Business Development Plan for HECH Company in India

This business development plan focuses on HECH Company's expansion in India's beauty and wellness industry. It includes an analysis of the market potential, resources, and competitors in India. The plan follows a structured process of market research, cost-benefit analysis, resource planning, and competitor analysis. The macro environment of India is evaluated to understand the market attractiveness and potential of construction in India. The plan also includes the history, organizational structure, corporate philosophy, and culture of HECH Company.

Creating a Business
development plan for HECH
company in India

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
1.1 Objectives of the work..........................................................................................................3
1.2 Delimitation of the topic.......................................................................................................3
1.3 Procedure (course of action).................................................................................................4
2 BACKGROUND (FUNDAMENTALS)......................................................................................4
2.1 The business development plan from an international perspective......................................4
2.2 India 2022: General overview...............................................................................................5
2.3 HECH Company...................................................................................................................6
2.3.1 The history (20xx-20xx) and the organizational structure.................................................6
2.3.2 The corporate philosophy and culture................................................................................7
ENVIRONMENT AND COMPANY ANALYSIS.........................................................................7
3.1 The company external analysis.............................................................................................7
REFERENCES..............................................................................................................................14

INTRODUCTION
1.1 Objectives of the work
In order to get successful, it is necessary for the business to continuously look for
opportunity for growth and development. This is pertaining to the fact that the company cannot
work in isolation and also all the changes need to be adopted by the company for growing. Also,
the companies exist in external environment and there are many different changes that takes
place within the working of the company (Pal, Panda and Mukkamala, 2020). Hence, for getting
successful it is necessary for the company that they comply with all these changes and adapt
within their working such that they get successful. The current plan relates to HECH which was
established in 1970 at the time when Gertrud Heidrich and Eberhard combined their family
heritage within the farming and manufacturing. At the initial level the company was established
in Rhineland Palatinate within the region of Westerwald and it is known for extensive
vegetation.
The company provides for different types of the products to the consumer and this help
them in satisfying the need of them. The company continuously work on developing the
innovative nutrient product which includes vitamin, mineral supplement and others. Also, it
includes the special dietary requirement and plant protein based formulations. In the year 2020,
the company was leading team within the in- house nutrition scientist and also was having
culturally diverse staff. With the good business strategies over 1 million of HECH beauty and
nutrition products have been reaching to consumers in Asia, Europe, USA and Middle East.
Hence, now the company is planning to expand the business in India. This is pertaining to the
fact that India is a developing country and now the trend is changing towards focusing in
personal wellness and development. More people are getting attracted towards the use of
personal wellness products which can assist them in their better life and living standard.
1.2 Delimitation of the topic
The delimitation is being defined as the boundaries of the research on the basis of which
researchers decide that what should be included within the study and what should be excluded.
This is very necessary for the company to set the delimitation such that the goals of company do
not become impossible large to attain (Shroff, Diedrichs and Craddock, 2018). Hence, for this

the objectives set for the present business expansion plan for expanding the business in India are
as follows-
Research objectives
 To analyse the environmental condition of India before expanding the business in the
country.
 To evaluate the resources which the company can use in India for the effective expansion
of the business.
 To examine the different competitors, present in India before entering within the country.
1.3 Procedure (course of action)
The expansion of the company within any new country is not an easy task and a lot of
hard work need to be done. This is particularly because of the reason that it involves a low of
research to be conducted and also high amount of investment, cost and resources will also be
applied (Ruhela and et.al., 2018). Thus this involves a proper process to be followed in case of
expanding the business in India. For this business plan development of HECH need to be
undertaken in structured manner.
The process or the course of action which will be followed by HECH for the expansion in
India will first include the intense market research. This is particularly because of the reason that
when the company will be conducting in- depth research then this will improve the base for
expansion more strong. The reason underlying this fact is that when the company will conduct a
detailed research then this will be improving the working efficiency in better and effective
manner (Mohammed, Medina and Romo, 2018). After the research, cost benefit analysis will be
conducted that is whether it is beneficial for company to expand its business in India or not. In
case the cost will be much higher than the benefits then it will be affecting the working
efficiency to a great extent. after this the resource planning will be undertaken in order to ensure
that what resources are present in India and what need to be brought by the company. Further the
competitor analysis is also required to be undertaken as it will help company in analysing the
existing competition within the industry in India.
2 BACKGROUND (FUNDAMENTALS)
2.1 The business development plan from an international perspective
Business plan refers to formulating the document that provides guidance & instructions
regarding the starting and managing the overall functioning (Cant, 2018). There are different

