Verified Document

Strategic Plan SWOT Analysis Essay

Big Dog | Strategic Plan

Economic: According an April 2004 American Pet Products Manufacturers Association, Inc. (APPMA) news release, pet owners are projected to spend "$2.2 billion for other [pet] services" in 2004 (Veter, 2011). That's a small portion of the more than $34 billion they will spend on all classes of pet care and product spending in 2004. The same APPMA news release reports that consumer spending on pet products has doubled from $17 billion to a projected $34 billion since 1994 when the APPMA first began tracking pet industry statistics.

Social: The sales strategy will be to develop a list of happy past customers who are willing to act as referrals for Big Dog. Once this list is developed, their names will be given out when a prospective client calls (May, 2009). The advantages of pet foster care are so obvious relative to kennels that it will not be difficult to sign people up. The flip side to this demand is that in order to maintain all of these advantages, the operation must stay small so there will not be the possibility of growing the operation beyond its capacity.

Competitive analysis: We have many competitors in the pet products industry (Vetere, 2011). Direct competitors are designers and manufacturers of elevated pet feeders and complementary products such as pet fountains. Other competitors include, but are not limited to, private companies:

* Doskocil Manufacturing Company (LeBistro feeders and waterers)

* Veterinary Ventures, Inc. (Drinkwell fountains)

* A Charmed Life (Elevated feeders)

Indirect competitors for pet-related purchases include, but are not limited to, large public pet products corporations:

* Nestle Purina PetCare

* PETsMART

* PETCO

Large bricks and clicks retailers:

* Wal-Mart

* K-Mart

* Target

Online and catalog retailers:

* Drs. Foster & Smith

* Watson's Pet Company

* TrendyPet.com

* Orvis

Internal

Strategy: Big Dog will develop a loyal customer base through the use of a simple initial advertisement in the local newsletter, strategic alliances with veterinarians, and a word-of-mouth referral system. While this approach might seem a bit egotistical, based on the current service offerings for places to care for your canine, Big Dog is warranted in being a bit proud and assuming. Their service offering is unique and superior and will develop a...

Big Dog will be working with respected veterinarians as well as placing an advertisement in the Human Society newsletter as the means of communicating The Big Dog's availability to the general public. These will be the only strategies used to develop a loyal customer base.
Culture: Big Dog's target market is people who truly look out for their dog's best interests and can afford a pet foster family (Benett, 2010). Big Dog is targeting the market of people that believe there should be another alternative for the care of their dog. The other component of the target market are customers who can afford to keep a big dog in their house, since the typical suburban household income is $60,000.

Innovations: Dog owners consider cleaning up after their dog a major challenge. Unfortunately, currently available products offer dog owners little help as they are generally cumbersome to carry, crudely designed and manufactured, difficult to operate, and difficult to keep clean. Dog owners will welcome environmentally friendly products which can effectively address these problems (Vetere, 2011).

Strengths

Weaknesses

Opportunities

Threats

Economic

The pet industry is something which a lot of people invest money in The market for this industry is very small and select; not everyone is a pet lover

The product Big Dog offers is something unique which people would like to try out

Being in the economic state our country is in, the target market might get smaller

Social

The marketing strategy will be through word-of-mouth and very personal

The start-up using this scheme may be very small

Groups of people who are inclined to spend on their pets have friends who are the same

The market for these people are small, especially since it is more specific -- big dogs, not just dogs

Competitive

The type of products Big Dog offers is very unique in the market

Being a small company, it is not as well-known as other brands

People would rather products which are safer for their pets

Having people try the products would come as a difficulty

Strategy

Having a loyal customer base will ensure…

Sources used in this document:
References

Benett, L. (2010). Pet Industry Trends for 2010. Small Business Trends. Retrieved from http://smallbiztrends.com/2010/01/pet-industry-trends-for-2010.html

May, L. (2009). Pawsible Marketing. Retrieved from http://www.marketingmypetbusiness.com/p/about-pawsible-marketing.html

Pet Business (2008). Macfadden Communications Group. Retrieved from http://www.petbusiness.com/

Vetere, B. (2011). Before entering the pet product industry. American Pet Products Manufacturers Association. Retrieved from http://appma.typepad.com/pet_industry_insight/
Cite this Document:
Copy Bibliography Citation

Related Documents

Strategic Plan and Analysis of New Commercial Endeavor
Words: 2994 Length: 8 Document Type: Term Paper

Strategic Plan & Analysis of New Commercial Endeavor Planning Mission statement Louisville Community Development Bank was set up in the year 1997 as a consequence of a scheme by Louisville mayor Jerry Abramson and a team of business, community and religious leaders to ensure betterment of the Louisville inner city. The Bank's mission is to inspire economic growth with the West End and the Smoke town, Shelby Park and Phoenix Hill localities of

SWOT Analysis: Mercy Medical Center Strengths Mercy
Words: 1015 Length: 4 Document Type: SWOT

SWOT Analysis: Mercy Medical Center Strengths Mercy Medical Center is known for its strong workforce, composed of highly competent nursing and medical staff. Aside from their qualifications, Mercy's competent salary rates enabled the hospital to have a low staffing turnover unlike other hospitals in Baltimore, Maryland. As support to the hospital's strong workforce, the hospital also has a strong training program for advanced studies for nurses. Mercy RN is a program in Mercy

Strategic Plan- Sweet Reads Since Its Inception,
Words: 1081 Length: 3 Document Type: Business Plan

Strategic Plan- Sweet Reads Since its inception, Sweet Reads has supported a vision of providing excellence in service from exceptional employees. Sweet Read is committed to: Responding to consumers' needs efficiently and exceeding their expectations, Providing competitive pricing, and III. Providing the highest level of on-the-job training to the staff This will earn Sweet Read a reputation of consumer satisfaction and loyalty. Since its formation, the company has worked tirelessly to differentiate itself and

SWOT Analysis Is a Strategy Development Tool
Words: 1679 Length: 4 Document Type: SWOT

SWOT analysis is a strategy development tool used by a majority of organizations. Proper use of the tool will yield the position of an organization in terms of strengths, weakness, opportunity and threats. It is very essential that one consider honesty when analyzing the organization using this tool. The analysis should truthfully reflect the current situation of an organization. In addition, SWOT analysis is a base for developing strategy of

Strategic Plan in an Organization: This Discussion
Words: 2437 Length: 6 Document Type: Essay

Strategic Plan in an Organization: This discussion entails an implementation for the Office of Payroll Administration's Strategic Plan for the three years, starting 2010 to 2012. The report covers issues of payment and compensations for employees and other programs in addition to processes of tax holding within the organization. With respect to these roles, the discussion aims to provide a clear picture of the implementation process of these strategies together with

SWOT Analysis: Human Rights Campaign Human Rights
Words: 856 Length: 2 Document Type: SWOT

SWOT Analysis: Human Rights Campaign Human Rights Campaign (HRC) In brief, HRC "is the largest civil rights organization working to achieve equality for lesbian, gay, bisexual, and transgender Americans…" (HRC, 2014). As the organization further points out on its website, it currently has a global membership of more that 1.5 million people. In this text, I conduct SWOT analysis for HRC. In so doing, I will be taking into consideration the HRC's

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now