14 Aug MARKETING PRINCIPLESMarketing PrinciplesName:Course:Professor:Date:12EXECUTIVE S

MARKETING PRINCIPLESMarketing PrinciplesName:Course:Professor:Date:12EXECUTIVE SUMMARYPROCTOR & GAMBLE PTY LIMITED AUSTRALIAProcter & Gamble Pty limited Australia is an American multinational company of consumergoods. The company’s range of products is inclusive of cleaning agents, pet foods & personalcare range of products. The company has employed over 200 employees in Macquarie Park.INTRODUCTIONFor many years, the company has been established by consumer researchers and scientist, theformer establishing that the public needs & wants, and the latter enhancing upon the old productsor discovering new ones so as to match these desires and needs. In 3 billion times daily the P&Gproducts are touching the lives of people worldwide[ CITATION KDo10 l 1033 ]. The companyboast of one of the strongest range of trusted, leadership brands, quality, including Tide,Pampers, Pantene, Always, Whisper, Bounty, Mach3, Gain Dawn, Pringles, Folgers amongothers. The company community comprise of 200 staff working in Macquarie Park.Shareholders, Management & the BoardThe company has corporate governance which is the interaction between the shareholders,management and Board of Directors to assist in making sure all investors both creditors andshareholders are safeguarded against the managers acting exclusively in their own interest. ThisCorporate governance comprises of policies, laws, procedures & most crucial practices thatmakes sure the Company’s’ assets well-being[ CITATION KDo11 l 1033 ]. This CorporateGovernance is at its best level when the management acts like they are long-term Company’s3investors. The company shares are traded in major stock markets including New York SecuritiesExchange.THE CHOSEN MARKETThe Company is introducing new range of enhanced Joy soap in the market. The company has tolook into analyze the market carefully so that the new product penetrates into the market. Thecompany has to bear in mind his main competitors which include Unilever, Johnson and JohnsonCompany and Kimberly-Clark Corporation among others. The competition is very stiff amongthese companies as they occupy a considerable percentage of the market.The company is intending to make higher volume of sales which will consequently enable it toexpand and grow. To achieve this, the company will use several sales strategies. The companywill use huge sum of money in the advertising [ CITATION Man12 l 1033 ]. This will be crucialin creating awareness of the new product and giving the consumer the chance to experience theuniqueness of the product. The other strategy will be that of Pricing. The competitor’s profitmargins & pricing strategies will be put in mind before deciding the price of the new product.The company will also make sure that the product is available in all major market so asconsumers in all corners of the world can have easy access of the product. By expanding itsmarket, this will also ensure the expansion of consumer base which will assist the company togrow. The other major strategy that the company will use to ensure high sales volume will be thedistribution channel. The company will use three distribution channels in reaching the productswhich will include, extensive, intensive and specialty distribution channels. These particularchannels of distribution will be vital to the company as they will make sure the product reachesto all its consumers worldwide easily.4RATIONALE FOR INTRODUCING NEW ENHANCED JOY SOAPThe company will be positioning itself as one that has concern for value for money brand. Itstrategy for appeal will be “where your dream turns to reality” with improving & touching life.The company will take advantage its competitive position in the market.StrengthsThe strengths and opportunities available in the market will be significant in introduction of thenew product. The company will make use of its strengths and opportunities in comparison to itscompetitors. The company will make use of its strong pecuniary position & large economies ofscale to introduce the new enhanced Joy soap in the market. The company possesses a wellknown image & brand and this will help in attracting & winning the trust and confidence of theconsumers[ CITATION Ann13 l 1033 ]. The company’s employees are committed staff; this willbe advantageous in bringing the new product to the market. The company’s affordable & qualityprices, relatively huge markets, strong sale strategy & huge captive consumers in the same groupwill be also be of great benefit in ensuring the product enters & gets accepted in the market.OpportunitiesThe company will be utilizing various opportunities that are available in the market inintroducing its new product in the market. The first opportunity the Company will utilize will bethe ability of the company’s product to achieve market share at their own expense. Thecompany’s ability to expand over the distribution area will be another opportunity the companywill utilize in introducing and penetrating the new product in the market.5TARGET CUSTOMERS DESCRIPTIONThe company’s target market is expanded internationally, regardless of the market volume inwhich the product is presented. As the company bears international expansion so is its marketsegment which is targeted. The target consumers will include standard & quality consciousconsumer group that basically starts from middle, middle upper & elite class of consumers. Thisgroup of people will be men & women from all over the world where this particular new productwill have reached the market. Various products are introduced by the company purposivelyconsidering the demands of targeted market.MARKETING MIX STRATEGYThe company will use a marketing mix strategy that will involve; product, price, promotion andplace.ProductThe first strategy will involve product. Here the strategy will be to change the product.Change product range will assist the company expand its line of product so as cover a broadermarket, establish separate products for various markets and obtain new products that supplementthe existing ones via the acquisition of new firms[ CITATION Jam14 l 1033 ]. The other productstrategy will be to add, drop & modify the product, launch an already modified product, droppingof some marginal products and also advance new products to supplant old products.PricingThe other strategy will involve pricing. Here the company will change the conditions or terms forthe product. The company will use different price list and prices for different markets. Anotherstrategy in pricing will be the skimming policy. This will make the company set the price of the6new product at level 30 percent about past product, sell on the fresh innovative design featuresand be ready to minimize the price as volume should the competitors enter the market.PlaceThe other market mixing strategy will be that of place. Here the strategy will involve the changeof distribution channel.The company will be able set its own distribution channel direct to stores, increase the numberwarehouses for the product & change the area of distribution.PromotionIn promotion marketing mix strategy the strategy here will be to change selling force. This willhelp in strengthening the organizations sales force, restructure sale force for specific area, andintroduce additional sales personnel, increase the effort of sales to enhance sales to majorconsumers and maximize sales efforts for the most cost-effective products.CONCLUSIONThe company’s strategies are ideally very appropriate. The P&G need to invest more on theadvertising so as retain its consumers & pay more focus to its issues & should analyze very well.The P&G using should make use of repositioning tool quite well so as to attract the customers &also as part of the preparation against its competitors such as Johnson & Johnson and UnileverCompany [ CITATION SRa14 l 1033 ]7ReferencesDeLuccia, J. J. (2014). IT compliance and controls : best practices for… by James J DeLuccia .Sydney: John Wiley & Sons.Guimard, A. (2013). Investor relations : principles and international best practices of financialcommunications. London: Basingstoke; : Palgrave Macmillan.Hoffman, K. D. (2010). Marketing principles and best practices. Ohio: Mason, Ohio :Thomson/South-Western.Hoffman, K. D. (2011). Marketing principles and best practices. New York: Mason (Ohio) :Thomson,.Krafft, M. (2012). International direct marketing : principles, best practices, marketing facts.Berlin: Springer.Vallabhaneni, S. R., & Management., A. o. (2014). Corporate management, governance, andethics best practices. London: Wiley.

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