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The pet industry in Australia is worth a staggering $12 billion dollars, where new start-up businesses are gaining a lot of attention. According to Business Insider Australia finding success in a new business relies heavily on the ability to fill a gap in the market that enough people need or want, and with customers spending $12 billion on the Australian pet industry annually this could be a good market to try and find some holes in (Byrnes, 2019).
Additionally, recent Coronavirus restrictions has also seen the demand for pet services surge. While many industries suffered during the COVID-19 pandemic, the pet industry is enjoying boom times as more and more people get animals to keep them company.
Working in groups of three, you have been employed as the dynamic Marketing Team by the newly established company called Bow WoW Meow. You have been employed by the business to develop and implement a marketing plan. Consequently, your team must make detailed decisions about how you will accomplish the Bow Wow Meows mission, values and business goals. Furthermore, decide about the businesss marketing objectives, marketing strategy and marketing mix.
The visionof Bow Wow Meow is to be among the best top ten pet care services business in Australia within the next five years. The business will open its first outlet in Perth City Centre; thereafter, open outlets in Melbourne, Sydney and Brisbane.
Bow WoW Meows mission statementis to always stay on top of the industry by continually looking for ways to satisfy their customers and provide value to them. They intend to be always be on the lookout for problems that are overlooked by other pet care businesses and come up with innovative ways to solve them in such a way that their customers will be ultimately satisfied.
Everything Bow WoW Meow does is underpinned by the following eight core values:
Value for money
Engage potential customers differently
To optimally satisfy their customers, Bow Wow Meow will offer varied products and services (in store and online) that will range from:
Pet Day Care
Pet Foods Products
Home pickup and delivery
The marketing plan will be presented to the Bow Wow Meow Management Team for approval.
The marketing plan developed by the marketing team must include the following:
Investigation and analysis of the market environment and industry Macro-Environmental considerations (PEST and SWOT analysis)
Description of the market segmentation (define target market and customer needs marketing research to be conducted). Must include segmentation variables Demographic, geographic, psychographic, behaviouristic
Detailed analysis of company competitors (marketing research to be conducted and utilise a positioning map). Must include competitive forces (brand, product, generic, total budget)
Description of the organisations sustainable competitive advantage (an advantage that the competition cannot easily copy)
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