Need help to write executive summary and conclusion

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Beautiful Pets

Positioning statement and branding strategy

The success of every business relies on its ability to identify competitors because this can guide them in selecting the best strategy to compete (Fleisher & Bensoussan, 2015). The pet grooming business is dominated by different companies operating in the same area. Our company therefore has to compete for customer and take different strategies to maintain customer loyalty. Based on the analysis of our main competitors, we are currently at the 4th position. Our main competitor is Keller's Loving Bath. The service provider offers a wide range of services such as cat or dog walking, play time for pets, helping overweight pets lose weight and helping underweight pets gain weight. The company has been recognised as one of the best pet grooming provider. The second competitor is Knoxville Boarding by Heather. This grooming service provider offers flexible services thus making most clients prefer taking their pets there (Soleh, Wuryani, & Farizi, 2017). The third competitor is Bonnie’s Spa Day, which is generally a parlour and therapy centre for pets that provides full-service dog grooming aimed at achieving the highest quality care in a relaxed and nurturing atmosphere. The parlour poses a great threat to our business because of creating stiff competition. Our position in comparison to our main competitors is still favourable because we can improve the quality of our services and get ahead of Keller's Loving Bath and Knoxville Boarding by Heather. We however have to go a long way before we can get ahead of Bonnie’s Spa day because we do not have the resources required for that.

Branding Strategy

A brand name plays a significant role in communicating value to potential customers (Hajli, Shanmugam, Papagiannidis, Zahay, & Richard, 2017). It also provides customers with an idea of the objective of a business. A strong brand name can help in attracting customers because they want to find out what the brand is offering. A company’s branding strategy includes selecting a strong brand name, a slogan and brand extension. A slogan acts as a phase to remind customers about a company (Dan, 2015). It is important for companies to select attractive slogans that help customers gain interest in the brand (Choi & Hyun, 2017). Given the intense competition that Beautiful Pets is facing, it is imperative to have a strong branding strategy.

Our products brand name will be Beautiful Pets. This brand name communicates the value of our services by creating an idea of what the goal of our services is which is in this case making pets beautiful by bathing and drying them, training, day care and nail grind services. We intend to enhance brand awareness through our slogan which will be ‘a clean pet is a happy pet’. We intend to promote the cleanliness of pets by offering affordable cleaning services. We also intend to show people the connection between cleanliness and happiness. We additionally intend to expand our brand by reaching people from different locations. We will achieve a wider reach through high presence on social media and providing leaflets to advertise our services.

Pricing Strategy

Our company’s pricing strategy is penetration pricing which incorporates setting a lower price to enter a competitive market as well as increasing it later. We have selected this pricing strategy because we intend to maximize rapid market entry into new markets and introduce better services to attract more customers. We also expect that eventually we will raise the price when we fulfill our marketing objectives which are to acquire a large market share, to maintain customer loyalty and to create competitive advantage. We want to attract as many customers as we can so that we can maximize profit and also get money to expand our services to incorporate more high quality services. We intend to strengthen our pricing strategy through low product differentiation, elastic demand and minor revision of our services. We understand that we may make less or no profits in the beginning but after we acquire the required market share and increase prices, we can generate a lot of profit.

One of the factors influencing our pricing strategy is competition. We are currently experiencing intense competition from companies that have already dominated the market. These companies are however charging high costs for the same services that our company is offering therefore creating an opportunity for us to gain a reasonable market share if we lower prices. The second factor is the nature of our services. There is no way our customers can know the quality of our services unless they experience it thus forcing as to begin by setting a low price until our services are recognized in the market. The third factor is the predetermined objectives which are increasing market share and creating competitive advantage. The fourth factor is the price sensitivity nature of our target customers. We understand that our customers are highly sensitive to price and may try our services to compare its quality with the quality of similar services that are highly priced by other companies. We will conduct regular market researches to establish the changing needs of customers in relation to price so that we can determine the most appropriate time to increase price.

References

Choi, Y. G., & Hyun, S. S. (2017). Relationships between brand experiences, personality traits,

prestige, relationship quality, and loyalty. International Journal of Contemporary

Hospitality Management.

Dan, L. (2015). Techniques for the translation of advertising slogans. In Proceedings of the

International Conference Literature, Discourse and Multicultural Dialogue, LDMD (Vol.

15, pp. 13-23).

Fleisher, C. S., & Bensoussan, B. E. (2015). Business and competitive analysis: effective

application of new and classic methods. FT press.

Hajli, N., Shanmugam, M., Papagiannidis, S., Zahay, D., & Richard, M. O. (2017). Branding co-

creation with members of online brand communities. Journal of Business Research, 70,

136-144.

Soleh, O., Wuryani, R., & Farizi, R. (2017, November). OPet's is petshop mobile application to

meet all the needs of pets (day-care, shopping and grooming): Development and business.

In 2017 2nd International conferences on Information Technology, Information Systems

and Electrical Engineering (ICITISEE) (pp. 141-146). IEEE.

Keller's Loving Bath

Knoxville Boarding By Heather

Bonnie's Spa Day

Beautiful Pets