MEETING CUSTOMER NEEDS

Meeting Customer Needs

Meeting Customer Needs

Introduction

Reckitt Benckiser is a renowned name in the consumer goods industry of the world. Reckitt Benckiser was formed with the merger of Britain's Reckitt & Colman and Benckiser of the Netherlands in December 1999. The new Reckitt Benckiser is the world's largest household and cleaning Product Company (excluding laundry detergents). Reckitt Benckiser sells its products in 180 countries and has operations in over 50 countries. (Brassington, 2003)

Meeting Customer Needs

In this project we have discussed about the various aspects Reckitt Benckiser, Bangladesh. In Bangladesh Reckitt Benckiser has created a good market for its products. It has created a good brand image and a group of loyal customers. We have conducted interviews with some fellow employers of Reckitt Benckiser and from those we can say that there are three a principle followed by Reckitt Benckiser such as the symbol of quality that refers continuous improvement, customer satisfaction and the last one is a responsible citizen of the world. To the customer, the company provides branded quality products with superior value that improves the quality of their lives (Brassington, 2003)

Company History

Now let me briefly discuss about the history of Reckitt Benckiser. On 1814 Jeremiah Colman begins milling flour and mustard in Norwich, UK. It was diversified mid-century into starch, wheat flour and laundry blue. Benckiser was founded by Johann A. Benckiser who was a Core business that had been derived from industrial chemicals. (Drummond, 2004) Isaak Reckitt rents, and then subsequently (in 1848) buys a starch mill in hull. A joint venture company had been set up in South America between Reckitt & sons and J&J Colman - AtlantisLtd.

Reckitt in Bangladesh

In Bangladesh it is like a Corporation (public limited company). The company was incorporate on 15th of April 1961 in then East Pakistan. Its shares are enlisted in the Dhaka and Chittagong stock exchange. The corporate office was shifted to Dhaka from Chittagong on 2nd December 2001. The company is registered in Bangladesh with Government holding 20.8% of its shares. The rest owned by the parent company Reckitt Benckiser Plc, UK and a government investment corporation called Investment Corporation Bangladesh (ICB). Reckitt Benckiser is established under laws of Bangladesh and has its own Board of Directors. The board also has representatives from the government. Reckitt Benckiser has a vast line of products and only few of those are manufactured in Bangladesh. The day to day affairs are carried out under supervision and direction of the company's management committee. (Doyle, 2002)

Financial Analysis

Reckitt Benckiser had a strong first half of 2003 with net revenue and net income growth running ahead. Growth has come from practically all categories and regions. In Western Europe growth behind new initiative was particularly robust resulting in strong profit growth. Recently the emerging markets of Asia are recovering. Net turnover of the company grew by 15% to 555 million in 2003. The major improvement was driven by 19% growth in household business, comprising of leading brands like Harpic and ...