Procter & Gamble (P&G) partnered with Frankfurt School (FS) to continue providing practical business experience to current FS Master in Management (MiM) students. The aim was to develop a strategy to expand the current hairstyling portfolio of Pantene Pro-V within the German market.
The project was structured for a P&G delegation, Mr Alexander Zwetz and Mr Thomas Adler from the P&G sales division, to introduce the current Pantene Pro-V product range and respective marketing strategy. Together with us as FS students, the goal was to introduce an additional Pantene Pro-V hairstyling product to the existing range. Any realistic market approaches were welcomed.
As an FS Team, we took a deep dive into the current Pantene Pro-V product range, based on the internal P&G data that was provided. With the help of our marketing lecturer, Dr Britta Meinert, we performed a global market screening to develop a wide range of potential products, which are currently not part of the German market. The toughest challenge was to decide on a perfectly suited product to be examined. Therefore, based on various discussions and analyses, we developed a shortlist of products suitable for P&G. Once we pinpointed the most applicable product in terms of market potential and financial feasibility, a marketing and launch strategy was drafted based on market segmentation and price value positioning. We also came up with a budget that we proposed during the final presentation. After two weeks of intensive research, strategy sessions and calculations, the final outcome resulted in a well-planned product tailored to the German market which we presented to P&G and Dr Meinert.
The overall experience was an incredible team effort on all ends. Despite the current COVID limitations, Dr Meinert, the P&G team (Mr Zwetz and Mr Adler) and we as the FS team managed to exchange thoughts and come together continuously (even though mostly virtually). The P&G team was highly motivating and insightful, whilst we as the FS team were an intercultural mix of students who all worked well together with the joint goal of creating incremental value. The hybrid system implemented at FS allowed for flexibility and was mutually beneficial for those who couldn’t participate in classes on-campus due to the pandemic, and those who were present for classes and lecturers alike.
Our class is highly thankful for the first-hand experience with P&G and corporate culture, the honest and constructive feedback during the presentation, as well as the new knowledge gained through a live business project. Many thanks to everyone involved, and we are excited to see the products presented by the different teams on retail shelves soon.