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Ecommerce business.
(No copy, No plagiarism – Turnitin check)
10 pages minimum.
Business will start in January 2021.
Company’s name: ProPrebiotics
Dead line: June 04, 2020 – 9 am – Pacific time – California time
1. Executive Summary (While appearing first, this section is written last.)
Tell the story
• What is the main objective of the business?
• What is the business opportunity? (Describe the need, problem etc)
• What is the solution? (How will the need or problem be addressed?)
• What is the target market?
• What are the overall expectations?
• Size the market
• What is the go-to market strategy? (How can you get access to the market and expand)
• Business model-Briefly describe the business mechanics
• Marketing and sales
2. Mission Statement (Ready)
We are committed to bringing a memorable experience focusing on a healthy lifestyle for the greatest number of people with excellence in products and services.
Our natural solutions are safety designed with the best natural ingredients promoting digestive, metabolic and immune health that allows a healthy balance around daily activities for our customers.
3. Industry background
· Describe the industry, market and the competitive environment.
· Difference between Probiotics vs. Prebiotics
3.1 Keys to success
· Define what you could define as your key to success
Market share, profitable, etc
4. Services / Products (Describe both) (400 words minimum)
a. What is it?
Physician-formulated synbiotic Product (Probiotics & Prebiotics combined)
Non-GMO / Low calorie / Vegan / Natural / Organic (when is possible) / Gluten Free, Soy Free, Nut Free, Yeast Free / No Artificial Colors, artificial Flavors, Sweeteners or Preservatives; Room Temperature Stable; No Refrigeration Required; Made in the USA
50 Billion CFUs and 15 clinically studied strains
• 3 ways of consumption: Capsules, powder, Stick pack
Capsule – 60; 90 or 120 units (take twice a day)
Cost $40 / $50 / $65
Powder – 30 servings – (226g – 8oz) – Cost $40
3 Flavors: Lemonade; Raspberry; Flavorless
Stick pack powder – 30; 45 or 60 units – 0.05oz – 1.5g) each pack
Cost/price $40 / $50 / $65
3 Flavors: Lemonade; Raspberry; Flavorless
Service: VIP members – through website Subscription. Members will get information about health, diet and travel…. Product discounts. ($17/month (60
% add to cart, Stick rate 4 Months)
— Information site / partnerships (zero cost of product)
b. How do you sell it and at what price? (Describe how ecommerce works to sell probiotics supplements. Advantages and disadvantages ecommerce for this market)
Through company website and Amazon.
c. Describe the unique characteristics compared to competitors and alternatives.
5. The business model (400 words minimum)
i. How do you make money?
ii. What are the metrics that help you make money? (Repeat customers, renewals, avg sales per customer etc)
6. Opportunity
• Expand upon with more detail than the executive summary
• What is the problem
• What is the solution
• What is your target market? (Describe what, why, how, when)
Target Market / Marketing Segmentation
– Primary – Female and Male – age 24 – 40
– Secondary – Women 45 – 54 / Men 55 – 64
– Start operation in North America (U.S.). Following years in Brazil, Europe (France, UK), and Asian (China, India, Japan) markets.
• What is the competition or alternatives to the solution? (Describe Minimum 250 words)
7. Execution Plan (describe marketing plan and sales strategy)
7.1. The marketing strategy: defines what you want to achieve and is the part of your business plan that defines your “go to market” (customers, product, engagement) and defines “success”. A marketing plan is a business document that details and outlines your business marketing strategy. (400 words minimum)
7.2. Sales strategy (describe how the company will drive sales strategy)
7.2.a. Website
7.2.b. Social media is something that every business plan needs to address (Define how you plan to utilize social media to connect with customers/potential customers).
It should be multifacete (ie using multiple platforms Facebook, Instagram and Blog partnership).
7.3. Advertising (How will the company advertise it)
8. Operation Plan / strategic plan
• The operations plan is you tool to carry out the strategic plan that is developed in the business case model
• It should be aligned to accomplish the goals set forth in the overall plan relative to:
• Revenue (Market share, go to market strategy etc)
• Expenses (Marketing advertising and operating expenses)
• Profitability
Define what are the most important goals
• Keep it simple and understandable so everyone can understand what the goals are
• Complexity makes it harder for everyone to understand how they can help achieve goals
• Focus on:
• Organizational structure to achieve goals
• Quality measure and concrete measures in progress/attainment of goals
Use leading – not lagging – indicators
• Develop KPI (key performance indicators) that are actionable
• Examples of leading indicators:
• Customer satisfaction
• Online reviews
• Employee turnover
• Lagging indicators
• Inventory turns
• Days sales outstanding
• Gross margins
• The KPI’s and metrics will help guide the company
• It is important to have a balanced approach to KPI’s to:
• Communicate what needs to be accomplished (strategy)
• Align the day-to-day work with the strategy
• Prioritize projects, products, and services
• Measure and monitor progress towards strategic targets
Must have/answer:
– What is an operations plan?
