CHAPTER-2.docx - LAGUNA COLLEGE OF BUSINESS AND ARTS 5...

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PAGE 5 LAGUNA COLLEGE OF BUSINESS AND ARTS COLLEGE DEPARTMENT Chapter 2 MARKET ASPECT Marketing is a societal process by which individuals and groups obtain what they need and wants through creating, offering and exchanging products product and service of value. It creates demand and gives the opportunity to develop new products for the satisfaction of customers. It is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges that satisfy both individual and organizational objectives. It is important to know and identify what kind of market the business dealing with. Though market study, one will be able to know what strategies in a business should be attained to meet the market demand and organization’s objectives. The market aspect is the most important part of the project feasibility study because it is composed of potential consumer who is willing and has the purchase or avail the product or service. It examines the demand for the project’s proposed outputs, the possible levels that they ought to be produced, and the price at which it may be sold and distinct characteristics of the projects identified market.
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PAGE 6 LAGUNA COLLEGE OF BUSINESS AND ARTS COLLEGE DEPARTMENT A. Product Description Product description refers to the benefits from presentation, price and purpose of the product. A product is anything that can be offered to a market for attention, acquisition, user or consumption to satisfy needs and wants. The product will be named “EGGPLANT PIZZA”. Eggplant Pizza is a trilogy on the run, it is developed to answer a customers need to eat and go without hassle of dripping and spilling on oneself. Vegetable breaches the most distant years of modern humankind. When hunters and gatherers existed in Africa they started spreading across the entire planet earth. As the birth of modern human civilizations, vegetables were identification as the source of great medicinal and nutritional power. Residents of Calamba City and its neighboring towns as well as motorists and passengers will be the customers of the proposed business. The proponents consider the individuals living in the City of Calamba with the age bracket of 15 to 60 years old to be target market. The proponents will offer pizza that has an aura of class and touch of decency. Customers usually have limited money and they are always reluctant to spend on those that wouldn’t satisfy them. So the key is to satisfy and encourage them to return after tasting our pizza.
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PAGE 7 LAGUNA COLLEGE OF BUSINESS AND ARTS COLLEGE DEPARTMENT B. Demand Analysis Demand analysis is importan t in determining the needs of the consumers and their capability to purchase the product of the business. This refers to a particular economic goods or services that customer is willing to purchase at a given price to perceive their particular needs and wants. It is the study of sales generated by goods
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