MARKET ANALYSIS

Subject

Market Analysis on Tide detergent

SITUATIONAL ANALYSIS

Social and cultural environment:

P&G has continued to maintain momentum in its socio-cultural

environment in line with its sustainability drive.

The company is working relentlessly to bring improve hygiene

and better nutrition to people.

Technological environment:

Superior product propositions and technological innovations

have enabled P&G to achieve market leadership in a

majority of categories it is present in.

P&G consistently improvises Tide detergent products with

innovations and new technologies and continues to diversify.

Economic environment:

P&G is one of the largest and amongst the fastest growing consumer goods companies in India

Currently invested in the country via its five plants and over nine contract manufacturing sites, as well as through the 26,000 jobs it creates directly and indirectly

Ecological environment

P&G aims to continue to delight consumers with meaningful sustainable innovations that reduce the environmental impact of their products across the full product lifecycle.

Their sustainability efforts focus on Environmental Protection as well as Social responsibility to help develop the communities they operate in.

Political and Legal Segment:

P&G uses its goodwill and experience to bargain with

the government in many countries to modify their

policies and regulations

P&G also uses advertisement campaign to raise

awareness of national issues, gain public support and

sustain favourable political-legal environments

Ethical issues:

The comparison ads of Tide and Rin

Legal Environment:

Administration is with respect to the Legal conditions to

avoid government or political interference.

Products are not environment friendly.

Segmentation

People who have fixed budget for household things like

detergents and look for economical options Tide serves

as a better option and helps the consumers , one of the

finest the products in convenient rates.

Target group

Women age group from 18 to 54 years old are the

target audience for the product as well as the middle

class category. Tide comes under the middle class

target group.

Positioning:

A product that has the all required qualities needed in

the detergent, and priced well in the market,

affordable to all.

DEMOGRAPHICS

Tide targets women from across 18 years to 54 years .

This is because women in this age category hold the

power to make laundry decisions , also housewives are

also considered an important part of the market

segment as they are the ones who do the monthly

shopping of home products.

Tide is affordable for any middle class family .

Tide hails from the big family of P&G , which even

happens to be the company for Ariel, another

detergent in competition with tide

GEOGRAPHIC

SWOT ANALYSIS

Strength

Benefit or attribute over other products in the same

category

Leading market position

Lower price and good quality

Most popular and widely patronized detergent in the

world and a flagship brand of P&G

Renowned by its reputation of complimenting the ever-

changing people’s temperaments for fashion

Weakness

Strong competitors

Substitute products available at the same price

Example- An in house brand i.e Ariel, also a P&G

substitute, where as other substitutes such as Rin, or Surf

excel. Another competition would be the price

difference in which its being sold. Also the possible

offers that is being offered along with the product. It

can be either an extra quantity or the rates might be

slashed down

Opportunity

High potential of rural market has a lot of

opportunities

Changing lifestyle of people want cheap product with

good quality

Introduction of better variants by technology

development and innovations

Niche target market.

Threats

Price wars with competitors

Aggressive promotion by competitors , harming the

reputation of the product and ambush marketing

Counterfeit products in the rural market

Example – similar products can compete with the brand

where as an substitute can also be a possible threat,

such as a bar instead the powder or a liquid soap

instead the

NEED/ WANT/ DEMAND:

Need: It is state of deprivation of some basic satisfaction. eg.- food, clothing, safety, shelter.

Want: Desire for specific satisfier of need. eg.-Indians needs food – wants paneer tikka/ tandoorichicken. Americans needs food- wants hamburger/ French fries.

Demand: Want for a specific product backed up by ability and willingness to buy. eg.- Need – transportation.

Want – Car (say, Mercedes)……but able to buy only Maruti. Therefore, demand is for Maruti.

Marketers cannot create needs. Needs pre exists. Marketers can influence wants. This is done in combination with societal influencers.

VALUE/ COST/ SATISFACTION:

Decision for purchase made based on value/ cost satisfaction delivered by product/ offering.

Product fulfills/ satisfies Need/ Want.

Value is products capacity to satisfy needs/ wants as per consumer’s perception or estimation.

Each product would have a cost/ price elements attached to it.

Eg. – Travel from city A to city B.

Need – to reach B ( from A)

Method/ Products- Rail, air, road, plane and waterways.

Satisfaction – Estimated in terms of time lead & travel comfort.

VALUE– Products capacity to satisfy.

