Embed
Email

fs.Market Study

Document Sample

Shared by: jen alburo
Stats
views:
4977
posted:
9/14/2009
language:
English
pages:
27
Market Study



This chapter covers the most important part of the project that intends to define the size, nature and growth of the demand for the product, description and price of the product, supply situation, nature of competition, different marketing factors affecting the market of the product and the marketing program needed.



A. Product/ Service Description



i. name Biba Lavandera Laundry Shop



signifies the sun and active operation



name of the business biba



signifies water and cleanliness name of the industry



(Figure 1.1. Biba Lavandera Logo) ii. Features/ Services Biba Lavandera offers services comprised of wash-dry-fold (WDF), wash, dry-press (WDP), pressing, dry cleaning and hand wash. It is an operator- based laundry shop that requires two employees to perform such operations.  Wash- Dry- Fold – It is comprised of machine washing, drying and folding for the customers. This will be done through the washing machines operated by the employee. After washing the clothes, it will be dried and then folded neatly to be bagged before the customer picks it up.



 Wash- Dry- Press- in this service, it is like the WDF service but differs on the end process. Before the folding, it will be pressed first to remove wrinkles. Customers can opt to have their clothes hanged instead of folded and bagged. It saves power consumption for the customers, plus the hassle of spending too much effort and time getting the clothes done  Pressing- In the pressing service, clothes are initially inspected and segregated according to the heat requirement. Then, clothes requiring higher heat temperatures are pressed first followed by clothes requiring medium to low heat. Clothes are folded subsequently after pressing. Lastly, clothes are segregated according to tag identification, bagged and prepared for pick up.  Dry Cleaning- In the Dry Cleaning process, the dry cleaning fluid will be placed on a basin, then the clothes will be immersed and soaked into the chemical for a minimum of 8 minutes but not exceeding 30 minutes, depending on the stain or dirt on the garment that has to be removed.  Hand Washing-. Hand washing as the traditional way of getting the dirty clothes cleaned is also available. However, this may require a longer time before the customer could claim the cleaned clothes because it has to be done manually. After the washing process, clothes will be segregated and folded according to tag identification. And, clothes will be bagged and prepared for pick-up.



iii. Major Users of the Product Majority of the potential customers falls under the category of housewives, women, ages 20 and above, living independently, those who are working and have no time to do the laundry. For the location of the business, major users are primarily individuals who belong to the mentioned demographics. Residents are mostly housewives that have no time for doing the laundry. Some users could be men, whose wives are working abroad (more often than not), and students living on their own.



Robinsons Homes subdivision is not a large village where high- end residents live like Forbes Park, Executive Village, Ayala Alabang Village and the like; thus, some residents in Robinsons Homes do not have their own house helpers and they need assistance in doing the laundries. They might have maids but important and delicate fabrics such as office wardrobes, dresses and other should be done professionally. Meticulous residents could entrust their clothes to Biba Lavandera laundry shop most especially when they are too busy to handle the chore.



B. Demand- Supply Analysis Demand This proposed project would provide the target market mostly composed of the residents of Robinsons Homes East Barangay San Jose Antipolo City. The residents usually come on weekends to have their clothes laundered for the weekdays and for special occasions. Biba Lavandera would be the favorable laundry shop in the village because of its location. It is located at the very heart of Robinsons Homes East. Unlike its competitor, Biba Lavandera has an excellent service quality that would leave their customers happy and satisfied. ● Primary Market Residents of Robinsons Homes East Parents, Employees, Students (18 and above) The customers of Biba Lavandera are the busy people residing near the village, primarily working parents, single employees and working students who do not have enough time to do their laundries on time because of their workload. Practically, these people have their clothes laundered which also saves them money and time. The total population of Robinsons Homes East is approximately 4000 and the number of household is 750. ● Secondary Market Residents outside Robinsons Homes East The households outside the Robinsons East Homes is 50.



The people who might be looking for Laundry shops might be aware of the store’s location by advertising campaigns of Biba Lavandera which is the tarpaulin outside the village gate, pamphlets and leaflets that will be distributed to the residents outside the village.



