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TEHNOLOGICAL INSTITUTE OF THE PHILIPPINES 938 Aurora Boulevard, Cubao, Quezon City College of Business Education

POTATO NUGGETS (New Business Idea): An application of Microeconomics Theory and Policy

Submitted by: LOPEGA, LUXLIE A. BSA22KA2

Introduction

To compete with the fast changes happening in the business world, entrepreneurs must be aware and must always be equipped with the ideas on how to cope up with such changes and ready to ventures towards development. Thus, as a new entrepreneur practices our capabilities on creating a new business idea. Knowing that everyone is fond of eating and in addition, food is one of the basic needs of people. We made some innovation on an existing product to enhance customers desire on the product. Following these reasons, we introduce a new image of nuggets using vegetables as ingredients. Particularly, potatoes and carrots. Aiming to cater people of all ages and providing satisfaction with the consideration of good health. POTATO NUGGETS

Potato Nuggets are made from natural and nutritious ingredients which make it more than just an ordinary type of chicken nuggets. It has also high nutritional contents as it is made from all-natural and fresh vegetable ingredients such as carrots and potatoes. Innovative Enterprise is our company name since we consider ourselves as innovators. The type of ownership is partnership. This form of ownership also enables the business to have more funds which can supplement the growth of the business.

Reaching out to customer needs and desire is a must for a business establishment to succeed. Since we all know everyone is fond of eating and food, being one of the basic needs. Our product can be serve as a snack available to all ages which will satisfy our hungry tummy. Potato Nuggets will set up effective advertising and promotions strategy. The enterprise believes that first impression lasts. As a starter, we will commence by getting in touch with our target markets allowing us to convince and motivate them to try our product. Thus, starting with our own effort, we can distribute the product.

Potatoes, carrots, chicken breast, egg, bread crumbs, flour, and seasonings are the ingredients for our product. The supply of raw materials which is needed for the productions are available throughout the years and it is also accessible since we will be getting our raw materials from the public market which is nearby where the business is placed.

Considering the fact that the business is just starting,

DEMAND ANALYSIS: (TARGET MARKET)

Filipinos are now adopting trend lifestyle of the busy countries to meet with the fast phasing of economy with regards to industry and progress. In doing so, people are too busy with all their activities that they find it time consuming to prepare and attend their meals before going to their respective works, going to school, or whatever agenda it may be. Thus, Our product Potato Nuggets determine to meet and solve the inconvenience faced by such type of customers, by providing cheaper price and also assures convenience to customers. Potato Nuggets is located in Ascoville St., Malaria, Caloocan City. We distribute 30 copies of survey forms which were answered by the students, households, walk-ins, passengers, as well as drivers of tricycles in the community to identify the number of demands for our product.

Based on the survey result, out of 30 respondents

SURVEY QUESTIONNAIRE FOR PROPOSED POTATO NUGGETS I, Luxlie A. Lopega, 2nd year BS Accountancy student, who is currently working on a project proposal, such proposal is a requirement in my Econ 203 course, that is to come up with a new product, Potato Nuggets. It is an innovative type of product with a twist. It is a nuggets made from potato and other vegetables. Potato Nuggets are crispy from the outside and soft from inside comprising of different flavours of many vegetables that is more delicious and nutritious. It can be serve with rice and a substitute with snack as well. With this, I would like to ask a little of your time by answering the survey questionnaire. Rest assured information gathered will be used only for the purpose of this study.

1. Please indicate your age bracket: 10-20 21-30 31-40 41-50 50 Above

2. Gender ? o Male o Female 3. Please select your household income from the following list. (Check your answer below) 15,000-20,000 21,000-30,000 31,000-40,000 41,000-50,000 50,000 and up

4. Please rate the following features on how important they are to you.(4-Very Important; 3-Important; 2-Not very Important; 1-Irrelevant.) ___New, improved products. ___Packaging ___Pricing ___Advertising and promotion ___Delivery ___Convenience 5. Based on the description, what is your reaction to this new product concept?

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I am very interested I am slightly interested Neutral I am not interested

6. Please tell us about what you like most about this product: ____________________________________________________________ ____________________________________________________________

7. How would you describe your need for this product?

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I need it badly I need it I might use it I do not need it

8. Please tell us about what you like least about this product: ___________________________________________________________ ___________________________________________________________

9. Based on the description, please rate the product on the following: Very Poor Uniqueness Utility Innovativeness Poor Neutral Good Excellent

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