Presentation of New Business Idea (gathered from FGD) SUBMITTED BY: Katrina C. Manzanillo Grade XII- STEM Neptune Activity 3: Market Research CONTENTS Conduction of Focus Group Discussion Preparations Purpose and Questions Summary of Focus Group Discussion Location of the Business and Plan Selling Pricing, Budget and Predicted Expenses Target Customers Target Locations The focus group discussion was held in our house located in Mabini Extension, San Jose Occidental Mindoro. Person with similar backgrounds and experiences are assembled to come up with new business ideas. The following are the people who took part in the discussion: o Katrina Manzanillo o Rosamia Manzanillo o Daniel Manzanillo o Collete Manzanillo o Mark Gregor Manzanillo o Dani Mae Manzanillo o Mari Joy Manzanillo The purpose of this focus group is to know and understand more about what we saw in the community so that we can come up with new business ideas that will help us grow our own business in the near future. Questions: 1. What is a good business to begin that just a few people in our community have? 2. What kind of business, people will surely like especially in our community? 3. How can we offer a one-of-a-kind product or service to the customer? 4. How can we make this product more affordable for the consumer? 5. How can we make this product more accessible to the consumer? 6. Who will be the target market? What will be the target location? SUMMARY OF THE FGD ( Focus Group Discussion) oSince there are only few Grill shops here in San Jose that offers all kinds of food that can be grilled such as seafoods that consists of fishes, shrimps, oyster, and lobster. Also, chicken, pork, and beef. Since many people really loves to eat grilled foods as well as our family, and after discussing more about good business to begin that just a few people in our community have, the business that people will surely like especially in our community, and who will be our competitors, we decided to build a Grilling Store business. oAfter deciding the business, the forecasting of costs, needs, goods, sales, income, and cash flows are also been discussed. We also discussed business competitors and decided what strategy could be created in order to stand out more. Also, we consider if the business that we plan to start will be popular. Location of the Business and Plan of Selling Following our discussion of the other business consideration, we discuss the location of the business. The business will be located in an area where a large number of people go or visit so that they can quickly see our business. We may also use the internet to help grow our business, because social media platforms allow entrepreneurs to connect with and engage potential customers. We can engage the potential audience with a strong social media strategy and the ability to create quality content. oWe'll recruit construction workers to help us create the place. Also, we may get the necessary tools and equipment for our grilling shop from a variety of stores and internet retailers. PREPARATIONS oWe also considered hiring a supplier who could offer us with high-quality chickens, pigs, and cattle to prepare the food for the consumer. Fish, shrimps, oysters, and lobster are among the seafood options. If we couldn't find a supplier for lobster and oysters, we can simply find someone on the internet that might have them. PREPARATIONS oDifferent types of sauces and tastes of the food can also entice customers. Sauces, as we all know, provide a significant benefit in dishes by providing taste, moisture, and a texture and color contrast. We decided to discuss the various sauces that would be served alongside the grilled dishes. oDifferent kinds of grilled foods will go on with these sauces: ✓ Lemon Sauces ✓ Sweet mustard Sauces ✓ Red Chile Sauce ✓ White Sauce ✓ Mustard Sauce oWe also decided to offer drinks like beers and wines that will surely love by the customers especially people who really wants to drink that is partnered with grilled foods. PREPARATIONS oAnd decided to add side dishes to offer, these will help customers in soaking up sauces and gravies when ordered a main dish: ✓ Corn pudding ✓ Mac and cheese ✓ Potato salad ✓ Vegetable salad PRICING, BUDGET AND PREDICTED EXPENSES o The pricing for each dish will be decided by the costs connected with the primary materials, the quality, and the way in which the food is prepared. Depending on the expenses, we may make it more affordable for customers. o Php 350,000 (including labor, food suppliers, and preparations of the business such as business taxes and more) Target Consumer Target Location ✓ Gourmet foodies ✓ Casual Customer ✓ All ✓ Any location as long as they can reach our business but for instance it will be in area around San Jose, Occidental Mindoro.
