Veggie-summary.docx

I. EXECUTIVE SUMMARY Healthy food makes the life better. Many people are not interested in eating vegetables. There are so many foods that are trends nowadays that always have been eaten even though it is not healthy. Some people usually want the food that is delicious and tasty only. They didn’t know or consider the good or bad effect of that food to their health. So, we are meditating what will be our product that is unique, can attract consumers quickly and also, have good benefits to the consumers. As the results of our scrupulous reviewing and profound pondering, we turned out to reinvent a unique and somewhat strange product that we are going to produce a healthy and nutritious product. Veggie Queen is locally owned fast food outlet which is located in

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Batangas City that is directly found near schools. It is a different product that people can see for the first time. It will result an increasing demand either for snack and merianda-time. Veggie Queen has product that surely attracts people to buy. It is called “nutricookie”. This product is very nutritious food that might give goo benefits to the people. Nutricookie is composed of cookies with jam in the middle. The cookies are made up of malunggay and oatmeal that makes a product a healthy one and that is good for the people. Nutricookie senses the flavor chewy and tasty cookie. The jam offers different flavors such as Strawberry, banana and mango. Nutricookie drives the

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dish more pleasing to taste because of its splendid taste and deliciousness in every bite. The colour of the cookie is based on their different flavors. Nutricookie will establish successful local fast food in the Philippines, started with one retail outlet located inside a shopping mall like Robinsons as a ‘pilot store’ and gain market share in the Philippines’ fast food industry.

II. BUSINESS OVERVIEW a. Brief History of the Company Veggie Queen Company has different roots and founders, all sharing a commitment to quality, a willingness to take risks and a spirit motivation. It is started year 1995, Maxpein Del Valle (the founder) started to like

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cookies. She always wanted to eat cookies wherever she will go. She got used to it until one day, she promised to herself that she will bake cookies that are unique and very delicious. After 23 years, she entered the world of business, she starts experimenting foods on how to create a new product. She remembered the promise that she made to herself so she made unique cookie called nutricookie. Maxpein continues to grow and innovate to meet changing consumer needs, in part by building on its history, the legacy of its well-known brands, the character of its founder and dedication of its employees. The company has continued to build on the innovative spirit of its past, with new products such as low-fat and fat-free products in a variety of categories.

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Veggie Queen was established to enlighten the mind of the people that healthy foods make their life longer and for that, nutricookie is the best example that is suited for their basic life. b. Mission and Vision Mission To develop and sell a healthy and extraordinary burger that offers great taste experience. Vision We want to be a market leader where talented and dedicated employees produce unique and delicious cookies.

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c. Product and Service Offerings Veggie Queen has created Nutricookie that is varied and superior to customers. Customers can taste the quality, the sweetness of jam and the creaminess of the cookie. The following are characteristics of the product: 1.

Nutricookie is composed of cookies with jam in the middle.

2.

The jam are all fresh from different kind of fruits having original and natural qualities.

3.

The cookies are made up of malunggay and oatmeal and chewable.

4.

The size is like the ordinary buns.

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The Veggie Queen Store: •

Location: Inside shopping mall, sub-urban neighborhood, or urban retail district, near schools.

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Design: clean and attractive

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Size: 100 – 150 square meter.

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Employees: Six to eight.

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Seating: 10-15.

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Types of transactions: 60% dine in, 30% take out and 10% deliver.

The Nutricookie is a new and unique product that Sweetiebasique Company produced. It offers good and healthy benefits to the consumers. It also offers the best taste that consumers could not ever forget. This product aims to get the attention of the consumers to eat the healthy food with very good tastes. <<< ALANGILAN SENIOR HIGH SCHOOL

III. THE MARKET a. Market Demographics •

Male and female

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Ages 7 and above because Nutricookie is open for all students.

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Students and workers who are close to the location

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Students from lowest grade level up to higher level who prefer to have snacks, merienda anytime.

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Have an allowance of Php. 50.00 and above

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The Nutricookie customers are students between the ages of 7 and above. Age and sex are not the most defined demographic of this customer base; both sexes and all age groups enjoy Nutricookie. The most defined characteristic of the target market is people who have attend school and work. Combining several key demographic factors, Nutricookie arrives at a profile of the primary customer as follows: •

Students who prefer to eat snacks in fast food outlets \.

