Situational Analysis
Many companies in the market expand exponentially or seemingly overnight like social media
influencers. What contributes to the
... [Show More] rapid growth is not that the product is the same but the
product's value. Currently, pet ownership has been on the rise these past few years, and this has
caused a massive increase in the pet food industry for pet food companies. The increase in pet
ownership corresponds to reports the ASPCA has released. About 78 million dogs are owned in
the U.S., and 44% of these dogs are household pets (ASPCA, n.d.). How the dogs are acquired is
not taken into consideration. Most pet food companies focus on growth in the industry and its
expected growth over the next five years, which is anticipated to be 4.5% (Puac, 2020). Due to
the massive expansion in the industry MSH Brands has competitively made its mark as one of
the top five competitors in the pet food industry, even with the Covid-19 pandemic. Presently the
firm has total sales of over 5 billion dollars and has earned 5% of the market as a top-five
competitor, but desires to be the leading competitor in the pet food industry.
About a month ago, MSH Brands conducted a SWOT analysis to determine how the firm can
move forward to become the leading competitor within the industry and outperform its current
top competitor. The analysis revealed the firm is highly competent in creating and delivering
high-quality dog food to its consumers but is weakened by its lack of variety in pet food for
dogs. After reviewing the analysis, MSH decided to expand its current product line to include
fresh pet food for dogs. The firm concluded expanding the product line to include fresh dog food
would catapult the company to its desired level within the industry; thus, HealthyPET was
created. MSH is not the only pet food company in the market to produce fresh pet food for dogs;
however, the firm will be the only company that caters to dogs' dietary needs and educates its
owners. Expanding the product line to include HealthyPET is an opportunity for MSH to
strengthen its position within the industry, increase profitability and market share.
Customers and Intermediaries
There are many reasons why a company becomes successful. Its notable success can be
attributed to a well-prepared business plan, excellent budgeting of finances, and a solid strategic
management plan. One of the top reasons a firm performs exceptionally well within its industry
is Consumers. Without customers, the firm cannot generate revenue, earn profits, or gain market
share. Here at MSH, customers and their pets are the core of the firms' mission and vision.
MSH's reputation with its customers is a top priority. Like EF Hutton, when consumers speak,
MSH listens. Consumer reviews are monitored on the MSH Brands website; when complaints
are submitted, MSH responds to the consumer's complaints and the needs they may post within
twenty-four hours. The firm understands the concerns pet owners have regarding their pets, and
the firm is not only listening but acknowledging those concerns and needs by creating
HealthyPET.
A survey conducted by the American Pet Products Association (APPA) for 2019-2020 revealed
that 85 million families owned pets in the U.S. and 63.4 million of these pets were dogs (iii.org,
n.d.) In 2020, MSH Brands earned 5% of the surveyed market, which totals out to be 4.25
2
MSH BRANDS DIGITAL MARKETING PLAN 3
million customers. MSH is younger and smaller than its top competitor and has increased its
consumer base every year, which illustrates its competitive advantage. However, the firm has not
achieved its optimum potential as a brand. MSH has realized to increase brand awareness and
potential, the firm must assume a new marketing approach. In order to increase the consumer
base, MSH's marketing strategy will focus most on marketing HealtyPET digitally.
Digital outlets such as online stores and social media are suitable sources to market HealthyPET
since the chosen target market is Millennials. Millennials are very selective about what they feed
their pets, and MSH understands the importance of providing pets with excellent food sources, as
we do our families. Millennials or Gen Z make up 31% of pet ownership in the U.S., and
statistics have uncovered that 72% of pet owners purchase pet food online (Puac, 2020).
Presently MSH Brands website is the only presence the firm has online. However, launching
HealthyPET will increase the firms' online existence, using social media and online stores to
market the new product. Lastly, creating social media pages on Facebook, Instagram, and
YouTube will increase brand awareness amongst the target market since these are platforms the
cohort utilizes the most. Marketing HealthyPET digitally will increase profitability, market
share, and the consumer base.
Structuring an appropriate distribution channel for a firm is one of the most critical decisions that
must be made in marketing (Britannica, n.d.). At MSH, we sell our products to the consumer
directly and through intermediaries. . Currently, the brand is found on our website, Amazon,
Chewy.com, and PetCo. The firm also distributes products to veterinarian offices and select pet
food stores. Brick and mortar stores remain within our distribution channel because 68% of pet
owners are repeat customers at pet food stores to purchase food (Puac, 2020). [Show Less]