ARCINUE, ENFESTAN, ESCOBAR, JACOBO, MOLINA, PRIETO MARKET STUDY

CHAPTER 1

INTRODUCTION

Taking photos nowadays has become a mandatory thing. Especially to millennials,

they are very fond of documenting every single thing that they do like eat, drink, and even

when they go out on trips and those pictures are now usually uploaded to the different

social media sites we have today. It became a way of expressing one’s self, capturing

unforgettable moments, and reliving a memory but instead of just having a soft copy of

those precious pictures that can easily be deleted by just a click or can be corrupted at any

moment due to the uncertainty that technology has, why not go back to the traditional,

printed copy that can last for a longer period of time?

Not needing a physical store, not having headaches for monitoring loads of

inventory, and not stressing out while doing the work, photo booth businesses caught the

attention of the proponents. With this, the proponents came up with a Profitmaking Project

(PP) that will be named “4 Clicks, 1 Pic”. From the name itself, 1 printed copy will contain 4

different shots. Since some people just take pictures during special or formal occasions, this

PP aims to take pictures of people on normal days in the tourist spots found in Albay to

capture the moment that becomes special because of who they share these moments with

that can either be their friends, families, or their loved ones. It will be a rolling photo booth

that will be travelling and will be setting up at certain landmarks in Albay. All of the people

in the place where the rolling photo booth will be set up is encouraged and invited to avail

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the product. There will be a variety of props to be used, and there are certain layouts to

choose from. Each printed copy will be priced in a reasonable amount.

With this, people can document their normal day in an extraordinary way,

and adults can also evoke the nostalgic time where pictures are printed and are not seen in

phone screens and such.

Rationale

A feasibility study wouldn’t be complete without undergoing the market aspect. This

specific aspect is needed to determine the extent to which the products or services that will

be generated by the project are needed or demanded. This will also give a hint if the

proposed project will be a success or a fail. This chapter includes the target customers of

the proposed business project.

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Statement of the Problem

This study aims to determine the market feasibility of 4 CLICKS, 1 PIC. It also seeks

to find answers to the following questions:

1. What is the service to be provided?

a. Name of the service.

b. Reason for choosing the kind of service.

c. Uses of the service.

d. Target customers of the proposed business.

e. Location.

f. Strengths and Weaknesses.

2. What is the demand for the service?

3. What is the price for the service?

4. How will the service be advertised or made known to the public?

5. What will be its competitive advantage in the market?

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Project Framework

4 CLICKS, 1 PIC

Organization
Socio-
Technical and Financial
Market Study Economic
Study Management Study
Study Study

Figure 1

The proposed project feasibility study named “4 CLICKS, 1 PIC” will be accomplished

through five different but inter-reliant studies namely Market Study, Technical Study,

Organization and Management Study, Financial Study, and Socio-Economic Study.

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Research Framework

4 CLICKS, 1 PIC

Demand Marketing
Product Demand Price
Analysis Program

Figure 2

The proposed project feasibility study named “4 CLICKS, 1 PIC” includes the

following concepts: The product, demand for the product, demand analysis, the price of

the product and the marketing program to be used.

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Definition of Terms

Demand – it is the amount of goods that consumers or buyers are willing and capable to

buy for a specific time period while everything else stay the same.

Demand Analysis – it is the research into the desire of consumers for a particular product

or service. It used to identify who wants to buy a given product, how many units they are

likely to pay for it, how many units they might purchase, and other factors that can be used

to determine product change, selling cost and advertising strategy for a product.

Marketing Program – It is a coordinated, thoughtfully designed set of activities that will

help achieve marketing objectives.

Price – A value that will purchase a finite quantity, weight, or other measure of a good or

service. It has a combination of tangible and intangible attributes (benefits, features,

functions, uses) that a seller offers a buyer for purchase.

Product – A good, idea, method, information, object or service created as a result of a

process and serves a need or satisfies a want.

Supply – it is the total amount of a product (good or service) that the producers are willing

to produce and are available for purchase at any specified price.

Supply Analysis – a detailed review of the inputs and outputs of a process that is

employed to assess how the available quantity of a product is affected by changes in

demand, input factors, and production techniques.

