1

RATIONALE AND BACKGROUND OF THE STUDY

Fruits are one of the important foods to everyone; it is the sources of vitamins

and carbohydrates like sugar and fiber. Fruits and their juices can be good sources of

water too. The nutrients in fruits are extremely important for health and for the body.

People know that fruit itself can help them to recover to their illness and back to their

natural health that's why they don't mind about the peel. But they don't know that

stripping away this layer removes the other benefits of it.

Fruit peel or the fruit skin is the protective cover of fruit from harsh

environmental factors like micro, and macro organisms. It’s hard to be recycling because

it’s a biodegradable thing or trash but some fruit peel can use in creating an eco-friendly

alternative product to help the environment. Why throwing the peel? When it can make

things that are useful and helpful to the environment. They just not eat healthy foods but

they can also help the environment. Like the banana peel, it has many uses that people

can create to help the environment.

Banana is the common name for a fruit and also the herbaceous plants of

the genus. Musa which produce the commonly eaten fruit. They are native to the tropical

region of Southeast Asia and Australia. Banana peel, also called banana skin in British

English, is the outer covering of the banana fruit. Banana peels are used as food for

animals, in water purification, for manufacturing of several biochemical products as well

as for jokes and comical situations. The shell life of banana is difficult to determine

because there is no sell by the date, use by the date or best before date attached anywhere

to banana. The saba is very known here in the country, according to Valyamor, Espino
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and Pascua this is the most popular cooking and processing cultivar in Luzon. It is used

to prepare popular snack foods while the male bud is used as vegetable Saba is also

known as Dippig in the Ilocos region. This cultivar is very similar to Cardaba, which is

more popular in Visayas and Mindanao. Fruit Quality and Potential Uses This cultivar

can be also be cooked into snack foods like turon (fried banana with starchy wrapper),

banana cue (deep fried bananas coated with brown sugar), and maruya (fried bananas

with flour and butter). The male bud (commonly known as puso ng saging) can be

prepared into several Filipino dishes as well as ingredient to popular dishes like kare-kare

and pochero. The leaves are distinctly preferred for food wrappings because of its scent

and aroma.

The different uses of banana peels like, it can be used as whitening teeth for the

smokers and people who drink coffee regularly. Also it can cures pimples by just

massaging the banana peel in the face and body to avoid pimples. It can also be a pain

reliever just use the banana peel right on the painful area. And also people know that the

banana peel can also be used as shoe polish just rubs the banana peel on the shoes and

instantly they shine. But the researcher conducts a research that banana peel can also be

used as a floor wax.

Floor wax is a wax that is used to finish and polish floors. It is created to increase

hardness and glossiness in flooring, floor wax also keeps it shine from heavy foot traffic.

But some floor wax have chemicals that are not good to the health, Some contain like

cresol, which causes kidney and liver damages, and formaldehyde, which can cause

medical condition including asthma, cancer and reproductive problems.

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The solution to this is simple; the product which is the Banana Peel Extract is an

alternative floor wax using banana peel as component of polish. Banana peel is known

for its slippery texture that once people step on it they will fall down. This product is an

environmental friendly, safer and cheaper because it not contain harmful chemicals. This

is made of candle wax, cooking oil, kerosene and the banana peel. The researcher decided

to put back the floor polish of the old days that was made from natural materials. This

research is to help the people not to think twice in using floor wax in their homes,

schools, offices and other places, that the product they might use is not good for their

health and mostly for the children.

This product can also help the environment to reduce some trash that is

biodegradable and sometimes the smell of it can cause harm to the health. This can be

useful to avoid some floods because of the trash that was stuck in the canals. By reducing

a little amount of trash and making it useful, by a simple act it can also help the

environment and also the economy.

Now a day, this country is facing a great crisis in economy. The researcher found

out that in school they are using floor wax the commercial one to make their floor shiny.

Even in the houses, floor wax is being used to make their floor polish and shiny. That’s

why Banana Peel Extract is make, to help the people make their floors shiny, glossy and

away from heavy foot print in affordable, healthy, and eco-friendly price in equal quality

as the commercial one. Banana Peel Extract is a product for cleaning and polishing floors

that not only gives them a renewed shine, but also helps to protect them from more

damage. This helps to ensure that the floor wax cures properly the floor to prevent no dirt

to show once it dried and ready to enjoy.

