The Concept
Keto granola bars are healthy, nutritious products with low carbohydrate and fat content prepared for all kinds of diets. It is a healthy product that has gained popularity among vegans and vegetarians as it is an alternative to sugar-rich bars such as chocolate and cakes. The current trend in dietary needs among different communities. The Keto bars contain almonds, cashews, pistachio, Thai coconut, and maple syrup.
Background
There has always been a need to eat healthy among all ages. However, the concept was not widely adopted among most communities as only those recommended by doctors chose to eat healthily. Also, the presence of cheap on-the-go sugar-rich snacks in the markets has lured many people into unhealthy eating habits. The COVID-19 pandemic has forced many people to appreciate the need to eat healthy and natural products. People suffering from chronic infections are the most endangered if they contract the coronavirus.
The Company
Kernel Keto is a medium-sized business that works with a growing number of customers throughout the country. Its initial goal was to reach the mark of $1 million in sales by the end of the second year after the business was launched. The company enters an already existing market but seeks to harness its strengths and exploit opportunities while fixing weaknesses and neutralizing threats.
The Market
The company targets healthy as well as regular diet eaters. Although the company seeks to establish itself by marketing natural, nutritious, and healthy products, it will also market regular products on the go. The company products target an already occupied but not concentrated healthy-foods market which comprises giants such as Munk Pack and Perfect Keto which will be challenging to displace or compete with.
Competitive Position
The current health trends and challenges such as obesity rising every day present better and more promising opportunities for the company. The proliferating demand for Keto bars is growing faster than demand which promises high revenues. The fact that some of the corporations in the industry have stopped serving Keto bars gives Kernel Keto the green light to enter the abandoned markets.
Management Team
The management team of Kernel Keto will comprise the Chief executive officer (CEO), who will oversee the Chief financial officer (CFO), operational manager, and marketing consultant. The CEO will also supervise developing strategic objectives of the firms’ operations and policies. Setting the goals provides employees with expectations on their roles and business growth. The CEO will also oversee implementing proposed plans.
The Future
The company will sell the products in grocery stores, cafes and restaurants, and sports avenues. Public sites are ideal for advertisement and attracting new clients. The sales will be strategized to achieve the target revenue as projected in the company goals. At the same time, Kernel Keto will sell the products online with direct delivery as a way of improving sales.
Financials
The company will spend 35% of its revenue outsourcing ten different product lines from other companies and partners. The company will also spend on storage, technology acquisition and maintenance, salaries, and managerial compensation benefits.
Funds Sought
Kernel Keto will spend $1,000 on purchasing equipment (telephone) and $15,000 on buying computer hardware (laptop). This equipment is critical for setting up the company’s operation. Other than that, starting funds will be spent on marketing and advertising in the first year of operation, professional services, equipment rental, workspace rent, and other fundamental needs.
Kernel Keto is a medium-sized business that works with a growing number of customers throughout the country. Its initial goal was to reach the mark of $1 million in sales by the end of the second year after the business was launched. The company developed an effective strategical position using the strategic approaches of customer perceptions factors and the business model of selling the physical products. This paper demonstrates a business plan for Kernel Keto, which will include the analysis of the trends in the industry, develop the strategic positioning, choose distribution channels, and present a SWOT matrix balancing risks and opportunities.
Product Description
Kernel Keto is a company that produces Keto granola bars. These Keto bars contain almonds, cashews, pistachio, Thai coconut, and maple syrup. The products do not include added sugar, food colorants, or artificial flavors. Kernel Keto provides consumers with a wide variety of bars to choose from. Along with the nut bars, other types contain strawberries, cherries, raspberries, and blackcurrants. These bars are low-carbohydrate snacks, as they do not contain chocolate glaze that contains added sugar. It is, however, possible to launch product lines with glaze in the future. Glaze contains cocoa butter, blueberry paste, cranberry paste, raspberry paste, and orange, lemon, or lime peel paste. Fruit and berry spreads will use a unique icing recipe and present a crispy crust. A cocoa paste will be the more traditional choice for soft and delicate icing. The glazing choice is made because of the bright colors, usefulness, and recognition of these products.
The Mission Statement
The mission statement of Kernel Keto is “Fill the body with truly healthy ingredients.” The purpose of Kernel Keto is to produce low-carbohydrate snacks that consist of natural ingredients. Many existing granola bars advertised as healthy are full of carbs and added sugar. Kernel Keto makes a difference as it offers granola bars that are nourishing, high in proteins, natural, and delicious. Kernel Keto’s bars target vegans, vegetarians, meat-eaters, athletes, children, and those who snack on the go.
