Topic > Colgate-Palmolive - 866

WS1 CP PaperColgate-Palmolive is a leader in home and personal care products. In 1991, the company planned to launch new products while planning to venture into new markets (Quelch & Laidler, 2011). The company's plan worked, and the company now offers products ranging from oral care products to dish soap to dog food. This document will discuss the company's mission. This paper will also discuss a SWOT analysis which according to Kotler and Keller (2009) is “the overall assessment of a company's strengths, weaknesses, opportunities and threats”. MissionA mission statement should be clear and thoughtful. A mission statement should also provide employees with a sense of purpose and direction (Kotler & Keller, 2009). According to Colgate (2011) the company's mission is to "provide Colgate with a significant competitive advantage by reducing total delivery costs, extending technological resources, and developing excellence in purchasing, logistics, and sourcing processes." The company has been successful in its mission and achieving its goals. Strengths Colgate-Palmolive has been a strong force in the oral care industry. The company has many strengths that have contributed to the company's success. The company has become a global leader with 75% of sales coming from international operations (Colgate, 2011). Over the years the company has built strong brand recognition. According to Sekar and Thomas (2008) “brand differentiation is becoming an important tactic to combat competition in a hostile market”. While price is important, brand also has an important influence on consumers (Chain Drug Review, 2010). Another influence is product positioning. Colgate-Palmolive has been able to place its products in stores and display more items than other brands. The company focuses on the development and innovation of new products. Products range from oral care products to pet foods. The company sells high margin products that it is able to produce at low cost for the company (Datamonitor, 2011). Colgate-Palmolive's financial strategy has helped the company achieve great success. Weaknesses While the company has many strengths, it also has some weaknesses. Although the company remains the market leader in Ireland (Checkout, 2008), the company has seen declining sales in other European countries (Datamonitor, 2011). This decrease may be the result of spending less on advertising than the company's competitors (DeSanto, 2010).