P&G to cut prices in bid to boost market share

Posted by Editorial on 11th September 2009

Consumer products giant Procter & Gamble is expecting a rebound in sales in response to price cuts and the addition of new value sizes to their range.

The maker of Pringles will reportedly cut prices on around 10 per cent of their range to boost market share.

“We acted with urgency to protect the structural economics of our business last year, and we are acting with urgency this year to deliver profitable market share growth,” President and Chief Executive Officer, Bob McDonald, explained.

Chief Financial Officer Jon Moeller added that a turning point in the company’s sales had been reached and they were keen to capitalise.

“We clearly see that we are approaching an inflection point in P&G’s organic sales trends,” he told investors. “The innovations we are launching and the investments we are making are having an impact in the market. In addition, comparisons to prior year results will get easier as we move into the second quarter.”