Procter & Gamble (P&G) is a multinational consumer goods company that has a long history of conducting market research in order to understand consumer needs and preferences, as well as to identify opportunities for product development and innovation. This market research helps P&G to stay competitive in a constantly evolving market and to provide products that meet the needs and expectations of its customers.
One of the key ways that P&G conducts market research is through consumer surveys. These surveys may be conducted online, by phone, or in person, and are designed to gather information about consumer attitudes, behaviors, and preferences. P&G may also use focus groups, in which a small group of consumers are brought together to discuss and provide feedback on specific products or concepts.
In addition to traditional methods of market research, P&G has also embraced new technologies such as artificial intelligence and machine learning to gain insights into consumer behavior. For example, the company has developed a tool called "Navi," which uses machine learning to analyze data from social media, search engines, and other sources in order to understand consumer sentiment and predict trends.
P&G also works closely with its retail partners to gather market research data. By analyzing sales data and other information from stores, P&G can gain a better understanding of how its products are performing in the market and make adjustments as needed.
Overall, P&G's market research efforts are aimed at ensuring that the company is meeting the needs and expectations of its consumers. By continuously gathering and analyzing data from a variety of sources, P&G is able to stay ahead of trends and provide products that are relevant, innovative, and high-quality.