Eternity Restobar

Aceron. Chiong.

Chapter II. Market Feasibility

Product

The bar would have a great gatzby theme focusing on art-deco style off-white, gold and with
lowlights of black and white- an opulent and yet modern room. Colors are in metallic shades
and shiny textures. The wallpaper combines gold accents with marbleised texture. For the
seating area, stylish leather sofas reflect the golden lighting, accentuated by dark walls and lit
wall art.

Eternity plans the menu to be "kanto cool," elevating the Pinoy street food and giving it a
gastronomic spin while still maintaining that elegant and classic feel. For the prices, the
researchers have canvassed the price points of known establishments from Davao such as
Pre-Game, 199x, and Club Echelon, which is then compared and adapted to the following
menu: the food would include roasted wings, chicken adobo, sisig, chili con carne, chicken
fingers, fried calamares, nachos & dip, lechon kawali, pork bites, and buffalo wings. Price
ranges from 210PHP to 300PHP.

For the alcohol, there would be a selection of beers such as San Miguel Light, San Miguel
Apple, San Miguel Premium, Heineken, Tiger Black, Pale Pilsen, Red Horse, Cerveza Negra,
Smirnoff and Bacardi Breezer drinks. For the rum, there is Bacardi Superior, Black, Gold,
and Apple. Prices range from 70PHP to 95PHP (for the beer) and 1,100PHP to 1,300 (for the
Rum).

For the whiskey, Jack Daniels, Jim Beam, Chival Regal, Johnnie Walker Red, Black, Gold,
Double Black, Green, and Blue. For the White Wine, Yellow Tail Moscato; Red Wine,
Proximo, and Jacob’s Creek; Sparkling Wine, Martini Prosecco, Asti and Rose. For the shots,
Blowjob, Ferrari, Tequila Jose Cuervo, and Rum Bacardi Black. Tequila bottles would
include Patron Reposado, Silver, and Jose Cuervo Gold. Lowest price would be 1,500PHP
per bottle up to 5,000PHP.

For the vodka, Grey Goose, L’Orange, Le Citron, Smirnoff, Antonov, Smirnoff Red, and
Absolut Blue. Spirits would include Fundador Solera, Jagermeister, and Hennessy Vs. Lastly
for the energy drinks, this would include monster and red bull. The lowest price would be
200PHP (for the energy drinks), 1,200PHP to 2,900PHP (for spirits), and 1,600PHP to
5,000PHP for the vodka selection.
The following graphs and information show results of the feasibility study on opening
Eternity Restobar in Panabo City. A report summary is discussed below containing relevant
information regarding the decision making of the overall operation of the business; from the
theme of the bar, facilities and ammenities, drink and food selection, type of music, and
operating hours of the establishment.

Respondents of this study are mostly females, 52.5%; while there are only 47.5% males who
answered the survey.

Age range are mostly 93.5% 18-25 years old, 4,9% for 26-30 years old, and 1.6% for ages
31-35.
For the employment status, 50.8% are unemployed, 13.1% are students, 9.8% are
self-employed, 4.9% are business owners, 4.9% are employed.

For economic status, 60.7% are in middle income, 39.3% have low income.
Regarding entrance fee, 41% would pay 100PHP, 24.6% says 150PHP, 13.1% chose 200PHP
and another 13.1% are willing to pay 300PHP and above while only 8.2% would pay
250PHP.

Gauging their preference in going to a bar, 41% chose the lowest scale (rarely goes), 16.4%
chose the third scale, 9.8% chose the 5th scale, 8.2% chose the 4th scale, 6.6% chose both the
second and 4th scale, 6.6% for the 6th scale, 4.9% for the 8th scale, 3.3% for the 7th and 10th
scale.
Choosing only the top five, Tequila (29 votes), Vodka (27 votes), Beer (26 votes), Mix
cocktails (22 votes), and Rum (14 votes)

For the type of bars the respondents prefer, Live music bar got 44 votes, Cocktail bars got 26
votes, 17 votes for pub or tavern, hotel bar got 14 votes, and wine bar got 11 votes.
For the top three choices of the money the respondents are willing to spend in a bar, 41%
chose 300-500PHP, 31.1% chose 900-1,200PHP, and 21.3% chose 600-800PHP.

For the preferred time to go in a bar, 41% chose 9pm, 26.2% chose 8pm, and 19.7% chose
10pm.
To the type of music, the 46 voted for pop music, 31 chose remixes, 30 chose jazz, 26 voted
for oldies music, and 23 voted for cover bands.

For live entertainment, 91.8% voted for yes and 8.2% voted for no.
In this segment, all 61 respondents agreed that the crowd grows larger as the night progresses.

Regarding having a students night, 80.3% agreed while 19.7% disagreed.

For the online platforms, 20 voted for Facebook, while the rest voted for twitter, instagram,
and tiktok.