stages in the business plan which are required to be followed in respect to cover the overall
picture of influencing the performance of firm in positive manner. In the current era, competition
has increased which require firm to pay attention on assessing the significant factors that can
impact the overall functioning of business. There are several types of the aspects which are
required to be taken into consideration for having the ability to coordinate with prevailing
situation. Business plan allows the organization to get the ability to ascertain these crucial factors
in turn accomplishing the objective of managing the overall functioning in effective manner can
become possible. In order to operate in the business environment firm require to possess the
competitive edge in turn gaining success by overcoming the prevailing challenges can become
possible for firm.
International operating needs the firm to get such differentiation which can boosts its
ability to attain the organizational objectives. Business plan formulation from the international
perspective indicates that publishing in global market is not easy so having appropriate
information about the prevailing circumstances can permit firm to formulate suitable strategies
and tactics in respect to get the positive impact on firm. International functioning provides
different types of the challenges such as language, cultural differences, managing global term,
currency exchanges, inflation rates, foreign policy, relation developing, distinct political
situation, taxation, other legal barriers, etc. Business plan allows the firm to get ability to
evaluate the micro and macro environment, marketing strategies, financial forecast, etc so that
getting strategic perspective to operate in international market can become possible effectively.
On the basis of this, it can be interpreted that firm can effectively operate in international market
with help of having relevant & reliable business plan.
2.2 India 2022: General overview
India is rapidly growing and offering the different kinds of the opportunities to the
international organization to establish in the country. The particular organization operates in the
beauty and nutrition sector that is growing in India. The particular industry in India is growing at
the 4.23% approx as compared to the past years (Fauzi, 2021). This can lead the organization to
understand that there are various opportunities for operating in the industry of India as it can
permit to accomplish the objective such as higher profitability, sustainability, etc. the key reasons
for the growth and development of beauty & wellness sector of India is due to demographic
growth, improving socio- economic standards, large scale development of digital channels,

inclined awareness of nutrition, rising consumerism, globalization, changing life style of Indian
consumer, etc. These are few crucial drivers that are helping the specified industry to get the
growth and development in turn expansion practices in nation can be attained with greater
efficiency and effective.
In the year 2022, there are various key drivers that are enabling the firm to get the
opportunities to get the competitiveness which involves inclined life style related aliments,
increasing grooming awareness among men, , government support, etc. Macro factors that affect
the function of the particular sector that comprises rising population, disposal income,
urbanization, huge young base, etc These all are inclining the revenue of the rims operating in
the sector and offering growth related opportunities. On the basis of this, it can be interpreted
that specified sector can allow the firm to conduct of expansionary activity in higher effective
pattern.
2.3 HECH Company
It operates as nutrient companion in the sector by maintaining beauty, vitality and well-
being. The particular organization is one of the international firm offering the highest quality
luxury nutrition supplements across globe. For the sales and communication by paying attention
on offering the information by adopting the core values of company. The particular organization
was founded in the 1970s for promoting the physical health and well-being by formulating
nutrients and herbs. The firm has expanded its operation with coping up with the experts of
sports and health by specializing in nutrition supplement based on collagen peptides and amino
acids. In the 2000s the company move up to and coming German capital of Berlin and four letter
family names such as HECH for having the significant expansion so that attaining the growth
with brand development for offering the high quality dietary supplements specially for the
beauty industry (HECH STORY., 2022). In the year 2020 HECH team is formulated by ensuring
diverse workforce, coordination with changing requirements, etc so that productive performance
can be derived. These all are enabling the firm to get the appropriate approach to attract
customers for longer duration in turn achieving the objectives of expansion has become possible.
2.3.1 The history (20xx-20xx) and the organizational structure
The company HECH was developed in the year 1970 and after that it started growing and
now wants to expand the business in India. In the 1990s the company was closely working with
health experts in order to evaluate and develop in the field of collagen and amino acid. Further in

