Introduction
Proctor & Gamble is a multinational company with headquarters located in Cincinnati, United States. The company’s products range from cleaning agents, including detergents and washing powder, to personal care products. The company has been carrying out successful business strategies that allow it to sustain a competitive advantage on the international market.
Despite its consumer-oriented approach, the chairman of the P&G’s John Pepper faces problems in meeting the needs and requirements of the company’s customers (Hooley et al., 2008). Using the World Wide Web and organizing camera crews all over the world correspond to the public-oriented policy.
Nevertheless, the anthropologic rigor does not contribute to the pricing policy in the company. Specific attention should also be given to technologic innovation, because some of the products are in low demand among consumers due to its old-fashioned design.
In order to solve the problem, the company managerial staff should reconsider the problem and provide a new marketing plan that would fill in the gaps and provide a new approach to treating the consumer behavior. In particular, the P & G should first of all consider the information exchange systems and advance the information technologies to receive useful data about consumer demands (Hooley et al., 2008).
In addition, the company should also integrate innovation into the existing brands that are less popular among buyers to increase profits and receive a competitive advantage over other related products.
Pertinent use of incoming data is a priority for rethinking the company’s ideology (Hooley et al., 2008). Finally, the company should also work out efficient coping mechanisms that will allow the producers to stand the criticism and react to the consumer needs efficiently.
Success Metrics and Implementation Strategies
In order to ensure the implementation of efficient pricing policy, the company should develop activities that will contribute to the successful program implementation. The success metrics, therefore, should be confined to the following activities:
- Development and submission of ideas;
- Analysis of feedback from customers and employees;
- Conducting surveys within the employed environment;
- Estimating time scheduling by means of step-by-step procedures;
- Defining the number of employees necessary for a specific stage of accomplishment;
- Creating contingency plan
Because the primary purpose of the new marketing plan lies in redirecting the customer-centric approach to integrating innovation and enhancing brand loyalty, the implemented ideas should be related to additional metrics that focus on effectiveness of the plan. For instance, measuring the benefits of introduced concept could be measured by means of opinion-based (surveys) and statistical data (qualitative) (Hooley et al., 2008).
The potential benefits of the above-presented evaluations are associated with financial saving, enhanced ability to achieve the mission (increased safety and public health policies), and enriched organizational culture. Additionally, the consumers will likely to receive high quality services due to an efficiently organized work.
The company should realize that the success of the business strategy depends on the degree to which customer satisfies his/her needs and purposes while using proposed products and services. In this respect, the evaluation of the contextual environment is indispensible for producers to develop new approaches to advertising and distributing innovated products.
Following social corporate responsibility and ethics is another approach to achieving profits and expanding the market segment. Therefore, the consumer demand rates, brand loyalty, and customer values should also be included into success value to rearrange the marketing plan (Hooley et al., 2008).
Focusing solely on revenue growth will not contribute to the increased profits (Cravens & Piercy, 2009). Because the P & G applies to consumer-based approach, the importance of introducing rich organizational culture and codes of conducts is highly relevant from improving the situation.
The company should reconsider its traditional outlook on the marketing as an ambiguous activity to view it as a marketing process oriented on the performance of individuals. Such a perspective is often implemented to assess the overall metrics, including market share, profitability and revenue growth (Rafineiad, 2007).
However, the analysis of collective work does not often reflect the accurate results of the business activities because it fails to specific individual contributions (Hooley et al., 2008). Therefore, Mr. Pepper should be more concerned with implementing the schemes for analyzing individual behavior and highlighting the strengths and weaknesses of individual employees.
Monitoring and Evaluation Criteria
The primary mission of P & G is to reconsider their mission and values to strike the balance between brand development and consumer participation in defining the demands. In order to assess the efficiency of the implemented strategy, specific attention should be paid to budgeting, schedule, equipment, and staff allocation. In this case, major investment is made into development of new brand image and innovative technology.
The role of the project manager lies providing the scale of evaluating the success. Efficiency will be assessed with the extent to which the project objectives are met. In order to increase revenues, the company should develop firm strategies contributing to brand popularity and respectable image.
Ethics is another condition for meeting the purpose. Finally assessing the impact implies understanding the difference between the problem situation and related practices. The role of the P & G’s manager is to assess the usefulness of the strategy. Hence, it is purposeful to define whether the established approach contributes to the image of company, as well as to the development of new corporate culture.
The monitoring and evaluation scheme will consist of several stages that allow the managers to ensure high quality integration of a new strategy.
In particular, the marketing plan should be followed by implemented strategies that will be monitored and adjusted. Further stages are associated with reflecting/learning procedures that contribute to better monitoring and evaluation. The cycle is also beneficial for making decisions and providing viable solutions.
The basic indicators of monitoring and evaluation criteria will include increased customer awareness of the products specifications at the Proctor & Gamble Company, its improved image, and development of brand loyalty. The level of technological integration is also considered. The evaluation process will include the analysis of the process of achieving achievements, assessment of progress and its influence on target audience.
The managers should also assess the strengths and weaknesses of the introduced strategies. In this respect, the major strength of the company’s approach lies in multifaceted orientation and expansion of new trends in product marketing. Pricing and packaging should be among the priorities to improve the situation and exclude possible ethical misconceptions.
Finally, the evaluation and monitoring should concern the employees’ performance through introducing surveys and testing procedures. The company should also create bonus schemes that would motivate workers and improve their productivity. Such an approach will help the managers to improve the organizational culture.
References
Cravens, D. W., & Piercy, N. F. (2009). Strategic marketing. New York, NY: McGraw-Hill.
Hooley, G., Piercy, N. F., & Nicoulau, B. (2008). Marketing strategy and competitive positioning. Upper Saddle River, NJ: Pearson.
Rafineiad, D. (2007). Innovation, Product Development and Commercialization: Case Studies and Key Practices for Market Leadership. US: J. Ross Publishing.