Business-Plan Marketing [PDF]

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INTRODUCTION DESCRIPTION OF THE BUSINESS Veggie Company produces a product that would help the community especially children. The business is a form of partnership under the aspiring owners namely Angiely Berou, Kharen Brua and Dhapnie Cabatingan. Veggie Company recognized that most children are ignorant and not fan of vegetables. The company has come up with the idea to create a product for our target market those who don’t like to eat vegetables and not knowing that they will be able to eat one of them. It is indeed has a place in the market wherein our product provides health benefits and reduce the rate of health problems.

LOCATION OF THE BUSINESS In placing our business, we must consider first where would be our target market mostly goes. This place would be very favorable since our target market were those students in this school. Veggie Company is located at University of Cebu Lapu-Lapu and Mandaue in A.C. Cortes Avenue, Looc, Madaue City.

Figure 2: Location of the Proposed Business 1

FUNDING REQUIREMENTS AND SOURCES OF FUNDS Funding Requirements Facilities Costs Equipment

Costs PHP 100,000 PHP 200,000

Supplies and Advertising Utilities Costs Salaries Costs Total Funding

PHP 60,000 PHP 30,000 PHP 200,000 PHP

Requirements

590,000

Use To add extra feature. Tools to make the

Sources of Funds Owner Savings Owner Savings

product. For product promotion. Provision for electricity. Employees’ salaries.

Home Equity Owner Savings Loan Company

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EXECUTIVE SUMMARY

VISION  Market sustainability  High quality standard of product  Create an inseparable relationship with customers

MISSION  Maintain the business socially and environmentally responsible.  Free from product deficiencies or defects.  Influence customer to purchase the product for repeat business.

GOALS  To ensure that the products and services cause no unnecessary harm in the community.  To meet the customer’s needs and wants.  To give customer satisfaction and ask feedbacks to keep the inseparable relationship with customers.

OBJECTIVES  Ensure to avoid detriment of products and services towards the customers.  Provide high quality standard of product and avoid harmful activities that would affect the product quality.  Develop relationship with the customer to gain customer satisfaction.

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BUSINESS MODEL In opening a new business the innovation and competitiveness should always be present. Veggie Company will execute the product by offering it to the community because we ensure to them that our product is eligible by the customers. We offer innovative product because it hasn’t been done before. A churro with vegetables inside is such a mood that every people want. Our business will have a competitive advantage in the industry since we make a churro that is new and unique unlike other churro that was just ordinary. This veggie churro gives a lot of importance to our customers because of the health benefit they can get.

BUSINESS AND PRODUCT POSITION Veggie Company will be placing the business outside the UCLM premises considering the size of our target market. The target market will be the pupils and students in the said university. Our company emphasizes the benefits that our customer can get when purchasing our product and that would be a healthy and nutritious churro. Our product is different from other churro since it was mixed with vegetables. It makes our product competitive in the market because we’re the only business sells a churro with veggies.

WEALTH & IMPROVEMENT APPROACHES Competitor in the industry is always there and it’s hard to avoid them particularly when someone wants to copy the product you’re selling. In order for our business to have wealth improvements we will maintain the competitive advantage against the competitors by showing to them that our product has a lot more benefits than them. The market position 4

really suites with the product we offer because a bunch of students will surely purchase our product especially when they’re craving and hungry. Veggies company will continue to serve the customers whole-heartedly without hesitations. We strongly need feedbacks and suggestions from consumers so that we’ll improve more as our business grows.

PARTIES SUPPORTING THE BUSINESS These individuals are the one who strongly supports the business. Without these parties our business would be impossible to create.  Consumers Without the consumers our business wouldn’t be possible. Consumers are the one who strongly supports our business because they’re the one who purchases our product. The company provides satisfaction to them that makes our product known to everybody.  Creditors The creditors are the one who helps us build our business and they possibly our business’ source of funds. In every business it is a must to have creditors to create your desired business.  Suppliers Every business needs a supplier to provide the company’s needs. It must be difficult for us without our providers. The product can thrive if there are a lot of supplies. More supplies, more products and more sales.  Employees and Staffs The employee and staffs are the one who provides service to our customers. In 5

behalf of the owners, employees and staffs use their time to offer service to customers and the product that the company have.

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ENVIRONMENTAL ANALYSIS TREND IN THE INDUSTRY Today’s trend children are most likely to eat sweets and finger foods because they think that it’s for them to get the product. In creating our business, our company will ensure that our product will be related on what’s trend in the industry. Since it’s the trend today for children, we innovate a product that will fit to children’s taste specifically the sweetness of the churro. Children are not just getting the sweetness they want but also having a veggielicious and nutritious churro.

