Procter & Gamble is a 162-year-old fast moving consumer goods company that markets over 250 brands to nearly 5 billion consumers globally. It has annual net sales of $39 billion and markets baby care, beauty care, fabric and home care, food and beverage, health care, and tissue and towel brands. A strength is its product innovation and strong brand image across a diversified business structure, while threats include substitute cheaper brands, slowing consumer spending, and rising raw material costs.