07.14.22
As inflation soars, Procter & Gamble Co. Chief Executive Officer Jon Moeller said the maker of household goods needs to sharpen its marketing message to consumers amid worsening economic conditions. This week, the US inflation rate reached 9.1%, a 40-year high. With pricing pressures mounting, P&G is reminding consumers that washing clothes in cold water saves money and is more sustainable than washing fabrics in hot water.
The company is focused on daily-use goods such as Dawn dishwashing liquid and Head & Shoulders shampoo, and says the efficacy of its products such as Tide laundry detergent help customers save on energy. While this should keep demand high, P&G needs to do more to explain why it delivers more value than competitors—even if the prices are higher at times.
“We need to be even more deliberate on communication of the value that our brands provide consumers,” Moeller said at an online P&G event on Wednesday. It's not the first time that Moeller has pushed the benefits of P&G's formulas. A year ago, he told investors that the company was well-positioned to succeed in a high inflation environment.
The Cincinnati-based company also needs to make sure entry-level products are affordable for consumers with less purchasing power, he said.
Looking for formulation ideas for an economical, yet premium shampoo? Click here.
The company is focused on daily-use goods such as Dawn dishwashing liquid and Head & Shoulders shampoo, and says the efficacy of its products such as Tide laundry detergent help customers save on energy. While this should keep demand high, P&G needs to do more to explain why it delivers more value than competitors—even if the prices are higher at times.
“We need to be even more deliberate on communication of the value that our brands provide consumers,” Moeller said at an online P&G event on Wednesday. It's not the first time that Moeller has pushed the benefits of P&G's formulas. A year ago, he told investors that the company was well-positioned to succeed in a high inflation environment.
The Cincinnati-based company also needs to make sure entry-level products are affordable for consumers with less purchasing power, he said.
Looking for formulation ideas for an economical, yet premium shampoo? Click here.