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Procter & Gamble to Launch Bargain Tide

Photo by Joe Raedle/Getty Images(NEW YORK) -- Procter & Gamble Co. revealed plans Wednesday to launch a bargain version of its Tide detergent.

The lower-priced product will be called Tide Simply Clean and Fresh, and though discounted compared to the regular detergent, the new version will be priced slightly higher than other bargain brands.

Tide Simply Clean and Fresh is intended to compete with brands like Arm & Hammer and Purex, according to the Wall Street Journal.

It aims to be "very attractive to mid-tier customers but not very interesting to current regular Tide users," said chief executive A.G. Lafley.

The company will also launch a variety of laundry products in February, including upgraded versions of Tide.

P&G previously attempted to draw in consumers with a lower-priced powdered detergent called Tide Basic, but abandoned the effort after saying buyers had a hard time distinguishing between the versions.

Copyright 2013 ABC News Radio

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