Rollin IN THE DIP p2 - business plan PDF

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ROLLIN IN THE DIPARANETA, Jhon Kenneth P.BONGYAD, Nicole P.CUCHARO, Trisha Danielle B.LUBRICO, Marianne Crystel Z.MABANSAG, Ma. Angelika S.SANTOS, Jamie R.SOLIMAN, Paula Biangca L.VisionOur company envision to introduce an innovated banana roll. As it tastes will last and leave a mark in their mind ...

Description

ROLLIN IN THE DIP ARANETA, Jhon Kenneth P.

BONGYAD, Nicole P.

CUCHARO, Trisha Danielle B.

LUBRICO, Marianne Crystel Z.

MABANSAG, Ma. Angelika S.

SANTOS, Jamie R.

SOLIMAN, Paula Biangca L.

I. Company Description Born within the year of 2019, Rollin in the Dip originated from Pasig City handled by 7 SHS students from Rizal High School, started as a partial educational requirement for their subject in Feasibility. Rollin in the Dip is a visionary company focused on food products and food innovation that are needed in the modern 21st century. As a food quality developer company, we connect the company to the heart and mind of the customers, we aim to be concise and accurate in delivering business, food information and insights to customers around the area. Our company offers a Filipino snack called Churron. It is not just turon that you usually see in the street vendor. It is different from the usual turon we buy for our merienda because of its different filling. Our Churron is a “mini” turon with a twist. Aside from having a banana filling, dipping it in chocolate after cooking and putting sesame seeds. In the Philippines, taking a short break at school, at work, or even in just an ordinary day, in the afternoon, is of the same importance as lunch breaks and recess. Filipino workers and students are taking a 15 minute to an hour break everyday between 2:00 pm and 4:00 pm to either eat or rest. Filipinos usually spend those breaks by eating snacks, commonly called as “merienda”. The most famous merienda foods that represent Filipino tastes are halo halo, banana cue, suman, tusok tusok, palabok, and turon (Philippine Primer, 2016). Most of the famously consumed fililino merienda lean on the sweet side of foods. The traditional turon is made of thinly sliced plantains (commonly known as “saba”) and slice of jackfruit, dusted with brown sugar, rolled in a spring roll wrapper, and fried. Being in the market for so long, some innovative Filipinos created a variety of their own, they change the fillings to purple yam, sweet potato, mango, cheddar cheese, and coconut; but they didn’t really try to incorporate other variables, the main point of all of this. Being students who practically depend on meriendas when in hunger, we’ve observed that consumers are used to the traditional look, taste, and eating manner of a turon, so used that the thought of it doesn’t really make them curious anymore. With our product, we aim to incorporate one of the common factors of consumer behavior nowadays (convenience) to the traditional turon, and introduce a new variable, a dipping sauce, to add a hint of curiosity to the consumers.

Vision Our company envision to introduce an innovated banana roll. As it tastes will last and leave a mark in their mind and give them good and healthy food. We also want to provide jobs and help the society in terms of livelihood. Mission Our company aims to produce innovative banana roll in the community. We want to bring out new and unusual tastes from locally harvested food staples, that the Filipino would embrace. We will not just cater those who are looking for delicious merienda but we will also take into consideration those who are health conscious. Thus, our mission is not only to earn profit rather our main mission is to bring health and wellness to every individual.

II. PRODUCT DESCRIPTION A product that offers something new, different from the mass market turon sold in the streets now. Turon is sometimes referred to as ‘banana lumpia’ and is part of the Filipino culture. It consists of banana and camote, wrapped in lumpia wrapper then fried to crispiness. Our Churron is smaller, thinner, and cheaper than the usual turon and has a dip that you are eating every afternoon snack. A mini size of all known Churron with sweet potato as one of the main ingredient aside from banana will linger to your taste buds as it gives a new taste. We thought that minimizing its size, people will not be satisfied with just one piece of mini turon so they will buy more of this until they get enough. Unlike the usual turon, one piece is enough. In addition, it is mini because we wanted it to look cute to attract consumers and to offer lower price than the typical turon. Our very own Churron has its dip which is chocolate plus the sesame seeds on it to make it look presentable. This concept of our Churron would be a new taste to the market and would feed their curiosity, “Who dared to change the tradition?”. This would create a social buzz as it gives a new taste to the common and traditional turon we usually buy for our snack.

Our main target markets are the high schools students of Caniogan, male and female who range from 12-20 years old. Being in a commercial and busy area, we also aim to target residents, workers, and by-passers within our business’s vicinity both male and female within the age range of 21- above years old.

Our Churron is an edible and consumable product that is to be eaten as a snack in general (but is initially meant for “merienda”) during lunch, recess, and any out-of-the-blue breaks for high school students, workers, residents, and by passers within our business’s area.

