Procter & Gamble Joseph Ryan, Marianna Schroth, Hong Ping Song, Adrianna Santos

Introduction

  • Procter & Gamble Forbes #34
  • Over 170 years of excellence
  • Owns 50 well known brands- Olay, Downy & Tide

S.W.O.T. & Analysis

STRENGTHS:

  • P&G markets over 300 brands in more than 180 different countries
  • Company size- over 125,000 people are employed by P&G globally
  • P&G has strong focus on research and development- the company spent nearly $2 billion on research and development from 2012-2014

Weaknesses:

  • Quality control issue- P&G has an undergoing issue of product recall, reducing customer's loyalty and brand equity
  • Revenue- Walmart is planning to raise supplier fees making an impact on the profitability of P&G

oPPORTUNITIES:

  • Growing personal care and home care markets
  • Strategic initiatives to drive productivity and reduce costs
  • Continue improving technology behind ads to increase effectiveness

tHREATS:

  • Visceral competition in the consumer goods market has resulted in many P&G substitutes for lower prices
  • Strain on Business Relationships - Contracts with retailers, especially Walmart, are under extreme stress
  • The New Consumer – The purchasing habits of the modern consumer has evolved from traditional, predictable, behavior

Change Recommendation

  • Venture into the handheld device application market to design and promote a subscription and purchasing mobile app with scheduling and household tabulation assistant capabilities
  • This will be introduced in the form of a pilot project, with a dedicated team, in a predetermined region, so as to minimize risk and document measurable success on a small scale before implementing the program to the entire company

Rationale

  • P&G has failed to adapt to the 21st century's evolution of the social, cultural, and technological demands
  • P&G's traditional reliance on 3rd party retailers has left room for competitors
  • The company must prioritize adaptability and agility in order to respond to customer needs

Kotter's Change Model

  1. Create a sense of urgency- Actively work to promote understanding
  2. Build a guiding coalition- Establish a team
  3. Form strategic vision and initiatives- Mission & vision statements
  4. Enlist a volunteer army- Utilizing different skills
  5. Enable action by removing barriers- Miscommunication
  6. Generate short term wins- Visible milestones
  7. Sustain acceleration- Consumer feedback
  8. Institute change- Promote leaders

Conclusion

Credits:

Created with images by foolishmastermind - "untitled image" • JeepersMedia - "Tide Laundry Detergent" • mirwav - "OLAY" • Unsplash - "phone cell cell phone" • j3net - "law books" • kerttu - "fall leaves orange"

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