chapter 1 marketing
DESCRIPTION
Marketing AspectTRANSCRIPT
Chapter 1
Marketing Aspect
Current Market Situation
Biscuit products sustained to escalate as consumers contemplated
reasonably priced indulgent snacks. With the health and wellness trend
becoming an increasingly vital aspect, growing numbers of consumers are
reaching for good-for-you features of biscuits, such as whole grain or varieties
enriched with milk and fruit pieces. With that, the researchers came up with the
idea of creating another strain of biscuit enhanced with health nutrition using
vegetables as the core ingredient. The vegetable biscuit will go through the
identical process as that of a home-made biscuit.
Biscuit manufacturers are bringing new products to consumers as they
crave for something distinctive from the plain-looking and ordinary tasting biscuits
they have used to for many years. Recently, RITZ developed their product by
introducing new product lines such as wafers and chocolate coated biscuits
(such as choco sticks) to its already wide array of baked products while Rebisco
now carries a wide variety of snack food ranging from nuts and seeds, cakes,
wafers, breads, chips and curls, candies and gums, and chocolates through the
creation of new partners over time such as JBC Food Corportion, Suncrest Food
Inc., Multirich Food Corporation, Pinnacle Food Inc., and SPI Corporation. On the
other hand, Monde Nissin Corporation concentrated on their product type, as the
sources say that crackers (such as Sky Flakes, Blue Skies, Magic Flakes, etc.)
are the best-selling variety followed by sweet biscuits (such as Eggnog, Marie,
etc.) and wafers like TiniWini, through the help of its sister company Monde M.Y.
San Corporation, they evolved into a premier food firm. Biscuit manufacturers
introduced different packaging and product formats to cater to all consumption
occasions. They also modified existing products via ingredient upgrades, to cater
to changing consumer preferences and needs. Business companies are likely to
focus more on reformulating biscuits recipes and on more unique flavours, as
they seek to address the issues of health and obesity and also to promote
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sustainable development and local production. With regard to health-positioned
products, more wholegrain and fortified/functional varieties are expected with
low-calorie versions as well as single-portion variants.
With rising globalization of lifestyles, supported by increasing affordability,
biscuits saw rising acceptance as a snack not just amongst urban consumers,
but also amongst rural consumers, who are increasingly seeing biscuits as a
good snack option between meals that is why they choose impulse products to
indulge themselves, so offering bolder flavours, unusual flavour combinations
and fun textures will be important ways to keep consumers engaged and
indulged.
SWOT Analysis
Strengths
There are no existing competitors that are directly involved in producing
vegetable biscuit as that of Reviscuit’s.
Reviscuit uses an advance technology for the products.
The product is primed from vegetables that are available all year around.
Reviscuit will produce biscuit with nutritious ingredient, vegetable, without
sacrificing the taste.
There will be a variety of exclusive flavours, such as malunggay, pumpkin,
carrots and sweet corn.
Weaknesses
There will be a tight competition with the other brands offering biscuits.
Because Reviscuit uses advanced technology, maintaining its machineries
and equipments will be costly.
Since the product is based entirely on vegetables, natural calamities may
create changes in the supply of vegetables.
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Customers may be uncertain to taste the new product since people
perceive that vegetables have unsavoury taste.
Customers might be discourage to buy because the product is made from
unpopular variety of vegetables
Opportunities
The biscuit industry in the Philippines is emerging according to
Euromonitor International, a statistics and strategy research website.
People are becoming more conscious about the outcome of certain foods
to their health. Reviscuit’s vegetable biscuits will be suitable for those who
are concerned on the nutritional contents of foods.
The health and wellness trend, coupled with the government initiative to
eradicate the problem of malnutrition among children from low-income
families, will influence new product developments.
The Philippines has a rising population and biscuit is a stable snack for
today’s generation.
Customers are changing their lifestyles, therefore, changing their
preference.
Threats
Because the demand for fortified biscuit product is expected to increase,
this will give way to more competitors.
The increase in the number of businesses engaged in selling and
producing healthy snacks also increases both direct and indirect
competitors.
Change in the Administration (Government Officials) will also mean
change in their plans toward health.
Customers might choose other snacks like sandwiches or junk foods.
New confectionary shop is a big threat to Reviscuit.
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Product Objectives
1. To combine the health benefits of the diverse kinds of vegetables with the
stable snack of today’s generation
2. To supply those who are in a hurry a healthy yet filling snack for them
3. To present innovative flavours of biscuit that will capture the attention of all
types of consumers
4. To produce a product that will be an equivalent to one meal
Market Segment
Market segmentation is a technique that enables a business to target and
divide the market into a distinct group of consumers who have common needs
and wants.
