Special Suman - Determine the Feasibility of a Proposed Product in the Marketplace
Essay by alaicaaltezo • April 25, 2018 • Thesis • 16,935 Words (68 Pages) • 3,895 Views
Essay Preview: Special Suman - Determine the Feasibility of a Proposed Product in the Marketplace
Chapter I
Executive Summary
Brief Description of the Project
This study is conducted to determine the feasibility of a proposed product in the marketplace. Special Suman is a Filipino breakfast or snack perfectly with a hot chocolate or coffee into one delectable treat. The proposed study will engage in producing and selling special suman like a plain suman, chocolate filling suman and fried suman with cheese in Dagupan City.
Brief Profile of the Entrepreneurs
The young entrepreneurs behind this study are Lovely Theresa Suquitan from Dagupan City, Pangasinan and Mary Grace Z. Segundo from Lingayen, Pangasinan. They are both students in Lyceum-Northwestern University taking up Bachelor of Science in Business Administration Major in Marketing Management. Considering that they’re both business students, they will be able to manage the proposed project herein and the knowledge the acquired is sufficient to operate a business.
Project Contribution to the Economy
The proposed business aids our local and national government in fulfilling their projected developments in our country through our taxes remittances. It also help to increase the employment rate because it provide job to the people.
Business focuses not only in generating income but also considering the social responsibility and economic benefits that will contribute to our nation.
Project Background and History Rationale
The proponents want their valued customers to experience a unique and matchless special suman that will give satisfaction not only to adults but also to young ones. Special suman is a major part of Filipino food and delicacies. It is commonly being shared or given as a gift or “pasalubong”. Suman is a part of Filipino cuisine and can be eaten as a breakfast meal, snack or even during fiestas and Christmas celebrations.
Suman is a rice cake originating in the Philippines. It is a made of glutinous rice cooked in coconut milk, often wrapped in banana or coconut leaves. It is usually eaten sprinkled with sugar or laden with “latik”. Suman is also known as “budbod” in the Visayan language that dominate the central half of the country.
Proposed Name of the Business
LG’s Special Suman will be the registered name of the business. The proponents noticed that most of the business names are constructed by combining the name of the entrepreneur and product or service they rendered. The partners decided to put the first letter of their names in the business, for the customer to easily remember the delightful special suman.
Type of the business Organization
It is a partnership form of business, specifically a general partnership, wherein the proponents aim to earn profit. Profits and losses are to be equally distributed to each partner. Both shall be active in the operation of the business and have their duties and responsibilities according to their personal expertise and abilities. Lovely Theresa D. Suquitan and Mary Grace Z. Segundo are the partners of the general partnership that will be established.
Location
The proponents believe that the business location is one of the important key of the company’s success. However, choosing the best location means taking into account a number of factors. The impact of location, for the proposed business, facilities and resources needed. The proposed business will be located in Dagupan City, Pangasinan. The location will be accessible to the customer as well as to attract new ones because it nears the establishments, school and universities.
CHAPTER II
MARKETING PLAN
Description of the product
Suman is the most common native cake or rice cake. It is a combination of cooked glutinous rice in coconut milk with sugar, and wrapped by leaves or palm leaves resulting to a light milky delicacy. It has an absolute sweetness that no one can ever resist. The milky taste of glutinous rice either fried or not, and the sweetness of sugar or chocolate or cheese whichever the customer’s wants is a perfect match to eat anytime and anywhere.
LG’S Special Sugar Suman is made to satisfy the needs of our customers for delicious sweet foods and provide them to nutritional treat for such an affordable price.
Comparison of the Product with its Comparison as of 2018
Table 2.1
LG’s Special Suman | Direct Competitors | Indirect Competitors | ||
A | B | C | ||
Product | Suman | Suman | Biko with Latik | Suman Muron |
Price | P 10 | P 10 | P 10 | P 10 |
Flavor | -Plain -Fried with Cheese -Chocolate filling | Ordinary | Ordinary | Ordinary |
Comparison of the Product with its Competitors
The 2.1 shows the comparison of LG’s Special Suman to its competitors. The data as seen on the table were based on the interview and research, through internet conducted by the proponents.
Location
The proposed business will be located at CSI the City Mall District Dagupan City. The business is exactly located at the food court of the said mall. The proponents have decided to put up the proposed business in the said location due to its popularity demand when it comes to commercial center.
Marketing Area
The Municipality of Dagupan is composed of 31 barangay but the market area of the proposal business covered only the CSI the City Mall where the business is located. The researchers floated the following questionnaire in the said market area. The researchers float questionnaire by the use of ratio.
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