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grpsmplfpsmpl - Mktg 649-01, Spring 2007 Group 9 Page: 1...

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Mktg 649-01, Spring 2007 Group 9 Page: 1 MKTG 649-01, Spring 2008 Group Project: Final Proposal Project Title: Petz by Ritz Prepared by: Group 9 Group Members: (your names) **** ****, **** ****, **** ****, **** **** INTRODUCTION The Ritz-Carlton prides itself on the gold standard of luxury and hospitality for its customers. For over a hundred years, it established its competency and built its strong brand name. With the growing bond between humans and their pets, the Ritz-Carlton needs to incorporate a better niche for itself to stay in tune with market trends, which is why our plan to expand its pet services into an extension of a pet hotel is essential. This proposal discusses the foundation of our marketing plan that introduces some of our internal and external analyses as well as our primary data collection methods. ENVIRONMENTAL CONTEXT/BACKGROUND OF PROBLEM As Americans are waiting longer and longer to get married, and more than likely waiting longer and longer to have children, more and more people are treating Fido to luxuries never before extended to them. The strength of this humanization of pets by these young professionals and also baby boomers turned empty nesters (Junek, 2006). These markets have more disposable income compared to other markets in which they will use it towards taking care of their animals to higher levels than in the past. The last few years have shown healthy growth in pet services. It is estimated that the pet services industry will reach $2.4 billion in 2005, up 40% from 2000 (Sabatini, 2006). According to the American Pet Products Manufacturers Association pet travel increased 33% in 2005 from the year before. A recent Travel Industry Association study boasts 29 million Americans traveling with their pets (Travelers Advantage, 2006). With all that pet-friendly travel, pet lodging in hotels and vacation rentals is up 28% in 2006 from 2003 (Will Boarding, 2006). United Airlines even lets Mileage Plus customers earn up to 1,200 frequent flier miles from PetClass travel (Travelers Advantage, 2006). A global upswing of pet products ranging from weight loss supplements and stress-relief sprays are constantly being introduced into the market. Over 50% of the market is from North America and Asia at a distant 2 nd at 17%. Services like Swedish massages, hot oil treatments, acupuncture and water aerobics are also on the rise as more and more Americans supplement their family with furry friends (Rowan, 2005). PROBLEM IDENTIFICATION
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grpsmplfpsmpl - Mktg 649-01, Spring 2007 Group 9 Page: 1...

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