Chapter II
Market Study A market is defined as the sum total of all the buyers and sellers in the area or region under consideration (Bennett, 2015). Market study is the central of any business. It contains guidelines and principles of an entrepreneur in decision making. It includes all information about size of a market and it depends on the total of people who exhibit the needs, the resources to engage in exchange and are willing to offer these resources in exchange of what they want. SWOT analysis is a part of study too. This will allow the proponents to be aware of the demand and supply situation also the opportunities in the market and the best marketing strategy.
Objectives of the study The main objective of the study was to prove the marketability of the proposed business. Specifically it sought to 1. To identify the target market who will be suitable for the proposed product 2. To project future demand and supply of the product in the market 3. To determine the corresponding selling price of the proposed product 4. To be able to draw conclusion base on SWOT analysis 5. To formulate an effective marketing strategy and program in order to penetrate the market.
Methodology
Methodology is the systematic theoretical analysis of the methods applied to a field of study. It comprises the theoretical analysis of the body or methods and principles associated with a branch of knowledge. (Howell, 2013) The proponents used data gathering instrument to generate reliable information. The proponents also prepared a self- constructed questionnaire that will supply necessary data to complete the study.
Research Design Before examining types of research designs it is important to be clear about the role and purpose of research design. We need to know where design fits into the whole research process from framing a question to finally