INTRODUCTION

Business refers to the practice of engaging in commerce to make a living. It involves

introducing new products, services, or systems to the market and consumers. However, a
successful business is not something that appears out of nowhere without proper
introduction to the target market. Developing and launching a business typically goes
through multiple stages, and it is important to consider various factors, including pricing and
costing of the product. Pricing plays a crucial role in determining the cost of the product or
service for both the manufacturer and the customer, and adjusting the price is one way to
ensure that it is reasonable and fair for both parties. Overall, business is an ever-evolving
and complex field that requires careful consideration of various factors to succeed.

Pricing is an essential component of any business, as it helps to modify the cost of

products and services to a level that is beneficial for both the manufacturer and the
customer. By doing this, businesses are able to ensure they have sufficient profits to
maintain and expand their operations; essentially, it is the driving force behind a business's
success. It gives consumers the option of receiving quality products at reasonable prices,
while allowing businesses to remain competitive and generate a steady stream of income.
Therefore, pricing is a critical element for any business wanting to thrive in the modern
marketplace.

When it comes to understanding the expenses associated with producing a particular

item or providing a certain service, Costing is an essential tool. By calculating the exact cost
of the raw materials and other expenses used to create a product, an enterprise can ensure
that when it's time to put a price tag on it, the item will remain profitable. This systematic
process of determining the cost per unit is what Costing stands for, and it's an invaluable
means to a successful business.

As an entrepreneur and producer of an emerging business idea, it is vital to consider

the cost and price of our product not only based on its value, but from a customer's
perspective. It is an arduous process to assess the cost and price of our product, as there
are countless factors to consider. We must be mindful of creating a balance between the
cost and price, while still creating a mutually beneficial situation between our business and
our customers, so that both parties can thrive. Introducing a new product can be a tricky
endeavor for businesses, and there doesn't seem to be an easy answer: if you set the price
too low, you risk not making a profit, but if you set it too high, customers may be intimidated
and be less likely to purchase. Striking the balance between the two can be quite tricky.

We are excited to announce the introduction of a revolutionary new food offering to

the industry: Adobo Rice Wraps! Our unique take on classic Filipino adobo includes two
delicious variants—Pork and Chicken—that can be served either spicy or with the original
garlicky adobo flavor. This unique idea originated from our desire to serve adobo rice in a
cup, but we knew we could do better. Now, with our Adobo Rice Wraps, we are confident
that we have achieved something truly special! Searching for a better way to enjoy adobo,
the iconic Filipino dish, we conducted surveys among students from the University. We were
pleased to find that the results were overwhelmingly positive, and that many of those
surveyed were excited to try our new product. Now, we are striving to provide a more
satisfying way to enjoy adobo that goes beyond what is available currently.
 By integrating only natural preservatives in our product, we are setting a higher
standard of quality and value. While we may be able to produce a comparable product
utilizing alternatives, the end result would not be of the same caliber as the one we offer, and
we believe our customers deserve only the best. That is why our products may cost a bit
more than competing brands, but we are confident that the superior quality justifies the
slightly elevated price. Engaging in the business world it is important to always consider
alternatives to maximize success; this means putting in all of the effort and dedication
necessary to create the best outcome for the company.

When it comes to Top SaWrap, the hardworking staff have gone through an array of
hardships to come up with this creative concept and are still dedicating their time to
investigate and uncover the most effective price point to deliver an advantage to the
customers while simultaneously increasing the overall profits of the company.

Let us begin with our General Manager, Jhemaima Blones. She is the one who will
be overseeing the variety of business operations including operating budgets and launching
price changes that will be introduced to the store manager who is Isabella Mae Salazar. The
store manager is the one who will be handling the production within the store and the
comment and suggestions of the customer which includes the pricing set for our product
which will be forwarded to our finance department who will be handled by Angelica Lapig.
Finance will be the one to monitor the financial situation that will maintain the sustainability of
our business and will be the one to assess If our pricing is viable to our market. On the other
hand, our marketing manager Cyndy Ballerta will be assigned to navigate the path of our
business in which she will be responsible for marketing our products' value. Lastly the most
essential working force of our business is our Service Managers Aprilyn Cabanilla and
Vincent Reyes whom are responsible for maintaining a good service not just the product we
are offering to our customers

With that being said we can now move on to the next chapter which is the challenges
that we might face as we are about to introduce our new product in the market.

