A FEASIBILITY STUDY ON VEGGIE BURGER

______________________________________________________________
A Project Feasibility Study

Presented to the Faculty of the

DEPARTMENT OF BUSINESS AND MANAGEMENT
College of Management and Economics
Visayas State University
Visca, Baybay City, Leyte

In Partial Fulfilment of the Requirements for the Course in

MGMT. 145- Introduction to Project Feasibility Study

Prepared and Submitted by:

GROUP6
ADOLFO, LESTER JUN ZABALA – LEADER
MALIPER, JACKZON LOGRONIO
LORETO, KEN LINDEL DAYMOTO
SOMEÑA, EUGENE SANDOVAL
OMILA, JENNIFER
NOVIDA, ANA MARIE
HAPATINGA, SOFIA RABUYA

FEBRUARY 2021
(1 Semester SY 2020-2021)
st
 MARKETING ASPECT

The Market aspect of a feasibility study is significant area where it reveals and discusses the study
and results of Veggie burger general business condition, competitive condition, target market, demand,
supply, product, pricing strategy, promotion, and packaging. This area talks about the structured
questionnaire floated to the respondents and the result determines the demand and supply and for the
researchers to know whether their product will penetrate the target market.

I. Target Market Profile

The main target of the Veggie burger is mostly the Baybayanons or local people of Baybay City of all
gender. Hence, the target markets spending capacity is based on how many Veggie burger will they consume
in a certain price range.

To know the preferences of the possible target market, a survey was conducted to 50 respondents
from randomly selected individual mostly interviewed respondents are male which composed of 38% while
62% female and 60% of the respondent are single also 40% are married. The average age bracket of the
respondents 27yrs. Old of age. the average monthly income bracket of the respondents is Php 10,260.

Price sensitivity is also known as price elasticity of demand and this means the extent to which sale
of a particular service is affected. The price sensitivity of the willingness to consumed Veggie burger for every
price bracket were Php 30 – Php 100, Php 70 – Php 50, Php 40. It basically helps the management to study
the customer or the consumer’s willingness to consumed at a particular price range.

Table 1. Price Sensitivity Analysis

Price Bracket Willingness Quantity

Php-100 0 0
Php-70 0 0
Php-50 64% 64%
Php-30 36% 72%
As shown on the table above is the analysis of the price sensitivity of the Veggie burger. The average
total of 64 percent of the 50 interviewed respondents are willing to purchased 1 Veggie burgers if the price
is Php50. Meanwhile, the average total of 36 percent is willing to purchased 2 Veggie burgers if the price is
Php 30.
II. Estimated Market Size

Table 2. Total Population of Baybay City

Population
Inhabitants 104, 993 people
TOTAL 104, 993 people

Based on the 2010 BMIS records, the city is inhabited by 104, 993 people. In the last 20 years, the
population of Baybay has been growing at an average of 1.43 percent annually.

III. Potential Market Demand

Potential market demand foresees the maximum sales volume Sold. In other words, it shows the
demand and the willingness of the customers to purchase Veggie burger at given period. This is very
important in the market aspect of the service to identify the potentiality of the Veggie burger in the market.

Potential Demand (in P) = N x Q x P

Where: N = Number of buyers

Q = Average quantity bought

P = Average price paid

In this case, N is the total population of Baybay City (Baybayanons). Based on the result of the survey,
72 percent of the average quantity of the total of 50 respondents willing to buy Veggie burger. 36 percent of
the average price of 50 respondent willing to buy veggie burger if the price is php 30.

Using the formula for potential market demand.

Given:

N: 104,993 Q: 72% P: 36%

Solution:

Potential Demand (in P) = N x Q x P

= 104,993 x .72 x .36

PMD = 27214.19 Veggie burger/ year

Therefore, the estimated monthly demand for Veggie burger with the price of Php 30 is 27214.19/
year.
III. Competitors Analysis

In Baybay City, there are many different food industries like Jollibee, Mayongs. This could be a
potential competition of of Veggie burger because most people like to eat Meat type Hamburgers from
Jollibee and Mayongs and not all people especially children prefer veggie burger from hamburgers even if
veggie burgers are healthier.

IV. Market Strategies

Product

Currently, individuals will prefer an artificially manufactured food product that has a less nutritious
nutritional content than traditional foods that is claimed to be available on the market to be "good for our
health." It will also help customers, not only with their health nutrition content, to encourage a safe and
convenient way of eating by introducing of Veggie Burger to public consumers.

Pricing

The price of the Veggie Burger would depend on the price of the key ingredients on the market. The
factor that measures the willingness of customers to buy the product will be considered in any change in the
price of veggie burger.

Place

The product needs to be placed in an area where it could easily catch up the attention of the
customers to increase product awareness, acceptability, and sales. Since the product is distributed only on
some places' the product can also be available up to various stores inside and outside the campus such as
VSU market, high school canteen, and some snack stall that are station in different departments, malls, and
Terminal.

Promotion

This business plan would introduce a wider marketing strategy, not only to gain visibility and
awareness of the name, but also to build deeper relationships with the target consumers they think will help
promote the brand. We use a mixture of the following marketing strategies to meet the target consumer
group: radio, billboards, social networking, television, and in-store sampling.