Unleashed, created by a business at Butler University, is an advanced product, currently in the process of development, that completely revolutionizes the dog walking experience. It takes a once strenuous task and changes it into a stress free and positive experience for the pet as well as his owner. Unleashed is a collar that allows you to unleash your canine and go for walks without the hassle of lunging and pulling. With this product, pet owners can venture out with their pups without all of the hassle from a leash. The technology in this collar is similar to that of the technology used in invisible fences. Think of this as a mobile invisible fence. Customers will simply program the settings to the distance that they will allow …show more content…
The market for goods and services relating to the pet industry as well as the relevance that the pet industry has today will be explored. The demand for pets and pet products will be discussed along with this information. After looking at the research findings, conclusions will be drawn as to how the Unleashed product and company will fit into this industry given the current circumstances. The purpose of this research is to explore the need for this product and the demand for new items in the pet industry as well as to see how the industry has grown through analyzation of revenue and pet ownership. Challenges that are presented in the pet industry to businesses will also be …show more content…
Pet owners can be found in more than just the United States. According to the First Research database, an overview of the Pet and Pet Supplies Stores stated that, “The global pet and pet supply store market is concentrated in the Americas, Europe, and the Asia/Pacific region; pets are less common in South Asia, Africa, and the Middle East…However, the largest pet market by a wide margin is the US” (2016). Pets are incredibly popular in the United States. Many people have or have had pets in their household and this is something that has not changed much over time. No matter the economic circumstances, people still own pets. The pet industry operates separately from economic trends. It seems that the pet industry has maintained steady sales every year. People have emotional attachments to their pets, which means that pets will be staying in homes, regardless of economic depressions or recessions. Of course, food is the most popular expenditure in the pet supplies industry because it is the most essential. In fact, The American Pet Products Association (APPA) estimated that $23.05 billion dollars were spent by pet owners on food products in the United States of America during the year of 2015 (“Pet Industry Market,” n.d.). The APPA also found that not far behind was an estimated $14.28 billion dollars that was spent on supplies for pets, including medical supplies. (“Pet Industry Market,” n.d.).