Situation Analysis Memo - Industry Overview

Situation Analysis Memo - Industry Overview - Situation...

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Your Team’s Task Write a Situation Analysis for PetSmart. Your team’s goal: To best define the “pet parent” and provide promotional and communication strategies for PetSmart in targeting the “pet parent” with cause -related marketing efforts. Taken from the MarketResearch.com report, “U.S. Pet Market Outlook 2010-2011: Tapping into Post Recession Pet Parent Spending,” here are a few thoughts about the Pet Industry overall to help support your secondary data gathering for the Situation Analysis. From 2003 to 2009, pet for dogs and cats increased from 45% to 50%. In terms of pet ownership, households with larger income levels ($60,000+) rose 24% from 2005 to 2009. Good long term growth for pet industry as pets have a growing “coolness factor” with more integration in TV, movies, and celebrity owners Gen Y (age 18‐29) and Gen X (30 ‐44) cohorts are well ahead of the curve in terms of pet ownership Growing minority ownership of pets as well You’ve been asked to further research and define the “pet parent” by your client this semester. Here is the information you have been presented so far: The % of two ‐adult households without kids that own dogs or cats rose from 49% in 2003 to 54% in 2009. Without kids at home, the “pet parent” factor is at the core of the pet owners’ willingness to spend ever greater amounts of money on their pets… these people view pets as surrogate kids since not having children frees up time and income. This demographic is likely to spend lots of money on specialized services and products for
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Situation Analysis Memo - Industry Overview - Situation...

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