the year 2000 the company started working within the food retail chain as well and spread the
working of the company is improved and it expanded the working in UK, USA and Asia
(Mishra, 2018). Moreover, in 2020 the company became the in- house leader in field of nutrition
and also relating to Beauty Nutrition is being held by women and product is launched widely.
The organizational structure which is being followed by HECH is the hierarchical structure. This
has been used widely by the company because it includes the flowing of direction from top to
bottom. This flow clearly defines that which employee has to take direction from which
employee and where to report back.
2.3.2 The corporate philosophy and culture
The organization pay attention on having diverse working culture in turn meeting the
objective of gaining competitiveness. There are various roles and responsibilities in the business
which are required to be accomplished by having the significant level of skilled labor force in
turn offering the competitive advantage to meet the objective of higher quality & sustainability.
There is philosophy of promoting the innovation practices by involving the employees into
procedure so that building good brand image in the beauty and well-being industry can become
possible. There is diverse working culture where all the employee is respected, valued and
appreciated. This is promoting the positive working culture in HECH that the authentic and
sincerity based guide to employees for accomplishing the organizational objective of having
higher efficiency and effectiveness in results can be derived. Consisting in house nutritionist and
cross cultural generational are helping firm to get the ability to understand the diverse perspectiv
for formulating products in respect to cover the good market share in industry.
ENVIRONMENT AND COMPANY ANALYSIS
3.1 The company external analysis
Before entering the business in any other country it is very important for the company to
analyse its external environment. This is necessary for the reason that when HECH will
expanding its business in India then first of all they need to analyse the working pattern and
trends being followed in Indian market (Gupta and et.al., 2019). This external analysis need to be
done prior to expansion so that company can ensure that expansion will become successful and
will result in business getting profitable.
3.1.1 The macro environment

The macro environment refers to as the external environment within this the company is
operating. Hence, for HECH it is necessary for the company that they evaluate the macro
environment so that they can gather information relating to trends prevailing in Indian beauty
and nutritional industry.
3.1.1.1 Market attractiveness and potential of construction in India
The market attractiveness is being defined as the fact that whether there is any growth
opportunity for the company for future development and good expansion. This is necessary for
the reason that in case the attractiveness of market will be low then expanding the business in
such country will not be useful. India is having the second largest population within the world
and this is the most common reason for which the expansion is being done in India. In India the
CAGR for beauty and wellness industry is 18 % (India Beauty & Wellness Market - A CAGR of
18.40% Expected During the Forecast Period, 2019-2024 - ResearchAndMarkets.com, 2022).
Also, currently there is increasing trend among people on focusing on their mental and physical
health and this poses and opportunity for HECH for expanding the business in India. Also, the
market size of the beauty and wellness industry at current level is 6.5 billion and it is expected to
reach 20 billion by 2025.
Along with this, it was also analysed that the consumption pattern among the teenagers
relating to cosmetic has increased between 2005 to 2015. This increase was witnessed due to
increase in awareness relating to the look and the way people look. Also within the market it was
also seen that this segment is the fastest growing and over 68 % of the young adults are using the
beauty and wellness product to upgrade their looking.
3.1.1.1.1 Economic data and analysis
The economic data is being referred to as the quantitative data relating to the research
area. This is because of the reason that when HECH is planning to expand the business in India.
Hence, for this the economic data need to be collected relating to the beauty and wellness
industry of India. This is necessary for the reason that it helps in analysing the economic
condition and outlook of that industry and to analyse that whether the expansion will be
profitable or not (Kapoor, Singh and Misra, 2019). With the analysis the secondary sources it is
clear that the beauty and wellness industry in India is being valued as 901.07 billion in the 2018.
Also, the expected revenue for the year 2024 will be 2463.49 billion. Also, there is rise in the
income for the middle class people and this has also resulted in increase in demand of beauty and