The product price is another of its strengths, as the product ingredients are sourced at competitive prices from local suppliers. Equally important, Kernel Keto provides additional services to its customers. For example, selling at wholesale prices, gift-wrapping, or packaging with an alternative design for cafes and restaurants, and free shipping for large orders. Kernel Keto also offers a free tasting of new products on the company’s opening day, with samples of bars with new tastes sent along with greeting cards. Additional services will demonstrate attention and respect for customers. At the same time, the overall relationship to the customer can be expressed through the common desire to create healthy and tasty products and improve the mood of customers.
The management style and attitude towards employees is an essential element of how a company positions itself in the market before customers and partners. Therefore, Kernel Keto intends to provide a corporate culture that supports high moral values and cares for its employees by creating stable and favorable working conditions. The work environment will have a transparent nature to empower employees to solve problems in the shortest time possible. It will also help monitor the quality of process management.
Kernel Keto will adhere to the rules of fair competition concerning the rest of the industry. It is an essential element of success, given that the health food market is new, and players are constantly appearing in it who start to follow the existing rules. Equally important, Kernel Keto will use original manufacturing techniques developed by technologists in the US and manufactured in China according to the proposed schemes. Kernel Keto aims to increase its sales revenue to $1 million by its second year of a business launch. Overall, Kernel Keto hopes to become one of the market leaders and establish its strategic position with a permanent base of loyal customers.
Trends in the Industry
Consumers have shown an increased demand for organic products in the last five years. They pay attention to health and the product ingredients, the menu of which consists entirely of organic products. Natural food manufacturers that allow low-sugar sweets are also benefiting from this trend. As a rule, production costs for organic products are higher, creating certain obstacles for producers. At the same time, the organic market shows steady growth despite the growing prices for the constituting products. Also, organic products are available to high-income earners who form the largest portion of the buyers. The industry saw a 22% growth in 2017-2022, and experts predict a further 17% growth over the next five years, including 15% growth for granola and nutrition bars (2). General Mills Inc. and Campbell Soup Company are the biggest players in the US organic industry.
Even though these market giants have considerable experience in the production of fast-food products, less experienced manufacturers have an equal chance with them due to the nature of the industry. In today’s organic snack food industry, companies produce packaged foods and avail them to retailers. The organic ingredients that are used for production are certified by the USDA. It is noteworthy that today there are such categories of organic products – industrial products and services, salty snacks, fruit snacks, granola and nutrition bars, and others. Therefore, Kernel Keto, as a manufacturer of granola and nutrition bars, competes with both manufacturers of similar products and other types of products.
Strategic Position
Wise company managers ensure that their strategic position lies at the intersection of the company’s strengths and interests. Industry trends and developments, market changes, and opportunities brought through new technologies are also of great importance. Scholars mention that small companies that have a good understanding of the process of choosing or establishing a strategic position can quickly grow from local sellers. It also targets local buyers to a national manufacturer with average sales volumes. Therefore, Kernel Keto will pay special attention to strategic positioning to achieve its goal of $1 million in profit in two years. Researchers emphasize that manufacturers should properly prioritize and avoid investing in activities with lower priority. Scholars also mention that defining a strategic position is about creating a meaningful position in the market. It is a very sensible observation, and Kernel Keto will make every effort to create a unique position in the market.
Traditionally, strategic approaches to distinguish the company include customer perception factors, market segment, market share, operational and technological advantages, proprietary products, technology, abilities and relationships, sales channels, business model, first-mover advantage, lean start-up, and branding. Kernel Keto will rely on customer perception factors, including societal impact, features, price, quality, customer service, and convenience. It will also utilize the business model approach, choosing the sell physical products business model. Manufacturers and retailers can sell the products directly to consumers, through wholesale sales, brokering, leasing, shared ownership, subscription service, per-use fee, advertising and sponsorship, licensing and franchising, auction, donations, and grants. Therefore, Kernel Keto will rely on the direct and wholesale types of sales.
Distribution Channels
The company will sell the products in grocery stores, cafes and restaurants, and sports avenues. Public sites are good for advertisement and attracting new clients. At the same time, Kernel Keto will sell the products online with direct delivery. Given the new realities associated with the pandemic, many shoppers buy groceries in advance, and orders for home delivery will rise in the future. Unfortunately, reduced demand in places of mass gatherings of people due to quarantine restrictions.
