CHAPTER III

MARKET STUDY

This chapter deals on analyzing the data gathered from the chosen respondents of

the researchers. It focuses on the sections such as target markets, demand, supply, gap

analysis between demand and supply, competitive analysis, market share, projected sales

and market strategies of the proposed business.

OBJECTIVES OF THE MARKET STUDY

1. To determine the target market of the proposed long green bean nuggets.

2. To describe the market acceptability of long green bean nuggets.

3. To determine the projected supply for long green bean nuggets.

4. To determine the projected demand for long green bean nuggets.

5. To determine the projected sales of long green bean nuggets.

6. To analyze the market gap in long green bean nuggets.

7. To propose a realistic marketing strategies to meet the sales projection.

8. To develop and implement the market study.

Demand is an economic concept that describes a consumer's desire to buy

products and services as well as his readiness to pay a price for them. It is the engine that

drives economic growth and expansion. Businesses would cease to exist if it were not for

it.

Major Consumption of the product (Target Market)

(Meaning of Target Market)

The target markets of the long green bean nuggets are the residents of Lucena

City aged 5 years old and above.

Consumption for the Past Five Years

Projected Demand
SUPPLY

Supply is a fundamental economic concept that describes the total amount of a

specific good or service that is available to consumers. Supply can relate to the amount

available at a specific price or the amount available across a range of prices if displayed

on a graph (Kenton, 2021).

Volume of Production for the Past Five Years (Imported or Locally produced)

Projected Supply

COMPETITIVE ANALYSIS

The company's top concern is the consumer's health as well as their satisfaction.

The goal of Sitaw Nuggets is to produce delicious and healthful meals that everyone may

enjoy. Despite the fierce rivalry among multiple businesses selling the same product

category, the product will be introduced with high quality and innovation in order to

reach the market.

Direct Competitors

The direct competitors of Sitaw Nuggets are those business that produce industrial

nuggets. Listed below are the Brands and Company that are leading in this industry:

 Food Sphere Inc. - CDO

 Century Pacific Food Inc. – SWIFT

 ConAgra Foods – BANQUET

 Country Pride – Chicken Nuggets

Comparative Analysis of Direct Competitors

Parameter Sitaw Nuggets Competitors

Taste  Unique  Good

Appearance  Ordinary  Ordinary

Price  Relatively low  Relatively high

Health  Higher Protein  Provide vitamin B

 May improve digestive  Protein

health disease

 Fewer Calories

Based on the table, Sitaw Nuggets have a relatively better taste, appearance, price,

and health than regular nuggets. Sitaw Nuggets has an edge over its competition because

it uses higher-quality, healthier ingredients.

MARKET SHARE ANALYSIS

DEMAND AND SUPPLY GAP ANALYSIS

MARKETING STRATEGIES

Marketing Strategy is a method that allows a company to focus its limited resources on

the most promising opportunities for increased sales and a long-term competitive advantage. Prior

to the development, appraisal, and selection of a market-oriented competitive position,

contributes to the company's aims and marketing objectives, strategic planning entails a review of

the company's strategic beginning situation. A thorough marketing strategy covers “the four P’s”

of marketing: product, price, place and promotion. (Wikepedia, 2021).

Product

A product is any good, service, or idea that can be offered to a market to satisfy a want or

need. In manufacturing, products are purchased as raw materials and sold as finished goods.

Commodities are usually raw materials such as metals and agricultural products, but the term can

also refer to anything widely available in the open market.

In our product, instead of meat, our nuggets is made up of long green beans, bread

crumbs, eggs, ground pepper, rock salt, vegetable oil, flour and fried when cooked. The product

will be offered in three sizes: 1/4 kg, ½ kg, and 1 kg

Product’s Packaging

The picture in above show packaging of the actual product which is the Sitaw

Nuggets. It is made of ziplock with three different sizes. Each of zip lock contains

different quantity of the product which are ¼ kg, ½ kg, 1 kg packs

SITAW NUGGETS

(Picture of brand name)

Sitaw Nuggets is the brand name for the product, which was inspired by the

ingredients of long green beans and nuggets. Because long green bean is an important

food for human health, the researchers opted to utilize this product's brand name. Since

the product is made of vegetable, it provides a variety of nutrients to each individual.

The Product’s Value Proposition and Tagline

(Tagline and Explanation)

Price

A pricing strategy is the approach used to set the price of a product or service. It includes

all the methods you use to calculate the right price with the goal of keeping both demand and

profits as high as can be.

(Computation for the pricing of product)

Place refers to where and how people buy your product. Sitaw Nuggets would be

available in every food business in Lucena City.

The researchers will have their own production facility, where they will produce and

make the Sitaw Nuggets. It will be distributed to the food businesses located at Lucena City,

where it can be easily offered to the final consumers.

Manufacturer Wholesailer & Consumer

Fast food businessess Residents in Lucena

Promotion

Promotion refers to specific and thoughtful advertising that reaches a company's target

market. It is to increase awareness, create interest, generate sales or create brand loyalty.

To attract the targeted consumers, advertisements will be put in a prominent location that

can be easily noticed by them, especially to those youngsters. To increase demand, Sitaw Nuggets

will use numerous types of advertising. It will deliver outdoor advertising to those who are on the

road using tarpaulin, or at a specific commercial location. It will vigorously promote or advertise

the product for the first two months after it opens, especially two weeks before it begins selling.

It'll make use of the following:

Tarpaulin will be used to advertise the business. Tarpaulins are ideal for advertising

because they offer a level of durability and mobility that other materials cannot match. They're

extremely adjustable, waterproof, and long-lasting. To be fascinating and effective, promotional

content and materials must be of high quality.

Social Media Advertisement

Social Media Advertisement

Social media is used to promote the business. Social media helps to increase your website

traffic. By sharing your content on social media, you are providing users to click through your

website and visit it for more information. The more quality content you share on your social

account, the more inbound traffic you will generate while making conversion opportunities. It is

the most widely used platform for connecting with customers in order to create a company's

brand and improve sales.

Advertisement for the Product

Radio becomes the listeners' trusted companion, and they form bonds with the radio

personalities since they are with them from morning to night. Taking advantage of this through

advertising can have a significant impact on a company's bottom line.