Analysis of the Product Strategy of Procton & Gamble (P&G) Based on Its 2009 Annual Report
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ANALYSIS OF THE PRODUCT STRATEGY OF PROCTON & GAMBLE (P&G) BASED ON ITS 2009 ANNUAL REPORT
FOR MODULE MARKETING MANAGEMENT OF THE MBA (SPECIALISATION FINANCIAL SERVICES) COURSE
TABLE OF CONTENTS Page
1. Abstract 1
2. Chapter 1: Introduction 2
3. Chapter 2: P&G 5
4. Chapter 3: Analysis of Product Strategy of P&G 8
5. Conclusion 14
6. References 15
A successful Product strategy is directly linked to the growth and prosperity of company such as Procter & Gamble (P&G). In this report, I tried to analyse the product strategy of P&G and tries to look…show more content… The purpose of P&G is to ‘provide branded products and services of superior quality and value that improve the lives of the world 's consumers. As a result, consumers will reward us with leadership sales, profit, and value creation, allowing our people, our shareholders, and the communities in which we live and work to prosper.’ (Ref: website, PG.com).
Although Procter and Gamble is based in Cincinnati, Ohio, its founders’ roots trace back to Ireland and England. William Procter and James Gamble came from England and Ireland respectively. Upon the suggestion of their father-in-law, both men formed a business partnership and in 1837, their company was formally named Procter and Gamble. Twenty-two years after its birth, Procter and Gamble’s sales reached $1 million, and 80 people under its employ.
The invention of the light bulb in the late 19th century had a huge impact on the candle-making industry. With the advent of a new source of artificial light, sales dropped and ultimately, Procter and Gamble halted their candle operation in 1920 and shifted their focus to soap manufacturing and distribution.
The enterprise rapidly grew in the 20th century. The company began to venture outside the soap business and explored possibilities in the foods industry. Their first non-soap product since they shut down their candle operation was Crisco, a shortening made of pure vegetable oil instead of animal fats.
Through a series