Strategic Marketing Paper On Colgate Palmolive Company

2013 words - 8 pages

Colgate Palmolive Company's toothpastes and brushes strategy product paper Marketing ManagementExecutive Summary:The toothpaste and brush market is changing rapidly due to advanced technologies being used. Consumer preferences, behavior, product evaluation, and a reason in buying Colgate toothpaste brushes factors impact consumers' decision. Great influence from dental professionals for people with concerns about gum diseases, plaque and gingivitis is much accelerating the markets segments growth. For Colgate Palmolive Company to manage toothpaste and brush position as number one leader, it has to take a missionary selling strategy, brand positioning, and communication strategies. Several pricing services are available but, I have designed a strategy of market penetration pricing to enable Colgate to build larger plants geared towards increment in production, a benefit of low price setting, and the end acquisition of more market shares.Introduction:Convenience goods are those consumers purchase frequently, and immediately with a minimum effort .I have selected the toothpaste and toothbrush market segment, because they complement each other in their uses. The selection was primarily based to the fact that, toothpaste and brush they take care of our only fully developed organ the tongue which is needed for sucking at birth, and also used in expressing ourselves to explore the world in which we live. The same author postulated that, Americans spend $2 billion a year on dental products such as tooth paste, mouthwashes, and dental floss. ACNielsen in 2002, informed us that, the $775 million was spent on consumer spending on toothbrushes annually. These are the few reasons why I have decided to go into this market segment for the toothpastes and brushes which are targeting all groups of the population.Company background:Colgate Palmolive Company is the global leader with its worldwide sales reaching $12.3 billion, and net income $1.4 billion respectively in 2006. This company is the world's number producer of toothpastes and brushes. Through, Colgate massive advertising, its total share of the market grew 0.6% point to 14.9%, and the manual toothbrush equally jumped from 2.7 points to 25.3%(Colgate Palmolive Company,4/25/2007). In 1991, Colgate held 43% of the worlds' toothpaste market and 16% of the toothbrush market.Products Segments:Two segments were created in the toothbrush category in 1980's thus the value, and professional priced toothbrushes. In the late 1980's, the super premium brushes were introduced. By 1992, the super-premium brushes with retail prices between $2.29 and $2.89, accounted for 35% of unit volume, and 45% of dollar sales. On the other hand professional brushes accounted for 41%. On the same footing toothpastes was developed and gained much growth up till today. (Colgate Palmolive Company's official website history).Brand Equity and positioning of toothpaste and toothbrushesBranding is essentially to endow products and services...

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