Rationale of the Study
Bags have always been a part of our daily lives. It serves various purposes for different users. People buy bags for personal use. Others buy them as gift items and still others as souvenirs. Bags come in many designs and style. Some are made out of leather, plastic, paper and natural fibers. Abaca fiber is one of them. Known worldwide as Manila hemp, abaca fiber is obtained from the leaf sheath of the abaca, Musa textiles Nee and is considered as the strongest among natural fibers. It is indigenous to the Philippines whose favorable climatic condition and volcanic soils are suited to its cultivation. It is similar to banana in appearance that the leaves are upright, pointed, narrower and more tapering. Its fruit are similar, non-edible and contain many seeds. The color of the fiber ranges from ivory white to light and dark brown. Unfortunately, the industry for abaca bags is unstable. Local demand is low which is greatly affected by factors such as competition, product quality, price and the like. Considering these facts, the researchers saw the need to conduct a study on the market feasibility of abaca bags in Cebu. With the results of the study, the researchers aim to promote and improve the sales of abaca bags in the locality. Statement of the Problem
The main purpose of the study is to determine the viability of abaca bags in the local market of Cebu.
To help penetrate the abaca bags industry in the local market. Specific Objective
The general objective of this study is to develop strategies to increase the sales of abaca bags in Cebu.
Specifically, it aims to:
Existing Market Situation
§To determine the uses and users of the product
§To determine the product’s competitors
§To determine the promotional activities of competitors such as advertisements, personal selling and sales promotion §To determine the placement or channels of distribution or trade intermediaries used by competitors §To determine the prices of competitors of products
§To attain a local production supply data for the past years. §To determine the projected local production supply
§To be able to determine and explain the factors affecting the availability of supply Demand Analysis
§To be able to present a primary demand analysis for the product §To determine and discuss the factors affecting the pattern of consumption for the future §To make a projection of the future demand of the product
Supply and Demand Analysis
§To determine the supply and demand gap
Proposed Marketing Strategy
§To determine the target market for the product
§To formulate proposed promotional activities for the product §To determine the channel and place of distribution for the product §To determine the pricing policy of a company
Significance of the Study
Abaca fiber is a world wide known as Manila hemp which can be used as bags which is fashionable in many designs and styles which may attract people all over the world. The result of the study will be of great help to various sectors, namely: Owner of the Business. This study will give the owner the idea on the customers needs and wants. Furthermore, this study can be used as reference in improving the abaca business making to attract customers. Cebu City. This study will be known throughout the city.
Abaca Suppliers. This study will eventually boost the abaca industry and expand their market. This will lead to providing more jobs to the people in Cebu City. Researchers. This will benefit them by enhancing their knowledge in undergoing a research work where they will experience during the process of making a market feasibility study. This will serve as a spring board for further researchers studying related topic. Instructor. This study will benefits them by gaining more knowledge through the process of checking and correcting the study of the researchers and will evaluate later the extent of what...