Total Market Area Potential =Potential customers x Number of weeks x Average price = (800) (52) (300) = 12,430,000



DEMAND PROJECTION FOR THE NEXT 5 YEARS Projected Years Previous Year’s Demand (a) Average Population Growth (b) =(a x 1.5%) 2009 2010 2011 2012 2013 12,480,000 12,667,200 12,857,208 13,050,066.12 13,245,817.11 187,200 190,008 192,858.12 195,750.99 198,687.26 Projected Yearly Demand (a + b) 12,667,200 12,857,208 13,050,066.12 13,245,817.11 13,444,504.37



The demand for laundry shop in the specified area is expected to increase by 1.5% yearly. Supply



At present, JM Laundry shop is the only competitor in the area. Since it is the only laundry shop in Robinsons Homes East, their market is very big and the demand in the area is very high. Because of this, the demand cannot be supplied. That’s why the establishment of Biba Lavandera on Robinsons Homes East will supply and meet the demands that cannot be solved by JM Laundry shop.



Nature of Competition



Laundry Shop



Location



Operating Hours



Estimated Meters Estimated Daily away Customers



JM Laundry Shop



Robinsons Homes East



Monday to Sunday 9:00-5:00 300 500 households



Estimated Supply



= No. of Customers x Number of Days x Average Price = (500) (52) (300) = 9,360,000



SUPPLY PROJECTION FOR THE NEXT 5 YEARS The supply for the laundry services are expected to increase 1.5% annually. Previous Year’s Year Supply (a) Average Population Growth (b) =(a x 1.5%) 2009 2010 2011 2012 2013 9,360,000 9,500,400 9,642,906 9,787,549.59 9,934,362.83 140,400 142,506 144,643.59 146,813.24 149,015.44 Projected Yearly Supply (a + b) 9,500,400 9,642,906 9,787,549.59 9,934,362.83 10,083,378.27



This is the estimated supply projection of JM Laundry Shop for the next 5 years



Biba Lavandera chose the nearest and local suppliers of raw materials and supplies such as 1 Ironing Board, 1 Weighing Scale, 4 Power Regulators, 1 Pair of Gloves, 1 Water Hose (50 ft.), 1 Water Tank, 2 Small Laundry Baskets, 6 Large Laundry Baskets, Hangers (Plastics), Calculator, Order Slips, Delivery Slips, Ballpens Mask, 1 File Organizer Rack, 1 Record Book,



Plastics for Clothes Bagging,24x40,23x26 24x60 which are needed in the shop operation to continuously provide the best service to the customers in an affordable price.



Demand and Supply Analysis



Year s



Demand (a)



Supply (b)



D-S Gap c = (a-b)



Percent Unsatisfied (d)= (c/a) (100%)



2009



12,480,000



9,360,000



3,120,000



25%



2010



12,667,200



9,500,400



3,166,800



25%



2011



12,857,208



9,642,906



3,214,302



25%



2012



13,050,066.12



9,787,549.59



3,262,516.53



25%



2013



13,245,817.11



9,934,362.83



3,311,454.28



25%



As time passess, more and more families find it more practical to have their laundies done on laundry shops, thus increasing the demand for laundry shops such as Biba Lavandera.



Based on the data gathered, there are 12,480,000 total Demand inside and outside Robinsons Homes East Antipolo City and the competitor can only supply 9,360,000 which means there is 3,120,000 or 25% unsatisfied demand on the year 2009.



C. 4 P’s Study



Product/ Service Biba Lavandera offers services, as mentioned above, wash-dry-fold (WDF), wash, drypress (WDP), pressing, dry cleaning and hand wash. It is an operator- based laundry shop that requires two employees to perform such operations.



