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TATER BITES
____________________
A product proposal presented to the Faculty of Senior High School Department
Pamantasan ng Cabuyao
____________________
In partial fulfilment of the requirements for the
subject Research Project
____________________
By
CATHRYN LEIA P. ALEJANDRE FRANCESCA AGATHA R. EURABA JENINA PAULINE B. HUCEÑA RAIZA MAE M. SAMSON
January 2019
CHAPTER 1 THE PRODUCT AND ITS BACKGROUND
Introduction Potatoes are indeed a popular food meant for everyone. Be it an appetizer or a side dish as mashed potatoes, snacks as French fries or potato chips, or even as a constituent on viands. As time goes by, in this generation, snacks made with potato are becoming ballyhoo especially the French fries, the batonnet-cut deep-fried potatoes. People of all ages love this kind of snack that comes in different flavors. Since this kind of snack is 'in' for everyone, they keep on patronizing it. However, there are so much more snacks to be made from potatoes like chips and such. There will always be something new out of things that people are used to that could also satisfy their cravings. In the study of Brazaite and Abromaitiene (2018), 70% of Asians aged 19-25 years old are consuming boiled potatoes one to three times a week and 30% are consuming it four to seven times. As for the fried potatoes, 15% are not eating those kinds for a week, 50% are consuming one to three times, 30% are four to seven times and 5% are eating it several times in a week. Hence, this proves that potatoes are really favored by people and an ideal ingredient in making a snack. As potatoes are ranked third most consumed and produced crop following rice and wheat, it is eaten or added in recipes in various forms (Anwar, 2015). In its nutrition aspect, this is because potatoes are high sources of Vitamin C that helps to support the body’s immune system and serves as an antioxidant in the body, which make it perfect for one's diet. According to Karttunen (2011), food security always focuses on the availability, access, stability and utilization, hence, people at all times should have an access to a sufficient, safe and nutritious food lead to preferences for an active and healthy life. And even though they wanted to-go snacks, they should consider what the food is made of so that they're still aware of their fitness. In India, potatoes became a popular ingredient for its cuisine, delicacies and snacks. According to Selvamani (2018), a food snack in India named samosa became well-known because of its variety of boiled, fried and
mashed potato filled with minced cheese, garlic, meat and the like. Since people could have choices, the snack boomed in the place aside from the fact that is made with a vegetable. Southeast Asian countries mainly use potatoes as ingredients for snacks, dishes and bread making and is continuously being utilized as the years pass (Whitehead, 2016). Due to the large amount of availability of potato resources in the region, people keep on patronizing it not worrying about the consumption and sustained its delicious food with potatoes. In line with this, Philippines are one of the countries in Southeast Asia which is rich in land and nature. According to Roman and Russell (2009), the country is one of those having high supply of potatoes, hence, its citizens make use of potatoes in their dishes, be it with those conventional dishes influenced by other countries due to colonization or local cuisine. For instance, adobo, would be much better if cooked with potatoes. Aside from being an extra on meal courses, potatoes can also be a food that is mainly eaten, preferably as a treat. Therefore, the proponents of this feasibility study wanted to make something out of potatoes that could serve as an appetizer, a snack and a viand, and introduce a whole new product that has not been really popular with the people in the form of potato balls.
Product As a rising characteristic and trend has made its way to the world of food, the proponents noticed the venturesome characteristic of people nowadays. Trying out food that is made of unexpected combinations of ingredients, according to Cooper (2013), is a different and typical tend to catch the attention of people. Applying to different aspects even in the world of food, people are now becoming food venturous.
With food venture becoming a trend, the proponents found an opportunity for business. Ideas came running and the proponents being adventurous, came up with Tater Bites. Tater Bites are as unique as the uncommon food which can be eaten as a snack, side dish and even a viand. It is a deep-fried mashed potato with creamy cheese and ground beef squeezed altogether inside as filling, covered with bread crumbs. The pleasing golden brown color, the crisp of the outer layer and the yummy filling will surely satisfy the consumers and its food venturous soul.
Significance of the Study This study is destined to be beneficial to the following: Existing Players. The study can add information on what are the possible ways of enhancing their products and strategies in making it more demandable to the consumers that may improve their management in this type of business. Future Proponents. The study can provide them knowledge to guide them in making their own output and may serve as their reference on how creativity plays important role in the market. They may enhance their talents and skills in producing improved and pioneering studies in the future.
Definition of Terms To better understand this study, the researchers provided the following terms which were conceptually and operationally defined: Appetizer. This is the term used for a food that simulates the appetite before people start eating. Business. This refers to an operation the proponents wanted to establish in the aim of earning profit. Cravings. This refers to the want of a person to eat something. Cuisine. This is the term used for the famous food or meals in a certain place. Delicacies. This refers to the food that is a trade mark of a specific location. Food venture. This is the term used for a person's being dauntless in its endeavour of finding kinds of food that is new to its taste. Market. This is the term used wherein there are buyers and sellers of the same type of product or industry. Opportunity. This refers to the set of circumstances that would make earning a profit possible for the proponents. Players. This is the term used for those businesses in the same industry. Product. This is the term used for the proposed output of the proponents in this feasibility study. Tater Bites. This is the specific name of the product the proponents will try to make. To-go snacks. This refers to food that could be brought and eaten while on the road without requiring a place to be put. Trend. This is the term used to define the rising popularity of a food in a certain place and span of time. Venturesome. This refers to a person's willingness to take risks in trying something new.
CHAPTER 2 TECHNICAL ASPECT
The potato product presented by the proponents of this feasibility study will benefit consumers at any cost, as recounted in the anterior chapter. In this chapter, the description of the product and how it is made will be further explained, as well as the equipment and materials needed and the production plan for the product. This is to elaborate the technical details about the proposed product. Also, the benefits of the product are pointed out in this chapter for clearer comprehension.
Product Specification
Ground beef and Cheese
Mashed Potato
Outer Layer
A. Outer layer. It is the crunchy outer most part of the product which is made of flour, egg and breadcrumbs. B. Mashed potato. It serves as the cover and the main ingredient of the product.
C. Ground beef and cheese. These make the product unique from the others and enhance the taste of the product, making it tastier. Tater Bites is a crunchy, adorable and heavenly food product. It is a formed mashed potatoes with cheese and ground beef in the inside, deep fried and coated with bread crumbs. Sauce is also provided for additional touch which is teriyaki sauce. The teriyaki sauce balances the taste of the product. It is a salty-sweet and sour sauce that has a tangy smell and, a thick and sticky texture.
Equipment and Materials The equipment used for the making of the product are the following:
1. Bowl
This is a deep dish used as a container and for mixing needed ingredients.
2. Chopping board
This is a tough board made with wood where ingredients needed to be cut or peeled are placed for chopping.
3. Fork
This is a utensil with tines used in different ways in product making.
4. Frying pan
This is a flat-bottomed pan used for frying or deep frying the ingredients and the main product.
5. Knife
This is a tool used for cutting, peeling or mincing needed ingredients.
6. Plate
This is a flat, round dish used where the ingredients are placed for the making of the product.
7. Saucepan
This is a deep cooking pan used in boiling needed ingredients and making the sauces.
8. Spatula
This is a blunt-blade, broad and flat kitchen tool used for mixing ingredients.
9. Spoon
This is a roundhead utensil used for mixing and scooping needed ingredients.
10.
Stove
This is a kitchen appliance fuelled with liquefied petroleum gas that is used to cook food.
11.
Strainer
This is a kitchen device used to drain the ingredients or separate the solid ingredients from the liquid ones.
12.
Table
This is flat furniture where the ingredients are placed for preparation and the making process.
13.
Tongs
This is a kitchen tool used to grip and lift objects instead of the hands for sanitary and safety purposes.
Meanwhile, the materials and ingredients used in the process of product making are as follows: 1. Bread crumbs
These are bits of crunched bread used to make the product crispier.
2. Brown sugar
This is a condiment added to sauces to achieve the desired taste.
3. Cheese
This is a dairy product used as a filling for the potato balls.
4. Cooking oil
This is a fat used to fry or deep fry the needed ingredients.
5. Ground Beef
This is a fresh meat used as a filling for the potato balls.
6. Corn starch
This is a powdered ingredient used to achieve the desired consistency or thickness of the sauce.
7. Disposable gloves
These are plastic gloves used in preparing and making the product to avoid food contamination.
8. Eggs
These are poultry products cracked and beaten to be used as a coating for the potato balls.
9. Flour
This is a powdered ingredient used as a coating for the potato balls.
10.
Garlic
This is a vegetable used to add flavor to the sauces.
11.
Ginger
This is a vegetable also used to add flavor to the sauces.
