Implementation of product innovative in Sofiiska banica

Sofiiska banica Ltd. is one of the leading companies in production of a traditional Bulgarian doughy product named banica in the last 15 years. The company identified as a main problem for it's further development on the market the high calorific value and in the same time - short expiration period of its products as a result of the use of ingredients of animal origin. Another problem is also that these products overall are not in accordance with the modern trends on the food market for healthy, green, bio, eco life style and the overall direction this market is growing in. With the realization of the current project Sofiiska banica Ltd. aims to implement in its production portfolio and to launch on the market a product innovation - frozen vegan banica, with a better expiration period, with no animal fat and components from animal origin, produced in a ecologically clean method. In the same time the product will keep the traditional taste and its nutrition quality. In this way the company will solve its main problems, will increase its competitiveness and will enter the specific market of healthy and vegan foods and will increase its market share - on national and European level. Main target group of customers are consumers of healthy foods, vegans, vegetarians, people with health and weight issues who are not allowed to consume animal products and others. The main objective of the current project is increasing the innovation potential and competitiveness of Sofiiska banica Ltd. by implementing and marketing a product innovation - frozen vegan banica, part of thematic area "Industry for healthy life and bio technologies" of the Innovation Strategy for Smart Specialization. As a result of the realization of the project the company will improve its sales income and market position. The implementation of the innovative product will happen according planned activities - purchasing of new equipment, testing of the product, market research.

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