Proctor and Gamble or P&G is the worlds biggest consumer goods company, it was founded back in 1837 and is headquartered in Cincinnati, Ohio. The company has a portfolio of popular products like Febreze, Always, Ariel, Gillette, Crest, Pantene, and many more. In August 2014, P&G started resturcuring by dropping and selling around 100 brands that have been loosing 3% of annual sales from 2011–2014 (like Pringles, Clairol, Lindor, and many more.) P&G said their core brands (roughly 65) generated around 90 percent of sales and more than 95 percent of profit over 2011–2014. “Less will be much more,” Chief Executive A.G. Lafley said.
Now, P&G is trying to trademark popular slang to sound more hip to attract millennial shoppers. Some examples of these phrases are LOL (laughing out loud), NBD (no big deal) and other less family friendly acronyms like WTF and FML. The company hopes to apply these to a range of their products like liquid soap or air freshners, according to CNBC. Although the CEO David Taylor believes that the company does well with millennials, Nelson Peltz, a board member since march disagrees and is criticizing the company for not keeping up with new and changing preferences. Last year, P&G acquired a couple of brands (like native deodorant) that are more attractive to millennials.
The only question that stands to be answered is if these slogans attract millennials? P&G has been in the business for a really long time for a reason, and their track record can not be doubted, but I do not believe that trademarking these acronyms and using them on their products will attract many new customers. One way that I can see P&G benefiting is if they can license the trademarks to other companies that may use them, but that would hurt the exclussitivity of using these slogans on their products.