...Dog Food in Turkey Summary * Dog food sales increased in value by 12% to reach TRY200 million * Main premium brands for dog food: Nestlé Purina Petcare Türkiye, Anadolu Akvaryum ve Pet Urunleri San Tic AS, Tropikal Bahçe ve Evcil Hayvan Ürünleri AS and Mars Inc * Increasing awareness of dog nutrition, positively impacts the performance and is altering the choice of dog food consumers select nowadays * Dog treats records the most vibrant performance in 2014 with 23% current value growth * Average unit price of dog food registers 1% growth in 2014 * Tropikal Bahçe ve Evcil Hayvan Ürünleri AS continued to lead dog food with a total value share of 17% * Over the forecast period, dog food value sales are set to rise at a value CAGR of 6% at constant 2014 prices, to 2020 Trends in dog food The Turkish dog food market is expected to record a 12% current value growth in 2015 compared to the figures of 2014. The main influences behind this enhanced performance are due to the increase in dog ownership, due to the rising need for companionship within urban districts. Moreover, the increase in awareness of dog health will lead to a growing demand for premium dog food. Additionally, the rising awareness about dog nutrition will increase the amount of people feeding their dogs with prepared dog food, instead of meal leftovers. In 2015, total dog food sales registered 12.4% value growth, gaining a rise of 0.6% growth, compared to the 11.8% increase recorded...
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...Activites 4 * Dog owner emotional engagement fuels potential market growth 4 * Awareness of Dog Food benefits 4 a) TV advertising campaign 4 b) Point of Purchase material 4 c) Consumer Promotions 5 d) Sponsorships 5 e) Product Innovation 5 Conclusions 5 References 6 Introduction Nowadays, trends are changing and people are caring most of their pets and its health, nutrition, long and happy life. Dogs are probably the most common and numerous pet in World, and Mexico is not the exception for this rule. The purpose of this work is to analyze the characteristics of the demand for the dog food business in Mexico. This business has shown a CAGR of 3% during the last six years. Dog Food business is divided in three categories based on food type: Dry Dog Food, Wet Dog Food and Treats / Mixers. The most important category is Dry Dog Food with 89% far followed by Wet Dog Food with the 6%. There is another category division based on price: Super Premium, Premium and Standard. In terms of Market players there are 13 competitors in this category: The most important producers are EFFEM with 48% of market share and Nestle with 21%. Regarding brands, the most important are: Pedigree: 33%, Dog Chow 7%, Perfect Fit 5% and Eukanuba with the 5%. DogFood Brand Shares % 2008 DogFoodCompanyShares % 2008 Methodology For the analysis of the dog food market, it was necessary...
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...concerned about what their dogs were eating. Pet owners are willing to spend a significant amount of money for the benefit of their pets who is often considered a member of a family. That is why the dog food manufacturers responded by creating more quality pet food that is often estimated to be similar in quality as the human food. Many owners have become more concerned about the ingredients used in dog foods and they are now reading labels more carefully and raising questions that can significantly affect the market. Dog food industry is driven by consumer demand and a new trend in the industry is going toward pet food that is specialized, such as diet food. As the obesity in dogs is becoming potentially serious problems potential for this type of market is increasing rapidly. Excess weight is responsible for a number of serious problems in dogs. Obesity can influence the development of diabetes, stroke or heart attack, shortness of breath etc. In addition, obesity can deteriorates symptoms in dogs suffering from bone and joint diseases. In older obese dogs, there is...
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...you are bringing a dog into your home. One of the most important things to think about is the type of food that is going to be best for your dog. Many dogs do well on many different types of foods, so you'll want to do your research and decide what the best type of food for your particular dog is going to be. When you are choosing a brand of food, it is important to look at the ingredients of the food. Don't be distracted by fancy packaging, or by what the food says on the front. Everything that you need to know about the food can be found in the ingredient listings. First of all, you want to look at foods that list real meats and vegetables as their number one ingredients. Remember that with dog foods, ingredients are listed by what occurs the most often in the food, so the first thing listed is going to be the biggest ingredient. You want to look for a food that has real meat listed first - followed by real vegetables. Meats that have "meal" listed after them should really be avoided, as these might be any type of by product from the meat, and might not be what you are looking for at all. Also, any by products or chemicals are not what you want to find in foods....
