Marketability of Banana Peel Nuggets in Naga City PDF

MARKETABILITY OF BANANA PEEL NUGGETS AS A SUSTAINABLE AND HEALTHY FOOD SOLUTION IN NAGA CITY An Undergraduate Thesis Presented to the Faculty of the College of Business and Management BSBA Marketing Management Program NAGA COLLEGE FOUNDA...

MARKETABILITY OF BANANA PEEL NUGGETS AS A SUSTAINABLE AND HEALTHY FOOD SOLUTION IN NAGA CITY An Undergraduate Thesis Presented to the Faculty of the College of Business and Management BSBA Marketing Management Program NAGA COLLEGE FOUNDATION, INC. City of Naga In Partial Fulfillment of the Requirements for the Degree Bachelor of Science Business Administration major in Marketing Management By Arevalo, Jinky Lancaon, Ivy Rupon, Christine Viňas, Rachelle Catimbang, Moises S. December 2024  Chapter 1 THE PROBLEM This chapter includes the introduction, statement of the problem, assumptions, hypothesis, significance of the study, scope and delimitation, and the definition of terms used. Introduction In recent years, the growing concern over food waste and the demand for healthier eating options have sparked interest in innovative food solutions. One such solution is by utilizing banana peels to make sustainable food products. Banana peel nuggets, made from processed banana peels, represent a unique opportunity to address both food waste and the need for healthy alternatives. These nuggets are not only environmentally friendly but also rich in fiber and nutrients, offering a creative way to reduce waste while promoting a nutritious diet. Additionally, incorporating banana peels into food products can help diversify food sources and reduce reliance on traditional ingredients. This research aims to explore the marketability of banana peel nuggets as a sustainable and healthy food solution in Pacol Naga City. By assessing consumer awareness, acceptance, and potential demand, this study seeks to determine the viability of banana peel nuggets in the local market and contribute to the broader effort of promoting sustainable food practices. Additionally, this research will also investigate the nutritional value and taste profile of banana peel nuggets to ensure they meet consumer expectations. Ultimately, the findings of this study could pave the way for a new eco-friendly food product that benefits both consumers and the environment.  Aligned with the Sustainable Development Goals (SDGs), this research specifically supports Zero Hunger, Good Health and Well-Being, and Responsible Consumption and Production. By creating a nutritious food option from a commonly discarded resource, we contribute to the goal of achieving zero hunger through innovative food solutions. Promoting health and well-being aligns with the focus on providing nutritious alternatives, while addressing responsible consumption and production ensures that we make efficient use of resources, reducing food waste and environmental impact. Statement Of the Problem This study aims to explore the marketability of banana peel nuggets as a sustainable and healthy food option by identifying key challenges and opportunities in consumer acceptance, production, and market expansion. 1. What is the household profile of the respondents in terms of: a. Age, b. Sex, c. location/residence address, d. Number of family mc. location/residence address, e. Number of family members and; f. Income per month? 2. What is the marketability of banana peel nuggets in terms of its: a. taste, b. nutritional value, c. price and; d. appearance? 3. What are the significant differences in the marketability of banana peel nuggets with the different locations/residence addresses of the respondents? 4. What are the strategies that can be implemented to increase the marketability of banana peel nuggets to a broader audience? Assumptions This study focused on the marketability of banana peel nuggets and healthy solution in naga city; 1. What are respondents of banana peel nuggets A. The respondent ages categorized into different groups or ranges. B. The respondent’s sex was categorized as either male or female. C. location/residence address, D. Number of family members and; E. income per month 2.This study will measure the marketability of banana peels in terms of taste, nutritional value, price and appearance. 3. The study will consider how using banana peels helps reduce food waste and supports sustainability. 4. The study will offer recommendations, strategies on how to effectively market and produce banana peel nuggets to increase their marketability. Significance of the Study The result of the study would be relevant and beneficial to the following: Parents and guardians. Parents and Guardians can give their children and themselves delicious and nutritious meat like nuggets.  