2.0 Company Description
Just-raw Bhd was founded by Chuah Shu Wen, Lim Chia Chun, Lee Zhi Yi and Lim Boon Ee. Just-raw Bhd. is in beverage industry as it is a company selling of nutritious straw that contains fruit and vitamin supplement beads in the straw. The founders’ innovative idea about implanting vitamin into the straw came to light, when they have difficulties consuming vitamin due to the size of the vitamin is too big to swallow.
2.1 Ownership Structure
Just-raw Bhd. is a public listed company owned by 4 major shareholders which are Lim Chia Chun, Chuah Shu Wen, Lee Zhi Yi and Lim Boon Ee each with a holding of 20% common shares which means each of them hold 100,000 shares at RM10 per share. The rest of the common shares are being held by many minority shareholders. Just-raw Bhd. has been registered with the Companies Commissioner of Malaysia under the Companies Act 1965.
2.3 Product or Services Provided
Just-raw is an innovative, ground-breaking and reusable nutritious straw that embedded with beads of mixtures of vitamin together with extract of fruits without any preservatives and added sugar. The beads are being trapped inside of the straw by a special filter at both of the end of the straw. The straw works in a way that when consumers drink water, milk or other liquid through Just-raw, it turns the liquid that passed through it into delicious nutrition drink. Moreover, the beads are refillable so consumers can try the other type of vitamins at their next drinks.
2.4 Vision and Mission
2.4.1 Vision
Within the next 5 years, Just-raw innovation will help create the safe environmental magic straw to boost the new generation for a better consuming healthier delicious nutrition flavor dairy and soy drinks and will be the top leading profit distribution providing a reliable, durable and affordable for families with small children.
2.4.2 Mission
The mission statement of Just-raw: ‘To continuously strive to meet the needs of its customers for total value by offering and implementing ISO standard, unique package, provide high product quality, price, service and heath care.’
2.5 Objectives
‘ Productivity
Employee training, time management, equipment maintenance and sourcing for new technology production equipment is the key towards mass production.
‘ Profitability
Sustainability revenue to maintain high profit margin and cost controlling in production and operation for products sold.
‘ Cores Value
Company Brand is listed top notch on value for money, ISO standard award and service.
‘ Maintain Financing
Budgeting and maintain financial backup support capitalize to expand the organization in near future. Minimizing and control the allocation of the cash flow helps maintain the long term operation and looking into solving the short term of account payable and payroll flow.
2.6 Current Status
2010 – Initial concept of Just-raw was being developed.
2012 – The very first prototype of Just-raw was being produced.
2013 – The founders succeeded on their innovation and Just-raw is being proved to be technically feasible.
2014 ‘ Just-raw Bhd. was being set up with headquarter office locates in Penang.
2014 ‘ In collaboration with other large companies to expand and explore new market.
2.7 Key Partnership
‘ OscarHealth VitCare
– OscarHealth VitCare is a nutritional supplements health manufactures and suppliers company. They supply the various type of vitamins such as multivitamins, prefibre, Vit C, Calcium, Biomega and other products for health care supplement.
‘ HCI Global Trade
– HCI has more than 30 years of in-field industry experiences dealing with manufacturers, agents etc. around the world. HCI developed export and import markets and operations in over twenty countries.
4. MARKET ANALYSIS
4.1 Market Segmentation and Target Market Identified
Demographic Segmentation
Just-raw Bhd. has taken the population size in Malaysia into account and the market has been segmented based on the age group. In 2013, Malaysia’s total population is 29.94 million of which 26% of them is between the ages of 0 to 14, 68.5% are between 15 to 64 years old and the rest are senior citizens (Refer appendix). Just-raw Bhd. is primarily targeting on adults with kids and teenagers. Parents are willing to spend money as they are cognizant about their kids’ health. As far as for teenagers, they are the one who are interested to try and experience new and fun stuffs.
Geographic Segmentation
On the basis of geographical variable, we have segmented our market into 2 segments which are urban and rural areas. From year 2003 to 2010, the level of urbanization in Malaysia is growing, approximately from 34.2% to 71%. Putrajaya and Kuala Lumpur are the states with the highest level of urbanization which is 100%. Conversely, Kelantan, Pahang and Perlis are the states considered to be least developed (refer appendix). Just-raw Bhd. is planning to sell our product in every states of Malaysia. States with high level of urbanization are our main target as there are many supermarkets, hypermarkets and convenient store in those states and the willingness of citizen in urban areas to spend money for nutritional supplement is higher.
Psychographic Segmentation
With psychographic segmentation, the buyers in the market are being divided into groups based on their lifestyles. There are two types of common lifestyles which are those who live a healthy lifestyle and those who are not. Those who are health-conscious would eagerly seek out for nutritious foods and beverages and are willing to pay premium price for it. They will exercise regularly and avoid unhealthy food such as fried foods in their daily lives. On the other hand, those who are not will not actively find and consume any health benefited and nutritional products. Therefore, our company is striking to provide our product to those who desire to provide themselves with healthy lifestyle.
4.2 Buyer Behavior
In the target market, parents and teenagers who live in the urban areas and is health-conscious would want and find these few factors important for them:
– A wide variety of options available for them such as different type of vitamins, minerals and protein and flavors.
– Products with high nutritional value and are good for health. There should not be any added sugar, preservatives, artificial color and flavor.
– Products with a price that match its actual values or benefits.
– Easy to find in the market such as available in all supermarkets and convenient stores.
– Environmental-friendly product that is recyclable.
4.3 Competitor Analysis
4.3.1 Unistraw International Limited
‘ An Australia company founded by Peter Baron in 1996 that sells disposable Sippah Milk Flavoring Straw that turns plain milk into flavored milk. The Sippah Straw was launched at October 2005 and is now available in over 44 countries. It is also being sold in McDonalds at some countries as a health option. The company has won a lot of awards including Anuga Taste Innovation Showcase Award.
4.3.2 Reach Companies
‘ An US company in Bloomington, Minnesota with the company mission to get kids and adults of all age to drink milk. Got Milk?Magic Straw and Dippin’ Dots Magic Straws are the products developed and launched by Reach Companies in the year of 2005. Reach companies has won Best New Product Award 2011 and Most Innovating Product 2011.
4.3.3 Abbott Laboratories
‘ An American pharmaceuticals, medicals and nutritional products company founded by Wallace Calvin Abbott in 1888. Abbott laboratories manufactured Ensure Nutrition Shake that contains protein, vitamins and minerals in 1973.