Business Plan for Premium Store: Organic Product Retail Startup

This report presents a detailed business plan for the Premium Store, a new retail venture specializing in organic products. It begins with an introduction to the business, outlining its product offerings, which range from organic fruits and vegetables to snacks and beverages. The report then delves into the marketing plan, including an STP (Segmentation, Targeting, and Positioning) analysis to identify the ideal customer profile and marketing strategies. The marketing mix, encompassing product, price, place, and promotion, is discussed, along with a marketing budget and a SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis. The report also addresses competition, staffing requirements, and HR needs. A financial summary provides revenue forecasts, cost estimations, and projected profit. The conclusion emphasizes the potential of the business and the effectiveness of the marketing strategies. The report also includes a list of references.

BUSINESS

Table of Contents
INTRODUCTION…………………………………………. 3
Marketing Plan and target customer profile……………….. 3
CONCLUSION…………………………………………….. 7
REFERENCES……………………………………………... 7

INTRODUCTION
 The study is about a new business start up with a product category of organic products.
Premium store is the company which is being launched.
 The file discusses the services offered by the store company, the marketing plan for
the company, the challenges for a new start up, the competition existing in the market,
the staffing of roles and requirements of HR to recruit diligent people for the company.
 The file lists a budget which gives the estimation of costs for the company.

Business Introduction
 Premium Store is a retail store offering organic products in the form of fruit bars,
vegetables, organic snacks, organic candies, organic freeze dried fruits, organic
cookies, organic pickles etc. The business is new in retail and has taken a segment
considering changing trends in people's life with people becoming more diet-conscious.

Service offered
The services offered by Premium store are varied type of products in organic form
starting from vegetables produced through organic farming, canned organic products such
as pickles, jams, dried fruits, cookies etc.
 The services also include organic beverages instead of regular refreshments, organic
fruit juices, organic energy drinks etc.

Marketing Plan and target customer profile
Aim: To set an awareness campaign and increase revenue by 20%.
Objectives: To increase awareness about organic products in the market.
Target Market: Here is an STP analysis of the company:
 Segmentation
 It is basically subdividing customers in sub groups which have similar tastes and
characteristics.
 The market segmentation is done on these four basis geographic, demographic,
psychographic and behavioral.
 Demographic segmentation is based on factors like age, gender, income, location,
annual income, education.

Cont.
 Targeting
 It means breaking a large market for marketing in smaller segments to focus on them
and do target marketing.
 It defines a segment comprising of unique characteristics and focuses on serving them.
In this, the speaking of product is done on a defined audience.
 Here, the urban middle class is looking for products which can be included in diet to
help them cope up with a hectic lifestyle.
 Realising this need of theirs, company can channelise its marketing promotion in that
direction.

Cont.
Positioning
 This means creating a unique image of one's brand in its targeted customers which
differentiates its brand from other companies.
 It can also mean that the offers and discounts available on the brand are not accessible
on other brands in the market.
 The product can have unique features which are not available in other brands

Marketing Mix
 It is a mix of factors influencing the market promotional strategies and its analysis
helps in knowing the decision making for the business.
 It consists of 4 Ps as follows:
Product
It represents the product which company has to market.
 Premium store has to market organic product of a varied range ranging from fruit
candies, vegetables to energy drinks. It thus has a variety of diversified product categories
in organic products.

Cont.
 Price
 This factor is generally decided after ascertaining production costs and then keeping a
profit margin on them.
 However, it is necessary to do market study regarding competitor prices and also the
customer's purchasing power. It is certain that organic products will be priced higher than
daily brand products.
 But a mid-way has to be carved out which suits the market pricing trends as well as
friendly on customer pockets too.
 This will promote sales as people will buy product who is providing them the same
quantity at a lower price

Cont.
Place
 This represents the place or geography where one has to sell its products. It also
involves the distribution and supply chain the company is linked with.
 The place where the company is launching its product is currently on a rented store in
an urban area.
 However, still there can be some measures taken like the appeal of the store to be
made in a way that it attracts people.

Cont.
Promotion
It by the name suggests the promotional techniques company has to follow.
 Company has to promote its products by campaigning through various modes of
advertising like print or electronic media.
 It can also be done by conducting road shows as per the customer segment being
targeted.