Short answer

Designers and entrepreneurs should conduct thorough financial feasibility studies and critically evaluate all elements of the marketing mix, especially product presentation and promotional strategies, to unlock the full market potential of niche products.

Field: Innovation & Markets
Source: Jurnal Hutan Tropis (2017)
Method: Mixed-methods research, combining financial analysis with qualitative descriptive analysis.
Sample: The study focused on the 'Cinta Bahari' group, the sole producer of mangrove syrup in the area.
Evidence: Strong effect

The production of mangrove syrup presents a financially viable business opportunity with significant potential for market expansion, particularly within the Lampung province. This innovation & markets research insight is drawn from a 2017 study published in Jurnal Hutan Tropis. Using Mixed-methods research, combining financial analysis with qualitative descriptive analysis. with The study focused on the 'Cinta Bahari' group, the sole producer of mangrove syrup in the area., researchers explored how this design variable affects real-world outcomes. The key design takeaway: Designers and entrepreneurs should conduct thorough financial feasibility studies and critically evaluate all elements of the marketing mix, especially product presentation and promotional strategies, to unlock the full market potential of niche products.

Study

Innovation & MarketsHigh ImpactStrong effect

Mangrove Syrup Business: A Feasible Venture with Untapped Market Potential

The production of mangrove syrup presents a financially viable business opportunity with significant potential for market expansion, particularly within the Lampung province.

Jurnal Hutan Tropis · 2017

Key Findings

01The mangrove syrup business is financially feasible, with a profitable margin between production cost and selling price.
02Key financial indicators (NPV > 0, BCR > 1, BEP at production cost) confirm profitability and a quick return on investment.
03While pricing is effective, strategies for product, place, and promotion require improvement to enhance market reach.

Application

Design takeaway

How to apply

Before launching a new product, conduct a comprehensive financial analysis and develop a robust marketing plan that addresses product, price, place, and promotion.

Project actions

01When researching a new product, consider both how much it costs to make and how you will sell it.
02Think about how to make your product stand out and reach your target customers effectively.

Method & Evidence

AimTo assess the financial feasibility, analyze the marketing strategy, and review the development prospects of the mangrove syrup business in Margasari Village.

MethodMixed-methods research, combining financial analysis with qualitative descriptive analysis.

ProcedureConducted a financial analysis using metrics such as Cost of Goods Sold (HPP), Net Present Value (NPV), Benefit-Cost Ratio (BCR), Break-Even Point (BEP), and Payback Period (PP). Additionally, a qualitative descriptive analysis was performed on the marketing strategy (product, price, place, promotion) and development prospects.

SampleThe study focused on the 'Cinta Bahari' group, the sole producer of mangrove syrup in the area.

ContextLocal food product development and small business feasibility in a rural Indonesian village.

Variables

IVMarketing mix elements (product, price, place, promotion)

DVBusiness feasibility, market reach, development prospects

CVLocation (Margasari Village), product type (mangrove syrup), producer group ('Cinta Bahari')

Strengths & Limitations

Strengths

+Provides a clear financial assessment of a niche product.
+Identifies specific areas for marketing improvement.

Limitations

The financial data might be specific to the local context and not universally applicable. The marketing analysis is observational, not based on experimental testing.

Reliability & validity

The financial analysis relies on specific cost and price data, which may vary. The qualitative marketing analysis is descriptive and subject to interpretation.

Think critically

How might the 'Cinta Bahari' group's limited production capacity or local market focus have influenced the observed marketing strategies and their effectiveness?

Design Principles

"Financial viability and strategic market positioning are crucial for the sustainable growth of innovative product ventures."

This research highlights how a unique, health-beneficial product derived from local resources can be a foundation for a profitable enterprise. It underscores the importance of assessing not only financial feasibility but also strategic marketing approaches for niche products to achieve broader market penetration.

What This Means for Your Design

Making syrup from mangroves is a good business idea because it makes money and is healthy, but the way it's sold needs to be improved to reach more people.

How to use in your project

1.Use the financial analysis methods (NPV, BCR, BEP) to justify the economic viability of your design solution.
2.Discuss how your design choices for product, packaging, or promotion could improve marketability.

Add to My Project

Quick Cite

Paragraph starter

This research indicates that the mangrove syrup business is financially feasible, evidenced by a profitable cost-to-price ratio and positive financial metrics like NPV and BCR. However, to maximize its potential, improvements are needed in product presentation, distribution channels, and promotional strategies, highlighting the critical interplay between product viability and market penetration.

Source

Jurnal Hutan Tropis

KAJIAN PENGEMBANGAN USAHA SIRUP MANGROVE DI DESA MARGASARI KECAMATAN LABUHAN MARINGGAI KABUPATEN LAMPUNG TIMUR

journal · 2017

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Questions About This Research

What does the research say about mangrove syrup business: a feasible venture with untapped market potential?: Designers and entrepreneurs should conduct thorough financial feasibility studies and critically evaluate all elements of the marketing mix, especially product presentation and promotional strategies, to unlock the full market potential of niche products. Evidence: Jurnal Hutan Tropis (2017).
Why does "Mangrove Syrup Business: A Feasible Venture with Untapped Market Potential" matter for design?: This research highlights how a unique, health-beneficial product derived from local resources can be a foundation for a profitable enterprise. It underscores the importance of assessing not only financial feasibility but also strategic marketing approaches for niche products to achieve broader market penetration.
How can designers apply this research?: Designers and entrepreneurs should conduct thorough financial feasibility studies and critically evaluate all elements of the marketing mix, especially product presentation and promotional strategies, to unlock the full market potential of niche products.
What were the main findings?: The mangrove syrup business is financially feasible, with a profitable margin between production cost and selling price.. Key financial indicators (NPV > 0, BCR > 1, BEP at production cost) confirm profitability and a quick return on investment.. While pricing is effective, strategies for product, place, and promotion require improvement to enhance market reach.
What research method was used?: Mixed-methods research, combining financial analysis with qualitative descriptive analysis. with The study focused on the 'Cinta Bahari' group, the sole producer of mangrove syrup in the area..
How strong is the evidence?: Evidence strength is rated Strong effect, based on a 2017 journal from Jurnal Hutan Tropis.
What should I do differently in my next project?: Before launching a new product, conduct a comprehensive financial analysis and develop a robust marketing plan that addresses product, price, place, and promotion.
What are the limitations?: The study's focus on a single producer group may limit the generalizability of findings to other contexts. Marketing strategy analysis was descriptive and did not involve direct consumer testing.