Finlatics Investment Banking Experience Program - Project 1
A conventional and potentially optimal, profile-idea combination could be.
(Engineer with an MBA degree, and has previous experience of working in
Information Technology.) and A (Health foods company)
I would feel this is the best combination because to launch a product the person
should possess some management skills and technical knowledge so that it can
reach more consumers in the market.
TEST MARKETING:
As the product (snack bars, juices, and cereals) is already launched and is
finding for correct market fit the best thing that would help the product to
reach the maximum customers is to review the product before launching it
and taking proper measures for the quality of product.
Review can be taken on many ways such as paid surveys, market research
mobile apps, consignment testing, and freelance market researchers are all
cost-effective ways to test-market your product. It pays to get real-world
feedback before launching a new product.
Once the review step is done and gathering all the necessary information
from the customers and considering their opinions and recommendations
and adapt the product accordingly and now the product is ready to launch.
PRE-LAUNCH:
Before launching the product, the there are some effective ways to reach wider
audience and attract them about the product, some of the ways are:
1. Exclusive previews
2. Introductory offers
3. Google My Business promotions
4. Contests and giveaways
5. Email marketing
6. Blog posts
7. Events (virtual and in-person)
8. Upgrades
9. Trade-ins
10.Customer reviews
11.Social media posts
BUILDING A CORE TEAM:
He cannot do all the mentioned things single handed so he must acquire a
loyal team who has previous work experience in digital marketing so that they
can share their knowledge in how to promote the product and their
suggestions would help the person in many ways and make the product
successful.
POSSIBLE HURDLES WHILE LAUNCHING THE PRODUCT:
Initially Arjun may face problems as the product is regarding healthy
food and as generally public would not prefer the healthy products and
have minimum consciousness about health, however recent pandemic
i.e., Covid has happened, and this has brought the public the
importance of protecting their health so this might help the product in
many which ways and Arjun should use this opportunity wisely to reach
maximum consumers.
As there are many products out there in the market which offers the
healthy and tasty food products, but competition is present in all
industries and need to overcome those challenges and being genuine
with the product will result in standalone.
ARJUN’S DRIVING FORCE :
Building and sustaining a successful system may open the door to FinTech, but
running it and distinguishing it from its competitors necessitates a completely
different set of abilities. Arjun has an advantage in that he is incredibly enthusiastic
about his business. Selling a service or a product is much more than a friendly smile
and a clean pair of shoes; it is passion that increases the value of a company
providing in the perspective of the customer
SIMILAR STORY :
Vishal Shah’s chemical engineering background opened up opportunities to
use technology to disrupt the food industry with innovative products. He
wanted to leverage the latest technologies to add ease, create value, and
inspire a healthier lifestyle.
He started Storia Foods & Beverages in 2016 with the vision to offer
convenience and sustainability and inspire a healthier lifestyle through
nutrition-charged products.
Storia deals in four SKUs (stock keeping units), including coconut water, which
was its first launch. Then came fresh fruit juices, shakes, and beverage
whitener (milk powder).
“The products are developed through an aseptic technique with no
preservatives added in the liquid that can be consumed within six months
from the date of packaging without refrigeration storage. Our juices and
shakes have high fruit content and are packaged in bottles under cold
conditions,” he says.
CONCLUSION :
Overall, I believe Arjun's passion for his concept outweighs his lack of
qualifications and expertise. I believe that this game-changing idea can be turned
into a solid tangible product with a team that is willing to jump positions as
needed and Arjun's commercial acumen.
a healthy diet and a proper nutrition prevent health problems, and supply your
body with the right balance of carbohydrates, proteins, minerals and vitamins.
Diet contain all kinds of food in required proportion is referred to balance diet.
Therefore for someone to have a healthy living he should mindful of the diet and
ensure it is a balanced diet. Arjun’s idea would definitely bring him success as the
product is the hour of need.
