The new business to be located on 500 Pioneer Street in the Central Sydney is to be called Sweetex Beverage international company limited. The market opportunity identificationIn the recent past, there has been rising complains on the harmful effects caused by the chemicals found in the juices currently being offered in the market. The beverage industry of Sodas has not been spared either with the Coca-Cola company products for instance being suspected for containing too much sugar that is not natural hence exposing consumers to health risks such as diabetes and cancers.
As such, there has been increased departure from consumption of juices that contain chemicals as well as sodas which calls for an alternative. Although some new companies have emerged claiming to provide these alternatives, there has been no other company that has attempted to provide pure fruit juices which combine many fruit juices hence offering a unique taste that is attractive while carrying many health benefits. Furthermore, no company makes herbal juice or juice specially made for diabetic individuals. Therefore there exists a market opportunity that Sweetex beverage seeks to satisfy by offering high quality fruit juices that are free of chemicals and which only contain natural sugars and hence do not pose health threats to any class of consumers. The business has the potential to be profitable since there are very many people who take fruit juices hence sales are likely to be high.
Furthermore, all the ingredients are locally available at very low costs while the production process is not so much labor intensive. This will lead to reduction in production costs and since we expect the sales to be high, the profit is also likely to be high. Product descriptionAs the name suggests, the company will deal with production and selling of fruit juices to be known as Sweetex beverage.
The juice will be made by mixing various kinds of fruit juices to give a unique taste not found in other fruit juices commonly found in the market. Various additives will then be added to produce different brands of Sweetex beverage. Three brands of Sweetex beverage will be manufactured i. e. Sweetex super, Sweetex herbal and Sweetex dietary.
Sweetex super will be manufactured mainly for children. Sweetex herbal will be a modification of Sweetex super and will target adults who would want to improve their health since it will contain herbal medicine extracts. On the other hand, Sweetex dietary will be a low sugar brand specially made for people with Diabetes but who would still want to take fruit juice without having any side effects. Identification of the target marketMethods used in target market identificationa) Market researchMarket research involves using various techniques such as surveys in collecting, analyzing and, making decision based on the data obtained about the potential consumers.
The data obtained will be either quantitative such as the ages of the consumers or qualitative such as their level of education. Another method of market research will include the data that will be obtained from the trade department and the municipal about the market