Soya bean Oil

Executive summary:
I’m working on introducing a new product for a new market. The method continues with the
processing of proposals, screening of ideas, company research, product creation, marketing
experiments and finishes at 4Ps. The new segment is aimed at families, especially those who like
soybean food and do not very often go to I am outlets. I am items are often short-lived or hard to
store after sale. Products are usually eaten immediately after they are sold. Sales are therefore
limited. For one occasion the customers wouldn't buy much. And the goods are not domestically
available. Unless I am outlets pass the customers, the goods are not available. The new category
will take the time to absorb me am goods for customers. It is clear that it would boost the sales of
I am. However, the sales of existing goods will be influenced by new products in this market.
Any customers may not purchase I am goods while going through the outlets. It may be that they
already ate or would eat any of Mr. Bean's related items at home. The impact would be marginal
considering the staggering position and consumption time. In total, I am revenues are anticipated
to rise dramatically in the new market.
Contents
Executive summary:....................................................................................................................................1
New product development:..........................................................................................................................3
Utilization of skills:.....................................................................................................................................3
Utilization of Local Materials:.....................................................................................................................4
Curd of dry bean......................................................................................................................................4
Soya bean:...............................................................................................................................................4
Pan packing with vacuum........................................................................................................................4
Cookie for Mascot...................................................................................................................................4
Ice Creek Boxed......................................................................................................................................4
Vacuum-packed pancake.........................................................................................................................5
Boxed ice cream......................................................................................................................................5
Demand of the Product:...............................................................................................................................5
Solution to current problem:........................................................................................................................6
Conclusion:.................................................................................................................................................6
References:..................................................................................................................................................7
New product development:
Internal and external surveys were carried out to produce new product concepts. I am team and
consumers developed the concepts. These are as follows:

 Soy milk power: soy milk instantly.

 Curd: typical dried bean curd and bag. Dried bean curd.
 Soja bean: use a soy milk manufacturer complementary branding. And the key content is
to market soybean.
 Pan packing with vacuum: the food can be preserved at home with a packaging fresh
flavour.
 Cookie Mascot: cookies of I am mascot in various shapes.
 Soy milk bagged oatmeal: a mix of the power of soy milk and dehydrated oatmeal.
 Bun stuffed frozen steam: a common, common recipe.
 Ice cream boxed: different from what I am already serves.

Utilization of skills:
As an International professionals, in corporate growth I recognize the value for consumer
viability to measure future benefits against potential risks. I can then use this expertise to assess
whether an idea strengthens the basics and suits the strategic path of a business that is vital to a
foreign trading effort or its growth. As an international business strategy expert, I need to be able
to develop and help in the execution of a comprehensive international business strategy. I am in
this key position will understand and establish plans for handling any threats found in the
strategy. After the process of the concept creation, certain internal requirements such as
continuity of the positioning of the business of the new product ideas.

 Soy milk power: soy milk power processing is a dynamic operation. And big equipment
is required. Now, I am can't make it. Rejected.
 Curd: dried curd can easily be manufactured using basic tools. Dried curd. Accepted.
 Soya bean: Marketing soybean directly requires a low cost. No production is essential.
Accepted.
 Pancake packaged as vacuum: the new pancake flavour is very similar to those already
available. Equipment is low-cost and easy. Accepted
 Mascot Cookie: The method of development is clear. And cookie tools are readily
available. Accepted...
 Bagged soy milk oatmeal: a food focused on the strength of soy milk. I am cannot
generate his own rejected soy milk strength.
 Bun frozen steam: not food related to soya bean. Incompatible with the positioning of the
organisation. Rejected.
 Ice cream boxed: new gear required. New gear. It's small and inexpensive, though.
Utilization of Local Materials:
Following the optimal screening, several external variables explored the remaining 5 proposals.
In the market analysis process, expense, revenue and profitability must be considered.

Curd of dry bean

Cost: Soya bean is the main ingredient. And it only takes basic resources. The cost is expected to
be minimal.

Sales: It's a traditional, long-standing food with strong demands. The brand will help to achieve
substantial revenue as a soy bean product company.

Profitability: Large low-cost sales make it extremely lucrative.

Soya bean:
Cost: There are only such packing costs.

Sales: Many Singaporeans do not want to cook at home, so there will be low demand. Sales can
be disappointing, because it's a convenience commodity.

Even cost is minimal and profits can also be low. Profitability: Not profitable. This is not
profitable.

