You are thinking of opening your own food and beverages business. As for the drink, you feel that there is a gap in the energy drink. There are few competitors such as 100 Plus, Isotonic, Gatorade, Red Bull and Livita to name a few. You are also thinking of bottling mineral water as well as carbonated water or sparkling water as part of the business plan. This strategy is an efficient supply chain operations. There is only one competitor from France (Perrier) that dominate the market for sparkling water for the premium market. Your drinks will be in glass bottles unlike current competitors which use plastics or PET bottles and potential market are five star hotels, convention centers and high end restaurants.
As for the food energy biscuits is one big potential that does not have many competitors. This is a growing market as more people pick up outdoor activities such as hiking, cycling and running. There are few possible distribution channels either B2B or B2C. You can sell the energy bar to convenient store chains, petrol station marts, R&R shoppee, online (Lazada, 11th Street, Zalora, Shopee), fitness center or hypermarket etc. Vending machines at certain location could be another altrnative.
1) How will you carry out market research? Where will you start?
2) Which group would be your target market for both products? How would you segment the market?
3) Will your business be B2B or B2C? How will you segmented the market?
4) What would the price range be and the packaging size of the product? What is the value proposition of your product?
5) What is the persona of your customers? Prepare persona for both of your products for different gender (four persona altogether).
6) How would you market your products? What kind of promotion would you use? Which type of advertisements would you employ?
7) What is the brand name (home brand) that you would choose? Will you use sub brands? Is co-branding a good practice? If you were to use a brand ambassador, who will it be and why?
8) Describe your supply chain and marketing channels. If you are considering using OEM or another company to produce
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