EXECUTIVE SUMMARY
SisigAlaSiomai, unlike a typical siomai food stall, will provide a unique and
colorful flavor to the Filipino palate making a difference to the food industry.
SisigAlaSiomai is the answer to the increasing demand of the food-to-go products in the
market. The public wants portable and affordable convenient food products that can be
prepared in a short time without sacrificing quality and flavor. FCJ Franchising Inc.s
goal is to promote and strengthen nationalism and micro-entrepreneurship active
participation in various business-oriented programs and seeing the customers success.
This marketing plan for FCJ Franchising Inc. has been created to outline the
marketing strategies and processes to increase the market share of the firms product.
The firms intent is to have a definitive business, financial, and marketing plan that not
only serves the need for capital financing, but is utilized as the firms daily business
roadmap. The firm has taken all precautions to validate the firms business and
financial models, focusing on realistic projections.Further, the report will discuss
strategies in targeting its chosen market segment. Recommendations are made
throughout the plan and summarized at the end which includes several unique
marketing strategies for selling the product with subsequent detailed information
provided throughout the marketing mix.
SisigAlaSiomai has proved its market excellence even though it has only been
introduced in the market for it has received various demands for its products, and
research has shown that the target market and retailers would like more of its products.
Hopefully, as time pass by, with all the exerted time and efforts, the marketing and
financial objectives would be achieved. In the first year of its operations, the company
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intends to create awareness and interest to 75% of the target market by using different
promotional strategies. The company expects to have sales of 766,500, a projected
cost of sales of 416,500 giving a projected gross profit of350,000. By the end of
2016, the company expects total sales of 543,582, and in the month of June giving it
the highest sales of65,100. Expected cost of goods sold in the same year is estimated
to be at 385,038 which will result to a profit of 158,555 for 2016.Moreover, the firm
plans to explore opportunities specifically in the word-of-mouth communication and
sales promotion like giving out free samples to the public in the product launching to
reduce threats making them purchase the products thereafter.
The firm is engaged in direct distribution. This distribution strategy is convenient
and serves as a booster for the companys image by creating client-based relationship
and customer contact. In addition, the firm would like to create awareness and stimulate
demand with the help of pioneer advertising will help the company achieve its goals
The marketing environment has been very interested to the firms product. Over
the next five year, the firm can increase its distribution, offer new products extending its
product line, acquire new customers and inspire all Filipinos to have an entrepreneurial
spirit as a means to achieve economic growth for our country.In addition, the firm
intends increase sales and to be the leading provider of affordable and profitable
franchises in the country.
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SITUATION ANALYSIS
A. COMPANY BACKGROUND
Founded in 2015, FCJ Franchising Inc. was the brainchild of five young
entrepreneurs Jeramiah San Antonio, FrenzKamilleSigua, Carmela Bautista, Princess
Joy Dumandan and Christa UraniaCarbungco. The five college friends were determined
to put up a business after finishing college. They recognized the market potential of food
franchising specifically siomai products and explored it into many aspects. Thus, this
idea resulted into the realization of establishing their franchising company considering
this is a more viable path to take.
FCJ Franchising Inc. first launched its brand of food stall SisigAlaSiomai, which
serves siomai products. To increase their competence, theyve discovered the
innovation of the SisigAlaSiomai inspired by the well-known Kapampangan cuisine,
Sisig, to give the conventional product a totally different but flavorful twist. Its success
reaped approval and positive responses from the public experiencing a growing boom in
just a short period of time.
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VISION
At the core of Franchising Inc. is a vision to uplift the quality of life of the Filipino
people through micro-business. The firm endeavors to inspire all Filipinos to have an
entrepreneurial spirit as a means to achieve economic growth for our country. In line
with this vision, the firm intends to be the leading provider of affordable and profitable
franchises in the country and to eventually become a global brand.
MISSION
Guided by our vision, Franchising Inc. seeks to promote and strengthen
nationalism and micro-entrepreneurship active participation in various business-oriented
programs and through its own marketing strategy. Along with this leadership is the
commitment to see our customers through success. It is the firms objective to not only
care for our franchisees but also to our end consumers. Hence, we provide products
noted for its quality as well as its great taste. Ultimately, the company aims to enrich the
lives of the Filipino family by providing them a means for a secure and stable future.