Students. Students Can Invent more products from the banana peel and make a profit or project, especially students of Business Management. Small Vendors (Banana que). Small vendors can generate additional income by utilizing banana peels as a valuable resource. Environment. The environment can benefit from reduced waste and pollution. Local Community. Residents of Naga City can benefit from access to a nutritious and affordable food product. Food Industry. The food industry can explore new product opportunities and contribute to sustainable food systems. Future Generations. The research can help to ensure a sustainable and healthy food supply for future generations. Future Researchers. The conducted studies will further open doors for future researchers to deepen and expand their understanding of banana peel as a sustainable food processing method, as well as how to use waste in culinary applications. Scope And Delimitation The research aims to investigate the possibility of banana peel nuggets as a usable and sustainable food product. This involves identifying and addressing key challenges related to consumer acceptance, production processes, and market expansion strategies. The research will focus on households residing in Pacol, Naga City. The research concentrated on the households within the Pacol district of Naga City, excluding non-resident individuals. Definition Of Terms In this section, key terms used throughout the thesis are clearly defined to ensure understanding and consistent interpretation. This includes: Consumer Acceptance. According to Merriam-Webster (2023), consumer acceptance refers to the willingness of consumers to buy and use a product or service. In this study, consumer acceptance refers to the degree to which customers are willing to adopt banana peel nuggets based on factors such as taste, health benefits, and environmental impact. Banana Peel Nuggets. As defined by the Oxford English Dictionary (2022), a nugget is “a small piece of a substance, especially one that is considered valuable.” In this study, banana peel nuggets refer to bite-sized food products made from banana peels, intended to provide a nutritious and eco-friendly alternative to traditional snacks. Environmental Impact. The Cambridge Dictionary (2022) defines environmental impact as “the effect that a company or activity has on the environment.” This study focuses on the environmental impact of utilizing banana peels as an ingredient in food products, reducing food waste, and promoting sustainability. Food Waste. According to the United Nations Food and Agriculture Organization (2021), food waste refers to “the decrease in the quantity or quality of food resulting from decisions and actions by retailers, food service providers, and consumers.” In this research, food waste is mitigated by repurposing banana peels, which are typically discarded.  Local Market. As defined by the Business Dictionary (2022), a local market is “a market that operates within a limited geographical area, often serving a local community.” In this study, the local market refers to Naga City, where banana peel nuggets will be introduced and sold. Marketability. The American Marketing Association (2022) defines marketability as “the potential of a product or service to be sold or marketed effectively.” This term in the study relates to the potential success of banana peel nuggets in attracting consumers and achieving profitability in the local market. Product Innovation. According to the Oxford English Dictionary (2023), innovation refers to “the introduction of new ideas, methods, or products.” In this study, product innovation is demonstrated by the creation of banana peel nuggets, turning an often-wasted byproduct into a novel, sustainable food item. Sustainability. Merriam-Webster (2023) defines sustainability as “the ability to be maintained at a certain rate or level without depleting natural resources.” This research views sustainability as the practice of using banana peels to create nutritious food products, reducing waste, and supporting environmental conservation  Chapter 2 REVIEW OF RELATED LITERATURE AND STUDIES This chapter contains the resume of related literature and studies found from different sources, Synthesis of the art, identification of gaps, and an outline of the theoretical and conceptual frameworks used in the study. Sustainability and Waste Reduction Wachirasiri et al. (2009) Points out that the use of banana peels as a meat substitute aligns with sustainable eating practices. In many regions, banana peels are considered agricultural waste, often discarded after the fruit is consumed. By utilizing banana peels in cooking, we can reduce food waste and contribute to more sustainable food systems. Emphasize the potential of banana peels as a high-added value ingredient in functional foods. Implementing sensory