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OBJECTIVES

General Objective

• To determine marketability of banana peel as a floor wax in the market and in San

Pablo City, Laguna.

Specific Objective

• To be known as one of a kind floor wax here in San Pablo City as using banana

peel as an alternative component of polish.

• To be known as a safer and good for the health floor wax.

• To help the environment by using eco-friendly products as an alternative floor

wax.

• To create product with customer expectations and satisfaction rate of 90% by the

end of the year.

• To decrease the cost or expenses of everyday transaction.

• To improve the quality of the floor wax for the good for its productivity.
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II. DISCUSSION

A. Technical Aspect

The technical aspect is the discussion of the basic and operation flow of the

project. It is one of the essentials of this project, this factor responds to the technicalities

and basic structure of the proposed study.

These aspects also include the materials and equipment used in the production,

procedure, implementation, product description, project size, quality control, product

schedule, location, tools and equipment, raw materials, packaging, supplies, and labor.

Product Preparation

To ascertain success and feasibility in this research, the researchers conducted

studies as a preparation on the production and introduction of Banana Peel Extract in the

market. The product should be well prepared for the business to grow successfully.

Figure 1. Flow Chart

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Product Description

This product is an innovation of floor wax using banana peel as the alternative

component of polish. An eco-friendly, safe and cheap product with good quality. It can

make the floors even shiner and more glossy and can last longer.

Figure 2. Presentation of the actual product

Production Schedule

The production of Banana Peel Extract will be six times a week, especially from

Monday and Saturday. There will 3 workers that will create the product.

Table1.

Production Schedule

Number of pieces
Daily 40
Weekly 240
Monthly 690
Annually 11,520

It shows the Daily, Weekly, Monthly and Annually creation of the Banana peel

extract. This Production is based on how many product that the researcher can create and

the total number of pieces they create annually.

Business Schedule
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Table 2.

Gantt Chart

Oct Nov Dec Jan Feb Mar Apr May June July Aug Sep

B. Activities
Registration

Permit and

other licenses
Canvassing of

Raw Materials

and Location
Setting the

Place of the

Business
Purchasing of

raw Materials

and

Equipment’s
Production

Starting of the

business
The project schedule was best summarized on the table above. All necessary steps

were taken accordingly before conducting the business operation. The first on these steps

was the registration permit and other licenses needed for business. A business will not be

able to proceed to operate without securing the necessary permits and other legal

requirements. It is easy to secure a permit, that’s why it would only take a month to

perform the activity. The canvassing of raw materials, supplies, equipment’s and location

could be accomplished in couple of weeks. After finishing the gathering of permits and
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legal documents, setting of location of the business will be done. The setting of business

location includes: redecoration of production area and allocation of furniture and

equipment’s. Following the setting of the location and comes the purchasing of raw

materials and equipment’s. 3 months is enough to fill the business place with the

necessary supplies, furniture, equipment’s, and raw materials. After all the preparation

for the business place, the business is now ready to start the production of Banana Peel

Extract Floor wax.

Working Schedule

Table3.

Working process.

Time Monday Tuesday Wednesday Thursday Friday Saturday Sunday

7:00-8:00 Gathering of materials
9:00-10:00
11:00-12:00

12:00-1:00 L U N C H
1:00-2:00

2:00-3:00 Production
3:00-4:00

4:00-5:00 Delivering of Product

Location
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Figure 3. Location Map

The researchers decided that their production place is home based. The team will

be using one of the researcher’s kitchen for the production along San Pablo-Brgy. III-C

Balagtas Boulevard San Pablo City near the Social Security System (SSS) for the

meantime. When the business grows the researchers will conduct their own place where

they can create and sell their product.

The researchers will supply their product in different markets like the stores in

schools, and also the stores near the target market. This will help the researcher to lessen

their expenses in renting for the place. The buyers or customers will transact to the store

where the researchers supply their products.

Project Size
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Figure 4. Production Area

The researchers business production is home base; the business entity has the lot

area 3x3 sq. meters. This production area is one of the researchers place, they will use

this to create their product for the meantime. Once the business grows the researchers

will conduct their own place for the business.

B. Marketing Aspect

Marketing aspect is considered the most important area, it uses to determine the

suitability of properties for profitable development and define optimal products and

amenities in accordance with projected market demand.

This chapter includes Marketing Segmentation, Target Market, Marketing

Strategy, and Marketing Analysis that the researcher will briefly discuss.

