Based on the demographic data in Table A, what would be the best target(s) market for K9-
Question:
Based on the demographic data in Table A, what would be the best target(s) market for K9-
Quenchers assuming they are targeting the premium market?
The market for pet products and services is large and growing, with a current estimated size of $47 billion.
It’s not just dry dog food anymore. Pet owners refer to themselves as “pet parents,” put their animals in “pet motels,” and pamper them with spa-like treatment. Pet owners, it seems, are a very interesting and committed group of folks. Increasingly, pet owners are “humanizing”
their pets, with 92 percent considering their pets to be another member of the family. According to survey results from the American Animal Hospital Association, of pet owners surveyed, 63 percent tell their pets they love them at least once a day, 59 percent celebrate their pet’s birthday, and 66 percent prepare special foods for their pet!
These purchases, attitudes, and behaviors belong to the premium pet market, which consists of some 17 million people across a number of subsegments, including (1) affl uents ($150,000 annual income), (2) specialty shoppers (shop only in specialty stores and online), (3) married with children, (4) empty nesters, (5) dual-income households with no kids, and (6) singles with no children. No longer does the presence of children drive pet ownership and spending. Today, pet ownership and pampering is a lifestyle, with pets being part of the family.
Step by Step Answer:
Consumer Behavior Building Marketing Strategy
ISBN: 9780073381107
11th Edition
Authors: Delbert Hawkins, David L Mothersbaugh, Roger Best