Start collecting information on the description of the target market for your selected product. This should include the following information about your target customers:
• Where do they shop and why?
• How much are they willing and able to spend?
• What are their ethnographic and attitudinal characteristics?
• What are the characteristics of their behavior patterns?
• How can you describe their lifestyles and activities?
• What are their concerns and wants regarding current similar products/offerings?
All written assignments and responses should follow APA rules for attributing sources.
Hi this the work that you provided for me for the last assignment and I want to keep working on the same product to develop the research paper on .
The new product to be introduced is dog treadmill designed to be used at will. It is a revamped model of existing pet treadmills used in veterinary and pet rehab facilities. The difference is the new features. The product will have a tread covered with a soft, grass-like fabric that is wear resistant, but can be replaced when needed. The grass-like fabric is designed to give the dog the impression of walking on the lawn.
One advantage of the product, is that the dog owner can connect a toy or some other item to the frame, to encourage the dog to get on and 'walk.' It also comes with a built in music box that plays inviting noises to get the dog's attention, but only when the dog steps on the tread and the sensors detect the weight of the dog. The treadmill is a non-motorized version that is viewed as a safe item to use, even when the pet owner is away from home. Therefore, it is less complex than existing motorized versions used in animal therapy practices. The other advantage is that the product is more inviting, with its grass-like fabric covering. This tread is slightly more complex than other treadmill models, as it can be removed and replaced.
Value, Use, Risk, & Price:
The value of this product to pet owners, is that it can reduce boredom and the negative behaviors that occur when dogs are left home alone. Additionally, the product helps prevent overweight and obesity in dogs, which leads to additional health problems. The risk is that pet owners may be fearful or hesitant to buy a product that can be used at will, without supervision. Additional risks involve the willingness of pet owners to pay the price of the product, when they are unsure it will offer any results, in terms of curbing boredom behaviors and weight maintenance. Trust is a risk when an existing product is designed to be used in a novel way or context. Change and unpredictability are additional risks, as trends in pet care change with emerging technologies (Jerrard, Barnes, & Reid, 2008)
The product is priced to reflect its simplicity, while also representing the value to dog owners. The motorized version of this product ranges from $450 to $700 in price, while a non-motorized pet wheel is priced just over $50. The new non-motorized pet treadmill is more aesthetically pleasing to pet owners and less intimidating to pets than the wheel. An appropriate price for the product is $199.
Target Market:
The target market for this product includes owners of all dog breeds, particularly working Dog owners who must leave their pets alone for several hours. Elderly dog owners may represent another market segment, as they may be less mobile and less able to take their dogs for daily walks, particularly in cold and/or rainy weather. A separate segment includes pet supply stores and animal health retailers that typically sell pet care and pet health products.
SET Factors
Social
Pet owners often take their dogs to parks so they can socialize and exercise. However, the weather does not always permit this activity. Many dog owners do not live near a dog park or have pets that are not as well socialized as others. Pet owners who leave their pets at home for several hours face challenges, in that their dogs can develop social behavior issues, due to lack of attention. The social factors of dogs developing negative behaviors may be the driving force in pet owners wanting to purchase the product, to help curb behaviors related to boredom. For these pet owners, a dog that is less bored is more likely to behavior in a socially acceptable manner, which is a source of pride and accomplishment for the dog owner.
Economic:
The economic factors related to the product are the expenses related to dog behavior and training classes. While such classes are relatively inexpensive, they may be less helpful for dogs left home alone. For these pet owners, the dog treadmill may represent a better value. Consumers are usually willing to pay a certain price for a sought after product (Rutio, 2007). The product is not currently sought after, though higher price and lack of utility of electric models (cannot be used when dog owner is away, due to safety reasons) is typically higher than dog owners may be willing to spend on such a product. The newly revised dog treadmill is likely to represent a better value to dog owners, as there are fewer safety concerns when used without supervision, the product is priced affordably for most dog owners, and the more inviting look may urge dogs to use the product more frequently.
Technological:
The technological influence in a product is often a result of an added value feature. For the newly developed dog treadmill, less technology (no power) means it can be used without having a power cord. Users are less likely to become frustrated. The only electronic portion of the product is the music box/sound effect device that mimics barking and sounds to draw the dog's attention. The product is not too technologically advanced for dog owners to reconsider thepurchase. The only preparation that may be necessary is to turn on the music/sound machine. Petrovic (2010) notes that there is a high technological acceptance among young adults under age 25. However, this segment makes up only a portion of working dog owners or those who may consider purchasing the product. The lack of advanced technological function makes it more appealing to aging dog owners, to families with children, and to many of the young adults, who don't have time to spend programming or operating a device as they prepare to leave the house.
Jerrard, R.N., Barnes, N., & Reid, A. (2008). Design, risk, and new product development in five small creative companies. International Journal of Design, 2(1). Retrieved June 2, 2014 from
https://www.ijdesign.org/ojs/index.php/IJDesign/article/view/218/145.
Petrovic, D. (2010). Analysis of consumer behavior online. Retrieved June 2, 2014 from
https://analogik.com/articles/227/analysis-of-consumer-behaviour-online.
Routio, P. (2007). Descriptive study of economy. Retrieved June 2, 2014 from
https://www2.uiah.fi/projects/metodi/156.htm#kasite.