Exploratory market study on seaweed chips

Date

2008

Degree

Bachelor of Science in Agribusiness Management

College

College of Economics and Management (CEM)

Adviser/Committee Chair

Mojica, Loida E.

Abstract

The study was conducted to determine the market acceptability of seaweed chips in Nasugbu, Batangas, where the product is being processed. Specifically, it intended to describe the buying and consumption behavior of the consumers with regards to the product type, to determine the level of awareness and familiarity of consumer with seaweed chips, to identify the product attributes that are of value to customers, to evaluate the product in terms of identified attributes, to establish positioning strategies based on the attributes of the product, and to develop a marketing plan for the product if it is found to be acceptable or to recommend actions to improve the product if it is found to be acceptable or to recommend actions to improve the product if it is found to be unacceptable. Series of surveys and test were done, such as focus discussion (4 sets), market consumer, and product test, to determine the buying bahavior of potential consumers and to determine the respondents' level of liking regarding the product's attributes. There was a total of 150 purposively chosen respondents subjected to the market and consumer survey and product test. The respondents were categorized into high school students (62), college students (51), and adults (37). The data gathered from the market consumer survey were analyzed using frequency counts and percentage distribution, the data from the survey and products test were analyzed using mean ratings and ranking. Chi-square Test was used to determine if socio-demographic characteristics of the of the respondents affect their rating on level of liking with product attributes. The results of the product test were subjected to kruskall Wallis Non-parametric test to determine if the level of liking for the product based on its attributes varies among groups. Lastly, to test if there were significant differences on importance rating on product attributes and level of liking rating on seaweed chips, Mann-Whitney Non-parametric test was used. The results of the study showed that most of the respondents were not aware that seaweed chips was available in the town, however, the respondents were familiar with different kind of seafood chips, especially prawn and fish crackers. Most of them were fund to purchase Oishi, a brand of seafood chips. The most important attributes of chips which consumers seek are crunchiness and taste. Color was found to be the least important. For most of the respondents, tast, odor, crunchiness, general appearance, packaging and price were satisfier attributes, while color, texture, and size were residual attributes. Product test was done to determine what seaweed chips' attributes were accepted and what should be improved. The test confirmed that crunchiness and taste were the most accepted attribute of seaweed chips, while the packaging was the least-liked attribute. Based on the Chi-square test of Independence, the level of the liking of the product attributes was not dependent on the socio-demographic characteristics of respondents. On the other hand, the Kruskall Wallis Non-parametric Test showed that level of liking rating of attributes such as texture, packaging, and general appearance between age are not significantly different. On the other side, level of liking rating on taste, odor, color, and crunchiness significantly differ among groups. In general, seaweed chip was acceptable in Nasugbu, Batangas. However, some modifications and improvement should be considered to attract the target consumers to patronize the product, giving more focus on packaging due to the fact that this attribute was the least accepted. Brand name and brand label test were done. There were 23 generated names, and these names were subjected to selection by high schools and college students to come up with 5 names which has been assessed by association, recall, pronunciability, and preference test. The most preferred name was "Pinoy Seaweed Chips". Polyethylene plastic would still be used as the packaging material since processors have limited budget. The market of the product is across all ages. Seaweed chips could be positioned as the first locally made seaweed chips in the market, and the processors could promote seaweed chips as town delicacy or curiosity item from the town. The product could also be promoted by different advertising campaign such as word-of-mouth, posting of teasers, banners, and printed advertising materials, free product sample testing, advertising to the local cable TV station (CABLETRONIS, Inc.), and through joining local trade fairs. Aside from distributing the product on sari-sari stores, resorts, and schools. seaweed chips could serve as a souvenir item for guests whenever there are government project, activities, and social gatherings. It is recommended that a Feasibility Study of Establishing a Seaweed Chips Processing Plant be conducted to help potential entrepreneurs or private companies who want to commercialize the product. In addition, it is suggested that marketing research should be conducted in other areas to determine the acceptability of the product.

Language

English

Location

UPLB Main Library Special Collections Section (USCS)

Call Number

LG 993 2008 M17 B37

Document Type

Thesis

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