Our Churron consists of plantains (saging saba), camote, wrapped in lumpia wrapper, sprinkled with a sesame seeds and dipped in a special chocolate dipping sauce, not to mention, it’s bite-sized! Our Churron does not conform to the mass marketed traditional turon which is too restricted on the comfort tastes of the Filipinos, rather it exploits other comfort tastes of Filipinos in general and finds a way to incorporate the food norms into one bite-sized delicious product, if you can have it all in a bite, why not go for it?

FCM

SM SUPERMARKET

SMALL-MEDIUM VENDOR

ROLLIN IN THE DIP

TOPPINGS

NONE

NONE

NONE

SESAME SEEDS

SIZE

LARGE

LARGE

REGULAR

SMALL

FLAVOR

CARAMELIZED SUGAR

CARAMELIZED SUGAR

CARAMELIZED SUGAR

DIPPED IN CHOCOLATE

CONTENT

BANANA AND JACKFRUIT

BANANA AND JACKFRUIT

BANANA AND JACKFRUIT

BANANA AND CAMOTE

PRICE

P20

P20

P12

P50

ANALYSIS BASED ON UNIQUE SELLING POINT

The Unique Selling Point of Rollin in the Dip’s Churron is mainly focused on the dip, the entity chose to market their product with the tag-line, “if the dip won’t stick, it’s on us.” the idea sprouted from the uniqueness of the dipping sauce of the Churron. The entity claims to have a thick luscious dip to complement the taste of Churron.

The unique selling point of Rollin’ in the Dip is basically the Churron itself, with the sweet potato as the innovated ingredient inside and the absence of sugar makes it unique from any other competitor. But adding the dip completes and balances the sweetness of Churron so we decided to combine the two for the product to stand out to the market/

III. Marketing Study PRODUCT ANALYSIS

COMPETITORS FREE CHOICE MART (FCM)

SM SUPERMARKET

SMALL-MEDIUM VENDOR

PRODUCTS                

Fruits And Vegetables Meats Spices And Seasonings Snacks Canned And Packaged Food Snacks Fruits And Vegetables And Salads Spices And Seasonings Pasta And Noodles Sauces And Condiments Turon Pancake Gulaman Melon Juice Camote Cue Banana Cue

The table shows the variety of products that our competitors offer in their business branches and also the contents of their own turon. Their turon consists of a string of jackfruit and slices of plantains (saging saba) wrapped inside the lumpia wrapper, lastly, fried and coated with caramelized sugar, not to mention FCM, and SM Supermarket’s turon are all large or plus size, while the street vendors around our vicinity offers a regular sized turon. The medium and big competitors (FCM, SM Supermarket) mentioned above offers a wide variety of products, from foods to toiletries to cosmetics, they are mostly referred to as grocery stores, which initially makes them a go-to stores for everything that a consumer needs, while the small competitors mentioned above, offers a wide variety of products but are only limited to edible and consumable products (food and beverage), which makes them also a tough competitor because they are the closest to our business and they also cater the same thing, only that our turon is better, and it doesn’t conform with the normal and traditional turon, which makes it unique and would pique the interest and curiosity of the consumers. STRENGTHS

WEAKNESSES

OPPORTUNITIES

THREATS

The features

of

key

Our

our

competitors

are

potential in the

bananas other

and

Churron are first it

already known in

market

has dip, another is

the industry and

sweet potato has

ingredients

it has sweet potato

that

not been known

be

as

disadvantage

the

main

is

content and lastly

us.

it

customers

has

toppings

a for Few

reduced

main since

its

will

the

suppliers

will

content.

Aside

from

sweet prefer to supply

potato, chocolate

bigger

we are new to the

and ube could be

companies.

industry.There are

a main ingredient

Other

some competitors

alongside

that

the

banana. The dip

arise

the product are to

same products as

of the Churron

same

add more flavors

ours.

would make the

with

and

customers’

business. Fail in

add

interest

ingredients

caught

as

confectioners sugar

and

cinnamon powder. Our goals for

of

dips

toppings, more for

the

additional

expected

are

as

because

since

such

PRODUCT

Supplies of

Churron has

content, drinks

offers

with competitors will with

be control

our

of

inventory if ever

that would open

that our product

the

would get a high

door

for

multiple numbers demand.

of sizes.

of customers.

