When you are the worlds biggest advertiser, it is imperative to know your consumers. P&G spends $6.7 Billion annually on advertising, so needless to say they are trying to stay on top of makret research. Suzanne Vranica writes about the consumer products giant's newest market research tools Monday's WSJ in an article titled "P&G Plunges Into Social Networking."
The article talks about two instances where P&G is trying to use the internet's social networking phenomenon to learn more about its customers. Once site, called Capessa, is a part of Yahoo! Health where women can go to talk and get information about nutrition, raising children, women's health issues, and the like. Marketing on this site is subtle. It does not directly adverstise any P&G products, as it is intended for more serious research and discussion. I really like that the company is resisting the urge to over-commercialize this site, and I think it will positively contribute to the sites effectiveness. The idea here is a broad focus group-like scenario. P&G is aiming to learn more about its target audience's likes, dislikes, and priorities.
The second site mentioned is that of The People's Choice Awards. The focus of this site is more commercial, and the site does contain ads for many P&G and non-P&G brands. This site has a much different flair, touting celebrity endorsements and pop culture. One major goal of this site is to inprove the dwindling ratings of the People's Choice Awards show.
As a Proctor and Gamble shareholder, I am quite happy to see them keeping it innovative with market research. I was first attracted to the company's strategic placement of multiple products at different price points. These guys are definately into knowing how to deliver what people want. These new sites are an excellent way to do research faster and on a larger scale. In his article "Strategy and the Internet", Michael Porter touts that companies must find new and innovative uses for the web in order for the web to yield a competitive advantage. P&G's new strategies
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