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CHAPTER IV

MARKET ANALYSIS

Target Market

The market is the people or organizations that will participate in the buying and selling

processes of a product or use these products or services.

Hottie Chili Paste’s primary markets are the people of Lucena City. Lucenahin’s from all

ages, those who are fond of eating their meals with added heat in their taste palettes.

The City of Lucena is a first class highly urbanized medium sized city in the province of

Quezon, Philippines. It is the capital city of Quezon and belongs to the 25 most competitive

cities of the Philippines. Its nearby towns are Pagbilao (East), Tayabas (North) and Sariaya

(West).
Competitors Analysis

Below is a table showing the competitors of the company with the comparison of the

products offered, price ranges of the product and the business strategies used by each company.

Company Product Price Business Strategies

Hottie Chili Patse Offers chilli paste made The company offer The company will give out

from fresh chillies. It is their product in the flyers and post on social

not simply a hot sauce market in a more media sites to promote the

because it includes reasonable price than new brand. Also, on the

chunks of chillies that other major opening of the business,

are not common to the competing brands. they will give free samples

famous hot sauce brands. of the product to attract

more consumers. The

company also plans to rely

in the “word of mouth” of

their customers who have

tried the product already.

Sriracha Besides offering their The company offers Packaged in simple red

basic sauce, they also their product at Php squeeze bottles with a

offer chilli garlic hot 550.00 for 17 oz. rooster imprint and green

sauce and their full- cap. The company uses

bodied sauce called only minimal advertising

Sambal Oelek. for the product.


Tabasco Offers a wide range of The company offers The company uses their

hot sauces that vary in their product at Php tagline- 'there's everything

their heat factor. Besides 320.00 for 20g. It for everyone' as their

their 'original' pepper also offers different strategy, offering different

sauce, they have 6 other sizes with 20g as variants of hot sauces.

variants. their smallest size

variant.

Other Hot Sauces Offers a wide range of The products are The common promotional

available locally hot sauces that vary in offered in reasonable strategies of the products

their heat factor prices making it are ardvertising through

affordable. flyers and commercials.

Sample Market Survey

Market Survey is defines as the study of the spending characteristics and purchasing

power of the consumer who are within your business's geographic area of operation; a research

method for defining the market parameters of a business. It is a way to explore your customers’

opinions of your new product or service, their preference for yours over the competition’s, and

their willingness to recommend.

Below is a sample market survey that the company plans to use to gauge the customer’s

opinion on the new product and their preferences.


SAMPLE MARKET SURVEY

 What do you like most about our product?

 What changes would most improve our new product?

 What do you like most about competing products currently available from other
companies?

 What changes would most improve competing products currently available from
other companies?

 What would make you more likely to use our new product?

 If our new product were available today, how likely would you be to recommend it
to others?
Extremely Likely

Very Likely

Moderately Likely

Slightly Likely

Not Likely at all

 If you are not likely to use our new product, why not?
Do not need a product like this Cannot pay for product like this

Do not need a product like this Not willing pay for product like this

Satisfied with competing products Others


currently available
SAMPLE MARKET SURVEY

 How important is price to you when choosing this type of company?


Extremely Important
Likely

Quite Important

Moderately Important

Slightly Important

Not at all Important

 Overall, are you satisfied with your experience using our new product, dissatisfied
with it, or neither satisfied or dissatisfied with it?
Extremely Satisfied

Quite Satisfied

Moderately Satisfied

Neither Satisfied nor Dissatisfied

Somewhat Dissatisfied

Quite Dissatisfied

Extremely Dissatisfied