VALUES
Our core values have shaped the culture and defined the character of our
company guiding how we behave and make decisions.
Put our clients interest ahead of our own: This means we deliver more than
is expected. It doesnt simple mean doing whatever the client asks.
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Integrity: Inspiring trust by taking responsibility, acting ethically, and
encouraging honest and open debate.
Respect: Valuing diversity, ensuring an interesting and inclusive environment,
and treating people as we would like to be treated ourselves.
Client Value Creation: Improving our clients business value through improved
performance, creating long-term win-win relationships and focusing on execution
excellence.
B.PRODUCT BACKGROUND
Franchising Inc. came up with an innovation of the product called
SisigAlaSiomai, a siomai filled with rice and the famous cuisine in
Pampanga, sisig. Instead of the normal sisig served on the Kapampangans
tables, the firm decided to come up with the chicken version of the popular
sisig dish. Sisig is known to be a spicy and fatty dish popular for the Filipino
beer-drinkers because of its unique sizzling blend of spiciness, sourness,
saltiness, aroma and it usually uses fatty parts of the pig such as the ears and
face; the original recipe also uses brain of the pig as a binder. Chicken sisig,
on the other hand, can be considered as a healthier alternative because
chicken meat has lesser fat. This in particular makes uses of skinless chicken
breast; it is low in fat and high in protein. Thus, the firm decided to pursue this
product because of the distinctiveness of its resources and to promote healthy
lifestyle especially to those busy individuals or families who are having a
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morning marathon rushing around working against the clock to get their kids
dressed, fed, groomed, out the door and to others who are stuck in traffic on
their way to their workplace making them skip their breakfast.
C.MARKET ANALYSIS
The majority of the Filipinos are fond of Chinese cuisines for it captured the
heart and taste of Filipino palates through its delicious and comforting flavor as
evidenced by the hundreds of stalls eateries, and restaurants who serve them. If
there was ever a food designed for easy eating and truly embodies the term fast
food, it would have to be siomai. Almost bite-in-size, siomai is easy to eat as it
offers portability and convenience when youre busy and can pack quite enough
substance that it can fill you up. Like 4 pieces would be enough for a nice snack.
Another tray of four pieces will be enough for a meal. With the average lifestyle only
getting busier and hectic, retailers have an opportunity to appeal to consumers by
providing convenient and portable products. Offering consumers a variety of on-the-
go products gives retailers not only to increase sales but an efficient and effective
way for repeat business.
D. COMPETITIVE ANALYSIS
The most known competitor of the firms product are Master Siomai and
Siomai House, which offer varieties of siomai products catering to mouth-watering
steamed pork and shrimp siomai served with uniquely concocted chili-garlic sauce
that make it more scrumptious and dominate the availability within the country. Other
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potential competitor of the product will be the local markets which sell siomai
products around commercial areas. The firms product has a different twist and flavor
tackling the consumers palate with its flavorful and comforting taste. This savory
flavor combined with our marketing effort make us confident that we can take away a
sizeable portion of their market share. The convenience stores like 7eleven and
Ministop are also indirect competitors of the company for they provide the public with
convenience products that can be bought and consumed in minutes with higher price
compared to supermarkets. These stores have a large market share in the
companys target market even if they dont offer the same products but still have a
solid impact on the companys sales.
SWOT ANALYSIS
STRENGTH
The strengths of a business are the characteristics that give it an advantage over
its competitors. The major strength of SisigAlaSiomai is the uniqueness that can stand
out as an alternative to other siomai vendors because ours is made out of sisig, a
known Kapampangan dish, which is different from other siomai that are normally made
out of minced pork. Even though its price is higher than other siomai, people can still
relatively afford the price. People also can choose with our three courses: Steamed
siomai, fried siomai and steamed siomai with rice inside. This product is new in the
industry that can threaten the people to try it and can establish a customer base. Many
people have busy schedules that enable them to skip their meals, this product can help
them to survive their hunger and can eat it anywhere they want.
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WEAKNESSES
Since it is our first time to open a business, our primary weakness of opening
SisigAlaSiomai is entering the market with our basic knowledge in marketing.
