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Chapter Ii
Chapter Ii
MARKETING STUDY
INTRODUCTION
The market is the foundation of every business since it consists of the different
the market potential of the product, the determination of the demand and supply
situation, the needs and wants of the prospective consumers, the market opportunities
as well as the best marketing strategies to capture the market. It is essential also for the
company to understand and take into account the strengths and weaknesses of the
company and be aware of the opportunities and threats that are significant in the
can create a brand image, change that image and get people interested in what’s for
sale. Marketing a product or service was once done primarily with billboards and prints
ads and now is often done online and via social media. Marketing efforts, approaches
and messages are constantly evolving. Instead of altering your product to keep up with
changing times and tastes, you can change your marketing to make the product seem
as though it does.
OBJECTIVE OF THE STUDY
MARKET STUDY
of the firm
3. To know the technical feasibility of the proposed business that focuses on the
names of the manufacturers for them to recognize where the product came from. The
name of a business is identified as RIENHA Manufacturing Inc. it came from the initials
of owners “RI” stands for RIZZA “EN” stands for ENRICO while “HA” stands for HANS.
market within a special industry. It is part of the industry analysis and turn of the global
environment analysis.
their skin from insect, parent can buy this product for their kids to prevent any diseases.
So, young children are secured from any harmful that acquired from insects. The 5 to 12
age segments are the target group of this Insectssories because they easily prone of
Teens. Accessories is fit for the teens. Why? Because nowadays, teens are
more party goer and explorer. They want something that easy to carry on in terms of
stuff that they need. Teens are hygienic and they want to feel comfortable. Therefore,
accessories is suite for the teens because it is situated in small container and it can be
SWOT ANALYSIS
venture. It provides information that is helpful in matching the firm’s resources and
the objective of the business venture or project and identifying the internal and external
factors that are favorable and unfavorable to achieve that objective. The SWOT analysis
was based on the 4 P’s which includes product, place, price, and promotion.
Strength
Strengths are the positive factors which will give the business an advantage over
advantage. The proponents believe that the proposed product possess strengths that
depends on the item that you purchase, but still it is more affordable than the other
Accessibility of location. Sto. Tomas, Batangas was the chosen site for the
business. It was easy accessibility to the material needs because it nearby the market
which some of accessories materials and elements are there. It is also the place where
business.
Health Benefits. The proponents make it beneficial for the consumer. The
proposed product has a useful value. We offer an anti-insect accessory that help to
protect your skin from some insects that cause some illnesses like dengue.
Grant a Privilege for the Consumer. Indulge a merit for a loyal customer.
Further, membership is one of the advantages that the proponents offer. Because
membership is evidence that the people involve here will be impact of the privilege that
they provide. Membership grants discounts, freebies and so on. But every membership
will charge of 50 pesos. However, the membership will not affect them as a consumer it
can help to save money because they will have a 10% off of discount for every item that
they avail a accessories and give other privilege in the next day would like to purchase
a accessories. However, it is very usable and great help to save money. The other
privilege that the proponents offer to non-member and member is they offer a free
customization for those who avail a package deal product. A regular price for the non-
Uniqueness of the product. Since “Insectssories” is just new to the market its
distinctive feature makes it unique. Unique in terms of; this accessories are made by
braided straps that can protect you from any insects, offer a customization for labeling
and offer a variety which are the bracelet, necklace, etc. This uniqueness can attract
Benefits of the Product. One of the best thing about the product is the benefit
that the consumer will get into the product. It is not only for mosquito which is the
primary purpose of mosquito repellant oil accessories but also the natural protection of
the mosquito bites such as for malaria, rushes, and also as dengue of what an mosquito
Cost of Production. It is the main advantage of the firm wherein the proponent
reduces the cost of raw materials. The price of insectssories which is the product main
The partnership contribute low capital contribution wherein it gives the edge in forming a
Weaknesses
Weaknesses are the negative factors that place the business at a disadvantage
relative to the others. It hinders the attainment of the firm’s key result area.
hook the responsiveness of the customer because it is just newly introduced in the
market. Of course, people are more aware of the existing brands than the new brand.
just starting up in the market. This is how business works and how it is run by the
owner. Thus, this serves as a test if an inexperienced firm will survive be will survive
established. The business is just in the introductory stage of building up good reputation
and goodwill.
it becomes one the weakness of the business. It may cause slow production unlike to
New entrants. The proponents found out that one of its weaknesses is the
product position in the market since insectssories is newly introduced in the market but
considering it, the weaknesses can presented through special promotion being a new
entrant of the business like the proponent, found a hard time of getting into a track
Opportunity
the industry (Go, 2007). Market opportunity is a big factor in shaping a company’s
strategies. Indeed, managers can match strategy to the company’s situation without first
identifying each industry opportunity and appraising the growth and profit potential each
one holds.
emerging globally, due to the continuously growing business worldwide. The proponents
are optimistic they innovating new ideas and have uniqueness to make an extraordinary
and this is good news to businesses since there is an increasing need and wants to be
every business can grow and expand scope of their product. If there will be a market
expansion therefore there will be a possible reflection wherein the product will be known
Vertical Integration. The business may have the opportunity to adapt vertical
integration.
ways, the business has the opportunity to elevate its product to the market.
products from which to satisfy the unending needs and wants of the customers. But still,
customers are insatiable being and there is always a room for satisfaction to be filled.
