What does petsfavorit do
Petsfavorit helps exporting pet product companies in developing an outside-in strategy for penetrating new markets. Before bringing the pet product to market we support newcomers in finding the best way to launch their products and thereby save money. And we help pet companies to bring their products to market in accordance to this strategy.
Why do we do this
Our experience is that many companies in the pet sector position their brands and products according to the inside-out principle. In short, in-house product development designs new accessories (or R&D develops a new flavor petfood). As soon as the DMU is enthusiastic about this new product is produced and sales & marketing puts it on the market.
Depending on the success in the home market, these products will exported to other countries. Sometimes successful but often not so much. It turns out that the for the chosen market other USP’s are important or that other companies have already filled the need that your product was designed for.
Petsfavorit beliefs that a proper, local, preparation helps exporting companies save lots of money and improves the success rate for an introduction highly.
developing the strategy
We start, based on the information provided by the customer, by roughly setting the segment for the products before we start assessing the relevant competition. With the segment we mean the bandwidth that is set by the consumer for the group of more or less interchangeable products. This is often influenced by local cultural customs and habits and there can be huge differences between rural and urban areas.
If we have the segment we can assess the competition within. By benchmarking the different characteristics, price/quality, promotional and other marketing support, etc., we can rank the newcomers products. And now we can fine-tune the borders of the segment.
With the segment/ranking/local customs in hand we can again look at the products. Are the USP’s that make the product so successful on the home market relevant for the new market? Does the price/quality level match the level of the competition? Does the planned introduction scheme fit the needs of local distributors? And what distribution system will fit the best in this world of bricks ‘n clicks?
If it all fits with the initial plans, we go ahead with the launch. If not, we can, based on the new found facts, adjust the plans, for example:
- The introduction scheme.
- Emphasize other benefits than were in the original plans.
- Adjust price setting to the level that consumers will expect it (adjustment can be up as well!).
- The offline/online strategy
Or we can even come to the conclusion that the chosen market is not the one for the products. But even this unlikely outcome is better and cheaper than having put a lot of resources and energy in an unsuccessful product introduction.
Bringing the products to market
With the accurate strategy and introduction plan we can go to market. Petsfavorit has the network to introduce your products to the major players in the pet trade. We can support on many different levels in selling your products. We do (key) account management for your brand/products and if wanted we help you in finding logistic solutions and local field sales people.
Petsfavorit gives you and your customers all the necessary support to make the launch of your items successful in the new markets.