Research About Location and Customer Base: Markets in Different Countries

Research About Location and Customer Base
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Research About Location and Customer Base
The development of a new product requires a lot of strategizing to ensure that the production does not end up to be a loss. Therefore, in the case of developing the high protein algae floor, marketing will be one of the key aspects to be put into consideration. Without a market, then the production of the algae protein is pointless. Hence this part will focus on an analysis of the available markets for the product and the competition that they are bound to face (Mehta, Singh, Saxena, Rani, Gupta, Puri and Mathur, 2018).
Markets in Different Countries
People from different parts of the world have different believes in regard to the consumption of particular protein products. For instance, the Chinese consume dog meat while in some other parts of the world it might be considered as an animal that should not be feed on. Hence, this should also be expected in the case of the algae flour since not all individuals will be willing to consume it. As well, certain markets might have plenty of protein sources hence making it difficult for them to substitute their existing products with the algae flour (Ansari, Shriwastav, Gupta, Rawat, Guldhe and Bux, 2015). The algae protein has been gaining popularity as an effective substitute for plant proteins. It is considering to have all the necessary amino acids, and hence, people might be willing to substitute it with other forms of plant proteins that they have been using. However, its substitution for animal proteins cannot be used as a determining factor for its markets in the different parts of the world.
In addition, the different markets over the world are characterized by individuals with different tests and preferences. In the case of Africa, the number of individuals that test positive for HIV is a bit higher as compared to other parts of the world, such as America. Given the fact that the African nations are part of the third world countries, then food scarcity is a common characteristic. HIV patients require good nutrition to keep their bodies functioning well. Affording such nutrition can be a challenge, and therefore, the development of affordable algae products would present a good market in such areas. The algae protein is a good source of easily digestible proteins, and hence, this could be a good option for the HIV positive patients (Fleurence, Morançais, and Dumay, 2018).
As well, the North American market is characterized by people suffering from lifestyle-related disorders such as obesity. such individuals require health products for them to be able to manage the disorders. The algae flour contains all the necessary amino acids as compared to other sources of proteins that do not contain all of the amino acids. Hence, it would be a better choice of a substitute as compared to a case whereby an individual has to mix different sources of proteins in one meal in order to obtain the necessary amino acids. As well, this would be the case in other markets such as Europe. It is expected that such parts will be a huge market for algae flour (Trivedi, Aila, Bangwal, Kaul and Garg, 2015).
The Asian market would also present a large market for algae flour. According to the Islamic culture, the consumption of meeting should happen in the case whereby the consumers are aware of its source. Therefore, this leaves plant proteins to be a perfect source of readily available proteins. This is an indication that the introduction of the algae flour would present the people with a better option of a protein that has all the necessary amino acids as compared to a case whereby they have to prepare animal proteins instead of consuming what is available. Most of the Asian nations are wealthy, and hence, the pricing of the product would not be of much consideration. What matters is that the people will have a ready source of protein, and is expected that the algae flour would make huge sales.
Future Markets
The future markets of the algae flour will be determined by its reception in the different parts of the world. This is the second phase of marketing the product. Depending on the sales made, the company will be in a position to identify the different markets that should focus on. As well, the feedback in terms of prices and quality will help in the prediction of the future's markets. In the cases whereby the people will have a positive view of the product, then it is an indication that they will be willing to consume it in the future. This would make a ready market for the product. The company should also be flexible about changing the prices to fit the different markets while ensuring that they do not operate at losses.
It is expected that the scarcity of food in various African nations will present a huge market for the product. Hence, once the market has been established, the company should consider setting up production firms in such countries to cut on the cost of exportation and fluctuating exchange rates. The creation of a stable market is one of the key aspects of the success of an organization. As well, other parts of the world that present a ready market for the product would also be a consideration in the new investment plan. In addition, a study will be done in regard to the future markets to ensure that the company develops products th...