[Institution’s Name]
Background
The Colgate Palmolive Company (CPC) is basically an American based multinational consumer Products Company which have a focused on the production, marketing and distributing of households, healthcare and personal products including detergent, soaps and oral hygienic products in particular. The product line of the company including toothpaste and tooth brushes as well. The company has its headquartering located in New York City (NYC), United States.
The brand of Colgate list down in 10 most valuable brands of the world and it is one of those companies which had a perfect tract record in terms of increasing the efficacy of the company in particular. William Colgate is known as the founder of the company, who founded it in the year 1806. The products of Palmolive are extremely valuable among the consumers throughout the world. The shares of the company is effectively trading in the New York Stock Exchange (NYSE) and it is one of the most highly effective shares traded in NYSE and external investors are very much behind the same brand. The key products of the company are Personal Care and Tooth Pastes.
Colgate Palmolive earned net revenue amounting to US$ 17.085 billion in the year 2012 with net income provision of US$ 2.47 billion in the same year with total employee’s based provision of 37,000. Total assets provisions of the company amounting to US$ 13.394 billion in the same year which is again a positive and perfect sign from the standpoint of the company in particular.
The main perspective of this assignment is to answer four different questions pertain to a certain case study. The case study is all about the Colgate Palmolive. Let’s now move towards the answers of the questions
- Type of Data Used and Type of Decision take by Colgate Palmolive
Colgate Palmolive is a big company which has its operations in more than 20 countries of the world. According to the case study, the company started to expand in international market after the year 1930. The type of data used by the selected company before entering in the region is the consumer inclination towards the similar or somewhat homogenous products (Fisk, 2006). Apart from this data, data of companies which have the same line of products would also been taken into consideration by the company. All of the data has been articulated and managed according to the software of SAP and its related implementation. According to the case, the company strengthened their roots in major parts of the world with the same strategy and it is in the phase of continuous development and expansion as well, in order to compete with the organizations which are operating like the same. The decision which could be taken into account with the same data is all about the gap in the market regarding the product and its future economic and strategic consequences.
- Importance of Integration of Data for Colgate Palmolive
Before the development and expansion of the company, the company had so many competitors from which they had to compete in order to have their own goodwill in the market (Kotler, 2008). According to the case study, it is important for Colgate Palmolive to have such a platform from which they can manipulate the data of the consumers and the companies selling similar products and for the same purpose, the company used SAP based software, one of the most reliable and widely used data management tool used by the companies in the current times.
- Business benefits for Colgate Palmolive with the Data
Inevitably, every organization strives hard for the economic prosperity and business expansion (Kotler, 2008). Likewise other companies, Colgate Palmolive got certain advantage with the help of getting and managing the data. The basic benefit found with the help of data accumulation is getting the idea of the market as well as of the consumers’ lies in the market. The data enables the selected company to respond accordingly with a perfect promotional based strategy accordingly and effectively at the same time. The data enables Colgate Palmolive to increase their recognition towards the investment and the company spent 100 million US$ in the promotional based activities of the company. Return on Investment and Sales of Colgate Palmolive showed a steeper graph after entering in these regions with strong strategies.
- Business Knowledge Should Have by the Manager
A manager is a person in-charge of managing the operations of a company or a specific department (Honey & Mumford, 2006). A manager must have effective skills and in-depth knowledge regarding different provisions in order to cope up with any sort of issues pertains to the company operations. When it comes to Colgate Palmolive Case, then the manager should have strong command over Feasibility Analysis, Risk Management and articulating of data skills in order to analyze the data with perfection. According to the given case, the company had effective managers which are more than essential for them to compete with other peer companies. This strategy of Colgate Palmolive went extremely effective for the company in the past and will remain in the same jurisdiction for a long span of time.
Reference List
Fisk, P (2006), Strategic Management: An Introductory Review, John Wily & Sons Professional Publications
Kotler, P (2008), Marketing Management for Organisations, Prentice Hall Publications
Honey, P. & Mumford, A. (2006), Marketing Management Concepts, Peter Honey Publications
