A cash rolling industry; Pet Market trends and niche Market concerns

Do you love Pets? Do you want to give the maximum care to your dog and would like to watch happily, when he grows? Yes. At least ninety percent of you reading this piece would have seen campaigns like this and must have answered yes inside. Isn’t it? Pet industry is the best growing industry in the latest trend and a person who would like to start a business in this industry has a definite success. According to a study conducted by Industry Research Report, Pet supplies industry has recorded a boost by 4 billion dollars in USA and products such as Cat Litter, Cat Toys, Pest-control products, and Pet Carriers have been recognized as the leading products in supply. However this industry has become solemnly competitive and the downside is that the existing markets are already taken by the big guys in the industry. Now small players need a strategy to coop-up their business with these big guys and these small players seem to come-up with actually inspiring products that no one has even thought of. Have you ever thought of a cat that suffering from Diabetic? Yes. There are pharmaceutical companies that provide Insulin Therapy for Feline Diabetic, which is an illness cause to cats as well, humans. What do you think about the dogs with Arthritis? Would you say no when a company specially designs an orthopedic dog bed for your lovely dog that suffers from Arthritis for a long time, a comfort lift career where you can make your dog or cat to sit comfortably when you walk, Ramps and Steps for your dog that has difficulty in jumping into your car. Therefore, creativity is everywhere and it can help you to make long journey in your business. Seems interesting? If yes, then read our other articles and leave a comment.

Strategic branding concerns for small businesses; the foremost path to succeed in a business, example provided with Chinese brands  

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Small Apparel factories in Asian countries do benchmark in their niche markets by promoting CSR initiatives 

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Strategic branding concerns for small businesses; the foremost path to succeed in a small business, example provided with Chinese brands

(Source: Google image)

The very basic investment for a small business should be made to target and position the offerings of this business in a most attractive and in a profitable niche. Later, the business’ success is decided by the facts such emotional relationship between the business and its customers, the acceptability, recognition, loyalty and so on. Therefore it would be more logical to say that the sustainability and profitability of any business is purely depended on how a product or a service or an offering is emotionally recognized as a brand, how it is strategically positioned as a brand, what concepts that brand represents for and how unique that brand stands smart from the competitors.

Therefore, a well-built brand should cover all above mentioned aspects and the branding strategies should be enormously brilliant to beat against the practical circumstances that arise. Chinese brands seem to benchmark in the global markets with their brilliant strategies. In a general manner, Chinese products are recognized in other countries as less in quality, low- safety, cause of physical diseases, worst user friendliness, and standing for low social responsibility. Therefore, the concept of ‘Made in China’ has actually become a desecration for Chinese brands and nowadays world leading Chinese brands have started refusing to use this conception in their branding options. Any brand that is named something like ‘Zing or sing’ would be easily recognized as a Chinese brand in global market and leading Chinese brands have started to avoid branding their products in a Chinese way and yes, they are successful. The best example would be Bird a Chinese brand for mobile phone had been world listed as one of the best mobile phone soon after Nokia. (Interbrand, 2005)       

Chinese brands can be considered as role models for any business that is about to brand its offerings on the perspective of avoiding the practical circumstances in a clever manner. Other than, a good brand should represent good ideas that would be beneficial from the customers’ viewpoint or from any other stakeholders’ involved in the business. The ideas might be emotional or rational and most importantly, in both ways, the brand should ensure the end customer is benefiting from the ideas and concepts rather than just keeping them for a business model. Example: Wal-Mart is not just a place to buy products, it is concept of low-cost high quality purchasing and most importantly, it functionally benefits the customers to save their money and emotionally making them happy.

For a small business, these concerns would be quiet enough to make their brand successful in a niche market. However, when the business grows in the forms of expansions, partnerships and alliances, the coverage of branding concerns also get expanded as well well-studied compliance to the areas of where they need to grow.  

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Small Apparel fcatories in Asain countries do benchmark in their niche markets by promoting CSR initiatoves

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Small apparel factories in Asian countries do benchmark in their niche markets by promoting CSR initiatives

Corporate Social Responsibility (CSR) now has become a key to promote businesses, brands and even specific business units. CSR is one best way to show others that a company really cares about its society, environment, employees, and all other stakeholders. Why do most companies fail to gain their real outcomes that they ought to get from their CSR initiatives is because they downside to use it as a mean of promotion. Whether you are in a small business or engaged in large business, moral CSR would be the ultimate point where you can serve your business towards a successful sustainable survival.

Small apparel business firms in Asian countries do practice CSR as a very effective mean of promoting their business deals among their buyers or small niche markets. In countries such as Sri Lanka, India, Thailand and China, there are enormous amount of small apparel factories. However, it will not be sensible to say that they all factories play very successful in their businesses. Most of these export-oriented firms’ prime revenue sources are the countries in Europe, United States of America and other western countries who buy from them. Since these factories are small in scale, they mostly survive in their businesses with only one or two buyers who buy from them in a temporary basis. Nevertheless, there are also very successful small apparel firms with more than thousand employees and they earn a good income. Let us try to look-into further on why there is such a discrepancy. 

Noticeably successful firms are engaged in CSR activities and for sure, it remains as one of the main reasons for their sustainable survival. ‘CSR is one of the main reasons for why my buyers are insisting with my business and when a deal comes to end, my partners (buyers) always recommend other about my business’ said Mr. Bandula CEO of Rainbow Private Limited a medium size garment in Sri Lanka. Nevertheless, it is not to say that just actively participating and promoting CSR initiatives among your niche would only let your business to go up. Do not forget that CSR alone would never work unless if your business is up to the expected quality and customers’ requirements.  

There are some interesting stories on how small apparel factories in countries such as Sri Lanka, India, China and Thailand promote their CSR initiates among their niches (buyers). Milking scheme, vegetable scheme are two interesting ways how these firms do CSR with their employees and society. Most of these firms are situated in far villages and the people who live there are poor. Under milking scheme, the company will provide cows to some specific employees and all of the employees must take care of the cows. So that there is a basis and according to that basis, each employee must provide food to the cows and the milk will be equally distributed to the employees. Vegetable scheme also work in a similar manner.

It seems really funny as well interesting and these firms really being successful as they gain very loyal customers and a loyal niche market (buyers). Most of the buyers have started to prefer CSR in their choice of selecting suppliers as they a know a firm that takes care of employees and other stakeholders would take care of its buyers or customers as well.

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