It will generate products from plants that have medicinal value and these plants are grown by the company itself. It grows about ten types of plants and a few among them are Leavers, Turmeric, Mall, Shakespearian, and Nutmeg. The products are pure and safe to use – 100% chemical free (free from added preservatives and emulsifying gents) and are of excellent quality with a competitive price.
The company has planned to start its business in the urban areas in and around Tamil Nadia and has its own retail outlets in few major cities like Achaean, Benedictory, Cuddlier, Upstream, Salem, Bangor and in other similar cities. We believe that the growing need of the market for quality and safe herbal products will help the company to succeed. Intelligent decision, sincere efforts and skilful execution will propel the company to reach greater heights. SITUATIONAL ANALYSIS People have once again started practicing our traditional method of using declined herbs to treat injuries, health and personal care problems.
These products are very effective, don’t cause side effects, and are a cheaper when compared to the costly chemical products available in the market. These herbal products used in India are broadly classified into herbal health products and herbal beauty products. MARKET ANALYSIS Before starting the business Tony Herbs conducted a research about the market condition for natural and herbal products in India. It collected useful information that will help the company to reach the target market in a better and a faster way.
Customer Information Tony Herbs targets both the individual customer market and the commercial market (industries). Individual customers: We are concentrating mainly on the urban population of Tamil Nadia constituting 46 % of the total population of 72. 14 million(2011 survey) and few other cities around the state The urban population is about 31. 74 million. Market plan By grandstanding conscious about their health and are very particular about the products they use Commercial market: It includes the following industries: 1 . Arrived drug industry 2.
Homeopathic drug industry 3. Cosmetic and hair industry . Food supplements industry 5. Soap industry Market Need The basic market need is high quality and safe herbal products. People are looking for products that are 100% chemical free even without added preservatives and emulsifying agents. They also look for products with long shelf life. Market forecast In India the market for herbal products is growing every year. The market for herbal products is not crowded as there are only few players in this business. So there is an ample chance for succeeding in this business right now.
SOOT ANALYSIS Strengths: The products are of high quality 00% pure- chemical free Offers competitive price Excellent packaging Good distribution channel Weaknesses: It’s a start up business and so a huge amount must be spent for creating awareness Also the budget for marketing is limited Opportunities: The market is not crowded with herbal products Not many competitors in this business As few herbs can be grown only in India there is large scope for exporting the products to the nearby countries Threats: Erratic weather conditions can lower the field yields There a few competitors for this business: The products from the super markets:
The problem with these products is that the packaging is not very good and so the products will not have a long shelf life. Products from Private companies: It includes companies like Forest Essentials, Boutique, Himalaya, Dabber and Lotus. They are big players but the disadvantage is that the products are not 100% pure (they use preservatives and emulsifying agents) and are quite expensive. Products from local shops: The products of the local shops are of poor quality.
MARKETING STRATEGY MISSION STATEMENT Our mission is to delight the customers with our high quality and safe herbal reduces and build a long term customer loyalty. OBJECTIVES Our initial objective is to create customer awareness about the range of products offered by us To develop a customer base To build long term customer loyalty Thereby achieving greater profitability STRATEGY Segmentation, Targeting & Positioning Since the company is based in Tamil Nadia, it plans to concentrate on the market in and around Tamil Nadia. It segments the market into rural and urban.
It focuses only on the urban market under which it targets both the individual customers and other commercial businesses (industries). It plans to position the product as High quality 100% chemical free Safe to use Long shelf life Competitive price PRODUCT OFFERING Tony herbs offers variety of products in the form of powder, capsules, essential oils and extracts without any added preservatives and emulsifying agents. The products are in their purest form and are of high quality. Tony herbs takes all measures to ensure that packing & sealing processes are never compromised which in turn ensure long shelf life.
To offer consistent customer satisfaction with high quality products Tony Herbs follows strict quality control measures, right from procurement, ill packing and dispatching of the entire consignment. PRICE It will offer competitive price for individual customers. This is done in order to create awareness and to stay ahead of the competitors. Offering low price will eventually For other industries it will initially offer products for lower prices and when once it has established a position in the market it will offer its products at reasonable price to them.
Tony Herbs plans to promote its products through the following methods: Advertisements through television channels Advertisements through newspapers and radio Sample packets with magazines and newspapers Selling the products in local exhibition and fair Gifting the products to celebrities in reality shows Networking through managers and owners of other businesses For the individual customers, along with the products the company provides instruction manual on how to use the products for different purposes.
This will, in a way help the individual customers to get rid of their fear of using the products. Also the company offers certain accessories like bowl and applying brush for free. FEED BACK Tony Herbs plans to get feedback from its customers periodically. This will help it to improve its products according to the suggestions given by the customers. By doing so, Tony Herbs can prove that it can do anything for the customer satisfaction even at the expense of short term profits as this investment would pay off with long term customer loyalty.
The company has its own retail shops in important cities like Achaean, Madeira, Benedictory, Cuddlier, Upstream, Salem, Bangor and other nearby cities. It has 15 retail shops in the major cities in and around Tamil Nadia The individual customers can get the desired products from these shops It will also sell its products wrought supermarkets. In each supermarket it will allot its sales people to display their products and its attributes.
The industries will have their products delivered in their respective places of production. The delivery of raw materials will be free of cost initially. The company will start its sales only from the 3rd month of its business. The first two months are spent in harvesting the plants and generating the products.
Thus the actual sales start from the third month. From the third month production and sales increase steadily. Initially sales will not be that impressive but later it will pick up the pace. SALES Industries Total sales Evaluation helps to find out whether the company has achieved its goals. Continuous monitoring and controlling will prevent the company from getting distracted from its set path. The following areas will be continuously monitored for measuring and monitoring the performance of the company.
Revenue from the business: It will be monitored monthly, quarterly and annually. Expenses incurred in the business will also be monitored monthly, quarterly and annually. Sustained growth in profit should be achieved Customer satisfaction, customer delight and customer loyalty, all these three factors must be monitored every now and then. Tony herbs will very soon enter the market and with all its attributes as competitive advantage would certainly gain great awareness in the market and would eventually reach greater heights of prosperity.