THREATS
Threats are external conditions that can cause damage to the business’s
Customer Loyalty. It is a threat for a new existing product because they can’t
assure if the customer will try to use or patronize it, since consumer usually buy a
product that they habitually use. Faithfulness of customers to existing products is
inevitable. Customer will always have a second thought in trying a new product.
especially for a newly operated business. The already have established their market
share in the existing market. It is quite hard to get sales percentage in the market.
crisis, financial difficulties and so on, may cause of obstruction for any business. This
Inflation Rate. The unstable economy or the dynamic debone of economy will
surely affect the buying decision of buyer towards the product as well as the price of
every commodity. There is probability of inflation and deflation rate, the product is not
Threat of new entrants. One of the threat of this business is the new entrants of
the consumer, preferences also changes that makes it a threat to the business.
Changing economic condition. It will affect the cost raw materials and selling
price of the product. It is one of the factors that the company has no control. Strength of
other companies servers as the threats to other. It should be defected for the
The brand name is one of the most important parts of the product for it can add value.
This will be the means of differentiating the product among others and introducing the
product in the market effectively. It consists of name, sign, symbol, or some combination
natural insect repellent and accessories a name that can easily be remembered and
consumer. It offers the customers a feeling of satisfaction toward the quality of the
product.
Natural insect repellent. The proponents will ensures that the consumer will not
cause of any sensitivity because some of consumer experienced a skin allergies, seeing
that they not well fitted on the product that they used. It is just to safeguard consumer
health or skin. This is recommended for consumers who have skin allergies while on the
other side it is opposed to the consumers who haven’t skin allergies, so they can used
it.
Anti-insect Accessories. A accessories that give assistance from some of
illness particularly are the itchiness, infection and diseases like dengue. This is one of
be used properly and order to follow the instruction provided. The proponents
recommended using it every day because we can’t take care of ourselves all day from
insect so it very helpful to prevent any diseases that acquired from insect. Specially, the
target market here is the children because parents are basically concerned on their
health. Furthermore, the proponents advise to use it every day because of it strong
sensitivity of skin.
Any individual can be a user’s of this product the children, teens, and adults.
There is no reason that they cannot use it. Probably, it leans on them whether they wish
to have it or not or either they want other accessories to use it. These are the reason
Clothing may make up the majority of an outfit, but accessories are more
significant than you think. You might find yourself spending just as much time shopping
for
for clothes. Outfit, working together to create an ensemble that expresses your style and
Figure 2.1
Our product LOGO is having a background color blue and it is symbolize peace
or peaceful life, and the word "Rienha" it is combination of our name and it's our
business name and our Manufacturing Inc Business. The word "Insectssories" is our
insectssories presenting that our product are the accessories of having a mosquito
repellent.
Trademark
identified by their consumers. The proposed product has a trade mark of a circular blue
logo containing a words Rienha which stands for our letter of first name. Under this is a
SLOGAN
Figure 2.2
Label
satisfy their needs and wants. In studying the product, product category, quality and
style, brand and packaging are therefore analyses. A product is everything that one can
receive in an exchange. It is a complex of tangible and intangible attributes including
accessories because it will help people from their illness owing to insects, but still the
order to promote the “Anti-insect Accessories” in the market. By having a package deal
product, the proponents see that they will get the sympathy of the customer and it will
be a chance to experience their main product that will bet the start to be recognized in
the market because of its benefits. However, they offer a single item of accessories in
case they can’t afford the whole set of product. Each of it has different interest and use.
Grant a privilege for customer such as discount and freebies. Offering a discount only
for the member and freebies to any consumer who will avail a package deal accessories
and they will be granted a free customization. Further freebies also given every special
PRICING STRATEGY
proponents chose between two new product pricing strategies: one is market skimming
pricing which is setting high price for a new product to skim maximum revenues by layer
from the segments willing to pay the high price; and market penetration pricing which is
setting a low for a new product in order to attract a large number of buyers and a large
market share.
The customer is looking for value which is the relationship between price and
quality. They want the lowest a possible price but highest possible quality. It is the job of
marketing to make customers feel they are getting great value. Wherefore the
proponents used the Market Penetration Pricing Strategy that set a low initial price for a
product. Hereby, people will patronize the product because of its lower price that will
CHANNEL OF DISTRIBUTION
The channel of distribution requires a well-designed mix. It defines how you are
This also relates to where the business is to be put up. The place should be well
planned for better accessibility of the product and easy communication with the
consumers.
Since they’re incipient in business they are not turned into the point that they
retail their product in retailing stores. First, they want to recognize in the market before
they went through retailing products. Hence, the proponents will use one-level channel
CONSUMER
Figure 2.4
This is shows the distribution channel which starts from the manufacturer who is also
the distributors of goods. Next, the consumers who are end user of a product.
PROMOTION STRATEGY
Promotion strategy plays a vital role when a product is on its introduction stage.
Promotion is the method you use to spread the word about your product or service to
consumers, stakeholders and the broader public. Once you’ve identified your target
market, you’ll have a good idea of the best way to reach them.
To implement the promotion strategy the proponents must analyze every aspect
In every business marketing costs and expenses are important in order to run
well. A marketing expenses is very important consideration for all business because it
really difficult for a business owner to understand the significance of marketing expense,
it’s accounting definition, marketing expense management and tax treatment. Typically,
promotion and advertising cost and if there’s a marketing expense there is also a
marketing cost may include expenses of associated with transferring title of goods to a