Step 1-2:
I applied online (pg.taleo.net) for this intern position (ACM) and did two online multiple choice test (2 parts). The first was the Success Drivers Assessment. There were lots of questions, mostly behavioral/situational testing if you are a good fit for them. If you have a good knowledge of P&G's corporate culture, mission and values, it should be rather easy. Remember to adapt your answers to what P&G is potentially looking. And despite there not being a time limit try to do it as fast as you can, i.e. do not take three hours. The second test was a logic test (Reasoning Screen, 15 questions, 2.5 minutes/question). The test starts with easy questions, then since they use adaptive testing the questions will become increasingly difficult until you answer wrong, in which case they will give you a slightly easier one and so on until they have found more or less your score. With this type of test you can also create an approximate idea on how many questions you answered right. Of course you don't need to have every answer right in order to pass, it is actually very difficult to have 15 straight correct answers. You can also practice by using P&G's practice tests.
Step 3.1 and 3.2:
I received a phone call 2 days later by someone from the HR team. he informed they were interested, asked me a few questions and asked for my availability on a specific date 'a few days later) for a recruiting session.
On D-Day we were between 12 and 14 in the room for the In-Person Reasoning Test. I found it a bit harder than the Online test and the Practice test offered by P&G on their site. Maybe because of its length. I still managed to finish it though and after exchanging with some of the other candidates I found out that most of them had not managed to finish it. So my advice to you is to go as fast as you can and don't spend too much time on a single question. After that we all made it to the next phase except 2 candidates who were sent home. They gave us time to eat before the first round of interviews.
During the initial interview, I was interviewed by 2 P&G Managers, one who worked mostly on-field and the other who spent more time in her office (but maybe this is particular for the Category Manager Position). I was expecting another type interview in all fairness, one that would be 'more guided' with precise questions, but since the beginning they asked me to describe myself, my academic and professional background, so they caught me off-guard but I kept on improving as time went-on. (Another particular point that I need to mention is that one of them was a graduate from my Grande Ecole and the other from the same city as my school so I really don't think it was fortuitous.)
In the end they told me I passed the initial interview, gave me very good feedback, confirming some of my doubts in the process, and told me I would meet with a SVP (telling me how important it was to treat him with the highest respect!). I was also told that around 300 people had applied for the position.
Step 4: For the final interview it came to me and another male candidate. I was interviewed by a SVP very soon after and to my surprise (or not!) he started the interview in one of the foreign languages on my CV, neither French, nor English. As for the rest of interview, it went rather good and I was very confident after.
I received a negative answer 2 days later, without much feedback nor explanations as why. But I think one of the reasons might have been that I got too familiar with the SVP at one point when talking about sports (since we had the same passions) and spent more time talking about sports than actual sales and marketing. So despite the interview itself going great, be very careful about this in the future. Do not make the same mistake; you are there for the job and nothing else.
To conclude the process isn't very difficult in itself, although rather long and tedious. It becomes difficult because of the high number of candidates for very few openings.
And don't forget in the end, they don't select the best candidate, rather the best fit for their enterprise. Be prepared next time. Hope this helps :)