P& G Product Innovation and Customer Research

Running head: P& G PRODUCT INNOVATION AND CUSTOMER RESEARCH

P& G Product Innovation and Customer Research

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P& G Product Innovation and Customer Research

Introduction

Most business managers agreed that "customer data is used at the highest levels of the organization to drive strategic direction."(Schultz, 2003, p 38) According to Friedman (2002, p115) one of the most common reason of market failure is "they never start with the customer".

This paper shall give a through analysis of the P&G. it shall analyze the theories and give recommendations regarding it's product innovation and customer research

Analysis

Leveraging of customer information:

Procter and gamble need to collect information regarding the specific consumers concerned with a particular marketing decision at hand. Consumer behaviour theories may give the manager of Procter and gamble appropriate questions to ask.

Knowledge management (KM) is often conceived as a generic process through which organizations generate value from knowledge.

Former P&G logo

Cincinnati's Procter & Gamble is one of Ohio's lar...

Product Development Technologies

Enabling knowledge management takes some planning, and if done in a proper way, it can really reap enormous benefits for the company and people that work for it. The most common mistakes in knowledge management that companies make are: lack of awareness, lack of definition, lack of coordination, and improper use of tools

In order to capture customers more efficiently and obtain more profit from segment groups, marketers should not just focus on the current customer information. In reality, the most important benefit of obtaining information is using it to establish a strong enough relationship with them to encourage repeat purchases and boost customer's lifetime value. Therefore marketer should pay more attention not only for current groups-who are they, and the customer value, but also for future customers- what is the customers' requirements change, and new trends of customer pursuit. (Hooley, Piercy & Nicoulaud...