Running head: SWOT ANALYSIS - FIST IN SHOW PET FOOD INC
SWOT Analysis - Fist in Show Pet Food Inc
SWOT Analysis - Fist in Show Pet Food Inc
Fist in Show Pet Food Inc SWOT Analysis
Internal Strengths and Weaknesses
| Sales Force
| Administrators and sales personnel at First in Show Pet Foods, Inc have acquired the necessary knowledge and experience from being a major manufacturer /producer with Show Circuit for show-dog kennels.
| Fist in Show Pet Food Inc. are employing Market Development Strategies as show-dog kennels product awareness increase. Conservative product distribution, i.e., initial rollout of product, such as distribution to Boston supermarkets with adjustment to enhance value to target market.The Transition/ shift to frozen food should invoke the consciousness that frozen foods are fresher than dry or canned foods and some dog treats. Market and Product flow into each other, and are inseparable as far as success is concerned.
| The Market that is selected is between 21 – 54 years old, with adequate advertisement coverage to reach each age group with Show Circuit projected ads. Pet-lovers corner in Newspaper, with coupons for discounts, Increase in TV ads would help perpetuate need to showcase brands, and products with 30-seconds ads dedicated to pets and pet-lovers.
| The concept of a mink rancher who originally formulated the product to improve the coat of his mink, after the product was perfected a nearby kennel owner started using it for his dogs.
| Superstores provides a significant guarantee that the company is on an upward spiral attracting customers who were slated as likely regular buyers compared to customers who are one-time buyers. Focus was on customers with a minimum income of $25,000, and current and future customers who are pet-lovers who treat their pets as family, these customers are viewed by the company as a select few who love their pets hence they buy Show Circuit products.
| First in Show Pet Foods, Inc guarantees a unique, high-quality product with 85% fresh meat with 15% containing the highest quality of fortified cereal.Show Circuit products have no additives or preservatives. Show Circuit follows federal standards and provides beef by-products, i.e. beef, liver, and chicken that meet the federal standards. .
| Administrators/ staff are not experienced salesmen/women of premium dog food outside the perimeters of show-dog-kennels.
| Initial distribution of Show Circuit represents 36% of the market share a very small amount. There is significant lack of awareness of Show Circuit’s brand outside of show-dog kennels. Show-dog customers are likely to visit Pet Superstores/Veterinarians; affecting market share of approximately 26%, meaning that Show Circuit will lose out on these customers because of lack of or no freezer space at these locations (stores)
| With a budget of $500,000 to $700,000 the company is significantly dwarfed by its competitors who are problematic especially if the competition increases its budget in light of new product competition. The Late Night TV show (Letterman) creates further budgetary problems for the company which pays a fortune to be on the show. Because of this large expenditure a significant amount of the target market will be excluded.
| R/D is necessary to identify and usher in the next wave of lucrative development as people and products diminish in interest and competition respectively. There is new research being conducted to explore new product line for the already identified target market, which means the company has to stay current in R/D in order to increase sales.
| Market Segmentation is a determining factor for First in Show Pet Foods Inc, the company can fail due to Market Segmentation because the target market which brings in $25, 000 per year are likely to shop...
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