The Business Strategy Of Natural Food Products: Potential Market (Research Paper Sample)
The task was to identify a natural food product and develop its marketing plan. It discusses various aspects of the business strategy of natural food products which include market segmentation, targeting and positioning along with identifying the potential market for natural food.source..
The report is designed to provide a better understanding of natural food product and its marketing plan to The Reader. The report will discuss various aspects of the business strategy of natural food products which include market segmentation, targeting and Positioning along with identifying the potential market for natural food. The study will also determine the marketing and financial objectives of the product and develop a thorough marketing plan for the natural food products which would include the marketing mix along with other marketing strategies which need to be implemented. In the end, an appropriate budget will also be developed for the promotion and marketing plan of natural food products.
Natural food products are referred to as food products which are not processed and does not contain any kind of food additive such as antibiotics, food colour, sweeteners, flavouring and hormones. It is considered as close to nature as possible. They are often expensive in price as compared to other processed foods, and also have a wide range of products. The natural foods are designed proper healthier lifestyle. One of the companies that produce natural foods is the natural evolution foods which was founded in 2007 in Australia where waste bananas are used and turned into healthy food sources with the help of world class Technology. The natural foods developed by the company contains potassium, magnesium, high on prebiotic fibre and multi fibre supplement. The natural food developed by the company is certified by the food drug administration (FDA) regulation labour right.
Natural foods are becoming more and more popular among the people due to the curiosity about the health issues. Natural foods are of high quality standard and any company developing organic and natural foods have strong brand reputation with a motivated workforce. However, it also needs to be considered that natural foods are comparatively expensive with a limited network of suppliers (Sharma, 2011). There is immense competition from low cost foods, but the major advantages of natural foods is the kind of health benefits it provides to the customer, and this is why, it will continue to be sold even with the higher price. There is also the possibility of market expansion as health-conscious people are everywhere (Sharma, 2011). The only issues with the natural food products are that there is a low level of market awareness and in case of a new competitor, it can be very difficult for any organization that develops natural food to increase their revenue and profit. There are also barriers which restrict entering the market of food supplement. Although, natural food development is considered a very financially stable and innovative business with better technology and skilled workers available (Hughner et al, 2007).
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