P&G says growing African-American, Hispanic consumer markets are 'on our radar'

By David Goetzl
(November 20, 2009) Procter & Gamble became the second leading marketer to emphasize that fashioning its business to adapt to a changing society will be critical going forward.

"Very much on our radar screen is what will happen between now and 2050 in terms of the demographics of the U.S. population, where minorities move to a majority," CFO Jon Moeller (pictured) said. "We need to ensure we have products and messages and connections with Hispanic consumers, with African-American consumers."

Coca-Cola said Wednesday that reaching "multicultural" Americans will be a "core focus" between now and 2020.
P&G's Moeller said the company is also mindful of the aging U.S. population and needs to evolve its go-to-market strategy and product portfolio accordingly, although he declined to cite further details.

Speaking at a Morgan Stanley event, Moeller also reiterated the company's commitment to increase marketing outlays in the current fiscal year, saying that "media impressions" will be up 10% -- largely because it has a run of new products and extensions to plug. Categories there include laundry, baby and feminine care.

Moeller said the company will pursue successful marketing as chief in growing sales versus cutting prices -- which it has done recently -- or special promotions. He favors "performance-based value messaging across our entire brand portfolio" and support of "our strong innovation programs."

Scoped @ Target Market News
Post a Comment