SQUASH OKOY A Business Plan Submitted to the Faculty of the Department of Management Cavite State University Imus City, Cavite In partial fulfillment of the requirements for the course Product Management MKTG 55 CARIÑO, ROGER CARLO MINALDO, MELDY MAE MONES, LEA ROMERO, JASMIN SANTOS, DHERRICK KRISTOFFER VILLAJUAN, MERYL October 15, 2015 ACKNOWLEDGEMENT “Let each of you look not only to his own interests, but also to the interests of others” The interests of others ought to be our interests too. Certainly we look out for ourselves but how can we turn a blind eye when others have needs. There is a certain genius in generosity because God gives back what we let pass through our hands but if we hold tight with clinched fists what we have, God cannot pour more into hands that are already clinging tightly to what they hold. While making up this feasibility report, we would like to express our heartfelt gratitude to the people who inspires, motivates and helps us in conducting this study. Mrs. Margareth Baybay Soberano, for the continuous help and support whenever we ask her about the things we didn’t understand and also to the lectures taught that led us to understand more this subject. Santos Residence who serves as our working place that with the family, support all of our expenses. To the parents of each of the member who wholeheartedly support us whenever we conduct this report. Of course to God Almighty who guides and bless us while planning and building our concept up to the time we finish this study. I. INTRODUCTION Based from different researches, processed foods are not good, which is the main reason why people all over the world are getting fat and sick. It starts when every time a population adopts a Western diet high in processed foods, they get sick. It happens within a few years. Their genes don’t change, their food does. Processed foods contained preservatives which are chemicals that prevent the food from rotting; colorants the chemicals that are use to give the foods specific colors; flavor that give the food a particular color ; texturants that give particular texture. Through the excessive heating and cooling processes, which are required in order to give processed foods extended shelf lives, vital nutrients are greatly diminished. Blanching vegetables before they are packaged causes water-soluble vitamins like vitamin B to fall out. Milling grains for breads causes the husk to falloff, which storesmost of the valuable nutrients. Some of these processed foods are nuggets, tocino, hotdog, burger, fries, longganisa, ham, bacon and many more. These have been part of the family’s everyday meal because it was mostly favored by kids from breakfast, lunch and even up to dinner. Some of the many additives included in processed foods are thought to have the ability to compromise the body's structure and function and are suggested to be related to the development of skin, pulmonary and psycho-behavioral conditions. Butylated hydroxytoluene (BHT) and butylated hydroxyanisole (BHA) are currently being investigated for their potential to damage genetic material and therefore promote cancer. Sulfites have been found to aggravate asthma (hypertext) in certain children and adults. Artificial colorings have been noted to cause hypersensitivity reactions in sensitive persons promoting conditions such as ADHD (attention-deficit-hyperactivity disorder), asthma and skin conditions such as urticaria and atopic dermatitis. Therefore, avoiding foods that contain these and other chemical additives may greatly contribute to health. It is harmful especially when taken regularly. Mommy’s Big Appetite as a new built business make Squash Okoy as a starting product which aims to substitute processed foods in the taste of every Filipino. Squash is a vegetable which is an excellent source of vitamin B functions such as energy production and making red blood cells. The shoots and flowers contain calcium, phosphorus and iron. The fruit contains calcium and vitamin A which is important for growth and development, for the maintenance of the immune system and good vision. Shrimp are a unique source of the antioxidant and anti-inflammatory nutrient called astaxanthin. is used for treating Alzheimer's disease, Parkinson's disease, “brainattack” (stroke), high cholesterol, and an eye condition called age-related macular degeneration (AMD) and it is also used for preventing cancer. The company makes Okoy available for sale in affordable amounts that persuade everyone to choose this product because what it only aims is a healthy Filipinos. II. NAME OF THE PRODUCT Squash Okoy is surely new in the market. Maybe some are doing it in their houses as a meal but it is the first Okoy that will be available in the market. It is made up of the combination of shrimp and squash as the main ingredients; eggs, flour, salt and pepper as the minor component. It will sell frozen by pack distributed in different markets in Imus and Bacoor City Cavite. Mommy’s Big Appetites’ specialization is food and we come up with this name becausewe want to inform and persuade every customer the good effect of it, just like a mother of the family. The mothers always assure the healthiness and nutritious benefit they can get from buying different goods. Squash Okoy, as our only product, promotes