CHALLENGE

After conducting a survey on the premise of our University and asking the students
how much of their allowance they are willing to spend on food, we concluded that the
average amount ranged between 50-75 pesos. This can be quite a challenge for food
establishments to create scrumptious and worth it food with a tight budget. Nevertheless, it is
possible to get delicious food and make the most out of the expense. It can be difficult to
make a new business attractive and inviting for customers, but with the right strategies and
approaches, it is possible to achieve success. Taking the time to create a welcoming
atmosphere and offer value-added services can go a long way towards winning the loyalty of
customers – this is the key to making a lasting impression and ensuring the success of your
business.
 Navigating the competitive market landscape can be a daunting task, and one of the
key challenges for any business is the price difference between their direct and indirect
competitors. Careful consideration needs to be taken when assessing whether to increase
the price or set it lower than existing businesses similar to ours. If the price is set higher than
the direct and indirect competitors, we risk not being able to break into their market – the
same market that we are targeting. On the other hand, if the price is set lower than them it
can be hard for us to make a return on our investment.

Our business is Top SaWrap, which is adobo flakes on rice, and we will cook our
adobo using specialized equipment. We will use a rice cooker to save time when preparing
rice because it automatically cooks and keeps the rice warm.

In addition to keeping our pork and chicken cold and extending their shelf life, the
refrigerator is essential for us to be able to sell our signature adobo flakes in a jar. We need
to ensure the jar is securely sealed and that the labels applied, so we’ll use a heat gun to do
both. Beyond the refrigerator, we have other essential kitchen appliances like an electric fan
and gas stove. Of course, there are also various tools that help us bring our dishes to life.
Despite only having a budget of Thirty thousand pesos to launch this business, we are
determined to make it a success. A portion of the budget has already been allocated for the
food testing facility, which is a mandatory requirement for any business dealing with food
meant for human consumption. Producing the necessary equipment for this endeavour has
certainly been a challenge, but by staying focused and motivated, we are confident that we
can make our business a success.

Safety is still our priority that is why we are willing to have it checked first by the
experts before finally introducing it to our customers.

The major challenge that we might face is the rising number of our indirect and direct
competitors such as burrito, shawarma, rice toppings, pastil, kimbap and a lot more that
serve rice or something in a wrap that will relieve hunger. It is a challenge because we need
to compete with them to earn a spot in our market segment. Conquering one at a time is a
great advantage as it can slowly introduce the business offering to a much wider scope and
to newer set of customers. This challenge will lead us to deciding whether our pricing is high
or above the price introduce to customers by our competitors. This will also give us a heads
up of what pricing strategy works out on different types of customers but it will be a great
challenge because not all products matches on different pricing structure and strategy.

Making our customers understand the value of our products isn't easy at all most
specially when the market that is available for our product would most likely base it with the
pricing and not with the value and quality of the product we are offering to them. It is a not
just risking but it is already a gamble that when we pursue serving them the price that they
want, we might lose profit and lose our spot in the market that we pursue on entering.

GOAL

Top SaWrap is an innovative way of serving adobo in a shredded version served on

top of rice in a wrap or in a cup. Adobo is known to be a national dish in the Philippines and
based on the survey that we have conducted to 100 respondents, 99% of them eat adobo.
The group decided to adopt the shredded version of adobo and fry it until it gets a bit crispy
to add texture and flavor.

The group will also offer a garlic vinegar sauce, tomato salsa and the adobo sauce
together with the adobo rice in a cup. Shredded version of adobo is intended to bring comfort
to consumer and to bring an easy to consume dish served dine in or take out. They can
consume it even while standing or even without table.

