P&G's Marc Pritchard Talks about the Power of Purpose when Building Brands for Today’s World
ANA Masters of Marketing Annual Conference, Orlando, Florida--October 14, 2010
Marc Pritchard, Global Marketing Officer at The Procter & Gamble Company, opened the ANA Masters of Marketing Conference to the pulsing sounds of U2 by welcoming 1500 delegates to "The Wonderful World of Vertigo." Despite the dizzying overstimulation of our 24/7 world, Pritchard called for a re-invention of marketing: "To thrive in today's world, we have to shift from selling products to improving life."
He emphasized that this is one of the most exciting time in our industry. Smart marketers can harness innovation as a force for good. And P&G is finding that what's good for consumers is also good for business.
Pritchard calls this "the inspirational power of purpose" and discussed how each P&G brand is defining its purpose to find those deep human insights that touch lives and improve life. This means a fundamental change from simply marketing to consumers to serving people. It also requires Big Ideas that are surprising and engaging enough to encourage participation in the world of a brand.
In fact, P&G is using this philosophy to actually help young women stay in school in markets like Kenya and Nigeria where lack of education about sanitary protection keeps them away from classes. The company's "Stay Happy" campaign and case study for Always captured how their mission to "improve life" has already made a significant difference to young women's comfort and their potential to receive an uninterrupted education.
Procter & Gamble expects to serve 1 billion more customers in the next 5 years given the benefits of this fundamental insight, combined with the rising prosperity in many of the world's fast-growth markets like India, China and Brazil.
Marc Pritchard also discussed how the company's first corporate campaign at the Vancouver Olympics--an homage to mothers "who are the unsung heroes of the Olympics and life itself"--will continue. ";P&G- Proud Sponsor of Moms" will not only expand to new markets, but become a staple of upcoming Olympic Games. The company has signed on for a 10-year sponsorship which starts with the London Games.
According to Pritchard, the corporate ads had a halo effect on all of the brands. "It's key in an age of cynicism and distrust of big institutions." Procter & Gamble's effort to help 250 moms get to the Olympics and then create a "family home" for athletes and their families resulted in $130 million in incremental sales. The Big Idea of "Celebrating Moms" also caused P&G's company perception to jump by 10 points.
Who says doing good isn't good for business?
