Market Research and Validation

EverlastingTartarStopper@gmail.com

Market Research & Validation

1. What problem/issue are we trying to solve?

The dog chew toy market is saturated with weak, boring chew toys, which dont effectively
reduce canine plaque and tartar buildup. More specifically, the majority of toys are not flavorful,
long-lasting, or efficient at removing buildup. As such, many dogs suffer the effects of poor
dental hygiene, and as a result their owners are left facing possible dental bills.

2. What is the proposed solution?

Our solution is to create a new, improved product that will satisfy the identified gaps discovered
in todays chew toy market. Specifically, our product will be long-lasting, flavorful to keep the
dogs attention, and effective at maintaining proper oral hygiene with regular use.

3. Who is our exact market?

Our direct identified market is 30-49 year old adults in the Phoenix metro area, with incomes in
the $30-59K range with product price points between $11 and $15. Of course, our product
appeals to all dog owners of all ages and income ranges, so that is our expanded market; to
price our product for maximum customer base exposure.

Research Methods

The following analysis was initiated with the responses of 24 survey respondents. In addition,
we researched the internet looking for pros/cons of current products in the market and
gathered data through casual conversations with dog owners. We also spent time evaluating
demographic data from various pet industry organizations such as pewsocialtrends.org to better
understand which market segment our product will realize its best performance.






Market Research and Validation
EverlastingTartarStopper@gmail.com

Market Results

4. Who are target customers for our company?

The target customers for our product are thirty somethings to middle-aged (30-49 years old,
52%) dog owners that have incomes at less than the median family income (<$60K, 48%) for
the Phoenix metro area.





5. What is the pain level of that problem to our market?

We discovered that the pain level to our market is interesting. Most dog owners (56%) have
not experienced veterinary dental bills due to poor dental hygiene, yet these bills can be
substantial over time when they do occur, between $300-$499 (%8). Our product would act like
veterinary dental bill insurance in much the same way that routine maintenance extends the
life of your automobile, or in other words like preventative maintenance. Hence the pain level
can be rated at 5.


Market Research and Validation
EverlastingTartarStopper@gmail.com

6. What solutions do they currently use?

Through our research, we identified several popular products that dog owners use to not only
combat dental hygiene problems, but to keep the dog preoccupied with productive behaviors.
Below shows that generic toys, Kong products, and animal bones are the most common
purchases amongst dog owners, yet all of these products have shortfalls.






7. How often do those customers purchase specific products or services?

According to our research, the average dog owner spends $107 per year on chew toys. Our
survey supports that data with almost a quarter of responders spending over $100 just last year
(hence at least yearly).


Market Research and Validation
EverlastingTartarStopper@gmail.com


8. How much potential customers willing to pay for the Everlasting Tartar Stopper?

We expected lower price points to be popular for chew toys, but were surprised to find that
over a quarter of responders would pay more than $30 for a product that performs the way our
product was described. The data suggests two groups, one that would spend near the $11-$15
range, and the second edging near $30 and above.



9. What is a dimension of the market that is currently serviced by our competitors?

The market is large for dog chew toys. A Google search yielded 168,000 results for competing
products. Most of these are balls, sticks, stuffed toys, and hard plastic toys that can hold
treats. The market for dog treats and toys is $6B according to the American Pet Products
Association. If we were to gain even 0.01% market share, that would equate to $6M in annual
revenue for our product.


10. What is the price of the specific product or services that our competitors offer on the
market?

The average price of a dog chew toy is roughly in the $5.00 to $30.00 range. Rawhide is roughly
$5.00 to $9.00 per pound. Pig ears, an alternative to rawhide, is typically $3.00 to $6.00 more
than rawhide. Dentastix sell for about $3.00 to $6.00 full price.


Market Research and Validation
EverlastingTartarStopper@gmail.com
11. What percentage of your market will buy our solution or find our solution a good one?

Of the individuals we surveyed, all mentioned they would purchase such a product, although the
$0.00 price was overlooked in the options. When substituting that for the $1-$5 range, our
data shows that approximately 91% of our market will consider our product.

Conclusion

For dog owners in the Phoenix area the Everlasting Tartar Stopper is a virtually indestructible,
dog chew toy which provides preventative teeth cleaning using a chew toy that tastes great
unlike animal bone (rawhide) which provides your dog the fun of chewing something other than
items such as your shoes.

Weve decided to pursue this idea since we understand a potential opportunity in the market
that is not being satisfied by one product. We have a strong team that understands the task at
hand well enough to be successful at this endeavor. Our market research has shown that there
is a large enough demand for such a product and that the market is large enough to make
product development worth our while.