Chapt

er3

MARKETI
NGSTUDY

Thi
s chapt
eri
dent
if
ies t
he pr
ocess ofgat
her
ing,anal
ysi
ng and i
nter
pret
ing

i
nfor
mat
ionaboutt
hemar
ket
,aboutt
hepr
oductt
obeof
fer
edf
orsal
esi
nthemar
ket

and aboutt
he past
,pr
esentand pot
ent
ialcust
omerf
ort
he pr
oductorser
vices

under
standt
heneedsandwant
sofexi
sti
ngcust
omerandwhyt
heychoosey
our

pr
oductov
ercompet
it
ors.I
thast
hepot
ent
ialofchangi
ngori
nnov
ati
ngofapr
oduct

basedont
hegr
owt
hofourpr
oductsal
es.Andwel
l
-inf
ormedmar
ketdeci
sionsabout

t
hepr
oduct
sandser
vicest
odev
elopef
fect
ivest
rat
egi
es.

Mar
ketSegment
ati
on

Thepr
oposedbusi
nesswi
l
lfocusonr
eachi
ngt
hecust
omerspeci
fi
cwant
sand

need al
so t
ail
ori
ng t
he mar
ket
ing mi
xto mor
eindi
vi
dualconsumerneeds.I
tis

necessar
ybecausei
nmostcases,
buy
ersofapr
oductoraser
vicear
enohomogenous

gr
oup.Thet
abl
ebel
owshowt
hepr
ofi
l
eoft
her
espondent
s.

DEMOGRAPHI
CSEGMENTATI
ON

Tabl
e6.Pr
ofi
l
eofRespondent
sint
ermsoft
hei
rGender

Gender Fr
equency Per
cent
age%
Mal
e 58 58%

Femal
e 42 42%

Tot
al 100 100%

Tabl
e7.Pr
ofi
leofRespondent
sint
ermsoft
hei
rAge

Age Fr
equency Per
cent
age

10-
15 20 20%

16-
20 50 50%

21-
25 30 30%

Tot
al 100 100%

Thet
abl
e6and7abov
eshowst
hedemogr
aphi
csegment
ati
onwhi
chi
sthe

genderandageoft
hepot
ent
ialcust
omer
sandanypeopl
ewhowi
l
leatt
hel
umpi
any
a

andt
hosepeopl
ewhoar
econcer
nedwi
tht
hepr
oductof
ferwhi
chi
spsy
chogr
aphi
c

segment
ati
on.

Mar
ket
ingPr
ogr
am

Asuccessf
ulbusi
nessdur
ingpr
ogr
am begi
nswi
tha“f
oodf
ir
st”.Phi
l
osophy
,

f
ocusonser
vingwhol
esome,gr
eatt
ast
ingandheal
thyf
oods.Ourmar
ket
ingpr
ogr
ams

bui
l
d upont
hissi
mpl
epr
emi
sewi
thexci
ti
ng,t
arget
ed communi
cat
ionand speci
al

pr
ogr
am.

Manyst
udent
sar
eseeki
ngf
ordel
i
ciousandheal
thyf
oods.Theser
viceofour
busi
nesswi
l
ldedi
cat
etogi
veaqual
i
tyser
viceandat
tent
iont
hatcanr
elyonf
inalt
ast
e

andal
sopr
ovi
dingagoodj
obt
otheey
eoft
hemar
ketandschool
.

Tar
getMar
ket

Tar
getmar
keti
sdet
ermi
ningy
ourt
argetmar
ketwi
l
lhel
pyoucr
aftmar
ket
ing

st
rat
egi
est
hatwi
l
lgi
vey
ouahi
ghr
etur
noni
nvest
menti
ncl
udi
ngwhi
chdi
str
ibut
ion

st
rat
egi
es-bei
tast
oref
ront
,far
mer
.Mar
ketboot
h,whol
esal
eaccountet
c.-ar
ebest

f
ory
ourbusi
ness.

