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Market Analysis Target Market
Market Analysis Target Market
Market Analysis Target Market
MARKET ANALYSIS
Target Market
The market is the people or organizations that will participate in the buying and selling
Hottie Chili Paste’s primary markets are the people of Lucena City. Lucenahin’s from all
ages, those who are fond of eating their meals with added heat in their taste palettes.
The City of Lucena is a first class highly urbanized medium sized city in the province of
Quezon, Philippines. It is the capital city of Quezon and belongs to the 25 most competitive
cities of the Philippines. Its nearby towns are Pagbilao (East), Tayabas (North) and Sariaya
(West).
Competitors Analysis
Below is a table showing the competitors of the company with the comparison of the
products offered, price ranges of the product and the business strategies used by each company.
Hottie Chili Patse Offers chilli paste made The company offer The company will give out
from fresh chillies. It is their product in the flyers and post on social
not simply a hot sauce market in a more media sites to promote the
are not common to the competing brands. they will give free samples
Sriracha Besides offering their The company offers Packaged in simple red
basic sauce, they also their product at Php squeeze bottles with a
offer chilli garlic hot 550.00 for 17 oz. rooster imprint and green
hot sauces that vary in their product at Php tagline- 'there's everything
their heat factor. Besides 320.00 for 20g. It for everyone' as their
sauce, they have 6 other sizes with 20g as variants of hot sauces.
variant.
Other Hot Sauces Offers a wide range of The products are The common promotional
available locally hot sauces that vary in offered in reasonable strategies of the products
Market Survey is defines as the study of the spending characteristics and purchasing
power of the consumer who are within your business's geographic area of operation; a research
method for defining the market parameters of a business. It is a way to explore your customers’
opinions of your new product or service, their preference for yours over the competition’s, and
Below is a sample market survey that the company plans to use to gauge the customer’s
What do you like most about competing products currently available from other
companies?
What changes would most improve competing products currently available from
other companies?
What would make you more likely to use our new product?
If our new product were available today, how likely would you be to recommend it
to others?
Extremely Likely
Very Likely
Moderately Likely
Slightly Likely
If you are not likely to use our new product, why not?
Do not need a product like this Cannot pay for product like this
Do not need a product like this Not willing pay for product like this
Quite Important
Moderately Important
Slightly Important
Overall, are you satisfied with your experience using our new product, dissatisfied
with it, or neither satisfied or dissatisfied with it?
Extremely Satisfied
Quite Satisfied
Moderately Satisfied
Somewhat Dissatisfied
Quite Dissatisfied
Extremely Dissatisfied