Launching Dog Toy Hera: Business Plan

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Objectives of the Business

In terms of the objectives, thee business will focus on the following aspect and all the activities should be aligned with reference to such objectives:

- Introducing and developing and maintaining a sustainable and profitable pet product business, which will design, manufacture and market high quality and innovative pet products, especially for the pet dogs.

- To bring the product successfully into the US and European market by the start of January 2016.

- Achieving the following sales volume targets for the initial years of the business:

- Year 1: sales to recover the cost of the products, the cost of launching the product, and the cost of operations, with a moderate profit margin.

- Year 2: increase the sales and the profitability margin by 15 percent as compared to the first year of product sales.

- Year 3: to increase the sales and the profitability margin by 25 percent as compared to the first year of sales and operations in US and Europe.

- To reach the breakeven point within the first 10 months of operations and gaining profitability during the next 2 months of the first year.

Marketing objectives

- To develop customer awareness about the products so that they become customers for the business.

- To develop and maintain relationships within all segments of the target market so that the business creates value for the customer and keeps them up to date with fun solutions for their pets.

- To implement the marketing campaign for the target market of the company through using mediums and channels such advertisements, local magazines and new papers, flyers, social media marketing, and through word of mouth referrals.

Mission

The pet owners seek to have fun with their pets while taking care of them in the best manner possible. Therefore, the mission of this business will be to provide high quality, and innovative fun toys for the dogs so that it promotes their health and learning. Also part of our mission is to make it easy for the owners to manage their pets because toys allow the owners to train their pet ,and engages them so that they do not disturb their owners at a time when they do not want be disturbed.

Key to success

- The first key to success is the quality of the toys designed to cater the safety and fun needs of both the dogs and the owners. The sales will serve as the primary source of income, and such sales will be based on formulating innovative and world class toys with the best usability and design for the dogs, and through using the most appropriate materials.

- Strategic Niche marketing will also be another source of success for the business. This requires the business to market a small number of high quality and innovative products. The consumer that forms the targeted niche market for the business, must have awareness and knowledge for the product in terms of its fun and benefits for the dogs. This will enable the business to ensure market acceptance and market penetration. The marketing strategy for the business should therefore reflects these aspects.

- Strategic partnerships or Alliances also serve as key to success as the business will rely on strategic partners for the purpose delivering and marketing the dog toy Hera. The establishment and the maintenance of such partnership carries a lot of importance for the introduction, growth and sustainability of the business both in USA and in Europe.

Company summary

The business focuses on developing and manufacturing innovative dog toys that enable the owners to train their dogs in a playful manner and allowing them to develop a sound health and mind. The business uses extensive research of the animal psychology in terms of designing its products so that the toys are not only fun for the dogs, but they bring an effective impact in terms of their learning, and in terms of their health. The mission of this business is facilitate the owners by making it easy for them to manage their pets.

Sustainable competitive advantage

Form and Functions of the Product

Most of the product in the pet industry today are simply design for providing the dogs or cats with fun, or something to play with. They do not normally meet the requirement of learning. This is where our product can set as apart in the competition as it is based on a design and philosophy that will not only engage the dogs and provide them with fun, but it will also help them in terms of a sound learning. The business will therefore need to promote the aspect of fun, learning and health for the dogs to develop a distinct image in the eyes of the potential customers, and thus gain a competitive advantage for the customers.

Marketing

As said above, the product needs to position itself distinctly from the competitors, therefore the marketing and advertising strategy for the business should be based on a clear message or theme that enables the target audience to realize the distinct features and usability of the product.

Operations

Apart from developing the product demand and marker, and employing an effective marketing strategy, what is most essential for the business is to have sound operational strategy that enables it to derive the best output even through limited resources. The operations will also take leverage from the external resources such as the financers and the external strategic partners that will promote, distribute and the market the toy product for the business.

Start Up –Summary

For launching the product Hera in the USA and the European market, the expenses that the business will require to incur include the legal counsel fee (License, trademark and patent), marketing and advertisement consultant’s fee, and the fee for research and development. The assets that are required at the inception of the business or for introducing the product in the markets of US and Europe include manufacturing tools and the initial product inventory. Similarly, apart from the initial investment in aspects above, funds will also be required for launching the initial marketing campaign, monthly and daily finance operations, and having an appropriate