Segmenting a group of consumers will make it easier for REVISCUIT to
better understand and analyze the needs of these consumers and to produce a
product that meets the benefits they want and their ability to pay.
REVISCUIT will apply mainly the Psychographic Segmentation; the basis
of such segmentation is the lifestyle, personality and social class of the
individuals. Since REVISCUIT’s main objective is to use vegetable as the main
ingredient of its products, the business will be focusing on the healthy lifestyle of
the consumers. The business aims to produce and distribute a healthier and
more nutritious version of crackers at an affordable price that gives the business
a marketing edge.
Target Market
Buying biscuits is one of the frequent behaviour of Filipinos at any time
they want to munch something especially when it comes their breakfast and
merienda. It has developed into a custom that when people sense hunger of their
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tiring jobs, exhausting school works and strenuous daily activities, they buy some
nibbles to fill up their starvation. From breads to cupcakes, Filipinos in this day
and age have an increasing assortment of snacks to choose from. But, one by no
means goes out of trend ever since it was initially launched to the market, and
that is biscuit.
Since urban areas comprise of many enterprises and considered as a
core of trade and commerce, a business undertaking of a healthier biscuit
product will possibly be exceptionally marketable. Biscuit is absolutely pleasing to
students principally, those children in their early schooling age as their recess
snacks since with its reasonable price and its nutritional contents will help them
to carry on of their school tasks and needless to say, its hunger-filling
characteristics. Notwithstanding using vegetables as its key ingredient, it will still
be satisfying for their taste buds since we will be neutralizing the bitter taste of
vegetables. It will also be marketable to adults who want quick snacks for their
break time or at whatever time they get hungry. The vegetable biscuits will
delight consumers principally those health aware ones since the product is
deliberately devised to bring them the nutritional content that they’re insufficiently
getting from existing biscuit products. In general, the product is fitting for all ages,
but Reviscuit’s veggie biscuits, being a newly innovated product, converge more
on the consumers who are eager to try something new – specifically the people
who have standard income since they can pay for new offerings in the market.
Market Positioning
Reviscuit will create its name as a vegetable crackers producer in
Caloocan City. The biscuit that the business will produce provides the health
benefits of vegetables. As it provides nearly all of the vitamins and minerals
required for good health, most of them contain complex carbohydrates which
provide energy. They also contain no cholesterol, have little or no fat, and are low
in calories. The vegetable biscuit product of Reviscuit ensures that their
consumers will get proper nutrition from its ingredients. Unlike other plain
crackers which are either salty or mild, Reviscuit is made just right to suit your
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taste and on top of your health and wellness. The business’ tagline,
“Masustansiya na, Masarap pa” truly explains it all. Delicious and very affordable,
you get more than your money’s worth with vegetable crackers. As a quick fix for
meals, Reviscuit are satisfying but still light on your waist line. Its calorie content
is just enough to keep their energy up but is not too much to be fattening.
Competitors
Rebisco
From its humble beginning as England
Biscuit Factory in August 1963 in San Juan,
Metro Manila, to what is now known as
Republic Biscuit Corporation; generations of
Filipinos have been enjoying Rebisco’s
basic portfolio of biscuits and now its wide
range of snack foods. Rebisco has a variety of products from Assorted
Biscuits, Biscuits with filling, Cookies with filling, Gourmet Cookies such as
Chunkee and Plain Biscuits/Crackers such as Rebisco Crackers, Hansel
Crackers, Buddy Crackers, Ace Crackers, King Flakes, Bravo Biscuits,
Jungle Bites Cookies, Coco Honey and Marie Time. With its growing
extensive distribution network, market research, and technology and
product development, Rebisco soon positioned itself as one of the major
players in the snack food industry.
Monde M.Y. San Corporation
From its humble beginnings, originating from the
Escolta Ice Cream Parlor in Manila in 1935, the founders,
the Mar Family, have taken a tradition of creating
delectably wholesome snack foods into a new age. Monde
M.Y. San Corporation has been in the business of baking a
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wide assortment of superlative crackers and biscuits since 1935, which today are
enjoyed the world over, by folks from all walks and nations. Leading brands
SkyFlakes crackers and Fita crackers have been enjoyed by a great many
generations of thoroughly satisfied consumers. As such, these heritage brands
have held the number one spot in their respective categories on the Philippine
market. The products were also initially sold abroad to Fil-Asian markets since
the 1970's.