PRICING ANALYSIS

FCM(FREE CHOICE MART)

concept

and

off

and to put varieties

ROLLIN IN THE DIP

the

SM SUPERMARKET

SMALL-MEDIUM VENDOR

PRICING FOR PREMIUM PRODUCTS

PRICING AS PER

PRICING AS PER

GEOGRAPHICAL

GEOGRAPHICAL

LOCATION

LOCATION

VALUE RICING PRODUCT

The table shows the competitors’ different types of pricing strategies, both big and small businesses around our parameters. FCM and SM Supermarket’s pricing were all as per Geographic location, wherein the prices of their selected products varies according to the transportation expenses that was spent on certain products, especially on products that spoils or expires easily such as foods, beverages and etc. Lastly, the street vendors around our vicinity uses Value Pricing Product as their pricing strategy, wherein they make sure to have the same, if not maybe more or less,price with their competitors to split the market and make the competition a fair one, probably they talked privately or just analyzed the other competitors to come up with a reasonable and profitable price. STRENGTHS

WEAKNESSES

OPPORTUNITIES

is

Target market are

As

premium or not, the

students and most

increases,

company will make

of them don’t buy

quantity of churron same

profit. Stocks of dip

products

in

or the size of it will products but has

is

packaged

deals.

decrease but same lower price. Some

Whether

PRICING

it

maintained

because we are also

Not

offering

time,

without dip.

churron

most

of

the

the

price

as

THREATS

demand Other competitors the will also offer the premium

before. of them may offer

potential

Soon, we can also same product but

buyers afford to buy

offer solo churron in retail with lower

bundled churron so

(churolo),

they

barkada (churkada),

will

choose

retail in other store.

churron price.

and churron family deals with the use of

psychological

pricing.

PLACE AND DISTRIBUTION CHANNEL ANALYSIS

SMALLMEDIUM VENDOR

ROLLIN IN THE DIP

FCM(FREE CHOICE MART)

PLACE

CANIOGAN

PASIG CITY

PASAY CITY

CANIOGAN PASIG CITY

DISTRIBUTION

RETAIL

RETAILER GROCERY ITEM

RETAIL/ WHOLESALE AND DISTRIBUTION

RETAIL

CHANNEL

SM SUPERMARKET

The table shows all of our competitor’s business place within our business’s vicinity. The closest competitors are the small street vendors who offers the traditional turon, they are mostly around Caniogan and Pag-asa. Their target market are the bypassers and residents of the area, literally anyone, probably their main market are the students too, for there are a lot of schools within their vicinity, so the closer the competitor to our place, the greater threat they are to having our our supposedly customers. Second is FCM, which is located across Pasig City Supermarket, which makes them a well known business and have acquired loyalty and trust from their customers since everybody who’s in need of anything is their target market. Lastly, SM Supermarket which is mainly located at Pasay City, everybody probably know that it is the comfort of the the Philippine, meaning, it’s everywhere and is widely known and trusted.

STRENGTHS Our business

WEAKNESSES There are

OPPORTUNITIES We could

location is within

more competitors

offer our product

summer

the parameters of

along the vicinity.

to

vacation,

every

Known

along the area to

number

business that we’ll

competitors have

be availed by the

customers

distribute

and

strong distribution

customers. When

decrease

supply

our

channel. Some of

our

because

the

competitors

established good

target

meaning to say we

have

their

feedback

are students.

don’t

have

to

loyal

spend

much

on

and it would be

our transportation

difficult for us to

expenses.

gain their loyalty.

budding

products

PLACE

to,

Our

store is

accessible

to

potential customers because

it

is

located along Dr. Sixto Antonio Ave., Caniogan, City.

Pasig

own

customers

the

some

cafes

company

from

competitors

customer’s trust.

THREATS During

of will

our market

PROMOTIONAL ANALYSIS ROLLIN IN THE

FCM(FREE CHOICE

SM

SMALL-MEDIUM

the

SUPERMARKET Posters and the

VENDORS They have no

products are placed

products are placed

promotional

in the entrance of

in the entrance of

strategy.

the store.

the store.

MART) Posters and

DIP Advertising

Has a social media exposure

of

their

products. The table shows the different promotional strategies of our competitors. The promotional strategies of each entity is somehow similar to each other, just like the posters and other social media platforms of their stores. Online advertising is one of the effective ways to attract potential customers. Our business’ strategy is to persuade people through social media since 80% of the population uses online apps everyday. SM Supermarket has video advertisement that can be seen inside the store. However, small enterprises along the said location has no specific promotional strategy because it’s capacity to fund expenses. Meanwhile, all of our competitors are still establishing other types of promotion such as TV commercial and billboards. STRENGTHS Aside

from

promotional strategies

PROMOTION

(like

WEAKNESSES Promotional

OPPORTUNITIES We could have

THREATS If we are not able

procedures can cost

better promotional

to

more

strategies

customers,

than

flyers,small tarpaulin

product

advertisers,

online

expenses

advertising)

we

consider

also

offering coupon

of

discount which is a better promote business.

PROCESS ANALYSIS

way

to our

the

making

like

attract they

tarpaulin

may not consider

advertising and tv

buying from us.

commercials in the future.

ROLLIN IN THE DIP

FCM (FREE CHOICE MART)

Suggestion Box

Customer Line

SMALL-MEDIUM

SM SUPERMARKET

Hotline

VENDORS

No Specific

Hotline

Physical Customer

Process

Social Media

Service

Sticker Feedback

The table shows the competitors’ different processes of customer services. In Free Choice Mart (FCM), they use hotline and physical customer service wh...