Posted: March 12th, 2023

Marketing plan

see attachment 

For this Week Marketing Plan Assignment, you will be responsible for combining

the previous Marketing Plan Assignments into a single Marketing Plan

document. Your Marketing Plan should appear similar to the Marketing Plan

shown in Appendix 1 with professionally formatted headings, tables, citations,

and references.

Be as thorough as possible when writing your assignment, and remember, this is

an academic assignment, so no “text-talk,” no conversational tone, and ABOVE

ALL OTHER THINGS… don’t plagiarize!! Lastly, spell-check and proofread your

work! Failure to follow these steps will negatively impact your grade.

This assignment should have an APA title page and an APA reference page. An

APA abstract page is NOT required!

APA — you do not have any in-text citations to reference.

Below are previous papers that are needed to combine into one paper.

PREVIOUS PAPERS. WEEK 1

MY PRODUCT AND SERVICES.

Product/Service 2 Company: Petco Product/Service: Petco

Rewards Program Description: Petco will launch a new rewards program

for customers that will reward them for their loyalty. Customers will be able to

sign up for the program online or in-store and will receive benefits such as

exclusive discounts, free shipping, and early access to new products. Customers

will also be able to accumulate points with every purchase they make which can

be redeemed for future purchases (HASSAN,2021). Reason for Selection: This

product/service will help Petco retain customers and increase customer loyalty.

Additionally, it will help them stand out from competitors who do not offer a

rewards program. By offering customers exclusive discounts and rewards, Petco

will be able to increase their revenue and remain competitive in the pet supply

market.

PREVIOUS PAPER WEEK 2

• Market description 1.1

“you will be responsible for writing up the current marketing situation (including 1. market description,

2. product review, 3. competitive review, and 4. channels and logistics review). “

The pet supplies market includes a wide variety of products and

services, including but not limited to collar and shackles, enclosures

and ecosystems, games, snacks, water materials, pets backpacks,

dietary supplements, hairdressing and medical care. There is a great

deal of variety in the places you can buy pet goods, from

supermarkets and warehouse clubs to mass merchants to chains of

speciality pet stores to online vendors and even vets themselves (Dua,

2018). Sales of pet products are increasing at specialty merchants like

PETCO because of their extensive product selection and attentive

customer care. The industry for small mammals else than dogs and

cats consists of sale of fish, birds, lizards, bunnies, hamsters, as well as

rodents. The proliferation of domesticated cats and dogs, combined

with the questionable methods used by certain breeders, has led us to

decide to focus instead on tiny animals such as birds, fish, and reptiles

(Dua, 2018). However, the staff does help out with local animal

welfare organizations’ cat and dog adoption programs.

• Product review

Goods Food, services, personal care products, games, novel items,

medicines, and medical equipment are all available for fish, and fowl,

as well as other small animals (except cats and dogs).

3. Competitive review Competition is fierce in the industries in

which we work, and if the company PETCO can’t hold its own, the

sales, profits, and growth prospects could all take a hit. It’s not easy to

make a living selling pet food and accessories in today’s market (Dua,

2018). There are a lot of other pet supply companies out there, both

online and brick-and-mortar. Additionally, PETCO fafacesompetition

from discount retailers, warehouse clubs, and grocery stores (Dua,

2018). When it comes to both size and financial and managerial

resources, many of PETCO’s rivals have PETCO beat. There’s no telling

whether or not online and brick-and-mortar stores will increase their

levels of competition with us in the future (Dua, 2018). PETCO may be

forced to 2.1 2.2 2.3 2.4 2.5 2.6 lower pricing on key items to stay

competitive, which may have a detrimental effect on the profits,

especially if one of the major competitors wishes to capture or keep

share of the market by decreasing prices or by releasing additional

products.

Channels and logistics review

There is a great deal of variety in the places you can buy pet goods,

from supermarkets and warehouse clubs to mass merchants to chains

of specialty pet stores to online vendors and even vets themselves

(Dua, 2018). Sales of pet products are increasing at specialty

merchants like PETCO because of their extensive product selection

and attentive customer care.

PREVIOUS PAPER WEEK 3.