– The operations plan should serve as a guide for operating the organization that ensures goals are met.
– Who should be working on what? (Structure, responsibilities)
– CMO: He will be responsible for planning, developing, implementing and monitoring marketing strategies and sales.
– COO: She will be responsible for designing, implementing and overseeing operations of the company, establishing polices that promote company culture, customer relations management, supplies, sales and website.
– 3 people to work remotely in customer service. One to be hired after 6 months after the company started its activities, and two in the second year.
– How will you allocate resources on a given task? (Priorities/strategy)
– How will you measure operational effectiveness? (KPI’s/Metrics)
– Monitor performance to the plan. How? Why?
** Steps to develop the Operations plan:
Start
with your strategic plan.
Focus on your most important goals.
Use both leading and lagging indicators.
Develop KPI’s (Key Performance Indicators) with a broad
perspective.
Communication and continuous feedback.
9. SWOT ANALYSIS
• Focus on internal (Strengths and Weaknesses)
• And external (Opportunities and Threat)
• SWOT Analysis is a simple but useful framework for analyzing strengths and weaknesses, and the opportunities and threats that you face. It helps you focus on your strengths, minimize threats, and take the greatest possible advantage of opportunities available to you.
• Be proactive and understand what is working well and what is an area to improve upon on where issues might arise.
INTERNAL FOCUS (MICRO)
• Current performance
• Brand power
• Cost structure
• Product portfolio
• R&D pipeline
• Technical mastery
• Employee skills
• Company culture
EXTERNAL FOCUS (MACRO)
• Customers
• Pricing constraints
• Competitors
• Distribution issues
• Technology
• Macroeconomy
• Regulation
• Workstyle trends
• Major uncertainties
• Suppliers
• Potential partners
10. Competitors (Analyze the companys advantages and disadvantages compared to the main competitors)
Mainly competitors:
– Ora (www.ora.organic.com)
– GoLive (https://golivebewell.com/)
– Hum (https://www.humnutrition.com/)
– Primalharvest (https://primalharvest.com/products/primal-probiotics?variant=31647334793295&gclid=CjwKCAjw8df2BRA3EiwAvfZWaH3fe0G4fXmsGZ08GhB50aea3gHVoLEj04XI1koc2bzMEDbYEDhRkhoCB7MQAvD_BwE)
– BiomeMD (https://1md.org/product/biome-md-shopping?tr=l9YYYYl&gclid=CjwKCAjw8df2BRA3EiwAvfZWaLT0L8OtVUe-cwJVZEtBYkhkheHNIeXDdzOzj5ZHoC62lokIB1qCAhoC364QAvD_BwE)
– Puori (https://puori.com/products/sb3-probiotics-prebiotics?variant=30342593347677&currency=USD&utm_medium=product_sync&utm_source=google&utm_content=sag_organic&utm_campaign=sag_organic&gclsrc=aw.ds&?utm_campaign=gs-2020-02-25&utm_source=google&utm_medium=smart_campaign&gclid=CjwKCAjw8df2BRA3EiwAvfZWaHJnjEPK6_hbC-2CpSCO27_AVADgH7rudUm1a91ZQGnkXaJdv3Y3bhoCDGAQAvD_BwE
References to help: (Add more references)
https://www.businesswire.com/news/home/20200428005487/en/Global-Probiotics-Market-2020-2024—Vendors#:~:text=The
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https://www.marketwatch.com/press-release/global-probiotics-market—growth-trends-and-forecast-2020—2025-2020-05-01?tesla=y
https://www.mordorintelligence.com/industry-reports/probiotics-market
https://www.globenewswire.com/news-release/2020/02/06/1981205/0/en/Probiotics-Market-To-Reach-USD-78-3-Billion-By-2026-Reports-And-Data.html
https://www.naturalproductsinsider.com/probiotics-prebiotics/prebiotic-versatility-bodes-well-market