Marketing in the News
With the COVID-19 situation happening around us at this moment, there has been a change in demand of the products being bought in the stores. It can be seen in the local supermarkets, where there is a highly increased demand for hygienic products such as tissue paper, paper towels and more. The situation has also impacted the amount of these products offered to customers with one pack of tissue being sold to each family at one time. One of the biggest companies that produce these products, Procter & Gamble (P&G) has seen a rise in demand for a lot of their products. I wanted to see how big companies are responding to the increased demand of cleaning products and medicine.
The article I chose came from marketingweek.com and it talked about the sudden rise of demand in a lot of P&G products. These products include: cough medicine, cleaning products, beauty products and baby products. Even shaving products like Gillette razors are experiencing a significant rise in demand due to healthcare advice that tells men to shave before using facial masks. With these recent demand surges, P&G is focusing more now on keeping up their production rate with the demand surges, also without over allocating their costs too much toward advertising. P&G’s value proposition is to provide consumers with a range of products of quality, and they have been successful more than ever by continuing to supply these necessary products in the market in this time of scarcity. In my opinion, I think that this is an excellent course of action from Procter & Gamble because they are taking advantage of a kind of gap in the marketplace for people affected by COVID-19. P&G is also taking advantage of social changes where people are now actively looking for hygiene products, something that P&G is already producing.
The issue right now is that P&G is trying to keep up with the demands of certain products, especially tissue paper. They are trying to promote the idea that the other products offered such as shaving products are also necessary to keep clean. If I was in charge of this marketing project, I would show more to the consumers either through a video or ad, how buying other related P&G products can help to stay clean. For example, promoting hygiene through regularly showering and brushing your teeth can help you steer clear from corona virus would be the kind of ad to show people. After reading about this article, I learned that even successful companies have problems when it comes to sudden increase in demand.
Links:
Procter & Gamble: https://us.pg.com/
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