12.
Honey
This is syrup used to add flavor to the sauces.
13. gas
Liquefied petroleum
This is a gas used to fuel the stove in order to cook the product.
14.
Paper plates
This will serve as a container for the finished product.
15.
Pepper
This is a condiment used to add flavor to the sauces.
16.
Potatoes
This is a vegetable which is the main ingredient of the product.
17.
Salt
This is a condiment used also to add flavor to the sauces.
18.
Soy sauce
This is a condiment used to make the teriyaki sauce.
19.
Water
This is a liquid used generally in creating the product.
Product Manufacturing Tater Bites is a product that is aimed to be served as a quality product that will mesmerize the consumers all throughout. Creating the product, there are different procedures that are done during the manufacturing process. For the main product, the following are the procedures for making it: 1. Prepare all the ingredients, equipment and materials needed for the product itself. 2. Wash all the ingredients that are needed to be washed. 3. Boil the potatoes together with a little bit of salt to add some flavour to the potatoes. Put the stove in a medium heat and boil the potatoes for 20 minutes. 4. Peel and mash the potatoes. Add some spices to taste. Mix well.
5. Set your stove in low heat and sauté the ground beef in a little amount of cooking oil. Set aside. 6. Get a certain amount of mashed potato then add a cubed-size cheese and the desired amount of ground beef. Make it a large cubed-sized figure making sure that the cheese and ground beef are all inside. 7. Roll it in flour, beaten egg and bread crumbs. Set aside. 8. Deep fry the potatoes into cooking oil, making sure that the inner layers are cooked. Wait until the outer layer turns to golden brown. 9. Serve the product with sauce.
For the teriyaki sauce, the following are the steps to make: 1.
Prepare all the ingredients, equipment and materials needed for the sauce.
2.
Set the stove into low heat and sauté the minced garlic and ginger for a span of 1 minute, until your desired aroma is released.
3.
Combine all the wet ingredients and let it simmer of about five minutes. Add a certain amount of corn starch mixture to achieve your desired consistency and thickness.
4.
Drain the sauce to remove excess garlic and ginger.
5.
Serve the sauce with a product.
Production Timeline
Tater bites producti on 1-Aug
Actual Pl a nni ng
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
6-Aug
11-Aug
16-Aug
21-Aug
26-Aug
31-Aug
1-Sep
6-Sep
11-Sep
16-Sep
21-Sep
16-Oct
21-Oct
26-Sep
Actual Pl anni ng
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Ma ki ng
1-Oct
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Ma ki ng
6-Oct
11-Oct
26-Oct
31-Oct
3-Nov
8-Nov
13-Nov
18-Nov
23-Nov
28-Nov
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
1-Dec
6-Dec
11-Dec
16-Dec
21-Dec
26-Dec
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
The figures presented above aim to show the production schedule for the next four consecutive months. The preparing of equipment and the gathering of ingredients happens on the same day and the making of the
31-Dec
product follows. The supply of ingredients needed for the whole month is bought at once on the start of the first week and stored for processing for the next few weeks of the month.
Product Benefits This product is anticipated to be beneficial in the following aspects: Health. Potatoes are naturally nutritious; it offers various types vitamins such as: 1. Vitamin C that acts as an antioxidant that prevents cellular damage and helps to support the immune system. 2. Fiber that helps to lower blood cholesterol and weight loss. 3. Vitamin B6 that helps the body to produce nonessential amino acids that helps body to make body proteins. 4. Potassium that helps regulate fluids and mineral balance, maintain normal blood pressure and it is vital in transmitting nerve impulses that helps muscles contract. Affordability. The product can be bought by set, 3 pieces for 20 pesos. In this set the end user can be easily satisfied by its incredible taste. According to the study of Balderjahnet al. (2018), the spending of financial resources should not exceed and should be sustainable. Therefore, Tater Bites is a product that is affordable and is worth the money someone spends. Satisfaction. The product gives the end users a sense of fulfilment from consuming Tater Bites. It could satisfy one’s craving in different ways to eat it. May it be a snack, viand, side dish, etc. It also provides satisfaction through being different from the usual products sold and eaten by many.
CHAPTER 3 MARKETING ASPECT
In this chapter, the way how the proponents conducted their marketing survey was shown, as well as the analysis that is made from the answers of the respondents or their target market. Also, its projected demand and supply are identified so as to estimate the needed quantity of the product. Furthermore, the target market is segmented into the different aspects of it. The strategies that the proponents were going to make to promote their product are also presented in this chapter.
Market Survey A survey was conducted by the proponents to know their target market and the projected demand and supply of the product. It is also used for knowing the improvements and strategies that are needed in their product to increase return and customers The survey questionnaire used a scaling of 4 point-Likert Scale which has four parts. The respondents have to assess the product in terms of its
taste, appearance, name and price. In each category have another 3 subcategories that are needed to be considered. In taste, the product’s flavor, consistency and satiation are evaluated. The flavor indicates the appeal of the taste of the product. Consistency is the consistency of the quality of the taste while satiation defines the satisfaction of the respondents to the product. Base on its appearance, the size, packaging and its appeal are to be graded. The product size is the respondents’ satisfaction to the presented size of the product. Packaging is the appeal of the product packaging to the respondents. Appeal is the total appearance of the product for the respondents and if the product is appetizing enough to eat. In terms of its name, the three subcategories that are needed to be assessed are its appeal, relevance and recall and the enunciation of the name. The appeal indicates the positive impact of the name of the product. Relevance and recall means retaining of the products name in the minds of the respondents. Enunciation is the way how the name of the product is pronounced. Lastly, the price of the product has affordability, value for money and the overall value of the product to the customers. Affordability is ability of the customers to buy the product. Value for money pertains to the worthiness of the buying the product. The overall value is the significant value of buying the product with the given price. The said categories are to be graded based on the given scale which has 4 as the highest point and 1 as the lowest point. These scales are to be interpreted as Excellent, Good, Poor, and Very Poor which Excellent is the highest possible rate while Very Poor is the lowest possible rate.
Market Analysis Market analysis is a way of assessing the market in qualitative and quantitative manner. It measures the projected size of the market in terms of volume and value. This is important for the proponents to know whether their product could be feasible into their target market. In line with this, the proponents conducted a marketing survey in order to distinguish if their market would be appropriate for their product which happened on September 27, 2018.
It is the intent of this study to present the assessment of the products as taste, appearance, product name and price as evaluated by the students and faculty of Pamantasan ng Cabuyao. The presentation of the results can be seen in tables 1, 2, 3, 4. Table 1 shows the assessment of the product in terms of its taste. 1. The Assessment of the Taste of the Product
Table 1 The Assessment of the Taste of the Product INDICATORS Taste 1. Flavour 2. Consistency 3. Satiation General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.60 3.45 3.25 3.43
Excellent Good Good Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.43 which was interpreted as "Good". The "Flavour" has the highest mean of 3.60 interpreted as "Excellent". However, "Satiation" has the least mean which is 3.43 interpreted as "Good". Table 2 shows the assessment of the product in terms of its appearance. 2. The Assessment of the Appearance of the Product Table 2 The Assessment of the Appearance of the Product
INDICATORS Appearance 1. Product Size 2. Packaging 3. Appeal General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.40 3.07 3.33 3.27
Good Good Good Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.27 which was interpreted as "Good". The "Product Size" has the highest mean of 3.40 interpreted as "Good". However, "Packaging" has the least mean which is 3.07 interpreted as "Good". Table 3 shows the assessment of the product in terms of its product name. 3. The Assessment of the Name of the Product
Table 3 The Assessment of the Name of the Product INDICATOR Product Name
VI
X
1. Appeal 2. Relevance 3. Enunciation General Assessment
3.57 3.41 3.43 3.47
Excellent Good Good Good
Legend 3.50-4.00 Excellent 2.50-3.49 Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.47 which was interpreted as "Good". The "Appeal" has the highest mean of 3.57 interpreted as "Excellent". However, "Relevance" has the least mean which is 3.41 interpreted as "Good". Table 4 shows the ratings of the product in terms of its price. 4. The Assessment of the Price of the Product Table 4
The Assessment of the Price of the Product INDICATORS Price 1. Affordability 2. Value for Money 3. Overall Value General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.56 3.54 3.55 3.55
Excellent Excellent Excellent Excellent
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.55 which was interpreted as "Excellent". The "Affordability" has the highest mean of 3.56 interpreted as "Excellent". However, "Value for Money" has the least mean which is 3.57 interpreted as "Excellent". The tables shown above presented the results of the survey conducted which shows that it has a general composite mean of 3.43 which was interpreted as "Good". Projected Demand The intent of this study is to present the projected or initial demand of the product. Percentage was used to get the total number of people who are willing to buy the product, as out of 135 respondents, 127 people said "Yes" which connotes that 9.4 persons over 10 people will buy the product. This is interpreted as 94% of the target market, which implies "Excellent".