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CHAPTER 2

METHODOLOGY

This chapter presents the sampling design and methodology used in conducting the

study. Moreover, this chapter also includes the population identity, population size, size

computation, research strategy, instrumentation, data collection procedure, data analysis

tool and work and financial plan.

Sampling Design

To determine the sample size of the total number of respondents, the proponents

made used of the random sampling method. The sample size of the total number of

population will serve as the respondents for the study.

Population Identity

The population of this proposed project came from the residents of Albay.

Population Size

There are about 1,314, 826 inhabitants in the province of Albay as of 2015.

According to the 2015 census, Legazpi City has a population of 196,639 and Camalig, Albay

has a population of 66,904 people.

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Size Computation

The proponents determine the sample size or the number of respondents by using

the formula n= N/1+Ne2. The proponents came up with the total of 100 respondents

coming from the population of Albay. (See schedule 1 for computation)

Research Strategy

The proponents conducted a survey in order to attain the purpose of this study. To

know if there are possible demands to this project that will be launched and to evaluate the

feasibility of the business, this strategy was used. Also, through researching and interviews,

the proponents collected other data essential to the study.

Instrumentation

The study made use of survey forms. These forms were given to the respondents to

attain the information needed to achieve this study. The proponents made it certain that

the instrument is appropriate and will be an advantage to the study.

Data Collection Procedure

The proponents conducted a survey to the sample size of the total population of the

residents of Albay to know if the business is feasible enough for the respondents to avail

the service or not. This will serve as a basis if there will be a demand in the service that will

be given. The proponents also used the internet in gathering essential and related

information.

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The proponents also visited the following persons and offices to gather data for the

purpose of conducting this study:

1. Mrs. Nanette T. Ala; Statistical Specialist (National Statistics Office)

2. Quituinan Hills Management

3. Mr. Julius Del Rosario; Market Administrator

4. Mr. Felipe Noe Napa Jr. (Brgy.Captain); Sumlang Lake Management

Data Analysis Tools

The proponents projected the number of tourists and residents by using the growth

rate from the past few years. The three locations where the business will operate are in

Sumlang Lake, Quituinan Hills in Camalig Albay and Legazpi City Boulevard. The data

presented from the year 2015 until present are the ones to be computed to get the growth

rate which will be used in projecting the number of tourists and residents in the three

locations stated.

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Table 1

Working Plan

ACTIVITIES DURATION
CHAPTER 1: INTRODUCTION
Rationale 1 day
Statement of the Problem 1 day
Background 1 day
Project Framework 1 day
Research Framework 1 day
Definition of Terms 1 day
CHAPTER 2: METHODOLOGY
Research Design 1 day
Sampling Design 1 day
Population Identity 1 day
Population Size 1 day
Size Computation 1 day
Research Strategy 1 day
Instrumentation 1 day
Data Collection Procedure 7 days
Data Analysis Tools 1 day
Work and Financial Plan 1 day
CHAPTER 3: RESULTS AND DISCUSSION 5 days
CHAPTER 4: SUMMARY AND CONCLUSIONS 2 days
CHAPTER 5: RECOMMENDATIONS
Work Cited 1 day
Appendices 1 day
Consultations 1 day
Research 1 day
Encoding 1 day
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Table 1 shows the activities and number of days the market study was conducted by
the proponents.

Table 2

Financial Plan

EXPENSES AMOUNT

Fare 121.00

Printing 180.00

TOTAL 301.00

Table 2 shows the financial plan of the proponents. It presents the amount spent in
conducting the market study.

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CHAPTER 3

RESULTS AND DISCUSSION

This chapter shows the gathered data which has been analysed and interpreted for

the fulfilment of this study. It contains the service description, uses of the service, the

target market, the location of the service, the demand for the service, the different market

and promotional strategies, the price of the product and its pricing scheme.

Service Description

The proponents observed that people now a days are fond of taking pictures where

ever they may be to capture the moment. These pictures they take are only kept in their

albums within their phones or other gadgets and are sometimes posted online but

technology has its disadvantages. Those pictures that are continuously stored within

gadgets have no assurance to last and still be present after some years due to some

circumstances that humans cannot control. As a solution to the uncertainty of the pictures,

the proponents have come up with an idea to make those memories as a hard copy

souvenir that can be kept for a longer period of time.

