Product strategy refers to what gives the insight in strategic characteristics that is innovative, product life cycle, and product newness (Beck & Katcher, 2003). This will help to create the right expectations of a product. Positioning strategy will be adopted because it establishes a strong and distinctive image of the new product to its target competitors. For the pet rearing and maintaining great care of them, it is important to explain to people the importance of keeping the pets (Sindy, 2002).
How to promote the product
The pets will open up new market opportunities because it is estimated that, more than $45 billion is spend annually on upkeep of pets. Pet’s shops will be opened up where food, play toys, cages, houses, and grooming items will be sold (Sindy, 2002). Other business opportunities include pet friendly hotels, dog salons, animal bakeries, and designer fashion boutiques for animals. This will in turn create employment opportunities to the US citizens. The 2009/2010 National Pet Owner Survey in USA shows that more than 62% of the citizens owns pets such as dogs, cats and freshwater fish. This is a ready market for the products (Beck & Katcher, 2003).
Pets are important because they guard our homes and belongings and the aesthetic value the animals possesses. The pets are not costly in treating or maintaining their health because of insurance health policy. It has been found that, pets reduce stress according to the research conducted. They provide many health benefits to people caring for them. It also lowers blood pressure; lessen feelings of loneliness, anxiety, worry and depression (Sindy, 2002).
Research and studies found that, having pets boost immunity and the male pet owners have lower cholesterol and triglyceride levels and less signs or symptoms of cardiovascular diseases. Pets are known to providing unconditional love and affection, which is a valuable source of companionship and comforts that, is of a great importance to those who are lonely and isolated (Beck & Katcher, 2003).