Ourpr
oductnamewas"
lumpi
any
a"basi
cal
l
yknownasl
umpi
aforonl
y10-
25

pesos.Our"
li
umpany
atagt
ipi
d"i
swor
thof10pesoswher
ethei
ngr
edi
ent
sisonl
y1

pi
eceofeggandv
eget
abl
e,ournextl
i
umpany
amenui
sthatwhatwecal
l
ed"
Lumpi
any
a

Hakdog"wher
ethei
ngr
edi
ent
sar
e1pi
eceofegg,v
eget
abl
eandhot
dogf
oronl
y15

pesos,nextmenui
swhatwecal
l
ed"
Liumpany
aCheatDay
"wher
ethei
ngr
edi
ent
sar
e

v
eget
abl
e,1 pi
ece ofegg,and l
onggani
sa f
oronl
y25 pesos and l
ast
lyourl
ast

l
i
umpany
amenui
swhatwecal
l
ed"
Liumpany
aSecr
etMenu'
wher
ethei
ngr
edi
ent
sisa

secr
etbutt
hecl
ueoft
hismenuwast
hisst
atement
"Mapapal
uhakasasar
ap"
.Most

peopl
ecanaf
for
dtobuymor
e.Wemakesur
ethatourcust
omer
smaket
hemsel
vesf
eel

goodandsat
isf
iedi
nourpr
oduct
.Youhav
etounder
standwhoi
syourt
argetmar
ket

bef
orey
oust
artabi
gmar
ket
ingdeci
sionwhi
chi
ncl
udesy
ourbusi
nessnameand

sl
ogan.Fi
gur
ingoutwhomakesupy
ourt
argetmar
keti
satt
hecar
eofsuccessf
ulsmal
l

busi
nessmar
ket
ingst
rat
egi
es.

Ourpr
oducti
sthatt
hemai
ningr
edi
ent
sar
e"car
rot
s,gabbage,chi
l
i,wr
apper
,

hot
dogandl
onggani
sa"
,itwi
l
lbesal
eabl
eint
hest
udent
s,most
lyt
heJuni
orHi
gh

Schoolwhol
ovel
umpi
aandt
heempl
oyeesspeci
fi
cal
l
ythet
eacher
sinPangasi
nan
St
ateUni
ver
sit
yBay
ambangCampus.Theywi
l
lbet
heonewhodi
str
ibut
ethepr
oductof

t
hebusi
ness.

KeyPl
ayer
sandCompet
it
ors

Thekeypl
ayer
sar
ethebusi
nessowner
sandcust
omer
s.Thesekeypl
ayer
s

pr
ovi
det
hei
deat
opr
ogr
essandenhanceourbusi
nesspr
oductl
i
umpany
a.Keyowner
s

ar
ether
esponsi
blef
ort
hecust
omer
’ssaf
etyandsat
isf
act
ionf
ort
hispr
oductt
omake

t
hebusi
nessst
andl
onger
.St
udent
s’ages10-
25y
ear
sol
dar
ever
ypi
ckyi
nter
msof

f
ood.Someoft
hem hat
esv
eget
abl
esandt
heypr
efert
oeatmeatorf
rozengoods.The

pr
oposebusi
nessmustbeawar
eoft
hei
rcompet
it
orsmov
e;i
nthatcaset
heowner
s

cant
hinkbet
terst
rat
egyt
omaket
hei
rpr
oductbet
terandi
nnov
ati
vei
nthemar
ket
.

Mar
ket
ingSt
rat
egy

Mar
ket
ingst
rat
egyi
sal
ongt
erm-
for
war
dlooki
ngappr
oacht
opl
anni
ngwi
tht
he

f
undament
algoalachi
evi
ngasust
ainabl
ecompet
it
iveadv
ant
age.Dev
elopmentofa

successf
ulmar
ket
ingst
rat
egyi
sani
mpor
tantst
epf
oranysmal
lbusi
ness.

1.Cust
omer
-Focused.Tocr
eat
eagoodbusi
nesspr
ofi
l
e,t
hepr
oposedbusi
nessshoul
d

appl
ythechar
act
eri
sti
cst
obecust
omer
-f
ocusedandappl
ythesoci
alr
esponsi
bil
i
ty.

2.Pr
oductSt
rat
egy
.Thebusi
nessmakessur
ethatt
hepr
oduct
swi
l
lbecl
eanf
ort
he

saf
etyandbenef
it
soft
hecust
omer
s.

3.Pr
omot
ionalSt
rat
egy
.Bef
oret
hebusi
nessst
art
stooper
ate,t
hemanagementwi
l
l

postbanner
s,di
str
ibut
efl
yer
sandpost
ingt
hroughoursoci
almedi
apagesf
ori
nfor
ming

peopl
einsi
deandoutofPSU-
BCaboutt
hebusi
ness.

Tabl
e8.Bi
ggestCompet
it
orsofaLumpi
any
aBusi
ness
 Br
and Feat
ures

Br
andx Lumpi
amadeofgabbageandcar
rot
s.

