Almost in every home there exists a pet. The pet industry is able to generate an income of $20 billion annually. Most of the people who own pets are more concerned with the nutrition of their pets which is attained through the purchase of the pets food. The expenditure that mainly goes to meet the pets needs is in most cases more as compared to the expenses that the owners of the pets spends on themselves. This paper is composed of a product review of the Wishbone Pet Products. This products are primarily used by the people who own dogs. There is an approximate number of 59 million dogs in the united states which are treated as pets. This opens a lot of opportunity for the pet owner.
The dog products mainy differs according to the age of the dog. An increase in the age of an animal increases the level of spending on such an animal. Most of the people with a pet at home incude the married couples especially those without children. The marketing strategy for the company is dividing its customer into segments (Bertelsen, 2012). The main target group includes the middle aged ladies as this group is the largets and the most wealthy. The demand for the pest products is high for this segment. The demand for the pet food increases with increase in the human population. the aging population is also finding comfort with their pets and thus this is also another target area that a dog owner should look out for. The dogs owners purchase products that would be of nutritional benefits to their dogs.
The other challenge that the dogs owners face is related to cleaning up the dogs. Some of the other products that the company offers include toys for cats, leashes and collar for cats, clean up products for pet waste, habitants and cages for the pets. The recent trend is that the dogs are mainly chosen as a form of companionship. Since the market is fragmented, it is possible for the new forms and products to penetrate the market and compete fairly. The products are usually stocked in superstores. The other markets where the pet products sells include the discount shops, supermarkets and the internet retailers.
SWOT analysis involves the determination of the strengths, weaknesses, opportunities and threats. The company strengths provide high quality pets foods. The company has also been able to establish a strong market reputation in the industry. The company is also able to produce foods to meet the clients’ needs. The company has also been able to maintain a strong positive image as having contributed greately to the pets community (Ferrell & Hartline, 2014). The major limitation for the company is that its facilities can not be able to make production meet the market demand for the pets food. The company management also lacks adequate knowledge with regards to the production and exportation requirements. The pricing strategy used by the company is inflexible.
The company however have some opportunities for development which include an increase in the number of pet keepers who must purchase the dog meals. Most of these people are affluent which makes the venture a flexible and reliable business venture. They also treat the pet dogs as part of their families and this can be used to enhance its brand loyalty. The threats that the company is facing is that the consumers are increasingly becoming price sensitive where they now opt to spend less of pet’s foods. There are other pet keepers who feed their pet with the foods that they prepare in their home.
The goal of any company is to make sales. This requires the company honours to have the 4Ps which includes the price, place, promotion and product. The company must offer the products at favorable process and the right places. The marketing and promotional strategy must be market oriented and the products must be able to meet the client’s needs.
Bertelsen, B. (2012). Everything you need to know about SWOT analysis. Newmarket, Ont.: BrainMass Inc.
Ferrell, O. C., & Hartline, M. D. (2014). Marketing strategy: Text and cases. Mason, OH: South-Western/Cengage Learning.