The proposed project entitled “4clicks, 1pic” would be a rolling photo booth that will

be going around the visited tourist attractions that Albay offers specifically Legazpi

Boulevard, Sumlang Lake and Quituinan Hills. This project would serve as an accessible way

to have a hard copy of the costumers’ photos that can serve either as a souvenir for the

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tourists or a remembrance that can also promote the home land of the people residing in

these areas at the same time.

Name of the service

The name of the business is one of the things that must be taken into full

consideration for it is the name that will be known to the people. It has to have an impact

that will be easily remembered by the people. The name must be related to the business

thus, the proponents decided to call the proposed project “4 clicks, 1 pic”. With just 4 clicks

from the camera, a picture would be printed out containing the 4 shots of the costumers.

Uses of the Service

This service can be of use to different aspects such as the following:

 To produce hard copy pictures that will last a longer period of time

 To promote the different tourists spots found in Albay

 To provide an easier way to have souvenirs/remembrance

Users of the Service

The target market of this service is the residents of Albay. The tourists visiting

Legazpi Boulevard, Sumlang Lake and Quituinan Hills can also avail this service which can

serve as their souvenirs. They would be the said users of the proposed project.

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Location

The proponents of 4 pics, 1 click have decided to set up the photo booth in Sumlang

Lake in Camalig, Albay during mornings and will transfer either in Quituinan Hills which is

also located at Camalig, Albay or in Legazpi Boulevard during afternoons until evenings.

The location is not permanent for it is the concept that the proponents have thought of. It

will travel from place to place in order to have more possible customers.

Demand for the Service

Since this is the first ever rolling photo booth to operate, the people is not familiar

with it. Therefore, they would have no background knowledge regarding it that may affect

their decision on availing this said service. In setting up a business, you should always

know first the demand for the service or product that you will offer because without

sufficient demand, the business will not grow which will indicate that the proposed project

is not feasible. In order to know the demand for the service, the proponents conducted a

survey to some of the residents of Albay which are the main target market of this study.

(See schedule 2 for the survey questionnaire.)

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Table 3

Total Population of Albay Province: as of August 1, 2015

Municipality/City Population

Bacacay 68,906

Camalig 66,904

Daraga (Locsin) 126,595

Guinobatan 82,361

Jovellar 17,308

Legazpi City (Capital) 196,639

Libon 75,172

City of Ligao 111,399

Malilipot 37,785

Malinao 45,301

Manito 24,707

Oas 67,960

Pio Duran 46,693

Polangui 88,221

Rapu-Rapu 36,920

Santo Domingo (Libog) 34,967

City of Tabaco 133,868

Tiwi 53,120

TOTAL 1,314,826

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Table 3 shows the total population of Albay as of August 1, 2015 according to

the Philippine Statistics Authority from their 2015 Census of Population. Included in the

table are the different number of residents in the cities and municipalities found in Albay.

Table 4

Projected Total Population of Albay (2010 Census Based)

YEAR TOTAL POPULATION

2010 1,247,600

2011 1,268,959

2012 1,290,684

2013 1,312,781

2014 1,335,256

2015 1,358,000

2016 1,380,940

2017 1,404,268

Table 4 shows the projected population of Albay according to the Philippine

Statistics Authority based on the Census conducted last 2010. The projection showed above

is solved using the ratio method.

Table 5

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Projected Number of Albay Residents

YEAR PROJECTED POPULATION OF ALBAY

2018 1,428,281

2019 1,452,705

2020 1,477,546

2021 1,502,812

2022 1,528,510

Table 5 shows the projected population of Albay in the next five years. (See

Schedule 3 for computations)

After verifying the total population, which is the time that the proponents will

conduct the survey. The proponents equally distributed the survey questionnaire to the

respondents through the proponents until it reached the sample size of 100 respondents.

Out of the 100 respondents, 86 or 86% are willing to avail the service and only 14

or 14% of the respondents are not interested in availing the service. Some of the reasons

of those who are willing to avail the service states that it is because the service is

affordable, and that it can also be a way to promote the tourism of Albay, and lastly,

because it will serve as instant souvenir to the people. The remaining 14% state that they

have their own cameras or cellular phones and that they can use to take their own photos

which serves as the main reason why they will not avail the service.

