Business plan for superfood powder

Abstract

Nowadays, the health trend has rapidly moved forward. During the COVID-19 crisis, consumers adjusted to connecting diet and health. Superfood is one of the foods with powerful health benefits. Superfoods appear to be difficult to obtain in Thailand, and many people are unaware of the benefits of eating them. As a result, this business plan researched superfoods in powder form so that consumers will have more opportunities to buy them and easily incorporate them into foods. The objective of this study is to gain insight into the marketing preferences for entering the market and the growth of this brand with online informative marketing, brand awareness, and brand accessibility. The target group is the new generation, specifically millennials and Generation X, who are between 18 and 44 years old. They are digital natives who use social media sites as well as health-conscious people who want to lead a healthy life. The questionnaire was handed out to the target respondents (400 people) in Thailand via online channels. As a result, the products that will be served to customers will be berries, spinach, acai berries, cacao, and kale powder, costing 340 Baht through online channels such as the company’s website, Facebook, Instagram, Line, Shopee, and Lazada, and 460 Baht through offline channels such as Tops Supermarket, 7-Eleven, and health food stores. The informative online channels the company will offer will be in the form of infographics and video clips sharing information about superfoods' benefits, recipes for mixing superfood powder into food, and production information. This business's financial plan showed an IRR of 35.04%, which was higher than the WACC (26.70%), and the NPV was greater than zero, indicating that it is financially feasible, while the payback period is 3.77 years. Implication of the thematic Paper: This study found that nowadays plant-based food or organic products have seen a rise in demand. However, there is not enough accessibility to superfood powder in the market. The company's attempt to address this issue is to provide products through multiple sales channels with a differentiated product strategy and to serve high-quality superfood powder that is easily accessible. Therefore, the products are accessible to everyone, ensuring the brand is responsive and reachable to all.