The product I will be importing is a mallard duck squeaky dog toy. I chose this product because I have had dogs all my life and have seen how expensive dog toys can be. I wanted to see for myself what the markup on a typical dog toy is. I also wanted to find a product that I might actually purchase for myself and my dog. This product is a luxury item for dogs. Not all dogs need or even use toys, and purchasing toys is not a necessity when owning a pet. However, some breeds require more stimulation than others and toys are essential to their well-being and the well-being of household items that could be used as a toy. The dog toy I am importing will provide mental stimulation and entertainment as well as let dogs use their natural instinct to
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The scientist who conducted this study, Stanley Coren, found that dogs have three types of intelligence: “instinctive (what the dog is bred to do), adaptive (how well the dog learns from its environment to solve problems) and working and obedience (the equivalent of school learning)” (APA, 2009). Based on these three types of intelligence, the mallard duck dog toy will help satisfy and stimulate their instinctive intelligence. Further benefits of providing dogs with toys include alleviating pain, lessening anxiety, dealing with boredom, and providing a type of physical exercise (Petworld, …show more content…
Of these 84 million, 60.2 million of these homes own a dog, which shows a significant target market size for dog toys (APPA, n.d.). According to the AVMA, in 2012 only 40.3 million homes owned a dog. The growth in dog ownership creates growth in the target market and a greater opportunity to sell dog toys. Over 90% of dog owners believe that dogs have a positive impact on their lives (Research and Markets, 2017). The unique bond between dog owners and dogs creates an opportunity for marketing towards emotional appeal and strengthening this bond. Millennials would be a great target market as they “tend to invest more time and money on their animal companions,” and have overtaken the baby boomers as the largest demographic of dog owners (Becker, 2018). According to Adweek, 75% of Americans in their 30s own a dog and consider their pet part of their family (Main, 2017). Over $15 billion was spent on dog supplies last year, including toys, and it is anticipated to grow by the end of 2018 (APPA, n.d.). The pet toy industry crossed the $1 billion-mark last year with roughly 4% annual growth. Furthermore, Business Researcher states that “spending on U.S. pet products is growing 50 percent faster than the overall retail sector” due to the increased “pet parenting” phenomenon (Arenofsky, 2017). The pet toy industry is a great opportunity for experimenting with
The scientist who conducted this study, Stanley Coren, found that dogs have three types of intelligence: “instinctive (what the dog is bred to do), adaptive (how well the dog learns from its environment to solve problems) and working and obedience (the equivalent of school learning)” (APA, 2009). Based on these three types of intelligence, the mallard duck dog toy will help satisfy and stimulate their instinctive intelligence. Further benefits of providing dogs with toys include alleviating pain, lessening anxiety, dealing with boredom, and providing a type of physical exercise (Petworld, …show more content…
Of these 84 million, 60.2 million of these homes own a dog, which shows a significant target market size for dog toys (APPA, n.d.). According to the AVMA, in 2012 only 40.3 million homes owned a dog. The growth in dog ownership creates growth in the target market and a greater opportunity to sell dog toys. Over 90% of dog owners believe that dogs have a positive impact on their lives (Research and Markets, 2017). The unique bond between dog owners and dogs creates an opportunity for marketing towards emotional appeal and strengthening this bond. Millennials would be a great target market as they “tend to invest more time and money on their animal companions,” and have overtaken the baby boomers as the largest demographic of dog owners (Becker, 2018). According to Adweek, 75% of Americans in their 30s own a dog and consider their pet part of their family (Main, 2017). Over $15 billion was spent on dog supplies last year, including toys, and it is anticipated to grow by the end of 2018 (APPA, n.d.). The pet toy industry crossed the $1 billion-mark last year with roughly 4% annual growth. Furthermore, Business Researcher states that “spending on U.S. pet products is growing 50 percent faster than the overall retail sector” due to the increased “pet parenting” phenomenon (Arenofsky, 2017). The pet toy industry is a great opportunity for experimenting with