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Market Feasibility Study on Pencorder

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Date added: 17-09-18

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TABLE OF CONTENTS Title Page Acknowledgment i Executive Summary 1 Chapter 1: The Problem and its Scope 3 Brief Background of the Study 3 Statement of Research Objectives 4 Significance of the Study 5 Review of Related Literature 6 Scope and Limitation of the Study 8 Operational Definition of Terms 8 Chapter 2: Research Methodology 11 Research Design 11 Research Environment 11 Research Respondent 12 Research Procedure 13 Chapter 3: Presentation, Interpretation and Analysis of Data 15 Chapter 4: Findings, Conclusions and Recommendations 30 Findings 30 Conclusion 31 Recommendation 32 Bibliography 33 Curriculum Vitae 38 Appendices Permission Letter 35 Questionnaire 36 LIST OF TABLES Title Page Table 1. 1 – If there is a PENCORDER that can record presentations, discussions lectures and meetings, would you like to have one? 15 Table 1. - Would you like to customize your pen? 16 Table 1. 3 - Would you like it to be refillable? 17 Table 1. 4 - What are the major factors you consider in buying a pen? 18 Table 1. 5 - What is your purpose for having one? 19 Table 1. 6 - How many gigabytes would you like to have on your PenCorder? 21 Table 1. 7 - What audio device would you like to come with the PenCorder? 22 Table 1. 8 - What color pen do you prefer to use? 23 Table 1. 9 - Which colors would you prefer for the refill? 24 Table 1. 10 - Would you like the PenCorder’s battery to be rechargeable? 25 Table 1. 1 - How long would you like its battery to last? 26 Table 1. 12 - Where do you want to purchase the PenCorder? 27 Table 1. 13 - How much are you willing to pay for the PenCorder? 29 LIST OF FIGURES Title Page Figure 1. 0 – Cebu Normal University 12 Figure 1. 1 – If there is a PENCORDER that can record presentations, discussions lectures and meetings, would you like to have one? 15 Figure 1. 2 - Would you like to customize your pen? 16 Figure 1. 3 - Would you like it to be refillable? 17 Figure 1. 4 - What are the major factors you consider in buying a pen? 18 Figure 1. - What is your purpose for having one? 20 Figure 1. 6 - How many gigabytes would you like to have on your PenCorder? 21 Figure 1. 7 - What audio device would you like to come with the PenCorder? 22 Figure 1. 8 - What color pen do you prefer to use? 23 Figure 1. 9 - Which colors would you prefer for the refill? 24 Figure 1. 10 - Would you like the PenCorder’s battery to be rechargeable? 25 Figure 1. 11 - How long would you like its battery to last? 26 Figure 1. 12 - Where do you want to purchase the PenCorder? 28 Figure 1. 13 - How much are you willing to pay for the PenCorder? 9 EXECUTIVE SUMMARY We can never erase the fact that students and professionals will always use a pen every day in our entire lives. People always use it in school, work, and miscellaneous activities. This simple instrument will always be used for writing. But ever thought that one day this simple tool for writing will have a multipurpose use; through the curiosity and enthusiasm of people who want more from science and technology and who will look where the possible and impossible meet, making it “possimpable” , will doubtlessly synthesize this. Our study is about a product called PenCorder. It is an instrument for writing, recording, and storing large amount of files. If we were to break them down individually, this product would consist of a Pen, a voice recorder, and a USB flash drive. The PenCorder would do a great deal of helping students, workers and professionals. But there is one problem; we need to prove to them that this product will be very helpful to them and feasible to the market. Feasible to the markets located in malls, bookstores, school supplies store, or any venue applicable to the public. In order to know if this Product is feasible to the market, we prepared a non-experimental survey, decidedly a descriptive one, and when the survey questionnaires were ready, we commenced our survey in CNU. We chose CNU because we knew they were available, accommodating, and their classrooms were enough and convenient for them and us. When we summarized, analyzed, and made statistics of all the data we gathered, we then found out that the PenCorder will be feasible to the market. Also, the appellants were enthusiastic about the PenCorder and they wanted us to let them know as soon as possible when the PenCorder will officially be in the market. Therefore we conclude that this product will be feasible in the market and will do a great deal of helping the public. So it is also needed that further studies be conducted to know the Financial and technical aspects of this product. Another is to make this product a perfect product to all. CHAPTER 1 THE PROBLEM AND ITS SCOPE 1. Brief Background of the Study In this century, things have been changing, and these changes