Projected Supply As 127 out of 135 respondents said "Yes" to the marketing survey, this should be able to formulate the projected supply of the product. 21 of the respondents answered they will "Always" buy the product, which is interpreted as 16% of the target market. 73 of them answered “Often” which is interpreted as 54%. On the other hand, 33 of them answered “Seldom” which is interpreted as 24%. In line with this, the initial demand of the product would be the sum of those who answered “Always” and “Seldom”, which is 94 persons. Those who
answered “Never”, which were eight people, will serve as the buffer stock of the product. To make it exact, the supply would be 110 with 16 buffer stock.
Market Segmentation
Gender Segmentation Femal e; 33.33%
Mal e; 66.67%
Mal e
Fema l e
The study intends to present how the market was segmented. The market was segmented according to gender and age. The product targeted students and teachers from Pamantasan ng Cabuyao. As shown on the chart above, the number of males who said they will buy the product is greater than females. This is due to more number of males in the class than females.
Age Range
20-25; 7.09%
15-19; 92.91% 15-19
20-25
As the product targeted students and faculty members of the school, the ages ranged from 15-19 years old and 20-25 years old. The biggest quantity is from students aged 15-19 years old due to the big number of students than faculty members.
Marketing Strategy Every business should have a competitive advantage in order to succeed and gain profit. Some of marketing strategies of Tater Bites in order to encourage customers are mentioned hereinafter. The first one is to make an advertising video and record about the product, making it create its value just like the commercial in televisions and radios. For the advertising video, this will be posted in different social media platforms. Next is to give freebies for the first few customers during the grand opening of the stall. It will be given immediately after the purchase of the product, as this will be announced before the day of opening. Third, is to post the opening of the stall in social media sites such Facebook, Messenger, Twitter, Instagram, etc. This is to update those who are around the vicinity area. The posts will not only be for the opening but will be done in a daily basis, in order to persuade customers to buy the product. Fourth, is offering promos in set and bulk orders in order to encourage customers to buy more of the product.
Those are the Tater Bites’ visualized strategies in order to be successful and help every person in the community to choose the right product of their choice. Aside from the advertisement mention above, Tater Bites will make a packaging that is eco-friendly such as paper plates. The taste of the product will also be improved by following the right amount of the ingredients. It will be made from the time the customer’s order it so that it would be served fresh from the stove. The person in-charge of the stall will wear his personal protective clothing such as apron, hair net and gloves to meet the people’s perception, and also the proponents’ desire, for a safe and healthy environment.
CHAPTER 4 FINANCIAL ASPECT
This chapter presents the financial part of this study. The costing of the materials and how much of these are used in production will be shown in this aspect, as well as the value of the product produced every month. Also, the projected financial statements for the product are indicated in this chapter to show if this product would be feasible.
Material Costing The potato product offered by the proponents will be prepared daily as these would make the product better for the target consumers. There will be 110 pieces that would be produced every day and the proponents will include 16 pieces for the buffer stock. This will be produced by batch. In line with this, the costing of the materials that will be used for the product is shown hereinafter.
MATERIALS QUANTITY UNIT COST TOTAL COST Good Life 1 pack Php 32.00 Php 32.00 bread crumbs Eden cheese 2 boxes Php 45.00 Php 90.00 Cooking oil 1 bottle Php 21.00 Php 21.00 Corn starch 1/8 kg. Php 40.00 Php 5.00 Eggs 2 pcs. Php 6.00 Php 12.00 Flour 1/2 kg. Php 40.00 Php 20.00 Garlic 1 pc. Php 5.00 Php 5.00 Ginger 1pc. Php 5.00 Php 5.00 Potatoes 3 kg. Php 90.00 Php 270.00 Datu Puti 1 sachet Php 7.00 Php 7.00 Soy sauce Ground beef ¼ kg Php 280.00 Php 70.00 Based on the costing that was shown above, the total production price for the product which will be produced daily is Php 537.00, which in estimation could cover up over 42 servings. Financial Statements To monitor the supposed flow of money and financial state of the business, the financial statements projected by the proponents for the fivemonth operation starting from August to December 2018 are shown below.
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable
Tater Bites Trial Balance As of August 31, 2018 Php 16,209.00 4,700.00 5,537.50 1,210.00 Php
2,350.00 20,000.00 20,000.00
13,790.00 203.50 700.00 Php 42,350.00
Php 42,350.00
Tater Bites Trial Balance As of September 30, 2018 Php 26,513.00 4,700.00 940.00 2,645.10 Php
2,350.00 20,000.00 46,200.00
31,854.90 497.00 1,400.00 Php 68,550.00
Php 68,550.00
Tater Bites Trial Balance As of October 31, 2018 Php 29,218.50 4,700.00 3,322.50 2,165.15 Php
2,350.00
Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
20,000.00 64,300.00 44,334.85 809.00 2,100.00 Php 86,650.00
Php 86,650.00
Tater Bites Trial Balance As of November 30, 2018 Php 37,330.00 4,700.00 1,855.00 892.95 Php
2,350.00 20,000.00 87,900.00
60,607.05 1,065.00 3,800.00 Php 110,250.00
Php 110,250.00
Tater Bites Trial Balance As of December 31, 2018 Php 40,926.50 4,700.00 1,227.50 275.10 Php 73,224.90 1,346.00 4,500.00 Php 126,200.00
Php 126,200.00
Tater Bites Adjusted Trial Balance
20,000.00 106,200.00
For the year ended December 31, 2018 Cash Php 35,329.00 Store Equipment 4,700.00 Store Supply 1,227.50 Ending Inventory 275.10 Sheba, Capital Php Sales Cost of Goods 73,224.90 Sold Utilities Expense 1,346.00 Rent Expense 4,500.00 Supplies Expense 5,597.50 Total Php Php 126,200.00 126,200.00
20,000.00 106,200.00
At the month of August, the proponents started up their business and did different strategies. In that way, they have sold their products regularly and achieved their desired profit and sales. For a starting business, this depicts that the product is patronized by the target market. Also, as for the expenses, the proponents are renting a small area in front of the school and paying its regular bills. The supplies are for recording purposes, packaging and liquefied petroleum gas. The equipment used by the proponents were bought, paid the half and credited the other to be able to reserve cash for production. The cost of goods sold sums up for the number of servings they sell a day, and the ending inventory is for the remaining ingredients that are not used for the month. For the month of September, the business raised its sales since it also increased its cost of goods sold because the product has been already known around the area. Thus, other students try it also, making the proponents produce more of its product. One of the proponents had her debut party and included their product as a snack. This way, the normal sales of the business increased. As for the expense, the rent remains the same for the month, as well as for the next months. For the utilities, the expense increase a bit because of the additional time in the production. The cost of goods sold sums up for the number of plates they sell a day, and the ending inventory is for the remaining ingredients that are not used for the month. At the month of October, the business had the additional orders made by those students who had their defense. Since it is semestral break, the number of students going to school are lesser thus there are less much
customers, but there are some who still completes their requirements so the business will go on. As for the utilities, the expense went higher due to the sudden increase of electricity rate per kilowatt hour. For the month of November, as it is still semestral break, lesser students would come but as the enrolment comes by, the proponents managed to catch up with their loss. Students came back on patronizing their product. The expense for utilities lessened for the month as the rent remained the same. At the month of December, since the Christmas break is near, the proponents thought of how they could catch up to their monthly quota in advance. In line with that, they decided to offer their products in bulk orders for the upcoming year-end parties of the students and faculty members. As many students and faculty members have patronized it, they have raised their sales and managed to fill up for their supposed loss for the month. There was also a record for the ending inventory which is to be used the following year, and the expense for utilities lessened for the month because the number of days of production were lessened. The proponents were also able to pay their credited equipment from the first month of production. The remaining supplies will be also used for the next year’s operation. There have been adjustments for the month, which is the supplies expense, the total the cost of supplies for the whole year.
Tater Bites Statement of Comprehensive Income As of December 31, 2018 Sales
Php
120 000.00 (82 107.60)
Less: Cost of Goods Sold Gross Profit
Php
37 892.40
Less: Operating Expenses Utilities Expense Rent Expense Supplies Expense Net Income
Php
2 932.50 5 000.00 6 167.50
Php Php
(14 100.00) 23 792.40
For the statement of comprehensive income, the sales of Php 120,000.00 were deducted by the cost of goods sold for five months to attain the gross profit. The operating expenses such as rent, supplies and utilities, were then deducted from the gross profit to get the net income of Php 23 792.40. This means that the business that the proponents are trying to build will be feasible since it is not a loss. The owners successfully maintained the profit they want to achieve.
