Product Launch Marketing Plan Paper Part 2 Dannielle Dunagan, Phikoun Khamchanh, Martha Miller, Kariecia Nathaniel, Ivan Rodriguez and Chris Zukoski MKT/571 April 25, 2016 Patricia Girardi The idea of pet insurance is a concept in which a target market has to be understood. In this paper we will look at the key buying behaviors and discuss the motivators for the consumer in this target market both domestically and internationally. We will also look at the life cycle; tactical planning, pricing strategy and the product mix in terms of competitors and / or substitute products. Let’s first look at the target market. Target Market As the market continues to stay strong home ownership increases the need for pet insurance will increase. As …show more content…
The average income will be between 45-60k. These groups are outdoors driven and love to take their pets with them on nature hikes, bike rides and open trails. As these individuals will often be outdoors they will want to keep their pets in tip top shape and will want to be covered should a unforeseen medical issue arises that can range from points oak, lime disease to le fracture. Overall both groups have a passion for their pets and when it comes to pampering tem there is no price limit attached. However they want to be safe and have a sense of security that their fur babies are covered for the inevitable. When it comes to the retail side we our strategy will be focused on local veteran clinic were our consumers reside. We will market toward local clinics that want the best for their customer and are focused on customer service for both their animal and human customers. We will stay away from big box chain clinic and strictly focus on local shops as they will have a will know local brand with a dedicate customer based. Detail the Steps Involved in a New Product/Service Development New product development is crucial for a business to succeed. Firms that decide to introduce a new product to market must create a product-development strategy. The new offering of a product involves the same steps, but it will also depend on the size of the company and the type of product to decide if the product testing will be necessary before launching to market. The new
Several strengths exist in operating a mobile grooming service. The strengths are that PetSmart will go to the home or office of the customer saving them time. The environment is less stressful for the client and the pet because the pet will be in a familiar place. The service is perfect for senior pets along with being a sanitary, safe and healthy environment. PetSmart also offers weekend appointments for all customers and potential customers. Since a representative from the company goes to the client the pets have no exposure to other animals, disease or parasites. The company offers evening and weekend appointments and customers never have to be troubled with the pet having car sickness or even having to put their pet in a cage. A weakness
Demographics for a pet day care/grooming/spa are very diverse. Adults from the age of 18 to 100 could have pets and need this service. This applies to adults from every race, religion, and sex. Since this service is possibly needed or wanted by so many people, it makes this a high demand service. According to American Veterinary Medical Association, “43, 346,000 people have dogs in their household in the U.S., that’s 36.5%” (AVMA, 2016). That number is very close for cats as well. AVMA states “36,117,000 people have cats in their household in the U.S. and that is 30.4%” (AVMA, 2016). These numbers are totaled by household, not by how many pets they have per household. Therefore these numbers increase when you consider the fact that most people have more than one pet. “The AVMA also states that average number of dogs per household is 1.6; therefore the total number of dogs living in households in the U.S. is 69,926,000” (AVMA, 2016). As for cats the number increases even more. (AVMA, 2016) “The average number of cats per household is 2.1, therefore the total number of cats living in households is 74, 059,000, per AVMA” (AMVA, 2016).
Many pet owners underestimate the cost and responsibilities of owning a pet. Many pets are in unhealthy environments because people aren’t doing research on what their
This paper will provide in detail researched information regarding marketing plan as it relates to the Mammography Cup. Ideas and information consists of the segmentation criteria, target market, organization buyers and consumers, factors that influence purchasing decisions, and the current competition.
Fisher Price produced a new product to teach children how to tie shoes. In this paper, there is information about who Fisher Price is a description of the new product, their marketing mix method and a SWOTT analysis of the product.
