Essay Example - Pet Food Target Market Analysis

The assessment of the market characteristics of where a commodity is to be sold is referred to as target market analysis. It entails a highlight of the essential details of the prospective customers. The analysis aids in designing a product and promotional methods that will be used to ensure market penetration and high sales volume. In this case, there is a product on offer, which is pet food, hence the need to analyze the target market's characteristics. There needs to be adequate knowledge about the characteristics of pet owners, to enable the design of an offer that will be effectively adopted by the buyers. Ensuring consistency between the buyers' preferences and those of the commodity is desirable for the target market analysis. That will enable the organization to gain a sustainable competitive advantage from the sale of pet food. The target market analysis covers the market's geographic, demographic, psychographic, and wants and needs. With that knowledge, there is a high probability of satisfying their needs. A highlight of the pet food target market is conducted, which will enhance the food's adoption by prospective buyers.

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Considering the demographic characteristics, the target market is individuals between 18 to 34 years, which will account for the majority of purchases. That is because they are young adults, lonely, and with some disposable income. Furthermore, there is the rest of the market, older people and those below 18. Most of them have less disposable income, or have adequate company; therefore, less need for pets. From the market analysis, pet food customers are, therefore, individuals between 18 to 34 years old because of their need for a company and availability of disposable income because of fewer expenditure commitments (Bohrer, 2011). The other characteristic of the buyers takes a geographic dimension, whereby the location of the buyers is considered. The target market is within Glendale City because it is within the locality of the organization. That enables the organization to understand the needs of the market because it is familiar with the people within the locality. However, with growth, the sales will expand to neighboring locations as the scale of demand and brand power grows. The supply chain for the food will adapt to the increases, serving the customers better.

The other essential characteristic of the target market is its psychographic characteristic. The target market is composed of individuals that are passionate about pets. They should be interested in the better welfare of pets by feeding them well. By being interested in feeding the pets well, there will be high demand for pet food, which will lead to higher sales in the long run. Food quality here is essential because people passionate about animal welfare prefer food that is natural and safe for their pets. Therefore, in marketing, the pet food's safety and the natural component will be highlighted to stimulate the demand associated with it. The wants and needs of the target market is another specification that will have to be highlighted. That is in the form of the preferences that are associated with pet food. For example, the food should be dry and packed in containers that are easy to use without compromising food quality (Pirsich et al., 2017). Furthermore, the directions associated with feeding the pets, for example, portions, and should be clear. That will ensure the needs, wants and preferences of the customers are addressed effectively. That will ensure the adoption of pet food by the market.

A target market analysis is meant to address the various characteristics of the market a commodity is presented to. The target market specifications are in various dimensions as demographic, geographic, and psychographic characteristics. When such specifications concerning a target market are known with precision, there can be planning on how to better satisfy the customers. That will ensure better market penetration and the gaining of sustainable competitive advantage in the market. On that basis, the launching of the commodity will be easier because of its consistency with the characteristics of the target market's preferences.

References

Bohrer, T. (2011). Pet food packaging: Evolution, revolution & innovation. Paper, Film and Foil Converter. https://search.proquest.com/openview/86af3c47ddd21b736a0a6123724b7fe3/1?pq-origsite=gscholar&cbl=48979

Pirsich, W., von Hardenberg, L. M., & Theuvsen, L. (2017). The Pet Food Industry: An innovative Distribution Channel for Marketing Feed Products from Welfare Friendly Production to Consumers?. International Journal on Food System Dynamics, 8(3), 250-261. http://131.220.45.179/ojs/index.php/fsd/article/view/836/723