Marketing is essential for every business, be it a small household business or a large multinational group. All businesses depend on marketing in one way or the other. Setting of goals according to entrepreneur’s visions marks the starting o f the plan. It is better to do proper research and documentation before launching a product in the market or else the results will not be according to one’s thinking. Raymond Morose is the owner of Pet Palace and has been running this business for the last 44 years (Manta, 2010). Raymond Morose is running the business with a small staff but is very clear about his goals, as he has set his goals according to SMART approach. SMART stands for specific, measurable, achievable, relevant, and time-based and
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Current trend in the market is that people prefer environment friendly things (American Pet Products Association, 2010). Allergy Be-Gone uses environment friendly ingredients and can capture this edge by proper marketing. Main threats include large established pet care companies such as Hartz. They are already manufacturing related product and can easily launch a similar product at a much lower price because of economies of scale effect.
Marketing Research Approach Just like all other products, marketing will play a vital role in the success of Allergy Be-Gone. Marketing strategy will be defined and designed based on market research. Marketing information systems (MIS) will be used to design the marketing plan. Use of Marketing Information Systems will allow the marketers to properly plan each and every activity of the marketing plan. It will also enable them to keep an eye on the execution of marketing plan. Information collected through MIS is organized and more useful than traditional information collection. Information is collected through different techniques such as questionnaires and customer surveys. Constant monitoring is done through analysis of customer feedback. Marketers will decide how will they market the product based on information collected and then its progress will be monitored constantly through customer feedback. The constant information collection and analysis can also be