MKT 113: Final Project Part I Milestone Two
Pawsitive Palates Product Overview
Taylor Brown
Southern New Hampshire University
The purpose of this paper is to provide insight into the new product put forward by
Potbelly Pets incorporated. The newest product line in all natural, non-GMO, healthy pet food
that's sure to leave your pet satisfied while also obtaining the necessary nutritional value to keep
your pet healthy and strong. This paper will also shed light as to the intended market for the
product and how it will satisfy a need for an oversaturated market in need of new blood.
Potbelly Pets Inc. has conducted business for 15 years, operates in 10 unique states,
including 4 in Arkansas where it's headquarters reside. In order to keep up with an ever changing
market as it pertains to pet food, Potbelly Pets has decided to launch a new product line that will
appeal to folks looking to make a "pawsitive" change to their furry friends diet.
In order to determine the best course of action regarding its latest product line, a thorough
SWOT analysis is recommended to examine strengths and weaknesses.
Pawsitive Palates SWOT Analysis
Strengths
Weaknesses
High Quality Ingredients Bio-Degradeable packaging Low cost production and shipping.
Lack of credibility and reputation starting out Finding partners to reduce production costs. Initial product pricing may be too much for consumers new to the brand.
Low cost advertising through social media advertisements Limited regulation and barrier to entry Optimal profit margins
Established companies with a large grip on the market Competitors with lower production costs able to flood market Not enough exposure to various market platforms. Threats
Opportunities
Pawsitive Palates All Natural Pet Food
Some of the strengths include being a provider of high quality ingredients, which include
organic, all natural ingredients that are packaged in a bio-degradable, environmentally friendly
package. Other strengths in the analysis are identified as having a great low cost production and
shipping advantage which will allow the business to keep margins low.
Opportunities include limited governmental regulation and barrier to entry, optimal profit
margins, and low cost advertising with social media among other things.
The target market of Pawsitive Palates' is for individuals looking to ensure that their pets
are obtaining their daily nutrients and consciously looking to provide their pets with a healthy
food composed of all natural ingredients. While there is no hard rule on a specific geographic or
demographic for this product, this will be a target that appeals to individuals who are looking to
provide their pets with high quality food on an affordable budget. According to Zion Market
Research, "The US pet food market is expected to reach $30 billion in 2022 and is anticipated to
grow at a compound annual growth rate (CAGR) of 3.36% between 2017 and 2022. Given this
information, there is a clear demand for a product that allows individuals to ensure their pets are
well fed and cared for. Afterall, folks living on their own, or folks with small families