Product: re-ECO Bag

Members:

Cirineo, Camille Frank

Doria, Jhea Mae M.

Encarnacion, Jahmie

Martin, Isabella

Mateo, James David

Oasin, Maria Nicole

MARKET ANALYSIS

A. Location

The re-ECO Bag will be situated at Downtown Public Market along F. Tañedo Street,

Tarlac City, Tarlac.

B. Historical Background

In 2019, Mayor Cristy Angeles, the Mayor of Tarlac City, strictly bans the use of styrofoam

and plastic in Tarlac City under City Ordinance No. 018-09 for all vendors and eateries. People

who are caught using the aforementioned packaging will be fined Php 1,000 for the first

infraction, Php 2,000 for the second, and Php 5,000 for each subsequent crime. Businesses are

urged to use other packaging that is not made of plastic or packaging that is eco-friendly since

plastic and styrofoam are prohibited.

C. Demand Status
 Today’s businesses recognize that they cannot attract the interests of all customers in the

market place, or at least not to all customers in the same way as they have different needs and

wants. Re-ECO Bag also acknowledges this and that every customer is potentially a separate

market. Thus, the business prepared a market segmentation in order to identify the target

market of the business.

From the conducted market segmentation, the business concludes that the target market of

Re-ECO Bag will be the household that always goes to town to buy vegetables, fruits, fish,

etc., with no specific age or gender.

Table 1. Respondents

RESPONDENTS NO. OF RESPONDENTS

Households in Tarlac City, Tarlac. 100
Table 1 shows the respondents as the representatives of the target market of the

proposed business. The proponents interviewed 100 households in Tarlac City, Tarlac.

Figure 1. No. Of respondents who said they are willing to buy the product.

Figure 1 shows the result of the survey. Based on the survey conducted, 100% of the

respondents are interested to buy eco bag from the proposed business.
 The projected average monthly household income is Php26,400 based on the 100

respondents that are residing in Tarlac City, Tarlac that we’ve interviewed.

D. Supply Situation

Upon visiting the city public market, where we did an Environmental Scanning, we saw

only one seller of eco bags, and the materials used to make the eco bags the vendor sells are

different from ours. The eco bag sold by the vendor is made from a sack while the one we have

is made from old used clothes. In this case, there is an opportunity and chance here in venturing

our business.