SWOT Matrix – Balancing Risks and Opportunities
SWOT matrix is a handy tool to determine the expected risks and opportunities, which is very important for drafting development paths and strategies, including the market strategic position. The risks include market, competitive, technology, product, execution, capitalization, and global risks. Investors often use the SWOT matrix to balance the risks and opportunities. Kernel Keto’s main threats include competition with Munk Pack, Magic Spoon, and Perfect Keto.
On the other hand, given the growth trends in the organic products industry, more favorable conditions for sales growth can be expected. Low barriers of entry for new competitors are another considerable threat. Some opportunities balance the threats: low-carb granola and bars have high demand among people who need a healthy diet. Kernel Keto is also in a niche market of health and wellness, a sub-niche of nutrition, and has great potential among vegetarians, vegans, meat-eaters, and other people who prefer healthy lifestyles.
Marketing Plan and Sales Strategy
Target Market
The company’s target audience is lovers of a healthful lifestyle and a low-calorie diet. The people consume “light,” tasty, rich, and at the same time, free from high amounts of carbohydrates food. The shoppers care more about their physical, cognitive state and well-being, paying attention to the diet and nutrition consumed. The target customers are more loyal to the so-called healthy snacks in the form of bars. The key customers are athletes, vegetarians, meat-eaters, dieters, and overweight people.
Other Data
Furthermore, referencing the demographic, psychographic, geographical data, and buyers’ lifestyles, models, and features of purchases, the following picture of the situation should be highlighted. According to current data, the coronavirus pandemic has broadly stimulated the sales of healthy bars, which, today, are popular not only among athletes but also among a wider audience (1). As a result, relying on this information and selected data from previous studies, the central target audience for the Kernel Keto is American women and men of active age (from 20 to 40 years). Additionally, the group includes teenagers who prefer quick snacks on the go and older adults who need additional valuable and essential elements for the body.
These are active and modern residents of large cities and megacities who plan their time for food consumption and follow new, fashionable trends. Most buyers strive to keep themselves in good physical shape and tone, giving preference to high-quality innovations and the best cooking technologies. Clients choose healthy and low-calorie foods as the basis of their diet. The Kernel Keto’s delicious and natural bars are healthy alternatives to bread or regular snacks between meals.
The Company’s Market Competition
Indeed, today, many corporations are producing healthy and low-calorie bars, and some of these organizations focus specifically on this category of goods. From the market point of view of this “creation,” and its key aspects, one should emphasize the following points. For instance, one of the prominent companies with which Kernel Keto will compete is Nestle and its line of snacks Fitness Bar. Therefore, Nestle and Fitness products are dominant not only within the USA but also around the world among the designated Kernel Keto audience.
In this case, it is recommended to identify the factors influencing Kernel Keto’s market competition assessment. According to Zeder (5), five main factors affect companies’ competition in the economic aspect: product features, number of sellers, barriers to entry, availability of information, and location. Firstly, the distinctive characteristic of Kernel Keto products, which stands out against the background of analogs, is the production of various tasty, delicious, natural, low-calorie, saturated, and nutritious bars without sweet bases and chocolate fillings. They are suitable for both active people and those interested in healthy food. Many existing bars advertised as healthy are full of carbohydrates and sugar. However, Kernel Keto offers bars filled exclusively with nutritious and natural ingredients; they are rich in proteins and, at the same time, delicious.
Secondly, there is a relatively average level of competition in the US in the market of nourishing snacks. However, as for healthy and low-calorie “appetizers,” Kernel Keto bars will be one of the unique offers in the industry. Thirdly, barriers to entry to the market are high, as they require additional investments for rental of premises, utilities, manufacturing resources, machinery, different production components, as well as brand and product promotion. Fourthly, it is easy for consumers to compare prices and find a more profitable alternative. Fifth, the location of the sellers and the premises for production are within “walking distance” from each other. Accordingly, competition decreases with the active interaction of two of the parties. In addition, to stand out from the competition, it is necessary to follow several basic rules. Primarily, Kernel Keto should develop a unique and exciting product to impress potential customers. It is recommended to clarify and analyze consumers’ needs; customer service should be impeccable. Investments in brand promotion and marketing campaigns are needed for the first time. The firm can offer a test period or a refund if buyers do not like Kernel Keto’s bars.
