Colgate's Promotional Strategy

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Promotional Strategies of Colgate-Palmolive We see different promotional strategies everyday of our lives from different companies. Some of these companies use their strategies to promote new products, to sustain the success of old products, or to reach out to new markets. Colgate's products are sold to millions of people worldwide, in a number of different countries. They have a specialized marketing team that establishes and maintains a vision for the brand, and they also try to increase sales and profitability for the company. In general, when promoting a product, marketers will develop a promotional strategy that will help differentiate themselves from other similar products on the market. They also need to develop a target market, and their promotional strategy needs to appeal to those people. This concept is called “positioning.” After they have “positioned” themselves in the market, they work on integrated marketing communication (IMC). In IMC, the company integrates all of their promotional tools so that they work together most effectively. Those tools fall into one of six categories: advertising, sales promotion, event and experience, public relations and publicity, personal selling, and direct marketing. Advertising Advertising is done to promote new products, remind consumers of existing products, and to promote the company in its entirety. Colgate does a variety of advertising, mostly through commercials and advertisements in things like magazines and the Sunday paper coupon inserts. They also advertise their products in international markets. They derive about 75% of their sales from countries outside of the US. Advertising age estimated that Colgate spent $887 million worldwide on their advertising. Sales Promotion Sales promotion involves a variety of short-term incentives to encourage customers to trial or purchase a product or service.

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