are the influence of technology. Every day, people try to think of new products for their companies in order to satisfy the receiving end. Since the pen has been in our lives the whole time, we must try to improve it so the pen can be more useful. The tool for writing has played an important part of our civilization, from the feather pen to fountain to ball point and to high-tech multi-purpose pens. We have been able to record history by writing them on paper by the use of these tools for countless times. Now that we are in this century, there are many other ways to do this, we can use our pc, palm held organizers, mobile phones to jot down notes. Also, it is always good to have a pen in your pocket for writing purposes. If we look at it simply, the pen doesn’t really need improvement because we all know it’s just for writing. But as business researchers in this generation, we need and want the pen to have multi-purposes. This study is made to explore the feasibility of a product that is functional, efficient as well as innovative where it offers different capabilities other than being able to write on a piece of paper; a product like a pen, which has the ability to record any voices and, at the same time, can be a storage device. Now, we can realize that this is not an ordinary device and this constitutes three unique habiliments - the pen, voice recorder, and lastly the flash drive. The product can greatly help not only the consumers and buyers but also the local economy. Given that this product has been marketable and successful in the foreign market, specifically the United States of America, there’s no doubt it will greatly boost our economy. 2. Statement of the Problem General Objective The study is to establish whether or not the product, the PenCorder, is feasible and conventional in the local market. Specific Objective • To determine the acceptability of the product in our country • To determine the specifications of the product • To determine the price that the customers are willing to buy the PenCorder 3. Significance of the Study The study aims to explore the feasibility of introducing an innovative pen with a voice recorder and USB flash drive, which will make the lives of many individuals more convenient and efficient. This will benefit the following: Entrepreneurs or Investors. It will enable them to know if the product will be accepted and backed up by Filipino clients/ buyers and will provide them data on the capital requirements. Students/ Schools. They will use it to store voice records of class discussions that need to be recalled. Community. This study can also benefit our economy through the creation of new jobs in this kind of business venture. Particularly, students and professionals can benefit from this in a way that they’ll be able to know the whole concept of the multi-functional product, and at the same time discover the advantages and uses it has. Government. The government can benefit through taxes and eventually it creates another business and generate employment. Economy. The breakthrough of the product in the local market will most probably boost the economy and will create a business chain reaction. Industries and Business Organizations. This will help them greatly in terms of communication and attending to their customers. Media. This will be a great aid to the work of media men all around the country. This will surely make their work easier in terms of getting information with a very limited amount of time. Other Researchers. This study will greatly benefit other researchers who wish to conduct further studies on the project feasibility of this product. 4. Review of Related Literature Electronics have brought the world of dictation a long way from a secretary using shorthand, all the way to tiny digital electronic recorders that can pick up every word you say. If you need to record speeches, interviews, classes, or lectures, an electronic recording device is critical. For many years, micro cassette recorders dominated the market. Based around the small form factor of the micro cassette, the recorders were a little larger that a deck of cards, or about the width of two rulers, though only about 5 inches long. These devices weren't bad - just as we adapted to fast forwarding and rewinding tapes in our answering machines and VCRs, we could do it without voice recorders, too, if we had to. But let's face it, no one likes juggling a bunch of tapes, trying to figure out how to copy, transfer, or save files from tapes, or all the rewinding involved with analog storage of data on tape. (http://www. galttech. om/research/audio-video-reviews/handheld-digital-voice-recorders. php) Digital Recorders - Everyone is talking about and to their digital voice recorders. Technology advances have not only dramatically improved the quality and usability of these hand held devices; it has also added a great deal of functionality. As market demand for small, easy to use note taking devices