For the preferred drinks, 16 respondents ranked vodka as most preferred, 18 people preferred
wine, rum only had 15 votes for the 3rd preference scale, spirits had 23 votes also in the 3rd
preference scale, 15 votes for whiskey also in the 3rd preference scale.

On the other hand, champagne had 17 votes for most preferred, while cocktails had a tie
between most preferred and least preferred. Beer exceeded the rest with 25 votes while
tequila also had a tie of 16 votes between most preferred and the second option for least
preferred.
On how often the respondents visit bars, 55.7% voted for rarely, 14.8% for once a month, and
11.5% for once a week.

Lastly, for the open-ended questions, most preferred VIP exclusive rooms, good interior
including lighting, tables and chairs, and a spacious facility. The cleanliness of the whole
establishment, especially the restroom is especially given emphasis. For the drink selection of
similar establishments, the respondents wrote suggestions such as more liquor options since a
lot prefer a diverse range of alcoholic and non-alcoholic beverage. More noted how drinks
are often overpriced and that bars often have the same menus.

For the atmosphere, most people preferred a chill and classy bar while a few wrote that they
preferred a lively bar with a lot of hype. Regarding the size of the crowd, there were very
varies responses such as preferring a small crowd; however, most agreed on having a
moderately numbered crowd where it’s just enough to walk around. Specifically, 75% of the
bar capacity is filled. In terms of food selection, any type of finger food is accepted while
others specified chips, peanuts, fries, tacos, sisig, kropek, meat, beef, and junk foods.

Demand Analysis

discusses the size, nature, and growth of total demand for the product; discusses the
projected market share of the product
One of the best bars in Davao City is Club Echelon, which is also one of the trendiest clubs in
the city right now. Echelon is a classy nightlife spot that attracts a wide variety of people.
There is an entry charge that includes a free drink, and DJs routinely spin the hottest music.
Live performances are also frequently held.
Her are th other example of the famous Bars and Clubs in the Philippines. Revel at the
Palace, a premium club with a state-of-the-art lighting and music system and sumptuous
furnishings that exude decadence, is a master of the art of upscale clubbing. Because of its
notoriety, it can compete well with some of Las Vegas's best nightclubs. It provides top-notch
service, a variety of alcoholic beverages and creative drinks, as well as internationally
renowned DJs. The two-story space rocks till dawn. Reserve a sofa on the mezzanine if you
want a more intimate setting.
One of the trendiest clubs on the block is Xylo at the location, which is close to Revel. The
chicly remodeled venue, formerly known as Valkyrie, is steadily building a reputation for
attracting top European DJs to Manila to perform the newest EDM tunes. A complimentary
drink is always included with special act tickets. For the best prices, make reservations in
advance.
Tipple & Slaw, which serves scrumptious sandwiches throughout the day, transforms into a
cozy bar at night. It is a terrific spot to unwind after a long day at work and is well-liked by
residents. Try the restaurant's specialty drink, Blind Gin, which combines gin, egg white,
bitters, and lemon juice. Beware of common deals like buy one get one free frozen
margaritas.
The most comprehensive collection of Japanese whisky is available in the Philippine capital
at LIT Whisky Bar, LIT Manila in Serendra. A tall oak bar is flanked by shelves filled with
priceless bottles from all around the world inside the cozy atmosphere. Additionally, LIT
hosts frequent tasting events where whiskey connoisseurs may sample the finest Scottish
single malts while local DJs spin groovy beats. (Bhandari, 2018)
According to the survey of the respondent their preference of drinks that they usually order in
a bar
are Tequila, Vodka, Beer, Mix cocktails, Rum, Whisky, Wine, Champagne and Spirits.
We will be using the percentage formula %= f/N * 100
Where %= percentage f = frequency N = number of respondents
For the market share of the Eternity Restobar it will be 50/50 from both owners. Market share
is the portion of a sector's revenues that a certain business controls. In essence, it is the
portion of your company's overall industry income that comes from selling its goods and
services. Larger market share firms are leaders in their industries and smaller companies must
compete with them.

Calculating the market share we will be using market share formula. Divide the total sales
revenue for the specified time period by the total revenue for the same time period in your
industry. To get your market share %, multiply the figure by 100 once you have it.
Market Share formula = ( Business revenue / total industry revenue) x 100

Eternitiy Restobarhas a market share of 9% in the Panabo City. Other bars like The veranda
market share 15% , Arat muni market share 10% , D’retro bar market share 10%, Rustic bar
market share 5%, Kads gastro pub market share 9% , Coiled hype resto bar and vapeshop
market share 5% , Mangga tree market share 10%, Pads fragile gastropub market share 7%,
Payag grill and folk house market share 10%, Station 8 ktv market share 5% , Wood rock
resto bar market share 5%.

