Return to site

A FEASIBILITY STUDY OF PISCES-FLAVORED DRIED FISH IN BALAYAN, BATANGAS

Avena, Celine Joanne M., Marasigan, Baron B., Martinez, John Francis M.,

Mendoza, Enrico M., Rosales, John Matthew L.,

Saraza, Princess Mae C.

Bachelor of Science in Business Administration
Major in Operations Management

· Volume V Issue III

ABSTRACT

Pisces is a partnership-based business that sells flavored dried fish that is relevant for people now in the New Media Age because of the convenience it can bring to people. Due to the growing trend toward ready-to-eat food products, the proponents developed an idea that is not yet on the market but will surely be loved by Filipinos. This gave birth to Pisces since the proponents aim to be different from the already existing food products on the market, which often involve chicken and meat, which leads the proponents to opt for fish. Hence, Pisces aims to be the leading provider of premium-flavored dried fish products and promote healthier snacking worldwide. The business caters to students, employees, drivers, boarders, and tourists, where the primary target market is the residents of the Municipality of Balayan. Pisces offers flavors of cheese, spicy, salted egg, garlic parmesan, and vinegar that are available in 15g for ₱30.00 and 35g for ₱60.00, which are packed in resealable and eco-friendly packaging, as the business supports environmental sustainability and social responsibility. This study is quantitative research and utilized a survey questionnaire to gather data, wherein the numerical data collected helped in identifying the feasibility and viability of Pisces as well as the strategies the business must employ to achieve guaranteed success. There are a total of 40 respondents from the target market segments who participated in this study, who were selected through a stratified sampling technique. The product's unique brand positioning as a new snack that can be eaten anytime, anywhere, and on any trip the customer wants became a strength of the business, aside from the distinctive twist on conventional dried fish. Pisces used various strategies for the four Ps of the marketing mix, including having a branding strategy, utilizing advertisements, digital marketing, and public relations, applying pricing strategies, specifically markup pricing and price adjustment strategies, and strategizing the distribution channel of the business. It has also been concluded that a strong marketing strategy plays a big role in the success of the business, especially in a start-up where only a few know of its existence. Thus, the proponents recommend Pisces utilize both digital marketing and advertisements, as well as a public relations strategy, which is a good way to connect and interact with potential and existing customers, but securing FDA approval once the business is established should be prioritized. This feasibility study also contains the financial reports of the business in order to determine its profitability. Hence, considering the positive outcome that Pisces has a promising financial outlook and the numerical data that have been analyzed showing that all of the respondents eat dried fish, Pisces has been proven to be a feasible and profitable business entity.