CONSUMER ANALYSIS Our business will be located at University of Cebu Lapu-Lapu and Mandaue in A.C. Cortes Avenue, Looc, Mandaue City. The said place is populated with 25% kindergarten pupils, 30% elementary students, and 45% highschool students. With the 25% kindergarten pupils, 50% are male and 50% are female. The male and female that has 50% each population were composed also of 50% 5 years old and 50% ages 6 years old. With the 30% elementary students, 45% are male and 55% are female. The said population of male were composed of 35% 7-9 years old and 65% 10-12 years old. For the female population there were 40% 7-9 years old and 60% 10-12 years old. Lastly, with the 45% highschool students, 50% are male and 50% are female. The male population has 30% 13-16 years old and 70% 17-18 years old. For the female population there were 40% 13-16 years old and 60% 17-18 years old. By this, we can say that our target customers are from the pupils and students of UCLM specifically from the kindergarten to highschool level regardless of what gender and age. 7

COMPETITOR ANALYSIS Promoting your business without knowing your competitor is vulnerable because you will not be given an idea on how to compete against them. Our company has no direct competitor but we have some indirect competitor. One example is the finger foods sold from different stalls such as pastry foods and junkfoods. Our churro is different from their product because ours contains vegetables that are nutritious at the same time the quality we offer. Their products were just ordinary, they don’t have vegetables in it means they are not that very careful to their customers and won’t get a single amount of health benefits. The advantage of our product is its uniqueness. The pupils and students will be attracted because it is new for their taste and very suitable for them.

MARKET FORECAST Finger food products, such as our carrotato pumpchus will be markegted to a tropical climate which is the Philippines. It is a must have finger food product that people always want especially when they’re hungry and want something to grab. This product is suitable to a country like Philippines whether its rainy or sunny season. It will be located at the University of Cebu Lapu-Lapu and Mandaue. Pupils and Students are the company’s target market for the product to be known in every other fellow students.

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MARKET SHARE In the proposed location of the stall of our company which is the Veggie Compnay. There aren’t some businesses selling the same product as ours but there are some businesses that sell products for snacks or finger foods. The stall selling pastry foods has dominated with the market share of 65%, the stall selling junkfoods has 20% market share. We, Veggie Company has a market share of 15% since we are new entrants starting to create our food business.

MARKET POSITION The tropical climate in the country is suitable for our product so the Veggie Company will position the business outside the school premises in UCLM. So that, it would be easy for them to grab and buy our product. The company would be very glad to serve these pupils and students during their break, lunch and after class. Veggie Company will have a better chance to keep the business growing with the help of our market position plan.

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MARKETING STRATEGY Veggie Company focuses on core product because the company concentrates on giving benefits than making its physical characteristics. We provide good quality product not just on the benefit our customer gain but also its packaging and how it looks. For the price our company choose perceived value pricing. We will make sure that are product tastes good enough so that our customer will be determined and willing to pay about what they feel when attaining our good. Veggie Company is a retailing company. It involves the sales of goods directly to the final customers. The company promotes awareness and interest of the goods in an effort to generate sales to customers. The goods will be sold in food courts and outside the school. Our company uses advertisement as a way to bring product to the attention of potential or current customers. We promote our product through advertising to influence the buying behavior by focusing creative positioning and media. Through this, advertising spreads awareness about what the company has to offer.

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BUSINESS DESCRIPTION PRODUCT DESCRIPTION Our product is Carrotato Pumpchus, it is a churro mixed with vegetables such as carrots, potato, and pumpkin. It is to provide healthy snacks for pupils and students because it is made of nutritious vegetables that suits the taste of the consumer and also for the children. It will suit to their budget as well. We’ve come up with the name Carrotato Pumpchus because we combined the name carrot and potato in results to the name ‘Carrotato’. Pumpchus comes from the name pumpkin and churros as well.

EQUIPMENT/MATERIALS NEEDED        

Non-Stick Pot Stainless Pot Spatula Piping Bag and Nozzle Chopping Board Knife Tong Strainer

      

Potato Carrot Squash or Pumpkin All-Purpose Flour Evaporada Milk White Sugar Butter

SIZE OF THE BUSINESS The business is considered a small enterprise, locating at the exterior part of UCLM school. The rental area includes a place for making the product. Since our business will be place around the area outside UCLM, it includes chairs and tables to service the customers. 11

There will be four workers hence it is still manageable. The store will be operating from Monday to Friday since the students have classes on the said weekdays. The company won’t be opening the store on Saturday since the students on that day are few unlike for the weekdays.