Price The following list of prices is based on the survey conducted by the group and the competitor’s range of prices. WASH DRY FOLD Comforter Assorted T-shirts, shorts, blouse, socks, etc Price 45.00 /kg 25.00/kg HAND WASH hand washand press Barong (short or long sleeved) Long sleave (trouser) Coat PRESSING LIST Assorted T-shirts, shorts, blouse, socks, etc 30.00 DRY CLEANING Suit (2pcs. -Coat and DRYING - assorted 20.00/ kg Bed Sheets, Curtains, Towels 30.00/k g Seat Covers with Foam 45.00/k g Seat Covers w/o foam 30.00/k g pants Long Coat Coat-Large Coat- Medium Coat-Small Coat-kid Barong Pinya barong-Ordinary Polo Barong WDP 40.00 Wedding Gown Pants 220.00 140.00 120.00 110.00 100.00 100.00 90.00 80.00 450.00 75.00 Price List 220.00 Overall/Coat 55.00 75.00 40.00 40.00 40.00 55.00



Skirt-Long Skirt-small Skirt-Pleated Lady Coat Evening Dress Dress Ordinary - Long Lady Suit (2pcs) Dress Plain jacket-Ordinary Jacket Large



75.00 55.00 90.00 110.00 180.00 120.00 180.00 120.00 100.00 150.00



Jacket Medium Blouse Jumpsuit Coat w/o lining Barong Kid Large bkid med bkid small necktie cap



130.00 75.00 140.00 120.00 65.00 55.00 45.00 30.00 30.00



Place The business could be found in the Robinsons Homes East near the recreational center or the clubhouse. It is accessible to all the residents because it is adjacent to all the main streets. Demand for the service is highly visible on the location because the area is still developing. In the long- run, it is expected that another or more laundry shops will be put up in Robinsons Homes but still, Biba Lavandera is seen to be competitive and emerging in the market because the demand for the service is not fading. The land is still developing and more houses will be built in 5- 10 years from now. Also, more vacant houses are expected to be occupied by new home owners and tenants in the coming years. Inside the subdivision, Biba Lavandera looks forward to the town houses inside the subdivision. The row houses are the main target market of the business and placed in the area. However, through the advertising and promotions of Biba Lavandera, the residents from the town houses will be informed and persuaded to try the new laundry shop since there is only one competitor in the subdivision.



Vacant House and Lots (purple)



Town Houses (yellow)



Row Houses (green) Figure 2.1. Subdivions



Town house (yellow)- A multistory urban house, attached or detached, that is built close to the street and scaled similarly to surrounding houses.



Row house (green) - A multistory urban house built in a style that is consistent with, even replicating, that of adjoining houses; often built by the same architect and developer.



Vacant/ developing House and Lots (purple)- expected to be occupied in 3 years and developed some parts of the area in 5-10 years.



Promotions Advertising the business on its introductory stage requires an effort of attracting customers that are not into the use of laundry services. Print advertising such as leaflets and flyers will be used for the opening of the business with freebies on the first day. 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 yellow pages and creating a free website 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 blog hosting. Businesses today are more on advertising through the web in order to attract more customers who spend more time in front of their computers.



Leaflets and flyers Services Offered Price List (back) Company Address and Contact Number Business Hours Business Slogan



“Bidang bida sa Paglalaba”



Figure 2.2. Leaflets: front and back



Tarpaulin Business Name, Address, Contact No. Business Logo Business Hours Business Slogan



“Bidang bida sa Paglalaba” Services Offered



Figure 2.3. tarpaulin



In addition to the sales promotion technique, Biba Lavandera will be having a free membership card in order to avail the exclusive free 1 kilo for every 20 kilos of services that they acquired. In the long- run, membership can only be acquired if they have reached 100kilos of services from Biba Lavandera.



Website through Wordpress.com



Figure 2.4. Screenshot of the website



D. Factors Affecting the Market



Population Growth The growth of population affects the demand situation of the market. As the population increases, these should be a changing preference or needs of the customers. Robinsons Homes East is a very huge subdivision, and there are still lots that are still available and very affordable. In relationship to this, the growth of population in the premise is really high. That is why we believe that in the years to come, the demand for our service will increase and we already have the plans for that.



