Market Analysis of "The Sugarcane Juice"

Ankita Sharma

Westcliff University

BUS 557: Applied Capstone Method

 Professor: Rabindra Silwal

March 13, 2022

When running a business, making assumptions about consumers, the marketplace, competitors,

or processes can result in a waste of time, money, and effort. We would have to invest some of

our resources in market and marketing research to make good judgments that would help my

organization expand and handle its resources effectively. Market research incorporates

identifying a specific "target" and focusing on a single category. It entails conducting knowledge

on a specific group of clients to better understand their attitudes and desires. It provides concrete

evidence that may be utilized to influence a company's sales strategies, making advertising more

efficient and effective. We can't run a business without appropriate market research, which is

why I created "The Sugarcane Juice." This paper will also explore some of the unique aspects of

my juice business, such as the target market, consumer profile, current juice industry trends, and

competitive rivalry. The paper is created with the help of the internet resource LIRN as well as

other internet sources.

Keywords: “Targeted Customers, Customer behavior and profile, Profit, Competitors, and

Industry Descriptions etc”.

Nepal is a country with a staggering amount of diversity, which can be seen in almost

every aspect of life. Individuals regularly perceive variations around the country, based on

topography, culture, history, and tradition, because the country is so different in many respects.

Regarding terms of Nepalese people's health-related activities, we can say that sugarcane juice is

both nutritious and tasty. Fruit juice is available in some flavors, colors, raw materials, flavors,

and packaging options. As a result, a person can pick one or two of their preferred flavors. It is

an important part of many people's healthy diets and is well-liked by all. Sugarcane juice is

simple to make and can be stored for a few days if made using high-quality components. Due to

the simplicity of doing business and the requirement, there has also been a growth in the fruit

juice sector.

Similarly, sugarcane juice plans to offer customers in a variety of ways, including snacks.

In a typical processing technique, sugarcane juice will also help to preserve the organic taste and

keep the ingredients fresher for longer. Furthermore, sugarcane juice will assist in the resolution

of a variety of market sector issues, from someone who can afford premium juice products to

those who desire fresh taste and flavor. I hope it will also assist people in regulating their

digestions, keeping them hydrated, and providing every vitamin and antioxidant resource

available. As a result, my business idea is to sell organic and fresh sugarcane juice in a variety of

flavors and tastes.

In the Nepalese market, there are several products of fruit juice available, however, most

of them are [prepared using artificial fruit powder sugar and color. The majority of them are

made with technology, which ensures a consistent taste and reduces the value of the juice's taste

and flavor due to the artificial flavor utilized. Excessive use of sugar in juice processing

procedures will decrease the fruit's unique taste, flavor, and all of the valuable vitamins and

minerals, which is harmful to health.

In contrast to the regular canned fruit juice found in the market, the local sugarcane juice

is made completely processed in a neat and clean environment using traditional machine tools

and equipment. Similarly adding value to the product, the local sugarcane juice will be

processed in front of the customer which can enable to gain customer satisfaction. Likewise, it

will be made using different flavors like mint, lemon, salt, and others. In every part of Nepal, it

will be supplied via grocery markets, supermarkets, and so on. In Nepal, we have noticed that

sugarcane juice cannot be found in many stores, so we are planning to provide the juice in

canned or bottles that can be easily stored for some days. It will be easy for busy people as they

might not go to the fruit shop daily. Apart from that, following the Coronavirus outbreaks,

individuals are putting their health first. They recognized the importance of health over wealth.

People are hesitant to use the juice that is made from fruit powder and sugar and has been stored

for an extended period. As a result of the aforementioned characteristics, we can say that our

product is distinct from others.

If we looked into the sugarcane market globally, in 2021, the worldwide sugar market

was valued at 185 million tons. According to IMARC Group, the market would reach 206.6

million tons by 2027, with a CAGR of 1.8 percent from 2022 to 2027. According to Mu’adzah &

Immawan (2021), “The global Sugar Cane Juice market size is anticipated to be worth USD

million in 2021 due to the COVID-19 pandemic, and is forecast to increase to USD million by

2028 with a CAGR of percent over the forecast period 2022-2028”. We will attempt to raise

information about the health benefits and nutritional qualities of our

organic sugarcane juice based on our product market.

As sugarcane juice is high in antioxidants and boosts energy, our product will frequently

include flavors such as mint, cinnamon, dark salt, and other basic and rare healthy spices that

will benefit human health. Because of its qualities, the juice had to be stored in a bottle, jar, or

can. Therefore, for individuals who prefer fresh juice, we can give juice that has been

produced within a day or previously. Organic and fresh sugarcane juice has more health benefits

than other non-seasonal juices since it is abundant in vitamins like Vitamin C and is a strong

source of antioxidants. They also include probiotic bacteria that aid digestion. Furthermore,

because organic sugarcane juice is low in calories, it is beneficial to people who have high blood

pressure or other cardiovascular issues. Since our products would be organic, they will have their

market worth.
 Targeted Market

Sugarcane juice is popular and nutritious if made locally, but the sugarcane juice industry

is more than just processing the juice. We must also consider who we want to serve our product

to. It's also crucial to have a general concept of what kind of juice we're processing and who our

potential customers are (Adžić, 2011). Since then, the global sugarcane market has expanded its

reach to include a diverse range of customers. The local sugarcane juice sector, on the other

hand, will mostly sell to locals and supermarkets.

