Product Development and Business Model of Dietary Supplement from Riceberry for Elderly, Thailand
This research aims to study product development and create business model of dietarysupplement from riceberry for the elderly.The project can alsoincrease the value of riceberry. The researchers collected data from consumers to study possibility of market meanwhile collected data from rice processing enterprises andcommunity enterprises to study possibility of production.Four interesting products have potential to develop new product from riceberrywhich are: 1)Ricebbery brown milk2)Riceberry porridge 3)Riceberry extract supplement capsuleand 4)Riceberryinstant drink powder. Riceberryextract supplement capsulewas eventually selected to analyze the business model which covers 9 issues: 1)Customer Segments 2)Value proposition 3)Channels 4)Key Resources 5)Key Activities 6)Key Partnerships 7)Customer Relationship 8)Revenue Streams 9)Cost Structure.Business model analysis According to business model analysis, there are 2 groups of target customer, one is the elderly who wants anti-ageing food and health promoting food, another one is elderly who has health problem. In summary, the elderlygroupsrecognisethat the product is nutritious food, disease preventable and anti-ageing. The purchase channels are hospital, supermarket and drug store. In additional, the key resources are quality of product and purchase channel. The key activities are modern production technologyand network of business partnership creating. The key partnerships are farmers and distributors. In order to create customer relationship, product information center and hot line should be set up. The revenue streams come from product purchase with suitable package for customers.The main cost structure are production cost and marketing cost. The research conclusionreveals various aspects ofriceberry extract supplement capsule development that can proceed to return investment analysis.
Key words - Dietary supplement, Elderly, Riceberry, Business model