Procter & Gamble to roll out cheaper version of Tide

NEW YORK - Procter & Gamble will introduce a lower-priced version of Tide in 2014, a liquid detergent called "Tide Simply Clean and Fresh," as it seeks to attract shoppers on a budget.

P&G, the world's largest consumer product maker, is known for its premium products like Tide and Bounty that cost more than competitors but are perceived by customers to be of higher quality.

But as growth in developed markets has slowed and P&G expands in emerging markets, the company has been working to become more balanced in its offerings, with more goods at both the low and high end of the price spectrum.

P&G CEO A.G. Lafley said Wednesday that Tide Simply Clean and Fresh is one of a number of new detergent products P&G plans to introduce in February 2014.

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