COST– Price of each products.

PRODUCT MIX

Line

Detergents/

household

Beauty and skin

care

Personal care Haircare

Tide

Airel

Abmi pure

Duracell

Olay Pampers

Whisper

Oral – B

Vicks

Gillette

Pantene

Head and

shoulders

Wella

WIDTH

The width of the Product mix of P&G is:

13 number of products

DEPTH

Ariel Tide Ambipure Duracell Olay Oral –B

Ariel Oxyblue

Ariel oxyblue

ultramtaic

Ariel front of Mat

Ariel 2in1

Tide Original

Tide Bar

Tide plus

Naturals

Tide plus jasmine

and rose

Tide Talcom

powder

Room

freshner

Car freshner

AAA, AA, C, D, and

9-volt while

Duracell Ultra

AA and AAA sizes.

Base Moisturizer

Anti Ageing and

Olay Whitening

ANTI AGEING

Olay Total

Effects, and Olay

Age Protect

Whitening

Olay White

Radiance Olay

Natural White.

Base

Moisturizer Olay

Moisturizing

Lotions and

Creams.

CrossAction Pro-

health 7

Benefits,

CrossAction Pro-

health Superior

Clean and

Advantage

Sensitive

toothbrush.

Oral-B’S floss

range includes

Ultra Floss &

Essential Floss.

DEPTH

Pampers Whipser Vicks Gillette Pantene Head and

shoulders

Pampers Active

Baby, Pampers

Active Baby

Pants,

Whisper Ultra

Regular

Wings,Whisper

Ultra XL Wings,

Whisper Ultra

Heavy Flow

Overnights

Wings, Whisper

Maxi Regular,

Whisper Maxi XL

Wings, Whisper

Choice Regular,

Whisper Choice

Wings and

Whisper Choice

Ultra Wings.

Vicks Cough

drops, Vicks

Vaporub, Vicks

Inhaler, Vicks

Vapocool, and

Vicks Action 500

Extra.

Gillette Vector,

Gillette Mach3,

Gillette Mach3

Turbo, Gillette

Guard and

Gillette Mach3

Turbo Sensitive

and Gillette

Fusion. The

Shave Care

range includes

Gillette Fusion

HydraGel,

Gillette Series

Sensitive Skin

Foam, Gillette

Series After

Shave & Gillette

Classic Shave

Foam Sensitive

Skin.

- Pantene

Nourished Shine,

Pantene Hair Fall

Control &

Pantene Smooth

& Silky

Men Hair Retain,

Complete Care

for Dry Scalp,

Anti Hair fall,

Smooth & Silky,

Cool Menthol,

Clean &

Balanced, Thick

& Long & Silky

Black.

CONSISTENCY

Air Fresheners

Laundry detergents

Batteries

Blade cartridge and razors

Shampoos and Conditioners

Personal and Beauty products for women

Inter dental products (tooth pastes and brushes)

Baby Diapers and moist towelettes

Respiratory health and therapeutic products (cough and cold products)

Sanitary napkins

Haircare

DEPTH

Detergent Powder and Bar Tide Original

Tide Bar

Tide plus Naturals

Tide plus jasmine and rose

Tide Original

Tide Bar

Tide plus Naturals

Tide plus jasmine and rose

Tide Talcom powder

Product Life Cycle

Above is the Product Life cycle graph. This is a constant graphical representation of a life cycle of

any Product.

Introduction- During this phase when the product is actually introduced into the market, Product

branding and quality level is established. Pricing may be low to penetrate the market. Distribution

is selective until the consumers show interest/ acceptance towards the product. Promotion is aimed

at early adopters and potential customers of the product.

Growth- As the name rightly suggests once the Product is introduced into the market, a gradual

increase in the growth of the sales of the product is observed. Product quality is maintained in this

stage, as well as the pricing is maintained because the company enjoys increasing demand with

little competition. Distribution channel is added as demand increases, and the promotion is catered

to larger demographics.

Maturity – This is the point where the product has been properly established its worth, and this the

only time where the sales rise up. Product features are enhanced to differentiate with other

products. Pricing may also be the reason for good sales compared to the competing products,

hence the distribution becomes more intensive. promotion emphasises product differentiation,

Decline – this would be the gradual decrease in the sales of the product . Due to many reasons, the

quality might degrade, or the price might shoot up or a new product might enter in the market or

the consumer might would shift to other existing product. The manufacturers not maintaining the

product quality or no new technique is added

PRODUCT MARKET MATRIX ANSOFF

Existing product & Existing Market = Market Penetration

Existing Product & New Market = New Market development

New Product & Existing Market = New Product Development.