“you will be responsible for writing up the SWOT analysis for your product or service by analyzing the

company. You will also be responsible for creating five strengths, five weaknesses, five opportunities,

and five threats for your product or service. Refer to Chapter 2 and Appendix 1 (which includes a

sample marketing plan with the SWOT analysis).”

SWOT Analysis For PETCO’s Reward Program Strengths

1.1 • The Reward program at PETCO strengthens the bond between

the company and its customers. Subscription in a customer reward

program is related to competitive advantage due to a number of

variables, including the capacity to better serve customers’ demands,

restrictions on the competition, and customers’ inability to easily

switch to a competing product or service.

• The PETCO’s reward program increases customer loyalty. Most of

PETCO’s customers tend to be loyal and so PETCO is able to reinforce

this loyalty through its loyalty program.

• Clients that remain loyal over a period of years and are happy with

the service they get may recommend new customers which will

increase PETCO’s annual revenue (Jim, 2019).

• The individual expenses decrease as a result of the learning curve

associated with the relationship between the customers and PETCO.

As a result, the effectiveness of catering to the needs of this client will

be improved. The costs associated with a client are depreciated over

the course of many years of providing service to that customer.

• it reduces customer acquisition costs. Because of the substantial

expenditures associated with acquiring new customers, it is possible

that those consumers will not become lucrative for the business if

they aren’t sustained for a longer period of time (Jim, 2019).

Weaknesses

• It’s possible for PETCO to only focus on increasing its customer

retention rate and thus neglect the requirements of potential new

clients. In the haste that PETCO goes through to satisfy its present

consumers, there is always the possibility that new customers would

be neglected in the process.

• PETCO’s reward system rewards its customers based on their

transactions, most 2.1 2.2 2.3 2.4 customers also want to be rewarded

on non-transactional activities such as referrals and SoCal media

engagements. If they simply reward transactions, they encourage

clients that they should only engage with the company when a

discount is available (Jim, 2019).

• It might be challenging to distinguish loyal clients apart from

regulars. Simply because customers buy from PETCO often does not

equate to brand loyalty. Perhaps the bonuses PETCO’s reward

program is providing with the purchase have convinced them to buy

(Jim, 2019). As a result, the loyalty program might underestimate the

accurate targeting of loyal consumers.

• Data obtained from the loyalty program may not authentically

represent the loyalty of customers as not al customers want to share

their sensitive information. As a result, this hinders PETCO’s next-

best-selling product promotional strategies.

• The rewards program is not based on a sustainable competitive

advantage since it does not reward its customers based on unique and

dissimilar actions when compared to its competitors. Opportunities

• PETCO’s reward program will benefit the firm by providing valuable

insight into customer information and customer buying behavior

(Joan Verdon. n.d.).

• There is a value that a continued connection with a customer brings

to the company in terms of keeping that customer as a client. Because

of this, loyal consumers have a greater propensity to become less

price sensitive, which enables businesses to charge higher prices.

• The advancements in artificial intelligence that have been made can

be utilized by PETCO’s reward system to improve their ability to

forecast customer demand, improve their ability to cater to specific

groups, and improve the quality of their recommendation 3.1 3.2 3.3

engines.

• The expansion of social media may assist PETCO in lowering the

costs associated with entering new markets and connecting with

clients while maintaining a much reduced marketing budget.

Additionally, it may result in the outsourcing of a variety of services to

the general public as well as consumer-oriented marketing that is

dependent on the information and the purchaser’s spending history

derived from the reward program (Joan Verdon. n.d.).

• Using PETCO’s data, they will be able to develop targeted product

offerings that will become their next top sellers. Threats • Reward

programs are at risk of loyalty/reward frauds committed by either

customer o employees. Usually reward programs operate in a similar

way and if a fraudster is capable of breaking into one of them,

reproducing the standard tactic elsewhere, is no huge effort for them

(Joan Verdon. n.d.). • Advocacy for customer privacy have the

potential to affect PETCO’S reward programs and marketing strategy.