Universal Robina
Universal Robina Corporation
(URC) traces its beginnings all the
way back to 1954. It is committed to
bringing Filipino taste and culture
worldwide, in line with JG Summit’s
vision to make life better, not only for
Filipinos, but for the rest of the world.
1966 saw the establishment ofUniversal Robina Corporation, which pioneered
the salty snacks industry through Chiz Curls, Chippy, and Potato Chips, under
the “Jack ‘n Jill” brand. Other snack products would follow over the years, as the
company successfully introduced market leaders like Pretzels, Piattos, and
Maxx. URC is one of the leading biscuit producers in the country. As of this day,
they own brands of cookies like Presto, Cream-O and Dewberry and crackers
like Magic Flakes, Magic Creams and Magic Flavors.
.
Marketing Mix Strategies
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Marketing mix is a concept that describes the different kinds of tools a
business has to use to bring a product or service into the market and to attract
and retain as many customers as possible. Reviscuit will start its business and
will promote its products through the use of the four P’s (4Ps) of the marketing
mix. The 4Ps consists of product, price, place, and promotion. Marketers need to
use these in order to lead the business towards success.
Product
The country is in need of a nutritious and healthy food to keep pace with
their daily life. This will serve as the competitive advantage of our business
enable to penetrate to the market. The products of Reviscuit are as follows;
Carrot biscuit (29%), Corn biscuit (28%), Squash Biscuit (18%) and Malunggay
Biscuit (25%). Reviscuit tenders improved biscuits predominantly made of
pulverized vegetables as an alternative for flour and specifically produced for the
health-conscious people. This biscuits savour like their respective vegetable
ingredient but with neutralized bitter taste. It is different from any other vegetable
themed products because the business venture uses vegetable as flour and not
as flavouring.
Price
Pricing must constantly be weighed up because it will indeedaffect the
quantity of customers. It must be affordable for the consumers. The price of
Reviscuit products is barely the same than those of its competitors because the
enterprise and the competitor’s target market is barely the same. We used cost
plus strategy in order to set the price of our products.
Place
The manufacturing plant will be positioned in Sampalucan St., Barangay
21, Caloocan City. Caloocan City is a strategic place for a business because it is
the gateway of different cities and provinces. Our scope is within South Caloocan
only. The place is proximate to the sources of raw materials and supplies. The
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place is also nearby the main roads which are increasingly used when
transporting the goods to distribution channels. The place is one ride away from
major establishments such as Caloocan City Hall, Divisoria, Malabon City
Square, SM North Edsa and others so conveyance of necessary materials is
undemanding as to effort and time. And since, the location is close to schools,
offices and other business establishments, the demand for biscuits is rationally
guaranteed because the neighbouring communities are in need of a nourishing
and heaving with health benefit-snacks.
Promotion
Advertising the business on its introductory stage requires an effort of
attracting customers that are into eating biscuit and at the same time seeking for
a healthier and more satisfying counterpart. Print advertising such as leaflets and
flyers will be used for the opening of the business. Leaflets and flyers are good
ways of communicating with the target audience as it presents the information
about the business and what services are offered. The use of this tool does not
need a large budget and yet the response rate can be relatively high.
Normally, advertising on this kind of business goes to the DPC yellow
pages and creating a free facebook page over the internet could add up to the
publicity of the business. But as an introduction, a tarpaulin will be used for
advertising the business, as well as leafleting and a website through page
hosting. Businesses today are more on advertising through the web in order to
attract customers who spend more time in front of their computers.
Marketing Program
DATE PROGRAM MECHANIC BUDGET
One week
before
operation
Flyers Flyers will be used as a promotional
campaign to introduce Reviscuit to
the people, especially to the patrons
of Caloocan.
P 1,400
First day Free-sampling Free-sampling or Free-tasting, is a P 6,000
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of
operation
common way of promoting a new
product into the market. Sample
biscuits will be displayed and
presented by the food
crews/attendants to the people who
will pass by the area.
Start of
operation
to an
indefinite
period of
time
Social
Networking
Site
(Facebook)
Since the generation today live on
technologies, the use of computer
will be an advantage. The business
will have its own site.
FREE
Start of
operation
to an
indefinite
period of
time
Prints on the Packaging
The packaging of the products
bears the name and logo of the
business and information such as
the location of the business and the
tagline. This also includes the paper
bags.
