Procter and Gamble successfully implemented a turnaround strategy by discontinuing brands and focusing all resources on a few core brands.

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Most mature or declining firms have many product lines that are losing money or are only marginally profitable. One strategy is to discontinue such product lines and focus all resources on a few core profitable areas. For example, in 2014, Procter and Gamble announced that it would sell off or close down up to 100 of its brands, allowing the firm to improve its efficiency and its innovativeness as it focused on its core brands. The remaining 70 to 80 core brands accounted for 90 percent of total company sales.

Procter and Gamble Successfully Implemented a Turnaround Strategy by Discontinuing