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Actions to be taken

Purpose To focus on producing a souvenir item in the form of sarok hats and key holders which are profitable enough to sustain the regular operations of the business To determine the market size which could tell the demand of souvenir items in Consolacion as well as its potential demand in the city To help identify the different market segments that will become the basis of determining the possible variants of the sarok as a souvenir item (i.e. design, color) that would best address the needs of each segment To determine the potential target market To know the acceptability of the current products to the market as well as the quality of the delicacies To create a place in the minds of the customers To be able to offer better products (e.g. better design, color) To help identifying possible variants To establish a fixed pricing scheme that would be suitable for the enterprise To make products known to the potential market To help promote the products To protect the product To reduce cost To increase production efficiency

Resources List of souvenir items Types of hats Entrepreneurs opinions Reaction of the current customers

Duration

Identify the best sellers

5 days Market survey questionnaire Sample products

Product Conduct a market survey

Study on how to position the Product Research on possible product improvements Analyze the best pricing strategy Identify the best promotional strategies Identify the most suitable packaging

Different market segments and potential target market Market survey results Costing Prices of competing products Different market segments and the target market Financial resources Packaging of competitors List of equipment and materials needed Prices of different equipment and materials Processes of competing enterprises Market demand Estimated financial records DTI Municipal government From gathered results above

1 day 2 days 1 day 1 day 1 day

Market

Technology/Proces s Development

Determine ways of improving production

2 days

Financials

Financing Collation and Screening of data Checking and evaluation

Forecast sales based on demand (estimate cash flows and compute for NPV, IRR, and ROI) Approach government agencies that can help or provide incentives to entrepreneurs Create Business Plan Checking of Business Plan for corrections and improvement

To determine the feasibility and sustainability of the business To acquire financial assistance To register the business To include only valuable and related information in the business plan For consistency and clarity of business plan

2days

2 days 4 days 2 days

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