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Table 6

Projected Demand for the Service

YEAR PROJECTED WILLINGNESS TO TOTAL DEMAND

POPULATION OF AVAIL THE

ALBAY SERVICE

2018 1,428,281 86% 1,222,322

2019 1,452,705 86% 1,249,326

2020 1,477,546 86% 1,270,690

2021 1,502,812 86% 1,292,418

2022 1,528,510 86% 1,314,519

Table 6 shows the projected demand for the service. The projected number of

Albay’s population starting with the year 2018 is multiplied to the percentage of those who

are willing to avail the service according to the survey conducted by the proponents. The

answer would result to the total demand for the service.

Table 7

Demand Analysis

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YEAR TOTAL DEMAND SERVICE CAPACITY MARKET SHARE

2018 9,600 0.79%

1,222,322

2019 10,000 0.80%

1,249,326

2020 10,400 0.82%

1,270,690

2021 10,800 0.84%

1,292,418

2022 11,200 0.85%

1,314,519

The proposed project, 4 clicks 1 pic will be the only existing project with this kind of

service offered to the market so every year, the service capacity will increase by 400 to

cope up with the high number of demand.

Price of the Service

The four shots taken is printed as one picture that costs about P60 to P75, including

the costs of the raw materials, the different expenses and the effort of the ones who are

behind the PP since it is done manually.

Selling Price

A printed copy has a price ranging from P60 to P75, depending on the size. The

price of the different packages includes the cost of production, the amount of the raw
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materials and the manpower used to operate the said business. The following are the sizes

to be offered and to be chosen from:

 Option A: Bookmark Size – P60

 Option B: Regular Size – P65

 Option C: Family Size – P75

Each printed copy will contain four (4) different shots and will have a layout chosen

by the customer. The price will vary in size the size of the printed copy itself.

Factors Affecting the Market

Weather

The Rolling Photo Booth will operate only during weekends and the weather on

those said days will be a big factor that will affect the number of people who will visit the

different places the photo booth will set up. There will be limited people if the weather is

not good and when the day is sunlit, there is more chance of the service being availed.

Area Development

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As the area of the tourist spot develops, it has more chances of attracting and

gaining people to see the spots for themselves, which is a good sign for the said service for

it will bring more possible customers to them.

Vacation/ Holidays

Whenever the people have the opportunity of a vacation or a holiday, more often,

they go to the famous tourist spots in Albay. This will give the business a chance to

showcase their service.

Market Strategies

It is very important to market your business, so it is a must, especially if the said

business is new to the eyes of your target market. Creating an effective marketing strategy

will ensure a great potential of any service or product that can penetrate the market.

Pricing Scheme

Pricing is an influential factor which gives an indication for a customer whether

he/she will avail a certain service or product. The service offered costs prices ranging from

P60 to P75 and of cash basis only.

The raw materials are one of the biggest factors in the pricing aside from the time

and effort of the people behind the service/product.

Promotional Strategies

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The best way to reach your target market is through advertising. The proponents

decided that they will promote the service offered through social media and word of mouth.

They will create a Facebook page which will showcase the service that is being offered and

the produced pictures will also be posted in this page.

CHAPTER 4

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SUMMARY AND CONCLUSION

Summary

The market study attempts to answer the question "Is the proposed service entitled

4clicks, 1pic feasible to the market?" The proponents conducted a survey to look if there is

a demand to be found for the service. The data gathered are used to propose the demand

for the service which is used to look at the comprehensive demand for the service.

The market study also addresses the factors that influence the market and

marketing programs or plans used to advertise the proposed project.

Conclusion

The market study desires to examine the demand for the service. There is a high-

level percentage of eagerness to use the service which is a vigorous sign in the continuing

proposed project.

Results and Findings show that going into this kind of service is very commendatory

and favourable as supported by the data gathered by the proponents in the previous

discussion.

