Marketing Strategy for Pet Food Product
This paper outlines the marketing strategies that I intend to use for launching my pet food product. The product is titled Nature’s Best and it is unique in that it provides natural ingredients that appeal to pets’ tastes and conforms to emerging market trends. These market strategies are chosen by several factors including a SWOT analysis, target market, market needs, and other market strategies.
The strategy that will assist in marketing the pet food product involves capitalization of its core strengths and opportunities. First, the product comes with a unique composition of ingredients that includes high quality and natural ingredients. This aspect is important to the marketing strategy because most of the competing products are generic. It is also important to note that the healthy eating fad that is common among human beings is extending to the pet food industry. For example, Nature’s Best products will include a wide range of organic ingredients. These advantages come in handy because most of this product can be marketed to a wide demographic.
Nature’s Best will be launched in Dana Point California. The targeted customers include residents of the prestigious beach Southern California beach town. The targeted clientele includes both young and old demographics, thereby classified as Young Digerati and Money and Brains. This market segment includes modern, affluent, tech-savvy, and highly educated demographics who value quality over quantity. The most efficient marketing strategy for this target demographic includes the use of social media and niche-market advertising.
The targeted customers mostly consist of the Money and Brains segment, which includes upscale childless adults who are above fifty-five years of age. These people have a lot of spending capital at their disposal and this fact is reflected by their expensive tastes. The reason these people would be interested in Nature’s Best products is that they appear to prioritize the image they project over everything else. This aspect of their buying habits is reflected in their palatial homes, the quality of cars that they drive, and the type of eateries that thrive within Dana Point. Some of the marketing strategies that would appeal to this demographic include pictures that depict pets with shiny coats and bright eyes in the shop’s banner. Furthermore, marketing to these potential customers would require advertising in high-end magazines such as Vogue and GQ. Social media is also a viable marketing tool because it can accommodate personalized connections with viable clients.
The recommended marketing strategy for Nature’s Best is an audience-focused approach. An audience-focused approach is effective in terms of pricing because it minimizes the cost of both the initial impact and subsequent strategies (Hanlon, 2016). The targeted audience has Dana Point as its primary place of residence and it is important to know all the ins and outs of this targeted neighborhood. This strategy might include knowledge of other parallel places of impact such as spas, fitness clubs, and boutiques. Promotions in an audience-focused approach also call for an understanding of customers’ intricate habits. For example, it would be more effective to promote this product by leaving fliers in health spas or through advertisements in magazines that are likely to put for clients in luxury facilities. The product itself appeals to individuals who are already using other existing products. Therefore, Nature’s Best products should be a step up from other existing pet foods. This is the only class of products that can appeal to the Young Digerati and Money and Brain demographics.
One marketing strategy that the company should avoid is to use mass marketing for Nature’s Best products. Mass marketing is not a viable marketing strategy because it is pricy and contributes to the waste of resources. Pricing in a manner that appeals to the mass market also works against the nature of the product. The shop will be located in a seemingly exclusive neighborhood. Therefore, this choice of location does not accommodate mass marketing because it is a sparsely populated neighborhood. It is important to note that the Young Digerati and Money and Brain demographics do not respond well to mass-produced products. This aspect is reflected in their choice of living spaces, the cars they drive, and the clothes that they wear. Therefore, an effective strategy for this product involves insinuating that it is an exclusive product for a particular class of people. Changing the price of the product in a manner that makes it exclusive would most likely achieve better results even in the context of mass marketing (Armstrong & Kotler, 2015).
The choice of marketing strategies for this product is based on various pre-existing factors including the target demographic, the shop’s location, and expected pricing. The product’s SWOT analysis revealed that it comes with obvious advantages including its conformity to the healthy eating fad. It is also important to note that its expected launch-location influences most of the marketing strategies that are chosen in this paper. A thorough analysis of the facts indicates that audience-focused marketing is the most suitable approach to marketing while mass marketing would achieve minimum results.
References
Armstrong, G., & Kotler, P. (2015). Marketing: An Introduction (12th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
Hanlon, A. (2016). The segmentation, targeting, and positioning model. Web.