Form S-1 Table of Contents affected by a challenging economic climate, including adverse changes in interest rates, volatile commodity markets and inflation, contraction in the availability of credit in the market and reductions in consumer spending. In addition. a slow-down in the general economy or a shift in consumer preferences for economic reasons or otherwise to regional, local or Private Label products or other less expensive products may result in reduced demand for our products which may affect our profitability. The keeping of pets and the purchase of pet-related products may constitute discretionary spending for some of our consumers and any material decline in the amount of consumer discretionary spending may reduce overall levels of pet ownership or spending on pets. As a result, a challenging economic climate may cause a decline in demand fa• our products which could be disproportionate as compared to competing pet food brands since our products command a price premium. In addition, we cannot predict how current or worsening economic conditions will affect our retail partners. suppliers and distributors If economic conditions result in decreased spending on pets and have a negative impact on our retail partners. suppliers or distributors, our business, financial condition and results of operations may be materially adversely affected. Our business depends, in part, on the sufficiency and effectiveness of our marketing and trade promotion programs. Due to the highly competitive nature of our induvy, we must effectively and efficiently promote and market our products through television. intemet and print advertisements as well as trade promotions and incentives to sustain our competitive position in our market. Marketing investments may be costly. In addition, we may, from time to time, change our marketing strategies and spending. including the timing or nature of our trade promotions and incentives. We may also change our marketing stra