Objective: To conduct market research for the launch of a B2C smart pet collar that tracks sleep, activity, and surrounding temperature. The product is aimed at new pet owners interested in proactive pet care within an affordable budget.

Current Product: An activity tracker for dogs that provides insights into pet health and activity patterns, potentially predicting health issues.

Competition: FitBark, PitPat, Whistle, Fi Pets, and Tractive.

Current Target Audience: New pet owners interested in gaining insights into their pet's health and well-being through non-invasive tracking technologies.

Future Goals: To enhance the product's features to offer more detailed and actionable health data.

Tasks

Competitive Analysis:

• Analyze the offerings and market positioning of competitors like FitBark, PitPat, Whistle, Fi Pets, and Tractive.
• Identify gaps in the current market that our product could fill, especially non-GPS features that appeal to new pet owners.

Consumer Research:

• Design and distribute surveys to potential users to deepen understanding of consumer concerns, such as the anxiety about losing pets and the desire for health insights.

Marketing Strategy Development:

• Propose marketing strategies that emphasize the unique selling propositions of our product, such as its affordability and health monitoring capabilities.

Product Development Recommendations:

• Based on market research findings, suggest potential enhancements or new features for the smart collar that could increase its market appeal and functionality.

Reports of Findings:

• Compile the research findings, analyses, and recommendations into a comprehensive report.

By the end of the project, students should complete the following list of activities (this is basically a retelling of the steps above):

• Identify gaps in the current market that our product could fill.
• Evaluate the brand messaging to communicate the value proposition to the target audience.
• Created a survey about understanding of consumer concerns, such as the anxiety about losing pets and the desire for health insights.
• Based on market research findings, suggest potential enhancements or new features for the smart collar that could increase its value to end users.
• Include competitive analysis and industry trends in their report.
• Presented all findings to (whoever is running the project).