For the statement of financial position, the assets were cash, office supplies, equipment’s and the ending inventory. There are also no liabilities since they paid it at the right time and at the same time, the proponents were eager to dilute the said liabilities. With the owner's capital and the net income, it sums up as same with the assets. This means that proponents followed the right equation of the balance sheet which is Assets = Liabilities + Owners Equity. Tater
Tater Bites Statement of Comprehensive Income As of December 31,2018
Bites Assets
Cash Store Equipment Store Supplies Ending Inventory Total Assets Equity Sheba, Capital
Php 547.40
35
2,350.00 657.50 17 237.50 Php 792.40 Php 000.00
55
32 23
Net Income Total Equity
792.40 Php 792.40
55
Cash Flow Statement
Cash Beginning
As of December 31, 2018 Php 000.00
32
Cash Flow from Operating Activities Cash Inflow 120 000.00
Sales Less Cash Outflow Cost of Goods Sold Php
82 107.60 Utilities Expense
2 932.50
Rent Expense
5 000.00
Store Equipment
2 350.00
Store Supplies Supplies Expense Ending Inventory
657.50 6 167.50 (116 452.60)
17 237.50
3 547.40
Net Cash Flow Add
32 000.00
Cash Beginning Php Cash End
35 547.40
For the cash flow statement, the cash beginning was the owner's capital. There are only operating activities for this small-scale business. The cash inflow were sales, and the cash outflow was the total expenses which are the cost of goods sold, utilities expense, rent expense, supplies expense and the ending inventory. As for the net cash flow, it was the difference of
the cash inflow and the cash outflow. Net cash flow will be added to the cash beginning, so it would sum up as the cash end which is the same as the cash balance for the month of December. This means all the expenses and income were correctly computed and written.
Chapter 5 Conclusion and Recommendations This chapter presents the conclusions drawn from the interpretation of the market analysis and after analysing the data gathered from the respondents. This chapter also includes the recommendations the researcher found out after the market survey and analysis all throughout the study.
Conclusion After the interpretation and analysis of the gathered data, the proponents concluded that: 1. The taste of the product brought satisfaction to the target market. It was assessed in three terms namely: Flavor which has a general mean of 3.60 interpreted as “Excellent”; Consistency which has a general mean of 3.45 interpreted as “Good”; and Satiation which has a general mean of 3.25 interpreted as “Good”. Overall, the Taste of the product has a general mean of 3.43 which is interpreted as “Good”. 2. The appearance of the product brought satisfaction to the target market. It was assessed in three terms namely: Product Size which has a general mean of 3.40 interpreted as “Good”; Packaging which has a general mean of 3.07 interpreted as “Good”; and Appeal which has a general mean of 3.33 interpreted as “Good”. Overall, the Appearance of the product has a general mean of 3.27 which is interpreted as “Good”. 3. The name of the product brought satisfaction to the target market. It was assessed in three terms namely: Appeal which has a general mean of 3.57 interpreted as “Excellent”; Relevance which has a general mean of 3.41 interpreted as “Good”; and Enunciation which has a general mean of 3.43 interpreted as “Good”. Overall, the Name of the product has a general mean of 3.47 which is interpreted as “Good”. 4. The price of the product brought satisfaction to the target market. It was assessed in three terms namely: Affordability which has a general mean of 3.56 interpreted as “Excellent”; Value for Money which has a general mean of 3.54 interpreted as “Excellent”; and Overall Value which has a general mean of 3.55 interpreted as “Excellent”. Overall, the Price of the product has a general mean of 3.55 which is interpreted as “Excellent”. Recommendations Based on the findings of the study, the proponents suggested the following recommendations:
1. The product should be tested in other locations and target markets to see if it will also be feasible. 2. The business should try expanding its stores in other places which do not have stores for the same product. 3. The product should improve to have a longer shelf life. 4. The business should try to sell their franchise to interested businessmen. 5. The product should have variety of sauces for the consumers to enjoy. 6. Add other potato products to be served and see if it could also be feasible. 7. Try to partner the product with drinks and see if it could also be feasible. 8. Further studies seeking if the cost of the product could be lessened without sacrificing its quality.
REFERENCES
Daniuseviciute-Brazaite, L., & Abromaitiene, L. (2018). Evaluation of students’ dietary behaviours depending on gender. PROGRESS IN NUTRITION, 20(1), 21-29. Hüttel, A., Ziesemer, F., Peyer, M., & Balderjahn, I. (2018). To purchase or not? Why consumers make economically (non-) sustainable consumption choices. Journal of Cleaner Production, 174, 827-836. SELVAMANI, M. K. Role of Indian Cuisine in International Cullinary.
APPENDIX A Certificate of Quantitative Data Treatment
This certifies that the Senior High School feasibility study entitled, TATER BITES conducted by Cathryn Leia P. Alejandre, Jenina Pauline Basallote, Francesca Agatha R. Euraba and Raiza Mae M. Samson, whose research design was Quantitatve, had been subjected to, Quantitative Data Treatment utilizing Statistical Package for Social Sciences (SPSS) with software license number __________ at Pamantasan ng Cabuyao by the undersigned.
JEREMY PAUL E. GECOLEA, MBA Quantitative Analyst, Pamantasan ng Cabuyao
APPENDIX B Certificate of Grammar Editing
This certifies that the Senior High School feasibility study entitled TATER BITES conducted by Cathryn Leia P. Alejandre, Jenina Pauline Basallote, Francesca Agatha R. Euraba, and Raiza Mae M. Samson, whose research design was quantitative, had been subjected to Grammar Editing at Pamantasan ng Cabuyao by the undersigned.
BABAYARAN NG 300 Grammar Editor, Pamantasan ng Cabuyao
CURRICULUM VITAE
Alejandre, Cathryn Leia P. Accountancy, Business and Management Block 95 Lot 49 Phase 1 Mabuhay City Mamatid, Cabuyao, Laguna 09956682834 [email protected] PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: September 29, 2001 Manila 16 years old Female Single 5’1 Roman Catholic
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
Saint Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2017
Primary Name of School
:
School Address Year Graduated
: :
Saint Matthew Montessori and Science High School Mamatid, Cabuyao, Laguna 2013
CURRICULUM VITAE
Euraba, Francesca Agatha R. SHS- Accountancy, Business and Management Phase 3 Executive Mabuhay City Mamatid, Cabuyao, Laguna 09955591266 [email protected]
PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: September 11, 2000 San Pedro, Laguna 18 years old Female Single 5’1 Methodist
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
Pulo National High School Pulo, Cabuyao, Laguna 2017
Primary Name of School School Address Year Graduated
: : :
Sacred Heart of Jesus and Mary School Mamatid, Cabuyao, Laguna 2013
Basallote, Jenina Pauline SHS – Accountancy, Business and Management Blk 4 Lot 5 Mabuhay Homes Ph2E Barangay Dila, City of Sta. Rosa, Laguna
09434365891 [email protected] PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : :
March 31, 2001 : Biñan, Laguna 16 years old Female Single : 5”4 Christian
:
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
:
Name of School School Address
: :
Year Graduated Primary Name of School School Address
:
Year Graduated
:
: :
Pamantasan ng Cabuyao Katapatan Homes Barangay Banay-Banay, City of Cabuyao, Laguna : Accountancy, Business, and Management S.Y. 2018-2019 Cabuyao Integrated National High School Limcaoco Street, Barangay. III, City of Cabuyao, Laguna S.Y. 2016-2017 Cabuyao Central Elementary School Osmeña Street, Barangay. III, City of Cabuyao, Laguna S.Y. 2012-2013
CURRICULUM VITAE
Samson, Raiza Mae M. SHS- Accountancy, Business and Management #234 Mamatid, Cabuyao, Laguna 09453842313 [email protected]
PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: May 06, 2001 Calamba, Laguna 17 years old Female Single 4’11 Roman Catholic
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
St. Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2017
Primary Name of School School Address Year Graduated
: : :
St. Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2013
____________________
A product proposal presented to the Faculty of Senior High School Department
Pamantasan ng Cabuyao
____________________
In partial fulfilment of the requirements for the
subject Research Project
____________________
By
CATHRYN LEIA P. ALEJANDRE FRANCESCA AGATHA R. EURABA JENINA PAULINE B. HUCEÑA RAIZA MAE M. SAMSON
January 2019
CHAPTER 1 THE PRODUCT AND ITS BACKGROUND
