For the final project, I chose the company of Proctor & Gamble. This is a company whose products I use on a daily basis and I am impressed on how they are creating new products that cater to a wide market. Procter and Gamble is company that is constantly creating new and innovative products that serve individuals and families worldwide. As a consumer I buy these products and see them on TV, in magazines, on social media, etc. and not only are their products trustworthy and reliable, the company as a whole is one I support due to it’s efforts to always give back to its communities.
P&G’s has a multitude of products that range from household cleaners to feminine products. Some familiar products P&G have are well known ones such as Tide, Pampers, Puffs tissue, Tampax, etc. What I’ve observed is that there is not a brand that has an organic or vegan laundry and cleaning detergent. They have some brands, such as Tide, that offer products that have less chemicals in them, however I have yet to see anything that is an all natural type of product. In this day in age, especially in these times where the world is becoming more health conscious and encourage the use of more natural products, more companies are catering to that market, and I believe P&G should do the same.
New Product Proposal
I propose that P&G launch a product line of all natural vegan laundry detergents that only consist of natural ingredients and no harsh chemicals. There are many competing detergent lines that are gravitating more and more toward natural ingredients. By offering a line of laundry detergents and cleaners, it opens up a new market of consumers to P&G that they may not have been targeting in the past. Consumers have so many options, and many are looking for safer, less harsh options for themselves and their families.
In order to gather the proper data to launch this new product line the following needs to be established:
- What types of natural cleaning products are acceptable to use
- Create a survey to narrow down the market of consumers who prefer natural ingredients in their cleaning products
- Determine what competitors use in their natural products as a baseline of what the new products could potentially be
- Involve the consumer base in the research on social media and email, asking for input on if this type of product line would be something they would potentially buy
Secondary research would be to determine what other product lines are out there that we would be competing with. Competition is a good thing, but it is important to know what prices other products are being sold at and what stores carrier those items as well. Focusing on larger chains like Walmart, Target, and even online retailers such as Amazon. Determining the other products and brands out there that already are targeting the specific market of consumers we are attempting to attract is important to the marketing research process.