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A PROJECT ON A PRODUCT WITH A HERB. EDSBM PROJECT.
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The main part of the business concept was to make something which is healthy yet attractive to everyone, especially children and it should be made in a way which is healthy and helps to develop the women section of the society. Homemade products are the healthiest and those made by women, help to empower themselves and to grow in the society as equals. Homemade products are considered to be the healthiest as preservatives are not added to them due to various reasons and one of those being the sale of products being earlier than other packed products like Lays chips. The herb ‘Sarasaparilla’, better known as ‘Nannari’ is a wonder herb which would come in handy during summer, with its cooling medicinal property of protecting one from common summer ailments. Our ancestors used to drink a mixture of extracts from ‘Nannari’ roots, adding a tint of lime juice and palm sugar (panamkalkandam) to keep them cool during summer. However, the palm sugar was replaced with white sugar, and in course of time, people were drawn towards other attractive alternatives. Ice cream can be homemade and the required machines like refrigerator, etc can be bought and used at the appropriate step or part of the process. The nannari extract can be added along with the chocolate flavor in the appropriate step and the final product can be packed properly and delivered. The idea of this product is to improve the health of the youngsters of the country by feeding them their most favorite food by mixing the healthy herbs with it which becomes a 2 in 1 kind of idea- healthy and tasty food.
ABOUT NANNARI -The root of an endemic and endangered woody climber, Decalepis hamiltonii(scientific name of nannari root) is a valued source of a health drink nannari sharbath. This drink is quite common in Rayalaseema districts due to it medicinal values viz, stomach coolant, blood purification, relief provider from constipation and acidity. ABOUT PRODUCT- Nannari sharbath, like every healthy food item has a bad odor and taste. So if it was mixed with another flavor which could overpower the unpleasant odor and would taste good, it would be look inviting to children and other people who dislike nannari for its smell. PRODUCT HIGHLIGHT- Nannari root has medicinal values like cooling the stomach, purifying the blood, providing relief from constipation and acidity, toning the urinary system, relieve body pain and keeps the body cool. The chocolate flavor overpowers the unpleasant odor of nannari. The chocolate flavor helps in attracting children and others towards the product Chocolate and nannari together provide a unique taste which is good and helps to attract people towards it. The product is healthy and tasty at the same time. Product is homemade and is obviously healthy as no preservatives are added as this product is made and sold as demanded. Product is made by unemployed women and housewives which helps to encourage women entrepreneurship
Now that people are interested in Ayurveda and ayurvedic food, herbal ice creams are the right kind of product which should be introduced at this time to people so as to meet their demands.
Basic segments of customers expected for the ice cream industry in India are as follows- Children- from the age of 3 to 13 Teenagers- from the age of 13 to 18 Young adults- from the age of 18 to 25 Adults- from the age 25 to 50 Elderly- from the age 50 to 70 There are other ways to divide the customer base in the ice cream industry of India. Diabetic Non-diabetic People suffering from other diseases which causes a limitation on the sugar intake PIE CHART ON NO. OF DIABETIC PEOPLE IN INDIA (ZONE WISE)
Our firm will be competing against the major players of the industry and other local players who have become popular recently. The major players are – Amul Kwality Walls Mother diary Baskin Robbins Hatsun Agro Ibaco Cornetto Cream stone Magnum Arun ice cream, etc There are certain players who are local, but have become popular recently. They are as follows- Natural ice cream- by Raghunand Kamath Vadilal Cream bell Havmor Hangyo Dinshaw’s Top’ N Town These are the major companies of the ice cream industry. As per studies many trials of herbal ice creams have failed, and there isn’t
to utilize the human resources which are usually ignored and unemployed, in this case housewives and unemployed women.
There are various risks associated with this herbal ice cream, that too of chocolate nannari flavor- Consumers may not like the unique taste formed by combining chocolate and nannari There is a risk of the ice cream being spoilt before delivery Risk that some women entrepreneurs may quit their job due to pressure from their family Incorrect posture of the employees while manually handling certain items Reduced strength and weakening of the women employees due to facts like pregnancy, menopause, etc. Security of the employees causes many to hesitate to join the company Inadequate training of the employees Electrocution of the employees while handling the refrigerator and other machines Lack of education of women would also cause ignorance of safety measures in work place Fire at the workplace due to short circuit of any of the machines or due to lack of attention of the employees. These are the possible risks which may occur while handling the herbal ice cream. The main issue is the security of the employees who travel to and fro from faraway places and lack of personal transportation may cause them to quit their job.
