Question

how PetMed will increase its competitive advantage by increasing the acquisition of new customers and increasing sales to loyal customers. What can they do?

Answer 1

answer-

PetMed can increase its competitive advantage with two ways which can help Petmed to increase the acquisition of new customers as well as increase sales to loyal customers. First Thing Petmed can do is to reduce its business cost in which Petmed will provide low price or cost services to its customers. When Customers find that Petmed is offering low priced services then customers will subscribe or buy its pet medication service over rivals. This will increase profitability and loyal customers.

second, Thing Petmed can do is differentiate its business service by offering uniqe offers and features to customers. for example- offer discounts and free pet meal program for pet owners. Hire professional and expert pet trainer who will give nutritional plan for different type of pets and customers can use those plans to make sure pets are healthy.They can also start express service where they can promise to deliver pet medication and supplments in one or two day just like prime membership model. This will help to differentiate its business and gain competitive advantage and increase customers loyalty and base.