evaluation as a critical tool in product development helps to understand consumer preferences and perceptions. This method allows developers to gather feedback on various sensory attributes such as taste, aroma, and texture, which are essential for consumer acceptance (Sidel & Stone, 1993). Engaging consumers in the product development process through taste tests and feedback sessions ensures that the final product aligns with consumer expectations. This approach reduces the risk of product failure by addressing consumer needs directly (Grunert & Harmsen, 1997) Utilizing appropriate statistical methods to analyze sensory evaluation data can provide valid conclusions about product quality and acceptability. This data-driven approach supports informed decision-making in product development (Kerry, Kerry & Ledward, 2002) Conducting multiple phases of testing, including hedonic rating tests and preference tests, allows for continuous improvement of the product based on consumer feedback. This iterative process helps refine the product before it reaches the market (Claassen & Lawless, 1992) Encouraging collaboration between marketing and research & development (R&D) teams can enhance innovation practices. By integrating sensory science with marketing strategies, companies can better understand consumer perceptions and improve product offerings (Lesser, 1983) Performing 'bench-top' analyses to compare new products against existing ones can help identify unique selling points and areas for improvement. This strategy ensures that new products stand out in a competitive market (Meilgaard, Civille & Carr, 1991) Emphasizing the importance of sensory attributes that drive consumer acceptance, such as flavor quality, can guide product development efforts. Understanding these attributes helps in creating products that meet or exceed customer expectations (Meiselman & MacFie, 1996; Lawless & Heymann, 1998) These strategies, derived from the document, highlight the importance of sensory evaluation and consumer engagement in the successful development of innovative products in the food and beverage industry. Marketability Judson et al. (2009) Claims in-depth market research to comprehend 2009 customer trends and preferences. This entails figuring out the target market's interest in sustainable goods and wholesome food. Use focus groups and surveys to learn more about how consumers feel about novel food items like banana peel nuggets. Emphasize the advantages of banana peel nuggets for your health, including their high fiber content and possible antioxidant qualities. 2009 saw a rise in the popularity of health-conscious eating, therefore marketing the product as a wholesome snack will draw in customers who are concerned about their health. Take advantage of 2009's growing consumer consciousness regarding sustainability. Promote banana peel nuggets as a less wasteful and environmentally responsible option. Nutritional and Health Benefits Kurhade et al. (2016) illustrates that banana peels are recognized for their rich nutritional profile, which includes high levels of dietary fiber, vitamins (such as vitamin C), and various bioactive compounds, including phenolics and antioxidants. These components are associated with numerous health benefits, such as improved digestive health, enhanced antioxidant activity, and potential anti-inflammatory effects. Research conducted by Kurhade and others has demonstrated that incorporating banana peel into food products can significantly enhance their nutritional value. For instance, studies have shown that banana peel flour can increase the ash content, crude fiber, and total dietary fiber in baked goods, making them more appealing to health-conscious consumers. Consumer Acceptance Consumer acceptance is a critical factor in the marketability of any food product. Research from 2016 and 2020 indicates that food products made with banana peels, such as bread, chapati, and other baked goods, have received favorable sensory evaluations. Kurhade et al. (2016) reported that incorporating banana peel into chapatti not only enhanced its nutritional profile but also improved its antioxidant activity, leading to greater overall acceptability among consumers. These findings suggest that there is a market for banana peel-based products, particularly among consumers looking for healthier alternatives. The aim of the study was to assess the impact of incorporating banana peel into cake, a bakery product that might contain bananas, and panettone, a product that doesn't contain bananas, on consumers' acceptance and perceived qualities, as well as the effect on the technological properties of the product. The design, methodology, and approach of the study involved producing bakery products with banana peel included in the formulation and