New Product & New Market = Diversification

5 STEPS PROCESS OF CONSUMER BUYING

BEHAVIOUR

Problem Recognition

Dirty clothes need to be hand washed as only 28% of the households have washing

machine.

The aim to use the detergent is to make the clothes smell good, therefore, it is used in small

quantities.

Information Search

so assumption from the case study is that, apart from television, word of mouth publicity is

predominant as women in India wash clothes approximately five times a week in a public

laundry which is more like a gathering place.

Evaluation of Options

Evaluation of detergent is based on the following attributes

Ability to clean and whiten the clothes with small quantity of product.

Smell of the detergent is directly proportional to softening power of the detergent and

gentelness to fabric and hands.

Stain removing ability without the use of laundary soap and bleach.

Ease with which the powder dissolves in water and absence of residue on the fabric after rinsing.

Packaging - Distinctive, simple and recognizable, easy to open and protection against humidity.

Impact of colours was the least attribute for these consumers.

Product Choice

Analyses of the exhibits in the case study reveals that Tide brand has all the required attributes and is quite popular among the indianconsumers. However, majority of them could not afford to buy Tide,

Post-Purchase Evaluation

Since, the product is not complex and is used in day today life, looking at the constraints available in the Indian region, low income consumers do not have a choice to purchase the best at low price. So, assumption is that they go by whichever detergent powder is available in the market as per their budget. Therefore, post purchase evaluation hardly plays a significant role

LEVELS IN A PRODUCT (TIDE)

Core : Clean and white clothes

Basic :Attractive orange packaging , and less expensive

Expected : Brand name will live up to the expectations of the clothes turning whiter and cleaner in a wash as compared to other brand

Augmentation: Customer care – toll free no . Feedback on social media, offers

Expected: More whiter and cleaner , more long lasting fragrance

Potential : Upgrading from powder to liquid detergents, more offers, automatic washing machine detergents.

MASLOW’S HIERARCHY

Biological and Physiological needs - air, food, drink, shelter, warmth, sex, sleep, etc.

Safety needs - protection from elements, security, order, law, limits, stability, etc.

Belongingness and Love needs - work group, family, affection, relationships, etc.

Esteem needs - self-esteem, achievement, mastery, independence, status, dominance, prestige, managerial responsibility, etc.

Self-Actualization needs - realising personal potential, self-fulfillment, seeking personal growth and peak experiences.

Perception

Selective attention: This category includes those consumers who watch Tide detergent promotions and are attentive towards the product.

Selective retention: This category includes those consumers who remember Tide Detergent and considers it to use.

Selective distortion: The consumers who are planning to try or have tried or have been using Tide detergent, get influenced by some other Brand and stops using Tide fall under this category.

B2B

Tide is a ‘B2B’ and ‘B2C’.

Tide is a Business2Business as it deals with one

company to another . eg – PnG group is a company

which is included as Business , its outcome product is

Tide which also gets included in business

Tide is a convenient good , hence it comes under

the ‘B2C’ category as it is easily available from

general stores, medicals and shopping malls .

Marketing and Demand Generation

Production

Distribution

Type of shoppers for tide –

Housewives or mothers who do the monthly groceries for the family

Buyers are high value deal seekers

Habitual shoppers and are involved in the high involvement of their shopping

If they launch the new Tide Liquid it will need some serious promotions especially based on the AIDA .

Cross selling – as of now tide has not made any new products but the Tide softener may be a good investment for PnG India .

