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Newbasstone Business Plan
Newbasstone Business Plan
Business Plan
pg. 1
Table of Contents
Problem Statement......................................................................................................................3
Solution..........................................................................................................................................3
Business Description....................................................................................................................4
About The Product........................................................................................................................5
Mission & Vision............................................................................................................................6
SWOT Analysis...............................................................................................................................6
Strengths:...................................................................................................................................6
Weaknesses:..............................................................................................................................6
Opportunities:...........................................................................................................................7
Threats:.......................................................................................................................................7
Market Analysis.............................................................................................................................8
Herbal Supplements Market...................................................................................................8
Gut Health Supplements Market............................................................................................8
Market Trends...............................................................................................................................9
Target Market..............................................................................................................................11
Marketing Objectives.................................................................................................................12
Marketing Strategies..................................................................................................................12
Content Marketing..................................................................................................................12
Social Media Presence............................................................................................................12
Influencer Marketing..............................................................................................................13
Word of Mouth Marketing.....................................................................................................13
Events and Experiences.........................................................................................................13
Sales Channels............................................................................................................................13
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Problem Statement
Furthermore, the prevailing notion that these conditions are chronic and require
continuous management perpetuates a cycle of dependency on medication and
compromises individuals' ability to lead a fulfilling life free from the constraints
of digestive issues. The nutritional supplement industry has witnessed
significant growth in recent years, catering to the increasing demand for health
and wellness products. However, amidst this vast landscape, a pressing issue
remains largely unaddressed - the prevalence of common stomach disorders
and the subsequent impact on individuals' overall well-being.
Solution
It is within this context that Newbasstone, Inc. emerges, recognizing the urgent
need for a breakthrough solution in the nutritional supplement industry. We aim
to provide individuals suffering from common stomach disorders with a natural
and definitive remedy that eliminates the need for long-term product
consumption and offers lasting relief from their symptoms.
pg. 3
Through our dedication to extensive research and development, we strive to
disrupt the traditional approach to managing stomach disorders and empower
individuals to regain control over their digestive health. Our goal is to transform
the lives of those who have long struggled with these conditions, enabling them
to enjoy a life free from the limitations imposed by common stomach disorders.
Business Description
While Latshaw initially supported his company through his work in the
construction industry, he also supplemented his income through the sales of
preamps and DIY manuals. However, his journey took an unexpected turn when
he began experiencing digestive issues shortly after starting work in
construction at the age of 45. This prompted Latshaw to embark on a quest for a
product containing specific ingredients that could alleviate his condition. He
even attempted to create a formula himself, but one critical ingredient remained
unavailable until recently.
Several months ago, Latshaw discovered the missing ingredient and successfully
formulated a remedy that proved highly effective. After suffering from a
stomach malady for over a year, he was able to completely cure himself within 3
to 4 weeks by taking the formula twice a day. Encouraged by his personal
success, Latshaw decided to seize the opportunity and enter the nutritional
supplement industry with his herbal formula, thus expanding Newbasstone,
Inc.'s product line.
pg. 4
With the introduction of the herbal formula, Newbasstone, Inc. aims to provide
individuals with a natural solution for digestive issues and promote overall well-
being. The company is committed to delivering high-quality nutritional
supplements and plans to leverage its expertise in manufacturing and marketing
to establish a strong presence in the industry.
Priced at just $20 for a bottle of 60 capsules, the Newbasstone Inc. Gastro
Rejuvenator Formula offers an accessible and cost-effective solution to
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individuals worldwide. By providing high-quality and impactful products at an
affordable price, we aim to make a significant difference in the lives of those
who have long suffered from common stomach disorders.
Our vision is to create a world where individuals no longer suffer from the
limitations and discomfort caused by common stomach disorders. We strive to
be at the forefront of the nutritional supplement industry, setting new standards
for addressing gut health and providing innovative products that offer lasting
results. By challenging the status quo and bridging the gap in medical solutions,
we envision a future where everyone can achieve and maintain normal gut
health, leading to enhanced overall well-being and a higher quality of life.
SWOT Analysis
Strengths:
Efficacy and Cure: The Gastro Rejuvenator/Stress/Mood Formula offers a
highly effective solution for common stomach disorders, providing a
definitive cure within 3 to 6 weeks.
Herbal and Natural: The product is crafted with herbal ingredients,
ensuring a natural approach to gut health without adverse side effects.
Competitive Pricing: The affordable price of $20 per bottle makes the
product accessible to a wide range of individuals, increasing its market
competitiveness.
Founder's Expertise: Clifford W Latshaw, the founder of Newbasstone,
Inc., brings years of experience and knowledge in the nutritional
supplement industry.
pg. 6
Weaknesses:
New Market Entrant: As a relatively small company starting out in the
industry, Newbasstone, Inc. may face challenges in establishing brand
recognition and market presence.
Limited Product Range: Currently, the Gastro Rejuvenator/Stress/Mood
Formula is the company's sole product, limiting diversification
opportunities.
Opportunities:
Growing Nutritional Supplement Industry: The increasing demand for
health and wellness products presents an opportunity for Newbasstone,
Inc. to tap into a thriving market.