Establishing a reputation on the internet will also be challenging because people might
not able to appreciate well the product when they only sees it in the screen, they might
think that it is only a normal siomai that they buy. SisigAlaSiomai has also a limited
product range because it is only running between siomaiwith inside and people can
able to duplicate it easily. Nonetheless, our company will help other people on how to
be business-oriented especially our one of our goal is to make our product to be
franchised. We will also prepare ourselves to perform an expert assistance to help a
profitable new locations.
OPPORTUNITY
Opportunities are chances to increase growth and profit for the business.People
are fond of trying new foods nowadays. Social development can be an opportunity by
changing customers taste that can lead to an increase in demand for our product. A
new product in a broad market means minimal competition and opportunities for
expansion. Business-minded people can also be attracted on our product because it is
new in the taste of the people that can enable them to franchise them outside the
Pampanga.The first franchise location will serve as a learning tool and will help
establish the brand, making marketing and development easy to repeat in another new
location.
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THREATS
A threat is defined as external elements that could be problematic for a new
business. The primary threat for SisigAlaSiomai franchise will be the cultural
differences. Health-related threats may also occur because some people are having
allergies with chicken and some are not also eating chicken when they are sick, for
example cough or cold. To overcome this challenges, it is important to do plenty of
research and be ready for all the problems that may occur.
OBJECTIVES
A.MARKETING OBJECTIVE
The company, in the first year of operation, intends to create awareness at least
80% of the target market that can be a unique alternative when they make purchase
decisions by using different promotion methods. The company intends to give free taste
for the first time to launch the product so that people will not be afraid to buy our
product. This will inch them closer to making us their product of choice. The company
anticipate to gather atleast 50% of the target market for the first year operation and aims
to gain trust and positive output to the customers.
B. FINANCIAL OBJECTIVES
The company will focus on sales and quality. Its projections indicate that it can
expect annual revenues sales of Php766,500 and a target profit of Php350,000 for
2016. To achieve the the companys revenue and profit goals, equipments and other
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materials needed to use in making siomai will demand to be purchased. The amount
that the company is seeking to finance is at least Php10,000. However, throughout the
period weekly feedback and modifications to the marketing approach should be
undertaken based on consumer feedback to ensure the intended message is being
broadcast as strongly as possible.
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TARGET MARKET
A. DEMOGRAPHIC VARIABLES
The primary target market of our company compromises, but it is not limited to,
students from different schools, professionals and non-professionals. These target
market are aged 5 to 80 years old regardless of its gender, nationality, family size and
religion. They are the target market because they can able to purchase our product in
very affordable price and anyone can easily buy it.
A. GEOGRAPHIC VARIABLES
Since our company is just new in the market, our target place is around Pampanga
because our product is Kapampangan food inspired. The first place that we want our
store to be franchise is in Angeles City because there are many tourists, schools and
beautiful places in this city.
B. PSYCHOGRAPHIC VARIABLES
Our company would appeal the personality characteristics like individual who are
realistic and efficient person. Individuals with these characteristics, as well as those who
would like to have it, may be influenced to buy the product. This can also appeal the
different lifestyles like family, homes, jobs and many more.
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C. BEHAVIORAL VARIABLES
The company made the product to be available alsoto all walk-in customers that are
fond of eating siomai who can be a light-user as a volume usage. Walk-in customers
can also convince other people to try the product. The companys product can be easily
identifiable and benefits can occur for the marketers.
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MARKET STRATEGIES
A.PRODUCT STRATEGIES
PRODUCT DESCRIPTION
Siomai, is the best asian food found in Asia. It has a lot of variations like
pork, beef, shrimp and shark's fin siomai. But our very own SisigAlaSiomai is a kind of
dimsum that is different from the others. Its main ingredients which is Chicken Sisig
makes our product to be recognized as a Filipino Food. Furthermore, our product
contains nutrition which we can get from chicken like protein, selenium, vitamin b6 and
phosphorus. We also added a half teaspoon of rice as a variety that makes our siomai
unique. Our SiomaiAlaSisig can be served as a steam or fried that accordance with your
taste.
PRODUCT LOGO
Our logo contains the name of our product which is SisigAlaSiomai so that
we can be easily recognize by our dear customers. Moreover, it has a picture of
siomai in chopsticks which represents the traditional way of eating it.