The Company’s Value Proposition
Based on the general characteristics of the products and the company for its production and the target audience, the following aspects should be identified regarding the value proposition of the Kernel Keto. Hence, for instance, the firm offers a new, uncommon, and different approach to creating snacks. It should be noted that most of the analogs are hidden under the guise of “healthy” products, but, they contain a high amount of simple carbohydrates and calories. Kernel Keto presents shoppers with a holistic, unique product that will complement the breaks between full meals. The bars contain only the most useful, valuable, natural, and high-quality components. Consequently, consumers no longer need to study the product description in more detail, read reviews and additional information about the “hidden moments” from the manufacturer.
The Marketing Slogan/Tagline for The Product
Undoubtedly, for both the brand and its product to be easily recognizable, it is essential to have a unique, special, and memorable slogan, examples of which are the following expressions and phrases.
- Our most reliable investments are investments in your health!
- The art of real taste inside.
- Never have healthy ingredients been so delicious and saturated.
- The health of mind and body in a bar.
- Catch a healthy mood!
- Who is looking for natural, finds Kernel Keto’s bar.
The Marketing Vehicles
Today, there are many ways, methods, tactics, strategies, and tools to achieve success in promoting the brand and the products offered. In this vein, I would attempt to synthesize the available and possible marketing tools into a single whole. For example, these include promotion on the Internet, advertising on television and radio, calls to potential customers, SMS and mailing, website creation, brochures, booklets, and much more.
The Key Reasons
However, as the primary type of marketing, I would prefer the promotion of products in the Internet space for the following reasons. Firstly, most of the target audience are active young people. As a rule, this category of people spends more time on the Internet and social networks using phones, tablets, laptops, and computers. Secondly, modern Internet marketing has advanced to such unprecedented heights that it has learned to “target” and select the “right” audience, creating the proper conditions both to attract the majority of customers and save money.
Marketing Budget
Operations, Technology, Management, and Social Responsibility Plan
Operational Plan
The firm will outsource production from an existing firm to facilitate the Kernel Keto operations. Keto bar Company will be given a chance to have industrial knowledge on variables such as consumers’ tastes and preferences. The Keto bar Company can combine its method of production to acquire a low-carb diet which is the goal of our product. It will ensure that we reduce costs associated with raw materials, packaging utilities, and the lead time of the operations. For the packaging, we shall provide the Keto bar with the design of the package that will include the graphic design, contact details, colors, and ingredients. In addition, since it’s a new company, outsourcing will allow the firm to focus on human resource management in marketing and selling. The outsourcing cost will be 35% of the selling price for any product line. For product line 1, we intend to sell it at $4.50; hence we need to make sure that the outsourcing price is 65% which will be $1.575 (3). It will apply to all ten product lines to ensure that the firm takes advantage of mass production.
Kernel Keto Company is a retail business that majors in the production of protein bars. After outsourcing the product, the firm will need a warehouse to store the product before it is sold out. As a result, the firm will need a refrigerator that can hold maximum bars for mass production. The refrigeration will be leased rather than purchased, making the cost of maintenance and repairs cheaper than buying one. It will also facilitate that we use the firm to rent more fridges when the product bars are so many. The refrigerates are essential for quality control as they maintain the consistent taste of the kernel Keto bars before they are released to the stores. Hence, the refrigerator needs to be cleaned regularly before storing the bars once they arrive in the warehouse.
From the marketing plan, the target market for Kernel Keto products is consumers from large cities who value healthy low-carb diets and fitness enthusiasts who enjoy high protein meals. Accordingly, the production needs to be mass to sustain the consumer capacity. The business intends to have a turnaround time of 3 business days once we receive the order. The process will be in workflow automation, where the consumer will order through the website and track its shipment. In addition, the warehouse will always have products in hand to ensure there is no lead time for the consumer.
The firm will invest in research and development to stay abreast in the industry. The marketing team will acquire feedback from the consumer about the product. The reviews are essential as it provides insight into what the market needs. They will also be involved in researching what the competitors are working on and the new industry trends. For now, Kernel Keto is producing 9 product lines that are up to date, and the firm will be focused on them and look for ways to improve them as new products will be a heavy investment.
