Anchor Text :
Exact match anchor text is something that Google is strongly opposing, but its quite surprising that this method still works in the post panda phase.
Keyword Competition/Search Volume:
The search volume/competition for the keyword is considerably low so getting this keyword ranked by building linkbacks and anchor text matches wouldn't have taken the team forever.
Text Analysis:
A quick site:seomoz.org intext:snuggie dog bed query search proves that SEOmoz for sure doesn't sell or promote "snuggie dog bed", so this factor is out
Possible domain redirection's:
When we have a closer check we can notice that the website snuggeez.com is being redirected to SEOmoz.org, so eureka this is something that a webmaster should catch hold of.
Backlink building:
Bulk backlink building ~ similar to having huge amount of exact match anchor text for a website this technique is also least liked by Google. Lets dive a bit more deeper into this topic and the possible reasons:
When we are talking about anchor text/link spamming, the first thing that comes into mind would be thousands of link directing to SEOmoz with the keyword "snuggie dog bed" am I right ? Then take a look at the backlink report of SEOmoz, now you can find that there are no backlinks noted with the specified anchor text (snuggie dog bed) nor are there any notable baclink spamming over the past months nor were there any hacking or link injections, so what could be the reason!!! Hmmmm
Possible reason:
As noted earlier the domain "snuggeez.com" is being redirected to SEOmoz and when we check the backlinks, anchor text (snuggie dog bed) pointed to the website and the search volume of the keyword then alas the technique has been unfolded. Its quite important to have a constant check on the backlinks, anchor texts of the website and also related websites that influences your website performance.