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PACKAGING
Our packaging has two forms. One is by the use of styro-bowl in a
rectangular shape for our customers who are willing to eat their siomai at the
moment they buy them. Another one is the paper meal boxes for the customers
who are taking out their siomai.
B.PRICING STRATEGIES
The organization's pricing objectives are to maximize profit and to gain
market share. After considering the expenses and costs, we made our price
strategy which as it easily affordable to the customers because price has the
direct effect on the success of any business. We also first analyzed the whole
target market and then set the reasonable price of our SisigAlaSiomai that we
offer which gives us a competitive advantage on business competitors. We use
the mark-up pricing where the cost of producing the product added to the mark-
up computed gives the selling price.
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Unit of Measure Quantity Cost of the
Product/Ingredients Cost/UoM
(UoM) Required item
Chicken (breast part) kilogram 1.000 P130 P130
Chicken Liver kilogram 0.250 P75 P18.75
Onions kilogram 0.100 P60 P6.00
Soy Sauce (as a dip) pack 8 P7.00 P56.00
Seasonings pack 1 P3.50 P3.50
Egg piece 2.000 P6.00 P12.00
Siomai Wrapper pack 2.000 P25.00 P50
Calamansi kilogram 1.000 P40 P40
Garlic kilogram 0.250 P90 P22.5
Chilli kilogram 0.250 P75 P18.75
Toothpick box 1 P15 P15
Siomaistyro-plate pack 2 P30 P60
Siomai Paper Meal
Boxes pack 2 P20 P40
Tong unit 1 P20 P20
Sauce Container unit 2 P30 P60
TOTAL P552.50
Quantity Produced : 130 pcs.
Mark-up Percentage : 40%
Unit Cost : P4.25
Mark-up : P1.28
Selling Price : P5.95 per piece or P6 per piece
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Computation:
Unit Cost = Total Cost / Quantity Produced
= P552.50 / 130
= P4.25
Mark-up = Unit Cost * Mark-up Percentage
= P4.25 * 40%
= P1.70
Selling Price = Unit Cost + Mark-up
= P4.25 + P1.70
= P 5.95
C. DISTRIBUTION STRATEGIES
The units to be distributed are lowbecause the company is only starting. Direct
distribution is more likely efficient since the product being sold must be delivered faster
to the consumers. This distribution strategy is more focused in manpower since the
enterprisers themselves are the one working for the product from buying the ingredients
to selling. This will eliminates the costs of sales commissions and discounts necessary
to generate business. It also allows personal contact with the consumer and the ability
to better answer questions and provide more customer service. And because no
intermediaries share the profits, it tends to have higher rates of profit than indirect
distribution channels.
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Suppliers Producers Consumers
D. PROMOTIONAL STRATEGIES
Our main objective is to get the word out and create as much anticipation and
excitement as possible about the product. The company would like to inform the public
what the product is, what it can do, and where they can find it. To achieve this goal,
advertising specifically pioneer advertising, would be used. A frequent strategy for this
strategy is to begin the campaign in the product development stage, before it is even
available to the public. This heightens anticipation and gets people talking about the
product in a favorable way. Since the product is still in introductory stage, advertising
costs are generally high during this period,but it quickly create customer awareness and
create a demand for the product. The company will provide free sample as a sales
promotion. By providing product samples, this serves as an opportunity to learn more
about the target market and how can improve the product so it exceeds consumer
expectations and gives a competitive edge but also welcoming consumer feedback
regarding the product.
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TIME TABLE OF ACTIVITIES
Date Activity Budget Assigned
Person
January By January 15, there will be a meeting regarding the ALL
final product concept to pursue.
February By February 5, the company will be conducting Princess Joy C.
concept testing to seek potential buyers responses FrenzKamille S
or opinion about our product. Jeramiah S.
March By March 10 all data should be gathered from the Christa Urania
customers for analyzation purposes and by March Carmela B.
15, there will be final revisions of the product Princess Joy
ingredients/design/features in accordance of the
customers preferences.
April By April 15, there will be an evaluation of the FrenzKamille
potential revenues and cost of the product. SWOT Jeramiah S.
analysis will also be prepared until the end of the
month.
May By May 5, there will be free taste on our product for Carmela B.
product sampling. Princess Joy C.
June By June 10, the company will analyze possible errors Christa Urania
and determine ways to improve the product. By Jeramiah S.