Introduction Potatoes are indeed a popular food meant for everyone. Be it an appetizer or a side dish as mashed potatoes, snacks as French fries or potato chips, or even as a constituent on viands. As time goes by, in this generation, snacks made with potato are becoming ballyhoo especially the French fries, the batonnet-cut deep-fried potatoes. People of all ages love this kind of snack that comes in different flavors. Since this kind of snack is 'in' for everyone, they keep on patronizing it. However, there are so much more snacks to be made from potatoes like chips and such. There will always be something new out of things that people are used to that could also satisfy their cravings. In the study of Brazaite and Abromaitiene (2018), 70% of Asians aged 19-25 years old are consuming boiled potatoes one to three times a week and 30% are consuming it four to seven times. As for the fried potatoes, 15% are not eating those kinds for a week, 50% are consuming one to three times, 30% are four to seven times and 5% are eating it several times in a week. Hence, this proves that potatoes are really favored by people and an ideal ingredient in making a snack. As potatoes are ranked third most consumed and produced crop following rice and wheat, it is eaten or added in recipes in various forms (Anwar, 2015). In its nutrition aspect, this is because potatoes are high sources of Vitamin C that helps to support the body’s immune system and serves as an antioxidant in the body, which make it perfect for one's diet. According to Karttunen (2011), food security always focuses on the availability, access, stability and utilization, hence, people at all times should have an access to a sufficient, safe and nutritious food lead to preferences for an active and healthy life. And even though they wanted to-go snacks, they should consider what the food is made of so that they're still aware of their fitness. In India, potatoes became a popular ingredient for its cuisine, delicacies and snacks. According to Selvamani (2018), a food snack in India named samosa became well-known because of its variety of boiled, fried and
mashed potato filled with minced cheese, garlic, meat and the like. Since people could have choices, the snack boomed in the place aside from the fact that is made with a vegetable. Southeast Asian countries mainly use potatoes as ingredients for snacks, dishes and bread making and is continuously being utilized as the years pass (Whitehead, 2016). Due to the large amount of availability of potato resources in the region, people keep on patronizing it not worrying about the consumption and sustained its delicious food with potatoes. In line with this, Philippines are one of the countries in Southeast Asia which is rich in land and nature. According to Roman and Russell (2009), the country is one of those having high supply of potatoes, hence, its citizens make use of potatoes in their dishes, be it with those conventional dishes influenced by other countries due to colonization or local cuisine. For instance, adobo, would be much better if cooked with potatoes. Aside from being an extra on meal courses, potatoes can also be a food that is mainly eaten, preferably as a treat. Therefore, the proponents of this feasibility study wanted to make something out of potatoes that could serve as an appetizer, a snack and a viand, and introduce a whole new product that has not been really popular with the people in the form of potato balls.
Product As a rising characteristic and trend has made its way to the world of food, the proponents noticed the venturesome characteristic of people nowadays. Trying out food that is made of unexpected combinations of ingredients, according to Cooper (2013), is a different and typical tend to catch the attention of people. Applying to different aspects even in the world of food, people are now becoming food venturous.
With food venture becoming a trend, the proponents found an opportunity for business. Ideas came running and the proponents being adventurous, came up with Tater Bites. Tater Bites are as unique as the uncommon food which can be eaten as a snack, side dish and even a viand. It is a deep-fried mashed potato with creamy cheese and ground beef squeezed altogether inside as filling, covered with bread crumbs. The pleasing golden brown color, the crisp of the outer layer and the yummy filling will surely satisfy the consumers and its food venturous soul.
Significance of the Study This study is destined to be beneficial to the following: Existing Players. The study can add information on what are the possible ways of enhancing their products and strategies in making it more demandable to the consumers that may improve their management in this type of business. Future Proponents. The study can provide them knowledge to guide them in making their own output and may serve as their reference on how creativity plays important role in the market. They may enhance their talents and skills in producing improved and pioneering studies in the future.
Definition of Terms To better understand this study, the researchers provided the following terms which were conceptually and operationally defined: Appetizer. This is the term used for a food that simulates the appetite before people start eating. Business. This refers to an operation the proponents wanted to establish in the aim of earning profit. Cravings. This refers to the want of a person to eat something. Cuisine. This is the term used for the famous food or meals in a certain place. Delicacies. This refers to the food that is a trade mark of a specific location. Food venture. This is the term used for a person's being dauntless in its endeavour of finding kinds of food that is new to its taste. Market. This is the term used wherein there are buyers and sellers of the same type of product or industry. Opportunity. This refers to the set of circumstances that would make earning a profit possible for the proponents. Players. This is the term used for those businesses in the same industry. Product. This is the term used for the proposed output of the proponents in this feasibility study. Tater Bites. This is the specific name of the product the proponents will try to make. To-go snacks. This refers to food that could be brought and eaten while on the road without requiring a place to be put. Trend. This is the term used to define the rising popularity of a food in a certain place and span of time. Venturesome. This refers to a person's willingness to take risks in trying something new.
CHAPTER 2 TECHNICAL ASPECT
The potato product presented by the proponents of this feasibility study will benefit consumers at any cost, as recounted in the anterior chapter. In this chapter, the description of the product and how it is made will be further explained, as well as the equipment and materials needed and the production plan for the product. This is to elaborate the technical details about the proposed product. Also, the benefits of the product are pointed out in this chapter for clearer comprehension.
Product Specification
Ground beef and Cheese
Mashed Potato
Outer Layer
A. Outer layer. It is the crunchy outer most part of the product which is made of flour, egg and breadcrumbs. B. Mashed potato. It serves as the cover and the main ingredient of the product.
C. Ground beef and cheese. These make the product unique from the others and enhance the taste of the product, making it tastier. Tater Bites is a crunchy, adorable and heavenly food product. It is a formed mashed potatoes with cheese and ground beef in the inside, deep fried and coated with bread crumbs. Sauce is also provided for additional touch which is teriyaki sauce. The teriyaki sauce balances the taste of the product. It is a salty-sweet and sour sauce that has a tangy smell and, a thick and sticky texture.
Equipment and Materials The equipment used for the making of the product are the following:
1. Bowl
This is a deep dish used as a container and for mixing needed ingredients.
2. Chopping board
This is a tough board made with wood where ingredients needed to be cut or peeled are placed for chopping.
3. Fork
This is a utensil with tines used in different ways in product making.
4. Frying pan
This is a flat-bottomed pan used for frying or deep frying the ingredients and the main product.
5. Knife
This is a tool used for cutting, peeling or mincing needed ingredients.
6. Plate
This is a flat, round dish used where the ingredients are placed for the making of the product.
7. Saucepan
This is a deep cooking pan used in boiling needed ingredients and making the sauces.
8. Spatula
This is a blunt-blade, broad and flat kitchen tool used for mixing ingredients.
9. Spoon
This is a roundhead utensil used for mixing and scooping needed ingredients.
10.
Stove
This is a kitchen appliance fuelled with liquefied petroleum gas that is used to cook food.
11.
Strainer
This is a kitchen device used to drain the ingredients or separate the solid ingredients from the liquid ones.
12.
Table
This is flat furniture where the ingredients are placed for preparation and the making process.
13.
Tongs
This is a kitchen tool used to grip and lift objects instead of the hands for sanitary and safety purposes.
Meanwhile, the materials and ingredients used in the process of product making are as follows: 1. Bread crumbs
These are bits of crunched bread used to make the product crispier.
2. Brown sugar
This is a condiment added to sauces to achieve the desired taste.
3. Cheese
This is a dairy product used as a filling for the potato balls.
4. Cooking oil
This is a fat used to fry or deep fry the needed ingredients.
5. Ground Beef
This is a fresh meat used as a filling for the potato balls.
6. Corn starch
This is a powdered ingredient used to achieve the desired consistency or thickness of the sauce.
7. Disposable gloves
These are plastic gloves used in preparing and making the product to avoid food contamination.
8. Eggs
These are poultry products cracked and beaten to be used as a coating for the potato balls.
9. Flour
This is a powdered ingredient used as a coating for the potato balls.
10.
Garlic
This is a vegetable used to add flavor to the sauces.
11.
Ginger
This is a vegetable also used to add flavor to the sauces.
12.
Honey
This is syrup used to add flavor to the sauces.
13. gas
Liquefied petroleum
This is a gas used to fuel the stove in order to cook the product.
14.
Paper plates
This will serve as a container for the finished product.
15.
Pepper
This is a condiment used to add flavor to the sauces.
16.
Potatoes
This is a vegetable which is the main ingredient of the product.
17.
Salt
This is a condiment used also to add flavor to the sauces.
18.