control samples that didn't contain any residue. In the blind and informed testing, volunteers checked all the attributes applied to the four samples and assessed their approval. Findings: The acceptance of both cakes, with and without banana peel, was unaffected by consumers being informed that there was a residue in both cakes. The texture, color, approximate composition, and bake qualities were measured. Relative risk suggested that acceptance was unaffected by the information. Innovative Applications The versatility of banana peels in food formulations is another significant factor contributing to their marketability. The review highlights various applications of banana peels in food products, including bakery items, noodles, and even meat substitutes. This adaptability allows manufacturers to cater to a wide range of consumer preferences and dietary needs, including those of vegetarians and health-conscious individuals. The ability to innovate and create new products using banana peels can attract a diverse consumer base and open up new market opportunities. Research from 2017 to 2021 has emphasized the potential for developing novel food products that utilize banana peels, further enhancing their market appeal. Sustainability Trends In recent years, there has been a significant shift in consumer preferences towards sustainable and eco-friendly products. This trend is particularly relevant in the context of food production, where reducing waste and utilizing by-products is becoming increasingly important. The review discusses how banana peels, often considered agricultural waste, can be transformed into valuable food ingredients, thereby contributing to waste reduction and promoting sustainability in the food industry. The alignment of banana peel products with these sustainability trends can enhance their marketability, as consumers are more likely to support products that are environmentally friendly and contribute to a circular economy. This aspect has been highlighted in various studies and reviews, particularly in 2021, which emphasize the importance of sustainability in food production. Synthesis of the Art The researcher presented various related studies regarding the study. To have a clear understanding of these studies, the researchers made a synthesis for the succeeding discussion. According to Rodriguez et al (2002) the health benefits associated with dietary fiber, including improved digestion, weight management, and a lower risk of chronic diseases such as cardiovascular disease and diabetes. Their study reinforces the importance of dietary fiber in a healthy diet and provides evidence for its various health benefits. Emaga et al. (2007) highlight that banana peels are rich in dietary fiber, providing approximately 50 grams of fiber per 100 grams of dry matter. This high fiber content is beneficial for digestive health and can support a balanced plant-based diet. Their research underscores the nutritional advantage of banana peels as a source of dietary fiber, which can complement other foods to enhance overall nutritional intake. Gap Bridged by the Study The study will bridge the gap between the previous research. While the nutritional benefits of banana peels and their potential as sustainable food products have been explored, the marketability of banana peel nuggets in Pacol, Naga City remains unexamined. The study will focus on consumer acceptance, assessing preferences for taste, price, and appearance through local household feedback, which has not been a focus in prior studies. Additionally, the research will explore marketing and production strategies specific to introducing banana peel nuggets in a competitive local market, particularly in the context of sustainability. By highlighting banana peel nuggets as both a health-conscious and eco-friendly alternative, our study aims to fill the gap in understanding how to position these products in a community- driven and environmentally conscious setting. Ultimately, our study provides new insights into the localized marketability and promotion of banana peel- based food products. Theoretical Frameworks The theoretical framework for this study was supported by the theories, which are the innovation diffusion theory, 1962, and the howard-sheth model ,1969. By these theories and models, we can thoroughly analyze the marketability of banana peel nuggets as a sustainable, and healthy food solution. Innovation Diffusion Theory (1962, Everett): This theory explains how new ideas and products spread through a population over time. It identifies different groups of people (innovators, early adopters, early majority, late majority, and laggards) who adopt innovations at different stages. This theory will help us understand how banana peel nuggets, as a new product, might be accepted by people in Pacol Naga City. We’ll use it to explore who is most likely to try the product first and how the idea might spread to others. By identifying these groups, we can develop strategies to promote the product and increase its market acceptance.  