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...Which Is the Better Dog Food? The commercial dog food industry has been in existence for almost one hundred and fifty years. It affords a convenience to pet owners where by they only need to scoop out dry kibble in a bowl or open a can of pet food, without any additional food or supplement, pet owners do not know what ingredients are being used in the food. Many have relied on the dog food industry to use quality products in manufacturing their food. However, to their surprise, in some cases at the demise of pets this has not been the case. In light of all the pet food recalls since 1995 and more recently in March 2007, where Menu Foods recalled more 100 brands including Iams, Eukanuba, Hill’s Science Diet, Purina Mighty Dog and many store brands including Wal-Mart. Owners have began to take a more proactive approach as to learn what ingredients are in the product, by reading and understanding the label on the packaging and making a educated choice between the slew of brands whether it be dry kibble or canned food. Some owners are scrapping commercial dog foods all together and feeding their pet a homemade diet. These owners are convinced that the dogs health fare much better on these types of diets because before the existence of commercial dog foods pets ate what people consumed in the form of leftovers or table scraps or if they were in the wild they hunted their own food that provided the pet with natural protein and nutrients found in raw meat and plants...
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...Loyalty is a strong feeling of support or allegiance. Dogs are known today as being one of the most loyal companions a human can have. Dogs view humans as being part of their pact or family. The allegiance among the pact is viewed as crucial to the dog. This loyalty contributes to the success of the pact and makes the pact/family work more effectively for both the dog and human. The makers of this dog food ad used the history and research of dog’s demeanor towards humans to create a fun yet clearly stated message for dog owners. The ad shows a blind man being escorted by his companion down a city side walk. Little does the blind man know; the dog is knowingly leading him straight into a dangerous construction hole. In a humoristic and clever...
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...IBS XX 820 INTERNATIONAL BUSINESS PLAN The product: Dehydrated Dog Food The company: Amore Pet Food The target country: Japan Professor: Colin Raghunanan Students: Awa Oyetayo Galina Kokhan Ankit Chaubey Student numbers: 056-610-124 049-092-133 052-692-134 Due Date: 11th, April TABLE OF CONTENT: 1. Executive Summary………………………………………………………………………3 2. Corporate Profile 3.1 Background information on the Company………………………………………..6 3.2 Vision. Mission……………………………………………………………………6 3.3 Competitive Advantage…………………………………………………………..6 3.4 Objectives…………………………………………………………………………7 3.5 Copyrights and Trademark………………………………………………………..9 3.6 Business Structure…………………………………………………………………9 3.7 The strengths of the company…………………………………………………...10 3.8 Insurance………………………………………………………………………...11 3. Management and Human Resources 4.9 Key Positions at Amore Pet Food Company…………………………………….13 4.10 Requirement for Addition Qualifications………………………………………..14 4.11 Future Needs for adding employees………………………………………..……15 4.12 External Sources……………………………………………………………..…..16 4. Market Entry Strategy 4.1 Microenvironment Analysis……………………………………………………..17 4.2 SWOT Analysis……………………………………………………………………..19 4.3 Marketing Strategy………………………………………………………………….20 4.4 Marketing Financial Analysis……………………………………………………….23 5. Financial Overview 5...
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...The Company Profile: Part of the Bid Process A business presentation is part of the bid process. It comes after you perform a bid/no-bid analysis, and after the decision to send a letter of intent (LOI). Writing the company profile is part of the offer you submit to respond to the call for tender. The content of the offer (and the content of the company profile) usually depend on the call for tender and on the buyer's needs/requirements. The content of the offer is sometimes organized beforehand by the buyer. The buyer may give bidders an official document with all the required criteria and documents. Here are examples of possible criteria for the company profile: official criteria company name head office address company status quantitative criteria number of employees sales figures other financial figures qualitative criteria references success stories certifications Writing a bid and particularly a company profile requires preliminary work: Acquaint yourself with the documents. Try to analyze your business from a strategic point of view. Think about all the components and ask yourself if you're the right applicant. If the answer is "yes," you're ready! Why Write a Company Profile for a Bid? Writing a business profile for a bid is useful for introducing your company to the buyer and creating a positive impression. The buyer must know who you are, whether you're the company that best fits to its call for tenders, and if it can trust you. So...