Soy sauce
This is a condiment used to make the teriyaki sauce.
19.
Water
This is a liquid used generally in creating the product.
Product Manufacturing Tater Bites is a product that is aimed to be served as a quality product that will mesmerize the consumers all throughout. Creating the product, there are different procedures that are done during the manufacturing process. For the main product, the following are the procedures for making it: 1. Prepare all the ingredients, equipment and materials needed for the product itself. 2. Wash all the ingredients that are needed to be washed. 3. Boil the potatoes together with a little bit of salt to add some flavour to the potatoes. Put the stove in a medium heat and boil the potatoes for 20 minutes. 4. Peel and mash the potatoes. Add some spices to taste. Mix well.
5. Set your stove in low heat and sauté the ground beef in a little amount of cooking oil. Set aside. 6. Get a certain amount of mashed potato then add a cubed-size cheese and the desired amount of ground beef. Make it a large cubed-sized figure making sure that the cheese and ground beef are all inside. 7. Roll it in flour, beaten egg and bread crumbs. Set aside. 8. Deep fry the potatoes into cooking oil, making sure that the inner layers are cooked. Wait until the outer layer turns to golden brown. 9. Serve the product with sauce.
For the teriyaki sauce, the following are the steps to make: 1.
Prepare all the ingredients, equipment and materials needed for the sauce.
2.
Set the stove into low heat and sauté the minced garlic and ginger for a span of 1 minute, until your desired aroma is released.
3.
Combine all the wet ingredients and let it simmer of about five minutes. Add a certain amount of corn starch mixture to achieve your desired consistency and thickness.
4.
Drain the sauce to remove excess garlic and ginger.
5.
Serve the sauce with a product.
Production Timeline
Tater bites producti on 1-Aug
Actual Pl a nni ng
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
6-Aug
11-Aug
16-Aug
21-Aug
26-Aug
31-Aug
1-Sep
6-Sep
11-Sep
16-Sep
21-Sep
16-Oct
21-Oct
26-Sep
Actual Pl anni ng
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Ma ki ng
1-Oct
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Ma ki ng
6-Oct
11-Oct
26-Oct
31-Oct
3-Nov
8-Nov
13-Nov
18-Nov
23-Nov
28-Nov
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
1-Dec
6-Dec
11-Dec
16-Dec
21-Dec
26-Dec
Prepari ng of Equi pments
Gatheri ng of Ingredi ents
Product Maki ng
The figures presented above aim to show the production schedule for the next four consecutive months. The preparing of equipment and the gathering of ingredients happens on the same day and the making of the
31-Dec
product follows. The supply of ingredients needed for the whole month is bought at once on the start of the first week and stored for processing for the next few weeks of the month.
Product Benefits This product is anticipated to be beneficial in the following aspects: Health. Potatoes are naturally nutritious; it offers various types vitamins such as: 1. Vitamin C that acts as an antioxidant that prevents cellular damage and helps to support the immune system. 2. Fiber that helps to lower blood cholesterol and weight loss. 3. Vitamin B6 that helps the body to produce nonessential amino acids that helps body to make body proteins. 4. Potassium that helps regulate fluids and mineral balance, maintain normal blood pressure and it is vital in transmitting nerve impulses that helps muscles contract. Affordability. The product can be bought by set, 3 pieces for 20 pesos. In this set the end user can be easily satisfied by its incredible taste. According to the study of Balderjahnet al. (2018), the spending of financial resources should not exceed and should be sustainable. Therefore, Tater Bites is a product that is affordable and is worth the money someone spends. Satisfaction. The product gives the end users a sense of fulfilment from consuming Tater Bites. It could satisfy one’s craving in different ways to eat it. May it be a snack, viand, side dish, etc. It also provides satisfaction through being different from the usual products sold and eaten by many.
CHAPTER 3 MARKETING ASPECT
In this chapter, the way how the proponents conducted their marketing survey was shown, as well as the analysis that is made from the answers of the respondents or their target market. Also, its projected demand and supply are identified so as to estimate the needed quantity of the product. Furthermore, the target market is segmented into the different aspects of it. The strategies that the proponents were going to make to promote their product are also presented in this chapter.
Market Survey A survey was conducted by the proponents to know their target market and the projected demand and supply of the product. It is also used for knowing the improvements and strategies that are needed in their product to increase return and customers The survey questionnaire used a scaling of 4 point-Likert Scale which has four parts. The respondents have to assess the product in terms of its
taste, appearance, name and price. In each category have another 3 subcategories that are needed to be considered. In taste, the product’s flavor, consistency and satiation are evaluated. The flavor indicates the appeal of the taste of the product. Consistency is the consistency of the quality of the taste while satiation defines the satisfaction of the respondents to the product. Base on its appearance, the size, packaging and its appeal are to be graded. The product size is the respondents’ satisfaction to the presented size of the product. Packaging is the appeal of the product packaging to the respondents. Appeal is the total appearance of the product for the respondents and if the product is appetizing enough to eat. In terms of its name, the three subcategories that are needed to be assessed are its appeal, relevance and recall and the enunciation of the name. The appeal indicates the positive impact of the name of the product. Relevance and recall means retaining of the products name in the minds of the respondents. Enunciation is the way how the name of the product is pronounced. Lastly, the price of the product has affordability, value for money and the overall value of the product to the customers. Affordability is ability of the customers to buy the product. Value for money pertains to the worthiness of the buying the product. The overall value is the significant value of buying the product with the given price. The said categories are to be graded based on the given scale which has 4 as the highest point and 1 as the lowest point. These scales are to be interpreted as Excellent, Good, Poor, and Very Poor which Excellent is the highest possible rate while Very Poor is the lowest possible rate.
Market Analysis Market analysis is a way of assessing the market in qualitative and quantitative manner. It measures the projected size of the market in terms of volume and value. This is important for the proponents to know whether their product could be feasible into their target market. In line with this, the proponents conducted a marketing survey in order to distinguish if their market would be appropriate for their product which happened on September 27, 2018.
It is the intent of this study to present the assessment of the products as taste, appearance, product name and price as evaluated by the students and faculty of Pamantasan ng Cabuyao. The presentation of the results can be seen in tables 1, 2, 3, 4. Table 1 shows the assessment of the product in terms of its taste. 1. The Assessment of the Taste of the Product
Table 1 The Assessment of the Taste of the Product INDICATORS Taste 1. Flavour 2. Consistency 3. Satiation General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.60 3.45 3.25 3.43
Excellent Good Good Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.43 which was interpreted as "Good". The "Flavour" has the highest mean of 3.60 interpreted as "Excellent". However, "Satiation" has the least mean which is 3.43 interpreted as "Good". Table 2 shows the assessment of the product in terms of its appearance. 2. The Assessment of the Appearance of the Product Table 2 The Assessment of the Appearance of the Product
INDICATORS Appearance 1. Product Size 2. Packaging 3. Appeal General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.40 3.07 3.33 3.27
Good Good Good Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.27 which was interpreted as "Good". The "Product Size" has the highest mean of 3.40 interpreted as "Good". However, "Packaging" has the least mean which is 3.07 interpreted as "Good". Table 3 shows the assessment of the product in terms of its product name. 3. The Assessment of the Name of the Product
Table 3 The Assessment of the Name of the Product INDICATOR Product Name
VI
X
1. Appeal 2. Relevance 3. Enunciation General Assessment
3.57 3.41 3.43 3.47
Excellent Good Good Good
Legend 3.50-4.00 Excellent 2.50-3.49 Good
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.47 which was interpreted as "Good". The "Appeal" has the highest mean of 3.57 interpreted as "Excellent". However, "Relevance" has the least mean which is 3.41 interpreted as "Good". Table 4 shows the ratings of the product in terms of its price. 4. The Assessment of the Price of the Product Table 4
The Assessment of the Price of the Product INDICATORS Price 1. Affordability 2. Value for Money 3. Overall Value General Assessment Legend 3.50-4.00 Excellent 2.50-3.49 Good
VI
X
3.56 3.54 3.55 3.55
Excellent Excellent Excellent Excellent
1.50-2.49 Poor 1.00-1.49 Very Poor
It has a general mean of 3.55 which was interpreted as "Excellent". The "Affordability" has the highest mean of 3.56 interpreted as "Excellent". However, "Value for Money" has the least mean which is 3.57 interpreted as "Excellent". The tables shown above presented the results of the survey conducted which shows that it has a general composite mean of 3.43 which was interpreted as "Good". Projected Demand The intent of this study is to present the projected or initial demand of the product. Percentage was used to get the total number of people who are willing to buy the product, as out of 135 respondents, 127 people said "Yes" which connotes that 9.4 persons over 10 people will buy the product. This is interpreted as 94% of the target market, which implies "Excellent".