Rising Awareness of Gut Health: With growing awareness of the
importance of gut health, there is a favorable market environment for the
Gastro Rejuvenator/Stress/Mood Formula to meet the needs of
individuals seeking effective solutions for stomach disorders.
Expansion into Additional Products: Newbasstone, Inc. has the
opportunity to develop and introduce new products to address other
areas of gut health and expand its product range.
Threats:
Established Competitors: The nutritional supplement industry is highly
competitive, with well-established companies dominating the market.
Newbasstone, Inc. may face challenges in gaining market share and
competing against established brands.
Regulatory Compliance: Compliance with industry regulations and
certifications may pose challenges for Newbasstone, Inc., requiring
dedicated resources and expertise.
Skepticism towards Natural Remedies: Some individuals may remain
skeptical about the effectiveness of herbal products, posing a potential
barrier to market adoption.
pg. 7
Market Analysis
The global digestive health supplements market size was estimated at USD 8.67
billion in 2018 and is anticipated to expand at a CAGR of 8.8% during the
forecast period. Favorable outlook toward medical nutrition on account of rising
prevalence of digestive diseases coupled with the rising number of weight
management programs is expected to propel the growth. Growing health
awareness has resulted in increasing per capita expenditure on digestive health
supplements in the developed markets. High prevalence of digestive disorders
in Japan, U.S., and several European countries is anticipated to further fuel the
product demand.
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Factors, such as changing eating habits and increased consumption of high-
sodium foods are likely to contribute to high prevalence of gastrointestinal
disorders in the developed, as well as emerging economies. This factor is
anticipated to boost the sales of digestive health supplements in near future.
Market Trends
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2. Focus on Gut Health: Awareness of the importance of gut health has surged
in recent years. Consumers are recognizing the crucial role of a healthy gut in
overall well-being, leading to a rising demand for gut health supplements.
This trend is driven by factors such as increased stress levels, poor dietary
habits, and a desire for digestive comfort and improved immunity.
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manufacturers to prioritize rigorous testing, quality control, and compliance
with industry regulations.
8. Integration of Traditional and Modern Medicine: The herbal and gut
health supplement market is witnessing a convergence of traditional healing
practices and modern scientific approaches. Traditional herbal remedies are
being validated and integrated with scientific knowledge, creating a synergy
that appeals to consumers seeking holistic approaches to health.
These market trends highlight the evolving landscape of the herbal and gut
health supplement industry, with a shift towards natural solutions, personalized
approaches, scientific validation, and a focus on digestive well-being. Companies
operating in this market must stay attuned to these trends to effectively meet
the evolving needs and preferences of consumers.
Target Market
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being. They prefer natural solutions that align with their beliefs and values,
avoiding long-term dependency on pharmaceutical medications.
4. Consumers Looking for a Definitive Solution: Individuals who are tired of
managing symptoms and are actively searching for a product that offers a
definitive cure for their stomach disorders. They value products that address
the root cause rather than providing temporary relief, enabling them to
regain control of their digestive health.
5. Age and Gender: While common stomach disorders can affect individuals of
all ages and genders, the target market may skew towards adults, especially
those in their 30s to 60s, who are more likely to experience GERD-related
issues.
Marketing Objectives
• Increase visibility and awareness of our new dietary supplement products both
internally and within our community
• Drive internal support for the product. Administrators will continue funding it
and advocating its use.
Marketing Strategies
Content Marketing
Putting out helpful and informative content that relates to supplement
components, its benefits and current market trends towards Newbasstone, Inc
attracts website visitors. Content marketing traditionally includes blogging, but
videos and podcasts also count as useful material that leads customers to the
website. So, using brand aligned contents that define Newbasstone, Inc and our
entire business, we will attract not only customers but also the interested
potential users.
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Social Media Presence
Social media is the most important tool now a days to leverage any marketing
strategies. People try out such digestive supplements and share their
experiences, thoughts and outcomes through social media. It’s the most
convenient place to connect with the customers. So, in order to achieving the
best result with marketing, it’s mandatory to build up our social media presence.
Therefore, we will regularly maintain our social medias i.e: Facebook, Instagram,
Twitter to share our contents, customer reviews, brand personalities to connect with
our customers.
Influencer Marketing
Now that our social media platforms are established, we will grow our reach
through influencer marketing. Influencers are people in your industry,
geography, or niche demographic with large online followings. For an herbal
supplement selling company, influencers could come in all forms: food bloggers,
local leaders, news anchors, even a well-known student athlete. Being
something unique with niche market, people mostly trust when they see their
aspired people are having them. So, here in our case, it would be our most
effective marketing strategy.
pg. 13
Sales Channels
Retail Stores and Pharmacies: Forge partnerships with health food stores,
pharmacies, and retail outlets that specialize in natural and herbal products.
Distribute the Gastro Rejuvenator/Stress/Mood Formula through these physical
locations to reach customers who prefer in-person shopping experiences.
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Formula. This ensures consistent revenue and customer loyalty while simplifying
the purchasing process for customers.
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