Jaymel Venture's Dairymagic Rennet : A Technopreneurship Study

Date

4-2011

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Dinah Pura T. Depositario

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Abstract

This study, entitled “Jaymel Venture’s Dairymagic Rennet: A Technopreneurship Study” aims to report on the establishment of a technology-based start-up. It also presents the knowledge, skills, values, work ethics, and insights gained by the student-technopreneur in running the enterprise. Further, the study also documented certain problems encountered during the business start-up and proposed measures to address them. Lastly, it also attempted to key out important actions to help improve and develop the business to attain growth.

The research utilized descriptive and action research designs. It involved the preparation and implementation of a business plan. In order to assess the execution of the business start-up operations of microbial rennet and to fully determine its viability and sustainability, the technopreneur-student utilized a descriptive and action type of research design. Further, informant interviews were conducted with institutional buyers while potential clients answered market and consumer survey forms.

The technopreneur realized the great potential of commercializing Dairymagic Rennet in the province of Laguna because this is where small-scale cheese producers abound. As a new entrant in the market, Jaymel Venture can ensure its target market of high quality and cost- effective product. It will be positioned as a best-value product offering suited for micro and small-scale cheese production.

The chosen target area has about more than twenty cheese producers. The identified demand for this portion of the market was approximately more than 75 liters of coagulant for every week. Considering this, the establishment of Jaymel Venture shall aim to provide coagulants to the cheese makers in the town of Laguna.

The business undertakings done by the technopreneur were very difficult yet fulfilling. Activities such as rennet production, product demonstration, and marketing activities were done by the student-entrepreneur. Negative comments from various key people in the cheese making industry surfaced during the product introduction of Dairymagic. Several cheese producers in Sta. Cruz stated that they were not convinced by the effectiveness of the product being offered. The targeted market was not eager to try Dairymagic Rennet because they were used to using abomasum and vinegar in the production of white cheese.

Jaymel Venture was not very successful in selling its products to its target customers due to cultural, marketing and financing reasons. Though target market identification was easy, nonetheless, penetrating the market was not. Problems were encountered and addressed by the technopreneur, yet all her best efforts were not enough for her to gain profits from the business start-up.

This only goes to show that not all products which are carefully studied and thought of as being effective and efficient appeal to the market. Dairymagic Rennet has a competitive edge over the existing industry players but it is not an assurance that the business which sells this kind of product will gain revenues. The entrepreneur must also take into consideration other external factors such as culture, preference, taste, price, the economy, among others.

The technopreneur can explore the possibility of marketing the product in far-flung places such as Quezon Province, Bulacan, Leyte and Samar.

Language

English

LC Subject

Cheese industry, Dairy products, Business enterprises

Location

UPLB College of Economics and Management (CEM)

Call Number

LG 993 2011 M17 M38

Notes

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Document Type

Thesis

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