I have chosen Proctor and Gamble as the parent company of my product’s brand. It appears that P&G is the umbrella company over more than sixty other brands. P&G is a trusted and established company with one hundred and eighty-one years of experience in the world of self, family, and home care products. P&G’s motto is “P&G products have made a name for themselves by combining “what’s needed” with “what’s possible”—making laundry rooms, living rooms, bedrooms, kitchens, nurseries, and bathrooms a little more enjoyable for over 181 years” (Proctor & Gamble, 2020).
The P&G motto promotes innovation and problem solving for people’s personal needs. This motto falls in line with the idea for my product, an affordable, easy, and high-quality skincare line for on-the-go young adults. This company likes to put people first and innovates to reach their goals. For these reasons, P&G will be a perfect match for my products.
- Conduct analysis of whether young adults consider using a skincare product of any type
- Understand how many steps in a skincare routine is too many
- Assess how many other affordable AND high-quality brands are present in the market
These objectives will help us to understand what our chosen segment wants or may be lacking. To further analyze the situation, I will use a Descriptive research design using primary data. This strategy will give researchers an idea of the exact segment to target, a look at the competition, and how consumers are willing to use a product (Babin, B. J., 2019).
During primary research, we will reach out to current consumers in the proposed segment for other P&G products, and conduct surveys through social media, email lists and other mobile contact points. This strategy will cut down on both costs and time running the surveys since social media is a nearly free or low cost, and the internet helps get the message and replies out quickly. This plan will aid in quicker data analysis, and the ability to conduct multiple surveys as trials progress.
Babin, B. J. (2019). Essentials of marketing research.
Proctor & Gamble. (2020). Brands. Retrieved October 30, 2020, from https://us.pg.com/brands/