Native American Botanic Corporation (NAB) is a new company that seeks to establish itself as a unique Native American owned producer, manufacturer and marketer of herbal dietary supplement products. The planned product line will consist solely of products native to the U.S. NAB's competitive advantage is based on its ability to use new business technology methods to market traditional products to consumers in a growing market where an increasing premium is placed on the marketer's ability to offer greater information on the herbal supplements.NAB's principal investigator proposes to work closely with top consultants and utilize currently available secondary research, while developing new models to test its hypotheses. NAB will test consumers and non-consumers of herbal supplements in their awareness (whether correct or not) of aspects of Native American history, culture, lore, and traditions to determine whether that perceived awareness might influence their purchase behavior. We expect the results to offer insights as to what type of value, if any, will prospective and current consumers of herbal dietary supplements place on the centuries-old herbal remedy usage patterns of Native Americans. Also, we expect to determine how NAB can capitalize on this existing knowledge to further promote Native American herbal products.
Anticipated Results/Potential Commercial Applications of Research::NAB will seek to establish the feasibility of continued development of its Native American herbal marketing strategy. NAB anticipates to be able to more closely measure the size, demographics and purchase decision characteristics of its target market. The result of this information will lead to coordination of efforts to meet this demand successfully while offering high return to the Native American tribal equity investor(s), company organized tribal entrepreneurs, and contribute valuation models for other Native American markets thus providing valuable marketing information to strengthen new and developing markets.
