Threats and Opportunities of Colgate Company Coursework

Threats and Opportunities of Colgate Company - Coursework Example Colgate Company has managed to deal with the pressure of the external environment over time and this is attributed to the fact that the company has managed to stay alive in the market for the many years that it has. It was founded in 1880 and has continued to serve the world over the years. The company has had its fair share of Threats and Opportunities. It has handled its threats quite well to be able to survive to date. It has also seized all its opportunities quite effectively and hence survived in the market. One of the major opportunities that Colgate seized quite effectively is the huge market base that was unexploited. Any the time Colgate company was being coined in 1880, the world had seen very little of the oral health production industry. The world is such a wide base and in all corners of the world are individuals who have teeth that they need to take care of. Colgate Company took full advantage of this fact and set up its roots in all corners of the world. A vast unexplored market is a great opportunity for any business venture that needs to be exploited effectively. Colgate Company took full advantage of this great Opportunity that was naturally presented to it by the external environment. It employed great marketing strategies that hugely popularized its brand name Colgate. In fact, in several countries across the world, the brand name Colgate is used synonymously with the word toothpaste. One great threat that was presented by the external environment to Colgate Company is stiff competition from new coming products in the oral health industry. There are very many products that have been introduced in the industry in the resent days which have posed a great challenge to the survival of the firm. Some of these products are geared towards herbal medicine. Such products managed to convince several consumers in the market as it assured them of proper oral health care in a manner that is strictly natural and hence had no side effects absolutely. This painted the wrong impression that the products from Colgate Company were harmful to the health of the consumers as it used mainly synthetic chemical products. With the development of health concerns regarding Cancer and other lethal ailments in the world which are associated with chemical products, this posed a huge threat to the existence of Colgate Company. The company had to devise a mechanism quickly to deal with this threa t. To deal with the threat of the introduction of purportedly herbal and natural products in the oral health industry, Colgate Company came up with an ingenious idea. It made full use of its brand name popularity and introduced its own herbal products. It also introduced a whole range of contemporary and competitive products which cushioned off the external threats. The Company introduced such products as Colgate Triple action, Colgate Whitening among others. These were geared towards luring consumers to concentrate on certain effects in particular rather than the whole oral health in one package. Colgate whitening for instance was geared towards giving the consumers extra white teeth and whoever went for it would be guaranteed getting their teeth whiter than ever before. Tis gave the products of the firm a different dimension. They became less of just general oral products but more of products that are bought to fix certain specific oral concerns. With this strategy, the firm was a ble to beat hands down the threats that were posed by