A Study On Development Strategy Of Ningbo AX Pet Hospital

The rapid domestic economic growth in recent years has brought an elevation of people’s living standard and therefore generated expanding spiritual and cultural demands.In addition,pets have been playing an increasingly important role in people’s life as home spiritual companions with social structure of population aging ever since the beginning of the 21 st century.Statistically,China’s pet market(dogs and cats)is worth 170.8 billion CNY in 2018.The past decade has witnessed an average annual compound growth rate of approximately 30%.The domestic pet market is estimated to exceed 200 billion CNY in 2019.In the United States,veterinary care takes up 30% of the total value output in pet industry as the biggest contributor.In contrast,this proportion in China is mere 16%,the same as that of the United States in 2005.In the future development of the pet economy,China’s veterinary care is expected to present a remarkable growth and growth rate and become a “blue ocean” in the new industry.Ningbo AX Pet Hospital,is an experienced pet hospital chain company and has been running well in Ningbo for many years.It is now embracing good opportunities for development and is confronted with challenges as well.How to seek further development against the new market wave is the research purpose of this paper,based on the application of knowledge related to corporate strategies.This paper analyzes the internal and external environment of Ningbo AX Pet Hospital with PEST analysis method,Ansoff matrix,SWOT matrix and other tools.Research findings are as follows: it enjoys such external opportunities as supportive national policies,the rapid pet industrial development and the injection of consortium capital while encounters threat from the outside like the deficiency of laws and regulations,insufficient industrial regularization and intensifying competition disorders.Internally,it owns a well-established brand,rich experience during the long-time operation and the initial formation of scale effects,which however is challenged by the short history of regularization,unsatisfactory professionalization and the shortage of key talents.Therefore,Ningbo AX Pet Hospital should set corporate strategies that gear to the existing internal and external conditions,based on the company’s specific development targets.It requires a continuous and steady expansion,a technological “moat river”,greater chain scale effects and the enhanced post professional training so as to promote the company to a higher development level.