The firms current strategy is place the dog food next

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The firm’s current strategy is place the dog food next to the people’s frozen food. 4. Current Promotion a. Describe the current promotions the firm uses to communicate those products? They provide price-off coupon. b. Describe the current promotional strategy the firm uses to communicate those products? The dollar amount coupon has yet to be determined. b. Current External Audit i. Current Market Structure 1. Current Market a. State the firm’s current market. How big is the market? The firm’s current market is the dog owners who want to buy dog food. Size of the market: 78.2 million*1.2%*25%=234600 owners that would interest in their production. 2. Market Segmentation Bases and Segments a. State the base(s) upon which the firm currently segments their market. What are the current segments? Age: 21-54, income: greater than $25,000 3. Target Market and Target Market Strategy a. State the firm’s current target market(s) and current target market strategy. Target market is singles and couples between 21 to 54 years old, who has income over $25,000. 4. Market Structure a. Create a layout illustrating the firm’s current market structure
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5. Market and Target Market(s) Sales Potential a. Estimate (in $ sales revenue) the current overall market sales potential and the current target market(s) sales potential using the chain ratio method Forecast sales=number of estimated buyers*Target market* Distribution/ Communication coverage*Average offering unit *Average quantity purchased (1pouches per month) =78.2 million *1.2%*25%*($11.08/12) * 12=2,599,368 ii. Current Target Market Characteristics 1. Describe the current target market’s: a. Increasing or Decreasing in Size Potential Increase in size potential b. Buying Power the average cost on dogs are $3,197 for per dog per year c. Needs People who want to provide a better food d. Buying Behavior and Preferences 10% of dog owners buy frozen dog’s food. iii. Current Impacting Factors 1. Report any current internal factors that may impact the firm’s ability to market to the target market: a. Product factors the cost of product is higher than other kind of dog food b. Price factors The price of this kind of new dog food is much higher c. Place factors There is no information about place factors. d. Promotion factors The package should suitable for the supermarket’s freezer. 2. Report any current external factors that may impact the firm or its target market: a. Competitive There are 50 dog food manufactories and 350 dog food brands. There are 5 main companies account 75% of U.S dog food sales. b. Social The US family think dogs as their family member. c. Demographical The Great Boston area own 1.2% of US population. d. Economic The median income in the city of Boston is $54,485, at the same time, the national median household income is $53,482. US dog food market kennel market retail market dry canned treats frozen food
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e. Technological the thawing time is long how long the food will keep in the refrigerator.
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  • Fall '15
  • Marketing, Household income in the United States, dog food

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