Edible items industry is one that never has to face challenge in growth because people indulge their taste buds in delicacies very often. Hence this is one thing less to focus on. Greater focus on healthy ingredients and tasty products with proper advertising, competitive pricing and customer satisfaction are all really required to be looked after .
As mentioned earlier, the inclination of people towards organic and healthy food is at its peak. The brands of organic breads and cookies which are already making are few. This is one thing that will make our product stand out. The fact that our products are only organic will help in building trust and reputation in the minds of customers. Since options for getting such delicacies with added health benefits are really few, most people end up compromising their health goals to indulge in them. Making a product that is budget friendly along with being nutritious will be another feather in the hat as the potential customers will not think twice before buying such products . The primary aim should be to get more customers and not focusing on the per piece profit ratio. A larger annual turnover is always better than a larger per piece profit. For small open economies, like Australia, the careful management and guidance of confidence and sentiment now represents a crucial component of overall macroeconomic policy.
It is estimated that in the major developed economies, including Australia, consumer spending contributes up to two thirds of aggregate demand based on income levels or changes, buying and spending trends and underlying economic conditions. If one considers credit and liquidity to be the life-blood of the economic system, then it is reasonable to regard confidence as the oxygen that sustains the system. Many challenges might surface as a new competition enters the market. Earning customer trust and maintaining the same, competing with the rival companies/brands as they revise their strategies to stop new rivals from taking over their market, proper advertising to name a few. The difficulty in achieving great taste that has manifold nutritional value is a big task.