P&G/Tide Idea
MKT 337 - Module 1 Blog: Final Project Review
Write about the company you select for your project, explaining why you chose that company, and
think of a new product your chosen company could launch. It can be anything, so do not limit your ideas, because you do not have to justify your new product idea, just explain how you would do market research for it.
What product will you consider launching as the application subject for the final marketing research brief?
Define your research objectives and research design. The research design should cover how you will address any issues raised in recommending your product idea. Be specific. If secondary research is your recommendation, discuss possible sources that would be acceptable. If primary research is your recommendation, discuss the type/audience/reasons.
The company that I chose for my project is Proctor & Gamble, specifically its Tide brand. I chose this company because of its size and market share already in the home care, cleaning, and laundry business. This brand has been around since 1946 and is known everywhere. Even as a kid, I remember doing laundry with my parents, and we always used Tide. It’s a brand that is trusted all around the world. I also chose Tide because I can see the changes that P&G has made to adapt to the world as time and technology advance. They made their packaging recyclable, created cold water to save on energy costs, and then did it again when they started Tide Pods. Even with all their changes, personally, I would like to see them do more and not just make “eco-friendly” products, but for them to also take on that challenge as a leading brand to be more intentional with their packaging and reduce waste. I have always been an earth lover—I try to reduce, reuse, and recycle as much as possible. I do like Tide’s products, but I also wish that they made more drastic changes to their manufacturing practices and package design to make more of a difference in our environment.
The new product that I think Tide can launch is Tide Strips. This already exists in the market by other companies such as Earth Breeze, Tru Earth, Sheets Laundry Club, Kind Laundry, ECOS, and more. Since Tide has been in business for over 75 years, I am surprised that they have not created a laundry strips version to compete with all these other companies who have invented a different alternative to their brand. Tide Strips is not a new product, so I don’t think it will be too hard for Tide to create, especially when there has been a demand for cleaning and washing clothes since the COVID-19 pandemic broke out in 2020. According to MarketWatch, the projected growth for “The Global Laundry Detergent Sheets Market is anticipated to rise at a considerable rate during the forecast period, between 2022 and 2028” (MarketWatch, 2022). Having this option for Tide creates new possibilities for them as laundry strips are more eco-friendly, use less waste, are more accessible, and are smaller to carry (which can help many people such as those living in rural and remote areas, seniors, or those with a physical disability) since it’s so compact. This would also be an excellent option for those who travel, love the outdoors, or are constantly moving. Tide Strips will be much easier to carry, just like dryer sheets, and can save a lot of space and waste in transportation. The options for Tide Strips can be unscented for those with sensitive skin or babies while also providing a variety of scents.
My research objectives and research design objectives would be to use all the existing data that is already available from Tide consumers and deep dive—would they like Tide Strips and switch their regular liquid detergents to strips? Applied marketing research would be conducted, and customer orientation would be the main focus. Customer orientation is the most important because this addresses “consumer desires, beliefs, and attitudes becomes essential” (Babin, 2018). It would also be helpful to use online sentiment analysis for our competitors so that Tide can learn from their competitors who already have laundry strips. With many reviews about Tide’s competitors, they can utilize the “data indicating the total positive or negative mentions of a brand on the Internet to assess and understand the strength of the brand” to their advantage (Babin, 2018). Learning about the strengths and weaknesses of Tide’s competitors will give them the knowledge of how to repeat their success. Proctor & Gamble can also create some focus groups specifically to this so they can learn more about their target demographic who are already existing customers of Tide.
References:
Babin, B. J. (2018). Essentials of Marketing Research (7th ed.). Cengage Learning US. https://mbsdirect.vitalsource.com/books/9780357463703
MarketWatch. (2022, November 2). Laundry detergent sheets market size [2022-2029]: Industry share, growth factor, revenue and Trends Outlook Report. MarketWatch. https://www.marketwatch.com/press-release/laundry-detergent-sheets-market-size-2022-2029-industry-share-growth-factor-revenue-and-trends-outlook-report-2022-11-02