wellness products. Also the labour force participation rate for females has increased from
21.27% to 22.05 % in the year 2017.
Also the nutraceutical sector is also growing and it is expected to grow with the rate of
18.7 % and the target are set high in order to improve the working in the next year. This is
necessary for the reason that when HECH will be entering in India then this will be providing a
better opportunity for growth as this industry is fast growing. Along with this the focus on the
collagen product is also high of HECH. In India as well this product is now becoming better and
popular. The revenue of Indian collagen market stood at 52.62 USD million and it is expected to
reach to 76.68 million by 2026.
3.1.1.1.2 The market accessibility factors
The accessibility of the market is being defined as the fact that the company is able to sell
the product and services in different countries that is across the borders. This implies that all the
countries are accessible by the other countries such that they can trade with the other countries as
well. in case the market will not be properly accessible by others then the growth opportunities
will be less and company cannot grow and develop in better and effective manner (Sriram and
et.al., 2018). Also, for the market to be accessible there are certain factors which company must
evaluate before selecting any of the new market. Hence, for this some of the factors need to be
considered by HECH before selecting India as the business expansion place. These factors
involve the following-
 The first and foremost aspect to be considered by HECH before entering India is the
resources being available within the country. This is necessary for the reason that in case
the resources are not available properly and in large number then this will be affecting the
working efficiency of the country.
 Along with this another factor for assessing the market is the ways through which the
company can enter into the new country. There are many different methods through
which the company can enter into any new country. This include different methods like
FID, joint venture, merger and acquisition and others (Kampani and Jhamb, 2021). In
case any of the one method will not be appropriate then this will be affecting the working
efficiency of the company and expansion in any new country can be difficult.
 Moreover, another method which can be used by HECH for analysing the accessibility of
the market is the way of communication which is being undertaken. This is necessary for

the reason that in case the communication between the countries will not be good then
this will be affecting the expansion to a great extent (Khan and et.al., 2019). in case the
communication with the other country will not be good then this will be affecting the
working efficiency to a great extent. this is because of the reason that in case
communication will not be good then this will be affecting the trade relation between
both the countries.
3.1.1.1.3 The geography- geographical/ demographic
Before entering in any other country it is very necessary that proper analysis of the
demographic and the other related aspect of the country is being analysed. This is necessary for
the reason that when the country demographic will not be analysed prior then this will be
affecting the business expansion. This is pertaining to the fact that when the demographic
analysis will not be done then this will be affecting the expansion of the business and this will be
improving the working efficiency. India is the second most populated country within the world
and also as per the revision of World Population was 1352642280.
India is having more than 50 % of the population is below the age of 25 and more than 65
% is below the age of 35. Also, on the basis of the geographic location, India is occupying the
2.41 % of the world land area and also it supports the 18 % of the world population. Also, with
the help of the 2001 census 72.2 % of the population was living within 638000 villages
approximately and the remaining of 27.8 % was living in more than the 5100 towns and out of
which 380 were urban agglomerations. Also, the country is having the different types of the
religions as well which are prevailing within the country. These involves Hinduism, Islam,
Christianity, Buddhism, Jainism and many other different types of the religion.
3.1.1.2 Socio economic
The socio economic factors involves the changes within the social and the economic
aspect with respect to the country and it need to be improved in better and effective manner. This
is necessary for the reason that in case the socio- economic aspect will not be followed by HECH
then this will be affecting the working efficiency of the business. This is necessary for the reason
that in case the working of the economy will not be good then this will be affecting the
profitability of the company to a great extent (Salins, Mendon and Aithal, 2019). Hence, for
HECH it is very important for the company that they must evaluate the working of the economy
and the social aspect in better and effective manner before entering into another company. this is

important for HECH for improving the working efficiency and better entering into India. This
involves the different types of aspect like occupational, educational, global poverty, education
and health and many other different types of factors before entering into India. The socio-
economic factors are important to be analysed by HECH. For instance, in case India is having
high poverty then the business expansion will be of no use as more people will not be buying the
product and services of the company. this is necessary for the reason that when people will not
be having good income then they will not be in position to buy the product and services being
provided by HECH.
3.1.1.2.1 Economic and stability factors
Before entering into India, it is very important for HECH in order to evaluate the
economic and other stability factors as well. This is necessary for the reason that when the
economic aspect and other related factors will not be analysed then this will be affecting the
working and expansion to a great extent. The most important stability factor within India is that
the country is a developing economy and there are many different benefits of entering into the
beauty and wellness industry for HECH. This is also very necessary because when the economy
is developing then this affects the working efficiency of HECH to a great extent. the most
important economic benefit is that the labour and other resources are being present at cheap rates
and this affects the working efficiency to a great extent. This is because when HECH will have to
pay less for the resources which is higher in other countries. This is necessary because it will
save the money of company and this can be used in some other place and for the development of
the business.
Along with this another stability factor involves the finance as this is provided at the
cheap interest rates as compared to other countries. This is the major point of attraction for
HECH in order to improve the working and expansion as compared to other countries. The
reason underlying this fact is that when the finance will be available to the country at lower rates
than it will be beneficial for company as they will get more finance and will have to pay less
interest (The 'Ever Glowing' Beauty & Personal Care Market Set for an Exponential Growth,
2022). Hence, on this basis of this it can be stated that on the grounds of economic aspect and
other stability factors India is a beneficial country for the expansion of the business. This is
necessary for the reason that when the economic aspect will be more then this will be improving
the expansion of the business.