For instance, without crucial customer data on customer

demographics PETCO would not be able to effectively promote its

reward programs. • For the most part, consumers aren’t that aware of

how closely their loyalty program cash is being monitored, making it a

soft target for fraud. Hackers can use stolen points to get free rewards

since loyalty program security isn’t as effective as that of companies

that work with actual cash (Joan Verdon. n.d.). • In the case of an

issue with a customer’s reward card, personnel may be able to make

adjustments or add credits to client accounts, according to their

position of employment. • Threats from other competing businesses

such as PetSmart offering similar or better 4.1 4.2 4.3 reward

programs based on distinct rewards systems thus leading to loss of

customers.

WEEK 4 PRIVIOUS PAPER

“you will be responsible for writing up the list of objectives and issues.”

Objectives and Issues Petco is a pet wellness company that operates

and focuses on improving the lives of pets and pet

1.1 owners across the globe. To maximize profits for its owners, the

company’s primary goal is to offer low-priced pet food to its clients.

That’s why it’s so important to strike a balance between keeping

expenses down, increasing product variety, and retaining loyal

customers (Weinstein, 2022). The company has been criticized for its

claims of removing artificial ingredients from its pet foods, as well as for

not being transparent with its customers. The company also has to

contend with the increasing number of online supplies and the general

shift in the pet food industry. PETCO has invested in online sales and a

reward App, worked to make its company more transparent, and

improved relationships with its customers.

First-Year Objectives To stay competitive, Petco must constantly

improve and adapt. Therefore, the first year’s goals would likely center

on cementing the company’s foundation for long-term success and

expansion. The company may have as one of its primary goals the

enhancement of the in-store and online shopping experiences for its

customers (Pandey, 2021). Among the possible measures to achieve

this goal are the introduction of brand-new Reward APP capabilities

and the expansion of available means of transport for the distribution

of online purchases. As the demand for organic foods.

Second-Year Objectives PETCO could aim to broaden its influence and

strengthen its position in providing a healthier food choice for its

customers for the second year of operation. There are a variety of goals

that the PETCO company could pursue.

PETCO is looking to expand its product selection and has been rumored

to be considering adding additional product categories like organic

food, foods that are low in sodium, and foods that contain dietary fiber

and natural ingredients To provide a better in-store experience for its

customers, PETCO may decide to renovate its stores, upgrade its

signage and layout, and make in-store shopping more convenient for its

pet customers. Expanding into new domestic and international markets

could be part of PETCO’s 2.1 long-term strategy to meet the needs of a

growing number of customers. Issue PETCO faces several issues, which

including customers not wanting to buy foods for their pets that are

low in sodium, organic, and foods that are dietary, and criticism for its

impact on the pet communities Additionally, the company also faces

intense competition from online shoppers and changing consumer

preferences, which has forced it to evolve and adapt its strategies

(Pandey, 2021). To address these challenges, PETCO has made efforts

to carry a wide variety of pet foods for its customers and invest in

online sales and technology. References Hobbs, L., & Shanoyan, A.

(2018). Analysis of consumer perception of product attributes in pet

WEEK 5 PRIVOUS MARKETING PLAN PAPER.

“you will be responsible for writing up the marketing strategy (1, positioning, product, 2, pricing, 3.

distribution, and 4. marketing communication”

Feed back.” APA — you do not have any in-text citations to reference.”

Product

Providing more value to clients beyond the first offering that piqued

their interest is a necessary step in the process of customer retention.

The reward program offers product add-ons catered to specific clients,

as well as exclusive discounts, free shipping, and early access to new

products.

Price Customers ought to be able to receive a minimum of one reward

within three to six months. As a general rule, PETCO should

compensate its referrals sufficiently so that they may receive a high-

value reward if they introduce a new consumer. PETCO collaborating

with other local complementary businesses such as JustFoodForDogs

would be a wonderful approach to provide consumers exceptional

value incentives whilst still keeping the rewards fiscally realistic.

Place PETCO serves customers of al ages as having a pet does not

coincide with age, so PETCO can place its award program online into

the virtual world to spread the word to a far reaching customer base.

Social platforms such as Facebook, Instagram and TikTok should be

employed. As for its offline site PETCO should place its outlets in areas

where they are populated with animal owners and animal shelters.

Promotion When trying to promote a product, it is more effective if

PETCO targets current clients. If PETCO’s marketer is aware of the

identities of these clients, then it will be able to provide them with

messages that reinforce their value which may result in financial gains.

