Marketing - The Pet Food Market Essay -- Business Management Studies

7. Carry out a SWOT analysis for this market with all inclusions referenced to the information source. STRENGTH: The increasing consciousness of people regarding the health of their pets leads to a focus on nutritious food which helps increasing the life span of their beloved animals. This benefits the pet food industry greatly as it leads to increased demand and allows manufacturers to set their prices for selected products at a high level. (PFMA) Increased competition has lead to greater effort for developing new products in order to meet customers demand. Therefore a lot of money has been put into Research and Development strategies, stimulating technical progress in this industry. (Mars, 2003) Scientific evidence about the increased life of pets eating healthy and high quality food is well known amongst the people. Supermarkets offering own-brand pet foods, thus contributing to competition. (Ciao, 2004) Owner of pets gain health benefits, encouraging people to hold a pet WEAKNESS: Large, established companies such as Masterfoods, Nestlà ¨ and P&G may impede competition and prevent smaller firms from entrance. Some companies are reluctant to improve packaging and introducing more environmental-friendly production processes for financial reasons. Limited advertisement on high street, where pet owners are likely to notice it and get known to the benefits of the product Limited product range, not enough variation satisfying the cus...