.
Controls practiced by P&G include control of efficiency, control of annual plan, control of profitability and strategic control. P&G controls assess the extent to which its marketing strategy has worked and what needs to be done to fulfil the unaccomplished marketing goals.
The implementation phase of the marketing strategy includes designing, execution and scheduling of the plan. P&G needs to address all implementing questions through assessment and proper follow-up.
Marketing Organization of Procter and Gamble focuses on the type of products and the area its dealing in. All departments are required to take proper initiatives to implement proper marketing organisation.
Summary of the Marketing Plan
Situation Analysis
P&G faces tough competition even though it has been in this field of consumer goods for many years. The competition is from both local brands as well as other global enterprises. P&G...