Dog House Worksheet

The Dog House Worksheet 2

Industry Analysis

In order to assist the owners of The Dog House in their decisions on how best to pursue financial growth, you will conduct secondary research in the pet grooming and boarding industry.

You can access industry information on “Pet Grooming & Boarding in the U.S.” through the Franklin University Library. Review this brief tutorial on industry research to see how.

What are the key economic drivers of the Pet Grooming & Boarding industry in the U.S.? Key external drivers?

The key external drivers of the Pet Grooming & Boarding industry in the U.S. are -0.2pp national unemployment rate, 1.2% per capita disposable income, 0.9% number of pets (cats and dogs), and -7.2% international trips by US residents.

Describe the industry outlook and projected growth.

The industry outlook revenue will grow at a CAGR of 1.1% to $12.5 billion over the next five years, with profit margins reaching 10.9% in 2028. A demand for pet care will rise as pet parents return to work. As well as new competition will follow for this industry. The projected growth will be rising interest rates and rising disposable income levels that will hinder growth in the industry.

What are the obstacles or barriers to entering this industry?

The obstacles or barriers to entering this industry are low. However, start-up costs have risen to enter this instrusty. As well as for services differentiation can depend on quality, breadth of services, reputation, and price. Another thing is that a knowledge of proper animal care is required for groomers and boarders.

What themes and trends do you see in the industry?

The themes and trends that I see in the industry are the demand for pets to have luxury services, the number of industry operators to increase, an increase per capita disposable income, the number of companies to expand, barriers to entry and governmental regulations to remain low, and high-value services that will contribute to revenue

Would you recommend the owners of The Dog House consider implementing a Marketing Information System (MIS) or a Decision Support System (DSS)? Defend your answer.

I would recommend the owners of The Dog House to consider implementing a Decision Support System (DSS) because it can help support the business and to make important decision-making activities. It can help by making more informed decisions to produce possible outcomes based on current and historical company data for the success of the company.

As you read in Brown et al., 2018, ‘Big Data’ is the process of capturing, merging, and analyzing large and varied data sets. What is one benefit that the owners of The Dog House might get from using ‘Big Data’? What is one challenge they might face?

A benefit that the owners of The Dog House might get from using ‘Big Data’ is by gaining a better customer insight. It can help by obtaining traditional sources of customer data, external sources, social media activity, data from internal and external surveys, and computer cookies. A challenge that they might face would be dealing with security issues. Since the more data a business collects, the more expensive and difficult it can get to be stored