The paper “ Colgate-Palmolive Company - Growth-Market Strategies for Leaders, Maintaining Competitive Advantage, Marketing Metrics and Audit" is a perfect example of a case study on marketing. There is unprecedented competition in the market today. The need to have a bigger and better market share in the service or the product industry is bigger today than it was ten years ago. This can be attributed to the fact that firms are now than ever before in the quest to understand their customers. Marketing strategies emphasize that the understanding of the customer is far much important than understanding the competitors.
The marketing concept is the new mantra in marketing today. Firms have applied all the strategies they know to better understand their consumers. There are many factors that affect the needs and wants of customers. Therefore, it is important to understand the needs and the dynamics of the customers in the ever-changing environments. They should not only strive to provide the customers with what they want but should also strive to make them affordable. These marketing strategies deal with the fact that the businesses are not the ones that create the needs of the customers but they contribute a lot in influencing the demand by coming up with designs that are attractive, work well, affordable and available.
Businesses will also strive to communicate the features of their products to customers by way of advertising. The paper will analyze the marketing strategies and the effect it has on business operations. Pioneer StrategyAt Colgate-Palmolive conservative understanding embraces that though they receive the most perils and possibly experience more disappointments than their more traditional competitors, as flourishing pioneers they are generously rewarded (Berry, 1983, pp.
34). It is unspoken that competitive advantages intrinsic in being the earliest to go into a new product-market can be continued through the growth stage to the development stage of its product life cycles consequential in a tough divide position and considerable returns for maximization of profits. Some of the strategies that make pioneer strategy used by the Colgate-Palmolive company to be significant in the market are: The primary choice of market position and segments- Colgate-Palmolive as a pioneer company has the chance to expand a product contribution with features that are most significant to the main fragment of clientele or to endorse the significance of qualities that favor its brands.
Thus, its pioneer’ s brands are the standard of orientation that consumers use to estimate other brands. This accounts for the most difficult marketing programs that followers’ with many products intended to persuade the open customers about their latest brands are better to the older and more recognizable pioneer (Colgate-Palmolive). If the pioneer, in this case, Colgate-Palmolive has productively attached its contribution to the preference criteria of the main group of consumers, it also turns into a more complex for followers to distinguish their contributions in manners that are appealing to the mass and economic-market segment.
Colgate-Palmolive targets a lesser tangential segment or position instead (Booms & Bitner, 1981, pp. 45). The pioneer (Colgate-Palmolive) defines the rules of the gameColgate-Palmolive measures on variables as product quality, distribution, price, and promotional budgets and appeals set principles that succeeding competitors must beat and meet client’ s demands as well able to persuade them of their different product choices.
Pioneer locates those standards higher sufficient enough to elevate the costs of market entrance and perhaps forestall some latent competitors.