Marketing Segmentation
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Market segmentation is the process of dividing a broad market, normally

consisting of existing and potential customers, into subsets of consumers that exhibit

some type of shared characteristics. The researchers would like to offer the schools and

houses in San Pablo City area and other nearby places that uses floor wax specially those

who have a cement floor. Nowadays people are willing to spend money to make their

house shiny.

Target Market

The target market of the product is for the people who use floor wax in their homes

especially schools. More of the schools their floor is still the cement floor that need floor

wax to polish and to prevent the floor shiny. And also it needs for protective coating on

their floors in order to look and keep the area looking new and for regular cleaning. Also

some houses that also still polishing their floor using floor wax.

Positioning

The researchers decide to put the product in a high quality with a low price.

Compare to other floorwax, this floorwax is different because it is made from banana

peel.

To convince the target market to purchase the product, different sales promotion

will be used. The Banana Peel Extract sales promotion includes several communication

activities that attempt to provide added value or incentives to consumers, wholesalers,

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retailers or other organizational customers to stimulate immediate sales. These efforts

attemp to stimulate product interest, trail, or purchase.

To fully convince the retailers to avail the product a push sales promotion strategy

will be used. This involves convincing trade intermediary channel members to push the

product through the distribution channels to the ultimate consumers via promotion and

selling efforts. The company promotes the product consumer. Typical tactics in push

strategy will be employed like discounts, displays and free trials.

Figure5. Market Positioning Graph

Marketing Strategies

The main objective of the study is promoting an eco-friendly, safer and cheaper

floor wax in the market. To achieve this objective the business will utilize “word of

mouth” promotion strategy where the researcher will promote the benefits and the safety

of the product. Also the researcher will use flyers to promote the information about the

product, the price, location where they can buy the product and also the contact number.

These flyers will help the researcher to promote the product to different people. Having
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invested in packaging, the firm included this tactic in its strategy for the enhancement of

its brand awareness. Sales promotion and others through the internet is another strategy

the firm applied in order to fulfill its objectives successfully.

All the strategies mentioned above were followed in an integrated manner in order

to facilitate the accurate development of tactics and put the specific tactics in the same

direction.

C. Financial Aspect

In starting a business one of the biggest factor that determines the success is in

fact of money and how much you have of it. The financial aspects are worked on the

most on any business, because the whole purpose of the business is all around finance

and how to deal with it. This chapter includes initial capital requirement and source of

financing.
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Initial Capital Requirement

The initial capital requirement would be the part of the total project cost that should

be financed and completed first so that the business would be able to start its operation.

This includes equipment, tools, raw materials, supplies expense, packaging and

advertising expense. Thus, the initial capital requirement is the same as the total project

cost which is Php75,000.00.

Source of financing

Each partner will contribute Php 20,000.00 to start up the business as a part of the

total project cost. The sources of financing of each partner will be from their personal

savings and the other Php15,000 will be the contribution of their relatives.

D. Management Aspect

The management aspect includes the vision, mission, form of ownership,

organizational chart, brand name, logo, health and safety management of the business.

This is the process of planning, organizing, staffing, directing, and controlling an

organization. This is the important in putting up a business.

Form of Ownership
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The type of business organization will be a general partnership. A general

partnership is a partnership with only general partners. Each general partner takes charge

in all operation of the business and also takes responsibilities in the liabilities of the

business.

The proponents will establish the business by complying all the business permits

before anything else. All requirements of the partnership must be authorized, if it is

already settled, they started to buy the materials and equipment needed to the product and

after all the preparation the proponents will be able to start the business.

Vision and Mission Statement

Vision

Banana Peel Extract shall be the premier manufacturer of floor wax made from

banana peel, that inspire all the manufacturing companies by using alternative and eco-

friendly ingredients that will help the mother earth.

Mission

The Banana Peel Extract aim to provide an innovation of floor wax that is eco-

friendly, safe and affordable with high quality to the customer by promoting it to the

market and to be recognized the importance of banana peel and to introduce a new brand

of floor wax in the market.

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Figure 6. Brand name and Logo

The researcher decided to choose the name “Banana Peel Extract” because the

banana peel is the main ingredients of the product and the extract of it is the one that they

will get to make the product. This logo is different from other brand of floor wax and it is

easily to recognize because of the bright colors that they use, it also helps to pop out the

brand name.