P 1,000
Leaflets and flyers
These will be handed to the people surrounding the section of the
business and also to the people bypassing through the major street of Caloocan
City. This will help the Reviscuit out of spreading the label of the biscuit and
fostering awareness concerning the healthy advantages of the product. This type
of advertisement is very effectual and is usually incurred at a minimal cost.
Flavors of biscuit offered
Price
Business address and contact number
Business hours
Business Slogan
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“Masustansya na, Masarap pa”
Tarpaulin
Business Name, Address, Contact No.
Business Logo
Business Hours
Business Slogan
“Masustansya na, Masarap pa”
Flavors of biscuits offered
Free tasting
Reviscuit will extend free-tasting, this is to invite potential customers.
Those people near the business location will be given the oppurtunity to taste the
vegetable biscuits made by Reviscuit without charge.
Social Media Marketing
Social media networks are the most common means of communication
nowadays among people from different social networking sites such as Facebook
and Twitter. It is so much easier now for people to connect with their family,
friends and even strangers. Also, because of these SNS (social networking
sites), it is less complicated to share stuff like photos, videos and reviews to
everyone. Therefore, this is one of the more convenient ways to advertise
Reviscuit.
Through this marketing, everyone who has access to the internet will be
easily informed with the introduction of a new product in the market. The flavors,
the price range, and even the health benefits of Reviscuit products can be put in
detail in any SNS for free. Social media marketing is also Reviscuit’s way to
communicate with customers to get reactions, comments, suggestions and any
type of feedback.
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Website through facebook.com http://facebook.com/Reviscuit
Prints on the packaging
The packaging of vegetable biscuit itself serves as an advertisement. The
logo, business name, contact details for inquiries and the location of the business
are printed on each packaging materials.
Analysis of Demand and Supply
Computation of Demand
To compute for the estimated total demand for vegetable biscuits, the
researchers consider the following based on the results of the accomplished
survey questionnaires:
a. According to the report released by www.caloocancity.gov.ph, there are
approximately 1,264,497 residents of Caloocan City based on the 2010
figures compounded for 3 years using 2.37% annual growth rate but
considered only 609,695 residents as our total population because the point
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Figure 1.4 Screenshot of the website
of distribution is only within South portion of Caloocan City. This number
represents those whose age is 15 and above because they are the ones who
have the buying capacity.
b. From the total population, we get a sample size of 300 by using a
statistical tool called Sloven Formula with a margin of error of 6%.
n= number of samples N= total population e=error margin
n= N/ (1 + Ne^2)
n= 609,695/ (1 + 609,695(.06^2))
n= 277 or 300 samples
Based on the survey, we found out that there are about 41.36% of the
population who prefer eating biscuits as their snack. This is equivalent to
252,170 persons which was derived from multiplying 609,695 by
41.36%.
From Question#5, the researchers determined that 77.27% are willing to
try different flavors of biscuits aside from those available in the market.
That would be 77.27% of 252,170 or 194,852 persons.
But based from Question#6, 75.67% of 194,852 persons or 147,445 are
willing to eat vegetable based biscuits. The 147,445 figures serves as
the total demand for the product.
c. As a result, the estimated total demand for every vegetable biscuit flavor is
as follows:
What vegetables do you think will be
appetizing to you as a biscuit?
No. of
respondents Percentage
Spinach 42 8.84%
Squash 63 13.26%
Malunggay 84 17.68%
Carrots 96 20.21%
Sweet Potato 4 0.84%
Green Peas 37 7.79%
Monggo 29 6.11%
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Corn 97 20.42%
Jicama/Singkamas 18 3.79%
Ampalaya 4 0.84%
Ginger 1 0.21%
Total 475 100.00%
8.84%
13.26%
17.68%
20.21%
0.84%
7.79%
6.11%
20.42%
3.79% 0.84% 0.21%
What vegetables do you think will be appetizing to you as a biscuit?
