Marketing Essay Example | Topics and Well Written Essays - 3750 words - 1

Marketing - Essay Example Procter & Gamble has one of the largest portfolios of consumer brands that are commonly known in the household, such as Pampers, Tide, Ariel, Pantene, Bounty, Always, Folgers, Downy, Crest, Olay, Pringles, Actonel, Wella, lams, Gillette, and Charmin. Its community consists of over 138, 000 employees in over 80 countries worldwide, making P&G a company whose products reach households of different nationalities. The company started as a small, family-operated soap and candle business, which later transformed into a big transnational corporation that provides products and services of superior quality and value to consumers in more than 180 countries. Procter & Gamble is a Fortune 500, American global corporation based in Cincinnati Ohio whose focus of manufacturing is a wide range of consumer goods. As of 2008, it has placed itself as the 14th largest US company by profit and 23rd by revenue. In 2007, it was placed 10th in Fortune’s Most Admired Companies list.1 It was recorded t hat it spent more on U.S. advertising than any other company in 2007, doubling the $2.62 billion spent by General Motors.2 Procter & Gamble was founded in 1837 by William Procter, a candle maker, and James Gamble, a soap maker. William Procter was an immigrant from England while James Gamble was from Ireland who both settled in Cincinnati and met each other when they married sisters Olivia and Elizabeth Norris.3 As electricity became more and more common, the company stopped producing candles in 1920 and as it grew larger in the early 20th century, it began building factories in other parts of the United States because of a high demand of products outgrowing the Cincinnati facilities. P&G also became known for its research laboratories in the 1900s, in which chemists produced new products. It also pioneered in the area of market research, probing on product appeal and consumer needs. When radio became popular in the 1920s