Free Procter and Gamble Company Essay Sample
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Procter and Gamble Company is a fortune multinational company that manufactures a wide range of consumer goods. It is most credited with many business innovations one of them being brand management. It has a coalition of many companies and Non-governmental organizations. These organizations advocates for larger Internal Affairs budget, which funds the American diplomats and other developmental efforts.
What marketing situations the company faces
Procter and Gamble Company find problems in understanding the customers' needs as well as the cultural norms that are found in every country. These cultural norms are unique to every country. For instance, a country like China have this values endorsed in their systems and it is difficult to market United States products in a Chinese country as people will not use it. A multinational company such as Procter and Gamble Company need to understand the needs of the people in a market. The Chinese are hard to get satisfaction in a product as they like experimenting or potential solutions to the problem. The company needs to carry out customer observation and understand all the underlying insights. They are fighting to recognize the importance and power of customer experience, which is necessary to drive financial results and innovations, which they have not fully embraced it. This is because becoming a customer experience is not easy and it is more than embracing the design power or building empathy among the customers.
The company has aimed to restructure marketing strategies that have aimed at boosting the company's growth in terms of the net sales and profits. It has improved the speed and the innovation expedition management and improves on the decision making which are necessary for the company's global marketing activities. It has also aimed at fixing a strategic formula that is necessary, for the formulation and profit oriented responsibilities on the products market and regions.
Key main issues 2-3 considerations the company must deal with and why?
These considerations include the standardization of the work processes. The company needs to improve the all the work processes that are not efficient in product development, the supply chain management and the marketing units of the institution. This is because the company will be able to undertake some information technology and other collaborative technologies to ensure that there is a floor of information through out the company's chain from production to supply of products to the final products. The company also has to deal with the corporate culture. The organization needs to change the culture of the company to that of modern, quick moving and technologically developed company.
What opinions do the company has and what are the pros and cons of each option.
The company has the objective of changing the organization structure along the geographical centers that are located all over the world. This will be accomplished, as the exercise will boost the growth of the company as well as the speed of innovation and management. The problem with restructuring is that the old employees might have difficult in adapting to the new system or they might take time to catch up. The company also aims at standardization of all the work processes as well as working on the corporate culture. This is crucial in improving the coordination between the several units of the company. The problem is that changing the culture of the company might lose its identity and the original objectives of the company.
According me the necessary recommendations with rationale supported with case facts-what should the company do and why?
My recommendation for the Procter and Gamble Company is that it should go on with the efforts of modernizing the company. This will make the company be more dynamic and more in a position to fit into the current business market. For example, the way the company changed the perspective of producing all their products indoor and started outsourcing the products from other manufactures. For instance, when Alley started outsourcing the manufacture of bar soaps form a Canadian manufacturer.
The company should also look keenly on the issue of the consumer market. They should capitalize on the consumer awareness strategy and the creation of new markets of their products. They should be aware of the needs of the consumer and try to satisfy them first. Procter and Gamble should first do experimental trial with their new products to avoid making real substantial losses or exceedingly critical decisions. For example, immediately after the launch on the program to change the working conditions and to modernize the company, which was spearheaded by Jager, he committed few mistakes such as making efforts of acquiring the Warner -Lambert Company and the American Home Products companies, which was not in line with the company's agreement and cautious approaches in the past. These two acquisitions would have cost the company $140 billion.
Statistics of the company
The current net income for the company in the fourth Quarter jumped to $3.02 billion, from $2.27 billion last year as reported by Cincinnati the person who makes the Tide Laundry detergent. The head of the Head and Shoulders shampoo said that the sales rose from $19.3 billion to $ 21.3 billion. Lafleys, the chief executive, announced the increase in the prices on the Pentene hair products, the Gillette shaving cream and the Ivory bar soap to cover for the cost of oil that is used in the plastic packaging. Most of the company's sales are made overseas, and this ensures that the company enjoys the benefits of the foreign currency gains against the dollar. Because of inflation, the companies pricing strategy has continued develop a lot of pressure.