For operation, the business requires approximately six personnel. One will oversee transportation that picks the Kernel Keto from the outsourced firm to the warehouse and ensures the orders are shipped to the customer. The warehouse will have two personnel involved in inventory counting, storing the bars in the refrigerators, organizing the warehouse, ensuring they are ready for shipment, and cleaning the warehouse. They will take shifts to ensure the business runs throughout the day without interruption. The rest three personnel will be involved in marketing. That is ensuring that the website is up to date with the business operations, taking customers’ orders, reviewing consumer feedback, creating product awareness, and getting new clients.
Technology Plan
The firm’s software needs will be used to design and deploy the website. Integrating software within the website will maximize the functionality and interaction of the website. The cost of the website development and maintenance is already substituted in the marketing cost analysis. The first software will be customer relationship management that will enable the customer to purchase, order, pay, track the shipment, and review the product. It will also have QuickBooks, accounting software that will have features that allow the firm to send automatic payment reminders and auto invoices as well as customers paying for the product on the website.
The telecommunication needs of the firm will be telephone and the internet. The telephone will allow the firm. The firm should streamline good communication with its customers. It will provide a fast interaction that is quick and more personal, creating a better experience. The internet will be used to facilitate operations, especially on the website. For hardware needs, a computer is necessary for the operational process. The computer will improve the inventory management process. It will enable sale tracking, allow the firm to monitor sale trends, analyse data about seasons, and help us plan accordingly. It will also allow the firm to track stock levels. The number of goods being outsourced provides a system on how to distribute the product, mainly the FIFO approach and the stock available in the warehouse.
The technology personnel will both be in-house and outsourced. The personnel involved in website making will be outsourced since it is a one-time payoff. The in-house employees will handle it once it starts to run. However, he will be outsourced regularly for maintenance or when an issue arises. The rest of the technology needs the in-house employees who will handle it, such as answering the telephone, taking orders from the website, updating the website, and creating a customer relation managing through the website. The move will cut down on costs associated with outsourcing.
Management and Organization
The management team of Kernel Keto will comprise the Chief executive officer (CEO), who will oversee the Chief financial officer (CFO), operational manager, and marketing consultant. The chief executive officer will oversee developing strategic objectives of the firms’ operations and policies. Setting the goals provides employees with expectations on their roles and business growth. The CEO will also oversee implementing proposed plans. The objective set will be required to align with the long-term and short-term goals. CFO needs to communicate the approach to the employees to ensure the operations are in accordance to maximize profits. The role will require personnel experienced with managing a company’s overall function in the food industry.
The company will also need a chief financial officer who will analyze and plan the company’s financial weaknesses and strengths. The company will need to invest in the CFO to acquire an annual net sale of $1 million. The CFO will be overseeing the organizational financial accounts, meeting the revenue, and earning goals, and keeping the cash flow stables. The CFO will supervise every department from transportation, marketing, customer care, and storing and assist them in maximizing their revenues and controlling their expenses without interfering with employee and customer satisfaction or the firm’s reputation. Also, the manager will be required to perform fiscal and financial analysis throughout the year, budgeting, and forecasting. The task involves personnel with financial knowledge and experience in the accounting departments.
Lastly, the management team will have a manager to oversee the company. The manager’s primary duties will be to help the CEO plan, such as looking at the alternatives to achieve an objective before selecting the best course. The manager should be good at evaluating the company’s resources, delegating tasks to personnel based on their skills, product development, and overseeing the general performance of the activities. During this stage, the manager will ensure a conducive working environment in conflict management. Lastly, the manager must direct, coach, and support the employees to motivate them.
The business will have an external advisor who will help in marketing consultation. The consultant will create a detailed market plan and identify the right market mix to get the message out to the target market. Hence, he/she is responsible for ensuring that the product seals, marketing, advertising, and packaging development. He will also ensure that the firm reaches its new profit goals of acquiring $1 million in revenues.
Social Responsibility
Kernel Keto has a social responsibility to ensure that the community adopts a healthy lifestyle. Today’s consumers expect nutritional businesses to behave responsibly by looking for more information on the food consumed and its benefit. As a low-carb snack, the kernel Keto will take a leading role in educating the community on the obesity epidemic. It will reflect on how eating habits influence one’s health and combat it. It will thus provide support for obesity and any illness caused by eating disorders. It will target events such as obesity campaigns and nutritional rallies to enhance the firm’s support to the community.
