PetTrak is a new tracking and location finding device product based on GPS (global
positioning system) and GPRS (mobile phone technology). Attached to the pets collar,
PetTrak is aimed at the cat and dog market. In addition to pet accessories owners spend
£215m per annum on pet healthcare and £1.6bn is spent annually on pet food. Mintel
point to a trend of cat and dog owners becoming increasingly anthropomorphic, meaning
they treat their pets like little humans. Mintel highlights that the trends in human food
consumption are being witnessed in the pet food market, for example organic and
provenance-assured foods are becoming prevalent.
The primary driver for owning a pet is companionship, and 81% of owners claim to treat
their pets as part of the family. However with our busy lifestyles we regularly spends
days and nights away from our companions, particularly cats who like to assert their
independence by roaming through the neighbourhood and beyond. It is, therefore, a cause
of great anxiety when a cherished pet goes missing.
Target Market for security device is all families and people with age groups of 40+.
These kinds of age groups are those people who are living alone in their homes and have
to leave their animals away when they are out. These devices help to take good care of
the product as it contains real good time tracking device. Target Market can be young
females, working full time and of higher socio-economic groups. Their internet usage is
higher than average and their TV usage is lower. They are generally in one or two person
households. Dog owners show an even male-female profile, however they are owned by
lower socio economic groups. They are heavy TV watchers, light internet users and more
likely to be in family life-stage and therefore larger households.
Some important questions to be asked while doing the research-
1. Are your target audience male or female?
2. How old are they?
3. Geographic and demographic information about the customers.
4. What do they earn for living?
5. In case of luxury items, do ask the consumer how much money they make
There used to be a time when business owners marketing their products in age groups of
18-49 years of age, but now the mentality has changed. It’s a misconception to talk about
marketplace in any kind of general way. Decision lies these days in hands of marketing
managers to market their product region wise, gender wise, or lifestyle wise.
To get better knowledge about the business product, product managers sometimes
combine that with physical conditions related to age or personal lives. Today, the
consumers are smart and they don’t like to be fooled by marketers so the product
managers need to target the right audience.
THE SECURITY DEVICE IS FOR PEOPLE WHO LEAVE THEIR CATS AND DOGS
ALONE IN THEIR HOUSE AND GO OUT OF TOWN. IT HAS A CERTAIN RANGE
LIMIT AND IS THE BEST WAY TO ENSURE THAT YOUR LOVED PET IS SAFE
There was a time when alarm system companies were not that popular as only high
income groups could buy one. Today the industry is different. Alarm systems are known
as security system and the sales have gone up significantly. Competition is there out in
the market and the companies are trying their best for make their presence felt in market.
Companies need to approach for 360 degree marketing campaign to reach to people.
Having an event organised would be great where live demonstration can be given of all
the devices. Just selling them on the shelves won’t do the trick.
Mainly on line their targeting via facebook (46,120 people) and a similar number on
thepet.net. Limited promotional activities based around incentivising customers to
recommend friends as the single most cost effective method of attracting new
subscribers. Advertising will be based mostly around advertorials in key publication to
drive awareness and knowledge of the concept and brand. In year two, a major campaign
is proposed on the side panel of a major pet food brand, such as Whiskers, will be rolled
out Outdoor advertising media will be developed in year three.
Sales promotion can be tried by Pettrax in this case. Below the Line promotion is the best
possible way to do it. A pull strategy encouraging consumers to purchase the pettrax
product and a push strategy for distribution channel who can stock their products. Some
other way for sales promotion techniques can be price promotion. Offering a product a
cheaper price compared to competitors by cutting cost. Competitions and prizes and live
demonstration in malls could attract more consumers.
Customer service like dissatisfaction can also entitle pettrax to refund the entire amount
back within certain time limit. This will also increase customer satisfaction and definitely
people trying the product will increase.
Brand development is being your voice heard in case of competition in crowded market
place. Wherever, businesses are seeking new and effective to reach out to the people and
create brand awareness. An effective brand strategy will always ensure a brands success.
The main focus of Pettrax will be to focus on customer who love their animals a lot and
also care about them. The message by Pettrax should be unique and different to potential
customers. The main purpose of developing brand will be effective brand development
and is not meant to be comprehensive.
Identifying the core values is considered the beginning stage of brand development
strategy. Honesty, client satisfaction, integrity are some of the aspect that the company
should ensure for successful business model. Once the core values have been identified,
the work towards effective brand proposition begins. A research needs to be conducted to
find out the target audience, weakness, strengths, forecast, market picture, potential
direction and growth. Identifying who the target audience is and to know what their needs
and desires are is the primary research work. Starting research from shopping malls by
knowing customers age, likes dislikes, shopping habits are some of the good factors to
What does your competitors offer is another important factor to consider. Does Pettrax
serve the needs better than the competition is right observation to be considered. Pettrax
advertising campaigns needs to serve the right message across to the target audience.
LOW COST PROCESS
Pettrax should adapt the low cost process so that it can make standard products at low
cost than its competitors.
Good location for factories can attract good incentive from government and also revice
Product variety and family size.
Product variety and size of operations can be considered as an added advantage.
An organization while producing a product higher in quality than competitors can
increase its sales volume and also command higher pricing.
Some of the elements of operational strategy are-
1. Designing of product system
2. Product and service design
3. Technology selection and process development
4. Allocation of resources
5. Facility planning
Financial Management /Cost control
Financial management will help manage future of a person and also entitle positive cash
flaw. It will also help to control financial assets.
Managers in organizations must be entitled to achieve the following-
• Interpret financial reports
• Improve allocation of working capital
• Review cost forecasting
• Understand all the techniques used in projects
• Understand valuation framework
Estimated Financial Investment
It is believed that brand endorsement will cost the company. Battery and charging option
c shall be considered. Since it will reduce the tracking time, it will not increase the cost of
the product. Having some specialized skill workers for web designing is a must and the
company has to look into the matter on a serious note.
Launching in the Spring of 2009, the objective is to move toward a purchase price of
£40-50 with a monthly fee of between £5 and £10 depending upon the level of services
subscription (see trajectory). Target sales in the first year are 15,000 units making a
revenue forecast of £1.5m, rising to nearly 100,000 units in third year with revenue of
over £11m. High gross profit allowing substantial advertising and promotional activity
£137k in year one, rising to £533k in year 3; a total spend over three years of £1m
The most important aspect is to win the hearts of consumers and get them more attached
to the brand. Positive emotional relationship between consumers and Pettrax will come
from emotional attachment and also support. Pettrax needs to build the brand on promise
that it delivers positive and unique emotional qualities.
Brand Proposition suggestion-
• Clear brand core values.
• Unique message to you target audience.
• Multiple marketing like online presence and print ads.
• Pettrax should be capable to changing marketing environment.
• Incorporate positive emotional element that is better.