Dried Fruit Flacks

1. Introduction:

In this section of my report I will introduce a new product in the Omani market which is dried fruit flacks. this product is 100% healthy, Omani product and it packaged in a way that keeps it fresh and usable more time than fruit in nature. Nowadays , people become more concern about their health so they become more careful in choosing products that do not have effects on their health. in order to keep this aspect in mind, the flacks are additive free, preservative free and made with fruits harvested from Omani farms. that brings all the taste and benefit of fruit consumption. However, The main innovation in this product is that it is flacks not a whole fruit to make it easy to chew and they are packaged in an easy to carry way like the way of packaging the potato chips, so consumers will be able to enjoy the product everywhere and anytime easily. The starting of this product will be with four of the most famous Omani fruits which are mango, banana, apricot and figs.

2. Market Analysis

2.1 Micro environment (SWOT Analysis)

-Strength: dried fruit flacks is a unique product in the Omani market and it is not offered by any other existing companies in Oman. Also, this product is 100% from Omani natural ingredients, so it is a healthy option.

-Weakness: There is no enough awareness about the product because it is a new product. Moreover, the fruits are seasonal, so production is likely to decrease in some seasons.

-Opportunity: People are willing to spend more money on healthier foods. also, The company can increase the number of fruits which fall under dried fruit flacks product in the future and expand globally.

-Threat: First, there is a Competition from other substitution products such as regular dried fruits and nuts. Second, the product has easy to follow recipes. Finally, there is strong Government regulation for new companies in Oman and pricing policies.

2.2 Macro environment (PESTEL Analysis)

-Economic: Oman government try to expand it is economy away from oil and gas production. it encourages non-oil sectors to contribute in GDP such as agriculture and commerce. So, it’s a good opportunity to start new company for dried fruit flacks.

-Technology: In Oman, there is a continues adapting to the Recent technological developments. Moreover, new research shows that in January 2018 Oman had 2.60 million social media users, covering a total of 55 per cent of the population. So, it is a good chance for the new company to reach large number of people in Oman through social media for advertising and selling.

-Political: Oman has a stable political environment, there is no political problems, no conflicts and no war. So, it is a proper place for starting a new project.

-Social: in 2018, Oman population is 4,891,006, 45% of the population from Non-Omanis, So there is a big diversity of nationalities, cultures and religions. The population aged 25-54 represents the largest proportion of the population)43.8%).

-legal: there is many laws have been issued in Oman to regulate staring of new companies. for the new small companies with up to 5000 income (such as dried fruit flacks company) there is an exempted from income tax which is good for the company to grow in the first years.