(Marketing Report Part 2)
Name: Lam Sai Chung
Course: Fundamentals of Marketing (MKT1102)
Lecturer: Mr. Faizal Naïfs
Lam Sai Chung DB1
Colgate Palmolive came up with different variety of products. They are using the product development strategy in their strategic planning to boost their sales. For instance, the company introduced Colgate Total in February 1999 to the market, and one year later Colgate Sensitive was introduced to the market in January 2000 (Colgate Palmolive, 1999). Throughout all these years, Colgate has come up with Colgate Herbal, Colgate Max Fresh and many other more to help consumers to solve their oral and dental issues. Colgate Palmolive’s products are very different from other brand’s products. For example, Colgate toothpastes are very different from Darlie toothpastes. Colgate toothpastes has almost 48 types, which also consist of toothpastes that are suitable for children. As for Darlie, it only has around 15 type of toothpaste which mostly help with breath freshening. Thus, Colgate Palmolive’s product does stand out among the other brands (Colgate Palmolive, 2016).
In this competitive market, Colgate Palmolive’s products are set according to their competitive pricing strategy (Colgate Palmolive, 2011). They also play with customer psychology by having more doctors to recommend Colgate Palmolive’s product to the market (Colgate Palmolive, 2017). Of course, by this method, Colgate Palmolive will be able to raise their product value and boost their profits. To compare the price of Colgate Palmolive’s product with other brand, Colgate Palmolive seems to be at the average pricing as the other famous toothpaste product.
Toothpastes are daily used product in nowadays, thus there are many shops that are selling all kind of toothpaste product. Colgate toothpaste can be seen in any kind of retail shops and mall. After the products are produce, it will be send to the wholesalers. From that point, retailer will get the products from the wholesaler and sell it in their retail shop to the consumers. These retailer shop can be commonly seen on the street, like Seven-Eleven. Mall like Tesco also sell Colgate Palmolive’s product with other brand’s product at the oral care area. Not to mention, their products are not only sold in urban countries. Countries which are semi-urban and rural also does have their products on the rack in the retail shops (Krishna. B, 2016).
Colgate Palmolive’s products are mainly advertised through television advertisement. In addition, it also has advertisements on internet and newspaper to get more attention from consumers. They segment their consumer by Demographic Segmentation, which consist of age segmentation, therefore they advertised through a lot of medias (Colgate Palmolive, 2017). For instance, internet advertisements are to get the attention of teenagers and kids. As for newspaper, it is to get the elderly who does not know much about internet but still be able to get information about the products. By demographic segmentation, Colgate Palmolive can get attention from all ages and enlarge their targeting market.
In Conclusion, Colgate Palmolive is truly a great company that can satisfy the needs and want of their consumer. Its brand is widely known globally and locally, and consumers do have trust in their products. Moreover, this company has chosen the right strategy for their marketing mix to help them to survive in this competitive market. Not to mention, their products does have help a lot of consumers by solving the oral and dental issues. In general, Colgate Palmolive’s product are trustable and helpful in oral and dental issue. Positive feedback from customers has also help them to make positive image and increase their products ratings.
References listColgate Palmolive (2011) Retrieved from https://www.studymode.com/essays/Colgate-Pricing-Strategy-574810.html (Last Visited 6/7/2018)
Colgate Palmolive Marketing Mix (n.d.) Retrieved from https://www.mbaskool.com/marketing-mix/products/17249-colgate-palmolive.html (Last Visited 10/7/2018)
Elise Dalley (2014) Retrieved from https://www.slideshare.net/krishnabalki/marketing-mix-and-strategy-of-colgate (Last Visited 9/7/2018)
Essay Samurai (n.d.) Retrieved from https://essaysamurai.co.uk/colgate-pricing-strategy/ (Last Visited 11/7/2018)
Hitesh Bhasin (2018) Retrieved from https://www.marketing91.com/marketing-strategy-of-colgate/ (Last Visited 10/7/2018)
Krishna Balki (2016) Retrieved from https://www.slideshare.net/krishnabalki/marketing-mix-and-strategy-of-colgate (Last Visited 11/7/2018)