increase, manufacturers have responded by creating devices far superior to the old micro cassette units. The new improved digital recorders are significantly smaller, offer substantial increase in record time and ecord quality, and a host of new productivity features. (http://www. recorders. com/info/articles/16/1/Digital-Recorders-Advances-in-Technology/Page1. html) For example the Sony CD-SX25 allows users to store up to 99 voice recordings in three separate folders, and to email those files using the packaged software that compresses the files and provides other features for editing, playing, and storing files. In addition, the software is integrated with Dragon NaturallySpeaking speech recognition software, which allows you to convert recordings to text. Users say the technology is convenient, and easy to use. As society becomes more mobile, the demand for note taking devices that easily integrates with the pc increases. These units are popular amongst mobile professionals for obvious reasons but students and other market sectors are starting to gravitate to the technology as well. Some Universities are now promoting digital voice recorders as a means to help students take notes in class. The recorder basically functions as a study aid illustrating the technology is no longer just for business professionals. As the technology evolves other options emerge to help not only capture voice but visual information. In June 2005 Sony released the ICD-CX50, which functions as a voice recorder and records still pictures. The ICD-CX50 uses an integrated circuit that records your voice while taking pictures. Pretty amazing, you can basically dictate detailed information about any visual image and later play back the information in a slideshow format complete with narration and the corresponding images. Definitely makes you want to throw out your old tape recorder. Another factor lending to the popularity of the digital recorders is price. the units are competitively priced and cost substantially less than many other mobile devices such as pocket pc's and pda's making them very attractive to just about everybody. (http://www. recorders. com/info/articles/16/1/Digital-Recorders-Advances-in-Technology/Page1. html) Spy Pen Digital Video Recorder - The Spy Pen Digital Video Recorder is the smallest high resolution, real time digital video recorder ever produced. You won't believe the high quality video you can get with this tiny Video Recording Pen with 4GB of internal memory. Just plug the DVR Spy Pen into your USB port of a PC and instantly view the video. How simple can they make it? It is simply a remarkable piece of technology in our time now. It only works with a PC and I can't get it to work with my Mac. I also can't get it to work using Parallels on myMac with XP running. If you have a Mac, your only option is to reboot in Bootcamp and it will run just fine that way. It works only on a PC, XP, Vista, though not sure on 2000, though it's only been tested on XP. You have to plug in the device to a cable, and then, it will show up as a flash drive. Drag the videos to the desktop and you are ready to view. (http://www. eyespypro. com/products/Spy-Pen-Digital-Video-Recorder. html) 5. Scope and Limitation of the Study Subject Delimitation. The Pencorder Place Delimination. Cebu Normal University, specifically the College of Nursing, is the locale of the study. Time Frame. This study is done within the school year 2009-2010. 6. Operational Definition of Terms Computer - Programmable usually electronic devices that can store, retrieve, and process data; it is a machine that manipulates data according to a set of instructions. The ability to store and execute lists of instructions called programs makes computers extremely versatile, distinguishing them from calculators. Digital - Relating to an audio recording method in which sound waves are represented digitally (as on magnetic tape) so that in the recording wow and flutter are eliminated and background noise is reduced Digital Pen - It is an electronic pen that is used as a normal writing tool, as well as for writing on special digital paper it can save handwritten text to memory. Flash Drive - It is a flash memory data storage device which is typically removable and rewritable. It consists of a small printed circuit board carrying the circuit elements. It is insulated electrically and protected inside a plastic, metal, or rubberized case which can be carried in a pocket or on a key chain. USB (Universal Serial Bus) - It is a specification to establish communication between devices and a host controller and is intended to replace many varieties of serial and parallel ports. Today, USB has become the standard connection method of many gadgets. USB Flash Disk - It consists of flash memory data storage device integrated with a USB (Universal Serial Bus) interface. USB flash drives are often used for the same purposes as floppy disks were. They are smaller, faster, have