Our main goal is not just to introduce a new and innovative way of consuming adobo
but we also want to pursue innovating what our ancestors left for us. Not all homes have a
parent or grandparent who can cook for them the adobo that most Filipino homes included in
their menu for every week. Maybe we all have different way of cooking adobo and we have
different preference of liking it. Adobo is adobo and we can easily adjust to the taste of it as it
is difficult to remake the taste of adobo in everytime we cook it.

It is also our goal to get to know our market very well. Knowing our customers and
our customer wants is very important because this is the centre of every successful
business, whether it sells directly to individuals or other businesses. No matter how great our
product or service is, the basic fact is that if a person doesn’t want it or feels they don’t need
it, they won’t buy it. And unless we have a clear understanding of what our consumers’ truly
needs are, we won’t be able to convince anyone that they want or need to purchase what
we’re offering. What we should know about our clients, how to leverage this knowledge to
market to the more successfully, and how to outcompete our rivals.

Top SaWrap aims to make own adobo version, And convey to the target customer
how delicious our own adobo version. Our target customers are students at Bulacan State
University (main campus), Aged 18-25 years old. Students can afford our product because it
is not that expensive. Target customers can also bring their own container for our product, to
avoid clutter or waste that can damage the environment. This product can be taken
anywhere. We are still into researching about the segment that we are going to choose for
our final decision because we still want to conduct free tasting so that they'll be able to
understand what is our product.

ISSUE

The possible issue of Wrap and Roll is the increase in the price of raw materials
such as chicken, oil, onions, garlic, rice, and potatoes. Due to the increase in the price of raw
materials, it is possible that the price and profit of Wrap and Roll will be affected.

In chicken, there is an existing disease which is the bird flu that causes a big effect in
the price. It can also lead us to loose supplies or suppliers as it can lose production of
chicken meat. This will cause us to shift using other type of meat such us pork which is also
much pricey than chicken. It also consumes longer time of preparation to cook such us
tenderizing the pork and shreddinging it. The longer the time to produce and prepare it the
higher the cost it will consume. Tendency of it is that the price of the product will be set
higher.
 In oil and other condiments, we all know that there is an existing inflation that affects
the price of the raw materials. There will be a season when Vegetables and other crops cost
much higher than its usual price. Those tendencies will greatly affect the pricing and costing
of our product and that is where the next issue will arise.

This issue is about how we can communicate well the value of our product base on
the pricing we will set. Considering that it is newly introduce to market, it needs to make a
grand entrance to leave a mark that will make us remembered by our customers. The value
of the product won't be effective if it is not introduced very well and if it doesn't really have a
value at all . That's a big issue when it comes to introducing new to market. Lastly is about
the pricing strategy that we need to use in order to make us a clear path entering the market
segment that we chose. Each markets has its own differences and all of it needed its own
pricing. That is why it can be an issue If we are going to enter a niche market

SOLUTION

There are three alternative courses of action that Wrap and Roll can make to resolve
the issue regarding the increase in raw materials. First, if the price of raw materials such as
chicken, oil, onions, garlic, rice, and potatoes increase, the price of our product should also
increase. Second, the serving size of Wrap and Roll can be reduced so that there is no need
to raise the price. And the third solution is that all the raw materials that will be used to cook
the Wrap and Roll must come from our local farmers. In this way, it is cheaper to buy raw
materials and we can support our local farmers.
Another solution for the possible issue that we might encounter with competing with
our competitors is to continue improving our products than decreasing its price just to caught
their attention back to us. Gathering their comments and suggestions will be a big help to be
able to satisfy our customers. Satisfying a customer base on what they wanted will result to
gaining permanent customers that will definitely come back again and again. Having that in
our business is a definitely an asset that we can use to help.us market our business in a
wider scope as it can induce marketing by word of mouth of those who have tried and loved
our product