Every afternoon join me for CLOCK WATCHER TRIVIA. At 4pm each day I give you a new question to ponder. If you are the first to correctly answer it, you can win! And it's great fun, as you wait for quitting time to roll around. Missed a question? Want to find out who won? You can get that here: 987theriver.com/pages/trivia.html
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Procter & Gamble is talking to retailers about plans for a new bargain version of its flagship Tide laundry detergent. One person said the product may be a liquid detergent called Tide Simple, a name P&G considered when it tried a low-price Tide several years ago. It would be priced just above rival bargain brands, such as Arm & Hammer. P&G leads the North American laundry detergent market, but it is weak in the growing slice of budget soaps. Their decision to offer a lower-priced version of the premium brand carries the risk that buyers of regular Tide could trade down and stay there. 3 years ago they scrapped a lower-priced powdered detergent called Tide Basic, which was tested for about a year saying consumers were having a hard time distinguishing between the bargain version and the regular priced variety. The company's concern was that regular Tide users would trade down to Tide Basic, for instance, but be unhappy that it didn't clean as well as regular Tide. The CEO of Proctor & Gamble notes that 41% of us are buying value-priced laundry brands, while just 29% were buying premium brands,such as Tide which is among the most expensive detergemts on the market. Interestingly, the budget and store brand detergents is the only segment of the liquid laundry detergent category that has grown to 29.2% from 25.9% while premium and mid-tier brands, lost market share. A lower-priced Tide would compete against not just Arm & Hammer, and other budget brands, such as Purex, but also private-label detergents, which already ring up good margins for retailers. P&G is the leader in the North American laundry detergent market with more than $4.5 billion in annual sales. One of the company's most successful new products in years has been Tide Pods, launched in early 2012, which packs the detergent into pre-dosed capsules that cost more than regular Tide liquid. But P&G's low-end Era detergent has yet to make much of a dent in the lower end of products which is dominated by Arm & Hammer.
(Information comes from Wall Street Journal)