Income Changes This can affect the standard of living of demand situation of the market. Customers who have enough income will have the capacity to purchase a product, and those who don’t have enough income don’t have the capacity to buy. Most of the residents in our location are in capacity to avail our service, because according to the survey we had most of them have P10, 000.00 and above monthly salary, and also many of the household loved ones are working abroad. We are confident that our business will be a success because we have enough target audience who has the capacity to avail our service.



Preferences Customer’s preferences directly affect the demand situation of the market this include the quality, accessibility, of service you provide them and also the staffs’ excellent human relation. With this, we are proud to say that in our laundry shop, customers can avail a quality wash on their clothes, we can assure them that their clothes will be cleaned well, it will have a fresh scent and it will soft and comfortable. The staffs of our shop will have training on how to use the machines as well as how to communicate with our customers that’s why we guarantee our customers a good relation with our staffs.



Prices of Substitute Products Analysis on the prices of substitute products could give the business an idea on what types of products consumers can afford. Comparing of prices is the common analysis used by the consumers before availing the service they need, customers are given variety of choices in which they think would give them satisfaction with the just price. We consider this as one of the factors in our pricing and we also based our pricing on the survey we conducted and we know that our prices are really affordable.



Marketing Tool The effectiveness of the method of marketing tools used in the business really affects the market. Using these tools can attract attention of prospective customers to a business services— Biba Lavandera. The more effective the marketing tool used the, more the customers it draws, and with greater frequency. We used these tools as the marketing strategy of our business, which



includes such as leaflets, tarpaulin; we also created our website for the accessibility of the service we provide.



Factors Affecting Supply a.) Development of Substitute Products – this give consumers a wide variety of choices on their preferred product b.) Entry/Exit of Firm – Competitors existence and/or loss directly affects the market. If there would be fewer competitors, there’s a chance to win more portion of the market share. c.) Sources/Cause of Production Process – Sources of raw materials has large effect on cost of production. d.) Improved Technologies – Machines that are highly innovative needed for production help in the fast and more improved outputs or products which meet the satisfaction of the customer’s needs and wants.



E. Survey Results and Analysis of Data Gathered



All study should use relevant and reliable information as its basis. With this regard, the group employs different methods to collect needed information. The group used the descriptive method in the form of questionnaires to identify and understand customer’s needs and wants with regard to our proposed business. We first determined the total population of Robinsons Home East, Antipolo City where the proposed business will be located. The City Hall of Antipolo, Planning Office, provided us a copy of the Physical and Socio-Economic Profile of Robinsons Homes East. Robinsons Home East has a total population of 4,128 as of August 29, 2009. The population only covered ages 20-60, which is the age bracket of our business’ target market. The population size would be: 800 households.



N=



n



1 + n (e)2 Where: N = sample size n = population size e = margin of error



N=



800



1 + 800 (.05)2 N= 800



1 + 800 (0.0025) N= 800 1+2 N= 800 3 N = 266.67 or 267(no. of respondents) We handed out 267 questionnaires for the respondents using ―Sloven’s Formula‖ with a 5% margin of error.



1. How many are you in the family?



20



18 16

14 3



12 10

8



4 5 6



6 4

2



0 3 4 5 6



The chart shows that out of 267 respondents 40% are compose of 5 members in their family, both 22% are compose of 3 and 4 in their family and 16% are compose of 6 or more in their family. 2. How much is your monthly income



40



35 30 25 20

15



1000-3000



3000-6000 600010000 10000 above

1000-3000 3000-6000 6000-10000 10000 above



10 5 0



In the figure above shows that 72% of the respondents are earning P 10,000 above, 20% are earning within range of P 6,000-10,000, 6% are earning within P3,000-6,000 and only 2% are earning within P1,000-3,000.



3. Do you wash your own laundries?



40 35 30 25 20 15 10 5 0 Yes No We hire a "labandera" We have a maid



Yes



No



In above figure shows that out of 267 respondents there were no one hire a ―labandera‖ and have a maid to wash their clothes, 72% said they don’t wash their own clothes and only 26% said they wash their own clothes.