June 15, the company will produce the final sample
of the product.
July By this month, there will be a conceptualization of
the products name, logo, and plating. The company ALL
will also determine the selling price of the product.
August By August 15, Test Marketing will be conducted FrenzKamille
where there is a sample product to the selected Princess Joy C.
buyers. Analyzing the reactions of the potential Christa Urania
buyers and the proper advertisement to be use.
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Date Activity Budget Assigned
Person
September Finding suitable location for the product. Christa Urania
Carmela B.
October Finding suppliers of the ingredients. Purchasing of
cooking equipments and utensils to be used. Create Carmela B.
a products account on social networking sites like FrenzKamille S.
facebook to promote and create awareness. Princess Joy D.
Designing and finalizing of the products tarpaulin
and displaying it near the location.
November Launching of the product and Start of the business ALL
operations on November 15.
December By December 15, there will be a meeting about the ALL
business performance and analyzing the financial
reports.
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CONTROLS
To maximize the return on a marketing plan, there need to be controls in place to
monitor the plan's progress. One control put into place is the monitoring of customer
feedback through polls and surveys. Reaching customers indirectly by hosting online
polls on the Internet that ask specific questions about latest marketing plan improves
the performance of selling the product. Adjusting the decision according to the results of
your research benefit the company since it is still in introductory stage.
To generate a large target market sales is one of the companys marketing objectives.
Each marketing plan sets out to determine the effect of the plan on the target market.
Once again, this is done through market surveys or at the point of sale with the
assistance of co-owners. Actual sales in the target market are compared to the
marketing plan projections to see if any changes need to be made. For example, if the
target market for a marketing plan is male and female ranging 15 to 21, then the target
market sales reports would monitor sales made to that group. If sales are down, then
further market research needs to be done to see why the target audience is not
responding to the marketing. In some cases, analyzing a demographic breakdown of
sales may indicate that the initial target market was inaccurate and a new target market
may emerge based on sales data.
Another tool to be considered is budgeting. A marketing budget is a balance between
the cost of generating the advertising materials and the revenue created by the
marketing plan. Costs need to be closely monitored to minimize spending and maximize
profitability particularly promotional cost used to introduce the product. By examining
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expenses, the company is able maintain your budget and see exactly where spending
increases come from.
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FINANCIALS
PROJECTED SALES
MONTH PROBABILITY QUANTITY PRICE SALES
JAN 150% 8,138 P6.00 48,828.00
FEB 140% 7,595 P6.00 45,570.00
MAR 110% 5,968 P6.00 35,808.00
APR 80% 4,340 P6.00 26,040.00
MAY 95% 5,154 P6.00 30,924.00
JUN 200% 10,850 P6.00 65,100.00
JUL 170% 9,223 P6.00 55,338.00
AUG 185% 10,036 P6.00 60,216.00
SEPT 175% 9,494 P6.00 56,964.00
OCT 85% 4,611 P6.00 27,666.00
NOV 150% 8,135 P6.00 48,810.00
DEC 130% 7,053 P6.00 42,318.00
TOTAL 90,597 P6.00 543,582.00
PROJECTED INCOME STATEMENT FOR 2016
SALES (90, 597 x P6.00) P543 582.00
COST OF GOODS SOLD (90, 597 x P 4.25) P385 037.25
GROSS PROFIT P158 544.75
EXPENSES:
Utilities (P3000 x 12) P36 000
Promotion ( P1500 x 12)P18 000 ( P56 000 )
NET INCOME P102 544.75
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APPENDICES
Links
http://www.knorr.com.ph/recipes/detail/11880/1/shrimp-siomai-recipe
http://businessdiary.com.ph/609/how-to-make-siomai-pork-siomai/
http://www.pinoycookingrecipes.com/pork-siomai.html
http://foodcitations.com/cook-your-own-siomai/
http://businessdiary.com.ph/787/how-to-start-your-own-siomai-business/
http://www.entrepreneur.com.ph/board/index.php?topic=49319.0
http://businessdiary.com.ph/787/how-to-start-your-own-siomai-business/
https://en.wikipedia.org/wiki/Shumai
https://en.wikipedia.org/wiki/Sisig
http://smallbusiness.chron.com/examples-controls-marketing-plan-11575.html
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