For Sochien; Topic: Project Management: Risk Planning
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Projectproposal_final.docxRunning head: PROJECT PROPOSAL 1
PROJECT PROPOSAL 2
Project Proposal; Adel Fruit Juices
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Project Description and Background
Adel organic juices will target American domestic market and overseas’ markets. Adel Inc already sells an array of conventional agricultural products. In the recent years, the organization has experienced unsettling trends in turnovers and profits. The company’s sales have dwindled steadily since 2016; in a bid to revert such worrying trends, the company has explored various marketing and promotional strategies to give its products the kind of visibilities that can bump sales, however, all most all the strategies explored have yielded negligible results.
The market for organic fruit juices lies fully untapped in the US and elsewhere on the globe. Adel organic fruit juices have the potential of turning the organization’s woes on its heads by earning the organization a bigger market share both in the US and abroad. That way, the Adel Inc. would once again realize increased sales and consequently high profits. The desirability of Adele organic fruit juice is incontestable (Sahota, 2010). Existing literature reveal that consumers have higher preferences for organic fruit juices over juices manufactured from conventional agricultural products (Lester, Manthey, & Buslig, 2007). Adel organic fruit juice would certainly become popular among clients; the triple bottom line approach that would be applied during the manufacture of the organic fruit juices does not only stand to bolster the organization’s bottom line but also, in a remarkable way, help preserve the environment and empower communities.
Adele Inc is situated in Blakely, Georgia. If funded, the project could kick off from 15th December 2019. Operational costs running to a tune of $150 million would cover product development, marketing, production, and transportation, research, and patents. Of note though, the project will be rolled out in phases. The first phase will attract a funding of $ 65 million and then the other phases will follow. Adele fruit juice is projected to rake $10-15 million in profits at the end of the first quarter of 2020. The profits are expected to increase by 15% and 30% at the end of the second and third quarter of 2020 respectively. The project is viable for Adele Inc because the company can leverage most of its existing infrastructure to kick-start the production of Adel organic fruit juices. An example, the company could ride on its expert’s capability to manufacture food products, its unfailing creditor’s goodwill to cheat logistical hurdles in ways that could save the company time and money. The company, therefore, has the advantage of rolling out operations within a short time, a reality that would make it the first company to aggressively explore a market that has greater potentials.
By introducing Adele organic juices, the company could also, in a way, redefine its position in the market. Applying clean technology in the production of its organic fruit juices may heighten its desirability in a way that may consequently increase the sales of its other products those are not necessarily organic. The product is equally feasible for overseas markets because nations seek to achieve millennium developments goals that seek to promote sustainable agriculture and improved nutrition. Adel organic fruit juices particularly could help realize the need for improved nutrition in the African market.
Project Objective
Other than realizing profits, through its Adel fruit juices, the project seeks to conserve the environment, tap into a market that has great potential, improve people’s health by providing a product devoid of preservatives. Also, the company hopes to satisfy a growing need for organic products that exist in the American market.
Strategies that must be done to meet the objectives
The project hopes to employ an array of low-cost effective marketing techniques to create awareness around Adel fruit juices. Among the options that would be explored include using email marketing, and the use of product trade publications. In addition, the project team will use an array of promotional to increase the product's visibility. The project team will also have Adel existing website tweaked to feature information about the new product. Furthermore, the reality of competition will be addressed by mounting elaborate marketing campaigns that will have the market informed about Adel fruit juices. Of note, from the previous feasibility studies, organic fruit juices have proved to be popular among buyers. However, still, there will be a need for marketing to upset the influence of conventional juice brands, some of which enjoy the first mover advantage. Because policy and regulatory requirements are not cumbersome to achieve, more time would be focused on studying various feasible competitive game plans as well as in development and testing of Adel fruit juices.
Desired Impacts and Outcomes
The project hopes to create employment in the project area, contribute towards community welfare through cooperate social responsibility initiatives. Also, it seeks to curb lifestyle diseases such as obesity that bedevil economies such as the US. England medical journal indicated that two-thirds of American’s are obese. Adel organic fruit juices, if developed, could therefore, be a go-to alternative for people who wish to diminish chances picking up lifestyle diseases.
Risk management Plan
References
Lester, G., Manthey, J., & Buslig, B. (2007). Organic vs Conventionally Grown Rio Red Whole Grapefruit and Juice: Comparison of Production Inputs, Market Quality, Consumer Acceptance, and Human Health-Bioactive Compounds. J. Agric. Food Chem., 55(11), 4474-4480.
Sahota, A. (2010). The Global Market for Organic Food & Drink1. The world of organic agriculture: statistics and emerging trends 2008, 53.