good nutrition and aims to have good feedback from our customers. III. PRODUCT DESCRIPTION Product is anything that can be offered to a market for consumption that might satisfy a want or need. Our product, Squash Okoy, was made with vegetable squash which is high in vitamin A and shrimp which is high in iodine content. These raw materials can all be found in our environment. From land to the ocean it is available, that let the producers to gather a desired material needed in a simpler way. Shrimp Okoy is delicious as well as healthy for customer and this type of food could be easily eaten that are hassle free when managing their time. The main ingredient for our product are shrimp which is reach in iodine which helps us to fight having goiter and egg that is rich in protein and a good source energy for everyday work. Mommy’s Big Appetite makes a product which focuses to help people who are health and budget conscious. Why does processed food buyers our main focus? Simply because we based it on what we see and heard on what is happening on their daily lives. Some customers have a hectic schedule so they need a food that will give the, energy as well as healthy for their body. That’s why we came to make shrimp Okoy as our product to sell. Figure 1. The Product (Mommy’s Big Appetite Squash Okoy) Mommy’s Big Appetite aims to know various things about conducting businesses. But it also aims to: • Ensure each customer receives prompt, friendly and courteous service. • Provide at a fair price, nutritious and well prepared meals- using only quality ingredients. • We attempt to achieve the customer’s satisfaction to the product produced by the business; this is achieved by ascertainment that the quality is approved on the level of manufacturing and production, for customer’s protection when eating the product. • Have an enough income during business operations • ‘’A Passion to Serve’’ IV. MATERIALS NEEDED Food mixer Freezer Table Figure 2. Tools for making Squash Okoy Eggs Squash Shrimps Figure 3. Direct materials for making Squash Okoy Flour Plastic container Wax paper Figure 4. Indirect materials for making Squash Okoy V. PRODUCTION OF PRODUCT The production/operation of creating Squash Okoy is every day except Sunday starting 7am to 3pm, the operation of the business will start on March 1, 2015. Squash Okoy is manufactured at B3 L27 Bangkok St. cor. Manila Ph1 Lessandra Camella Bucandala IV Imus, Cavite, and at 2275 Sgt. Realica St. Binakayan Kawit, Cavite because we have two machinery to produce our product. Binakayan Kawit, Cavite VI. VII. VIII. IX. X. XI. XII. XIII. Bucandala Imus City, Cavite Figure 5. The locations of the Firm A. Materials The squash okoy is produce using one method whereas the mixed ingredients (shrimp, egg, flour, squash) will be molded and pressed then it will be put into the freezer. B. Tools and Equipment The other tools and equipment such as mixer machine, freezer, table are used in making squash Okoy. C. Manpower MANAGEMENT STUDY The business is a corporation whereas Dherrick Kristoffer Santos, Roger Carlo Cariño, Meldy Mae Minaldo, Meryl Villajuan, and Jasmin Romero are the minor stockholders who shared 16% each of the profit and loss ratio and Lea Mones as the major stockholder with 20% share dprofit and loss ratio. Each manager is not held liable to extend the debt of personal assets for any debts of the company. Meldy Mae Minaldo as a Human Resource consultant of Mommy’s Big Appetite assists in creating a job application that will attract job candidates who arequalified for the job. Some of her duties are (1) Maintains and enhances the organization's human resources by planning, implementing, and evaluating employee relations and human resources policies (2) Updating job requirements and job descriptions to maintains the work structure for all positions (3) Establishing a recruiting, testing, and interviewing program; counseling managers on candidate selection; conducting and analyzing exit interviews; recommending changes to maintains organization staff (4) Establishing and conducting orientation and training programs to prepares employees for assignments (5) Conducting periodic pay surveys to maintains a pay plan (6) Ensures planning, monitoring, and appraisal of employee work results by training managers to coach and discipline employees (7) Ensures legal compliance by monitoring and implementing applicable human resource federal and state requirements. Roger Carlo Cariño as the operation manager is a senior role which involves overseeing the production of goods and/or provision of services and responsible for (1) Planning and controlling change (2) Managing quality assurance programs (3) Researching new technologies and alternative methods of efficiency (4) Setting and reviewing budgets and managing cost (5) Overseeing inventory, distribution of goods and facility layout. Meryl Villajuan and Dherrick Kristoffer Santos as the marketing manager of the firm should accomplish the business development activities by researching and developing marketing opportunities and plans, others are (1) Recruiting, selecting, orienting, training, assigning, scheduling, coaching, counseling, and disciplining employees to accomplishes marketing and sales human resource objectives (2) Contributing marketing and