One of the primary questions that pet owners ask these days is whether they should get their pets insurance or not. Well the answer to that question really depends on you, are you effectively taking care of your pet? Do you make sure that it does not consume things that it should be eating in the first place? Are you making sure that your dog is not getting into scuffles with other dogs in the neighborhood? These are just some of the questions that you need to answer before you can decide on weather you should buy insurance for pet or not. The main reason being that the above mentioned are just some of the reasons why pets wind up on the vets operating table in the first place. I mean we've all heard of that one scenario where you and your
“Dog grooming and washing businesses indicate a firm increase even despite poor economic outlook. This is due to the fact that customers have more disposable income to spend on their dogs as they are considered part of the family”(ProfitableVenture.com - 2016). In addition research has shown that since the mobile dog washing and grooming businesses are small operating businesses, they had a higher market share than established businesses and franchises due to the fact that small businesses are tailored made for immediate localities and neighbourhoods, clients seek to use services provided by near people living around as they believe that those ones are more likely to provide a personalised care to their dog. This service may also be popular amongst clients who are too busy to shuttle their pets back and forth. Pets may feel less anxious about grooming in their own homes, which would ease the job of the groomer. Note that due to traveling time, a mobile service business will have potentially fewer clients than a commercial service business in any given day.
Combined sales of large pet store chains PetSmart (including Canadian revenues) and Petco closed in on US$12 billion in 2015. The two companies share a number of similarities: their targeting of pet parents, their dual focus on national (and especially natural) brands and private labels, their emphasis on higher-margin products and services, and their leading e-commerce websites (The Success, June 2016). Furry-Mart will build on the foundation that these two leaders in the industry today. Neither PetSmart nor Petco offer all the services that Furry-Mart will provide (adoption, boarding and grooming, etc.). Furry-Mart will set itself apart by taking advantage of all these categories and ensuring they are the one stop shop for all our pet
The owners of the businesses could have experienced having buyers want to return the pets they bought. I could also find out exactly how much it costs to buy a certain pet, and where the pets come from. If I cannot reach out to an online business I will make a survey or poll in which I ask for the public’s opinion on my
In this manner, you be required to guarantee that your vet has the right level of spread in the occasion of a crisis. Putting resources into pet insurance can hence can give you a genuine feelings of serenity that whatever your fuzzy companions settles on doing, he/she will be secured if tragically they'd need a treatment from a mishap, sickness or a genuine harm.
Some of the trends in pet grooming and boarding in regards to technology include internet sales, robotic pet sitters with cameras, interactive technology, applications, and many more. Technology not only creates new products for retail companies to sell, but also plays a major role in changing the way retail companies do business. There are trends in the retail industry in general that allow businesses to develop new processes that increase efficiency with computerized sales and data analysis to easily access and manipulate information for innovative research purposes.
This paper will give you an overview about Pet Paw Photography Company, our location, and the service that we offer, our company’s mission and values that all of our employees are expected to follow and display daily. Pet paws marketing plan and how we plan on implementing these planning strategies to gain more customers and expand our business. How we plan to meet our short-term and long term goals for our business, through marketing mix, target marketing, pricing strategies, demographics, and technology in order to increase our cliental and remain competitive while meeting our long term goal and increasing overall
Domestic pets have been around for centuries and they continue to squeeze their way into the hearts of thousands monthly. Organizations like PetSmart aim to provide pet owners with all stages of life products for their loved four-legged babies. Their vision states “we love pets, and we believe pets make us better people” (PetSmart.com, n.d., Para 1). Pets are family and PetSmart ensures that they can offer everything essential to a healthy life for their pet including medical(in most PetSmarts), hygiene care through their grooming department, training at various skill levels and even adoption centers and events to help homeless animals find a new family. PetSmart, originally name PetFood Warehouse, opened its first two store in 1987. PETsMART’s name changed in 1988 while welcoming grooming salons and exotic animal departments into the business. In 1992 the company welcomed veterinary medicine into their stores and began creating adoption centers for rescue animals. PetSmart became PetSmart in 2005 when the organization wanted to break away from the company being a mart and lean more toward smart innovations. The organization continued to grow adding in training and pet hotels to their organizational plans along with partnering with other organizations such as Martha Stewart. The organization, since the beginning, now offers domestic pet products for pets of all sizes along with grooming, training, veterinary hospitals and boarding facilities all
Product development is the process of designing, creating and marketing new products or services to benefit customers (TechTarget, 2015). Sometimes product development are known as new product development, the main focus is on the developing systematic methods for guiding all the processes involved in getting a new product to market. These processes start from brainstorming idea on product; research on product; develop the product; testing; analysis; and lastly is introduce the product on market.
Product development involved modification of an existing product or its presentation, or formulation of an entirely new product that satisfies a newly defined customer wants or market niche.There are two parallel paths involved in the product development process, one involves the idea generation, product design and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new product within the overall strategic process of product life cycle management