In addition, the firm has a social responsibility towards the employees in providing a conducive working environment with a good compensation salary. It is also the firm’s responsibility to provide them with opportunities and empowering programs that enable their career growth. It includes training programs and providing them with work out of their scope with managerial support. In addition, they will have flexible working hours as each department contains more than one employee who will make it easy. Also, it is the social irresponsibility for the firm to ensure they deliver a quality product to the consumer with a good consumer relationship. Lastly, Kernel Keto pays the outsourcing company in full and on time.
Kernel Keto activities will have a positive impact on the environment. The product aims to provide a healthy lifestyle through a low-carb diet snack. The snack provides additional nutrients to the essential elements of the body as it uses whole foods in its processing. Kernel Keto will use recycling packaging materials to mitigate any negative environmental impact. The firm will ensure that the packaging materials are made of organic materials such as cellulose to ensure biodegradable. In addition, the firm will ensure that the outsourcing firm takes precautions in waste disposal treatments during the manufacturing process. The steps will ensure that the ecological footprint involved in the product is minimized.
Financial Operational Budget
Figure 2: Operational financials
Projected Sales
Kernel Keto aims at achieving total gross sales of $834,856 by the end of Year 1. The benchmark for Year 2 is set at $1,126,588, which would be a 34,94% improvement compared to Year 1. Eventually, the company is determined to reach the mark of $3,043,050 in gross sales by the end of 2026-2027. These objectives will be achieved by creating ten product lines of healthy bar snacks, which would satisfy the company’s core audience of American men and women in the active age (from 20 to 40 years). Kernel Keto will produce tasty and nutritious bars of various flavors, which would grant a competitive advantage of product features (5). Overall, Kernel Keto expects to sell 180,886 units with a unit price of $4.61 in Year 1. The company will gradually increase unit prices to maintain stable cash flow. For instance, the projected unit price for Year 2 will be $4,74, which is a 2,8% increase over Year 1.
Personnel Overview
Kernel Keto will start operation with six full-time employees — two in administrative roles, two in the sales department, and two in production. The company is not planning to hire extra staff members in the first five years of operation. During Year 1, the average monthly salary for administrative staff is $1,200, sales staff — $1,300, and production workers — $1,400. In addition, administrative staff will receive $833 in monthly benefits across all employees. The overall monthly expenses on employee salary in Year 1 come to $9,673. The benefits program will be expanded on all employees starting from Year 2, which would lead to monthly salary costs increasing to $11,909.
Financing to Date
The total capital investment at the business launch reaches $262,500. The equity capital investments include $10,500 from affiliated companies, $20,000 from direct investors, $11,000 from indirect investors, and $56,000 from company founders. These investments will not be paid on a loan schedule. In addition, Kernel Keto took out three 12-months loans at a 0% interest rate. In particular, the company owes $25,000 to HSC Bank, $20,000 to Microfinance, and $120,000 to individuals.
Use of Funds
Kernel Keto will spend $1,000 on purchasing equipment (telephone) and $15,000 on buying computer hardware (laptop). This equipment is critical for setting up the company’s operation. Other than that, starting funds will be spent on marketing and advertising in the first year of operation, professional services, equipment rental, workspace rent, and other fundamental needs. For reference, the total monthly expenses in Year 1 reach $52,578.
Break-Even Analysis
Kernel Keto aims to achieve profitability by Year 3; however, the first two years of operation will end with a negative net income due to the monthly loan payments and extensive marketing campaigning. For instance, breaking even in Year 1 requires monthly gross sales of $96,428, while Kernel Keto will realistically make only $69,571. However, by the end of Year 5, an estimated annual break-even is 1,238,245, whereas Kernel Keto is expected to reach $3,043,050 in gross sales. Therefore, Kernel Keto will reach high profitability after an anticipated slow start.
References
Goldschmidt, B. (2020). Nutrition bars aren’t just for dedicated athletes. Progressive Grocer. Web.
Organic snack production industry in the US – market research report. (2022). IBIS World. Web.
Tsay, A. A., Gray, J. V., Noh, I. J., & Mahoney, J. T. (2018). A review of production and operations management research on outsourcing in supply chains: Implications for the theory of the firm. Production and Operations Management, 27(7), 1177-1220. Web.
Wood, L. (2019). Global Keto diet market report 2019-2023: Increasing investment by big players in the market – Leading players are Ample Foods, Bulletproof 360, Lovegood fats, Prefect Keto, & Privet Ventures. Business Wire. Web.
Zeder, R. (2020). Factors that influence competition in economics. Quickonomics. Web.