PERSONNEL REQUIREMENT In order to have a successful business, we need to hire people who are committed and productive. Personnel or employees are hired to provide service to our customers. These persons are responsible in creating our product, giving service to the consumers, and guiding them to avail the product. When employees are assiduous in their work, there’s a big possibility that the connection of the business and to them will collide. Product Workers  Young approximately 18-28 years old  Senior high school/ College graduate  Have a pleasing personality, loyal and diligent Cashier  Senior high school/ College graduate  Have a basic knowledge in Mathematics  Have a pleasing personality, approachable and accomodating Sales Personnel  Young approximately 18-28 years old  Senior high school/ College Graduate 12

 Have a pleasing personality, hospitable and accomodating Selling and Administrative Manager  Has a bachelor’s degree in Business Administration  Young approximately 20-35 years old  Has a skills like communication skills, analytical and leadership

ORGANIZATIONAL PLAN

FORM OF BUSINESS ORGANIZATION 13

The business is a form of partnership under the aspiring owners namely Angiely Berou, Kharen Brua and Dhapnie Cabatingan. The owners of a partnership have invested half of their funds and time in the business, and share proportionally in any profits earned by it. The partnership income tax is paid by the partnership but its profits and losses are divided among the partners and paid by the partners based on their agreement.

LIABILITY OF THE OWNER In a general partnership, each partner has unlimited personal liability. Partnership rules usually dictate that whatever debts are incurred by the business, it is the legal responsibility of all partners to pay them off. All partners are responsible for paying the debts, further in many states partners are held severally liable. This means that if the partner who signed the bad contract can’t afford to pay it. But another’s can the judgement will come out of the other partners pocket. If you are the other partners, your percentage of ownership will not affecr of the judgement.

ORGANIZATIONAL STRUCTURE

DHAPNIE CABATINGAN

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ANGIELY BEROU

KHAREN BRUA OWNER

OWNER

THIEZA YBAÑEZ SELLING AND ADMINISTRATIVE MANAGER BLANCO AND DEJITO SALES PERSONNELS COLLEEN MACIAS CASHIER

PRODUCTION WORKER

PRODUCTION WORKER

PRODUCTION WORKER

PRODUCTION WORKER

ROLE OF THE OWNER As a role of business owner, you can have a lifestyle of freedom and flexibility not affected to an employee. However, being a business owner also carriers greater responsibility with many more task to judge. The educational status is aslso a requirements 15

and experiences required of the workers must also be specified. As a business grows, so do it’s hiring needs to accommodate more service and faster equipment and hiring employees.

PROPOSED SALARY The business will not be organized without the human resource in efforts. The proposed salary for the employees is the minimum wage of Php 386 per day with a working hour of 8 hours. Each employee has its own responsibility to accomplish. The owners of the company will receive a fair share of 10% profit since the owners invested their own money to run the business. The business won’t work without these employees.

PRODUCTION PLAN

PRODUCTION SCHEDULE Business entrepreneurs use their time effectively in order to gain profit. Our business will 16

be open from 9 am- 6 pm, from Monday to Friday. We will start producing our product by batch depending on the customer’s demand and 500 pieces a day will be made. The stall will be opening from 9 am because it is the time when students want some snacks. Our stall will be closing at 6 pm and ends our working time.

PRODUCTION PROCESS Carrotato Pumpchus will surely click to the customer’s taste with its sweetness. It is a bit hard to create the product but we will make sure we’ll teach the easiest process. First, peel the three main recipe which are the vegetables such as the carrots, potato and pumpkin and set them to boil using the stainless pot. While the vegetables are boiling, in a pan combine water, sugar and melted butter. Stir to dissolve sugar and bring to boil then remove from heat. When the vegetables are already soft, smash it using spoon. Next, add flour, evaporada milk, and the smash vegetables together into the non-stick pot and mix until it form a dough using spatula. Fill the piping bag fitted with a churro-form nozzle. Pipe strips of dough directly in a heated oil. Heat oil in a pan and deep-fry strips dough until golden brown. Drain in paper towel to remove excess oil. Lastly, coat with condensed milk for best serve.

EQUIPMENT REQUIRED The product will not be made without these equipments like:  Non-Stick Pot – where we mix the ingredients  Stainless Pot – where we boil the main ingredients 17

 Spatula – for mixing the ingredients  Piping Bag and Nozzle – these combo won’t work without the other one for piping the product.  Chopping Board - use for chopping the main ingredients  Knife – for chopping the main ingredients.  Tong – used to get the finished product  Strainer – used for removing excess oil after cooking the product.

