Product– Colgate Cavity Protection Toothpaste

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Q1. Market research for collecting information on potential and present customers/ Colgate Cavity Protection Toothpaste

Market research is the collection and analysis of information about competitors, consumers, and marketing activities’ efficacy. As an established company, Colgate uses market research to increase its profit margin. Market research allows the company to collect accurate information about consumers, competition, and the marketplace to develop an effective marketing plan. In this case, internal information sources, including customers’ orders and salespersons’ information, about Colgate Cavity Protection Toothpaste would be suitable consumer information.

Essentially, customer orders would enable the company to track customers’ initial inquiries based on order placement, delivery, and payment. Similarly, Marshall and Johnston (2019) allege that tracking customers’ inquiries, starting from order placement, delivery payment, and follow-up after buying, can provide an organization with relevant information on customers and how operations are faring. Hence, Colgate can use customer relationship management (CRM) information to develop customer-centered strategies. Data gathered and analyzed in the CRM will help Colgate identify the frequency and quantity of customer orders to determine customer satisfaction.

Equally, salespeople are an effective source for collecting information. According to Gonzalez and Claro (2019), salespeople are useful sources for customers, market trends, and competition. Thus, salespeople could help the company gather relevant information regarding the performance of Colgate Cavity Protection Toothpaste. Specifically, the sales force can provide information about strategies and marketing plans used by rivals such as Procter & Gamble, Unilever, and Clorox Company.

Colgate Cavity Protection Toothpaste

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References

Colgate-Palmolive Company. (2019). 2019 annual report and Form 10K. Annual reports.com.             https://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_CL_2019.pdf

Colgate-Palmolive Company. (2021). Colgate® cavity protection toothpaste. Colgate.com.  https://www.colgate.com/en-us/products/toothpaste/cc-cavity-protection

Curtis, B. L., Ashford, R. D., Magnuson, K. I., & Ryan-Pettes, S. R. (2019). Comparison of smartphone ownership, social media use, and willingness to use digital interventions     between generation z and millennials in the treatment of substance use: Cross-sectional         questionnaire study. Journal of medical Internet research, 21(4), e13050.           https://doi.org/10.2196/13050

Das, S.  (2016). Demographic characteristics of consumer’s on selected brands of toothpaste.        Pacific Business Review International,1(2).       http://www.pbr.co.in/2016/2016_month/July/4.pdf

Gonzalez, G. R., & Claro, D. P. (2019). How intrafirm intermediary salespeople connect sales to marketing and product development. Journal of the Academy of Marketing Science,           47(5), 795-814. https://doi.org/10.1007/s11747-019-00656-8

Marshall, G,. W & Johnston M, W. (2019). Marketing management (3rd Ed.). McGraw-Hill          Education

Wang, F., Diabat, A., & Wu, L. (2021). Supply chain coordination with competing suppliers         under price-sensitive stochastic demand. International Journal of Production Economics,          108020. https://doi.org/10.1016/j.ijpe.2020.108020

By admin in Essays on September 30, 2022