Projected Supply As 127 out of 135 respondents said "Yes" to the marketing survey, this should be able to formulate the projected supply of the product. 21 of the respondents answered they will "Always" buy the product, which is interpreted as 16% of the target market. 73 of them answered “Often” which is interpreted as 54%. On the other hand, 33 of them answered “Seldom” which is interpreted as 24%. In line with this, the initial demand of the product would be the sum of those who answered “Always” and “Seldom”, which is 94 persons. Those who
answered “Never”, which were eight people, will serve as the buffer stock of the product. To make it exact, the supply would be 110 with 16 buffer stock.
Market Segmentation
Gender Segmentation Femal e; 33.33%
Mal e; 66.67%
Mal e
Fema l e
The study intends to present how the market was segmented. The market was segmented according to gender and age. The product targeted students and teachers from Pamantasan ng Cabuyao. As shown on the chart above, the number of males who said they will buy the product is greater than females. This is due to more number of males in the class than females.
Age Range
20-25; 7.09%
15-19; 92.91% 15-19
20-25
As the product targeted students and faculty members of the school, the ages ranged from 15-19 years old and 20-25 years old. The biggest quantity is from students aged 15-19 years old due to the big number of students than faculty members.
Marketing Strategy Every business should have a competitive advantage in order to succeed and gain profit. Some of marketing strategies of Tater Bites in order to encourage customers are mentioned hereinafter. The first one is to make an advertising video and record about the product, making it create its value just like the commercial in televisions and radios. For the advertising video, this will be posted in different social media platforms. Next is to give freebies for the first few customers during the grand opening of the stall. It will be given immediately after the purchase of the product, as this will be announced before the day of opening. Third, is to post the opening of the stall in social media sites such Facebook, Messenger, Twitter, Instagram, etc. This is to update those who are around the vicinity area. The posts will not only be for the opening but will be done in a daily basis, in order to persuade customers to buy the product. Fourth, is offering promos in set and bulk orders in order to encourage customers to buy more of the product.
Those are the Tater Bites’ visualized strategies in order to be successful and help every person in the community to choose the right product of their choice. Aside from the advertisement mention above, Tater Bites will make a packaging that is eco-friendly such as paper plates. The taste of the product will also be improved by following the right amount of the ingredients. It will be made from the time the customer’s order it so that it would be served fresh from the stove. The person in-charge of the stall will wear his personal protective clothing such as apron, hair net and gloves to meet the people’s perception, and also the proponents’ desire, for a safe and healthy environment.
CHAPTER 4 FINANCIAL ASPECT
This chapter presents the financial part of this study. The costing of the materials and how much of these are used in production will be shown in this aspect, as well as the value of the product produced every month. Also, the projected financial statements for the product are indicated in this chapter to show if this product would be feasible.
Material Costing The potato product offered by the proponents will be prepared daily as these would make the product better for the target consumers. There will be 110 pieces that would be produced every day and the proponents will include 16 pieces for the buffer stock. This will be produced by batch. In line with this, the costing of the materials that will be used for the product is shown hereinafter.
MATERIALS QUANTITY UNIT COST TOTAL COST Good Life 1 pack Php 32.00 Php 32.00 bread crumbs Eden cheese 2 boxes Php 45.00 Php 90.00 Cooking oil 1 bottle Php 21.00 Php 21.00 Corn starch 1/8 kg. Php 40.00 Php 5.00 Eggs 2 pcs. Php 6.00 Php 12.00 Flour 1/2 kg. Php 40.00 Php 20.00 Garlic 1 pc. Php 5.00 Php 5.00 Ginger 1pc. Php 5.00 Php 5.00 Potatoes 3 kg. Php 90.00 Php 270.00 Datu Puti 1 sachet Php 7.00 Php 7.00 Soy sauce Ground beef ¼ kg Php 280.00 Php 70.00 Based on the costing that was shown above, the total production price for the product which will be produced daily is Php 537.00, which in estimation could cover up over 42 servings. Financial Statements To monitor the supposed flow of money and financial state of the business, the financial statements projected by the proponents for the fivemonth operation starting from August to December 2018 are shown below.
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable
Tater Bites Trial Balance As of August 31, 2018 Php 16,209.00 4,700.00 5,537.50 1,210.00 Php
2,350.00 20,000.00 20,000.00
13,790.00 203.50 700.00 Php 42,350.00
Php 42,350.00
Tater Bites Trial Balance As of September 30, 2018 Php 26,513.00 4,700.00 940.00 2,645.10 Php
2,350.00 20,000.00 46,200.00
31,854.90 497.00 1,400.00 Php 68,550.00
Php 68,550.00
Tater Bites Trial Balance As of October 31, 2018 Php 29,218.50 4,700.00 3,322.50 2,165.15 Php
2,350.00
Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Accounts Payable Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
Cash Store Equipment Store Supply Ending Inventory Sheba, Capital Sales Cost of Goods Sold Utilities Expense Rent Expense Total
20,000.00 64,300.00 44,334.85 809.00 2,100.00 Php 86,650.00
Php 86,650.00
Tater Bites Trial Balance As of November 30, 2018 Php 37,330.00 4,700.00 1,855.00 892.95 Php
2,350.00 20,000.00 87,900.00
60,607.05 1,065.00 3,800.00 Php 110,250.00
Php 110,250.00
Tater Bites Trial Balance As of December 31, 2018 Php 40,926.50 4,700.00 1,227.50 275.10 Php 73,224.90 1,346.00 4,500.00 Php 126,200.00
Php 126,200.00
Tater Bites Adjusted Trial Balance
20,000.00 106,200.00
For the year ended December 31, 2018 Cash Php 35,329.00 Store Equipment 4,700.00 Store Supply 1,227.50 Ending Inventory 275.10 Sheba, Capital Php Sales Cost of Goods 73,224.90 Sold Utilities Expense 1,346.00 Rent Expense 4,500.00 Supplies Expense 5,597.50 Total Php Php 126,200.00 126,200.00
20,000.00 106,200.00
At the month of August, the proponents started up their business and did different strategies. In that way, they have sold their products regularly and achieved their desired profit and sales. For a starting business, this depicts that the product is patronized by the target market. Also, as for the expenses, the proponents are renting a small area in front of the school and paying its regular bills. The supplies are for recording purposes, packaging and liquefied petroleum gas. The equipment used by the proponents were bought, paid the half and credited the other to be able to reserve cash for production. The cost of goods sold sums up for the number of servings they sell a day, and the ending inventory is for the remaining ingredients that are not used for the month. For the month of September, the business raised its sales since it also increased its cost of goods sold because the product has been already known around the area. Thus, other students try it also, making the proponents produce more of its product. One of the proponents had her debut party and included their product as a snack. This way, the normal sales of the business increased. As for the expense, the rent remains the same for the month, as well as for the next months. For the utilities, the expense increase a bit because of the additional time in the production. The cost of goods sold sums up for the number of plates they sell a day, and the ending inventory is for the remaining ingredients that are not used for the month. At the month of October, the business had the additional orders made by those students who had their defense. Since it is semestral break, the number of students going to school are lesser thus there are less much
customers, but there are some who still completes their requirements so the business will go on. As for the utilities, the expense went higher due to the sudden increase of electricity rate per kilowatt hour. For the month of November, as it is still semestral break, lesser students would come but as the enrolment comes by, the proponents managed to catch up with their loss. Students came back on patronizing their product. The expense for utilities lessened for the month as the rent remained the same. At the month of December, since the Christmas break is near, the proponents thought of how they could catch up to their monthly quota in advance. In line with that, they decided to offer their products in bulk orders for the upcoming year-end parties of the students and faculty members. As many students and faculty members have patronized it, they have raised their sales and managed to fill up for their supposed loss for the month. There was also a record for the ending inventory which is to be used the following year, and the expense for utilities lessened for the month because the number of days of production were lessened. The proponents were also able to pay their credited equipment from the first month of production. The remaining supplies will be also used for the next year’s operation. There have been adjustments for the month, which is the supplies expense, the total the cost of supplies for the whole year.
Tater Bites Statement of Comprehensive Income As of December 31, 2018 Sales
Php
120 000.00 (82 107.60)
Less: Cost of Goods Sold Gross Profit
Php
37 892.40
Less: Operating Expenses Utilities Expense Rent Expense Supplies Expense Net Income
Php
2 932.50 5 000.00 6 167.50
Php Php
(14 100.00) 23 792.40
For the statement of comprehensive income, the sales of Php 120,000.00 were deducted by the cost of goods sold for five months to attain the gross profit. The operating expenses such as rent, supplies and utilities, were then deducted from the gross profit to get the net income of Php 23 792.40. This means that the business that the proponents are trying to build will be feasible since it is not a loss. The owners successfully maintained the profit they want to achieve.
