Objectives of Market Study
In esta establ blis ishi hing ng a busi busine ness ss,, it is an esse essent ntia iall mean means s to iden identi tify fy the the marketing strategy to be used in order to have a competitive advantage against the competitors. It involves certain action and some strategic defense in terms of buying buying and selling selling product products s in the target market along along with with giving giving services services.. Identifying whether the product will satisfy your customers and if there are still unsatisfied unsatisfied demand in your target market is an important element to maintain the existence of the business in its long-run of operation. This part also determines and evaluates the demand and supply of the food industry in the past, makes forecast of demand and supply in the future, and finds out the competitive position of the business in the industry. In addition, this also designs designs and formulates formulates the procedures procedures and marketin marketing g program programs s of the business. Splitaw is in line with food industry specifically kakanin that vend bite-sized alitaw. The proponents choose this kind of product because of its consistent demand in the market in order to keep pace with trends, shops that sell variant kakanin and similar perishable goods still exist.
The vicinity of Splitaw is a good spot for prospective buyers ranging from ! to !" years of age because of the establishments surrounding the store such as schools, schools, baranggay baranggay hall, hall, terminal terminal and by-pass by-passers ers.. The competit competitive ive edge edge of kakanins ns is its affordability and innovative savor. The Splitaw Splitaw from the current current kakani
proponents proponents make sure that the palitaw balls are freshly made and the flavors are
#ust superb that every customer can$t resist purchasing it over again. %aving a cheaper price does not imply low &uality but an encouragement to try the product and patronized it for its inimitable taste.
Methodology
This describes and discusses how the researchers will gather the necessary data and information that will be used in the entire feasibility study. It describes who will be the respondents and focus of the research. This also shows the procedures of sources of data and methods of collecting data' these also describes the type of research where the study will be conducted and description of our product, outlook of the industry, population of the target market and the marketing strategies that we will going to apply to our business and the competition in the market. The researchers will be using the descriptive design using survey &uestionnaires.
The survey will be conducted
by providing
structured
&uestionnaires to a number of identified respondents from the students of olytechnic (niversity of the hilippines. The participants who were asked to evaluate our product were randomly selected from identified respondents. Demand
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Supply
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Demand & Supply Gap and Demand & Supply Analysis
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arget Market
Splitaw wants to distress the purchasing influence of most of the )ilipinos as its offers an affordable price with a different twist. *t all ages is the target market of our product, male or female, professional or not. *lso one of our ma#or target markets will be the elderly, ages +! and up, because they are the ones who crave more of kakanin. This confirms a big scope of market that will cater our product
Marketing Strategies !"ps Of Marketing#
he $roduct
In every business, the &uality of products is always the central part. The management of ingredients for the product needs a careful evaluation and planning to develop the right product that will be marketed by the enterprise. et us introduce to you our product named, Splitaw, the combination of the word split and palitaw. /Split it, at sarap ay lilitaw01 This is not the usual and plain palitaw that people have known. 2e thought of making our product more attractive and a bit fancy by having two variation of fillings3 y ema and pastillas. 2e also top it with sesame seeds and drizzle with condensed milk and
chocolate syrup. 4ema is the Spanish term for egg yolk which is intensely rich and similar in texture to the )rench cr5me br6l7e and popularly wrapped in colorful cellophanes. *s with a lot of other things in our multicultural heritage, whether yema is entirely )ilipino or Spanish in origin remains to be conclusively proven. 8ut it is said before that a famous Spanish convent already produced a very similar delicacy. 2hile the Spanish cognate pastilla, is used to describe various non-medicinal items. It is also the name given to a traditional 9oroccan s&uab /pigeon1 pie. 8oth delicacies can be purchased from sari-sari stores and some groceries. So, we combined all these famous inoy desserts in one.
$ackaging
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$ricing
The prices of Splitaw will be dependent on how the market price of the main ingredients is. :ach palitaw will cost from ;-<= pesos based on the expense of the ingredients used. *ny change of the price of the alitaw will be taken into consideration to the factor that measures consumer$s capability to purchase the product. $lace Of Distribution
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$romotions
This is the ultimate ob#ective of the proponents to be known or become popular from the first three months of the operation in order to publicize the business and for the customers to be familiar on the product that it offers. •
Social 9edia - Splitaw will have its own )acebook and Instagram accounts where customers can express their comments and suggestions where most of the target market especially teenagers are active at. It contains
the description of the products and services that the business offers. It will
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also serve as a communication media where they can place their orders. 2ord of 9outh - The proponents conducted a taste test on their families, neighbors and friends. They persuade the proponents to produce more or establish a business. The relatives and common friends invite the business in different occasions such as birthdays, weddings, anniversaries etc.
$%O$%
%uman >esource is one of the important factors in operating a business venture. They perform the managerial functions such as planning, organizing, leading and controlling. In this business, skilled and unskilled labor may help managers in handling and administering the business. In selecting the best people to do the marketing or sales of our very own Splitaw, the proponents agreed that it will be composed of a manager, cashier and production staffs. These individuals generate specialized skills to prepare the business? competitive capability in the market place. *ll these individuals play a big role in the success of the business venture. * osition Title roduction Staff /=1 Bashier Total Bost of abor per unitC
Training and Development
8 >ate per person per day @A< @A<
Training rogram
B*S%I:> E %eFshe will be given the list of price for the alitaws being sold in order for himFher to familiarize those. olicies and rules governing the business will be taught to himFher. Greeting spills will be maintained to every possible customer who purchases the product. %andling of possible problems that may exist during the operation will be discussed with himFher to cope with such. 9aintenance of cleanliness within the vicinity will be left under thisFher care. >HD(BTIH ST*)) E There will be a discussion for the possible suppliers of the raw materials in the production. )lavors, design and presentation of the product will be appointed by the owners. *ny suggestion for the betterment of alitaw will be conversed with the management.