SpinachSquashMalunggayCarrotsSweet PotatoGreen PeasMonggoCornJicama/SingkamasAmpalayaGinger
In the survey questionnaire, the respondents ranked which vegetables
they wish to try as a flavor of ice cream. This will help the researchers to identify
what vegetables are possible flavors of their biscuits
Computation of Supply
(a) (b) (c) (d)
Sari-sari stores selling Customers Estimated Estimated
20
biscuits
bought biscuits
per hour
customers who
bought biscuits
per 5 hours
customers per
day
b x 5
JOY DONOR'S STORE 4 2035
3 15
C.L. VERGARA'S
STORE
7 35
60
5 25
R.M. SALUD STORE 6 3065
7 35
C.B.C. SARI SARI
STORE
9 45
70
5 25
ALDAY SARI SARI
STORE
6 30
45
3 15
EHRISSA SARI-SARI
STORE
4 20
35
3 15
J. MERLAN STORE 4 2050
6 30
AUNALD SARI-SARI
STORE
2 10
45
7 35
21
Total Supply 405
Computation of Total Supply
Average biscuit sold by Sari-sari
stores/day 51
Approximate no. of sari-sari stores within
South Caloocan 2,542
Total
Supply 129,642
The researchers conducted an observation for two days, January 11 and
12, 2013. The total supply is computed by getting the average biscuit sold per day
based on observed sari-sari stores which is 51 biscuits/day (405 divided by 8) and
multiplying it to approximate no. of sari-sari stores within South Caloocan – 2,542
(Acquired from multiplying the average number of sari-sari stores/baranggay by
164 baranggays in South Caloocan. Based on these data, the competitors can
supply 129,642 biscuits per day.
Market Share Analysis
Every business must determine their market share that will serve as basis
of marketing strategies of the establishment. It will define the extent of market
that we need to satisfy. Out of the total available market which is 13.73%, we
made our capacity to supply based on our resources. We have 2 baking oven
and 2 dehydrators and 100 pieces of biscuits requires approximately 1 hour and
30 minutes of preparation. Our business hour is 10 days. And we got 1,780
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Baranggay
Number of Sari-sari
stores
Brgy, 81 - Morning Breeze Subdivision 17
Brgy, 93 - Grace Park, Caloocan 11
Brgy, 11 –Sangandaan 15
Brgy, 147 - Bagong barrio 19
Average 15.5
packs of biscuits based on our capacity which is 10% of the available market as
shown in the graph.
Therefore market share is computed by dividing the capacity to supply to
the available market.
They all increase by 2.37% every year following the population growth rate
of the city.
Note: Capacity to produce annually: 469,999 packs
Projected Demand and Supply
Based on the completed demand and supply, the competitors have an
unfilled demand of 17,803 per day. The researchers estimated their projected
demand of (7,797 x 25%=1,949.25= 1,950) packs of biscuits a day based on their
estimated production capacity. Based on an interview conducted with an owner of
sari-sari store, their peak sales is on weekdays where students are going to
schools.
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YearProjected
GrowthMarket Share
2013 2.37% 10.00%2014 2.37% 10.24%2015 2.37% 10.48%2016 2.37% 10.73%2017 2.37% 10.98%2018 2.37% 11.24%2019 2.37% 11.51%
Year Demand SupplyDemand Supply
Gap2013 147,445 129,642 17,803 2014 150,939 132,715 18,225 2015 154,516 135,860 18,656 2016 158,178 139,080 19,099 2017 161,927 142,376 19,551 2018 165,765 145,750 20,015 2019 169,693 149,205 20,489
The demand and supply bases of 147,445 and 129,642, respectively for
the computation of projections were based on the observation by the researchers
conducted on January 11 and 12, 2013, 8:00 AM and 4:00 PM which is the time
when biscuits are mostly bought for snacks.
The researchers were able to compute for the projected supply and
demand for the next 7 years using the information gathered. According to the
demographic data published by Caloocancity.gov.ph, the population of the city
increased at a compound annual growth rate of 2.37% between 2005 and 2010.
Following the 5-year projection, there will be a percent increase in sales for the
next seven years following the 2.37% growth in the first seven years. Using the
data, the researchers followed the trend. Projected supply and demand for 7
years was computed by increasing the first seven years by 2.37%.
Product Survey
Survey Results
No. of
Respondents Percentage
Below 13 Years Old 25 8.49%
13-22 Years Old 71 23.70%
23-32 Years Old 61 20.46%
33-42 Years Old 39 13.08%
43-52 Years Old 47 15.52%
53-62 Years Old 39 12.96%
63 years old and above 17 5.80%
TOTAL 300 100.00%
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8.49%23.70
%
20.46%
13.08%
15.52%
12.96%
5.80%
Survey Results
Below 13 Years Old 13-22 Years Old23-32 Years Old 33-42 Years Old43-52 Years Old 53-62 Years Old63 Years Old and Above
The age bracket of the respondents is considered in determining the
target market because people’s interest and lifestyle change as they age.
