A Feasibility Study on the Establishment of Malunggay Siomai in Susano Road, Novaliches Quezon City

Abstract

The researchers conducted a study entitled “A feasibility study on the establishment of Malunggay Siomai in Susano Road Novaliches, Quezon City” which has a concept of producing a new taste and an affordable product that the customers in the market will love it. The business made the product not just a new taste, but a new taste with a good benefit that cannot harm the medical condition of the person who consume this. This study accomplished in the financial aspect in order for the business to run effectively and adapt quickly to a changing market, furthermore the financial statement created by the researcher where identified as to business idea profitability and to sustain on the industry and withstand difficulties. The researchers use a survey method to identify the possible outcome of the business regarding Malunggay Siomai. The researchers used it as a strategic way on how to cope up to the needs and wants of the customers. The proponents consider the factors in marketing aspects of the business such as product pricing strategy, place and promotion. The researchers found out that 35% out of 50 respondents says that they are eating street foods. 22% respondents eating siomai daily, 20% respondents are eating siomai at meriyenda time and 32% respondents says that they want gulaman as their partner in siomai that results tothe big fraction that the product will be viable to the target customers in the public market. Based on the information gathered by the researchers, the result of the survey states that the product will be feasible to sell in the market since it is located near the wet market and in clothes market where the target customers are the passersby and students. As for the location of the business states that it is easy to find in the market and the respondents agreed to eat siomai in the stall. According to the study Master Siomai is still going strong seven years after it was established, the success and experience of Masterrific led it to another highly-promising venture in 2007 –a Food Cart Franchising. This gave birth to Master Siomai which grew to 550 outlets and counting to date. One of the business weakness is it is new in the market but with the help of the leaflet and other promotion such as sales taking and sample taste the business.