Timko Export Management

Bethany Walter International Marketing December 14, 2008 Exam 2

Select a market for a new line of dog toys. What are the top five things you need to consider as you make your market selection? Is there a demand for a line of dog toys? What are the regulatory issues regarding the products? What are the distribution channels for the product? How much competition is there for dog toys? What are the demographics? The marketing mix will consider product, price, place, and promotion. The product is important and will be a tangible line of dog toys. Further research will look into cost of making the toys such as raw materials and labor costs. The price is the amount the customer will pay for the product. The price should be high enough to cover the expenses of making the product as well as leave room for profit. Place is where the product will be sold and represents the distribution channels of the product. Promotion is all the communication associated with marketing the product and usually has four main elements. This includes advertising, public relations, word of mouth, and point of sale. After all of these elements have been carefully research and developed I would look into the top five things for a final decision. The first area is making sure there is a demand for dog toys. Typically, research shows that people treat pets like children and will do anything to make them happy. Dog toys are the least excessive item that can be purchased in a pet store. People are evens starting to make dog fashion items, carrying purses, dog houses, customized accessories, etc. The second area would consider any regulatory fractions associated with the product. The government has agencies and laws in place to protect American consumers. Wal-Mart had to remove dog toys of their shelves because of the lead paint scare from China. This is the type of situation that needs to be avoided. The third area analyzes the different distribution channels...