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Pet Industry Segmentation

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The first step to developing a target market for this company will be based on what product the company is offering (that is, what need the company's product will fulfill). Subsequently, we will consider the competitors already in the market, i.e. competitor analysis and lastly, determine what segment of the population the company cater for.

Target market: The target market for this start-up firm are pet owners in those communities that commercial airlines fly and within that segment, the focus will be on communities with higher rate of Pet ownership. Hence, we assume that the target market chosen by the pilots are Vermont, New Mexico and South Dakota. According to research done by Dogtime website,Vermont has a 70.8% rate of Pet ownership in the United State Compared to other state followed closely by New Mexico, and then South Dakota with 65.6% (DogTime, 2012). We assume these states to be the target markets for such the firm because of the high rate of pet ownership which in turn will lead to high demand for the airlines offering such services. …show more content…

Although, the market is already saturated with competitors, we must understand the type of product the competitors offer and what the customers really want to be able to stage a successful market entrance and win most of the market in the long-run. Further, this can be achieved through relative advantage, which we hope to bring to the market and set us aside from the

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The competitive analysis is based on two competitors that are ranked fairly high overall pet grooming. PetSmart and Petco offer devoted associates which are trained and enjoy interaction with all animals. A typical day spent at these two places I observed customers are interested in learning further about their precious pets. PetSmart is focused mainly on product sales than the grooming industry. Where Petco provides a friendly atmosphere, however there is a large number of employee turnover.

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Businesses can attract and identify their customers and target market by understanding customers’ needs and wants, also understanding the welfares of their products. There are many ways to identify customers in a consumer market and some of them ways or methods could be using research such as primary & secondary where the business would find out key information based on their customers and also primary research is done by the business whereas secondary research is done already and can be found easily. Businesses can also use socio-economic climate which is when the information is based on their target market allowing the business to put their customers in different types which is called market segmentation. Different target groups are chosen for different products or services as they have different needs and wants from each other where they require different products or services for example; age groups as old people would have different requirements compared to teenagers as they would prefer simple products and technologies whereas teenagers are into advance and new technologies or services which meets their

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