The Marketing Aspect Essay
The Marketing Aspect
The Marketing Aspect is said to be the lifeblood of all feasibility studies. It makes a big impact on the study because it serves as the basis for the proponents to have a clear picture whether to pursue the business or not. It will determine the factors to be considered in establishing and coming up with the business as well as the financial basis through the projected demand. This chapter seeks to determine the opportunities and threats, the target market, the total demand and supply of the product, the competition and the marketing program which refers to the product, price, place and promotional strategies.
Objectives of the Marketing Aspect:
1. To identify the opportunities and threats of Camias bleach in the market.
2. To determine how much will be the demand for Camias bleach.
3. To know the selling price of Camias bleach.
4. To know where the target market is centered.
5. To be able to know how to introduce the product to the market.
6. To discuss the effectivity of Camias bleach that will convince the buyers to buy to buy the product.
The industry analysis is affected by the opportunity and threat analysis, environmental analysis which consists of the demographic environment, natural environment, technological environment, and political environment.
Opportunity and Threat Analysis
In establishing a business, some factors which may affect the business activities that cannot be prevented or avoided.
Opportunities refer to which are expected to work favorably towards the company operations. a. The main material is abundant here in the Philippines. * The main raw material, which is Camias, can be found and bought everywhere. It grows abundantly in the Philippines, thus, making it available for production. b. Low cost of raw materials.
* The Camias fruit is abundant in the country and can be bought locally at a bargained price.
* The product being made from a fruit, it is definitely environment-friendly as it does not contain some of the harmful effects other chemically-based bleach has.
d. Bleach made from a fruit is new to the market.
* Consumers are used to bleaches that are chemically-based. It will be news to them to find bleach made from Camias in the market and may encourage them to try the product.
Threats are those factors that are expected to have a negative effect on company operations in the external environment.
a. Some consumers may be reluctant to try new products.
* Consumers are used to the products that currently exist in the market. They may be hesitant to try new ones.
b. Natural calamities.
* Natural calamities such as typhoons, earthquakes, etc., may hinder the supply of raw materials and may have a negative impact to the business and can cause delay to the manufacture of the product.
c. Competition with other manufacturers.
* Competition with other products that are longer in the market may be tough. d. The hostile economic situation of the country can affect people’s income. * Our country’s unstable economic standing can affect people’s income which may lead them to buy products which are more affordable.
Establishing a business is not easy. There are certain factors which can affect and are needed to be considered in establishing a business. Environmental Analysis comprises of 5 forces in the External Environment namely: the Demographic, Economic, Natural, Technological and Political Environment.
The chosen target market, North Bay Boulevard South, Navotas, has a total land area of 254 sq. m. of the total land area of Metro Manila. This is one of the fourteen (14) barangays in Navotas.
Boulevard South has a population density of 267, a total population of 67,730. Citizens aging from 5 – 9 dominate the city and most of the people living there are male.
According to BPLO, last 2009, Navotas City is having an economic growth from 5% to 10%. Out of the 100% of its economy, 10% of its economy are of high income while, 20% of them are of average income, and 70% or majority are of low income. There will be an advantage in the product because according to percentage above, 70% are of low income. At the same time, the product is to be sold at reasonable price that is why; people who have low income can buy it.
Since the product is made of Camias fruit, which is readily available in our country, it is a tropical fruit that are produced all – year round. Most of Camias trees are available in provincial areas but there are some trees that are also available here in Metro Manila. Camias trees are bearing small piles (tumbok) that can also be bought in the wet market. There will be no more shortage on the supply of Camias. However, due to the change in the weather condition here in the Philippines, there will be an effect on the supply of Camias in the market and its production process will be lessen.
The use of technology in a business venture is a great help especially in the manufacturing business because it makes the production process of a certain product easier and faster. The use of technology is needed since the product is bleach.
There are several documents that are needed to be filed in putting up a business venture. These documents are to ensure that the business venture will follow rules and regulations enforced by the law. Filing these documents can be time consuming, but in the end it will be favorable since the company itself has complied with the requirements of the government and there will be lesser possibility of legal problems in the business establishment. Examples of the activities under the political environment include: the filing of business permit, and filing and/or paying taxes to the B.I.R.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 21 December 2016
We will write a custom essay sample on The Marketing Aspect
for only $16.38 $12.9/page