You are on page 1of 7

Objectives of Market Study

In establishing a business, it is an essential means to identify 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 and selling products in the target market along with giving services.
Identifying whether the product will satisfy your customers and if there are still
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 and formulates the procedures and marketing programs of the
business.
Splitaw is in line with food industry specifically kakanin that vend bite-sized
Palitaw. 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 5
to 50 years of age because of the establishments surrounding the store such as
schools, baranggay hall, terminal and by-passers. The competitive edge of
Splitaw from the current kakanins is its affordability and innovative savor. The
proponents make sure that the palitaw balls are freshly made and the flavors are

just superb that every customer cant resist purchasing it over again. Having a
cheaper price does not imply low quality 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
questionnaires. The survey will be conducted by providing structured
questionnaires to a number of identified respondents from the students of
Polytechnic University of the Philippines. The participants who were asked to
evaluate our product were randomly selected from identified respondents.
Demand

***

Supply

***

Demand & Supply Gap and Demand & Supply Analysis

***

Target Market

Splitaw wants to distress the purchasing influence of most of the Filipinos


as its offers an affordable price with a different twist. At all ages is the target
market of our product, male or female, professional or not. Also one of our major
target markets will be the elderly, ages 35 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 (5ps Of Marketing)

The Product
In every business, the quality 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.
Let us introduce to you our product named, Splitaw, the combination of
the word split and palitaw. (Split it, at sarap ay lilitaw!) This is not the usual
and plain palitaw that people have known. We thought of making our product
more attractive and a bit fancy by having two variation of fillings: yema and
pastillas. We also top it with sesame seeds and drizzle with condensed milk and
chocolate syrup. Yema is the Spanish term for egg yolk which is intensely rich
and similar in texture to the French crme brle and popularly wrapped in
colorful cellophanes. As with a lot of other things in our multicultural heritage,
whether yema is entirely Filipino or Spanish in origin remains to be conclusively
proven. But it is said before that a famous Spanish convent already produced a
very similar delicacy. While the Spanish cognate pastilla, is used to describe
various non-medicinal items. It is also the name given to a traditional Moroccan
squab (pigeon) pie. Both delicacies can be purchased from sari-sari stores and
some groceries. So, we combined all these famous Pinoy desserts in one.

Packaging

***

Pricing
The prices of Splitaw will be dependent on how the market price of the
main ingredients is. Each palitaw will cost from 8-12 pesos based on the expense
of the ingredients used. Any change of the price of the Palitaw will be taken into
consideration to the factor that measures consumers capability to purchase the
product.
Place Of Distribution

***

Promotions

This is the ultimate objective 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 Media - Splitaw will have its own Facebook 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

also serve as a communication media where they can place their orders.
Word of Mouth - 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.

PEOPLE
Human Resource 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. All these individuals play a
big role in the success of the business venture.
A
Position Title
Production Staff (2)
Cashier
Total Cost of Labor per unit*

Training and Development

B
Rate per person
per day
P491
P491

Training Program

CASHIER He/she will be given the list of price for the Palitaws being sold in
order for him/her to familiarize those. Policies and rules governing the business
will be taught to him/her. Greeting spills will be maintained to every possible
customer who purchases the product. Handling of possible problems that may
exist during the operation will be discussed with him/her to cope with such.
Maintenance of cleanliness within the vicinity will be left under this/her care.
PRODUCTION STAFF There will be a discussion for the possible suppliers of
the raw materials in the production. Flavors, design and presentation of the
product will be appointed by the owners. Any suggestion for the betterment of
Palitaw will be conversed with the management.