thousands of times more capacity, and are more durable and reliable due to their lack of moving parts. Byte - A unit of computer information or data-storage capacity that consists of a group of eight bits and that is used especially to represent an alphanumeric character. Audio File - It is a file format for storing audio data on a computer system. It can be a raw bit stream, but it is usually a container format or an audio data format with defined storage layer. Gigabyte - One billion bytes Pen - A writing instrument regarded as a means of expression. It is a long, thin, rounded device used to apply ink to a surface for the purpose of writing, usually on a paper. Record - To set down, register, or fix by characteristic marks, incisions, magnetism, etc. , for the purpose of reproduction by a phonograph or magnetic reproducer. Voice Recorder - It is a digital, handheld device that is used to record short reminders. Very lightweight and typically using AAA batteries, such devices use flash memory to hold up to 100 messages and more. Messages can be retrieved sequentially or by direct access by message number. Slovin’s Formula –The formula that gives the degree of accuracy to a sampling technique. It gives an idea as to how many samples have to be studied taking into consideration the error. Rechargeable Battery - It is also known as storage battery; a group of one or more secondary cells. Rechargeable batteries use electrochemical reactions that are electrically reversible. Rechargeable batteries come in many different sizes and use different combinations of chemicals. Commonly used secondary cell ("rechargeable battery") chemistries are lead acid, nickel cadmium (NiCd), nickel metal hydride (NiMH), lithium ion (Li-ion), and lithium ion polymer (Li-ion polymer). CHAPTER 2 RESEARCH METHODOLOGY 2. 1. Research Design The researchers made a descriptive and action research because it is appropriate on the nature of the project feasibility study which is problem specific and which focuses on seeking feasible solution to specific problems or opportunities. Self-administered questionnaires were distributed and personal interviews were conducted to obtain important information. The gathered data were then tabulated, presented and analyzed to come up with conclusions and recommendation. Probability Sampling was applied because this method utilizes some form of random sampling. A simple random sampling was used where we are to pick out respondents from the population such that each person in the population has an equal chance of being selected as a respondent. 2. 2. Research Environment The research was conducted in Cebu Normal University, specifically the College of Nursing students. The College of Nursing was chosen by the researchers since this is one of the most populated course in most universities. With that, we would be confident to conclude what the youth would think about our product. Figure 1. 0 [pic] 2. 3. Research Respondent The primary respondents are students from the College of Nursing of Cebu Normal University. The researchers chose these respondents since this course requires a whole lot of writing and listening at the same time. What more do they need than the product. The population is estimated to be 650 from the 14 sections with more or less 45 students in each section. In order to obtain the sample size needed of the population stated above, Slovin’s Formula was used. The sample size needed is 236. The researchers were able to get 250 nevertheless. Random sampling was used to get the respondents. Each individual was chosen randomly and entirely by chance. 2. 4. Research Procedures These are the following procedures done which is important for the success of this study. The researchers got the following data from different sources which will be classified below. The following also states how the data were gathered and treated. 2. 4. 1. Primary Data The primary data is collected using survey questionnaires. The questionnaires are distributed who are conveniently available to answer some information needed for the study. 2. 4. 2. Secondary Data The secondary data were gathered through interview with some professional who have time to give some important information regarding the industry they belong to that be helpful for the study. The internet, books, journals, also proved useful with relevant information that otherwise would not found elsewhere . 4. 3. Gathering of Data The research instruments included survey questionnaires designed to obtain information necessary to the proposed study, which focuses on the willingness of buyers to patronize the Pencorder. The questionnaires made are designed to draw responses from the survey respondent relative to marketing and financial concerns of the study. The questionnaires were given to the respondents directly and randomly. After the questionnaires were answered, it was then collected immediately for the tallying and recording of data gathered. 2. 4. 