4. How often do you visit laundry shops?

20 18 16 14 12 10 8 6 4 2 0



Once or Twice a week Once or Twice a Month Weekends only



Almost Everyday Never



The chart shows how the respondents often visit laundry shops; out of 267 asks there is no one who never visit a laundry shop, 6% are almost visit laundry shop everyday, 16% are once or twice in a week, 30% are visits laundry shop on weekends only and 38% are once or twice in a month when visiting a laundry shop.



5.



How many laundry shops in your area do you visit?



30

25 20 One Two



15 10



Three

Four or more



5 0



One



Two



Three



Four or more



The chart above shows that 58% of the respondents only visit one laundry shop, 24% visits two laundry shops, 16% visits three laundry shops and 2% visits four or more laundry shops. 6. How much do you spend on laundry shops?



30 25



20 15 10

5 0



300 below 500 below



1000 below 1000 above



300 below



500 below



1000 below



1000 above



Above figure indicates how much the respondents spend on laundry shops; 4% said P1000 above, 16% said P1000 below, 20% said P500 below and 60% said P300 below.



7.



What made you decide to have your clothes cleaned through a laundry shop?



25



Affordable It's Practical

It saves time Quality of the result Others



20

15 10 5 0



The chart above shows out of 267 respondents 50% said that they choose laundry shops to wash their clothes because it saves time, 24% said because its practical, 12% said it’s affordable, 10% said because of the quality of the result and 6% said other reasons for choosing laundry shop to wash their clothes. 8. Are you satisfied with the work on the laundry shops you visit?



40

35 30 Satisfied



25 20 15

10 5



Very Satisfied

Fair



Not Satisfied

Satisfied Very Satisfied Fair Not Satisfied



0



The figure above shows that 76% of the respondents are satisfied with the work on the laundry shop they visit, 12% are very satisfied and both 6% are fair with the work on the laundry shop.



9. If a new laundry shop is to be put up, what do you think is the possible price/s acceptable to you?



20 18



16 14 12 10 8

6 4



20 per kilo 25 per kilo



30 per kilo 35 per kilo



2 0 20 per kilo 25 per kilo 30 per kilo 35 per kilo



The chart shows that out of 267 respondents 40% said that the possible price of the laundry to be put up must be P30 per kilo, 28% said it must be P25 per kilo, 18% said it must be 20% and 14% said it must be P35 per kilo.



10. Are you willing to try its service?

30

25



Yes

No Maybe



20

15 10 5 0



Not Sure



Yes



No



Maybe



Not Sure



According to question number 10 of the survey conducted on Robinson's Homes East, Antipolo City, 60% of the respondents will definitely try to have their clothes laundered on a new laundry shop if the opportunity arises. While 24% of the respondents might try to patronize



a new laundry shop that would be opened.But,10% of the respondents will not try a new laundry shop while 6% is not sure until the opportunity arises.



F. Marketing Program



Biba Lavandera Laundry Shop Marketing Plan I. Introduction The group decided to conduct a feasibility study for the sister of one of the members. The owner, Jenibe A. Bernil wants to put up a Laundry shop and needs to know if this will be viable enough in the subdivision where she resides. A laundry shop is intended because it is a recession- proof business and there is only one competitor inside the subdivision, Robinsons Homes. Biba Lavandera offers services which laundry shops offers but it differs on the quality and time of service, plus the friendly environment. It primarily aims to dominate the 50% of the market in its first year of operation and gain the loyalty of the customers, as well as to develop a good and positive image to achieve continuous flow of operation.



II. General Condition



SWOT Analysis SWOT Analysis for Biba Lavandera aims at identifying the strengths of the business that it could use to take advantage of the opportunities in the operating environment and to become aware of that business’ or services’ weaknesses and what threats to the operations can be found in the market and competitive environment.



