The Creature Nannie
Market Analysis Summary
The Creature Nannie will develop a loyal customer base through the use of a simple initial advertisement in the Human Society newsletter, strategic alliances with veterinarians, and a word-of-mouth referral system. While this approach might seem a bit egotistical, based on the current service offerings for places to care for your canine, The Creature Nannie is warranted in being a bit proud and assuming. Their service offering is unique and superior and will develop a loyal customer base quickly.
4.1 Market Segmentation
The Creature Nannie’s target market are people who truly look out for their dog’s best interests and can afford a pet foster family. Dog kennels are sufficient in terms of the care of a dog while someone is on vacation, however, the canines are never truly happy. This is quite understandable, you would not like to be locked up in a sterile cage setting around lots of other dogs who are upset and vocal about it. Dogs from kennels typically come back dirty, with a strained voice, and quite unhappy. Most people write off the experience as an unavoidable cost of owning a dog and traveling. The Creature Nannie is targeting the market of people that believe there should be another alternative for the care of their dog.
The other component of the target market is the customers must have enough money to cover the difference in cost, up to 80% more a day than a kennel. Not everyone can afford this price variance. The typical customer will have a household income above $60,000.
| Market Analysis | |||||||
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | |||
| Potential Customers | Growth | CAGR | |||||
| Dog owners | 9% | 17,876 | 19,485 | 21,239 | 23,151 | 25,235 | 9.00% |
| Other | 0% | 0 | 0 | 0 | 0 | 0 | 0.00% |
| Total | 9.00% | 17,876 | 19,485 | 21,239 | 23,151 | 25,235 | 9.00% |
4.2 Target Market Segment Strategy
The Creature Nannie believes that their service is so distinct and valuable, with no competition, that little will be needed to build a customer base other than faithfully providing their service. The Creature Nannie will be working with respected veterinarians as well as placing an advertisement in the Human Society newsletter as the means of communicating The Creature Nannie’s availability to the general public. These will be the only strategies used to develop a loyal customer base.
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