Color yellow stands for freshness, happiness, enlightenment and positivity.

Yellow could also be used in promoting point of sale purchases especially when you want

the customer’s attention quickly. Black is a very powerful color that symbolizes class,

elegance and wealth. Black has a very strong impact on customers and white is often

associated with being pure, fresh and good.

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The circle symbolizes safety, energy, power and because they are less common in

design they work well to attract attention, and provide emphasis.

Human Resource

OWNERS

OPERATION MANAGER

PRODUCTION WORKERS

COURIER

SELLER

Figure 7. Organizational Chart

Job Description

The researchers were the employees of their own business. They prefer to be the

workers to lessen their expenses to make sure that the product would be produced

carefully and properly as the proponents were expecting. In their production there were

two floor wax makers and one who will deliver the product to the respective stores. The

employees followed the rules and regulation of their business; they did the task assigned

to them according to their positions. If the employees could not bear their job then they

hired an employee who can deal with the job.

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Operation Manager- manages the relationships/agreements with external

partners/vendors it also evaluates the overall performance by gathering, analyzing and

interpreting data manages the relationships/agreements with external partners/vendors it

also evaluates the overall performance by gathering, analyzing and interpreting data.

Floor wax Maker- their duties were to produce the floor wax and to ensure the safety

and cleanliness of the product. They were also responsible for the activities which were

part of the business such as sanitation of the manufacturing area and the care of tools and

equipment.

Courier- The duty of the courier was to deliver the product to their customers who were

far from them and those customers who didn’t want to waste their time in coming to the

production place. The courier was responsible for the safety of the product and they had

to make sure that they delivered the product according to its schedule.

Seller- The duty of the seller was to make the arrangement for transfer to product to the

buyer. The seller was responsible for the exact payment and change of the customer, sales

details of the business and they were also on duty to clean and preparing the facility

before and after they used it. The seller was responsible inside and outside of their facility

and safety of the machineries.

Job Qualification

Before putting the employee in a specific work they should look if he or she is

qualified for the task. If the employee is not qualified then the work is not for them.
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Operation Manager- Male or Female and must be College graduate in a degree in

Business Administration or other relevant field. They must have excellent organizational

and leadership abilities, outstanding communication skills and people skills. The

employee should have knowledge of diverse business functions and principles like supply

chain finance, customer service etc. Also proficient in MS Office and other business

software.

Floor wax Maker- Male or Female and 18 to 35 years old, and must be at least high

school graduate. They must have knowledge about floor wax and they should a fast

learner so they will able to go with the flow on how floor wax made. The employee

should have some skills in cleaning and maintaining the cleanliness of the area.

Employee must have good moral character and they should be a hardworking people.

They must be employees who are willing to work with varying task and shifts.

Courier- Male or Female and 18 to 35 years old, and must be at least high school

graduate. They must have knowledge and skills in driving cars and motorbikes. The

employee should be a hardworking person and have a good moral character. He must

know all about direction and places here in San Pablo City, Laguna.

Seller- Male or Female and 18 to 35 years old, and must be at least high school graduate

with good moral character and trustworthy; have good mathematical and sales ability,

with pleasing personality and must willing to do the job.

Employee Benefits

The employee benefits were SSS and Philhealth. The owners of the business were

subjected to pay the SSS and Philhealth of their employees.

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Social Security System (SSS; Filipino: Pangkaseguraduhang Kapanatagang Panlipunan)

is a state-run, social insurance program for non-government employees in the Philippines.

SSS members can make “salary or calamity” loans. Salary loans are calculated based on a

member’s particular monthly salary.

Philippine Health Insurance Corporation (Philhealth) it state its goal as insuring a

sustainable national health insurance program for all.

Health and Safety Management

The business must maintain the orderliness, safeties and especially cleanliness; it

is the most important thing that the researchers are concerned. The management will

monitor the safety and the cleanliness of the working place and the equipment that will be

using for creating the product.

The production place is a one of the team’s kitchen and for the safety of the

worker for producing the product the researcher makes sure that the place is safe. They

conduct fire extinguisher to reduce accident and for the worker they must have proper

clothing like the gloves, hairnet and apron to reduce accident. In case of some injuries the

teams also conduct the first aid kit to reduce minor injuries. If ever there are some major

accidents or their will be a circumstances, the production and the operation of the

business will stop to avoid harm in the employees and also for the business.

