FPX5012_Assessment1_1

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Marketing

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May 25, 2024

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MSH BRAND MARKETING PLAN MSH Brand Marketing Plan Jason Lind December 28, 2023 Capella University

MSH Marketing Plan 2 Contents Executive Summary ............................................................................................................. 3 Business Context ................................................................................................................. 4 Situation Analysis ................................................................................................................ 5 SWOT Analysis ................................................................................................................. 5 PESTLE Analysis ............................................................................................................... 6 Marketing Strategy ............................................................................................................. 7 Marketing Tactics ................................................................................................................ 8 Effectiveness ....................................................................................................................... 9 Summary ........................................................................................................................... 10 References ........................................................................................................................ 11

MSH Marketing Plan 3 Executive Summary MSH Brands is wanting to bring a new product onto the market to capitalize on the growing problem of obesity in dogs. The new product will feature an innovative ratio of protein, fat and fiber by using high-fiber vegetables and lamb to help provide better nutrition and satisfy hunger more quickly. The new product will have higher costs than other products, but the greater perceived value of the product will allow MSH Brands to sell it at a higher profit margin than other product lines. MSH Brands is positioned as a quality leader of dry dog food in the industry. The new weight management formula will be marketed to above average earners who have overweight dogs. The marketing strategy is a focused and differentiated approach by creating a unique product aimed at a specific segment of the dog food market. The promotional strategy will utilize pricing breaks to drive consumer and retailer purchases. The new product will require a heavy advertising budget compared to established products. MSH Brands expects to price the product higher than competitors to infer better quality and perceived value. MSH Brands will measure coupon utilization to measure whether their promotional strategy is effective in generating sales.

MSH Marketing Plan 4 MSH Brand Marketing Plan MSH Brands wants to launch a new dog food product and needs a marketing plan to get the product onto the market. MSH decided to introduce a weight management formula of dog food to help dogs who are overweight. Business Context MSH Brands is an established company in the dog food industry. MSH is one of the top five companies in the dog food market. The dog food market in North America is expected to be over $36 billion in 2026 (Petfood Industry, 2023). Most pet owners do not even realize that their pets are overweight (Purina Institute, 2023). In 2022, nearly 60% of dogs in the United States were considered overweight or obese (Association for Pet Obesity Prevention, 2023). This high prevalence of unhealthy weight in America’s beloved dogs provides a growing market for health-conscious food options. As such, consumer preferences are changing as more dog owners are moving away from low quality value brand dog foods and instead switching to health-conscious or premium food options (Petfood Industry, 2023). As with their own bodies, dog owners are realizing that food is more than caloric energy. Food is nutrition and the foundation of a healthy life. The product MSH Brands is launching to meet this market demand will help America’s dog population both lose weight and maintain a healthy weight. The objective for MSH Brands in introducing a new product line is to capture a two percent market share in the weight management segment in two years by providing a better- quality product than their competitors. MSH Brands sources and produces its products solely in the United States. MSH Brands partners with a variety of farms, ranches, and vendors to source quality ingredients at competitive prices. The new weight management formula is a better food option for dogs with low levels of activity and that are currently overweight. The formula is designed to satisfy hunger quicker than other conventional products by including vegetables with higher dietary fiber content like sweet potatoes, chickpeas, and lentils. The addition of vegetables yields a product that requires less meat-based ingredients which in turn lowers the fat content. Lamb is used instead of chicken as it is a leaner meat option which also lowers the fat content and yields less calories per serving. The use of vegetables and lamb ingredients allows the formula to have a maximum fat content of 8 percent while still being able to have a protein content above 20 percent. The new weight management formula has higher production costs due to the higher cost of vegetable and lamb ingredients compared to grains and chicken, but the added consumer benefits and perceived value allow MSH to sell at a better profit margin than its current products. Considering that dogs with a healthy weight are currently in the minority, there is sound logic to pivot towards the larger market segment of overweight dogs. A key challenge is the low

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