Procter and Gamble (P&G) have been in operation since 1837. They hit the million dollar sales mark in 1858 and soon after they would be supplying Union soldiers in the Civil War with soap and candles. Undoubtedly the Industrial Revolution accelerated P&G’s success forward like no other. However, P&G’s ability to continuously position themselves as an innovative leading company in the consumer goods industry is attributed to their advertising efforts, revolutionary products (like disposable diapers) and vigorous marketing and business strategies.
In an effort to continue with their competitive edge, P&G understands that they need to show their target audience that they’re aware and addressing world problems, like environmental and social issues. They need to show their consumers that their purchase can help the planet, too. My market research for a potential new product aligns with P&G’s current mission, values and future goals. P&G shares on their website that “environmental sustainability is embedded in how we do business” and that they “have a responsibility to make the world better” (Procter and Gamble, 2020). This product, an all-natural and eco-friendly laundry detergent, is a part of P&G’s bigger sustainable efforts. It is a way to show consumers that they are dedicated and stand by their mission to make the world better.
Industry trends show that the laundry detergent market is expended to grow within the next few years. This rise stems from recent events like the COVID-19 pandemic and the increased accessibility in cleaning products and utilities. That in conjunction with the rise in concern about climate change and sustainability, places a eco-friendly laundry detergent on a pedastool.
This laundry detergent will address a variety of concerns: cleanliness, the planet, and the harms of toxic cleaning ingredients. There will be a strong effort in making sure that P&G’s marketing efforts are as sustainable as possible, as well. For example, P&G seeks to limit print advertising and use social media and digital marketing, promoting it as the “sustainable way to promote this laundry detergent.” This will be a great way to position P&G as a leader in industry trends.
There is great respect for consumers that seek authenticity and transparency from brands. P&G strives to provide that in every way possible, and understands that it’s consumers right to seek it. There have been ethical and legal matters in P&G’s past that happened that no longer align with the mission and values P&G hold today. With that being said, P&G understands these things can be easily found on the internet during a consumer’s brand and product search and wants to create and encourage open conversation around those things. P&G strives to not only uphold legal, ethical and industry standards, but be a leader in those areas.
Google is a great tool that has removed many limitations that creating a marketing strategy may have once had. The laundry detergent market is rather specific, so of course there isn’t as much industry and trend information as there would be for other things. However, market research has indicated that now would be no better time to jump on the sustainable cleaning products bandwagon given the increased demand. Talk about perfect timing!
References:
Procter & Gamble. (2020a, March 23). Environmental Sustainability. https://us.pg.com/environmental-sustainability/
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