Steps for Making Business Plan In 2021 – Independent Business Standings
The first and foremost step is to define the summary of the company. Let’s recap how the summary of the company is formed by taking the right place.
We are introducing a tetra pack milk, whose name is purest milk in the supervision of “Purest Dairy Pvt Ltd”. Purest is a private limited company which his owned by the Pakistanis. The company has five shareholders; all shareholders have equally 20% shares—Purest company located in Karachi and serving for ten years. We are currently selling fresh cream, yogurt, butter, cheese, and all other dairy products and our target market is mass.
Products and Services
The second step is to define what product workings and service are following apart in the business. Let’s take an example of how to represent product and service in the industry.
After a short tenure of market research, we are launching UHT milk in the Pakistani market, Purest milk. It’s a tetra pack milk like Olpers and Milk Pak. For making this our raw material is cow milk which we will collect t from rural areas of Punjab and Sindh and then process it through UHT treatment and sell it to customers in convenient and handy packing which will easy to use. This milk can be used for making juices, whitening tea, and to drink separately. Purest milk gives wholesome nourishment. Although our mission is to distribute our product all over Pakistan initially, it is not possible for us because we have minimal distribution channel. In the beginning, we will only target urban and suburban areas. Initially, we will use an indirect distribution channel. After a year, when we understand that our product reaches at Star or cash cow level, we will introduce our distribution channel. As far as the future is c on earned, we plan that after capturing the tetra pack market share we will introduce flavoured milk juices, it can help us make a strong relationship with customers, or we can say it will cause to increase brand loyalty.
Market Analysis Summary
The third step in the analysis of the product into the market. Let take an example of how defining the right market analysis via summary.
Tetra milk pack is one of the most extensive consuming products in the world. Milk production in Pakistan has a constant increase during the last two decades. According to the dairy index report in 2016, Pakistan is the third-largest milk-producing and consuming country in the world. In 2014- 2015 it produced around 42.4 million tons of milk, and as a growing population of Pakistan in the future, its demand will likely increase because of various underlying factors. People spend around more than 26% of food budget on milk and other dairy products and about 80% the total milk produced in a country came from the rural areas, 15% from Peru-urban and 5% of suburban regions. Cows and Buffalos are the major milk-producing animals with a ratio of 62% and 34%.
Moreover, as Pakistan livestock farming is underdeveloped with no proper system and technology, so in Pakistan annually, it does not produce milk according to people’s demand and consumption. Also, as livestock farmers are not educated; therefore, they don’t know the use of technology and advance systems. People in Pakistan faced low-quality milk, lack of hygiene and adulterated milk. We will need to set up the advanced machinery to extract milk from cows with ISO standards and maintain hygiene factors. Our target market will be males and females from age 3 to 65 years, living in urban and suburban cities such as Karac hi, Lahore Islamabad, Peshawar, Multan, Quetta, Sukkur, Hyderabad, Sialkot and Faisalabad etc. Our product purest milk will mainly target the family members, Conscious health people, athletes, and c children. Our cows and buffalos produce the pure milk-free of hormones injection and no mixture of water. In Pakistan about 75 per cent of the total production of raw milk is made in Punjab, 14 per cent in Sindh 10 per cent in KPK and only 1 per cent in Baluchistan which means that we need to work on our northern sector and Baluchistan province to increase the production process of milk and to overcome our demand.
Strategy and Implementation
The fourth steps are to plan the strategies and the relevant implementation of those strategies. Let’s have a look at how design and implementation are formed up:
Recently, there have been numerous cases about malpractices within the dairy industry that have elicited public discontent. Producers use different kinds of adulterations, including water, thickening agents, and toxic whiteners to raise profit margins. We will ensure customers by using marketing activities that our product is hygienic, and we will take all the initiatives to produce safe and healthy milk. As far as the market segment is a concern, we will spread awareness of our product among our market segment by using a different kind of advertisement campaigns which we already mentioned in management team task, and we also said that our market segment is based on urban and suburban population which are 3 to 75 years old. Our possible monthly sale is around 6 million, and our potential profit is 1.5 million.
The fifth steps are making the right marketing strategies. Let’s have a look at the same example of how marketing strategies are formed up.
Our target market involves males and females from age 3 to 65 years, living in urban and suburban cities such as Karac hi, Lahore Islamabad, Peshawar, Quetta, Sukkur, Hyderabad, Sialkot and Faisalabad. Furthermore, we will be launching another milk product “Pure Vita”, and it will be targeted toward women from the age of 18 till 45 (which will help counter osteoporosis developing in women). Moreover, our tetra- PAC product “PurestMilk” will be available at various retail and utility stores. Further, we will be distributing our product through third-party agencies so that our product is available in small and big stores, marts and the convenient shops. On the other hand, we will be utilizing social/digital media and traditional media. In social media marketing, we will be using Facebook, Instagram and Pinterest for promoting our product.
Furthermore, we will be using social media influencers such has Danish Ali, Bekaar Films and Karac hi Vines, which comes under native content marketing, for promoting our product through their contents on social media. Moreover, Traditional media such as TVC and radio will effectively be used for or tetra- pack product promotion during peak hours’ time reaching a massive audience. Furthermore, we will have Nadia Husain as our brand ambassador. Also, for some store, such as Imtiaz supermarket and Carrefour, we will assign shelf spacing so that our products get to pick up by the customer first.
Last but of course least sales strategies in the business plan is equally essential to be included sales strategy of the same example of milk pack is as follow.
We will apply different sales strategies to our business: We will be providing 24/7 home delivery services to our customers. Customers can call us on our landline number or can also place an order online from our website. We will give our customers a monthly discount and free delivery without any c charges. We will provide the customers with coupon/voucher, so when they get the milk, they have to give the coupon to the rider in terms of money. Coupon booklet will be given to customers; for example, they will pay in advance for the 100 booklet coupon which will be valid.
The blog’s final thought is that it aids with how we make the business plan in a manner which is a fundamental and essential step to be followed by running an independent business.
The critical point that needs to be in mind is that before taking any vital decision consider Reviews of the particular such as Online Business Tools Reviews then take the right end of judgment.