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Toothpaste Market Essay Sample

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Toothpaste Market Essay Sample

Toothpaste in the United States is a massive market. Sales are estimated $3,133 million total market sales, consuming an average of 895,379,714 tubes per year. [8] Colgate- Palmolive (stock symbol (CL) is publicly traded on the New York Stock Exchange at $75

Colgate Toothpaste contributes
10% or $1.5 billion to the total value of Colgate-Palmolive. [3] With a penetration of 76.35%, almost 3/4 of the families in the United States have tried Colgate toothpaste at least once. [8] Based upon past and current Colgate toothpaste market share percentages, future market share can be expected to grow to record highs. At the current rate of increase, market share can be predicted to surpass the five-year benchmark high of 37.3% to a new record of 37.5% in 2011. [3] Colgate must maintain that leading position to ensure future growth over the next several years. Dips in market share have occurred in the recent past such as in 2008-2009. In order to maintain current consumers and attract new potential users, it is imperative that Colgate vitalizes new or existing appreciation among consumers for their toothpaste brands

Colgate Toothpaste Target Consumer Profile
The over all target consumer for Colgate’s many toothpastes are Black and Hispanic men/women aged 18-34 with a college education employed as professionals earning $75,000 or more. The target consumer is currently married with children, six years old or younger, living in homes worth $200,000-$499,000 in the top five media markets in the United States. [7], [8] 2006 2007 2008-2009 2010 Percent Change 2.00 1.96 -4.6 350.00% Market Share 35.30% 37.30% 32.70% 36.20% Percent Change Value $22,124,832 $22,124,833 $51,904,857 $37,676,156 Margin 18% 18% 18% 18% Total Market Value $1,106,241,637 $1,128,366,470 $1,076,461,612 $1,114,137,768

Colgate Toothpaste Overall Target Market
Colgate has so many products it becomes necessary to aim strategies at a limited target consumer. Based upon demographics supplied by MRI and Spectra, the target consumer of Colgate is categorized as “younger bustling family” living within the mid-scale suburban mix community. The target’s life is centered on his/her family. The target earns for there household, while balancing interests and pursuits. Media selection, outdoor activities and neighborhood selection all mirror a family centric target. The consumer lives in the midscale suburban mix placing the target in the middle of the socioeconomic ladder. The midscale suburban mix can be characterized by residents that earning a living in blue-collar jobs and live in older, modest homes in ethnically diversity areas.[8

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