Target Market Analysis, Berko All Natural PDF

Preview

Summary

Download Target Market Analysis, Berko All Natural PDF

Description

MKT 113: Final Project Part I Milestone Two Target Market Analysis: Berko All Natural Pet Food Gretchen Rodriguez Southern New Hampshire University

Target Market Analysis: Berko All Natural Pet Food 2

In the past five years, our company has grown rapidly to be the preferred brand. We keep setting high standards by offering high quality products and food. We want to keep setting ourselves apart from the competition and be always the preferred brand. Consumers want to give their pets a healthier and longer life. With this in mind, we have created the first All- Natural, Additive-Free Food, for dogs and cats. SNHU Pet Supply Store is introducing “Berko All Natural Pet Food”, our first all-natural pet food.

Although we want to be able to reach all types of consumers, we want to focus our sources on targeting millennials. “The Millennial generation has become a driving force in the American pet industry. Between 2007 and 2015, Millennials were responsible for 43% of the growth in the number of pet owners in the United States.” (According to Packaged Facts in the report Millennials as Pet Market Consumers) Most importantly we want to target consumers that are concerned in how nutrition affects their pets health, and daily performance. Some of the characteristics of the consumer segment that we will target can be described as technology savvy, health-conscious, and supporters of organic & all-natural products, and free of additives. Most of the people in these segment are homeowners or renters, in urban areas and suburban areas. Their family size range from 1 to 4 members with an annual income of $50,000 to $180,000. They are also young professionals, males and females, with ages ranging from 22 to 39 years old. The average individual in this segment has at least an associate degree or higher in formal education.

Target Market Analysis: Berko All Natural Pet Food 3

Consumers are becoming more health conscious, feeding themselves with organic, gluten free, no additives and all natural products. When it comes to their pets, they are translating the same health patterns. The desire for healthy foods and a healthy lifestyle is projected as needs and wants for their pets. Millennials are driven by quality and they are willing to pay more for it. As a result, they are more likely to purchase high end food for their pets. Millennials are known for taking extraordinary care of their pets.

The desire to spoil pets and the trend for healthful, quality, and natural products are core to the motivations that drive millennials. We are always trying to find ways to improve our quality of life and longevity. It has been proven through medical research and studies that a healthier nutrition can boost our immune system in general and improve our health over the long term. Our pets are part of our families and they deserve the same quality of life, so they can live a healthier and longer life. And that is exactly what we offer with our brand. We offer what millennials are looking for; more healthy food options for their pets. With All Natural Ingredients, “Berko All Natural Pet Food” we offer what the customer is looking for, a healthy, all natural and additive free food for pets.

Target Market Analysis: Berko All Natural Pet Food 4 References Armstrong, G., & Kotler, P. (2015). Marketing: An introduction (12th ed.). Upper Saddle River, NJ: Pearson Education, Inc. https://www.sciencedirect.com/science/article/pii/S2211335514000199 http://www.petproductnews.com/Viewpoints/Editorial-Blogs-Features/Blogs/HowMillennials-Are-the-Future-of-Pet-Food-Spending/ https://www.packagedfacts.com/Content/Blog/2016/06/20/Millennials-get-ready-to-bringup-fur-baby...