Internal analysis and external business analysis of Biba Lavandera



Strengths Biba Lavandera uses an advanced technology for the services High profitability of the business because it is more accessible to the market and the owner is known because



Opportunities Development of the whole subdivision could give Biba Lavandera more opportunities to get a bigger market demand Demand for laundry business. the



of her other entities Faster and a more quality output is offered by Biba Lavandera The location of the place has been a business spot before The business is located at the main road Prices are relatively competitive and accords to what the residents want Less investment cost. laundry business does not need a large amount of capital Promotion strategies such as leaflets and website is a good one to attract not only the residents of Robinsons Homes but also the community outside the subdivision -



growth of the market and their lack of time washing their own clothes creates a high demand for Biba Lavandera and yet competitors do not satisfy a big portion of this damand growth. Accessibility. the location of the



business is easy to reach by the market Supplies accessibility. the supplies needed to operate business can easily get.



Weaknesses Lack of experience for the owner to manage a laundry shop since it is her first time to invest in this kind of industry Since Biba Lavandera uses advanced technologies, maintenance for the



Threats New laundry shops or competitors is a big threat to Biba Lavandera Price variation.



machines is quite hard to maintain and expensive



III. Competitive Condition



A. Market Description Biba Lavandera’s target market is mainly the residents of Robinsons Homes East, Antipolo City. These people have a fast track life where every minute counts that’s why they prefer to do things with practicality and with ease. Because of these, having their clothes laundered through laundry shops is one habit these people have recently acquired. The target market consists of employees, working mothers, working students and ordinary families inside the village. The residents may choose the laundry shops they prefer which give them the best quality they deserve. But Biba Lavandera offers a brand new approach on laundry shops unlike their competitors. Biba Lavandera treats its customers like their own family, thus the clothes they wash were treated like their own.



B. Product Review Biba Lavandera offers the following features:



1. Brand new washing machines and dryers, thus quality service is at its best.



2. Provide the best quality wash, dry, fold, press, handwashing and other services that Biba Lavandera offers.



3. Provide the best dry cleaning quality in the area.



4. Honest and timely service is expected from the employees of the laundry shop.



5. The store layout provides a friendly ambience which encourages its customers to go back again and again.



C. Competitive Review



There is only one competitor in the area which is JM Laundry Shop and the following services they offer are: 1. wash, dry, fold 2. wash, dry, press 3. pressing 4. hand washing



The competitor, JM Laundry Shop, offers almost the same services that Biba Lavandera offers, but because of the dry cleaning feature of Biba Lavandera, it has added source of income, not mentioning the lack of competition in the dry cleaning service. The services offered are almost the same with Biba Lavandera, except that the quality of service will be the asset of Biba Lavandera.



IV.



Market Research Results



The market research results have been determined through the survey conducted by the group inside Robinsons Homes. The results yield that there is a large market to be satisfied by an upcoming business and that makes Biba lavandera’s profitability. J & M Laundry shop is doing well in the market but it cannot accommodate the whole market demand. According to the residents, they are open to try a new laundry shop if there is an upcoming business. This gives a positive answer for the profitability of Biba Lavandera.



V. Sales and Distributions Plan



The major marketing strategy of Biba lavandera is the providing the service needed by the market. Biba Lavandera targets the households of the Robinsons Home East that do not have the time washing their own clothes and/ or needs assistance on heavy, delicate expensive fabrics that they have. And its secondary target consumers are the households outside the subdivision that cannot find a laundry shop which could provide a good quality service. The services will



give satisfaction to customers by means of washing, drying, folding and dry cleaning the clothes, towels, curtains, seat cover etc. Sales can be attained in transaction between business-toconsumers.



A. Positioning Biba Lavandera’s brand position could be achieved by providing the most affordable and good quality of laundry service. Satisfying the customers and getting their loyalty to the business is the focus of Biba lavandera. Accessability, affordability and good quality of service is also the market strategy of business.



B. Product strategy Biba lavandera will use a new machine that performs well and is taken as an advantage of the enterprise as it provides a good quality of service. Biba will make sure that every customer is satisfied for choosing them as their laundry shop.



C. Pricing strategy Pricing is based on the competitor’s prices and the market research results. Biba Lavandera makes sure that it provides a competitive price and is fair to the market. The business proposes a lower price than what the survey resulted, which is 30php, and decided to match it up with the price of the competitor which is 25php.