In the safety of buyers or consumers the researcher makes sure that the product is

safe and not harmful especially to the health. In schools and homes they want to make

their floors shinny and slippery, the researcher makes sure that the product is not over

slippery to avoid harm to the users especially for the children.

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Waste Disposal

The product is banana peel exact and by its name it is made from banana peel.

The researcher will get the banana peel itself from the vendors who sell foods that made

from banana, to help them reduce trash that they made. The researcher will make the

trash useful and helpful to the environment.

To make this product the team will just need or use the exact of the banana peel.

In that case the banana peel will be the waste of the production. To minimize this waste

the team will use it as a fertilizer to help the plants grow more.

Project Sustainability

The business is planning to provide customers with more products that can satisfy

them and sustain the good reputation of the business. Since one of the objectives of the

business is to increase sales and also profit, once the business grow and the market accept

the product the partners will make an expansion of the operation to sustain the increase in

sale and profits in terms of the net income of the business. This can be a way to give

employment which can benefit the people and the government. The Banana Peel Extract

will continue to improve for the next years of operations to be known as one of the

sustainable business in San Pablo City, but also in the whole country and maybe globally.

SWOT Analysis
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Strength Weakness
1. The first floor wax that is using Banana 1. Advertising like commercial.
Peel Extract in San Pablo City, Laguna. 2. Broad companies
2. The quantity of the product is greater than 3. Tiles floor.
other floor wax. 4. New to market.
3. Can help to reduce trash especially
biodegradable.
4. Raw materials can be obtained easily.
5. Price is reasonable.
6. Good quality product.
Opportunities Threats
1. Introducing the product in the market as a 1. Calamities especially
new brand of floor wax typhoons
2. To introduce the benefits of Banana peel. 2. Pest that can harm Banana
3. To be well know in San Pablo City, trees and banana peel
Laguna. 3. Competitors

REFERENCES
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Books

Valmayor, R.V., R.R.C. Espino, and O.C. Pascua (2008). “The Wild and Cultivated

Bananas of the Philippines. Los Baños, Laguna”. PARFFI and BAR

Unpublished Thesis

Cortez, D. C., Caliwagan, J.L D, Boncajes, J. G. (2014). “Acceptability and

Marketability of Vanilla Kamias Candy in Laguna State Polytechnic University-San

Pablo City Campus”. Unpublished manuscript.

Websites

https://caloriebee.com/nutrition/Benefits-of-Banana-Peels

https://www.healthbenefitstimes.com

https://www.greenshieldsfloors.com/floor-wax

APPENDICES
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Appendix A

Letter to the Dean

Republic of the Philippines

Laguna State Polytechnic University
Province of Laguna
College of Business Management and Accountancy

Mr. Jeffrey Ayala

Associate Dean, CBMA

Greetings!

We, the undersigned third students of Laguna State Polytechnic University San
Pablo City Campus, taking up Bachelor of Science in Business Administration, major in
Financial Management, are presently conducting a study titled "MARKETABILITY OF
FLOORWAX USING BANANA PEEL."

In line with this, we would like to ask permission from your good office to allow
us to conduct a survey to our respondents. Hoping for your favorable response.

Thank you very much.

Respectfully Yours,
Khim Inah S. Paliza
Mary Joy D.
Samson Airrah
Krizelle C. Flores
Noted By:

Mrs. Socoro Gemma Agranum

Research Adviser

Approved By:

Mr. Jeffrey Ayala

Associate Dean, CBMA
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Appendix B

Letter to the Respondents

Republic of the Philippines

Laguna State Polytechnic University
Province of Laguna
College of Business Management and Accountancy

Dear Respondents,

Greetings!

We, the undersigned third students of Laguna State Polytechnic University San
Pablo City Campus, taking up Bachelor of Science in Business Administration, major in
Financial Management, are presently conducting a study titled "MARKETABILITY OF
FLOORWAX USING BANANA PEEL."

In line with this, we would like to ask permission from your good office to allow
us to conduct a survey to our respondents. Hoping for your favorable response.

Thank you very much.

Respectfully Yours,
Khim Inah S. Paliza
Mary Joy D.
Samson
Airrah Krizelle C.Flores

Noted By:

Mrs. Socoro Gemma Agranum

Research Adviser

Approved By:
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Mr. Jeffrey Ayala

Associate Dean, CBMA