The objective of this project is to study the feasibility of the business and develop guideline and strategic plan for Barrame Osot Co., Ltd., an SME conducting business on the production and distribution of herbal products, such as traditional medicine, for wellness of people around the world, especially ones in Thailand. The company will start operating in 2019 with the production of traditional medicine initially. An analysis of the external business environment indicates that the market of herbal products is very promising for the company due to its high market growth rate and government support to promote Thai herbal products towards international standard. This includes the drafting of the first Thai Herbal Products Act that would be beneficial to legitimate manufacturers. As a result, the company would be able to generate profits from operations and create a competitive advantage in the long term. For the operational strategy, the marketing strategy planning starts with analyzing target customers by using the online survey responses collected during December 2018 and January 2019. The results of the analysis are used to determine the market positioning and marketing mix, which are product, price, channel and integrated marketing communication. In addition, the evaluation of the effectiveness of various marketing tools is included to manage the proportion of the budget for each tool. For the purpose of achieving business goals in long-term sustainability, administration and manufacturing are needed to be supervised attentively. The organizational structure will be divided in accordance with the production plan, which are to build a GMP manufactory, to use HACCP and quality control to enhance better production safety. In addition, the income statement, project evaluation and contingency plan are provided in order to study the feasibility and prepare for an emergency management.