Figure 1. Theoretical Paradigm The Howard-Sheth Model (1969, Howard and Sheth): this model explains how the consumers make purchasing decisions by integrating various factors such as input from the environment, personal experiences, and decision-making process. It focuses on how this influences their buying behavior. Figure 2. Theoretical Paradigm Conceptual framework Our conceptual framework illustrates the relationship between consumer demographics and the marketability of banana peel nuggets, guiding the development of targeted marketing strategies. The demographic profile includes factors such as age, gender, family size, and income, which help identify potential consumers and their purchasing behaviors. This leads to the marketability aspect, assessing the appeal of banana peel nuggets based on taste, nutritional value, price, and appearance, thereby evaluating current consumer acceptance. By examining the differences in preferences among demographic groups, we can understand that younger consumers might prioritize taste while health-conscious buyers focus on nutrition. Ultimately, these insights inform strategies to effectively market banana peel nuggets, such as emphasizing health benefits for families or creating engaging packaging for younger audiences. This framework demonstrates how demographic factors influence preferences and helps shape effective marketing approaches for our product. Figure 1. Conceptual Paradigm  Notes Wachirasiri, P., Julakarangka, S., & Wanlapa, S. (2008). The effects of banana peel preparations on the properties of banana peel dietary fiber concentrate. In Songklanakarin J. Sci. Technol. (Vols. 31–6, pp. 605–611). Retrieved from https://thaiscience.info/Journals/Article/SONG/10614970.pdf Singh-Ackbarali, D., & Maharaj, R. (2014). Sensory Evaluation as a Tool in Determining Acceptability of Innovative Products Developed by Undergraduate Students in Food Science and Technology at The University of Trinidad and Tobago. Journal of Curriculum and Teaching, 3(1). Retrieved from https://doi.org/10.5430/jct.v3n1p10 Judson, K. M., Gordon, G. L., Ridnour, R. E., Weilbaker, D. C., Cotter, M. J., Henley, J. A., Barat, S., Spillan, J. E., Palombo, V. J., Jae, H., Knotts, T. L., Jones, S. C., Udell, G. G., Reisenwitz, T. H., Iyer, R., Eastman, J. K., Gim, G., Yoo, G., Lee, C. E.,... Piper, W. S. (2009). Marketing Management Journal. Marketing Management Journal, 19(2). Retrievedfromhttps://www.mmaglobal.org/_files/ugd/3968ca_b770b30763d1 44eda83b45bc4a430940.pdf#page=105 Kraithong, S., & Issara, U. (2021). A strategic review on plant by-product from banana harvesting: A potentially bio-based ingredient for approaching novel food and agro-industry sustainability. Journal of the Saudi Society of Agricultural Sciences, 20(8), 530–543. https://doi.org/10.1016/j.jssas.2021.06.004 Retrieved from https://www.sciencedirect.com/science/article/pii/S1658077X21000758 Maschio, G., Stoll, L., Padilha, R. L., De Moraes, K., Leães, F. L., Thys, R., & Sant’Anna, V. (2023). Consumers’ sensory perception and technological properties of whole foods utilization in bakery products: a case of study of banana peel. https://www.semanticscholar.org/paper/Consumers'-sensory- perception-and-technological-in-Maschio- Stoll/4c1f8e7f7ecbe6d863d528ccb591a5f1a49fe6d7 Retrieved from https://www.semanticscholar.org/paper/Consumers'-sensory-perception-and- technological-in-Maschio-Stoll/4c1f8e7f7ecbe6d863d528ccb591a5f1a49fe6d7 Kraithong, S., & Issara, U. (2021). A strategic review on plant by-product from banana harvesting: A potentially bio-based ingredient for approaching novel food and agro-industry sustainability. Journal of the Saudi Society of Agricultural Sciences, 20(8), 530–543. https://doi.org/10.1016/j.jssas.2021.06.004 Retrieved from https://www.sciencedirect.com/science/article/pii/S1658077X21000758  Chapter 3 METHODS AND PROCEDURES To realize the objectives of the study, appropriate methods and procedures were adopted. Hence, this chapter is a discussion of the method used, population of the study, data-gathering tool, and statistical analysis. Each of these was explained individually. Method Used The study will use a descriptive correlational research method to explore the marketability of banana peel nuggets in Pacol Naga City. This approach is ideal for gaining a broad understanding of consumer preferences and market potential. By collecting data through surveys, the study will gather detailed information on the demographics of respondents, including their age, gender, family