Whenever it comes to nutritional products, even middle-class consumers prioritize

quality over price. Ever since the quality of real juice, the market leader, has been questioned by

numerous disputes, a quality product can simply penetrate this market. Sugarcane juice is

favored for immediate consumption, with the storage and commercialization of the juice

remaining unaffected. Individuals in the KTM valley go to the fruit shop to enjoy sugarcane

juice, which includes patients, especially those with jaundice.

We can show our targeted consumers in the following ways using tabular data.

Targeted Customers

Demographics  Middle & Lower class people especially

 People of 15 to 40 age group

 All patients except diabetics

Geographic  Every city's subway system is within reach of supermarkets and

grocery stores.

 Locality and most visitors on the tourist are of dang district

Customer profiling is a process of categorizing consumers into a set of standards that

demonstrates their relationship. A client profile can be addressed in terms of demographics,

geography, and interests. Likewise, their behavior of consumers, payment history, and other

psychographic behaviors play a significant role.

For the firm to identify and determine the targeted markets and estimate their

requirements, a customer profile is necessary (Zuhaira, 2020). The following are the client

profiles for the local sugarcane juice:

Core Customer Descriptions

The top or premium level Consumers prefer to try different tastes and flavors and are

suffering from heart illnesses or dehydration.

Personalized or Convenient  Customers who buy based on their needs as well as for the

aim of experimentation

Least privilege Customers  A person who has a poor income ratio and lives below the

poverty line.

Only by understanding the customer profile, we can comprehend the true market

environment for our product. Such actions support the production and manufacture of our

products in such a way that all of our targeted consumers may readily utilize and access them. 
 Customer Needs

Every customer wants the goods because they want to get some special benefit from it,

whether it's functional or emotional. These requirements are divided into four categories based

on the customer's price range, quality, accessibility, and preference.

From basic to premium, local sugarcane juice is classified depending on the amount,

taste, flavor, and container style. Customers in the basic and low-income groups will benefit

from this pricing range since it will enable them to purchase their basic package, which contains

the preferred packs. Likewise, for high-income and quality-conscious customers, customized and

packaged sugarcane juice in a glass jar will be preferred. The main motivation for offering

different packages based on size and pricing is to provide consumers with compassionate service.

Consumers can also save effort by purchasing sugarcane juice rather than producing their energy

drinks, as current consumers prefer to buy fresh products.

Trends

Business and life in the post-pandemic future are very different than they were before the

coronavirus pandemic impacted the crisis. COVID-19 has caused physiological and mental

difficulties in humans, but it has also influenced our society's health-oriented patterns of

behavior (Meyer & Crane). People care more about their health than their income. People are

switching to organic products from artificially created items as a result of the post-pandemic

health concerns, which comprises taste, flavor, and even processing mechanisms (Aleem &

Ramteke, 2017).
 Sugarcane juice is a great source of vitamins, minerals, energy, and antioxidant

nourishment that is useful to people of all ages, starting at the age of five. Sugarcane juice is a

fantastic source of nourishment for persons who are suffering from digestive issues or

dehydration. Patients with heart problems and jaundice can also benefit from juice in one way or

another. According to one local supplier, students between the ages of 25 and 35 are the most

likely to consume sugarcane juice.

The primary reason for it was as students require energy drinks to enhance their mind and

body for work and study, and this was done according to their taste, requirement, and

preferences. Likewise, individuals have a lot of work to accomplish at home, and making fruit

juice and energy drinks at home takes up a lot of time and resources, so offering packaged or

fresh juice to aid with their hectic schedules could be a good business concept.

Potential Competitors

The potential competitors might include companies that provide similar business products

or services and cater to similar types of customers. In Nepal, some fruit juice brand industries are

doing exceptionally well in the current market. For example, real juice, frooti, and so forth. Each

of these brands has its distinct flavor and variety. The usage of raw materials is, nevertheless, a

common trait of all of these juices. They use either fruit powder or sugar. There are no additional

types, but in contrast, the local sugarcane juice is focusing on new raw ingredients, organic

flavor, and fresh variety.

a new processing method. As with our customary ways, we used machinery in the processing

mechanism. We will use one of the top grocery stores in the rapidly expanding subway system to

give service to every person in the country's cities and rural areas. Likewise, in keeping with the

trend of technological advancement, we offer our services in collaboration with several grocery

stores and supermarkets, such as Bhatbhateni, Bigmart, and others.

We are distinct in these aspects, and I believe that soon, our potential competitors will be

able to recreate our business module to get a competitive advantage. As a result, my primary goal

will be to do an in-depth market analysis on new flavors, raw materials, and new service

innovations to change it beyond our wildest imagination.

Sugarcane juice is favored for immediate consumption, with the storage and

commercialization of the juice remaining unaffected. If we want to gain a competitive advantage

and be a better business, we must have a thorough awareness of the rapidly evolving industry

and be able to capitalize on the need for new market trends. We also have to preserve customer

information for a range of factors, such as purchase behavior, how frequently they buy the

product, which flavor they liked the most, and so forth. 

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Adžić, V. (2011). New Products in the Serbian Market With Special Emphasis on Fruit

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Aleem, S., & Ramteke, P. W. (2017). Sensory and Nutritional study of locally available fresh

and processed Fruit and Vegetable juices in Allahabad City. The Pharma Innovation,

380-386.

Meyer, M. H., & Crane, F. G. (n.d.). New Venture Creation: An innovator's Guide to

Entrepreneurship. SAGE , 28-30.

Mu’adzah, & Immawan, T. (2021). Business process improvement in brown sugar industry in

Kudus regency. Journal of Physics: Conference Series, DOI:10.1088/1742-

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Zuhaira, B. (2020). Firm Process Modeling, Application, Evaluation and Management: Business

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