Employees are a 2.1 2.2 2.3 2.4 2.5 3 company’s best chance for

fostering a loyal customer base, thus PETCO should actively encourage

them to do so. Workers may spread the word regarding the loyalty

program not just to their own circles of family and friends but also

through their day-to-day interactions with consumers. When trying to

get them to sign up, it’s a good idea to throw in some kind of incentive

like a discount, voucher, or freebie. Participation in the program may be

boosted by similar incentives that encourage frequent spending.

WEEK 7 PRIVIOUS PAPER.

“you will be responsible for writing up the controls. “

To ensure that Petco’s new rewards program meets its objectives, the

following controls will be implemented: 1. Tracking and analysis of

program enrollment: The success of the rewards program will be

measured by the number of customers who sign up for it. Petco will

track the number of program enrollments over time and compare it to

the initial target for the program. If enrollment falls below the target,

adjustments may need to be made to the program to make it more

appealing to customers. 2. Tracking and analysis of customer

purchases: Petco will track the purchasing behavior of customers who

participate in the rewards program. The company will compare the

spending habits of these customers to those who do not participate in

the program to determine the impact of the rewards program on

customer spending (Hanbury, 2022). If there is no noticeable increase

in spending among rewards program members, adjustments may need

to be made to the program benefits to increase their attractiveness to

customers. 3. Monitoring customer satisfaction: Petco will regularly

survey customers who participate in the rewards program to gather

feedback on their experience. This will include questions related to the

benefits of the program, ease of use, and overall satisfaction with the

program. If the satisfaction rate is low, the company will need to make

changes to improve the program. 4. Monitoring program costs: Petco

will track the costs associated with running the rewards program,

including the cost of rewards and administrative expenses. If the

program costs 2.1 2.2 2.3 3 exceed the expected return on investment,

the program will need to be adjusted or modified to improve its cost-

effectiveness. 5. Monitoring Key Performance Indicators (KPIs): Petco

will monitor key performance indicators to track progress towards

achieving the program objectives. KPIs will include customer acquisition

rate, customer retention rate, the number of new customers, customer

lifetime value, redemption rate, and the average purchase amount

(Hanbury, 2022). 6. Communication with Customers: Petco will

communicate regularly with customers about the rewards program

through various channels, such as email, social media, and in-store

signage. Petco will also highlight the benefits of the rewards program

and provide regular updates on program enhancements and new

rewards. Overall, Petco will know when its objectives are met by

achieving its target for program enrollments, increasing customer

spending among rewards program members, maintaining high

customer satisfaction rates, and ensuring the program is cost-effective.

Ongoing monitoring and analysis of these metrics will help the

company make adjustments to the rewards program as necessary to

achieve its marketing

objectives.

PRIVIOUS WEEK 6 PAPER.

“you will be responsible for writing up the action programs.

WEEK 6 FEED BACK. NEED TO BE IN A a calendar format —

actions for each month for at least 6 months

What do you do in June, July, August, September, etc

What month do you launch? What month do you measure results? That is what is missing.

You have the data — just reorganize this into a “To-do” list for each month.

Petco: A Marketing Plan for a Leading Pet Supply Retailer

Petco is a well-known pet supply retailer that provides a wide range of products

and services for pets and pet owners. Petco has been serving pet owners for

many years and has established itself as a trusted and reliable source for high-

quality pet supplies (Hobb & Shanoyan, 2018). However, with the growth of the

pet industry, there has been an increase in competition, making it imperative for

Petco to develop a marketing plan to increase brand awareness, attract new

customers, and boost sales (Hobb & Shanoyan, 2018). In this essay, we will

outline a comprehensive marketing plan for Petco to achieve these goals.

Target Market:

Petco’s target market consists of pet owners and pet enthusiasts who are looking

for high-quality pet supplies and services. Pet owners and pet enthusiasts come

from diverse backgrounds, including urban and suburban residents, families, and

individuals who are interested in providing the best possible care for their pets

(Hobb & Shanoyan, 2018). Pet owners and enthusiasts are interested in quality

products and services, and they are willing to pay a premium for these products

and services (Hobb & Shanoyan, 2018). Petco’s target market is growing, and

Petco has an opportunity to capitalize on this growth by providing high-quality pet

supplies and services to its target market.