TOWSSTRENGTH WEAKNESS

TOWS-Leading manufacturer & marketer of

consumer product

-P&G does business in more than 16

countries

-P&G strongly committed to a brand

management approach

-Spends a lot in R&D

-Weak balance sheet, highly

leverage 73.3% and low liquidity

ratio

-Lack of product variety of green

products

Business ethics, lack of women

leadership in the executive board

OPPORTUNITIES SO WO-80% of world population from

developing countries

-Increasing number of population

in developing countries

-Growing/stable economy in

developing countries

-Growing trend of consumer

product in larger consumption

-Growing trend of beauty product

& care usage

-Aggressive promotional mix of beauty

products to India & South east Asia

-Increase distribution channel to retail

store store/wholesalers/Supermarkets

-Introduce P&G latest product variety

-Enhance customer loyalty relationship

through its personal care/service

centre/call centre

-Develop a new beauty product

using natural ingredients to

create green product variety

-Prioritize recruitment on women,

for equal gender working

environment

THREATS ST WT-Economic & political disruptions

-Rising commodity prices

-Price competition

-Media fragmentation

-Pricing to match competitor by

repackaging/package deal for house

hold/ family care product

-Reduce inefficient and ineffective

workforce

-Minimize cost on R&D in order to be

financially stable in recession

- Cost-effective control system to

increase efficiency & profit and to

generate more cash inflows.

POSITIONING

Indian detergent industry is estimated to be around Rs5000 crore and is dominated by the marketing giant HLL. P& G although was in the Indian market for a long time was not a serious player in the detergent market. But when the Indian market opened up and the economy began to prosper, P&G could not resist entering the Indian marketing a big way. As always MNCs are too proud of their brands that they want a premium from the consumers. Here also ,Tide was launched as a premium brand and as usual got a luke warm response from the value conscious Indian consumers. P&G had to settle with a miniscule 8 % of the detergent market.

Then came 2003 and the price war started and now there is no premium brands in the detergent market in India. The price war enabled P&G to popularize the brand and increase the penetration. Although HLL and P&G did not increase their market share because of the price cut, the overall market size increased because the regional players lost their share to these giants.

P&G had a serious problem after the price cut because there was a chance of cannibalizing between Ariel and Tide because there was no significant differentiation between the two brands.

Now Tide has found its formula, the same global positioning as a Detergent that cleans perfectly. So using whiteness ( safedi) as a base Tide has now unleashed the campaign highlighting its whitening power against HLL's Rin which has the same positioning.

LINE PRICING

Tide has many products under its name, its only in

India that tide has yet to launch many of its

products

The products that Tide India offers are Tide

(detergent) , Tide (bar with whieons) and Tide

Naturals

Tide in India is not launching anything new this year

or so

RETAIL GRAVITY MODEL

Gravity model is a theory about the structure of

market areas

The model states that the volume of purchases by

consumers and the frequency of trips to the outlets

are a function of the size of the store and the

distance between the store and the origin of the

shopping trip

This depends on consumer consumption and the

mood of the buyers and their habits.

TYPE OF SHOPPERS FOR TIDE

Tide is brought by housewives or mothers who do the monthly groceries for the family .Such buyers are high value deal seekers , habitual shoppers and are involved in the high involvement of their shopping .

If they launch the new Tide Iiquid it will need some serious promotions especially based on the AIDA.

Cross selling – as of now tide has not made any new products but the tide softner may be a good investment for PnG India .

PRICING APPROACHES

The Three Cs

Cost-based

Customer-based

Competition-based

Knowing your COSTS allows you to determine whether your pricing will allow you to stay in business.

Understanding your potential Customers lets you assess whether anyone will buy this product at that price (and location etc..)

Considering your Competitors indicates whether your business will actually attract customers

While you need take all three into account, generally ONE of them should become your primary pricing guide

How to Implement Need to identify and consider ALL Costs – Fixed costs include … and will be there whether or not you produce –Variable costs include… and will only be paid… – Depreciation –often neglected because it is not a cash cost – Opportunity costs reflect the cost of using something such as your own labor or land. Even if you don’t pay cash you need to recognize what you are giving up…

Cost-based Pricing: How to Implement Set prices based on these costs Relatively simple strategy once you have the data– you simply mark up the cost

Cost-based Approach Works Best: When you have a special relationship with your customer. This means you know: – There is a demand – You won’t be pushed aside for another supplier Often price for the long run in these sorts of relationships. That is, you don’t necessarily price for the maximum for this single sale

7 O’S OF MARKETING

Occupants: Who contribute the market

Object: Cost efficient, good quality, easy and quick stain removal Detergent

powder, bar and Liquid.

Objective:

To establish a premium product at a premium price in the Indian detergents market.

2. To play for the leadership position in the industry for Tide and make Tide the leading

detergent in India

Organization: Retail outlets, Supermarkets, Online stores, stakeholders and

consumers

Operations: Cash, Credit cards and Debit cards

Occasion: Regular basis

Outlet: Retail shops, authorized dealers, super markets, online stores

PRICING

Pricing is one of the four elements of the marketing mix, along with product, place and promotion. Pricing strategy is important for companies who wish to achieve success by finding the price point where they can maximize sales and profits. Companies may use a variety of pricing strategies, depending on their own unique marketing goals and objectives.

