The success of any business firm is always built on defined marketing research strategies. This fact means that for a company to stand at a competitively fair level, it has to keep on doing uncountable research in line with the product on which it’s specializing on. P&G firm is not out of this track, and that’s why this business organization has to adopt various marketing strategies for it to succeed in its day in day out businesses to outdo its competitor's ways. This paper, therefore, will look at those marketing research strategies that Procter and Gamble Co. should apply to succeed in its operations.
The so said marketing research strategies help the P&G company point out on the project to invent on as well as shape and sell its brands as the company sells commodities whose substitutes are flooded in the market. This fact means that the products sold by the company faces a lot of competition and this calls the firm to do things differently, for instance, selling its product at a premium cost. Many people prefer products from this company for a set of reasons making the firm earn a higher margin per sale of its products over a store brand (Sims, 2014) . By finding out why customers prefer its products more than those of its competitors, then it can tailor specific messages on its brand for it to attain a more extensive and highly fragmented niche marketplace.
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Marketing research strategies are crucial in determining purchase causality on each purchase made. The first strategy that the firm assumes is that of processing and selling high-quality products. Every customer or consumer will be motivated to purchase a specific product if its quality is not questionable (Research.Com, 2015) . The company has been to known on its excellent record in selling quality products, and many people interested in buying its commodities uses this as their reference, that is they are more than sure that the product they are going for is of high quality.
Procter and Gamble Company ought to research on the attributes of its existing brands that can make a consumer switch from its competitors’ products and come its way. In this case, the firm needs to research on the possible reasons why a customer of the rival’s product are uncomfortable with the competitor's product and eager to switch to other firms products which serves a similar purpose. The second strategy that the firm uses for it to succeed is the core competency and brand positioning (Sims, 2014) . This strategy helps those in the marketing line explore the relationship that is there between the brand’s core positioning and the actual products core positioning.
The other marketing research strategy that the firm uses is that of positioning and market need. It’s true that many commodities started with only one product in mind, but with time the same product has been repositioned to serve a broader market. This strategy has repeatedly been used by Procter and Gamble firm with the long-term aim being that of expanding its sales to keep it standing all times. Implementing a brand reposition survey is a critical strategy that P$G need to capitalize on to boost its sales and succeed in its operations. Under this strategy, the firm must establish a baseline of the general perception of existing brand as well as product/service brand. The other thing is to source information that will help the company understand the gaps and synergies that are in existence (Schmidt, 2015) . Next is to ask consumers and other people questions in line with opportunities present in the market even if the commodities are not on target. Last is to conduct market research to get useful information that can be used to come up with the best brand.
Space creativity and receptivity is the other strategy that P&G uses. Under this strategy, the firm manages the entire real innovation dilemma making sure that it has provided room for creativity. In line with this, the firm makes it clear all the advantages linked with external technology. This strategy dramatically helps the company in making sure that its marketers are ever creative in their line of duty, and also it helps the firm make sure that its products are up to date by applying the existing external developments at all times upgrade its products (ENRIGHT, 2007) . Under this strategy, the company also comes up with growth orientation, and this is where it commits itself and capitalizes on long-term growth rather than wasting resources featuring on short-term outcomes.
Among other marketing research strategies that Procter and Gamble firm use are; looking at its rival’s sales and advertising materials. This strategy helps the company understand certain things like how its competitors are positioning themselves, whom they are trying to reach and the commodities they are selling most. P&G compensates for the same by making sure that they rank their selves at a better position compared to their rivals. Secondly, they make sure that their coverage as far as consumers’ access is concerned is more significant than that of their competitors. Also, this strategy helps the company push for the sale of the substitute of which their rivals are selling more (Schmidt, 2015) .
Convening a focus group is the other strategy that makes P&G Company succeeds in its operations. The firm gathers a group of likely prospects who helps it learn of people’s opinions, habits, motivation, and preferences among information that allows the company process and sell those products that meet those specifications. In line with this strategy, P&G conducts regular surveys that yield valuable news as far as the sale of its products are concerned (Research.Com, 2015) . These surveys are mainly meant to grasp information from buyers on how well they are interested in specific products and what changes ought to be made on the same commodity; from this, the company makes some necessary changes on the product, so the customer needs are met.
The above-stated strategies have helped Procter and Gamble Company continuously do well in its operations making the firm realize more profits. In early days, the firm used to mass market its products through television and other sources as this was the most effective strategy then. The company has thought otherwise and moved with what is there in the market currently, and that’s why it has changed from mass marketing to consumer targeting strategy (ENRIGHT, 2007) . The new plan is viewed to be better than the previous one as it’s perceived to be the future of the brand building and brand marketing also as better a firm understands its market, the better and yielding its marketing will be.
In conclusion, competition has to be there in any business that an entrepreneur chooses to invest in. This fact does not mean that when your rivals are outdoing you in the market, you ought to quit but it instead calls you to adopt a better marketing strategy that will enable you to counter your competitors’ position. With this regard, the Procter and Gamble Company has made its products outstanding and sell well compared to their rivals products but merely adopting the necessary marketing research strategies and using the same approach all through in its operations and the favorable yields of the same have been evident.
References
ENRIGHT, A. (2007, March 1). P&G looks outside for innovative solutions. M. Planet, 20-21. doi: http://content.ebscohost.com.ezproxy.callutheran.edu/ContentServer.asp?T=P&P=AN&K=24441303&S=R&D=bah&EbscoContent=dGJyMNHr7ESep7Y4y9fwOLCmr1Cep7dSrqi4SbGWxWXS&ContentCustomer=dGJyMPGusUu0rrBJuePfgeyx44Dt6fIA
Procter & Gamble Using Marketing Research to Build Brands Marketing Research Assignment Help and Homework Help. (2015, December 01). Retrieved from https://themarketingresearch.com/procter-gamble-using-marketing-research-to-build-brands-12514
Sims, P. (2014, July 23). How Google and P&G Approach New Customers, New Markets. Retrieved from https://hbr.org/2009/03/how-google-and-pg-approach-new
Schmidt, S. (2015). 5 Affordable Market Research Strategies. Market Research. Com , 13.