Pan packing with vacuum

Price: The cost of a new taste vacuum-packed pancake is very close to that of previous ones;
only additional packing fees are required.

Sales: The fact that the new pancake will store at home is projected to greatly boost both demand
and sales.

Returns: Net margin of benefit should be very close to pancake. With strong revenue, profit
should be high.

Cookie for Mascot

Cost: The use of basic tools makes cookies fast. Often inexpensive is raw materials. The cost
would be minimal.

Sales: Most of the lovers of mascot cookies are girls. The market is limited by this constraint. It
could be poor revenue.

Profits: Due to poor revenue, the benefit cannot be satisfactory.

Ice Creek Boxed

Cost: The process and the ingredients vary from current ice cream, but prices are very similar,
they are both minimal.
Sales: The climate in Singapore boosts ice cream production. It is estimated that revenue will
double.

Profitability: Good profit can be achieved by high revenue and low expense.

The outcome is as follows, based on profitability:

The food is sliced into small squares and tastes light. Choose the initial flavour as the first
product of this product line. As the wrapping material, pick plastic. Any of the box should be
hyaline, enabling the user to see inside the dried bean curd. A weight of 150 grimes per package
is determined. So one pack can be consumed by customers. The flavour should be reflected on
the bottle.

Vacuum-packed pancake
The new pancake flavour was built to taste jam. The existing models have maintained the soft
feel. The space within the box should be set to reduce the weight on the product. It will then have
a nice look. Use plastic as the material like many other vacuum kits. To display the taste, use a
particular hue. Customer actions can suit a single package.

Boxed ice cream

Boxed ice cream varies from the current soft serving of I am. The new formulation is very hard
and has a low storage temperature. It is best suited to carriage and transportation. The scent of
strawberry is a familiar flavour used by my other rivals and is very appropriate for a new
product. Pick paper as the material for packaging. And the packet should be flavoured to embody
the taste. Net contents are 1L, a typical business quantity. The label should stress the new
feature: it is kept at home.

Demand of the Product:

Test Marketing is to attempt to deduce the response from a small regional test with a full-scale
start. The outcome will not be confident (McDonald & Christopher 2003, p.180). Choosing an
ideal area will thereby maximise the test result's reliability.

Singapore is a small nation. This will lead to improving the accuracy of research. And accessible
public transport allows mass movement very productive, in particular at MRT stations and bus
exchange hubs. The collection of the outlets to initiate the prototypes in these locations will
provide relative accurate results. The outlet is an outstanding location for the test in Toa Payoh
Centre.

In their buying actions, price is one of the factors. The prices of the three goods then relied on
the variable costs. And 30% of the variable expense was the contribution margin defined. The
sales prices are then as follows:

 Curds of dried beans: 0.9 SD per bag

  Packing vacuum: 1.2 SD per bag packing.
 Ice cream boxed: 4 SD for each box

At the same time, a survey was conducted with customers who bought the new product.
Customers choose their new product favourite.

Solution to current problem:

The pricing solutions can be one of the main tools to tackle the barriers in entrance to the market.
Pricing targets may be categorised as lucrative, sales-based and status quo priorities. The status
quo price targets are the best choice for the boxed ice cream. Firstly, the commodity product
must be competitive in price. Second, in a different market, this is a new product line. And at the
introductory level it is even. The primary challenge is to survive. The pricing plan should also
follow the costs of competition.

Conclusion:
The food, packaged ice cream, came into the market after several screenings and well prepared.
But it also awaits consumer inspection whether it is a good new product or not. Boxed ice cream,
the latest commodity, should not be limited to the current channel approach. The new features
allow third parts to be offered. However the boxed ice cream was determined to proceed with the
current channel approach by taking the stage of the product life and the company's capacities into
account. I am has handled his skills as a new commodity in the initial stage at a low cost.
References:
1. Rauschnabel, P. A. (2021). Augmented reality is eating the real-world! The substitution
of physical products by holograms. International Journal of Information
Management, 57, 102279.
2. Atassi, M. (2021). How Will Empathetic Design Thinking Influence Food Experience
Innovation? A Practitioner Perspective on Food Well-Being. In Design Thinking for
Food Well-Being (pp. 71-80). Springer, Cham.
3. Hofstetter, R., Dahl, D. W., Aryobsei, S., & Herrmann, A. (2021). Constraining Ideas:
How Seeing Ideas of Others Harms Creativity in Open Innovation. Journal of Marketing
Research, 58(1), 95-114.