Marketing Plan for a New Product

Americans currently spend $20 billion a year on pets (Palmer, 1996, pp. 29-34). There are 236 million dogs, cats, and other small animals kept as pets in 52.8 million, or 56 percent, of the 93.1 million U.S. households. 36 percent, or 54 million, of these pets are dogs, while 30 percent are cats. Purchases are increasing for nonfood, higher-priced, niche, and premium products, which also offer higher profit margins for retailers than food items. Demographically, the average owner is married, owns a home, is younger than 50 years old, and makes more than $30,000 annually (Russell, 1995, pp. 63-65).

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d animal-related products will likely have a positive effect on potential future sales. The most important value supporting acceptance of this product is the strong cultural value of preventing and limiting cruelty to animals. The animal rights movement has increased awareness of vivisection, laboratory research and testing of animals, the mistreatment of zoo and circus animals. Similarly, the increasing popularity of vegetarianism is partly the result of concerns about the killing of animals for human consumption. These indicators show that many people are against cruelty or unnecessary harm being done to animals (Finsen, 1996, pp. 43-46). Another powerful cultural value is the strong emotional bond between owners and pets. In fact, industry executives believe emotions ultimately play a large part in the pet owner's purchase decision. Most often, what they are looking for in a product is a sense of security and comfort (Brown, 1996, pp. 49-57). This supports the motivational behavior theories marketing experts report about consumer behavior (Pearce & Robinson, 1991, p. 105). The animal-friendly nature of this product is a positive feature that will appeal to these values. 3. Demographic Forces The portion of the baby
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Approximate Word count = 3138
Approximate Pages = 13 (250 words per page)

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