Premium Pricing

Premium pricing strategy establishes a price higher than the competitors. It's a strategy that can be effectively used when there is something unique about the product or when the product is first to market and the business has a distinct competitive advantage. Premium pricing can be a good strategy for companies entering the market with a new market and hoping to maximize revenue during the early stages of the product life cycle.

Penetration Pricing

A penetration pricing strategy is designed to capture market share by entering the market with a low price relative to the competition to attract buyers. The idea is that the business will be able to raise awareness and get people to try the product. Even though penetration pricing may initially create a loss for the company, the hope is that it will help to generate word-of-mouth and create awareness amid a crowded market category.

TARGET MARKETS Target market will be located within the lifestyle areas of Cosmopolitan centers and Affluent Suburban Spreads. These areas have high index numbers but still low compared to Tide’s tope target markets. Targeting these markets will be greater for the masses and getting the word out to a wide variety of consumers. This is a huge location of living for our target audiences.

TARGET AUDIENCES

Young singles

Purchasers, decision-makers, and influencers.

Between 18 and 25 years of age.

This audience is another brand switcher and still in college or out of college just figuring out who they are and what they want to do for the rest of their lives. Their social life is extremely important and so is their image. They are fun, active, and enjoy socializing. This group was picked based on the index numbers showing that they use their fair share of Tide To-Go but there is room for improvement. Tide’s core competitors are all low in index numbers for singles. This is an opportunity for Tide to swoop in and be ahead of the game with this target audience. The opportunity to target transitional and senior singles is huge. After targeting the young singles there has to be a movement upwards for Tide. All marketing plans start young. This is a great way to implement what we have to offer and it will trickle into later years for these consumers. The marketing tactics will target campaigns to young singles, however the campaign can and will bring in the other singles interest as well as other demographics.

Brand Extension

RELATED READING: CONSUMER PRICING STRATEGY

Economy Pricing

Economy pricing is a familiar pricing strategy for organizations that include Wal-Mart, whose brand is based on this strategy. Aldi, a food store, is another example of economy pricing strategy. Companies take a very basic, low-cost approach to marketing--nothing fancy, just the bare minimum to keep prices low and attract a specific segment of the market that is very price sensitive.

Price Skimming

Businesses that have a significant competitive advantage can enter the market with a price skimming strategy designed to gain maximum revenue advantage before other competitors begin offering similar products or product alternatives.

Psychological Pricing

Psychological pricing strategy is commonly used by marketers in the prices they establish for their products. For instance, 99rupee is psychologically "less" in the minds of consumers than 100rupees. It's a minor distinction that can make a big difference

A reference price is a strategy where a particular good or service being sold is made to look more attractive in terms of price by placing it next to a more expensive alternative. Here, the price of the expensive alternative serves as a reference price for the good to be sold.

Pricing objectives or goals give direction to the whole pricing process. Determining what your objectives are is the first step in pricing. When deciding on pricing objectives you must consider:

the overall financial, marketing, and strategic objectives of the company;

the objectives of your product or brand;

consumer price elasticity and price points; and

the resources you have available.

BUYER EXPECTATIONS

Tide should fulfill the basic need of washing of the clothes easy and quick.

It promises to retain its odour throughout the day

Fair pricing; Should be cost efficient

Safe for the clothes and helps in keeping hands soft

It is branded

Variety of products

Easy availability

Different from the competitor products

DUAL DISTRIBUTIONS

Direct Distribution: Online stores of P&G

Indirect Distribution: Retail shops, authorized dealers,

super markets, e commerce websites

BUYER CATEGORY

Laundry needs with variety of products

Clean white clothes without bleaching or removing

colour from a garment

Push and pull marketing strategies

Promotional strategies to get your product or service to market can be roughly divided into two separate camps.

Push strategy

A push promotional strategy involves taking the product directly to the customer via whatever means, ensuring the customer is aware of your brand at the point of purchase.

"Taking the product to the customer"

Examples of push tactics

Trade show promotions to encourage retailer demand

Direct selling to customers in showrooms or face to face

Negotiation with retailers to stock your product

Efficient supply chain allowing retailers an efficient supply

Packaging design to encourage purchase

Point of sale displays

Pull strategy

A pull strategy involves motivating customers to seek out your brand in an active process.