According to the survey, out of 300 respondents, majority of them are the youth.
In that case, the youth are the ones who are not afraid of trying new things or
experimenting, like new food products.
When hungry, what snack do you prefer?
No. of
respondents Percentage
Cupcake 66 22.03%
Chips 51 17.03%
Bread 59 19.57%
Biscuit 124 41.36%
TOTAL 300 100.00%
25
22.03%
17.03%
19.57%
41.36%
When hungry, what snack do you prefer?
CupcakeChipsBreadBiscuit
The respondents were asked what snacks they prefer in order to estimate
the potential buyers of the product. In accordance with the survey, out of 300
respondents, majority of them prefer biscuits. It proves that biscuits are driven by
its growing appeal; therefore, it is treated as a wholesome snack option, and
perhaps a healthier substitute to sweet treats such as sugar and chocolate
confectionery.
Do you eat biscuit?
No. of
respondents Percentage
Yes 300 100.00%
No 0 0.00%
TOTAL 300 100.00%
1
Do you eat biscuit?
YesNo
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From this question, the researchers were able to narrow down the number
of respondents who really biscuit although they prefer other types of snacks
based on the preceding question. But the 100% result will not be used in the
analysis of demand.
How often do you eat biscuit?
No. of
respondents Percentage
Daily 105 35.13%
2-5 times a week 184 61.22%
Occasionally/Rarely 11 3.66%
TOTAL 300 100.00%
35.13%
61.22%
3.66%
How often do you eat biscuit?
Daily2-5 Times a WeekOccasionally/Rarely
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What factors do you
consider in buying
biscuits?
No. of
respondents
Weighted
Average
Ranking
Taste 1002 3.34 1st
Brand or name 1488 4.96 4th
Price 1459 4.86 3rd
Flavors 1340 4.47 2nd
Amount of servings 1491 4.97 5th
Presentation/Packaging 1768 5.89 7th
Nutritional content 1662 5.54 6th
The respondents were also asked how often they eat biscuit in order for
the researchers to at least have an idea of the demand for the product.
Determining how often the respondents, or the potential customers, buy biscuit
will tell if the demand for biscuit is consistent.
3.34
4.96
4.86
4.474.97
5.89
5.54
What factors you consider in buying biscuits?
TasteBrand or namePriceFlavorsAmount of servingsPresentation/PackagingNutritional content
**Ranked from lowest (first thing to consider) to highest (last thing to consider).
Some factors are considered by the respondents in buying biscuits. The
researchers will use this information to identify the points where they will have to
improve their product.
Will you consider trying a different taste of
biscuit aside from those already available in the
market?
No. of
respondents Percentage
Yes 232 77.27%
No 68 22.73%
TOTAL 300 100.00%
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Total Ranking (Taste) 1002
Divided by: Number of respondents 300
*Weighted Average 3.34
77.27%
22.73%
Will you consider trying a different taste of biscuit aside from those already available in
the market?
YesNo
To determine the potential customers are willing to experiment a variation
of biscuits, the researchers inquired if the respondents can try different flavors of
biscuits aside from those that are already available in the market.
Will you try biscuits made from vegetable
flour?
No. of
respondents Percentage
Yes 176 75.67%
No 56 24.33%
TOTAL 232 100.00%
The
researchers asked if the respondents will try biscuits made from vegetable flour
to tell if they are that health conscious.
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75.67%
24.33%
Will you try biscuits made from vegetable flour?
Yes
No
How much are you willing to pay for a 25g pack
of vegetable biscuit?
No. of
respondents Percentage
Php 6 96 41.59%
8 87 37.71%
10 30 13.12%
12 18 7.57%
TOTAL 232 100.00%
41.59%
37.71%
13.12%
7.57%
How much are you willing to pay for a 25g pack of vegetable biscuit?
Php 6.00Php 8.00Php 10.00Php 12.00
How much are you willing to pay for a 200g pack
of vegetable biscuit?
No. of
respondents Percentage
Php 45 101 43.59%
47 94 40.73%
49 30 12.96%
51 6 2.73%
TOTAL 232 100.00%
30
43.59%
40.73%
12.96%2.73%
How much are you willing to pay for a 200g pack of vegetable biscuit?
Php 45.00Php 47.00Php 49.00Php 51.00
The costing of the product is also considered by the researchers by asking
the respondents how much they are willing to pay for a particular serving of
vegetable biscuits. This will serve as their basis on up to what price the
researchers can sell their product that the customers are willing to buy.
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