Marketing & Management Popular Consumers

Question: Discuss about theIndustry Training for Popular Consumers. Answer: Introduction: Colgate Palmolive is regarded as one of the most popular consumers good manufacturer in the world. The organization has its presence in almost 200 countries (Colgate.ca, 2016). As a result, Colgate Palmolive utilizes segmentation analysis in order to reach each and every parts of the world market. At the time of evaluating segmentation analysis, we have found that Colgate Palmolive utilize two types of segmentation namely need based segmentation and psychographic segmentation (colgate palmolive canada: Fighting for a share in the toothpaste market, 2016). We believe that Colgate Palmolive is focusing on these two segments so that it can able to fulfill basic as well as psychographic needs as well. We have found that need based segmentation include basic needs such as clean teeth, reduce sensitivity, whiter smile and improve overall health. We have identified that Colgate Palmolive focuses on the provided quality of the product in order to fulfill the requirements of need-based segmentation. On the other hand, Colgate Palmolive utilizes age wise segmentation of the entire market for the fulfillment of the requirement of psychographic segmentation. We believe that Colgate Palmolive is targeting both segments of the market. However, we have identified that the prime target of Colgate Palmolive is to fulfill the requirements of psychographic segmentation. Since, we have identified that the requirements of need-based segmentation is very basic that the company has to follow in order to conduct business effectively. However, the requirements of psychographic segmentation demands specific focus from the organization. For instance, children like flavored toothpaste whereas adults focus on different factors like cavity, fresh breath and other health benefits (colgate palmolive canada: Fighting for a share in the toothpaste market, 2016). For that reason, Colgate Palmolive has introduced different types of toothpaste in order to target different age group people effectively. Colgate Palmolive also utilizes different promotional strategies in order to improve the effectiveness of targeting. For instance, the company focuses on the utili zation of attractive packaging in order to target children from the market. On the other hand, we have found that the company highlighted the health benefits of the toothpaste in order to grab the attention of the older customers. We have identified that Colgate Palmolive has consciously positioned itself in the niche market so that it can able gain competitive advantage in the market. We have also found that the prime focus of Colgate Palmolive is to position itself as a health product that individuals require in their daily life. We believe that premium-positioning strategy of Colgate Palmolive has able to provide the competitive advantage over its prime competitors. However, we have also identified the fact that Colgate Palmolive has made a conscious focus effort to position them in such a way so that people not only perceive it as a health product. Rather lot of effort has also been made in order to become popular among the children as well. From the above analysis, we can assess the fact that Colgate Palmolive has utilized unique strategies in order to reach as many customers as possible. We have also identified that the company has implemented different strategies for different segments in order to fulfill the objectives of the organization. References: colgate palmolive canada: Fighting for a share in the toothpaste market. (2016).richard ivey school of business foundation. Retrieved 10 August 2016, from https://www.ivey.uwo.ca Colgate.ca. (2016).Colgate.ca. Retrieved 10 August 2016, from https://www.colgate.ca