4. Treatment of Data After the primary data were gathered, the researchers tabulated, analyzed and interpreted the data in accordance with the specific objectives of the study. The data collected were analyzed through descriptive analysis. In addition, these were the specific study objective. The data gathered is for effective interpretation and analysis of demand. The information gathered was used to determine the feasibility and acceptability of the PenCorder. CHAPTER 3 PRESENTATION, INTERPRETATION AND ANALYSIS OF DATA If there is a PENCORDER that can record presentations, discussions lectures and meetings, would you like to have one? TABLE 1. 1 |CHOICES |RESPONDENTS | |YES |246 | |NO |4 | |TOTAL |250 | FIGURE 1. 1 [pic] Figure 1. shows that 98% of our respondents have a preference to have our product, which is the PenCorder, and that the remaining 2% weren’t willing to buy the product. Based on the result of the survey, 98% of the respondents would prefer to have a PenCorder that can be useful to record audio presentation, discussions, lectures, conference and the like. This illustration gives us one of the reasons of why PenCorder must exist in the market. The minority result of 2% that would not need a PenCorder would be considered as those who believe to themselves that it is irrelevant of having a PenCorder in their field of work. Would you like to customize your pen? TABLE 1. 2 |CHOICES |RESPONDENTS | |YES |243 | |NO |7 | |TOTAL |250 | FIGURE 1. 2 [pic] Figure 1. 2 tells that 97% of our respondents would like to their pens to be customize, while the remaining 3% would prefer to have a pen as it is. This table reflects the result of our survey which shows that the majority would prefer to have their pens customize to fit their personality. However, considered there 3% who would want to have a PenCorder but not to have it customized to their preferences. The 97% who prefer to customize their pens indicates the respondents’ choice of having a pen catered to their preferable requests of how their pen should be. The 3% of those who do not prefer to customize their pen shows that they would rather buy a pen even if it does not directly cater to their preferences as long as it serves its purpose of being a pen. Would you like it to be refillable? TABLE 1. 3 CHOICES |RESPONDENTS | |YES |246 | |NO |4 | |TOTAL |250 | FIGURE 1. 3 [pic] Figure 1. 3 shows that 99% of our respondents would prefer to have it refillable for their pen, while 5. 5% of them would prefer not to have their pens refillable, or prefer to junk the old and buy a new one. Based from the responses provided by Table 1. 3, it is shown that 99% of the respondents prefer that their pens be refillable for them to be economical. And 99% believed that refillable inks are not just to be an economical but an economic friendly since recycling lessens the non-biodegradable wastes. And the remaining 1% or 4 of our respondents prefer to purchase a new pen because of certain reasons What are the major factors you consider in buying a pen? TABLE 1. 4 CHOICES |RESPONDENTS |PERCENTAGE | |QUALITY |207 |44% | |USEFULNESS |128 |27% | |PRICE |108 |23% | |STYLE |31 |7% | |TOTAL |474 |100 | FIGURE 1. 4 [pic] Table 1. 4 shows the four major factors which the researcher would like to know what the respondents considered most in buying a pen. Included in our questionnaire is to choose two factors to consider when choosing a pen. However, some of the respondents only checked one factor. Based from the four factors, 207 of the respondents prefer quality as the first choice when purchasing a pen. Next to that would be usefulness, which is preferred by 128 of our respondents. The last two considerations which we provided are affordability, which is preferred by 108 of our respondents, and style, preferred by 31of our respondents. The 207 of our respondents regard quality as the main focus because as consumers, they always want to get the most out of what they paid for. Usefulness, which is 128 respondents, would come in next since people would not buy if its purpose is just a waste. Affordability, which is 108, would be the third consideration since consumers would always consider the price of a product when purchasing. The last consideration would be style, which is preferred by 31 of our respondents. This is the least factor to be taken into account since consumers are not so particular about how their pen would look like as long as it serves its purpose of being one. What is the purpose for having one? TABLE 1. 5 CHOICES |RESPONDENTS |PERCENTAGE | |SCHOOL PURPOSES |227 |87% | |JOB |15 |6% | |BUSINESS/MEETING |13 |5% | |GIFT |6 |2% | |TOTAL |261 |100 | FIGURE 1. 5 [pic] Table 1. 