Marketing - The Pet Food Market Essay -- Business Management Studies

1. Describe the nature of the ‘exchange process’ which marketing facilitates in up to 100 words. The ‘exchange process’ is seen as the basic principle of marketing and involves the simple concept of needs and demands. In the world of marketing this can be any organization offering a product, service or even an idea. The customer then agrees to pay an amount of money for these goods. The whole exchange process works under the important condition that both parties value the goods offered by the other party to that extent that they are willing to fulfil the demands of the other party in return. The satisfaction gained from a transaction can lead to further purchases. 2. Explain how the pet food market is structured. Describe how a number of local outlets support this structure. The pet food market is structured into three main sectors, which consists of Dog food, Cat food and other pet food. The market share of Dog food (50%) and Cat food (47%) is nearly the same, whereas other pet foods only contributes to 3 % of the total market of  £ 1,684 million (Key Note Ltd 2003). Furthermore Pet food can be categorized generally according to their functions, which are: - Complete food: Provides all vitamins and minerals needed - Complementary food: To be combined with other foods, for example meat or biscuits - Snack, treat or training aid Within the Dog and Cat Food sectors a further segmentation can be found: The moist and semi-moist se... Marketing - The Pet Food Market Essay -- Business Management Studies 1. Describe the nature of the ‘exchange process’ which marketing facilitates in up to 100 words. The ‘exchange process’ is seen as the basic principle of marketing and involves the simple concept of needs and demands. In the world of marketing this can be any organization offering a product, service or even an idea. The customer then agrees to pay an amount of money for these goods. The whole exchange process works under the important condition that both parties value the goods offered by the other party to that extent that they are willing to fulfil the demands of the other party in return. The satisfaction gained from a transaction can lead to further purchases. 2. Explain how the pet food market is structured. Describe how a number of local outlets support this structure. The pet food market is structured into three main sectors, which consists of Dog food, Cat food and other pet food. The market share of Dog food (50%) and Cat food (47%) is nearly the same, whereas other pet foods only contributes to 3 % of the total market of  £ 1,684 million (Key Note Ltd 2003). Furthermore Pet food can be categorized generally according to their functions, which are: - Complete food: Provides all vitamins and minerals needed - Complementary food: To be combined with other foods, for example meat or biscuits - Snack, treat or training aid Within the Dog and Cat Food sectors a further segmentation can be found: The moist and semi-moist se...