There has been a tremendous amount of growth at our SNHU Pet Supply Store and we must keep up with popular demand. In order to keep up with the popularity we have decided to launch a new pet food product, this will keep us at the front of the competition. This pet food is going to be one of a kind because it will be made from all natural ingredients, which is ultimately better for pets. This new launched pet food product will be called “Chopped Choice” and as you continue reading we will discuss it's identified target market. I am the head marketing director for this SNHU Pet Supply store, I will have to take the following factors into consideration when launching the pet food such as; demographic, psychographic and geographic traits of my potential customers.
Starting off with demographic, income is ultimately one of the most important aspects of selling a product. Knowing your target audience's income is important because it will allow me to understand what price range is acceptable. With this product being all natural ingredients, it also won't be the cheapest pet food on the market but instead be the healthiest. With healthy ingredients, comes higher pricing in any form of food you purchase either for humans or pets. According to statistics, the top age bracket is 45 to 54 years old, which is responsible for making up the top 26% percentage (Statista, 2017). The next age bracket making up the second highest percentage is 55 to 64 years old according to the Statistics Portal (Statista, 2017). This tells me that although each age range has a percentage towards the pet store market, ultimately the older age ranges rank highest.
Next topic to discuss is geographical location; there should be a high pet population. A study in 2012 listed the top ten pet-owning states by the percentage of households that owned a pet such as; Vermont at 70.8 percent (1st), New Mexico 67.6 percent (2nd), South Dakota 65.6 percent (3rd), Oregon at 63.6 percent (4th), Maine 62.9 percent (5th), Washington 62.7 percent (6th), Arkansas 62.4 percent (7th), West Virginia 62.1 percent (8th), Idaho 62 percent (9th) and Wyoming 61.8 percent at (10th) place (“Dogtime”, 2011). Since “Chopped Choice” is an all-natural pet food, which emphasizes on high quality and health, targeting health conscious areas in addition to pet owning states is important. Those health conscious places will be key places to target since Chopped Choice is a healthy based pet food with grain free ingredients. Those who want healthiness for themselves also want it for their pets. It's also important to understand how much money people are already spending for things such as mortgages. This will help me to identify how likely it is that house owners will also have a pet living with them. Understanding the geographic locations that pets are in a high percentage will only boost sales for Chopped Choice.
While many of the psychographic traits could be useful in determining a target market, the characteristics interests and lifestyle suggest being the most relevant. First, individuals, who have healthy eating habits would appear to be one of the first groups to take notice of all-natural pet food considering they have a keen awareness of their food intake. Natural diets have become normal for humans, so it would make sense for their pets to follow the trend (Phillips, 2016). Depending on the geographical locations stated above and a mixture of psychographic traits will help guide me to those people who are more active as well. Those place where people are health conscious and also devote their time to physical activities such as hiking and nature walks. This group of people who are active with their pets would be beneficial for me to target because those adults who eat healthy, often want their pets to be the same way. According to Dr. Louise Murray, people are making more of an effort to include their dogs in their everyday lives, which includes their fitness routines (Phillips, 2016). That being said the title Chopped Choice will entail only healthy ingredients, which would be geared to those living a healthy lifestyle.
Pet owners take their job seriously when it comes to their pets and most of them consider them to be children, some call them “ fur babies”. These pets have gone from members of the family to instead being one with their pet parents, which is why they want the best for them in every way. People even have shown that, 54 percent of pet owners now refer to themselves as “pet parents” (Business Wire, 2011). Knowing how fond people are of their pets, they will want to strive to give them what's best as well which is, Chopped Choice. Giving their pets the proper nutrients, vitamins and minerals that natural food has will be important for these pet parents. A recent study was done and the results stated that the market of premium pet food has experienced an increase in sales reaching a record- breaking $10 million in 2011 (Harwell, 2014). This number shows volume for my marketing strategies because it shows how much people strive to get the healthiest option for their pets. I think that this trend will only continue to rise as the health trends for humans also continue to rise, as people strive to make themselves healthier families. Families have started to pay more attention to the ingredients in pet food, which is why Chopped Choice will be geared towards them because it'll be all fresh ingredients and grain free. Pet owners prefer grain-free ingredients, a variety of options as well as a product that was made in the USA (Caley, 2016). Knowing what the consumers like for their pets, help me be able to have a leg up in the completion.
Chopped Choice is a all natural, grain free and fresh pet food geared towards individuals who live the healthy lifestyle and wish the same for t
...(download the rest of the essay above)