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Presented to
The Faculty of College of Business and Accountancy
Presented by:
Juan, Princess Marie
Rabino, Frensarah
ACT-184
Presented to:
January, 2020
I. BUSINESS DESCRIPTION
Paper plates are alternatives of glass and ceramic plates that are often use
during celebrations and gatherings. For lower prices, customers are able to buy
pieces of paper plates. It is very convenient as well as easy to use. The problem is
that most of the paper plates being used are just disposed after its use.
According to the Environmental Effects of Paper plates, unlike office paper and
newsprint, paper plates are contaminated with food residue when used and it
cannot be recycled or even reuse.
Upon that problem, the business think of how to solve such concern about paper
plates. The idea that was contemplated is to create a reusable paper plate. This
will be quite different from the known one which is the one made out of paper
already. The paper plate that the business will produce will be made out of
banana peels and will undergo first with a process before it will become a paper.
To make this banana peel plate reusable it will be coated with a bioplastic which
is a good material to be used in reusing a certain product. Bioplastics are light
weight, durable and long-life.
The product is packed safely together before handed to customers and can also
be sold per piece for only 2 Pesos but last as long as 6 months.
Our main target market includes all occasions or festivals. We have found out
that the demand for paper plates are high because occasions happen all around
the year. We will not limit our target market, therefore, we will also be targeting
all sorts of people in the society which we think they are also be needing such
product.
IV. PRICE
Pricing Strategy refers to method companies use to price their product or
services.
Our business decided to use the Penetration Pricing Strategy. Since our product
is new the company will lower prices during its initial offering. The lower price
will help the product to penetrate the market and attract the customers away
from the competitor’s product. The common price of paper plates in the market
is ranging from Php30-Php50 containing twenty-five (25) pieces of paper plates
in a pack. Our reusable banana paper plate will cost Php35 that will also contain
twenty-five (25) pieces in a pack.
Upon the purchase of the customers the company will be reaching out to them
by offering product with discounts on a monthly or even weekly basis specially
those person or organization that commonly do events or organized an event. In
this way the company will be able to build brand loyalty among customers as
well as this will be another technique on attracting other customers.
V. ACCESSIBILITY (convenience)
Products that can be found easily and is accessible by the customers are the
most preferred one. Convenience of a product is often purchased by a consumer
because they spend less exertion and consideration.
Upon that, the company decide to promote this product in retailer’s distribution
network. Wherein, it will be introduced to the retailer and even in some
distributor on different stores may it be large business or a small one. In this
case, the accessibility of the banana paper plates will be very easy for the
customers.