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Working Batangueños who work close to the location.

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Individuals who love to eat strange and healthy foods.

b. Market Needs Nutricookie is providing its customers with the sweetness of jam that eat <<< ALANGILAN SENIOR HIGH SCHOOL

as snacks or merienda and can also be served at any party and occasions as an appetizer. It is providing also its customers with a wide selection of flavors of Nutricookie that are delicious. Nutricookie seeks to fulfil the following benefits that are important to their customers. •

Selection. A wide choice of flavor options.

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Accessibility. The patron can gain access to the food chain with minimal waits and can choose the option of dine in and take out.

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Customer Service. Nutricookie‘s staffs will take an extra effort or step to help the customers carrying their orders and they will also offer a free deliver services.

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c. Market Trends The market trend for fast food is headed toward students. •

Food quality. The preference for good quality that can be served during their snack time or merienda time.

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Price. Since the students have minimum allowance, the price is affordable.

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Selection. Students are demanding for a larger selection of foods.

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Health consciousness. Students recognize that the product can be quite tasty and reasonably good for health because of the vegetables.

d. Positioning For schools, Nutricookie is the tastiest healthy food because it contains <<< ALANGILAN SENIOR HIGH SCHOOL

malunggay that suited for the health of every student. It also provides different flavors that can be choose of the students. It can attract the students because of its attractive physical appearance. IV. SITUATIONAL ANALYSIS A. Macro – Environment Analysis a.1 Politico-Legal. Veggie Queen Company tried to expand overseas can come across political barriers. It is difficult to grow and lack stability and also can result in economic instability. The company follows the regulations and laws

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related to our products. The company also gets the permits that should companies’ have like BIR Permit, Sanitary Permit and so on. a.2 Economical. It affects the economic growth, sales and revenues of a business from inflation. Veggie Queen’s Nutricookie might increase the price to sustain the cost of raw materials which is increased too. a.3 Social. The peoples’ values, beliefs and practices can affect our business. It affects the social preferences regarding the needs and wants of the consumers. Veggie Queen Company can accept the opinions, suggestions or feedbacks of the consumers and give it responses. a.4 Technological. Veggie Queen Company can leverage changing technology to improve the products or processes. Veggie Queen Company can

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also create new products that might be paired with. This will results the expansion of the sales and profits. B. SWOT Analysis a. Strength Nutricookie has much of internal strength to provide our good services to fulfill customer’s needs and wants. Nutricookie is unique that our business have secret recipe and customers would not find the same taste like us. We have variety of choice to fulfill different types of customer; you can choose what flavor that you want to eat. We promise that our customers can enjoy at the best

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moment. We have industrious employees, when you take order, we make it immediately and we never keep our food over a day. We have care in our customer needs; we provide delivery service for customers to enjoy our burger everywhere. b. Weaknesses All of business in being, the new business always in danger with no experience at start. Our customer service may not very well but through develop and maintain we will give the best customer service to customers, we have training for our staff to make the burgers and face to customers. The major training is solve the problem and emergencies because in the real situation always have we can’t imagine that. Keep the customers, we need to do our best and appraise overall performance. Moreover, our lab has not lots of high <<< ALANGILAN SENIOR HIGH SCHOOL

technology, the making time popularly slowly and this is the problem to lose our customers. However, we don’t want our cookie taste identical and mechanize, we don’t know the feedback of our business. For those reason, we won’t buy lots of high technology at present. Again, because the business still newly, we don’t have market awareness and reputation now. Through the business is running and advertising, we believe that our business reputation will increase. To bring more customers, we will release the sales promotion.

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c. Opportunities In the Philippines, the fast food outlet is always popular. This is the chance, expansion of business into newly develop parts of the world. We can make our own brand to produce other food that increase our profit and give customers other choice. Also, when our business is success, some of diet TV program or magazine will visit our business. It can spread our burgers are delicious and bring the new customers. More investors will be interest to invest our business. We want to build the brand which is everyone know about us and when people think about burger will associate our business. This is the big challenge and we will realize that. d. Threats

