LOLING’S HOMEMADE PINEAPPLE JAM
I. MARKET ANALYSIS
A. Target Market - Who are the customers?
Our Products target market will be focusing more to retailers such as Public Market of Passi City, small grocery stores, and other retail stores. I chose 50% of our product to be sold or delivered among retailers due to the reason that most local buyers would go to retailers. The 50% will be divided to the Government and Others like schools. This type target market provides us a faster way of selling my product. 2. We will be targeting customers by:
a. Product line
Our Product line will generally fall to Fruit Jams or Spread. b. Geographic area? Which areas?
Passi City and nearby Municipalities like Calinog, Dumarao, Duenas, San Enrique. Since our product is not yet that famous, we will first target nearby towns and municipalities surrounding Passi City. c. Sales?
Because our product is new to the market and we are still trying to market it, we are at least expecting 50 bottles a day which we will target sales of 1,500 Bottles per month. This is a rough estimate based on our assumptions and study. d. Industry?
Our target industries are Food and Manufacturing Industry
B. Business Competition
1. Who are our business competitors?
Our main competitors are Branded Fruit Jams which they include Pineapple Jam. Yet their product is not that competitive among our target market.
SO PINEAPPLE FRUIT JAM
FRUIT GARDER JAM
TAJ AGRO PRODUCTS (Pineapple Jam)
This Pineapple Jams are made by famous and huge companies which have already placed their product in the market competitively. Yet this product focuses its target market among the Class A people. They have existed in the market long enough that they have already made their names in producing best Pineapple Jams. With their high quality standard and excellent taste, it is also partnered with a high price. With this, only people classified in Higher and Middle Class can avail the Pineapple Jam. 2. How competitive is the market?
Our competitors don’t just focus in making Pineapple jams, but also other fruit jams which can make them a huge competitor. Yet we don’t consider our competitors as high competitors in the market because of the reason that we are serving different markets. Our competitors focus in making expensive Jams which only Higher and Middle class can afford. While our jams offers a homemade taste in a lower price which all classes of people can purchase, even the lower class. 3. List below your strengths and weaknesses compared to your business competition. Strengths Weaknesses
1. Cheaper 1.Shorter Expiration date
2. Homemade Taste 2.Not yet well know
3. Excellent Quality3.Local Recipes
4. Much Healthier due to no preservatives.4. Not approved by BFAD C. Market Environment
1. The following are some important economic factors that will affect our product. One of the great factors that will highly affect our product is the transportation cost. Due to the rapid increase of fuel, transportation cost also rapidly increases. We have to travel our Pineapple fruits from outside Barangays of Passi City. As Fuel increase so as other ingredients we need in making our Jam. One of those is Sugar. 2. The following are some important legal factors that will affect our market. -Taxes and permit are additional expenses that we expect would affect our market. - Approval by the BFAD.
3. The following are other environmental factors that will affect our market, but over which we have no control: The greatest all factors that we are expected to have are fortuitous events. Storms will greatly affect the production of Pineapple which is our main ingredients in making Pineapple Jams. Pineapples are grown every year in highland which is far from flood, yet to much water brought by storm or rain, it will affect the growth of the fruits or worst will damage the fruits. II. PRODUCT OR SERVICE ANALYSIS