V. Advertising and Sales Promotion



A. Marketing and communication strategy



The marketing strategies that Biba Lavandera will use are mainly through the leaflets, tarpaulin and website.



A. Action Programs Leaflets will be distributed on Biba Lavandera’s first day of operation. It is expected to reach all the residents through placing the leaflets at the guard house/ main gate, clubhouse, schools and on their mailboxes. The tarpaulin is placed primarily in front of the store in order to attract passers- by and to help the people locate the exact business store. The website http://www.bibalavandera.wordpress.com is a blog- hosted website so it is free and does not add on the expenses. It just needs the expertise of someone to manage the site. And since the owner already owns a personal computer at home, there is no need to purchase a computer set for the business; also, the website is just for the publicity. On the 4th year of Biba Lavandera’s operation, a tricycle will be purchased to start the pick- up service. The business will extend its promotions into a pick- up and delivery service for the clothes directly to its owners inside the Robinsons Homes, with a minimum of 5 kilos. A membership card will also be used in the long- run in order to gain brand loyalty. Like for example, for every 20 kilos of service acquired, customers will get free 1 kilo of any service from Biba Lavandera.



-



B. Budget Summary



For the first year, the budget for tarpaulin and leafleting are the following: a. Tarpaulin b. Leafleting Total P P 1,800.00 600.00 2,400.00



G. Conclusions and Recommendations The market study determined the demand for the service through the thorough research on the residents of Robinsons Homes. The study conducted revealed the demand for the product and enabled the group to come up with an efficient marketing program that will support the viability of the business in its first stages of operation and expected to last in the long- run. Accordingly, 25% of the market demand is not able to satisfy by the competitor. The total market size yields a larger market for the competitor and thus, it needs more supply to meet the increasing demand of the residents of Robinsons Homes. Also, the on- going expansion and development of the subdivision depicts the increase on the demand that has to be met by the supply. Factors such as the preferences, income, population growth and prices favor for opening up a new business and opportunity for the residents to have an alternative. Demand on the location is highly visible and should be addressed through an effective marketing program. Putting up Biba Lavandera with the best quality output, optimal prices for the customers, and excellent promotional tools could meet such demand. Effectiveness of the business is seen through the response of the market on the survey that was conducted. People wanted to save their time from in doing the laundry and thus made them look for a more practical way of getting their dirty clothes done. The demand of the market is focused on the convenience and practicability of the service. Affordability comes secondary from the satisfaction that they get on saving time and effort. Almost all of the residents have a relatively high income and tend to be busy for their office works and other careers. So the demand for a service that could lessen their workload meets their expectations and satisfies their wants and needs. The marketing strategy for advertising and promotions is seen to be viable enough for attracting potential customers and probably define its edge from the competitor. Since Biba Lavandera is new and is at its introductory stage, the need for catchy and effective ads is a must. It should be highlighted not just because it attracts customers, but also it satisfies the people’s demand for a unique service. Generally, Biba Lavandera is seen to be feasible upon studying its location, market demand and the factors affecting the market. It is recommended that an extensive study for other aspects of the business feasibility is conducted and the execution of the marketing program developed accords to what really satisfies the market.





Other docs by jen alburo
fs.tech
Views: 732  |  Downloads: 42
fs.Project Summary
Views: 247  |  Downloads: 3
fs.Market Study
Views: 4974  |  Downloads: 95
sponsorship letter
Views: 282  |  Downloads: 11
fs.financial
Views: 723  |  Downloads: 50
questionnaire
Views: 187  |  Downloads: 5
fs.Socio-economic
Views: 504  |  Downloads: 24
fs.Technical Feasibility
Views: 865  |  Downloads: 30
updated feasib
Views: 349  |  Downloads: 25
fs.Organization and Management Study
Views: 3232  |  Downloads: 56
By registering with docstoc.com you agree to our
privacy policy

You are almost ready to download!

You are almost ready to download!