Food Product, Market and Industry Description - Essay Example

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Summary

The paper "Food Product, Market and Industry Description" states that the best way to convince the departments that the product works and should be spun off into a new subsidiary is to have it tested. We can run product testing across departments internally to convince them that the product works…

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Food Product, Market and Industry Description

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Subject: Business
Type: Essay
Level: Masters
Pages: 1 (250 words)
Downloads: 2
Author: dleffler

Extract of sample "Food Product, Market and Industry Description"

A. The industry – We will target the supplement and wellness industry which is a huge market.
B. Market size – all adults can be practically our market as this can substitute the regular meal.
C. Team requirements – for product development, it will be just the Research and Development Team will be responsible for creating the product to be guided by the Marketing Team for its viability in the market.
D. Scalability of product – the product can be produced en masse because it is just a pill which can lower our production cost.
E. Profit Potential – Considering the scale of the market and the minimal cost of producing the product, the profit potential is huge.

This can be easily done by letting our employees use the pill for a few days without the regular meal and asking them through questionnaire surveys if the product really works. We are confident it will work because we have already tested the product ourselves.

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