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Due to lots of fast food and many new fast food get into Philippines, they all have their selling point and the competition always fight our business such like reduce the price to attract customers that outflow our customers. The other problem we need to face it, tax. Because of tax, we need to increase our price to exist but we will give discount back. A lot of substitute products for customers to choose which mean customers can have many choices that they can back us out and this is easy to happen. When customers find other burger or service better than us, our business will drop it. All we can do is keep level and add more resources, always release promotion to remind customers “we are here!” d.1 Competition

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The competition comes from several different sources. National Competitors Red Ribbon. Red ribbon sells classic mamon, cookies and especially, the product that results why they are famous, the cake. Red ribbon has unique recipe that no one can copy. Goldilocks. Goldilocks sells delicious cakes, cookies, mamon that will never forget once you taste it. Their best seller which is cake is the reason why they became famous. Breadtalk. The smells of the bread that they are selling can attract the customers immediately. Their products are bread, cookies that have sweet aroma and very tasty. Local Competitors <<< ALANGILAN SENIOR HIGH SCHOOL

Ann’s home. Peanut Cookies is the product of Ann’s Home. This peanut cookies have a crunchy bite, a satisfying snap and a clean, nutty flavor. Aiza’s bakery. Homemade cookies, bread, cupcakes are the products selling by Aiza’s bakery. Their products are all fresh every day, affordable and tasty. V. MARKET SEGMENTATION / CUSTOMER ANALYSIS The

profile

for

Nutricookie

customer

consists

of

the

following:

demographics, geographic and behavior factors.

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a. Geographics •

Nutricookie’s immediate geographic target is the City of Batangas with a total population of 408,619.

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The total targeted population is estimated at 102,155 or 25%

b. Demographics •

Male and female

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Ages 7 and above because Nutricookie is open for all students.

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Students and workers who are close to the location

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Students from lowest grade level up to higher level who prefer to have snacks, merienda anytime.

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Have an allowance of ₱50.00 and above.

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c. Behavioral Enjoy eating foods in some occasions or everywhere serve as their snacks or merienda •

Like to eat tasty cookies and complementing it with different flavors.

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Want to try something strange and unique food

d. Psychographic / Lifestyle •

Consumer that has a money of ₱ 50.00 and above

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Consumer that is health conscious

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Consumers that preferred snacks or merienda that can easily be eaten

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VI. MARKETING STRATEGY a. Marketing Objectives •

Attract more potential customers and sell Nutricookie.

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Find opportunities to offer services.

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To recognize the product and the company.

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Penetrate 25% of the target population.

b. Financial Objectives •

Generate atleast ₱ 30,000 in sales per month

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Decrease variable costs associated with food production monthly.

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A double-digit growth annually equivalent to 20% .

c. Target Markets

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Individuals: People that prefer to eat healthy foods.

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Students: Young people, high schoolers, and college students who

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The market can be segmented into three target populations:

hang out after school and take snacks or merienda in fast food outlets •

Working Batangueños: Workers and job seekers who eat snacks in fast food outlets

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VII. MARKETING MIX A. The 7 P’s of Marketing 1. Product / Service Strategy. Nutricookie provides tasty and satisfying product that can get the loyalty of the consumers. This product is composed of two cookies with jam in the middle. The ingredients of the cookies are malunggay, oatmeal, flour, milk, egg, and sugar. The size of nutricookie is like an ordinary buns of the burger. Nutricookie enjoys and senses the flavor of strawberry, mango and banana that makes it tastier and it will served by piece. Nutricookie stays a healthy food because of its fruity flavor of jam and also because of its cookie that is made up of malunggay and oatmeal that is delightful great treat to have in any kind of

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celebration – whether it is a birthday, wedding, reunion or a simple gettogether. Nutricookie enjoys and senses the flavor of strawberry, mango and banana that makes it tastier and it will served by piece.

Combination of Malunggay and Oatmeal cookie with Strawberry Jam

Combination of Malunggay and Oatmeal cookie with Mango Jam

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Combination of Malunggay and Oatmeal cookie with Banana Jam

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Packaging:

2. Pricing Strategy. The products will highly recommended for the friendly price which is 50 pesos each. 3. Place or Distribution Strategy. The outlet is directly located near in school and other business establishments found in the City of Batangas. 4. Promotional Strategy. Nutricookie deploys different marketing tactics to increase customer awareness of the product. The most effective and cheapest tactic is “word-of mouth”. Also, the company used Radio

