Certain factors determine the successful entry of a new company in the existing market that include but are not limited to understanding the market trends to develop the products accordingly, distributing the products effectively, and promoting the business consistently. Considering all these elements, Chow Time has aimed to provide good and healthy foods for pet dogs targeting the growing pet industry and is determined to donate a significant portion of its revenue to animal protection. However, there are various challenges that a company can face after its expected launch in April 2021 with mainly regards to E-commerce and digital marketing, which are discussed in detail in the following sections.
E-commerce and digital marketing are among the most influencing factors for the sustainable growth of any company in the 21st century. The trend of doing shopping online has been further strengthened by the travel restrictions due to the pandemic, which encouraged consumers to utilize other means of shopping, and consequently, many companies saw tremendous growth in their online business. The same consumer behavior has been observed in the pet foods and product industry as well, which has substantially changed the market dynamics in the United States and Canada. Therefore, Packaged Facts, a market research firm has reported that e-commerce sales of pet products will take up to 27% of the whole market by the end of this year, while Kabo also reports that 88% of Millennial dog owners will utilize e-commerce options. In this regard, Chow Time will need to ensure that it successfully provides a platform to its customers where they can satisfactorily order food items for their pets. But to stay competitive in the market, the company also needs to introduce new products consistently as it has become an integral component of the successful business strategy. In 2019, when Petcurean Pet Foods launched its new products, it experienced the highest percentage of sales in a single year. Thus, considering these elements, the company should explore different options available for launching its online business while maintaining the continuous supply of the products and implementing an effective strategy for their distribution.
An online presence alone is not enough to attract potential customers, instead, an effective digital marketing strategy is the essential component of doing business online. In this regard, Chow Time has develop a community of online followers and keep them engaged through its engaging social media content. A rigorous advertising plan is needed in this regard, which invites pet nutritionists, pet trainers, veterinarians, and other market players to share their positive remarks about the company’s products. Moreover, to establish trust in its online customers and preserve its integrity, Chow Time can highlight Wholesome Ingredients, Giving Back, Influences, Campaigns, and Consumer Content. Although the company has already launched various such campaigns, it needs to develop an additional website and social media content to continuously engage its potential audience. Moreover, the company can also tap into the “buy local” movement as a part of its online marketing strategy.
Action Plan and Recommendations
The fundamental step in e-commerce is to establish a website that is very user-friendly and attractive and that provides various options to its visitors in terms of choosing the right product for their pets by utilizing different filters and tools. In this regard, it is recommended that Chow Time invests heavily in the website to make it SEO optimized and equip with all advanced tools. Next, with regards to digital marketing, the company can utilize the technique of “personalization’ which involves collecting the data of consumers from various platforms and then target them accordingly. The data can be easily obtained from social sites such as Facebook and after maintaining its presence on these platforms, it can build a community of its customers to actively engage with them consistently.