Business Plan – Final

Company Description and SWOT Analysis

Company Description and SWOT Analysis

Create your revised NAB company name and explain its significance.

My NAB Company is named Happy Day. The name is meant to show the value attached to the brand and its beverages. The Nonalcoholic drink happy day is meant to promote both healthy drinking among the citizens, in family setting as well as to ensure those who drink the product are able to carry out their normal daily activities without having to experience the hangovers associated with alcoholic drinks. The name happy day is also a representative of the happy feelings that are experience by those who take the drinks. This nonalcoholic drink is to be associated with happy, joyful, and celebratory moments. The drinks also extend this happiness to the society by having happier, friendlier, and heathier families, neighborhoods, and societies.

Develop your revised company’s Mission Statement and provide a rationale for its components.

The Happy day nonalcoholic drinks exist to satisfy the happy momenta of friends, families, and societies by encouraging healthy drinking lifestyles and sober moments. This is to be achieved from an individual level will cascade to friends, then families, societies and nations.

The mission statement, “relieving happy moments for happier, healthy, and bright days ahead, every day”, will the driving slogan for the drink.

Describe the trends in the non-alcoholic beverage industry, especially the specific type of beverage category you have chosen.

The modern day societal awareness is shifting toward the health effect of alcoholic drinks is increasing and spreading rapidly. The increasing effect of diseases and other health conditions associated with alcoholic use, most people in the society are moving away from the drinks that are laden with high alcohol contents to those with very little or no alcoholic contents (Berry, 2016).

The nonalcoholic drinks sector is rapidly increasing in popularity among the global citizens. People are shifting to the drinks that are not only relieving happier moments but have no harm to their health conditions. Families are also spending more time together for celebratory moments and therefore require drinks that will be legally, socially, and ethically acceptable to all members of the society

Justify at least three (3) reasons why you have chosen this type of non-alcoholic beverage

The Happy day moment will meet these trends since it is not only nonalcoholic, meaning it can be used by all members of the society from children to the elderly, but has natural vitamin and other supplement that enhances the health of individuals. In addition, happy day drinks will have no hangover and inebriating ability making it appropriate for all occasions.

Choose one (1) strategic position that you believe is the best strategic position for your company. Explain the approach you will use to implement this strategic position in order to distinguish your beverage from other non-alcoholic beverage

Happy day seeks to occupy a premium value product position in the market. This involves creating a prestigious and niche market place in the market. This positon will be achieved through a differentiation strategy where the happy day product will set itself out from the rest of the products in the market (Sharp & Dawes, 2001). These products will be differentiated according to taste, creating variety of flavors, colors, and packaging. The drink will be packaged in high volumes, medium volumes as well as economy packages that will vary with the prices of the customers. There will also be different flavor to capture the various preferences of the diverse consumers. This differentiation will allow the firm to charge a premium price over the competitors (Hartline & Ferrell, 2011).

Provide an overview of your company’s distribution channels. Explain the manner in which your product will reach end users. Provide a rationale for your chosen method

The channels of distribution will be from the manufacturer to the consumers through several handlers. The firm will not establish independently owned outlets but will liaise with the leading retailers to avail the product on their shelves. The firm will purchase unique spaces in the leading stores, hypermarkets, wine shops, lounges and other entertainment joints to avail the drink at the convenience of the consumers. The customer will not have to walk to a specific place to purchase the drinks but will be access them on their daily routine activities.

The firm will also collaborate with other business to promote the product during special occasion such as football, soccer, and health awareness day where the product will be displayed and sold at discounts to the consumers.

Outline at least three (3) types of risks (including any regulatory risks) that your business faces. Describe your company’s plan to mitigate such risk

Financial risk to produce and promote the product is major challenge. We plan to have a scaled production and an external finance facility to mitigate this risk. The operations risk may force the production to stop due to lack of enough inputs and wrong procedure. We will have a coordinate operational procedure to ensure smooth running. In addition, the risk associated with the regulation will be mitigated by having a knowledgeable staff in the regulatory framework to ensure total compliance

Develop a SWOT analysis for your NAB Company

Strengths · Diverse flavors catering for wide customer base · Natural vitamin and supplements · Can be consumed by all members of household	Weaknesses · Happy day is a perfect substitute · A highly elastic demand making the demand change rapidly on a slight change
Opportunities · Increasing health awareness creating higher demand · Collaboration with hotels and health awareness campaigners	Threats · Cut throat competition from existing products · Threat of new market entrants

References

Berry, D. (2016, January 12). Beverage trends 2016. Retrieved from http://www.foodbusinessnews.net/articles/news_home/Consumer_Trends/2016/01/Beverage_trends_2016.aspx?ID=%7B1A678673-9FCB-425B-B902-11F7DE1840D6%7D&cck=1

Hartline, M. D., & Ferrell, O. (2011). Marketing Strategy (5 ed.). Mason, OH: South-Western Cengage Learning.

Sharp, B., & Dawes, J. (2001). What is Differentiation and How Does it Work ? Journal of Marketing Management, 17(7-8), 739-759. doi: 10.1362/026725701323366809