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advertisement, flyers and banner ads to introduce the product in the market. Also they offer “Buy three (3) pieces of Nutricookie will get 25% as their promotional strategy. 5. Process. At first, prepare the ingredients, malungay, oatmeal, flour, sugar, salt, egg and flavoring fruit: strawberry, mango and banana for baking cookies. First you need to heat the oven 375°F. Then mix sugar, butter, vanilla and egg in large bowl. Stir in flour, soda and salt ( dough will be stiff). Drop dough by the rounded tablespoonful about 2 inches apart onto ungreased cookie sheet and add flavor you want. Lastly, Baked 8 t0 10 minutes or until light brown (center will be soft). And then, put the jam

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between the two cookies. The employees will serve our product carefully. The customer will choose whether it is for dine-in or take out. 6. Physical Evidence. Veggie Queen has high facility that can provide a good quality of Nutricookie. Nutricookie also distributed in whole Batangas and can be visit in first branch were the consumer well treated by our employees.

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Product and Company Logo:

7. People. The company hires for six staffs for food production which depends upon on their designated areas. The staffs will be assigned on the following tasks: 1. Taking orders, 2. Receiving payment, 3. Assembling orders, 4. Food production, 5. Dining staff 6. Customer service staff. The company will make sure that the staffs are doing their responsibilities as

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workers for the sake of the company. New hired employees will take training.

B. Marketing Research Fast food industry shows how fast food compares with their competitors on sales, service and even product quality. According to Euromonitor International (2018), economic and social conditions in the Philippines were very favorable to the fast food industry as at the end of the review period. Improved purchasing power pushed an even higher frequency of spending on food and the increasingly busy lifestyles of Filipinos, especially for the emerging middle class, heightened the demand for more convenience, which fast food players can take advantage of. <<< ALANGILAN SENIOR HIGH SCHOOL

To further elevate customer satisfaction, fast food players recognize the growing consumer group of millennials, especially those coming from the emerging middle class. The increasingly on-the-go lifestyles of millennials are a huge opportunity for fast food players to further highlight their strength in terms of convenience compared to other types of foodservice. In developing the market plan, the group focus in gaining insight into the decision, and making decision process of consumers. We choose fast food because people are spending on food more, aforementioned above. The company came up with the product based on personal experiences and dislike to

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things such as vegetable so that, even when they are spending more on food, at least it helps them to gain good benefits especially for their health. C. Financials, Budgets and Forecasts This section will offer a financial overview of Nutricookie as it relates to the marketing activities. Nutricookie will address Break- even Analysis, Sales forecasts, and Expense forecasts and how those link to the marketing strategy. a. Break-even Analysis 900,000

Break-Even Analysis 800,000 700,000 600,000 500,000 400,000

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total cost sales

300,000 200,000 100,000 0 0

fixed cost variable cost sales price

2,000

180,000 30 50

4,000

6,000

8,000 10,000 12,000 14,000 16,000

break even units break even in pesos

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Total sales: ₱420,000 b. Sales Forecast The first two months will be used to get the restaurant up and running. Sales will gradually increase with profitability being reached by the beginning of year two. The sales per year are expected to increase by 20%.

Sales Forecast 2018 Sales

20%

20%

P504,000

P 588000

P 126,000

Individuals (60%)

252,000

Workers (10%)

42,000

Total Sales

2020

P 420,000

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Students (30%)

2019

c. Expense Forecast Marketing expenses are to be budgeted. Fast food outlet typically have increased business during Christmas season.

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Marketing Expense Bugdet 2018

2019

2020

Radio 20,000 Advertisement Flyers

5,000

Others

20,000

Total Marketing 45,000

45,000

45,000

10.71%

9.74%

8.93%

Expenses Percent of sales

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VII. KEYS TO SUCCESS AND CHALLENGES To succeed in this business, we must: •

Create a unique and healthy menu that will differentiate us from the rest of the competition.

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Control costs at all times, in all areas and implement a conservative approach growth policy.

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Sell the products that are of the highest quality, as well as keeping the customers satisfaction with all of our product food categories.

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Encourage the two most important values in fast food business, brand and image.

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Challenges Veggie Queen’s Nutricookie is still in the speculative stage as a fast food outlet. Its challenges are: Competitors who continuously making a great image to the market.

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Calamities or fortuitous event that may come.

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•

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