College of Business Management

Saint Vincent’s College Incorporated

Padre Ramon St., Estaka Dipolog City

In fulfillment of the Requirements in

MMPS31 – Pricing Strategy (TTh – 4:00 to 5:30 pm)

Submitted to:
Mrs. Marites G. Refuguio
MMPS31 Instructor

Submitted by:
Balladares, Zalea Dawn L.
Barcoma, Erica Kaisser B.
BSBA – MM 3 Students

December 2022
 PRICING STRATEGY

Product Review (Balladares)

Siomai are steamed Chinese dumplings that are usually filled with pork. It is commonly
served with a dip of mixed soy sauce, calamansi juice, and chili sauce in the Philippines. It was
widely regarded as one of the Filipinos' favorite street foods. We, the innovators, namely
Siomailicious, innovated siomai in a variety of flavors, instead of sticking with only one flavor,
we also added beef, chicken, and vegetables. A siomai with quail egg in the middle, either fried r
steamed siomai, and a drizzle of melted cheese sauce on top. By purchasing our product, our
customer may feel satisfied and fulfilled in terms of their cravings and at the same time can be
eaten alone even without rice. We would also like to show that a simple street food is concerned
not only with the taste but also with the health of every eater.

The product developer would

like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health.
The product developer would
like to show that a
simple street food will not only
be concerned with the taste but
also to every eater’s health
Description of the Market (Balladares)
For our target market, we are using the demographic and geographical segmentation.
Demographic Segmentation because we aim to innovate siomai that is suitable and is acceptable
by the students and Faculty & Staff of SVCI. We considered the race and allowances of the
students and also the income level of the Faculty & Staff. Geographical Segmentation, for a
reason that, there are also students who do not reside within the City of Dipolog and prefers to
eat inside the campus.

Competitors Analysis (Balladares)

The 3 competitors listed below are considered direct competitors:

Kim Resuera’s SVCI Canteen Food Cart outside
Siomai Siomai SVCI
Target audience Students Students, Faculty & Students, Civilians
Staff
Market position High-level quality Low-level quality Mid-level quality
Mid-level price High-level price Low-level price
Competitive Known by a lot of Accessible for all Easy access since it is
advantages students especially students and easier to located outside the
under Senior High locate campus and can be
School another alternative if
students don’t like the
one being sold inside
the campus
Marketing content Through word-of- Through word-of- Through word-of-
mouth mouth, and also since mouth
it is a canteen itself
Price range P5 each piece of P20 for 5 pcs. of P20 for 3 pcs. Of
siomai siomai siomai

Our biggest strength as a team is our collaborations skills, leadership & delegation skills,
Organization and Planning, Strong work ethic, Adaptability, and also Reliability. With these
strengths we are able to perform our individual responsibilities effeciently and communicate any
certain problems that may occur.
Although we are certain about our products, we still need to think ahead of time as to
how we should innovate our products in order to immediately implement it when our competitors
decided to step up their game. We as a team also enjoy and value our customer for them to keep
on purchasing our product. With this we can be able to sell our product long-term.

Pricing Strategy (Barcoma)

The pricing goals of the organization are to maximize profit and gain. market share. After
considering expenses and costs, we devised a pricing strategy that is easily affordable to
customers, as price has a direct impact on the success of any business. We also analyzed the
entire target market before setting a reasonable price for our Siomai, which gives us a
competitive advantage over business competitors. We use mark-up pricing, which is defined as
the cost of producing the product plus the markup computed.

Selling Price (Balladares & Barcoma)

Product Unit of Measure Quantity Cost

Beef Siomai 1 pack 30 pcs. P140
Pork Siomai 1 pack 30 pcs. P120
Chicken Siomai 1 pack 30 pcs. P120
Vegetable Siomai 1 pack 30 pcs. P120
Siomai Box 1 pack 50 pcs. P80
Siomai Tray 1 pack 50 pcs. P80
Siomai Fork Stick 1 box 100 pcs P75
Quail Egg 1 box 100 pcs. P140
QuickMelt Cheese 1 box 1 pc. P100
Water gallon 1 gallon P25
Total Cost P1,000

Quantity Produced: 120 pcs.

Mark-up Percentage: 40%
Unit Cost: P8.3
Mark-up: P3.3
Selling Price: P11.6 or P12

Unit Cost = Total Cost / Quantity Produced

= P1,000 / 120 pcs.
= P8.3

Mark-up = Unit cost * Mark-up Percentage

= P8.3 * 40%
= P3.3

Selling Price = Unit Cost + Mark-up

= P8.3 + P3.3
= P11.6

Since we sell our siomai by 3pcs or by 4pcs, our special products have a price range from
P35 to P45. Given that when they purchase 3 pieces it will cost them for P30 except for the beef
flavor which costs P35, with this, the siomai tray will be used. If they purchase 4 pcs it costs P40
except for the beef which corresponds to P45 and is provided with the siomai box.

Controls (Evaluation) (Barcoma)

The debut of our product is crucial in terms of how consumers respond to the product
costs. Given the low cost of our product, we also consider the purchasing power of our target
market, for the students, their allowances, and for the faculty & staff, their salaries.
For the benefit of having a free current and a store where we pay no rent, which is
favorable for us marketers, we often set our rates to be cheap or very affordable for a siomai that
is provided with a siomai box or a siomai tray together with a toothpick and is most importantly,
freshly made and the cost is reasonable enough for the customers to pay.
Monitoring customer feedback via polls and surveys is one control implemented.
Reaching customers indirectly through online polls on the Internet that ask specific questions
about the latest product improves our sales performance. Because the company is still in its early
stages, making decisions based on the findings of our research benefits it.