"Getting the customer to come to you"

Examples of pull tactics:

Advertising and mass media promotion

Word of mouth referrals

Customer relationship management

Sales promotions and discounts

PUSH STRATEGY

The term 'push strategy' describes the work a manufacturer of a product needs to perform to get the product to the customer. This may involve setting up distribution channels and persuading middle men and retailers to stock your product. The push technique can work particularly well for lower value items such as fast moving consumer goods (FMCGs), when customers are standing at the shelf ready to drop an item into their baskets and are ready to make their decision on the spot. This term now broadly encompasses most direct promotional techniques such as encouraging retailers to stock your product, designing point of sale materials or even selling face to face. New businesses often adopt a push strategy for their products in order to generate exposure and a retail channel. Once your brand has been established, this can be integrated with a pull strategy.

PULL STRATEGY

'Pull strategy' refers to the customer actively seeking out your product and retailers placing orders for stock due to direct consumer demand. A pull strategy requires a highly visible brand which can be developed through mass media advertising or similar tactics. If customers want a product, the retailers will stock it - supply and demand in its purest form, and this is the basis of a pull strategy. Create the demand, and the supply channels will almost look after themselves.

Upselling - Downy softener and Tide laundry detergent, products distributed by Procter & Gamble, are pictured on sale at a

Ralphs grocery store in Pasadena, California January 21, 2014.Downy softener and Tide laundry detergent, products

distributed by Procter & Gamble, are pictured on sale at a Ralphs grocery store in Pasadena, California January 21, 2014.

Procter & Gamble Co (PG.N), the world's largest household products maker, said it could sell about half of its brands in the next

two years and cut jobs to revive sales growth and save costs, sending its shares up as much as 4.3 percent. The maker of

Gillette razors and Tide detergent said it would consider selling about 90 to 100 brands whose sales have been declining for

the past three years.P&G said the 70 to 80 "core" brands it will focus on accounted for 90 percent of sales and more than 95

percent of profit over the past three years. Twenty-three of the brands have sales of between $1 billion and $10 billion. "Less

will be much more," Chief Executive A.G. Lafley said. P&G did not name the brands it planned to sell, keep or discontinue, but

Lafley told Reuters the company's family, feminine and baby care business would lose fewer brands than its other four

businesses. The business, which houses brands such as Pampers diapers and Always sanitary napkins, is P&G's fastest-growing

and was the company's second-biggest revenue contributor in the year ended June 30.P&G's top 80 brands had sales of about

$84.1 billion in 2013 while the other roughly 100 brands had sales of just $2.4 billion, according to Sanford Bernstein analyst

Ali Dibadj. The company might be more likely to sell laundry brands Fab and Trojan, Perma Sharp shaving blades and Fekkai

hair products among others, Dibadj wrote in a note. P&G could potentially keep its Gillette, Tide, Pantene, Oral B, Olay and

Old Spice brands, he wrote.P&G said it would have fewer but larger distribution centers in North America and would focus on

strengthening its presence in emerging markets, or what Lafley called the company's "engines of growth".Lafley told Reuters he

expects the moves to result in fewer job cuts than the near 10,000 the company cut in 2002. SLUGGISH SALES

P&G's revenue growth has been sluggish, with sales missing Wall Street's estimates in nine of the last 13 quarters.The company says it has been hurt by "choppy" growth in developed markets, tough competition and a strengthening U.S. dollar.P&G has sought to cut expenses by streamlining management, reducing costs and cutting jobs under a five-year, $10 billion restructuring plan announced in 2012. P&G's organic sales, which excludes divestitures and acquisitions, rose 2 percent in the fourth quarter, but currency losses wiped out the gains. Net sales fell 1 percent to $20.16 billion, missing the average analyst estimate.P&G said it expected fiscal 2015 organic sales to rise by a low- to mid-single digit percentage and core earnings to rise by a mid-single digit. A 7 percent fall in operating expenses in the quarter helped P&G post a core profit of 95 cents per share, beating the average analyst estimate of 91 cents. "PG's earnings quality is below its potential," BMO Capital Markets analysts wrote in a note.P&G's shares were up 3.5 percent at $80.03 in early afternoon trading on Friday.

Thank You!!!