MKT 113: Final Project

Added on - 19 Sep 2019

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Running head: ROYAL CANIN PRODUCT OVERVIEWMKT 113: Final Project Part I FinalSubmission Royal Canin ProductOverview[Document subtitle]
1ROYAL CANIN PRODUCT OVERVIEWRoyal Canin is a U.S. based company which provides dog and cat food. It is engaged in selling,marketing, and production of healthy pet food for dogs and cats all over the world. The companyis planning to launch a new product Feline Gains for dogs which will help them to stay fit andget proper nutrients. This paper will brief about this new product and will give the explanationabout how it can invade new markets. It will also discuss the SWOT Analysis and relevantmarketing strategies that may help the company to flourish worldwide.(bag et al., 2017).StrengthsWeaknessThe Product Feline Ganz has a widedistribution prospect as the company operatesglobally.Consumers are getting moreinterested in premium quality andhealthy ingredients in pet foodwhich is not present in Royal Canin'snew product.The brand is widely recognized, and there ishigh trust in quality and services offered bythem which can help to attract the customers.The online rating by consumers is verylow.A lot of campaigning and advertising is donefor the product which will help customers getaware about this new productOpportunitiesThreatsThere is a huge prospect for growth of thisproduct as there are various nutritional andhealth food markets.There is high competition in the marketfrom both organic and private labels of petfoods.The dogs are encouraged to maintain theirweight. Therefore this product may attractmany consumers of that segment.Since the product is catering only to aparticular segment of dogs, the otherbrands may get a benefit over this by
2ROYAL CANIN PRODUCT OVERVIEWselling their products that cater to all thesegments.Many people own dogs now a days, and theindustry pattern is changing which may provehelpful for this product to launch itself in themarket.SWOT analysis helps to prepare the activities and strategies for the market. For example-endorsing the product for a particular segment of dog can support the weight gain and support ofanimals, which may eventually lead to reaching out to global markets and attract the othersegments of the animals as well("Royal Canin financial SWOT analysis - Strengths,Weaknesses, Opportunities, Threats of Royal Canin. Find 100,000 more reports an", 2017).The productivity of this business can be increased by deciding upon the markets for this businessthat is to be targeted. This product can be launched in a market place that includes bothestablished families and those which are new to the area. These can be searched along theinstallations of the large military base as the demographics which surrounds the militaryinstallations include both young and old, married and single families. The target market for thisproduct may include stores for a military base like post exchanges andcommissaries, largecorporations and grocery stores like Walmart and Target. The target age group for this productwill be from 21 to 60 years. The breakdown of Psychograph involves the mindset which isfitness freak both from the physical and mental perspective and those who are dog lovers as theyare very conscious of the health and interests of their pets. From a Geographic perspective, theinstallations of the military are all over the world which can pave the way for new markets. Thisproduct can be widely used in zoos, agencies for adopting animals, dog pounds, etc. Also, the
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