CocoLab / Nur Aida Shafiza Zakaria ... [et al.]

• Main Authors: Zakaria, Nur Aida Shafiza, Hassim, Nur Syuhadah, Rasid, Siti Aishah, Radzuan, Nur'saffiya Edriana, Mohd Ishadi, Nur Aqilah
• Format: Entrepreneurship Project
• Language: English
• Published: 2023
• Subjects: Business education; Business
• Online Access: https://ir.uitm.edu.my/id/eprint/101684/1/101684.pdf; https://ir.uitm.edu.my/id/eprint/101684/

CocoLab, a forward-thinking company in the confectionery industry, recognizes the urgent need to address the environmental challenges posed by the improper disposal of coconut dregs, a byproduct of coconut processing. This waste contributes to both resource depletion and ecological damage. In response to this issue, CocoLab proposes a sustainable solution by repurposing coconut dregs into a new line of confectionery products—CocoCloud Bites, a nougat with added dried coconut dregs. The disposal of coconut dregs presents a dual environmental problem with resource waste and ecological damage. The lack of effective waste management exacerbates these issues. CocoLab identifies an opportunity to turn this agricultural residue into value-added nougat products, addressing environmental concerns and diversifying the product range. CocoLab conducts extensive research, exploring various sources such as journals and news articles to understand the environmental impact of food waste. The coconut industry's integral role in Malaysia motivates the exploration of innovative uses for its byproducts. Online surveys are employed to gather consumer feedback and preferences, ensuring alignment with market demands. Observations reveal the underutilization of coconut dregs, often discarded despite their potential. CocoLab seizes this opportunity to introduce dried coconut dregs as a primary ingredient in CocoCloud Bites, aligning with the company's commitment to sustainable practices and waste reduction. A comprehensive market survey explores existing nougat varieties on e-commerce platforms, identifying a gap for a nougat product containing coconut residue. CocoLab targets teenagers and adults, emphasizing the product's convenience, nutritional benefits, and affordability for on-the-go consumption. CocoLab follows a structured NPD process, starting with idea generation and research. Idea screening involves the careful selection of nougat as the product to be reformulated, incorporating coconut dregs to cater to Malaysian taste preferences and reduce waste. In conclusion, CocoLab's innovative approach to repurposing coconut dregs not only addresses environmental concerns but also taps into market trends, offering consumers a unique and sustainable confectionery option. CocoCloud Bites, with its diverse flavours and sizes, is positioned to capture the market's attention and contribute to the company's growth while promoting environmental sustainability.