SOURCES OF MATERIALS We get the raw materials of our product from our trusted suppliers in Opon Market LapuLapu City, Metro Grocery Store and Unitop. We ensure that we’ve chosen the best and affordable suppliers for a good quality product yet so cheap materials. They give a budgetfriendly price and you’ll receive a high quality products.

ESTIMATED PRODUCTION COST For 2020-2021 Direct Materials ₱ 70,900

Direct Labor ₱ 41,059

Fixed Cost Electricity ₱ 700 Water ₱ 350 Rent ₱ 2,500 18

Tools ₱ 70,900

₱ 41,059 PRODUCTION COST:

₱ 1,500 ₱ 5,050

₱ 117, 009

For 2022-2024 Direct Materials

Direct Labor ₱ 144,800

₱ 144,800

Fixed Cost ₱ 60,455 Electricity Water Rent Tools ₱ 60,455 PRODUCTION COST:

₱ 700 ₱ 350 ₱ 2,500 ₱ 1,500 5,050

₱ 210,305

OPERATION PLAN

EVALUATION OF SUPPLIERS We found some potential suppliers that offer us a lesser and cheap price but gives us a high quality products. Maria’s Gulay who sells fresh and affordable vegetables. Aurelio Baking provides good quality of dry ingredients like all-purpose flour, equipment like piping bag and also butter and sugar. Angel’s Milk who cater us good quality of evaporada milk and condensed milk. As the owner of the business, we will make sure that we have a budgetfriendly suppliers yet so good quality ingerdients and equipments.

PURCHASE PROCEDURES 19

In purchasing the ingredients of our product, we must be vigilant of its expiry date, what does the material made from and for what is it for. We personally go to our supplier to purchase and choose the ingredients we’ll need in making the product. As we purchase the ingredients, we check its label and the availability of the product if it is in good quality. In case the ingredients we want is not available, we will go to another store or supplier to ensure that it is still in the same taste as we wanted.

STORAGE AND INVENTORY CONTROL Every business should make sure that the stocks stores in a comfortable area to have a good quality finished product. The stocks will be put inside the regrigerator like the vegetables, evaporada milk, condensed milk, and butter. While the sugar and all-purpose flour will be stored inside the storage cabinet. To avoid wasting ingredients, we will check the expiry date upon purchasing the ingredient. The excess ingredients should be placed in their specific area so that we’ll be able to use it once again on our next product making.

SALES PROCEDURES New entrants businesses in the industry should be known by the customers especially to our target market. We will let our target market know where is the business located. When customers starting to approach our business we will welcome them and let them take a look of our product. We will also provide brochures about our product with our social media’s account written on it so that they can also visit our page for more updates. On our first day opening, we will be having a soft opening promo means we are going to give 50% discount of carrotato pumpchus in every 10 customers who’ll purchase our product every hour in 20

three hours. By that it may help the business grow and spread to other individuals.

MARKETING PLAN PRODUCT Our company focuses on core product because our business concentrates on giving benefits to our customer than making physical attributes on the product. We make sure that our product look good enough to persuade customer to purchase our product.

PLACE Veggie Company is a retailing company. It involves the sales of goods directly to the final customers. The company promotes awareness and interest of the goods in an effort to generate sales to customers.

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PRICE Our company chose perceived value pricing for our product's price. We will raise the perceived value in customer's mind by giving the best quality and service when selling our product .By doing this, the customer will be willing to pay for our product.

PROMOTION Veggie Company uses advertisement as a way to bring product to the attention of potential or current customers. We promote our product through advertising to influence the buying behavior by focusing creative positioning and media. Through this, advertising spreads awareness about what our company has to offer.

PEOPLE The business won’t work and succeed without the consumers. They’re the one who purchases our product. On our first day opening, we will be having a soft opening promo means we are going to give 50% discount of carrotato pumpchus in every 10 customers who’ll purchase our product every hour in three hours. It will be the business’ strategy to gather more customers and a possibility that the business will be known.

PACKAGING Veggie Company don’t just think about the taste of our product but we also consider the beauty of our packaging. The quality of both the product and quality of the packaging are based on how the product will click to the customer’s choice. We made a packaging that 22

would catch the eyes of the customer so that they will be persuade to purchase it.

POSITIONING In our business we occupy a place that is desirable to our target market. The store will be place outside the UCLM since our target market are the kindergarten, elementary and highschool. Our company will be favorable in that area with a bunch of target market we’ll cater.

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