SNHU Pet Supply: New All-Natural Pet Food & Happy Paws Toys

SNHU Pet Supply is a recognized firm that positions itself for progress through new product bargains that display a better value proposal to the client. The corporation provides pet food, toys, and provisions in retail sites and online. Lately, SNHU Pet Supply has been marketing their new all-natural pet food, which has had a positive entry into the market. In addition, a new pet toy, Happy Paws, will be launched this summer for both small and large cats and dogs. These toys are intended to facilitate active and healthy four-legged family members.

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SNHU pet supply will start by providing the three pets' products but with time, it will advance to other products. The three types of pets' products are all geared towards 20-40 year-olds. This will be mirrored through their exceptional designs, quality, focus on color and quirky humor in naming their toys. Given the target consumer segments, the business will have the ability to effectively develop exceptional designs and quality for products that are regarded as mainstream. The utilization of quality and color is operational in forming an insight of exclusivity and pleasure within the brand, both within the business itself and millennial customers (Grate, 2018). Pet's food and toys will be prominent for high quality; colorful, good-looking look; bomb-proof; lifetime assurance. General wear and tear, joints, and material guarantee long-life span and if they break, SNHU pet supply company will fix them.

SNHU Pet Supply possesses the power for development in both retail and online systems. In retail aspects, SNHU Pet Supply can upsurge its product positioning by holding events where the client can bring their pets and get exposed to what the firm sells particularly Happy Paws. Its positioning will be mostly for people who know how to live. Other target markets for the company are older males and female and urban consumers with the inclusion of school and university students, high-income luxury consumers and messengers.

SWOT Analysis

SWOT Analysis is a framework utilized to evaluate a company's competitive reputation by categorizing its strengths, weaknesses, opportunities, and threats. SWOT analysis for SNHU Pet Supply is examined below.

Strengths

This aspect pronounces the core capabilities of a firm. Strengths act as strategic fundamentals that may make a specific business more possible to thrive and facets where the business may have advantages over another related business. They include:

Unique products= SNHU Pet Supply will sell unique products different from other players in the pet products market.

Cost= the price of the products will vary according to different customer segments.

Quality= SNHU Pet Supply will sell products of premium quality

Weaknesses

Weaknesses are features that make a certain business less possible to prosper and sectors where a company is primarily deficient. They include:

Distribution outlets= SNHU Pet Supply faces the challenges of distribution outlets. It intends to start with one distribution channel and sell on its online platform.

Expected cost= the costs are likely to increase with time which the firm may be unable to meet. Some of the costs may include hiring a shipment company when it has already issued discounts.

New company= SNHU Pet Supply is just starting which means there will challenge of making a name for itself. It is not easy for a customer to purchase from new companies because of quality and safety doubts.

Opportunities

Opportunities are facets that have the ability of snowballing profits, efficacy or benefit a company in some various ways. They include:

Differentiation= for most new pet outlets, proprietors seek to differentiate themselves from other players in the market (both online and traditional retail) by specializing in a unique type of pet type or certain types of pet food.

Marketing research= Research is essential in making the company understand new market unexploited by the already established players.

Threats

Threats have the potential to damage a business. They include:

Decrease in demand= Potential substitutes that endlessly put pressure on major players entails big box pet retailers and more online established companies. This is likely to reduce demand.

Pricing= there is continued pricing pressure from big-box retailers. This leaves the small outlets with little profit margins. Since the pricing issues are likely to continue in this market, exploitation of new market in the same industry is the key to success.

Target Market Analysis

Targeting entails a variety of potential customer to whom a firm desires to sell its products or services. Target market comprises a group of buyers who share mutual demands or characteristics that a firm decides to serve. The target audience is male and female consumer segment with ages between 20 and 40 years. Currently millennials, who constitute this age group, are the principal segment of pet proprietors who depend on giveaways online for their pet.

Most people around that age are working class, therefore, we expected increased sales. Pets toys will be tailored for men and women. Women are known to be purchasers of bright colored toys (Kestenbaum, 2017). Pets toys with bright colors and have beautiful appearance will be high quality and priced more than dark male-appealing products. SNHU pets supply will sell products that push the boundaries of functions. The toy sellers will be motivated to explore all the probabilities when it comes to creating and carrying solution for the target customers. Every year, the focus of consumer segmentation will represent a diverse avenue for the pets' brand.

The consumer segmentation strategies by the business will be grounded on the operational developments of exotic breeds' new release across precise types of pets. In regards to the 'welcome stranger' innovation context, customers will have extensively embraced the multi-faceted international identities of pets' food, seeking reality and local moments. Target customer segment in regards to their lifestyle will be considered in their category for pets food and toys. SNHU pets supply will mostly sell in the lifestyle and retail sector. The target consumer groups will mostly the fun-lovers, walkers, tourists, joggers, riders, photographers and adventurers.

Marketing Objectives

A marketing strategy is expected to approve the timespan to mirror the original 'short-term goals and be capable of integrating speculative 'permanent' aspects.

Establish Product Awareness

Strategies applicable in this situation are adverting through social media sites. SNHU pet supply can also introduce trial pets toys in the market. The company can also sponsor sporting events during the Happy Paws event to make the products visible to consumers.

Increase Market Share

SNHU pet supply should package pets food and toys in appealing color ribbons to attract customers. The company should also provide gifts to the first 1000 customers. Coupons especially e-coupons are crucial in increasing market share. The product should also be located in supermarkets and shopping malls to make it visible to clients. Another strategy would be to partner with other companies to become competitive in the pets market.

Increase Profit

SNHU pet supply should focus on attracting competitor's customers through low pricing and extensive advertising strategies. The company should also focus on retaining its current customers at this stage.

Decrease Costs

SNHU pet supply should focus on selling the product in bulk. This will increase sales and reduce expenses. The company should also introduce promotional measures like after sales service and gifts like buying one get one free. Additionally, the company should reconsider repositioning its customer segments to remain relevant.

Strong Marketing Campaign

To establish a strong marketing campaign, there is a need to apply push and pull strategies. The push strategy will demand the use of direct transactions approach and business advertising to pledge the service to internet sellers. Once prosperity has been attained in the push strategy, the pull strategy will use a far-reaching promotion campaign to increase customer demand further.

Use the Effective Marketing Strategy

The most effective marketing and media approaches are television shows, posters and internet messages. Internet messages entail the use of social media sites like Facebook, Instagram, and Twitter. The youth, especially in their 20 to 50 years communicate through these channels. Marketing pet's toys and food will require strong marketing and media techniques and understanding of technical advertising. Since pets are mostly used by college students, there is a need to make sure that the approaches influence the intended target market. It is necessary to consider the free media like internet promotion, consumer contest, product location in movies and T.V shows, novelties and other consumer items like logos on toys.

References

Grate, R. (2018). New Data Reveals What Draws Millenials To Events - Eventbrite. Retrieved from https://www.eventbrite.com/blog/millennials-event-trends-ds00/ on date 20/4/2019

Kestenbaum, R. (2017). This Is How Millennials Shop. Retrieved from https://www.forbes.com/sites/richardkestenbaum/2017/06/14/this-is-how-millennials-shop/#2a886301244c on date 20/4/2019