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Market Leader Challenges
Being a market leader within about 15 categories P&G will continue to face a number of challenges. For instance, P&G will continue to experience challenges from emerging small niche corporations. Bressler (2012) asserted that small firms can be able to successfully develop competitive edge. The smaller firms can realize this through offering consumers ideal value, such as enhanced levels of customer service. They can further leverage their success over large enterprises by narrowing product categories with a broad range of products. Additionally, smaller firms are likely to accomplish product differentiation in a better manner than largerfirms.
Maintain Strong Brand Images
As means of maintaining strong brand images P&G is supposed to research how they can use social media to reach out their target market. The research has a potential to enable them understand how they can use social media platforms to produce sales in the long run. To further maintain their brand image they need to capitalize on social media wider audience to reach target market. In addition, P&G need to use social media platforms to communicate with their customers in relation to the brands they are offering. Dib and Alhaddad (2015) noted that social media has in the past facilitated positive influence on brand image. Besides, social media can be used to secure brand reputation as well as expand brand awareness.
Future P&G Risk
P&G is likely to face fierce competition from new entrants in the future. The new entrants are likely to narrow the market share of P&G. This will contribute towards increased competition in different brand categories. Dobrivojevic (2013) stressed that new entrants in the market has the potential to narrow market share of the existing large firms.
References
Bressler, M. S. (2012). How small businesses master the art of competition through superior competitive advantage. Journal of Management and Marketing Research, 11, 1-12.
Dib, H., &Alhaddad, A. A. (2015).Determinants of brand image in social media. International Journal of e-Education, e-Business, e-Management and e-Learning, 5(4), 180-.192
Dobrivojevic, G. (2013). Analysis of the competitive environment of tourist destinations aiming at attracting FDI by applying Porter’s Five Forces Model. British Journal of Economics, Management & Trade, 3(4), 359-371.
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