Plus since only women employees work in this company, pregnancy, marriage, etc. would hinder their performance.
A marketing plan is a comprehensive document or blueprint that outlines a business advertising and marketing efforts for the coming year. It describes business activities involved in accomplishing specific marketing objectives within a set time frame. A marketing plan also includes a description of the current marketing position of a business, a discussion of the target market and a description of the marketing mix that a business will use to achieve their marketing goals. There are 4 elements of marketing mix- Product Place Price Promotion PRODUCT- The product is a homemade product. It is made by women, thus encouraging women entrepreneurship. The costs of the product can be met by using financial schemes which the Government especially made for encouraging women entrepreneurship. The highlights of the product have already been mentioned above. The product is a herbal ice cream and only one flavor is introduced as of now which is chocolate nannari. The product is healthy yet tasty and converts “guilty pleasures” to “healthy pleasure”.
A sales strategy is a company's plan to build its brand to generate sales and increase revenues. Businesses in today's digital environment have many avenues available for marketing and sales strategies. Lead aggregators send leads from print, television, radio and digital ads. Sales teams then work on converting leads to sales. Develop sales strategies that capture and convert leads to make the difference between poor, average and record sales numbers. There are certain aspects that have to be covered before making a sales strategy. They are as follows- Understanding the target market Appropriate budgeting Competitive advantage The consumer experience There are certain factors which have to be taken into consideration while making a sales strategy. They are- Be flexible Start with small niche markets Clearly articulate end results Lead with what’s in it for your prospect Perfect your sales pitch, etc. The sales strategy which will be used for homemade herbal ice cream-
Start with a small market, i.e. a trial with family, friends, acquaintances, etc. Set up a sales target on a weekly or daily basis Setting up stalls near parks, offices or in colleges during events, etc.
The equipment required for making homemade ice cream are- Ice cream maker Saucepan Large mixing bowl Whisk Refrigerator The equipment required for making nannari liquid concentrate for mixing it with the ice cream are- A large sieve A large boiling container A big ladle The dried nannari root powder can be bought from an Ayurveda shop at a small price, say 1kg would cost around a maximum of Rs.500. The powder can be mixed with the water in the ratio of 100g per 1 liter of water, and the water can be boiled till it reaches the boiling point by continuously stirring with the big ladle. Then the sediments should be filtered by using the sieve. The remaining liquid concentrate should be viscous and should be kept in the refrigerator or in a shelf in room temperature. Homemade ice cream can be done easily by browsing in the internet. The ice cream maker costs roughly Rs.2500. The
This firm is mainly a startup with women employees consisting of housewives and unemployed women. There are certain housewives who are graduates. They can be made a director of those 4 branches along with subordinates who have done SSLC or diploma. The others can be divided into teams.
A business exit strategy/plan is an entrepreneur's strategic plan to sell his or her ownership in a company to investors or another company. An exit strategy gives a business owner a way to reduce or liquidate his stake in a business and, if the business is successful, make a substantial profit. It can be a way of mergers and acquisition transaction. There isn’t much of machinery involved in this as it’s a quite simple procedure to make the product and the place of production is on rental basis. The exit plan would contain the following- Cancelling the rental contract with the landlord Remaining stock can be sold at the lowest price among friends and relatives The ice cream maker and refrigerator can be sold on online sites like olx, quikr, etc. The boiling vessel, ladle, whisk, bowl, sieve, etc can also be sold online or returned to the store where it was bought on a lower price than the original cost price The remaining nannari liquid concentrate can be sold to local Ayurveda shops The chocolate flavor or compound can be sold to local shops or can be sold as chocolates to consumers
The remaining raw materials for ice cream can be sold as separate items to local shops i.e. eggs, milk, cream, etc. The amount from selling these can be used for settlement of dues to the employees and to cover other costs incurred. This is the exit plan for the homemade herbal ice cream which is of chocolate nannari flavor.
There are various schemes available for encouraging women entrepreneurs in India. Some of them are as follows-
Priyadarshini Yojana Scheme by Bank of India Orient Mahila Vikas Yojana by Oriental Bank of Commerce NABARD schemes
The firm in order to have a positive attitude toward the business, i.e to believe that the firm can succeed, they should have certain future objectives. The objectives are as follows- Introducing new flavors under the same brand Expanding production in Chennai Expanding the business on an All-India basis Employing physically challenged people, widows, etc in the future as and when the business expands Improvement of the quality of product Trying the product in a market on an international level field These future objectives help to motivate the employees and the owner to make sure that the product succeeds at least in the local market and ensure that the product is of unique nature.