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...Smackey Dog Foods, Inc. has been a very successful dog food manufacturer for the past few years, but along with their success, they have many issues surrounding their management styles and accounting techniques. These issues are a result of management’s inexperience and lack of knowledge of the proper controls related to running a business and the entire accounting aspect. Q1 Discuss how the SEC has influence (if any) over the audit of Smackey Dog Foods, Inc. SOLUTION: Although Smackey Dog Foods, Inc. is not a publicly traded company the SEC has a significant influence on their audit. During the audit, Keller CPAs will still need to follow the auditing standards put in place by the SEC. AICPA principles will be followed, ensuring that the Keller CPAs are independent of the client and free of conflicts of interest when performing professional responsibilities. Q2 Discuss the essential activities involved in the initial planning of an audit. How do these all specifically relate to the Smackey Dog Food client? SOLUTION: 1. Understand the client’s business and industry. Keller CPAs can use its experience from auditing other manufacturing companies in the audit of Smackey Dog Foods, Inc. The essential part of this step is for the audit team to learn and understand as much as possible of the client’s business and industry. All related parties will be identified in this stage of the planning as well. 2. Assess client business risk. The business risk involved...
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...------------------------------------------------- Smackey dog food Auditing [Date] tamucc [Company address] [Date] tamucc [Company address] Smackey Dog Food is a family owned and operated company that began as a dream of two sister’s and its meager beginnings were established in the kitchen of their home. The business has become more profitable and thus the sisters have a need to expand the business into a larger facility. There was a need to hire additional employees in order to meet the demand for the increase in Smackey Dog food orders. With the increase in sales the women decided to embark on a new product line and open a “Boutique Division that was named Best Boy Gourmet” that specialized in freshly manufactured, one-serving packages meant for consumption no later than 3 days after consumption. There is a huge demand for this product but waste is an issue. The dog food manufacturing industry requires many key figures with regards to operations of the warehouse. Depending on how large the warehouse is there are a lot of steps from the initial order from the customer until it is finally delivered to the customer. When an order is placed there is an immediate need for a lot of employees to fill an order especially if they are using an assembly line. Fork lift drivers bring the raw materials such as the fiber. The dog food depending on the type, for example if it is canned dog food or bags is placed for the employees of the assembly line to access it...
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...| Smackey Dog Foods, Inc. | Pre Audit Analysis | | Nikki Leach | 4/17/2012 | | Smackey Dog Food is a privately held company started by three sisters in Chicago, IL. Smackey manufactures a natural dog food and distributes it to pet stores, small grocery stores, kennels and veterinarians. The company has also started another line of high end single serve pre-packaged dog food they only sell through their website. Smackey is looking to expand and therefore needs to take out another loan; they currently have a loan that is secured by manufacturing equipment purchased with the money. The bank is asking for an audit of financial statements to determine if they will approve a second loan. The company wants to use receivables to secure the loan. We have been hired to conduct an audit of the financial statements. The SEC has no influence over the audit since Smackey is a private company; however, since Keller CPA is auditing the financial statements we will be following GAAP. Although the SEC has no influence we will be following any guidelines put forth by the SEC in regards to private companies to determine the financials are presented fairly. In the future if Smackey should decide to go public there are numerous steps that will need to be followed. We have assigned Peter as the audit manager and he will be assisted by Ben and Maureen. They will assess the client and plan the audit. The initial planning involves four things to be done...
