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Colgate Palmolive - Environment Analysis Free essay! Download now

Home > A Level > Business studies > Colgate Palmolive - Environment Analysis

Colgate Palmolive - Environment Analysis

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Environment Analysis of Colgate Palmolive Precision Toothbrush

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Introduction
Colgate-Palmolive (CP) is recognized as the world’s leader in personal care sales which included oral hygiene products like toothbrushes and toothpastes. In 1991, its sales topped at $6 billion and profits at $2.76 billion as it cornered 43% of the world’s toothpaste market and 16% of the world’s toothbrush market. In the United States, the world’s largest market, CP held the number one spot in toothbrush sales with a market share of 23%. From these statistics, one of CP’s main strengths was being the market leader in oral care products. CP had an extensive Research and Development department boasting 170 employees worldwide. Though having a large R&D department did not directly contribute to increased profits, CP’s history of innovation in the toothbrush market was linked to its current position as the market leader in the toothbrush industry. Therefore Colgate-Palmolive’s strong commitment to innovation through investment in R&D was a prominent strength.
In July 1992, CP senior management announced a new toothbrush model, the Precision that was set to launch in early 1993 i.e. CP’s secret weapon in the war for supremacy in the super-premium market, Colgate Precision, was proven to be very effective in removing plaque – 35% more effective than existing brands – and in preventing gum disease. This advantage could be attributed to the innovative design, high-tech research using Computer Aided Design (CAD) and infrared scanning, consumer research and extensive product testing. Although this technology attracted a strong argument for positioning Precision in the “super-premium” category, Colgate-Palmolive could also use its design aspects to improve Colgate-Palmolive’s existing “professional” and “value” toothbrush lines to increase their respective market shares. Colgate-Palmolive’s patented innovation for Precision also stood as a strength upon which Colgate-Palmolive can lean for other market differentiating advancements.
Problem Definition
In order to meet consumer demand and market expectations to remain leader in oral care segment, Colgate-Palmolive (CP) needed to decide as to how Colgate Precision would be positioned in the toothbrush market, what segment of the market it wanted to target and how Precision could be marketed to its target market. CP could introduce the toothbrush as a niche, super-premium or a mainstream, professional product. It could also introduce the product using standard naming conventions or introduce a new labeling system by calling it the “Precision by Colgate.” CP could leverage existing industry relationships and make an effort to form new ones in order to gain a competitive edge. At launch, CP could plan to offer competitive promotions, a popular offering that was slowly becoming standard practice in the oral care industry. The company could also increase its advertising budget to include educating the public on the dangers of gum ...

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