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Transcript of Pastillas
Current Product Situation
Pastillas is one of the common delicacies in the Philippines.
One of the challenges that the producers may encounter is that our product is very common in the market.
Some of our competitors are those who sell:
We want our product to be competitive enough to the existing products related with it. And in order to achieve that, we would create a strategy that will help us show the uniqueness of our product. And one of those strategies are the unique flavors of pastillas. Unlike other pastillas, it has a taste of yema.
Short Term Goal
Since we are new in the business, our first goal is to recover our expenses. After we have achieved the first goal, the next one is to make it known or popular. Once our product is known in the market that will be the time we'll earn money because many people will purchase our product.
Starting a small business is really an exciting and interesting adventure. For students like us, we figured out that the sweet products like pastillas is a good start for a business. There are many factors we need to mull over, considering starting a business is not that easy. One of these factors is the financial expectations. Financial expectations are probably the single most intimidating and difficult portion of a marketing plan. It covers the fund that we will use to make and produce our product and it also includes the things we will utilize in promoting it.
Long Term Goal
Once we have achieved the short term goals, there will be a greater chance to achieve the long term goal. Our first goal is to maintain our business not only in the university but also in the market. Second, to earn a lot of money after a year. It would mean that the strategies we have created are effective.
Our consumers are in different demographics, life stage and ages, children, teens, adults, even the seniors, girl and boy, and those who love to it. But of course children will be the dominant consumer, since they love sweet stuffs, especially when they have tantrums, it is a good bait for them. They will easily love our pastillas.
Our pastillas is not only for single customer, but for group too. It is really applicable to a large number of people in a group. Since people have different taste, they can have three flavors at a time.
Pastillas with love is different from other pastillas, you can get Vitamin C in our orange pastille, cookies and cream for children. It is more nutritious than chips because pastillas with love is made up of milk, to make your bones stronger. It is more affordable than other candies and pastries. And it doesn’t affect your health that much, because we will make it healthier. Pastillas contains protein 5.3 grams, cholesterol 29.3 mg, Calcium 20%, Iron 2 /serving, sugar 9.9, Vitamin A 6.7% , B 4.4% ,C 3.2%, D 16.7%.
Since we our only starting, we will not go that far. The best place to introduce this pastillas of ours is in the place we live and to our university. We will maximize the resources’ we have as a student. So we can test if the pastillas will be sold out immediately. Or people in these surroundings will like our pastillas. If we got positive feedback, it is the time we will go further. Near barangays or cities, and also, for us to have many costumers we will start to the lowest and go up in this way many people will know about our product, since we have levels of life style, its either rich or poor or the middle class, they are mix in the community.
Since our product is for everyone we will make it to the point that everyone will afford buy one, or they can make it a habit.
Our pricing will be based on the quality of the product that we are selling, and the expenses we made. So that we can still continue our operation, at the same time earn profits. So the price is 7php/piece or 3ophp/pack.
For the promotion, we allotted money for posters but we will just make it small and simple since we are just starting and our product is not that classy. Besides, we can also endorse it through social networking sites like Facebook, Twitter and Instagram. In this case, we can make savings to be used for future purposes.
We chose to advertise our product thru social media because most of the target market is aware on facebook and youtube. It is easier for them to know the product if they see it often. Unlike other advertisement, this strategy is cheaper. Anything in social media is easy to disseminate to others even without payment. Just post it, and let people recognize and be interested in your product.
While promoting the product (pastillas), the customers’ satisfaction for the entire good is also being fulfilled. Customers’ will not notice that the strategy is doing in favor of the producer because of the benefit they get from it.
We will a hire person who has a good personality and good in public speaking, in that way that person can build up a good reputation to our product. He or she can convince the people to purchase our product and they will not regret buying it
We are familiar with social networking and other related channel with this; we will maximize the use of these channels so we can promote our product more. It can reach the people wherever they are. We can create a website for our product, so people can also purchase online.
Powdered Milk 80.50/pack
Condensed milk 46 php/ can
Sugar 23.50php/ ½
Peanut butter 63.50php
In business, it is a trial and error procedure. In our case, maybe we can experience many
failures, before we can finally succeed, but the most important thing is to learn from our
own mistakes to avoid doing it again.
In promoting our product, if all channels would be used to introduce our product
properly, we will maximize it or vice versa, if we focus our selves in promoting our product,
we spend too much we will minimize it. Or if the adjustment is in production, we are lack of
workers. We will hire with accordance to our profit.
All in all, we will be extra careful this time, we will do research and monitoring to know what
is trend to the market, in different places, for different people. So the next time we make
pastillas, everything is there. One pastillas, but for all.