In addition to this another economic aspect is that here the unemployment is more and
because of this reason that cheap labour can be found. This is another economic benefit which
HECH can found after expanding the business. this is because of the reason that cheap labour
can be found in better and effective manner. Hence, this will be beneficial for HECH as they will
be getting more and more people for work and company will have to pay less relatively
compared to other countries.
Moreover, with this another stability factor for which expansion in India will be
beneficial for HECH is the easy access to the transportation. This is necessary because in case
the transportation will not be easy accessible then it can affect the working and transition of
product and services of HECH. Ultimately this will be affecting the working efficiency of HECH
while expanding the working in India (Vijaya, 2019). Thus, with this it can be stated that there
are many different types of the benefits which outlines the fact that on the basis of economic
factors India is a good place for the expansion. Also, in case the expansion will be implemented
then this will be providing a stable growth to HECH.
3.1.1.2.2 Political and legal environment
In India, there are various factors that influences the functioning of the company so it is
important for the organization to get the insights regarding the different factors that can impact
both positively and negatively. India is the democratic country that largely focuses on having the
proper rights to people to choose their liking and disliking according to their comfort ability
which can allow the specified organization to get the reliable ability to operate in country. There
are various parties sin the company that are making the political environment in the nation. The
prevailing ruling party in India promotes the foreign company to operate in the country so that
various opportunities such as higher employment, greater economic development, etc. can be
derived. There are certain government rules, policies, current framework and positive attitude of
people that promotes the smooth processing of companies.
There are different types of the legal compliance which are required to be made by the
company in order to get the ability to coordinate with successful operation. For offering the
nutritional supplements company require falling under the supplement category where content
must not be less than 15% of the RDA (Legal Requirements Mandatory for Setting Up Cosmetic
Business in India, 2022). There must be focus provided on having the appropriate information
regarding that quantity of nutrients must not be exceeded national RDAs and having focus on

having the legal requirement of involving the insights about the ingredients on labeling. There
should be importer license and under the rule 21 of drugs & cosmetic rule, etc. in addition to this,
having proper registration so that authorization can be obtained by the specified organization.
There should be focused on adhering to the amendment of rule 129 of drugs and cosmetic so that
proper ability to avoid the rise of irrelevant aspects can be done. There is presence of central
drugs standard control organization (CDSCO) which play role of providing licensing so that
reliable coordination with the rules for cleansing, beautifying, promoting, etc. customer can
become possible. There should be PAN & TAN, professional tax registering, trade license,
compliance with labor law, consumer protection act, employment legislation, etc.
Drug Controller General India functions play one of the important role in ensuring that
successful and fair practicing by the company coming in country is conducting. FDA regulates
under FD&C act which can permit in accomplishing the objective of having successful
practicing in turn accomplishing the objective of higher profitability & sustainability can be
obtained. In order to get the good political and legal environment by the mentioned organization
firm require to focus on adhering all the specified acts in turn getting positive response from the
customers, government agencies, etc. can be obtained. There is requirement of having proper
marketing practices by having fair pricing declaration, full disclosure of information, etc. so that
proper clarity & transparency about its benefits can be provided to related law.
3.1.1.2.3 Cultural environment
India is one of the country that comprises the number of religions which made it the religious
country. Each type of culture has various festivals and number of beliefs & norms that are
followed in India and respected by other people. In order to offer the different kinds of products
it is important for the mentioned organization to pay attention on assessing the taste &
preferences of people. The main reason behind this is that distinct form of perception and attitude
is possessed which decides the purchasing decision of customers in India (Mazumdar, 2019). In
addition to this, each type of the culture is having the different languages which are needed to be
understood in turn attaining the significant practice sin marketing area so that greater market
share can be covered.
In the offering of its products by the specified firm, there should be provided on having
the proper evaluation of the targeted areas so that their preferences can be understood by giving
emphasis on cultural aspects. In order to get acceptance in the society there is higher level of

