Date post: | 02-Dec-2015 |
Category: |
Documents |
Upload: | yusfarisyam-fauzi |
View: | 218 times |
Download: | 3 times |
IDEAS FOR TODAY AND TOMORROW
GINGER KINGBy:1. Yusfarisyam Fauzi2. Lee Sook Kuan3. Noor Hazlina Ihzanullah Khan
Vision
To be the best and most trusted ginger-based product
supplier in Asia region
Goals and Objectives
Establishment of “Ginger King” as a well known and trusted brand
Products creation which goal is to exceed customers' expectations.
Compliance and Certification for products and processes
Short Term – First 3 years Asia Market
penetration
Diversification of ginger-based product
Long Term – After 3 years
Today’s Overview Ginger King is a Malaysian company producing (Bentong breed) ginger-based food and toiletry products.
It has a ginger farm and factory located in Karak, Pahang, and a sales office in Kuala Lumpur.
Current product:◦ Edible food in the form of ginger powder◦ Ginger-lab range consisting of toothpaste, and shampoo.
Why Ginger?
Common ingredient in
Asian and Indian cuisine
Use for relieving digestive problems such as
nausea, loss of appetite,
motion sickness and
pain.
Decreases the risk
of obesity, diabetes, he
art disease and
overall mortality
Promoting a healthy
complexion and hair, increased
energy and overall lower
weight
Constructive CriticismGinger Farm
• Planting and Harvesting of the Ginger need to be planned properly since it is in the hillside to ensure ecosystem and environmental sustainability is maintained and to avoid landslide incident
• The safety at the workplace need to be enhanced in according to labor act and provide any necessary contingency barrier
Processing Area
• Ginger drying process using sunshine and zinc might have side effect
• Concern on the hygienic of the workers performing ginger cleaning with bare hand and also cutting the ginger manually using knife
Final Product
• Packaging is too conventional and unattractive which looks like old Chinese herb. Difficult to attract young generation.
SWOT AnalysisStrength• Owns local ginger farm• Simple farming and processes
• To identify more point we require info:• sales records for the past few months to
identify the potential growth;• Numbers of employees
Weakness• Low usage of technology• Lack of innovative products• Low skill labour• Lack of food safety and quality
certification
Opportunities• Growing awareness on ginger
health benefits;• Growing demand for healthy living• Potential consumers around Asia
Region that understand the benefits of ginger
Threats• Unpredicted weather• Numbers of competitors• Soil management• Customers perception on local
products
Market analysis-Porter’s 5 Forces
Ease of entry (moderate)-local and international brands -laws and regulations involved:
approval from Ministry of Health, GMP,
-low to moderate cost of setting up business
Threat of substitutes (moderate)-lotions/balm
-doctors
Bargaining power of suppliers (high)
-few suppliers-gingers taken only from
Bentong
Bargaining power of customers
(high)-variety of choices in the market
-low switching cost-low to moderate brand loyalty
Competitors (high)Health supplementary
products from Blackmores, GlaxoSmithKline, Amway,
Herbalife, Dunia Herbs
Target Market -health-conscious customers (maintain normal blood circulation, strengthen immunity)
-those who are suffering from stomach-related illnesses (boating, flatulence, loss of appetite)
-pregnant women
Medium income group of all races Those who live in
cities and suburbs
Adult and elderly Health-consciouspeople
Operation Strategy
Planting and Harvesting
Planting rotation to ensure soil fertility is maintained
Sectional Harvesting to avoid landslide
Using organics fertilizer and pesticides to avoid side effects
Training from Ministry of Agriculture (MoA) division
Ginger Processing
Custom made machineries for quick and safer drying process
Proper glove for employee when dealing with material for hygienic
Automation of cleaning and cutting process
Process Analysis
Marketing StrategyEmpowering the “Ginger
King” brandGain certification and
endorsement from accountable body for the product
Sponsoring in the mainstream TV program
More Corporate Social Responsibility (CSR)
involvement
Joining expositions and fairs to promote brand
Products
Innovation and creativity in the
packaging
Highest standard of quality by improving
the process
Exploring the drinking water
product
Market
“Halal” certification for Muslim
market
Franchising and online dropship program
Place
Direct selling
-fairs and expositions-retail outlets
Funding StrategyMinistry of Agriculture – All
certification in place
Initial public offering (IPO) issuance – the brand is well
known plus the company future prospect looks
promising
Perbadanan Usahawan National Berhad (PUNB) –
Good business plan
Joint venture – food processing company which
can also be oversea companies
Loan from banks – perform financial feasibility study based on previous data, future growth, risk
and return i.e payback period, NPV, IRR etc.
Strategic PlanningHiring Strong Management Team:
Operation Manager - Analyzing and restructuring the overall process of operation. Must have good background in agriculture and food processing
Marketing Manager - Empowering the brand into the next level and have expertise with the latest trend of business
Financial Manager – preparing the future business prospect for funding strategy and analyze the suitability of every choice based of feasibility study
Employee Training and Development program
Employee engagement and good working culture
Adapting human governance concept
Market Competitiveness and Behaviour
Awareness• The
importance of healthy product as supplement
Price• To compare
against similar product
• Higher production can lower the price
Forecast• Demand and
supply• Regression
analysis
Conclusion With a good and proper business plan, Ginger King brand has great potential to be the best supplier for ginger-based product in Asia. The growth can make good business sense - better brand recognition, building value in the business for employees and customers, offering a wider range of products and services to a larger geographical market, and creating "economies of scale."
The entrepreneur is that endless challenge seeker. Once their small business is humming along, growth is the next exciting challenge