Br
andy Lumpi
amadeofi
ntest
ineofchi
cken.

Br
andz Tr
adi
ti
onall
umpi
a-made of gabbage,car
rot
s,

beansandt
oomuchofpowderseasoni
ng.

Fi
gur
e3

Mar
ket
ingMi
x

Pr
oduct

Lumpi
any
aisf
ormul
atedt
opr
omot
eandshowcaset
hepowerofv
eget
abl
es

whi
chi
sri
chi
nVi
tami
nCandeggwhi
chi
sri
chi
nPr
otei
n.Thenut
ri
ti
onall
umpi
ais

meantt
omakeev
erycust
omer
sheal
thyandf
oodconsci
ous.Thel
umpi
any
aai
mst
o

t
ransf
ormt
heor
dinar
ylumpi
atoanut
ri
ti
ousandheal
thyone,ev
ery
onecoul
deatt
he

l
umpi
any
awi
thegganddi
ff
erentt
oppi
ngsespeci
all
yst
udent
s.Theywi
l
leatmor
e

becauseasi
def
rom at
tract
ivei
twi
l
lhel
pthosepeopl
ewhowant
edt
odi
et.

I
ngr
edi
ent
s:

1Egg Php5

Or
angeWr
apper Php10

1ki
l
oofCar
rot
s Php25

2pcsofgabbage Php25

1ki
l
oofbeans Php30
 IpackofCheesedog Php37

1packofLonggani
sa(madeupofChi
cken) Php40

Chi
l
i Php10

Sal
tandpepper- Php15

Veget
abl
eOi
l- Php20

10Gl
ovesofGar
li
c– Php5

5Oni
ons- Php10

Tot
alPr
ice: Php227

Pr
ice

Thepr
oposedpr
oductwi
l
lbesur
elyaf
for
dabl
ethant
hecasuall
umpi
abecause

ofi
tsmai
ningr
edi
entwhi
chi
sveget
abl
es.Thenoncepr
oposedpr
oducthasbeen

popul
arandwel
l
-known,
thef
ir
m maywel
li
ncr
easet
hepr
iceupt
o15-
30pesos.

Tabl
e9

Compet
it
orsPr
ice

Br
and Pr
ice

Br
andX ₱5-₱15

Br
andY ₱5-₱10

Br
andZ ₱10-₱20

Pl
ace

Thepr
oposedpr
oductdeci
dedont
hebestl
ocat
ionwher
eini
tisl
ocat
edatt
he
schoolpar
ti
cul
arl
y atPangasi
nan St
ate Uni
ver
sit
y,Bay
ambang Campus,and t
he

l
ocat
ioni
sidealandper
fectf
ort
hest
udent
sandt
eacher
.Wef
ormul
atedt
hepr
oduct

speci
all
yfort
heJuni
orHi
gh SchoolSt
udent
saged of(
10-
15)y
ear
sol
d,and t
he

empl
oyeesi
nPSU-
BCspeci
fi
cal
l
ythet
eacher
s.Ev
ery
onecant
ryt
oeatt
hedel
i
cious

Lumpi
anda,Hi
ghSchoolst
udent
s(13-
19)y
ear
sol
d,col
l
egest
udent
s(20-
23)y
ear
sol
d,

andt
othet
eacher
saswel
laswesai
dabov
e.Wewi
l
lfi
rsti
ntr
oducet
hepr
oductt
oPSU

BC,
andt
henoncet
hepr
oducthasbeenpopul
arandwel
lknown,
thef
ir
m cani
ntr
oduce

t
hepr
oductt
oot
herpar
tsoft
heBay
ambangTownaswel
l
.Wer
esear
cher
s,f
rom

Pangasi
nanSt
ateUni
ver
sit
ywantt
oenhanceandi
mpr
ovet
hef
oodt
hatweusual
l
yeat

i
ntoamor
enut
ri
ti
ousandaheal
thyone.

Pr
omot
ion

Thekeyel
ementt
oputupt
hebusi
nessandpr
oducti
stopr
omot
ethemai
n

i
ngr
edi
entwhi
chi
sthev
eget
abl
eandt
ohi
ghl
i
ghti
tspur
posewhi
chi
stomakeev
ery

cost
umerheal
thconsci
ousandnut
ri
ti
ous,t
oal
soi
ncr
easet
hepr
oductawar
enessand

t
ogai
nbuy
ersandpr
ofi
tsaswel
l
.

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