Market Entry Report for Petcoats.com Essay Example | Topics and Well Written Essays - 2250 words

Market Entry Report for Petcoats.com - Essay Example Recently, the company received local coverage on BBC East Midlands followed by a favorable article on the company by Daily Mail. Following the two incidents of coverage, there was an avalanche of activity on the company’s website leading to the crash of the website. This event convinced the manager to explore the possibility of venturing into two foreign markets – the USA and France. This paper constitutes a report to the director of Petcoats.com on the viability of entering the US market and how best to approach the market. The report is organized into three parts: the first part investigates the US pet market, the second analyses a number of possible market entry strategies before proposing the strategy the author feels is the most appropriate. The third part of the report explores the various ways through which Petcoats.com can communicate with American pet. Finally, the author concludes by making a number of recommendations. In the 1970s, 64 million American households owned at least a pet. By 2012, that figure had more than tripled 164 million households – this figure translated to 62% of American households (The Humane Society of the United States, 2014). As has always been the case, the dog and the cat are the two most favored pets. In 2012, 47% of all households owned at least a dog, translating to a total of 83.3 million pet dogs. In that same year, dog owners spent an average $231 in a year on routine veterinary visits. The pet cat population stood at 95.6 million and on average, the cat owner spent $193 on routine visits to the veterinary.