Procter & Gamble executives revealed their strategies for delivering topline growth and creating value forshareholders. A big part of these efforts will come in the form of new product innovation.
"We are expanding our product lines up and down our brands," said CEO Bob McDonald last week at the at the Consumer Analyst Group of New York conference in Boca Raton, FL.
Probably the most significant introduction is new Pampers with DryMax technology, a new diaper design being launched through the Swaddlers and Cruisers premium lines that is 20% thinner than previous generations without sacrificing performance. These new diapers, described as the driest diaper ever, will begin rolling out to North American customers in mid-March.
Other baby care launches include Underjams overnight disposable diapers in the U.K., Austria, Switzerland, Belgium and Germany; an extension of the value-priced Pampers Simply Dry in Spain and the continuation of the Pampers Sleep 'N Play brand in the Middle East.
Meanwhile, in feminine hygiene, Procter has introduced a lower-priced Always Simply Fits line in Western Europe, seeking to attract new users to the brand who have aspired to use Always but previously found it unaffordable. In Asia, the new Naturella brand provides excellent performance for Chinese women who shop in the value tier.
"The thread that runs through every element of our strategy is innovation," Mr. McDonald told analysts.
Beyond new product development, Procter's new purpose-inspired growth strategy is helping it operate as a single company that complete against many. This new strategy was best illustrated through the company's Olympics advertising program, which promoted all 18 of its brands as one.