WTF! P&G has applied to trademark millennial acronyms like LOL and NBD
It wasn't enough to let the acronyms remain in their place, in the text boxes, they soon be flapping away on the billboards.
Procter and Gamble has applied to trademark some of the common acronyms in text speak, such as LOL (Laugh Out Loud), WTF (What The Fuck), and NBD (No Big Deal), in order to extend the sale of their products to the younger generation.
P&G has registered the applications for the trademark on products that will be sold alongside some well-known brands such as Febreze, Fairy, and Mr. Clean, with the US Patent and Trademark Office in April.
The firm is looking at attracting millennials by putting to use the very language that millennials often use for text messages or online comments. Lifting some of the more popular slang and attaching them to regular household items might prove to be a good marketing strategy to bring aboard tech-savvy millennials.
According to the statistic portal, Statista, millennials are considered to be of high potential when it comes to consumer goods since their annual expenditure might sky-rocket from $600 billion in 2013 to $1.4 trillion by 2020, which is almost equals a third of total US retail expenditure. The change in strategy is probably the idea of the activist investor, Nelson Peltz, who joined the company's board in March.
Peltz told CNBC last September that millennials did not want a "one-size fits all" brand, but are more inclined towards consuming items of their personal choice. "Millennials want these little brands, these local brands that they have an emotional attachment to," he said.
However, as the application -- which was applied for in April -- is not yet approved, according to Ad Age, "other brands, which might have wished to adopt the terms, are now faced with FOMO (Fear of Missing Out)." It is as yet unclear what the company, which spent more than $7 billion on advertising in the fiscal year ending in June 2017, will do once the applications for the trademark are approved. According to Cincinnati Business Inquirer, WTF will probably be used as the social media shorthand for 'Why That's Febreze'.