CHAPTER 5

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RECOMMENDATION

The proposed project entitled 4clicks, 1pic will be the only existing PP that will offer

the kind of service to the target market that is why it is recommended to be launched in

Legazpi City Boulevard, Sumlang Lake and Quituinan Hills located in Camalig Albay. These

places are known as some of the most visited spots by tourists because of its ambiance and

good location. There is a high possibility of making this project a success as supported by

the data shown in the previous discussion. The most essential part is the proper execution

of the project and the standards to be placed on it. The proponents and the respondents

recommend that the Rolling Photo Booth will only operate during weekends to maximize

profit and minimize cost since people are usually busy on weekdays and only have their

weekends as their leisure time.

If the proposed project will be successful, then the proponents and the respondents

recommend that this service must be offered to the Department of Tourism so that it can

be a huge asset to any event or tourist spot, help preserve memories and can print all the

photos taken at the same time and Increase recognition of tourism as an effective and

efficient tool towards socio-economic development of the Province of Albay.

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APPENDICES

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Schedule 1
Computing the Sample Size

Formula:

n= N
-------------
1 + Ne2

Where:

n = sample size

N = population

e = margin of error

Given:

n=?

N = 1, 314, 826

e = 10% or .10

Solution:

n = N
-------------
1 + Ne2

= 1, 314, 826
----------------------------
1 + 1,314, 826(.10)2

= 1, 314, 826
----------------------
13, 149.26

= 99.992395 or 100 respondents

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Schedule 2
Survey Questionnaire

St. Agnes Academy

Feasibility Study: Market Study
4 Clicks, 1 Pic

Dear Respondents,

We are a group of Grade 12 Accountancy and Business Management Students from St.
Agnes Academy conducting a survey needed in partial fulfilment for our Project Feasibility
Study. We are hoping for your honest opinions and cooperation.

-The Researchers

Name(Optional): Age: ____________

Gender:__________

Address: _________________________________________________________________

Status: ___ Occupation: ____________________________

INSTRUCTION: Please check the space provided that corresponds to your answer and write the
needed information to be specified.

1. ( ) Albay Resident ( ) Tourist/Visitor

2. In what age group do you belong?

( ) 14 – below ( ) 21-30
( ) 15- 20 ( ) 31 – above
3. ( ) Student ( ) Employed/Self - Employed
4. What is your monthly salary/allowance?
( ) 5k – below ( ) 13k – 20k
( ) 6k – 12k ( ) 21k - above

Service Information

We will be having a Project Feasibility Study entitled “4 clicks, 1 Pic Rolling Photo booth”
to capture the moments of tourist in the different attractions found in Albay.

1. Will you support/avail this project if ever it will be launched? ( ) Yes ( ) No

Why? ________________________________________________________________

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Schedule 3

Computing the Projected Number of People in Albay

Formula for Growth Rate:

= Population in succeeding year – Population in base year x 100%

Population in base year

YEAR COMPUTATION GROWTH RATE OF THE

POPULATION OF ALBAY

2010-2011 1,268,959-1,247,600/1,247,600 x 100 1.71%

2011-2012 1,290,684-1,268,959/1,268,959 x 100 1.71%

2012-2013 1,312,781-1,290,684/1,290,684 x 100 1.71%

2013-2014 1,335,256 – 1,312,781/1,312,781 x 100 1.71%

2014-2015 1,358,000 - 1,335,256 / 1,335,256 x 100 1.71%

2015-2016 1,380,940 - 1,358,000 / 1,358,000 x 100 1.71%

2016-2017 1,404,268 - 1,380,940 / 1,380,940 x 100 1.71%

TOTAL 11.97 %

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Formula: Total Growth Rate of the Population/No. of Years

Solution: 11.97%/7 = 11.97% - the percentage of increase every academic year

Projected Number of Population

Present Year (2017): 1,404,268 x 1.71 % = 24,013

YEAR PROJECTED NUMBER OF POPULATION

2018 1,404,268 + 24,013 =1,428,281

2019 1,428,281 x 1.71% = 24,424 + 1,428,281

=1,452,705

2020 1,452,705 x 1.71% = 24,841+1,452,705

=1,477,546

2021 1,477,546 x 1.71% = 25,266+1,477,546

= 1,502,812

2022 1,502,812 x 1.71% = 25,698+1,502,812

=1,528,510

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