5 shows the purpose for having a PenCorder. The data reflects that 227 of our respondents use the product for school purpose, 15 and 13 of them prefers to use it for business or meeting and for their jobs, respectively while only 6 of them would like to give it as a gift. Fifteen and thirteen respondents answered business or meeting and job purposes respectively. This reflects the number of people who are in the working class and they would specifically prefer to use the product in their various activities related to business and/or work. However, only 6 of the respondents chose the option of buying the PenCorder as a gift – this implies that our product may not be within the budget range of the consumer. How many gigabytes (GB) would you like to have one you PENCORDER? TABLE 1. 6 CHOICES |RESPONDENTS |PERCENTAGE | |32GB |159 |64% | |8GB |33 |13% | |16GB |26 |10% | |OTHERS |24 |10% | |2GB |8 |3% | |TOTAL |250 |100% | FIGURE 1. 6 [pic] Table 1. 6 shows the distribution of responses of 250 students. Based on Table 1. which shows the over-all response for every attribute, it appears that 32GB is ranked the highest percentage with 64% among all five attributes, followed by 8GB with 13%, then 16GB and others preferences with 10% , while 2GB ranked the lowest percentage with 3%. 152 respondents preferred the 32GB as the memory storage, because the larger the memory space the larger storage they can. It can help them to store important files and enable them to have back-up files in case for the deleting files. 33 respondents opted the 8GB, and 26 respondents opted the 16GB, and 24 respondents opted the other preferences, and 8 respondents preferred 2GB because the lower the memory space will be of lesser price. What audio output device would you like to come with the PenCorder? TABLE 1. 7 CHOICES |RESPONDENTS |PERCENTAGE | |BOTH |197 |79% | |SPEAKERS |42 |17% | |EARPHONES |11 |4% | |TOTAL |250 |100 | FIGURE 1. 7 [pic] Table 1. 7 illustrated the response of the respondents of what output device would they like to have on their PenCorder, is it with earphones, built-in speaker or both. The majority of the respondents or 197 out of 250 respondents having 79% answered both the speaker and built-in as the output device, because it will more convenient rather to have one output. However, 42 respondents with 17% preferred earphones for less noisy rather the built-in speaker, but 11 respondents with 4% preferred the built-in speaker for they can play back at any time and they can share it with others. What color pen do you prefer to use? TABLE 1. 8 CHOICES |RESPONDENTS |PERCENTAGE | |BLACK |205 |82% | |BLUE |39 |16% | |RED |6 |2% | |TOTAL |250 |100% | FIGURE 1. 8 [pic] Table 1. show that 82% of the respondent respond black ink, and 16% prefer to have it blue, and 2% opt red ink. This table shows that 205 respondents opt the black ink, due with all the respect and most likely for no reason other than black ink is the cheapest ink, and black ink to be more formal, maybe because most government forms prefer black ink since it's a lot more clear when you photocopy it. Then, 39 respondents prefer to have blue ink, because it can clearly see the difference in colors for the portions of a form that fill out as opposed to the pre-printed text. And 6 respondents answer red for emotional reasons because it's their favorite color. Which colors would you prefer for refill? TABLE 1. 9 CHOICES |RESPONDENTS |PERCENTAGE | |BLACK |158 |44% | |BLUE |51 |14% | |PINK |43 |12% | |VIOLET |36 |10% | |RED | 34 |10% | |GREEN |26 |7% | |OTHERS |8 |2% | |TOTAL |356 |100% | FIGURE 1. 9 [pic] Table 1. illustrated the color ink would like to refill their PenCorder. It shows that black ink is preferred most having the highest percentage of 44%, followed by pink ink with 14%, red ink with 12%, violet and green with 10%, blue ink with 7% and other preferences the lowest percentage having with 2%. The majority of the respondents prefer black one considering that it’s much clearer and somewhat the black color is very much convincing to use most especially for signing documents and other official documents. While the rest of the colors are for the emotional reason and for some reason they think black ink is too old fashioned. Would you like the PENCORDER’s battery to be rechargeable? TABLE 1. 10 CHOICES |RESPONDENTS | |YES |247 | |NO |3 | |TOTAL |250 | FIGURE 1. 10 [pic] Table 1. 10 and Figure 1. 10 illustrate the number of respondents who prefer to have the PenCorder’s battery rechargeable. Out of 250 respondents, 247 or 99% agree to have the a rechargeable battery for the PenCorder. Consumers find it efficient and economical to have a rechargeable battery since they won’t have to buy a new one in case the battery runs out. However, a total number of 3 out of 250 respondents opted not to have a rechargeable battery for the reason that in case the battery is about to run out for an incoming presentation or discussion, they will just have to buy a new one from a nearby store and can go on recording the discussions without any sign of worry that the battery might run out. It will also save them from the hassle of using electrical cords, plugging in, and waiting for the battery to be fully charged again. How long would you like its battery to last? TABLE 1. 