Marketing Strategies For A Fast Moving Consumer Good Essay
The purpose of this report aims to help plan and propose new marketing strategies for a fast moving consumer good (FMCG), Colgate. In this report we will examine the current market and its competitors, and propose appropriate strategies that can be adopted to continue Colgate’s market leadership and create greater profits for the company. 1.1 Background of Colgate
Colgate started out in 1806, which started their business on starch, soap and candle business on Dutch Street in New York City in the beginning (Colgate, 2015). Colgate managed to introduce toothpaste in jars in 1873 and re-packaged their toothpaste in tubs in 1986. In 2004, Colgate acquires GABA ‘oral care business in Europe’ which has increased Colgate’s trustworthiness with partnering with the European pharmacy channel which has close relations to the dental community (Colgate, 2015). In addition, Colgate partners with Singapore Health Promotion Board to ‘focus on healthy gums’ oral health campaign (Oral Health Month, 2014) and hence, these associations with government organisations with certified dentist as Colgate alliances will reassure consumers on the Colgate brand of toothpaste. Today, Colgate is a global brand that is known for its Oral Care, Personal Care, Home Care and Pet Nutrition.
Colgate has been ranked in Forbes Magazine as ‘World 's Most Innovative Companies’ in 2014 with their innovative products creation such as ‘Colgate Total, Colgate Sensitive Pro-Relief, Colgate Max Fresh,…