SNHU Pet store is a 5-year company that has seen tremendous growth in recent years. Wanting to continue giving customers what they want SNHU Pet store wishes to target the health and fitness trend happening among consumers. The launch of a new organic pet food focuses in on a healthy lifestyle of fit and healthy pet owners. Pawganic is an all-natural, additive free cat and dog food for health conscious pet owners. Pet food should be memorable as well as state what the product is and who the product is targeting.
SNHU Pet Store requires a product overview to build a plan that will develop growth for Pawganic and produce more opportunity for the company. Pawganic is an outstanding product! In order to get this message out to the public SNHU Pet store needs to know the competitiveness of the product. In order to produce such an effect SHNU needs a SWOT analysis.
A SWOT analysis is a sort of internal and external audit to determine where strengths, weaknesses, opportunities, and threats lie. Strengths • All natural pet food • Money back guarantee Freshness guarantee • Upswing toward healthier lifestyle for pets Weaknesses • New product line • Higher price than competitor • Limited sales capabilities Opportunities • Ability to sell at other stores after 1 year • Available online • Large budget for promotions and advertising Threats • Several established and reputable organic pet foods • Competitor lower prices • Product expiration Money back guarantee is banking on customer satisfaction and loyalty. Customers tend to return to a place where they were treated justly.
New products that have financial guarantee can gain consumer loyalty for future purchases. The ability to sell only from our flagship stores and online is not a complete loss. The large advertisement budget reaps opportunity to push sales via coupons, pet store reward cards (if applicable), price matching, and instore sales for the Pawganic line will entice consumers. Developing a clientele amongst similar competitor products as well as highly advertised inexpensive products is the key dilemma.
Dividing the market into segments based on variables such as age, life stage, gender, income, education, religion, and ethnicity” is a good way to narrow the customer scope and attracting the right consumers to the right product (Armstrong & Kotler, 2015). The target markets are middle, upper middle, or higher earning individuals who are committed to a health alternative and the longevity of their pet’s life. This demographic crosses many ages, genders, lifestyles, ethnicities, and religions. Many people in this group, especially baby Boomer pet owners would spend more since they have more disposable income.
Middle class persons are health conscious however, if the product isn’t affordable they are less likely to become loyal consumers to a product. Geographically flooding advertisement to more walkable areas (as they tend to have more dogs) but maintaining a steady level across the country since the product is sold online. People want their pets to eat as healthy as they do. Many pets are considered family members and at times fur babies (pet children of enthusiastic pet owners).
As pet owners become more attentive to their pets needs the realization that a suitable diet is the foundation of a long life becomes adamant. Studies linking pet ownership to better physical and mental health have been popping up for decades. ” (Denoon, 2013) Aside from wanting to live a longer healthier lives, pet owners have an immediate need for affordability. “Baby Boomers account for an estimated 70 percent of the nation’s disposable income. They will continue to constitute a lucrative market for health and fitness products and just about everything else” (Armstrong & Kotler, 2015). Howe move toward retirement having a viable budget and maintaining health is prospected to be priority.
Marketing strategies for Pawganic pet foods would consist of soothing packaging with bold lettering with the ingredients and clear packaging for customers to inspect the product before purchasing. Seeing is believing for many people. The ability to conduct a quality check will entice customers to try the product after seeing the quality of the product for their own eyes. Selling the product in SNHU pet stores and small local stores will promote competition with larger pet box stores that many consumers would prefer to avoid.
The ability to place coupons for these limited locations to promote customer loyalty and increase word of mouth advertising while also maintaining price. Smaller specialty stores often have higher prices, but are expected. Lastly Pawganic will have a money back guarantee. Consumers will have the opportunity to return the product and say why they did not like it or why the pet did not and if the product had adverse effects toward their pet. The long term investment a money back guarantee will provide constant consumer input and future consumer trends to enrich customer relationships.
Although SNHU pet store has a large advertising and promotion budget contests, sweepstakes, and giveaways should be avoided. “When exploring new opportunities, tactics to quickly help grow an audience can fail. In doing so, many set their expectations too high assuming that giving something away for free will generate amazing results for their company. This isn’t always the case though. Many businesses run sweepstakes and contests with high hopes, but their promotions end up falling short of the expected outcome. ” (Massaro, 2014) However, that does not mean this form of promotion cannot be used in the future.
A marketing plan or product overview is vital for companies to develop products and services. Critical information includes knowing your target market, measuring your competitiveness and making your product standout in a gamut of pet foods toward gaining the prospect of making Pawganic a household name. Depriving your company of the proper knowledge can make or break potential investments. SNHU Pet Store Pawganic pet line has a unique opportunity to induce consumer loyalty. Setting a high standard in product brand by knowing what a pet owner wants and needs for their non-human family members will ensure the success of Pawganic.