Assignment 3

Marketing Plan

Student's Name

Professor's Name

Course Title

Institution

Date

Marketing Plan

Introduction

Dentech Company, a family owned corporation dealing in dog products. The company has been in operation for the last two decades since its establishment. It sells dog products such as Yorkshire terror adult dog food, wire crates, Kong bed, dog sweater, wood coat and treats (Row, & Nam, 2014). The company serves around 80,000 customers with 20 employees. The company is located at the outskirt of Chicago with an outlined business attraction far from the central business area. A part from products, it offers cleaning and shaving services to the homesteads with pets at affordable fee.

The marketing plan focuses on the market strategies, customer awareness, customer coverage and the opportunities that can be evaluated to improve the services provided by Dentech Company. The main problem facing the company originates from production unreliability that hinders persistent satisfaction of market demands due to limited quantity of products and services.

Environmental Analysis

Environmental analysis incorporates the competitive environment, economic, political, legal and technological as well as sociocultural forces (Foxall, 2014). The corporation founded as a producer of high quality products and provider of effective services.

Competitive forces. The competition in pet industry has intensified since the number of domestic owned dogs increases with increase in adult generation. Many homestead with adult individuals sort for pets as a way of obtaining company, thus many producers and marketers have joined the market of pet products. The increased competition has derailed the aim to attain the most possible profit level. The competition appears strong on the food stuffs of dogs as compared to products such as dog sweater and wire crates among other valuable products. Out of the market sales, Dentech Company represent ten percent which still does not reach the set benchmark. Even though, the company improves steadily on the sales on wire crates and wood coats to dogs, the remaining ninety percent shows the competition unsustainability. Other companies have concentrated on production of food stuffs with increased market promotions. They as well offer free services to their client, a contrary case in our programs.

Economic forces. In the industry, firms have reduced their general expenditure, though expense has increased on food stuffs where many companies accrue benefits. Treats and Yorkshire terror adult dog food contribute more revenue collection as compared to other products (Foxall, 2014). Increased production and competition has compelled entities to improve their promotion and advertising. Political forces. On the pet products specifically dogs, there are no related political forces.

Legal and regulatory forces. Most of the products follow the standard requirements by the food agency. The transportation to client happens through a preserved channel that does not contaminate the products. Products have labels and outlined dates of manufacture and expiry. Excessive use of promotional and advertising activities with misleading content do not have a space in the market.

Technology forces. The trend by clients to depend on mobile technology to follow and shop pet products online compels producers to follow suit (Roberts & Zahay, 2012). Thus, most of producers have invested on digital technology by using digital devices and technologies such as iPhone, Android and Blackberry to promote and make available the existing products in the market. Customers research pet products online either by laptop/PC, smartphone and tablet (Foxall, 2014).

Social cultural forces. The increased adults and widowed families facilitates the demand for pets in the country. Most families with single parent with no child, single parent with adult children, widowed fathers or mothers and retired group need pets to offer company. The trend also follows the aging effect of pets as well as family outings increment (Schultz, 2014).

Market Targets

A focus on quality product and services has been effectively implemented in Dentech Company to work on a differentiation strategy in relation to market dynamism. Mostly, it targets homes and families with single parents, no children and adult population specifically retirees. The primary targets are the retirees and single families while secondary targets incorporates families with outing desires with the pets, families with children with a desire to own a pet by selling at affordable prices that can withstand the market forces and environments such as competition from competitors (Foxall, 2014). Chicago and its towns as well as the surrounding cities provide a steady demand on the company’s production, thus, productions and market promotion will still focus on them (Row, & Nam, 2014). However, product promotion and advertisement strategies must remain factored in the plans. Distributors, suppliers, retailers as well as wholesalers can be submerged in the system to enhance creativity and innovation.

Goals of the Company

Currently, the company’s market proportion hits ten percent of the total market supply, therefore, as per the short term goals, it aims to hit twenty five percent of the market supply after two years. It also expects to attain stable and sustainable production that can serve the demand at a rate of ninety eight percent, projects a double innovation and creativity in technological application in promotion and production processes and finally a double projection of revenue income from the current $1.5 million to at least $4.2 million.

The long term goals of Dentech Company comprise;

· Increased market coverage to 400,000 customers after five years.

· Sustainable and quality services to customers.

· Production of both dog and cat products and services at sixty to forty percent respectively of the total production.

· Increased workforce to 80 employees.

Measurement of long term and short term goals

The company will depend on the evaluation of the market share increment in comparison to the current ten percent, new production and promotion technologies, customer engagement and improved customer value (Schultz, 2014). Adoption of new technologies in production and promotion will demonstrate achievement in one of the goals.

SWOT Analysis

Strengths

· High quality goods and services that outsmart competitors in the market.

· Low workers turn –over increasing employees’ retention.

· High reorder percentage from customers shows satisfaction on our products and services.

· High technology exposure in production and promotion (Galvão et al., 2015).

Weaknesses

· Lack of managerial backup due to high centralized management.

· Overconcentration on specifically dog products that may shrink in case of crisis in dog markets.

· Increment in the number of pets growing old with a reduction effect on demand.

· Lack of diversification on the products creating dependency on limited products.

Opportunities

· Increased desire to own pets creates opportunities for growth.

· Increased use of digital devices by customers eases promotion and advertisement goals.

· Improved innovative techniques to manufacture food stuffs and other valuable products facilitates demands.

· Constitutional engagement on pets’ rights and role in society pioneers the market expansion.

Threats

· Reorganizing management system may create a challenge on the already adopted staff.

· Increased employees may result to losses to the company if demand reduces.

· High demand by customer on use of digital devices can hike technology expense due to the need to train employees on new technology.

· Abrupt market changes with negative desire to other pets may appear difficult to counter.

References

Foxall, G. (2014). Corporate Innovation (RLE Marketing): Marketing and Strategy. Routledge.

Galvão, J. A., Yamatogi, R. S., Junior, S., Teixeira, L. C., Joaquim, J. F., Rodrigues, M. V. ... & Nogueira Pinto, J. P. D. A. (2015). Quality and Safety of Pet Treats: Assessment of the

Microbial Safety and Quality of Pet Treats. Journal of Food Processing and

Preservation, 39(6), 1201-1205.

Roberts, M. L., & Zahay, D. (2012). Internet marketing: Integrating online and offline

Strategies. Cengage Learning.

Row, Y. K., & Nam, T. J. (2014, September). CAMY: applying a pet dog analogy to everyday

ubicomp products. In Proceedings of the 2014 ACM International Joint Conference on

Pervasive and Ubiquitous Computing (pp. 63-74). ACM.

Schultz, P. W. (2014). Strategies for promoting proenvironmental behavior. European

Psychologist.