Report about Norco milk Australia

Complete my assessment about Norco milk of australia for Enterprise Innovation and Markets question 4 and 5. for question number 4 you should add that Norco don’t have a vegetarian option and more healthy choices that is the problem. Also for question 5 the innovation are camel milk and almond milk question 4: Link your team’s research analysis in steps ‘1-3’ to identify and explain one (1) problem facing your allocated ‘Enterprise – brand’s product category’’ in the Australian marketplace. (400) – Norco is meeting the need of their consumers in the convenience product category, their focus is manufacturing and disrupting dairy product. They embrace their role in supporting the rural industry in Australia. In the Australian dairy marketplace, their main competitor is A2 a New Zealand public company that operate in Australia, United Kingdom, united states and Asia (Our Businesses, n.d.). in the dairy market Norco facing a new challenge regarding their operation. The demographic change that Australia undergoing require more supply of dairy products. Since the Australian milk production peak 11.27 billion liters a year 2002, the production has shrunk to 8.7 a year while confronting increase of the population (Tyne, L. Jon, D, 2019). question 5: Apply creativity to transform the one (1) problem, see task 4, to an innovation for a new product within the same allocated ‘Enterprise – brand’s product category’. Refer to chapters 2 & 1 (500). – Referring to the model of innovation and entrepreneurial process, Norco could recognize the opportunity and find the recourses to develop an alternative dairy and non-dairy products. Camel and almond milks could be great alternatives to cow milk for Norco to capture consumers value. Globally, the rise in preference for vegan diet and growing health concerns has led to the large-scale adoption of dairy alternatives for various applications (Anon, 2015). The introduction of almond and camel milk could target consumers striving for healthier option in regard to their medical reason or lifestyle choice. Norco would be more creative using original idea and expand it to create new product that could serve a psychographic segment in the dairy Australian market. references: Our Businesses (n.d.) Global dairy-based nutritional product business – The a2 Milk Company. Retrieved from https://thea2milkcompany.com/our-businesses/ Tyne, L. Jon, D (2019) Dairy expert says Australian industry at ‘tipping point’ as demand puts pressure on supply. ABC Rural. Retrieved from https://www.abc.net.au/news/rural/2019-04-22/australia-to-become-dairy-import-reliant/11025026 Anon, 2015. Dairy Alternatives Market by Type (Soy milk, Almond milk, Rice milk, Others), Formulation (Plain & Flavored Sweetened & Unsweetened), Application (Food & Beverages) – Global Forecast to 2020. PR Newswire, pp.PR Newswire, Nov 26, 2015.