sales information and recommendations to strategic plans and reviews to achieves marketing and sales operational objectives (3) Forecasting requirements; preparing an annual budget to meets marketing and sales financial objectives (4) Determines annual and gross-profit plans by forecasting and developing annual sales quotas for regions; projecting expected sales volume and profit for existing and new products (5) Accomplishes marketing and sales objectives by planning, developing, implementing, and evaluating advertising, merchandising, and trade promotion programs; developing field sales action plans (6) Sustains rapport with key accounts by making periodic visits; exploring specific needs; anticipating new opportunities. Jasmin Romero as the Economists is responsible in (1) Devising methods and procedures for obtaining data (2) Understanding various sampling techniques that may be used to conduct different types of surveys (3) Creating, as well as using, various econometric modelling techniques to develop forecasts (4) Understanding and interpreting data (5) Analyzing data to test the effectiveness of current policies, products or services and advising on the suitability of alternative courses of action and the allocation of scarce resources. Lastly, Lea Mones as the Financial Manager is the one who (1) Provides and interpret financial information (2) Monitors and interpret cash flows and predicting future trends (3) Analyzing change and advising accordingly (4) Develop financial management mechanisms that minimize financial risk (5) conduct reviews and evaluations for cost- reduction opportunities (6) Produce accurate financial reports to specific deadlines (7) Manage budgets. D. Step by Step Procedure In every decision or thing that we do in our life, we always have a series of steps followed in a regular definite order- a procedure. Just like life, making Squash Okoy also have a procedure to be follow to make it worth it. Step 1: Preparation of materials A: Prepare the ingredients upon purchasing it from the market: shrimp, squash, egg, flour, wax paper, plastic container. B: The other tools and equipment such as mixer machine, freezer, table and gloves should be prepared. Step 2: Processing and Cooking A: Using the mixer machine, the egg, flour, and shrimp will be mixed. B: The squash will be cut into strips. C: Add the squash while molding the mixed ingredients. D: After molding and putting everything together, the squash okoy needs to be pressed in order for it to look like a patty. E: Next step is we have to put it inside the freezer to keep the squash okoy preserved and to avoid spoilage. E. Packaging Since there is a plastic container to be used with the label of the company, The finished product will be put on it. Five (5) Squash Okoy patties are can only put inside. Figure 6. Package of the product F. Labeling Label. A word or phrase that identifies our product. G. Pricing The price is the amount of money charged for a product. It will be effective using cost-based pricing wherein the pricing is based on buyers’ perceptions of value rather than on seller’s cost. TOOLS QUANTITY UNIT COST Freezer 2 P22,900.00 Table 4 P5,600.00 Mixer Machine 2 P3,906.00 TOTAL P31,596.00 DIRECT MATERIALS QUANTITY TOTAL AMOUNT Shrimp ¼ kilo P95.00 Squash ¼ kilo P30.00 Egg 2 P10.00 TOTAL P140.00 INDIRECT MATERIALS QUANTITY TOTAL AMOUNT Flour 1 P10.00 Plastic Container 1 P5.00 Wax Paper 1 P15.00 TOTAL P30.00 Price is the one which determines how the product would satisfy your consumers. It is not enough set high price just to gain higher profit. In setting up prices, our company should consider things that make our customer favor and give loyalty to our product. Through cost-based pricing wherein the price was based on the perception of the value of the customers. It means that because we have indirect competitors we should set price lower than them. Having lesser value than competitors would make our customers to choose our product, as one of our objective shows, we just want to attain good feedback from our customers. By the summation of all the cost of making our product, The Company will sell the product at the amount of 35 pesos per pack. This price was derived from the combination of expenses. VI. PRODUCT DISTRIBUTION The place also serves as one of the strategies in attaining one’s goal. The manufacturing place was at B3 L27 Bangkok St. cor. Manila Ph1 Lessandra Camella Bucandala IV Imus, Cavite, and at 2275 Sgt. Realica St. Binakayan Kawit, Cavite. The selling process would be the distribution from the manufacturers in Kawit and Imus City, Cavite to retailers which includes public markets and SM Supermalls and there will be also direct marketing that would be sold by our customers for their consumption. Mommy’s Big Appetite uses free taste, commercial and print-ads as our promotion and also personal selling. The key objectives of our advertisement are for customers to know what type of product that we are selling that’s why we will gain their trust in buying our product and to let the customers know the benefits that our product has offer. For example, we will build stalls in malls and markets all over Imus City and Kawit, Cavite, which leads us to have direct selling with our customers which will introduce the advantage of our product.