Question

Topic: Strategy

Marketing Black Rice

Posted by sanjay.bahl on 3/4/2011 at 4:47 AM ET 250 Points
Dear All,
I live in New Delhi, India. During my recent visit to Northern part of the country I found a Rice Variety called "Black Rice".
This rice variety is a rare crop, it takes a long time to grow and is only known to the locals. It is served as a delicacy in the local festivals.

After a search on the internet, I found that Black rice has recently been proclaimed to be a very healthy food, Nutrition rich, high in fibre and Iron. It has something called anthocyanin, which acts as powerful antioxidants and is beneficial for treatment of lifestyle diseases like cancer, diabetes etc..

There is a company, Lotus Foods, USA which found Black rice in a similar way in parts of China and is selling it in the US market by the brand "Forbidden Rice".

I too wish to develop this rice as a popular healthy food, want to give it a name and develop it as a global brand. I believe only a volume in sales will yield good profitability.

I need your suggestions on, Whats is the best possible way to go forward.

regards
Sanjay
To continue reading this question and the solution, sign up ... it's free!
SUBSCRIBE
Or, SIGN IN

RESPONSES

  • Posted by CarolBlaha on 3/4/2011 at 6:13 AM Accepted
    I think Marcus is right. I have both eaten black rice at a few restaurants and cooked with it- I love it. Foodies know about it. But the mass market still eats white and instant. I'd market it to restaurant food distributors. Its not mainstream in the restaurants here-- but I see the potential for the restaurant that isn't into a "me too" menu and tries to bring new items to their patrons.
  • Posted on 3/4/2011 at 7:00 AM Accepted
    I agree with Marcus and Carol. The opportunity is ripe, and you'll spoil everything if you try to market this to a broad audience.

    You need great business and marketing plans, adequate investment capital (for marketing and distribution), and a few smart managers to make this happen. The concept is terrific.
  • Posted by sanjay.bahl on 3/4/2011 at 9:58 AM Author
    :) I am glad to recive such responses, keep giving more.

    Need some advice on how to spread the word in the global market.
  • Posted on 3/4/2011 at 10:55 AM Accepted
    Regarding "how to spread the word in the global market": Don't.

    Keep quiet about it until you have your business and marketing plans in place, your financing all lined up, and you are ready to take orders.

    There isn't much benefit to "spreading the word" if you are not ready to market the product. And "spreading the word" requires funding.
  • Posted by sanjay.bahl on 3/7/2011 at 12:40 AM Author
    @mbarber,
    @latahnja.hood,
    @PhilGrisolia4Results: Thanks.
    @CarolBlaha : thanks for highlighting Food distributors
    @mgoodman : Thanks for the tips, do u know of similar companies marketing exotic food crops etc..
BACK TO TOP

Post a Comment

Related Discussions

Community Info

Top 25 Experts
(Strategy)