Supply Analysis

systematically analyzes the demand-supply situation

provides adequate and reliable information on the availability of raw materials
discusses the supply situation and the nature of competition
Our primary beverage providers are Mangga Tree and Loudy Store in Panabo City, both of
which have a wide selection of alcoholic beverages. Additionally, the food supply comes
directly from the source at Panabo City's wet market.
Because it is nearby, our Eternity Restobar has easy access to the raw resources we need to
run our business. No delays exist in the delivery of goods to our company. We replenish our
supply of beverages from the shop, which is our primary supplier, every weekend.
The Veranda is one of our local rivals since we sell many of the same drinks as they do, in
addition to many more, but we operate a different kind of bar and employ distinct business
models. Here is an example of one of our menus, showing how reasonably priced the dishes,
drinks, and services are for our customers.
Marketing Strategies

; cites the different factors affecting the market of the product

discusses the marketing program for the product.

Our firm will grow thanks to the utilization of websites and online platforms like facebook,
instagram, twitter, and tiktok, since many people these days are interested in social media
platforms for the latest trends. As with tiktok, we will invite vloggers to visit and provide an
evaluation of the location. The setting, costs, and a taste test must all be included in the film
along with the interior design. To increase the reach of our brand, Facebook and culinary tourists
and aficionados like Davao Food Guide will also be welcomed. Instagram is where consumers
post images of our meals with hashtags identifying our company.

Discounts will also be offered to anyone who follow our accounts on Facebook, Instagram, and
Tiktok. Students will also receive discounts at our establishment, where live music will be
performed every Sunday and DJs will be present from Thursday through Saturday. They only
need to provide identification to receive the 30 PHP discount. The Eternity Restobar offers two
different types of VIP accommodations: a VIP room with karaoke and butler, and a VIP table
with butler for each VIP. For everyone celebrating their birthday at our restaurant bar, admission
is free, and they are allowed one free shot of any beverage they want. Additionally, the group of
10 will receive complimentary admission to our restaurant and bar. We have live bands and DJs
playing at the same time for special events or occasions like Valentine's Day, Father's Day, and
many more.
Every week, Eternity Restobar will have a fresh theme so that the patrons won't get bored, and
well-known Davao City DJs will be asked to play at our bar. We will update all of our social
media accounts with information about the future events, special guests, bands, and DJs. Eternity
Restobar has 4 variety of reservation Gold, Patron, VIP table and VIP room.

In our business we are using the marketing mix to satisfy the needs and wants of our customers
especially for the services. .

Our company sells high-quality drinks, alcoholic beverages, and meals that come straight from
the market every day, so we can guarantee that they are both fresh and of high quality. Eternity
Restobar provides high-quality service, a roomy place for those who enjoy dancing, a facility
that is constantly clean, and VIP areas for special events. If the individual celebrates at our
restaurant/bar, they will receive a little cake, one free drink, and free admission. Only those who
are 18 years of age or older are permitted to enter arestobar, and we strictly enforce this policy to
protect the safety of our patrons. We also rotate the music each week to prevent people from
becoming bored, and we have DJs in the house. We also provide entertainment for the VIP and
VIP rooms, including karaoke, personal butlers and other activities.

Anyone may afford the entry charge, which starts at Php 100, as our restaurant and bar is
extremely reasonably priced for the general public. Beverages, alcoholic drinks, beers, and wines
are available in a range of prices. Prices for food vary depending on what the consumer orders,
and some prices are indicated on the menu. There are solitary tables in the bar that you may sit
close if the bartender is willing, however table costs vary based on how many people are in your
company. The costs for our VIP rooms may be a touch high, but the experience that the guests'
money would purchase would be worthwhile.

Our restaurant and bar are close to the highway, and we have a big parking lot that can hold a lot
of cars. The bar is also roomy for everyone; it is not overcrowded like 199x tiny, where you can't
dance properly because the space is so little. The area around our pub is open to everyone and
has its own parking lot. Customers can easily locate our restobar.

We are connecting with our consumers and customers for our campaign at the Eternity Restobar
using social media platforms including Facebook, Twitter, Instagram, Tictok, and our own
website. Simply leave a note for us, and we will promptly return your phone calls or messages so
that customers may contact us with the least amount of fuss.

The factors that can affect our product are those that arise during delivery because we have no
control over it. For example, ordering beverages from another location may result in delays.
Other events may also have an impact on the orders we place with our distributors. Some
beverages may not be available due to a lack of supply because they are well-known to the
customer so other bars also avail it to them distributors.
 References

Bhandari, S. (2018, December 7). The Best Bars and Clubs in Taguig, Manila. Culture Trip.

Retrieved January 24, 2023, from

https://theculturetrip.com/asia/philippines/articles/the-10-best-bars-and-clubs-in-taguig-m

anila/

Riserbato, R. (2022, december 07). What Is Market Share & How Do You Calculate It?

YouTube. Retrieved January 24, 2023, from

https://blog.hubspot.com/marketing/how-to-calculate-market-share?hubs_content=blog.h

ubspot.com%2Fmarketing%2Fhow-to-calculate-market-share&hubs_content-cta=Market

%20Share%20Formula