SOYBEAN MILK – AS AN

ALTERNATIVE

Submitted By: - Shruti Pendharkar

CONTENTS•INTRODUCTION

•S.WO.T. ANALYSIS

•QUESTION & ANSWERS

•CONCLUSION

INTRODUCTION

Dr. S. Chakrabarty, is Masters in food technology, Ph.D. in High Protien Products, & Working in HyPro Inc. as a director of R&D.

He wants to set up a plant in India to produce High Protein Products.

He came to know that India is very rich in soyabean so using this piece of information and his knowledge and past experience in the High Protein products field, he carried out several experiments to develop his product called “Soybean Milk”.

His target market were , poor undernourished children. He was technically confident about his product, but his

main doubt’s were Marketing related. Like, whether such products are viable or not?, what sort of distribution arrangement he should have? Etc.

FEATURES OF “SOYBEAN MILK”

High Protein Value.

Pasteurized, so no need of refrigeration.

Cheaper & more nutritious than the cost & benefits of regular milk + medicines.(Cost 15% more than regular milk.)

MILK WATER SOYABEAN & other raw materials

SOYABEAN MILK

S.W.O.T ANALYSIS

STRENGTHS Dr. Chakrabarty was technically strong.

Health benefits of “Soyabean Milk”.

Product planned for poor undernourished Indian families for maintaining their health &wealth .

Availability of soyabean in abundance in India.

Less competition.

WEAKNESSES First timer.

Being an NRI he had no idea regarding Indian market, norms, policies and procedures.

Had no proper plan regarding,

Where to set up the plant? Of what capacity? How to introduce his product? Etc.

OPPORTUNITIES

Less competitors

Can be launched in different flavors.

Rapid acceptance by health conscious people.

THREATS It is difficult to break strong dairy culture in

India.

Trust and personal selling relationship between of Indian families and milkmen.

QUESTION &

ANSWERS

WHAT TYPE OF INFORMATION SHOULD

DR. CHARKRABARTY COLLECT TO DECIDE ON THE SETTING UP OF THIS

PROJECT?

Operational Planning Data: - As a first timer he should have a clear roadmap answering all his questions of How, Where, Why, What, When etc. Like, Plant Location & Layout Availability of land w.r.t target market & availability of

soyabean. Basic requirements (Electricity water, manpower etc.) What are the raw material requirement and from where he

could get best reasonable material? Machinery requirement & availability of them on

competitive rates. Transportation facilities Construction material Contingency plans and risk management.

Contacts: - Information about best wholesalers, retailers distributors, suppliers, etc. close to plant and target market.

Packaging and labeling rules and guidelines in India.

Financial Data: - Labor cost Construction cost Material cost Transportation cost Production cost Sales, expenses and marketing budgets Availability of bank finance with low EMI, low rate of

interest and long duration.

Competitive data: - Data on who direct competitors are, their products, prices, etc. It also helps to identify indirect or potential competitors who may take you by surprise.

Market data: - Data about the size and growth rate of the market, who potential customers are, what they buy, when they buy, from whom and through whom do they buy, etc. Survey regarding customer’s views & willingness to pay for the product.

WHAT STRATEGY WOULD YOU RECOMMEND FOR

MARKETING OF SOYABEAN MILK IN INDIA FOR HIM?

Cause marketing•Poor Undernourished children•To make India healthy.

PR Marketing•Many effective marketers work with the media to bring awareness to their products and the benefits their products offer.

Content Marketing•content can be created and published on various platforms to give information about the health benefits of soyabean milk.

Niche Marketing•Differentiate market in different segments.•Undernourished poor people•Health conscious people

Promotional Marketing•strategies that can stimulate a customer to take action towards buying decision are: -•Free sample marketing•Buy one get one free

Penetration Pricing•capture market share by entering the market with a low price relative to the competition to attract buyers.•The idea is that the business will be able to raise awareness and get people to try the product.