11 CHOICES |RESPONDENTS |PERCENTAGE | |8HRS |224 |90% | |4HRS |25 |10% | |2HRS |1 |0% | |TOTAL |250 |100% | FIGURE 1. 11 [pic] Table 1. 11 and Figure 1. 11 show the respondents preference to the number of hours on the PenCorder’s battery life. A percentage of 90% or 224 out of 250 respondents prefer to have the battery of the PenCorder last for 8 hours. For our respondents, it would be very convenient for them to have the battery to last for 8 hours since they stay in school for almost 8 hours as well. It would be greatly beneficial to their class lectures and discussions. Yet, a percentage of 10% or 10 respondents prefer only 4 hours for the life span of the PenCorder for the reason that as college students, they spend only a few hours in class in a day. The least number of percentage with 1 respondent answered 2 hours for the PenCorder’s battery life since the PenCorder might only serve as a backup and not really to record discussions. Where do you want to purchase the PENCORDER? TABLE 1. 12 | |RESPONDENTS |PERCENTAGE | |MALLS 48 |26% | |ANYWHERE |45 |24% | |NATIONAL BOOKSTORE |45 |24% | |BOOKSTORES |19 |10% | |DPEARTMENT STORES |14 |7% | |CONVENIENCE STORES |3 |2% | |SCHOOL |3 |2% | |SM/AYALA/UNITOP |3 |2% | |APPLIANCE & ELECTRONICS |3 |2% | |CEBU |2 |1% | |MANUFACTURER |2 |1% | |TOTAL |187 |100% | FIGURE 1. 12 [pic] Table 1. 12 and Figure 1. 12 show the choice of respondents regarding on where they would like to buy the PenCorder. The researchers gave the respondents the liberty to state their ideal place to purchase the PenCorder. The data gathered reflects that 26% or 48 out of 250 respondents prefer to purchase the PenCorder in malls. The respondents who are students find it easier to go to the mall since in malls they can purchase almost everything that they need in school. A percentage of 24% or 45 respondents answered that they would like to buy the PenCorder anywhere. The researchers assumed that these respondents prefer to buy the PenCorder not only in malls but also in any small or large stores that sells school supplies or gadgets. A very famous bookstore in the country is the National Bookstore which was the answer of 24% or 45 respondents for their preferred place to purchase the PenCorder. A number of 19 respondents answered bookstores and 14 respondents answered in department stores. The remaining 16 out of 250 respondents answered the following for their preferred place to purchase the PenCorder: 3 respondents in school, 3 in SM/AYALA/UNITOP, 3 in Appliance & Electronics stores, 2 in Cebu and the remaining 2 are in manufacturers since it would be cheaper to buy there. How much are you willing to pay for the PenCorder? TABLE 1. 13 CHOICES |RESPONDENTS |PERCENTAGE | |P500 – P1000 |208 |83% | |P1001 – P1500 |27 |9% | |P1501 – P2000 |9 |4% | |P2000 and above |6 |2% | |TOTAL |250 |100% | FIGURE 1. 13 [pic] The results of table 1. 13 shows that 83% or 208 out of 250 respondents prefer to purchase the PenCorder at a price range of P500-P1000. Usually, consumers prefer to buy products at the lowest possible price in the market. However, there are still 9% or 27 out of 250 respondents who are still willing to purchase the PenCorder at a price range of P1001-P1500 for better quality. Four percent or 9 out of 250 respondents are willing to pay a higher amout for the PenCorder at a price range of P1501-P 2000. And lastly, 2% or 6 out of 250 respondents are willing to pay the PenCorder at a high price of P2000-above for the best quality with the best features. CHAPTER 4 FINDINGS, CONCLUSION AND RECOMMENDATION Findings The researchers conducted this study to know the feasibility of the Pencorder. The study was conducted in Cebu Normal University (CNU). The respondents who answered our survey is composed of nursing students from first year to the forth year level. Based on the data gathered through our survey the findings are: 1. 98% of our respondents would prefer to have a PenCorder that can be useful to record audio presentation, discussions, lectures, conference and the like. 2. Most of the respondents want their pens to be customizable and refillable. 3. In buying a pen, the quality of the product is what buyers consider most. 4. They want their PenCorders to have a large memory capacity in order to store more data. 5. 82% of the respondents prefer to use pens with black ink and also black ink refill. 6. Buyers want their PenCorder’s battery to last for eight hours and for it to be rechargeable. 