For the statement of financial position, the assets were cash, office supplies, equipment’s and the ending inventory. There are also no liabilities since they paid it at the right time and at the same time, the proponents were eager to dilute the said liabilities. With the owner's capital and the net income, it sums up as same with the assets. This means that proponents followed the right equation of the balance sheet which is Assets = Liabilities + Owners Equity. Tater
Tater Bites Statement of Comprehensive Income As of December 31,2018
Bites Assets
Cash Store Equipment Store Supplies Ending Inventory Total Assets Equity Sheba, Capital
Php 547.40
35
2,350.00 657.50 17 237.50 Php 792.40 Php 000.00
55
32 23
Net Income Total Equity
792.40 Php 792.40
55
Cash Flow Statement
Cash Beginning
As of December 31, 2018 Php 000.00
32
Cash Flow from Operating Activities Cash Inflow 120 000.00
Sales Less Cash Outflow Cost of Goods Sold Php
82 107.60 Utilities Expense
2 932.50
Rent Expense
5 000.00
Store Equipment
2 350.00
Store Supplies Supplies Expense Ending Inventory
657.50 6 167.50 (116 452.60)
17 237.50
3 547.40
Net Cash Flow Add
32 000.00
Cash Beginning Php Cash End
35 547.40
For the cash flow statement, the cash beginning was the owner's capital. There are only operating activities for this small-scale business. The cash inflow were sales, and the cash outflow was the total expenses which are the cost of goods sold, utilities expense, rent expense, supplies expense and the ending inventory. As for the net cash flow, it was the difference of
the cash inflow and the cash outflow. Net cash flow will be added to the cash beginning, so it would sum up as the cash end which is the same as the cash balance for the month of December. This means all the expenses and income were correctly computed and written.
Chapter 5 Conclusion and Recommendations This chapter presents the conclusions drawn from the interpretation of the market analysis and after analysing the data gathered from the respondents. This chapter also includes the recommendations the researcher found out after the market survey and analysis all throughout the study.
Conclusion After the interpretation and analysis of the gathered data, the proponents concluded that: 1. The taste of the product brought satisfaction to the target market. It was assessed in three terms namely: Flavor which has a general mean of 3.60 interpreted as “Excellent”; Consistency which has a general mean of 3.45 interpreted as “Good”; and Satiation which has a general mean of 3.25 interpreted as “Good”. Overall, the Taste of the product has a general mean of 3.43 which is interpreted as “Good”. 2. The appearance of the product brought satisfaction to the target market. It was assessed in three terms namely: Product Size which has a general mean of 3.40 interpreted as “Good”; Packaging which has a general mean of 3.07 interpreted as “Good”; and Appeal which has a general mean of 3.33 interpreted as “Good”. Overall, the Appearance of the product has a general mean of 3.27 which is interpreted as “Good”. 3. The name of the product brought satisfaction to the target market. It was assessed in three terms namely: Appeal which has a general mean of 3.57 interpreted as “Excellent”; Relevance which has a general mean of 3.41 interpreted as “Good”; and Enunciation which has a general mean of 3.43 interpreted as “Good”. Overall, the Name of the product has a general mean of 3.47 which is interpreted as “Good”. 4. The price of the product brought satisfaction to the target market. It was assessed in three terms namely: Affordability which has a general mean of 3.56 interpreted as “Excellent”; Value for Money which has a general mean of 3.54 interpreted as “Excellent”; and Overall Value which has a general mean of 3.55 interpreted as “Excellent”. Overall, the Price of the product has a general mean of 3.55 which is interpreted as “Excellent”. Recommendations Based on the findings of the study, the proponents suggested the following recommendations:
1. The product should be tested in other locations and target markets to see if it will also be feasible. 2. The business should try expanding its stores in other places which do not have stores for the same product. 3. The product should improve to have a longer shelf life. 4. The business should try to sell their franchise to interested businessmen. 5. The product should have variety of sauces for the consumers to enjoy. 6. Add other potato products to be served and see if it could also be feasible. 7. Try to partner the product with drinks and see if it could also be feasible. 8. Further studies seeking if the cost of the product could be lessened without sacrificing its quality.
REFERENCES
Daniuseviciute-Brazaite, L., & Abromaitiene, L. (2018). Evaluation of students’ dietary behaviours depending on gender. PROGRESS IN NUTRITION, 20(1), 21-29. Hüttel, A., Ziesemer, F., Peyer, M., & Balderjahn, I. (2018). To purchase or not? Why consumers make economically (non-) sustainable consumption choices. Journal of Cleaner Production, 174, 827-836. SELVAMANI, M. K. Role of Indian Cuisine in International Cullinary.
APPENDIX A Certificate of Quantitative Data Treatment
This certifies that the Senior High School feasibility study entitled, TATER BITES conducted by Cathryn Leia P. Alejandre, Jenina Pauline Basallote, Francesca Agatha R. Euraba and Raiza Mae M. Samson, whose research design was Quantitatve, had been subjected to, Quantitative Data Treatment utilizing Statistical Package for Social Sciences (SPSS) with software license number __________ at Pamantasan ng Cabuyao by the undersigned.
JEREMY PAUL E. GECOLEA, MBA Quantitative Analyst, Pamantasan ng Cabuyao
APPENDIX B Certificate of Grammar Editing
This certifies that the Senior High School feasibility study entitled TATER BITES conducted by Cathryn Leia P. Alejandre, Jenina Pauline Basallote, Francesca Agatha R. Euraba, and Raiza Mae M. Samson, whose research design was quantitative, had been subjected to Grammar Editing at Pamantasan ng Cabuyao by the undersigned.
BABAYARAN NG 300 Grammar Editor, Pamantasan ng Cabuyao
CURRICULUM VITAE
Alejandre, Cathryn Leia P. Accountancy, Business and Management Block 95 Lot 49 Phase 1 Mabuhay City Mamatid, Cabuyao, Laguna 09956682834 [email protected] PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: September 29, 2001 Manila 16 years old Female Single 5’1 Roman Catholic
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
Saint Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2017
Primary Name of School
:
School Address Year Graduated
: :
Saint Matthew Montessori and Science High School Mamatid, Cabuyao, Laguna 2013
CURRICULUM VITAE
Euraba, Francesca Agatha R. SHS- Accountancy, Business and Management Phase 3 Executive Mabuhay City Mamatid, Cabuyao, Laguna 09955591266 [email protected]
PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: September 11, 2000 San Pedro, Laguna 18 years old Female Single 5’1 Methodist
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
Pulo National High School Pulo, Cabuyao, Laguna 2017
Primary Name of School School Address Year Graduated
: : :
Sacred Heart of Jesus and Mary School Mamatid, Cabuyao, Laguna 2013
Basallote, Jenina Pauline SHS – Accountancy, Business and Management Blk 4 Lot 5 Mabuhay Homes Ph2E Barangay Dila, City of Sta. Rosa, Laguna
09434365891 [email protected] PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : :
March 31, 2001 : Biñan, Laguna 16 years old Female Single : 5”4 Christian
:
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
:
Name of School School Address
: :
Year Graduated Primary Name of School School Address
:
Year Graduated
:
: :
Pamantasan ng Cabuyao Katapatan Homes Barangay Banay-Banay, City of Cabuyao, Laguna : Accountancy, Business, and Management S.Y. 2018-2019 Cabuyao Integrated National High School Limcaoco Street, Barangay. III, City of Cabuyao, Laguna S.Y. 2016-2017 Cabuyao Central Elementary School Osmeña Street, Barangay. III, City of Cabuyao, Laguna S.Y. 2012-2013
CURRICULUM VITAE
Samson, Raiza Mae M. SHS- Accountancy, Business and Management #234 Mamatid, Cabuyao, Laguna 09453842313 [email protected]
PERSONAL INFORMATION Date of Birth Place of Birth Age Gender Civil Status Height Religion
: : : : : :
: May 06, 2001 Calamba, Laguna 17 years old Female Single 4’11 Roman Catholic
EDUCATIONAL ATTAINMENT Secondary Name of School School Address
: :
Strand Year Graduated
: :
Pamantasan ng Cabuyao Katapatan Village, Banay-banay, Cabuyao, Laguna Accountancy, Business and Management 2017-present
Name of School School Address Year Graduated
: : :
St. Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2017
Primary Name of School School Address Year Graduated
: : :
St. Vincent College of Cabuyao 54 Mamatid, Cabuyao, Laguna 2013
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