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Study on Business Plan of Flavorite Ice

   

Added on  2020-04-15

16 Pages3893 Words230 Views
Running head: BUSINESS PLANBusiness PlanBased on Flavorite Ice Cream Student’s name:Name of the University:Author’s note:

1BUSINESS PLANExecutive Summary In this study, the main focus will be on the business plan of the organisation Flavorite Foods,which operates in the Trinidad and Tobago and sells ice cream. The organisation is planning toenter the soft drink industry to sell the fruit juices, flavored drink and carbonated drink to thecustomers in Trinidad and Tobago. In this study, the description of the company has been givenin the first part highlighting the mission statement. This business plan has been made based onthe secondary data findings. In the following paragraph, the industry evolution has beenfocused on the industry size, competition and nature. In the industry, the soft drinkmanufacturers are many and Favored Foods need to take the strategy of promotions in order toattract the customers. In the market analysis section, the marketing of Favored Foods has beendiscussed. Financial projection and market share development has been given. In the operationmanagement discussion, the operation strategy and recruiting new employees have beendiscussed. In the recommendation section, the lower pricing strategy, supply chaindevelopment and improved in quality control process has been suggested. Table of Content

2BUSINESS PLAN1. Introduction.................................................................................................................................42. Company description...................................................................................................................43. Industry analysis..........................................................................................................................54. Market analysis:...........................................................................................................................75. Marketing plan...........................................................................................................................106. Operations plan.........................................................................................................................117. Recommendations.....................................................................................................................138. Conclusion..................................................................................................................................14Reference List................................................................................................................................15

3BUSINESS PLAN1. Introduction A business plan is the written document of a business's future. A business plan is thedescription of how a business will forward in the future. In order to start a new venture or newbusiness plan, a document is needed to jot down the ideas of business. In this study, FlavoriteFoods organisation has been chosen to expand the business in another direction in Trinidad andTobago. In the first part of the study, the company description has been given with details. Inthe latter part of the study, industry analysis, market analysis and operational management ofthe business have been described in light of starting a new section of the organisation. 2. Company description Flavorite Foods Limited was established in the year 1970 in anticipation of a need forthe quality frozen desserts of international standards with true Caribbean identity. The initialbrand name of the organisation SnoJoy, however, the new name with Flavorite, using the heartin the middle of the name used to enhance the image of the organisation. In the year 1970Vernon Charles started this business to manufacture and distribute the chocolates, ice cream,candies and dairy products in conjunctions with Beatrice Foods, a large US company(Flavoritefoodstt.com, 2017) From the beginning of the company, the main motto of the firmwas to give the international standard products to the customers focusing on innovation as wellas the ‘take-home’ services. Headquarter of the business is in San Juan in Trinidad and Tobago.Mission Statement Flavorite Foods wants to provide quality products and excellent services that would besynonymous with consistent innovation (Flavoritefoodstt.com, 2017). Describe company productsFlavorite Foods manufactures Ice Cream mainly in different types, golden vanilla, whitevanilla, chocolate chip, peanut, coconut, strawberry, maple almond and pistachio. In addition,Flavorite Ice Cream makes various unique types of products like Premium Ice Cream, Deluxe Ice

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