Superfood Venture Unlocked: Business Viability Assessment and Strategic Analysis for Consumer Education and Marketing of Tapilan (Vigna umbellata) Microgreens

Oral Presentation. Research Conference on Business and Interdisciplinary Studies (RCBIS) 2024. Park Inn Hotel, Davao City, Philippines. December 07, 2024. (Accepted for presentation)

The World Health Organization estimates that two billion people worldwide suffer from deficiencies in essential vitamins and minerals. Microgreens, as an easy to grow emerging food commodities, are labeled as superfoods due to their high amount of phytochemicals including antioxidants, vitamins, and phenolic compounds. Tapilan (Vigna umbellata), an indigenous crop, was found to have superior nutritional profile that is significantly higher than mung bean sprouts which is more prominent in the country. Despite these, the microgreens sector in the Philippines is still not well-established. Thus, this study aimed to assess the business viability of tapilan microgreens and formulate strategies for a small-scale tapilan microgreens enterprise. Tapilan microgreens also demonstrated a promising business viability in the Philippines, with a positive return on investment on its initial month of operations (11.75%), thereby growing up to 161.52% in the succeeding months. However, macroenvironment scanning revealed that there is a need for consumer education to enhance awareness and to establish a strong market presence. To do this, heightening awareness can be done through hands-on learning experiences in community and school outreach programs. Another approach identified is to create an e-course to be uploaded in social media platforms where people are now in. Once widespread awareness is achieved, the focus in marketing shifts to technology push and product differentiation. Towards the next, this unlocked superfood venture can help achieve Sustainable Development Goals like Zero Hunger, Good Health and Well-Being, and Responsible Consumption and Production by providing dense nutrition, improving health, and promoting sustainable food production.

Keywords: business viability, market exploration, microgreens, strategies, superfood, tapilan