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...Smackey Dog Food Inc. has hired my firm and me, Keller CPAs, to complete an audit of their company and its financial statements. To continue being the successful company that they are, Sarah, Kim, and Jillian need to get better control of the company in its aspects of general business including inventory control and accounting. From the looks of things now, they are failing and headed in a downward spiral if they way things are happening continue. One of our jobs as an auditing company is to locate and address any issues and concerns with the audit and how we will proceed. Upon first glance at Smackey Dog Food, there are a couple of key issues and concerns that the company is currently experiencing. The first prominent issue that I see with the company is a serious lack of internal control starting from the very top. No one person seems to be in control of anything and the different areas of the business are being run as the sisters see fit which is not a good business practice. Sarah is trying to secure a bank loan using the accounts receivable as collateral and basing whether they will be able to pay down the loan by Jillian’s sales team projections. Problem there is that Jillian’s sales team is earning commissions on sales that they are not even getting because Jillian wants to be liked and costing the company about 11% average in profits. If the sales projections are off, they run the risk of not being able to pay back the loan like they assumed and the expansion that is desired...
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...I. Business Metric and Key Marketing Problem Statement Zenith Pet Foods has tremendous potential to enter the household dog food market and to essentially introduce a new product, unknown to the general public. Until Show Circuit, Zenith Pet Foods frozen dog food brand, dog food cell into four categories, dry, canned, semimost, and dog treats (82). Along with this huge market potential come obstacles and problems to overcome. The key marketing problem is to prove to the frozen-food buyer of supermarkets that Show Circuit can generate sales by implementing the most effective advertising and promotional activities to reach the most profitable target market. By identifying promotional activities that will have a high reach to their target market, Show Circuit will enter the market creating brand identity. Show Circuit is creating a new product category of frozen dog food, therefore the need to generate brand awareness to the general public is essential in generating sales is the most critical aspect for Zenith Pet Foods to start making a profit. II. Alternatives Sales is initially the most important business metric for Zenith Pet Foods to focus on because by generating sales this will in turn increase the gross margin and finally after time increase EBITA. However, since Show Circuit is a new product, they can’t expect to increase EBITA without first focusing on increasing sales. As Zenith Pet Food’s marketing wizard, if I don’t increase sales then our gross margin won’t...
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...Analysis of the Smackey Dog Foods, Inc. Audit AC555 – External Auditing Devry University Professor Dorothy Brandt Keller Graduate School of Management Introduction Smackey Dog Foods, Inc. is a private own dog food manufacturer. The company was started by three sisters in the suburbs of Chicago. Smackey’s clientele are veterinarians, local pet stores and groceries stores. Smackey is in the process of expansion, and the purchase of new equipment produced the demand for an independent audit. The company has two divisions, one produces regular, and the other, gourmet dog food. Keller CPA’s task is to analyze Smackey’s business environment, perform an audit and issue an opinion on Smackey’s financial statements to be used to secure a loan at the local bank for the purchase of additional manufacturer equipment. Analysis At the Keller CPA Firm we follow all SEC, and other agencies, rules and regulations. According to Arens, Elder and Beasley (2010), the SEC has influence on setting GAAP and other disclosures, it has authority to develop requirements to guide auditors and CPAs to better design and prepare audits, and financial statements. Not all SEC rules will be applied to Smackey Dog Foods, Inc.’s audit, because this company is not public held, but the auditors will follow SEC’s rules in regard to private companies and determine if the financial statements are fairly presented. (Arens, Elder & Beasley, 2010, p.31). Auditors accumulate evidence in order to reach a...
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...influence (if any) over the audit of Smackey Dog Foods, Inc. Solution: The SEC (Securities and Exchange Commission) has substantial influence on the audit of Smackey Dog Food, Inc. This can be seen in the audit standards that have to be followed by the established independence of the auditors involved in the Smackey audit. In the audit of public listed companies which includes Smackey, the auditors need to observe several principles. Independence is one of the six principles exhibited by the AICPA and the others include responsibilities such as the public interest, integrity, objectivity and independence, due care, and scope and nature of services. An audit team is required to be objective and independent with regard to professional responsibilities and by being independent in fact and appearance when providing auditing and other attestation services. Under the Sarbanes – Oxley, auditors have to be objective and independent otherwise legal sanctions can be pursued and incurred. Q2: Discuss the essential activities involved in the initial planning of an audit. How do these all specifically to the Smackey Dog Food client? Solution: The following are several essential activities involved in the initial planning of an audit and how they are specifically related to Smackey Dog Food, Inc. : 1. First understand the client’s business and industry. The audit firm can get the full benefit of its experience in auditing other food manufacturers in planning and doing the...
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