Siomai Maker

1097 WordsMar 16, 20125 Pages
1.0 Executive Summary The Market The market for Siomai Making Machine is huge in the Philippines. The researcher has identified two distinct market segments that they will market their products to. The first segment is the DIY segment of individuals. The second segment is people that will utilize a semi-automatic machine to have the products made at their home. The Product Siomai Making Machine is introduced to the market, but has planned to mass produce for greater markets’ demand. Since it is semi-automatic, Siomai Making Machine can save the individual entrepreneur from 70%-90% of the total time and effort spent on making siomai. The Management Siomai Making Machine is invented by Mr. Rey Pauig (informations about the…show more content…
The first segment is the DIY segment of individuals. The second segment is people that will utilize a semi-automatic machine to have the products made at their home. There are other companies that only sell ready-made siomai. Most of them sell their products as franchise. 4.1 Market Segmentation Siomai Making Machine has identified two market segments to target. DIY These people usually work from their home. They have entrepreneur skills and like to expand business for bigger customers. This segment has a variety of motivations for do-it-yourself work. One motivation is saving money. Another is the satisfaction of completing the product on their own. Some demographic information of this group includes: • Age 26-56. • Male/Female • Married with at least one child at home. • Household income ranges from 50,000-80,000php • Has couple of regular customers Convenience This segment is looking for the advantages of a Siomai Making Machine without the challenge of exerting too much time and effort. They appreciate the value of the machine. This group recognizes the environmental and/or economic benefits of Siomai Making Machine. Demographic information is as follows: • Ages 35-65. • Married with at least one child at home. • Household incomes of 65,000-100,000php • 79% have an undergraduate degree. • 27% have a graduate degree or post undergraduate

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