Company Name: Procter & Gamble
Product: Tide Detergent.
Cost: The average Tide product costs about $15, with price varying based on different aspects of brand extension such as different scents or dispenser types (powder, pods, liquid).
Where to Buy: This product is distributed at an array of stores internationally. Target, Wal Mart, convenience stores and all large grocery store chains carry this product. Our product is not exclusive to any one chain or retailer, therefore their reached audience is higher than that of a company who does only cater to certain stores.
Not only has Tide been distributed throughout the country but also around the world to the Gulf Cooperation Council since 1956.
Target Market: Procter & Gamble serves about 4.4 billion people worldwide (Redbooks)
Demographics:
Tide’s targeted consumers are middle to upper class individuals ($60,000/per year or above for each working individual). The average consumer’s age ranges between 18 and 64 because people in that age group are most willing to try new products. These consumers also have busier lifestyles so they are looking for convenience which can be found in the array of Tide products. “Not only are Americans working longer hours than at any time since statistics have been kept, but now they are also working longer than anyone else in the industrialized world.” (ABC). There are two types of people who flock to Tide products. It’s either working parents with multiple children who have a lot of laundry and little time to do it all or young working couples who are probably living in an apartment complex and have two disposable incomes without children to spend it on. “In 2010, the number of families living in poverty was 9.2 million, up from 8.8 million in 2009. The family poverty rate also increased, from 11.1 percent in 2009 to 11.7 percent.” (U.S. Census, 2011).
Psychographics:
Given that the length of the average American work day is increasing, consumers have less time to do their laundry or complete other household chores. The convenience of having many choices of form of detergent (pods, powder, liquid) gives Tide’s demographic the chance to try new things when they become available from a brand they trust. “The Procter & Gamble Company (P&G) boasts dozens of billion-dollar brands for home, hair, and health. P&G’s hundreds of brands are available in more than 180 countries.” (Hoovers, 2015).
| Product Feature | Product Benefit |
| Tide Brand Name | Consumers know and trust this brand they’ve been using since 1946 |
| Procter & Gamble | Parent company that produces many other well-known, reliable products. (pg.com, 2015) |
| Different Detergent Types | liquid, powder, pods, stain remover (Tide.com, 2015) |
| Different scents available | Febreze, Downy, free & gentle, scent-free, etc. (Tide.com, 2015) |
| Works on a variety of garments | Specific products for brights, whites, towels, etc. (Tide.com, 2015) |
| Cuts down on waste | Tide High Efficiency (HE) Detergent is made just for HE washing machines, designed to save electricity. Tide Pods reduce waste by eliminating spills and only using the amount of detergent needed per load. (Tide.com, 2015) |
| Easy to use | Simple instructions are located on every bottle. With Tide Pods, the consumer’s detergent is even pre-measured. (Tide.com, 2015) |
| Designed for everyday use | Available for purchase at many locations. Simple instructions. Very hard to mess up using this product. (Tide.com, 2015) |
| Leaves behind a clean scent | “That natural, fresh-and-clean smell is stimulating and creates an instantaneous mood of being happy,” says Craig Warren, a former researcher for the firm International Flavors & Fragrances (NYMag, 2013) |
| Stain removal | “Just add it to your wash along with your regular detergent and let it go to work for you on ketchup, strawberry jelly, chocolate and grass stains.” (Tide.com, 2015) |
| Sold at a variety of stores | convenience stores, grocery stores, wholesale retailers (Costco, Sam’s Club) |
| Fully dissolves throughout wash cycle | “Dissolves quickly in hot & cold” (Tide.com, 2015) |
| Black Market Value | Tide is also known as “Liquid Gold,” and stolen products are being exchanged on the street for cash or drugs. (NYMag, 2013) |
| Doesn’t dull clothes’ colors | Tide products are loaded with color protecting ingredients to help keep clothes looking bright. (Tide.com, 2015) |
| Doesn’t irritate skin | Certain Tide products are made without dyes or perfumes for people with sensitive skin. (Tide.com, 2015) |
Reference List
The Procter and Gamble Company Information. (2015). Hoovers. Retrieved from: http://www.hoovers.com/company-information/cs/company-profile.The_Procter__Gamble_Company.89fae93ad9ab54d7.html
Touching Lives, Improving Life: Why Innovation Matters and How to Make it Work [Speech Transcript]. (2008). McDonald, B. Retrieved from: http://www.pg.com/en_US/downloads/company/purpose_people/touching_lives_improving_life.pdf
Home Laundry Products. (2014, August). Mintel. Retrieved from: http://academic.mintel.com/display/680571/
Suds for Drugs. NYMag Online. (2013, Jan. 6). Paynter, B. Retrieved from: http://nymag.com/news/features/tide-detergent-drugs-2013-1/index1.html
The Procter & Gamble Company. Busniess Summary. (2015, April 9). Redbooks. Retrieved from: http://www.redbooks.com/advertiser/PROCTER_AND_GAMBLE_COMPANY/
Americans: Overworked, Overstressed. ABC News Online. (2014, May). Schabner, D. Retrieved from: http://abcnews.go.com/US/story?id=93604
Shop Products. (2015). Tide.com. Retrieved from: http://tide.com/en-us/shop
Income, Poverty and Health Insurance Coverage in the United States: 2010 [Press Release]. (2011, Sept. 13). United States Census Bureau. Retrieved from: https://www.census.gov/newsroom/releases/archives/income_wealth/cb11-157.html
Tide Pods Market Analysis [Prezi Presentation]. (2013, May 16). Wallace, A. Retrieved from: https://prezi.com/foc3p4vyftoj/tide-pods-market-analysis/
U.S. poverty number rise, but that’s not the whole story. Lubbock Avalanche Journal Online. (2011, Nov. 21). Williams, W. Retrieved from: http://lubbockonline.com/editorial-columnists/2011-11-21/williams-us-poverty-numbers-rise-thats-not-whole-story#.VSwHZxPF-YQ
Kelly Davis 