PRODUCT INNOVATION PROPOSAL
Product Profile
Use this form to capture essential planning and control information on a product. You can adapt categories
to fit a service or program offering.
Group No. 1
Name Clarence Jade C. Modelo Date : October 14, 2021
Product Name: Oilive – “the cooking oil that
makes you live”
Current Version of the Product
Minola cooking oil that is made from coconut and is locally sourced and made by the San Pablo
Manufacturing company for more than 50 years now. Minola Premium Coconut Oil is a refined edible
vegetable oil derived from the coconut kernel.
Proposed Product Innovation
Oilive (Flavored Cooking Oil)
My business project is to innovate Coconut Oil to
flavored cooking oil and penetrate in a passive but
constant market in a rapidly- growing economy and
Philippine population. Philippines is prosperous in crops
like chili, onion, garlic and ginger so I thought of
utilizing the crops in the Philippines by including it into
the proposed business plan which is flavored cooking oil.
It is made up of coconut oil which is used in cooking, and
a mixture of different kinds of flavorings like chili, onion,
garlic and ginger. Furthermore, I hope to couple the
benefits of an affordable alternative with convenience by lessening the food preparation time, as basic spices
needed for common dishes are already incorporated into the cooking oil. Filipinos are fond of cooking and
eating with this premise, I came up with the idea of enriching ordinary cooking oil by incorporating some
flavors. Most households spend a lot of time preparing ingredients to be used in cooking. With this, I hope
to make the possibility of an affordable alternative that will help minimize the cost of household cooking,
by incorporating flavors of basic ingredients to the commonly used cooking oil, which is Coconut oil.
Target Market(s) or Segments
The target market of the OILIVE will be mainly the households in Manila and Rizal province, since the
product will be initially available in Manila City and Rizal province. The target market also includes people
who are health conscious and price conscious. The company thought that health-conscious people could be
the target market because the base oil and the flavorings of the product is all natural and has no
preservatives. The product is of 0% cholesterol and 0% of Trans fat. The product is recommended to those
who have a heart disease and for those who are diabetics. The target market also includes those who are in
class A, B and C since it is less expensive.
Key Product Features Key Product Benefits
1. Consisting of about 90% saturated fat. 1. 1. Lessening the preparation time.
2. Long shelf life compared to other oils, lasting 2. Minimizing the cost of ingredients that you will
up to two years due to its resilience to high use for cooking are our objectives to help
temperatures. consumers.
3. Firm texture at cold or room temperatures. 3. A good substitute for sautéing is olive oil,
4. No cholesterol, no fiber, and only traces of canola oil, plain coconut oil, and sunflower oil.
vitamins, minerals, and plant sterols. 4. Produced distinct flavor that makes your food
5. Free from additives and preservatives tastier.
Unique Selling Point
Natural and has no preservatives flavored cooking oil.
Key Competitors Average Selling Price Strategy
1. Minola Cooking Oil ₱ 45 - ₱ 2,100 Minola cooking oil’s objective to
200ml - 14.6 liter further and consistently update its
brand equity, Minola has been
exploring to develop other forms
of cooking oil and food
preparation outside from its
premium coconut cooking oil
products. To date, Minola also has
palm olein and table margarine.
SPMC’s vision and mission are to
uplift the lives of our coconut
farmers and to support the
development of the Philippine
coconut industry. Using Minola
Cooking Oil is not only a healthy
alternative but it is also budget
friendly that won’t put a hole into
your pockets. No wonder, Minola
Lauric Cooking Oil is the brand of
choice for many Filipinos then
and now!
([Link]
2017/03/minola-premium-
[Link])
2. Golden Fiesta Cooking Oil ₱ 56 - ₱ 408 Golden Fiesta Cooking Oil is
485ml - 3.785 liter made from the seeds of canola
flowers, Golden Fiesta Canola Oil
is also rich in Omega 3 and
Omega 6, which are also
beneficial in lowering the risk of
cardiovascular diseases, diabetes,
and some types of cancer when
combined with a healthy diet and
exercise. Compared to other
vegetable oils, canola oil has a
low level of uric acid,
glycosylates, and saturated fatty
acids and bad fats, making it one
of the healthiest and more widely
used oils in the market.
([Link]
7/09/22/golden-fiesta-cholesterol-
reducing-canola-oil/)
3. Sun Valley Cooking Oil ₱ 40 - ₱ 1,576 Sun Valley Cooking Oil is a
540ml - 18.7 liters premium quality oil extracted
from mature coconuts using the
latest modern multi-step
processing technology. It is
among the first cooking oils in the
country to be fortified with
Vitamin A. And since it is made
from 100% pure coconut extracts,
it contains all the health benefits
of coconut oil. Most of all, it is
free from additives, cholesterol
and preservatives and can be
reused up to three times without
significant discoloration or change
in taste. Sun Valley cooking oil
contributes to the taste of food by
controlling and providing a
balance of flavors, making it an
excellent partner of practically
any meal preparation.
([Link]
products/sv-cooking-oil/)
SWOT ANALYSIS
Use a SWOT analysis to identify the strengths, weaknesses, opportunities, or threats relative to a product, product
line, marketing program, or even a whole company. The SWOT analysis lets you focus on specific areas and
discover actions that can help build on strengths, minimize or eliminate weaknesses, maximize opportunities, and
deal with or overcome threats.
Group No. 1
Name: Clarence Jade C. Modelo
Section: BEN 22
Internal Analysis
List items inherent to the item to be analyzed, such as positive results of a marketing program.
Strengths Ideas for building upon these strengths
1. First flavored cooking oil Maintaining the quality of the product
2. Use Health platform Maintaining to be accessible in the market
3. Increasing demand for natural and healthy products Add more flavors for more choices
4. Innovative product Treat clients and customers right
5. Accessible to market
6. Awareness on quality standard
Weaknesses Ideas for minimizing or strengthening these
weaknesses
1. Labor scarcity Continue promoting the product
2. Strong competition with other cooking oils Increase productivity and wages
3. Unstable market price Find more sources to maintain the price
4. Little advertisement of company and products and quality of the product
External Analysis
List items or factors outside of the item to be analyzed, such as external marketplace factors.
Opportunities Ideas for investigating or taking advantage of
these opportunities
1. Health-conscious people increasing Increasing the supply
2. Local and export market Create new additional products
3. Potential for value added products Increase the quality of the product
4. Increasing demand for natural and no preservatives Make the packaging more attractive
food
Threats Ideas for minimizing or overcoming these
threats
1. Highly competitive industry Just continue promoting the product
2. Increasing transaction costs Prove that the product is much healthier
3. Lack of competitiveness in international markets and better than the other
4. Appearance of similar products from other producers Find more resources to maintain the
5. Economic crisis quality and price of the product
Innovate new products