Marketing Objectives:

The marketing objectives for Petco are to increase brand awareness, attract new

customers, and increase sales of pet supplies and services (Hobb & Shanoyan,

2018). In order to achieve these objectives, Petco must develop a marketing plan

that leverages a variety of marketing strategies and tactics (Hobb & Shanoyan,

2018). Petco must also measure the success of its marketing plan to ensure that it

is effectively achieving its objectives.

Marketing Strategies:

Petco will utilize a combination of online marketing, in-store promotions, email

marketing, community outreach, and a loyalty program to achieve its marketing

objectives.

Online Marketing: Online marketing is an effective way to reach Petco’s target

market and increase brand awareness. Petco will utilize social media platforms

such as Facebook, Instagram, and Twitter to engage with its target market and

promote its products and services (Hobbs Jr, 2019). Petco will also use targeted

advertising campaigns and influencer marketing to reach its target market. In

addition, Petco will develop a content marketing strategy that provides useful and

relevant information to its target market.

In-Store Promotions: In-store promotions are a great way to encourage customers

to visit Petco’s stores and purchase pet supplies and services. Petco will offer

discounts and special offers on pet supplies and services to customers who visit

its stores (Hobbs Jr, 2019). This will encourage customers to make purchases and

help increase sales for Petco.

Email Marketing: Email marketing is a cost-effective way to reach existing

customers and offer them exclusive promotions and special offers (Hobbs Jr,

2019). Petco will develop an email marketing strategy that leverages its customer

data to personalize its emails and increase customer engagement. Petco will also

use email marketing to keep its customers informed about new products and

services.

Community Outreach: Petco is committed to providing high-quality pet care and

support to its customers. To achieve this goal, Petco will partner with local animal

shelters and pet organizations to host events and promote its commitment to

providing high-quality pet care (Hobbs Jr, 2019). This will help Petco build a strong

and positive reputation within the pet community.

Loyalty Program: Petco will develop a loyalty program to reward existing

customers for their continued patronage and encourage repeat business. The

loyalty program will provide customers with rewards and incentives for making

purchases at Petco, and it will help Petco retain its customers and increase sales

(Hobbs Jr, 2019).

Marketing Budget:

The marketing budget for Petco will be allocated as follows:

Online Marketing: 40% of the marketing budget will be allocated to online marketing.

In-store Promotions: 30% of the marketing budget will be allocated to in-store promotions.

Email Marketing: Email advertising will receive twenty percent of the total marketing expenditure.

Community Outreach: Public engagement will receive five percent of the marketing budget.

Loyalty Program: 5% of the marketing budget will be allocated to the loyalty program.

Marketing Metrics:

Petco will measure the success of its marketing plan by tracking the following metrics:

Visitor data and sources, including social media, targeted ads, as well as content marketing, will be

monitored by Petco (Hobbs Jr, 2019).

Sales: Petco will track the sales of pet supplies and services to determine the effectiveness of its

marketing plan in increasing sales.

Customer engagement: Petco will track the engagement of its customers on social media, email

marketing, and in-store promotions to determine the effectiveness of its marketing strategies.

Community outreach: Petco will track the number of events and partnerships with local animal shelters

and pet organizations to determine the effectiveness of its community outreach efforts.

Loyalty program: Petco will track the number of customers enrolled in its loyalty program and the

number of rewards redeemed to determine the effectiveness of its loyalty program in retaining

customers and increasing sales (Hobbs Jr, 2019).

Conclusion:

Petco is a well-established pet supply retailer that provides a wide range of products and services for

pets and pet owners. Petco needs a marketing plan that uses a broad range of advertising techniques

and strategies to raise brand recognition, find new customers, and improve sales if it wants to keep its

position as the industry leader (Hobbs Jr, 2019). The marketing plan outlined in this essay provides a

comprehensive approach to achieving these goals and includes a target market, marketing objectives,

marketing strategies, marketing budget, and marketing metrics to measure the success of the marketing

plan (Hobbs Jr, 2019). With a strong focus on customer engagement and community outreach, Petco is

poised to maintain its position as a trusted and reliable source for high-quality pet supplies and services.