7. The data gathered reflects that 26% or 48 out of 250 respondents prefer to purchase the PenCorder in malls because it is more convenient. Conclusion The researchers concluded that the Pencorder is feasible and because we conducted this survey in a university, it is but understandable that the buyers’ purpose for purchasing one is for school. Possible buyers like to have customizable pens and they also want their pens’ ink to be in black and to be refillable. Although people consider many factors in buying a pen most of the respondents consider the quality of the pen before usefulness, affordability and style. Potential buyers want to have Pencorders to have 32 GB storage capacity to be able to store more data and they also want their Pencorders to come with earphones and built-in speakers. For the Pencorder is battery-operated, the prospective buyers want rechargeable batteries that lasts for eight hours. Buyers are willing to purchase the Pencorder at a price of 500-1000Php and from the leading malls. RECOMMENDATION Through our analysis, we concluded that the PenCorder will be feasible in the market and we suggest further studies should be conducted. Further studies should be conducted on the Technical and Financial aspect so we can make this product more feasible. The following aspects will be under the Technical Aspect: - Manual for the functions of the Product - How the product will be manufactured - What technology to use in the manufacturing process - Will quantum physics be involved - Cost of labor if manufactured by hand - Cost of labor if manufactured by Computer based machines The Technical aspect would provide us with a positive feasibility and we will know how this product will be manufactured and every other detail to make this product comprehensible to the users. The aspects such as: the cost from the beginning of the survey until the end of the manufacturing process; the products SRP; where to get starting Capital; who will be the financer; who will be the official manufacturer; will be under the Financial Aspect. The financial aspect of this part of the feasibility study would provide the users on how much would the product be, whether they can afford it or not. Who they think will be the best manufacturer. Also, this will enable the researchers to know if the product will have a high risk or low risks in returns. BIBLIOGRAPHY Books Edralin, Divina M. (2002) Business Research: Concepts and Applications 2nd Ed. Manila Philippines: De La Salle University Press, Inc. Albert Marckwardt, Frederic G. Cassidy, James McMillan (1997) Webster Comprehensive Dictionary, International Edition J. G. Ferguson Publishing Company Electronic Sources Digital Recorders: Advances in Technology Retrieved December 3, 2009 from http://www. recorders. com/info/articles/16/1/Digital-Recorders-Advances-in-Technology/Page1. html Spy Pen Digital Video Recorder Retreived December 3, 2009 from http://www. eyespypro. com/products/Spy-Pen-Digital-Video-Recorder. html Research Papel Retrieved February 1, 2010 from http://www. scribd. com/doc/6752830/Research-Papel Sampling Retrieved February 1, 2010 from http://www. scribd. com/doc/7119782/Sampling Simple Random Samply Retrieved January 20, 2010 from http://en. wikipedia. org/wiki/Simple_random_sample Cebu Normal University Retrieved January 20, 2010 from http://www. panoramio. com/photo/4321690 Original USB PenCorder Pen Video Camera Retrieved January 20, 2010 from http://www. proofpronto. com/cost-of-living. html? gclid=CInkxPuGw5UCFQ4RnQods195Qw Digital Pen Voice Recorders Retrieved January 20, 2010 from http://www. spygadgets. com/digital-recorder-pen. htm Permission Letter [pic] Questionnaire UNIVERSTIY OF SAN CARLOS COLLEGE OF COMMERCE BA 109N PENCORDER The Respondents; Greetings! We would like to ask your cooperation by answering the questionnaire regarding our product, the PENCORDER. The pencorder is a ball pen, a storage device, and a voice-recorder all in one. Instructions:Please check the items/answer which will fit to the questions. If ever you have some difficulties on the questions, please feel free to ask the distributor of the questionnaires. Thank you, The researchers Name: Course/Profession: Year Level: School/Address: 1. If there is a PENCORDER that can records presentations, discussions, lectures and meetings, would you like to have one? __Yes__ No 2. Would you like to customize your pen? __Yes__No 3. Would you like it to be refillable? __ Yes__No 4. What are the major factors you consider in buying a pen? Choose two. __ Style__ Usefulness__ Quality__ Affordability 5. What is your purpose for having one? __ for school purpose__for business/meeting__gift__for job 6. How many gigabyte (GB) would you like to have on your PENCORDER? _ 2GB__8GB__16GB__32GB__Others (Pls. specify) 7. Do you like the PENCORDER to come with: __ earphones__Built-in speakers__ or both? 8. What color pen do you prefer to use? __ Black__ Blue__ Red 9. Which colors would you prefer for the refill? __ Black__ Pink__ Red__ Violet __ Green __Blue__Others (Pls. Specify)_____ 10. Would you like the PENCORDER’s battery to be rechargeable? __ Yes__ No 11. How long would you like its battery to last? __ 2hrs__ 4hrs __8hrs 12. Where do you want to purchase the Pencorder? __ Gadgets store__From students__ School__Bazaars 13. How much are you willing to buy the PENCORDER? __500-1,000 __1,001-1,500 ___1,501-2,000 __2,000 above
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