CHAPTER 1

INTRODUCTION

The Business Concept and the Business Model

The business concept must contain the essence of the enterprise in a concise but powerful

manner. The main goal of this is to give a value of the product offering to target customers who

would most likely buy it. Then through the marketing plan, it can express the details about the

projected market which is (10%) of the senior high students of STI College Lucena and the other

left percent will be for the faculty members and college students. It is about introducing the

product to the market and for those who are not yet familiar with the offered product. It can be

possible that the innovative product will catch the consumer's attention because people are

interested in products that are new to their eyes, in short, unique yet interesting.

This business is a small scale food business or a stall which is assigned to create and sell

products to its target market such as senior high students, college students and even faculty

members in STI college Lucena, STI Academic Center Lucena, Quezon Avenue corner Perez St.

Lucena City. For the business to raise its revenues: First, be practical, find or look for cheaper

ingredients and materials that will be used in the business but make sure that it is in high quality

and won't harm the health of its consumers. Second, entrepreneurs need to consider the

appearance and presentation of the product (packaging, designing, quality, and taste). Third, use

social media like Facebook, Instagram, and Twitter through this online presentation the existence

of the product can be recognized and can be a way to gain customers' attention. Fourth, create

some attractive flyers, it can be a big help in making the product popular. Lastly, personal

campaign, room to room announcements and even just a simple promotion to persons that you
will bump on. The critical factor that will cause the revenues to materialize is the proper

managing of the business.

Moreover, the pricing strategy that the business will implement is called a cost-plus pricing

strategy. It is solved by computing the suggested retail price by adding the cost per yield,

marginal profit and labor cost.

Besides, the critical factors that will affect the cost and the factor to control are: First, the proper

way of managing the business. Second, the checking and balancing the record of all accounts

made. Lastly is the sales inventory and monitoring of the business all the time. The costing of

this business depends on the number of expenses. The approximate amount of investment is

worth P10, 000. 00. The edge of an organization's investment is that it is advisable to invest in

the business because it can promise that the business will grow and gain profit. The group

finances the business through cooperative. The members of the organizations provide an equal

amount of money and fair when it comes to decision making. Aside from that, the profit that will

be gain by the business can be used or the growth of the business.

Goals

The business goal is to get the attention of the target market, to provide high-quality products

that will give the consumers happiness and at the same time for them to love the product.

Vision

To be one of the leading suppliers of high-quality meals with a friendly budget cost that will gain

the customer's attention and to be one of the well-known suppliers of affordable meals that will

give the consumer's satisfaction.

The business “Patarne" will provide and sell meals inside the campus of STI College

Lucena. The business will be more dedicated to handling the business to give the customers what

they are looking for. Through the innovation of this product, it will continuously develop to meet

the standards in having a long-term business success and to gain profit successfully.

Objectives

The following are the marketing objectives:

 To continuously improve and innovate existing products related to the business's first

product.

 To be known as one of the biggest suppliers of meal products through highly

recommended products with an attainable price.

 To create long term relationships with the consumers and employees to make the

business grow and have an inspirational story to everyone who will be attracted to the

business.

Performance targets

The following are the expected performance:

 To gain back the investment.

 To gain at least 25% of the initial budget.

 Achieve sales growth of 5% per month.

Patarne is a meal and a combination of potato and ground meat. It is made by mush potato, add

seasonings to the ground meat, then, combine it to create an appealing outcome of the product

"Patarne”. And also it will provide unique sauce that will perfectly match the taste of the

patarne. The business can be found in STI College Lucena, STI Academic Center Lucena,

Quezon Avenue corner Perez St. Lucena City.

Justifications

The business sells meals called patarne a combination of potato and ground meat, deep-fried

provided with a different sauce. However, this product is not yet popular in the market so it can

attract customers who like to try something new and unique to other products out there because it

is an innovation. In this case, currently, there is no canteen at STI College Lucena but it can gain

the attention of students and some faculty members who don't like to go out and eat outside. The

expected benefits of this business plan are having a systematic idea on what should a business

possess when it comes in competing with other existing business and the threat of competition

with other brands may cause the business to fall. The pricing objective of the company is to

survive the market and get the maximum profit and when it comes to product pricing, the

business used a cost-plus strategy to sell the product and be competitive in terms of the selling

price.