size, location, and income. Participants will also provide feedback on key products such as taste, nutritional value, price, and appearance. Using a descriptive method, it allows to identify the household profile of the respondents in terms of their age, sex, location/residence address, number of family members and income per month, the marketability of banana peel nuggets in terms taste, nutritional value, price and appearance the strategies that can be implemented to increase the marketability of banana peel nuggets to a broader audience. While correlational the significant differences in the marketability of banana peel nuggets with the different locations/residence addresses of the respondents. Population Of the Study The population of this study includes households residing in Pacol, Naga City. The sample will be selected to represent different age groups, genders, family sizes, and income levels to ensure diverse perspectives. A total of 50 households will be surveyed. Table 1 Distribution of Respondents according to Age of Parents and Guardian Parents and Guardian Age Frequency Percentage 25 - 30 10 20 31 - 35 10 20 36 - 40 10 20 41 - 45 10 20 46 - 50 10 20 Total 50 100 The data collection instrument employed in the study was a survey questionnaire. It includes applicable, relevant, and direct questions to the respondents. The structured survey questionnaires that are made by the researcher are based upon the concept. The use questionnaire is being prepared by the researcher, then checked and improved by the professor. Upon approval 29 the survey questionnaires were distributed to the random household’s parents and guardians residing in Pacol, Naga City. After distributing all the survey questionnaires to the random respondents, the researcher collects and tally it, then finalizes all the data gathered. Investigation Procedure The realization of this study on the marketability of banana peel nuggets followed several systematic procedures to achieve its objectives. Conceptualization of the Study. The researcher identified the need to explore innovative food solutions due to rising concerns about food waste and health. The potential of banana peel nuggets, made from a commonly discarded resource, motivated this investigation. Preparation and Approval of Research Proposal. After refining the concept, a research proposal was drafted. It was submitted for approval to the Thesis Committee of the school, ensuring alignment with academic standards. Securing Permits to Conduct the Study. Upon proposal approval, the researcher sought permission from local households in Pacol, Naga City, to distribute surveys about banana peel nuggets. Necessary permits were granted to facilitate data collection. Preparation of the Questionnaire. A structured survey questionnaire was developed as the primary data-gathering tool. It underwent validation and a trial run to ensure its relevance and clarity for the target demographic. Gathering of Data. Following validation, the questionnaire was distributed to 50 randomly selected households in Pacol. Each survey included a letter of introduction signed by the researcher, and responses were collected personally to ensure a high response rate. Tabulating and Statistical Treatment of Data Gathered. The collected data were tabulated in accordance with the specific research questions. Appropriate statistical tools were employed to analyze the responses, generating meaningful insights about consumer preferences. Writing the Manuscript. The findings were compiled into a manuscript following the school's standard format. The researcher consulted with the adviser throughout the writing process to enhance clarity and presentation. Submission and Approval of the Study. Once completed, the manuscript was submitted to the Dean and recommended for review by the Panel of Examiners for final evaluation and approval. Statistical Tools This study employed several statistical tools to analyze the data: Frequency and Percentage Technique. Used to present demographic information about respondents and the distribution of responses regarding banana peel nuggets. Weighted Mean. Applied to assess overall consumer preferences for taste, nutritional value, price, and appearance of banana peel nuggets, using a five-point Likert scale. One-Way Analysis of Variance (ANOVA). Utilized to determine significant differences in preferences based on demographic factors such as age, income, and family size. t-test. Conducted to analyze differences in preferences between specific groups of respondents, such as between those who are health-conscious and those who are not. Pearson’s Coefficient of Correlation. Used to examine the relationship between demographic factors and respondents’ preferences for banana peel nuggets, providing insights into market potential