focus is provided by the consumer on having effective adoption of those products that are not
judged or criticized in Indian communities. For complying with all these cultural factors, beliefs,
attitude, ideologies, values, etc. consumer highly focuses on adopting the suitable beauty &
nutrition products. In the current era, there is culture of health conscious in India which can aid
the firm to boost its sales regarding its nutrients possessing goods. Culture is highly taken into
the consideration by the Indian people in turn attaining their objective via offering the reliable
kind of beauty and cosmetic products. There are various aspects such as ensuring employees are
behaving accurately, etc. in turn attaining this information is crucial for applying suitable
strategies to attract & retain customers for longer duration can become possible. In India,
focusing on this aspects can provide assistance in achieving the reliable results as it is crucial
factor influencing success of firm in country.
3.1.1.2.4 The role of social media, advertising (and promotion) in India
Social media is highly taken into the consideration in India by the all the age group in
order to incline their socialization practices. It is considered to be one of the crucial technique of
marketing & promoting the products in India as have higher influence in the decision-making
procedure of customers. This is highly admired platform for communicating with customers in
turn greater attention in respect to have higher conversion rate. Social media marketing in the
current era of India can help the particular enterprise to get the insights regarding the prevailing
demand in market so that accomplishing the organizational objective of offering corrective &
suitable goods to customer can become possible. Marketing via using this channel is helpful in
receiving the distinct advantage such as increased brand activity, generating online traffic,
positive & inclined conversion rate, inclined brand loyalty, getting ease in influencing buyers,
assessing competition prevailing market, etc (10 Advantages of Social Media Marketing for
Your Business in India , 2022).
The social media marketing practicing can help the particular firm to get the details' a
bout the bounce rate and negative feedback in respect to improve the overall performance in turn
gaining the leading position in market can become possible. The particular form of the marketing
& promotion technique can provide the assistance in achieving the cost effective tool so that
greater emphasis on understanding needs, problems, suggestions of customers, etc can be
identified to get the accurate results. With help of this technique of the marketing the particular
organization will become able to get the effective response from the customers by easily

spreading awareness among the buyers. In the targeted market, there is number of national and
international companies that are operating in the beauty and wellness sector which is giving cut-
throat competition to the specified organization. In order to overcome the competition,
promotion of the products with help of advertising via social media marketing approach easiness
and effectiveness can be maintained to gain greater amount of the profitability. Mouth publicity
with usage of social media marketing India can be easily enhanced so that attaining goal of
economies of scale can be derived.

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India Beauty & Wellness Market - A CAGR of 18.40% Expected During the Forecast Period,
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https://www.businesswire.com/news/home/20200221005355/en/India-Beauty-Wellness-
Market---A-CAGR-of-18.40-Expected-During-the-Forecast-Period-2019-2024---
ResearchAndMarkets.com#:~:text=The%20beauty%20and%20wellness%20market,during
%20the%202019%2D2024%20period.>
The 'Ever Glowing' Beauty & Personal Care Market Set For An Exponential Growth. 2022.
[Online]. Available through: < https://www.indianretailer.com/article/sector-watch/beauty-
and-wellness/The-Ever-Glowing-Beauty-Personal-Care-Market-Set-For-An-Exponential-
Growth.a5874/ >
Legal Requirements Mandatory For Setting Up Cosmetic Business In India. 2022. [online].
Available through: <https://www.lexology.com/library/detail.aspx?g=978da843-0882-
499f-bcdf-89c00727929c>
10 Advantages of Social Media Marketing for Your Business in India . 2022. [online]. Available
through: <https://www.bluefountainmedia.com/blog/advantages-of-social-media-
marketing>