Name of Learner: ___________________________________________ Grade Level: ___________

Section:_____________________ Date: ___________________

LEARNING ACTIVITY SHEET: Quarter 1_Week 4

Determine the Possible Product/s or Service/s that will Meet the Need

Background Information for Learners

In this lesson, you will be able to determine the possible product/s or services that will meet the need.
As you start this lesson, I want you to set aside other task/s that may disturb you while enjoying the lessons.
Read and understand the discussion below and answer the activities. Follow carefully all the contents and
instructions indicated in every page of the module. In order to deepen your understanding regarding the
subject matter, I advise you to have a dictionary, books or if you have internet access with you. Further, you
can ask help from your teacher.
Put notes or highlight important discussions. Write in your notebook the concepts about the lessons. Writing
enhances learning, which is important to develop and keep in mind. Perform all the provided activities in the
module.
Enjoy and have fun!

Concepts about Product and Service

A product is any item, goods, services, or ideas such as intellectual property that you sell to serve a
customer’s need or want. A product can be physical or virtual. Physical products include durable goods (such
as cars, furniture, and computers) and nondurable goods (such as food and beverages). Virtual products are
offerings of services or experiences (such as education and software). Moreover, product can also be tangible
or intangible, perishable and non-perishable.

➢ Goods are a physical product capable of being delivered to a purchaser and involve the transfer of
ownership from seller to customer.
➢ Ideas (intellectual property) are any creation of the intellect that has a commercial value, but is sold
or Ideas traded only as an idea and not as resulting service or good. This includes copyrighted
property such as literary or artistic works.
➢ Services are special form of product which consists of activities, benefits or satisfactions offered for
sale that are intangible and do not result in the ownership of anything.
A service can thus include banking, airline travel, communication services, hotel services and so on
(Claessens, M., 2015).
 A product is a tangible item that is put on the market for acquisition, attention, or consumption, while
a service is an intangible item, which arises from the output of one or more individuals.
(https://corporatefinanceinstitute.com)

Product Classification: Tangible or Intangible

A tangible product is a physical object that can be directly experience- seen, touched, smelled, tasted,
as well as tested. An intangible product is a product that can only be perceived indirectly such as
insurance policy.

The Difference of Product and Service

Products
▪ It is tangible.
▪ Quality standards can be attained
▪ It may be an asset sometimes,. e.g.,
fridge, television set, etc.
▪ Physical possession is possible.
▪ It can be transported.
▪ It can be stored.
▪ The producer and the seller may be
different persons.
▪ Assembling is very important. Skill of the
seller alone cannot determine sale.
▪ Production and distribution need not take
place simultaneously.
▪ Packing plays a crucial role in the
marketing of any product. Both Brand
name and Trade name are important in the
marketing of any product.
▪ Labelling is an integral part of marketing. It
is required as per law.
Services
▪ It is intangible.
▪ It is very difficult to attain quality standards.
▪ It involves expenditure without any
tangible return benefit.
▪ Physical possession is not possible.
▪ It cannot be stored.
▪ It cannot be transported.
▪ The producer of service is the seller too,
e.g., medical and legal services.
▪ Assembling has no relevance at all.
▪ Skill of the service provider is the deciding
factor in most cases, e.g., legal, catering
and medical services.
▪ Production and distribution of service will
have to be done simultaneously, e.g.,
provision of electricity.
▪ It has no relevance in the marketing of
service.
▪ Brand mark and Trade name are important
in the marketing of services.
▪ It has no relevance.

Knowing your Customer’s Needs

Knowing and understanding customer needs is at the center of every successful business, whether it sells
directly to individuals or other businesses. Once you have this knowledge, you can use it to persuade potential
and existing customers that buying from you is in their best interests.
A need is a consumer ‘s desire for a product ‘s or service ‘s specific benefit, whether that be functional
or emotional. A want is the desire for products or services that are not necessary, but which consumers
wish for.
Why do your customers need you?
Every business needs a reason for their customers to buy from them and not their competitors. This is called
a Unique Sales Proposition (USP). Your USP can be identified by completing the phrase "Customers will
buy from me because my business is the only..."

Further, a unique selling proposition, is the one thing that makes your business better than the competition.
It’s a specific benefit that makes your business stand out when compared to other businesses in your market.

.
It's a good idea to review your USPs regularly. Can you tailor your products or services to better match your
customers' needs? Consider asking your customers why they buy from you. This will tell you what they think
your USP is - this may differ from what you think your USP is.

It's also useful to check constantly what your competition is doing. Remember - if your competitors are doing
the same, your USP isn't unique any more.

Why “Identifying Customer Needs” Matters (https://simplifytraining.com/)

1. Correctly identifying customers’ needs is essential for ensuring customer satisfaction and loyalty.
2. Customers have unique needs.
3. Often, customers either aren’t clear about what they need or they don’t really know what they want.
4. Identifying clients’ needs creates satisfied customers, and satisfied customers are less likely to have
reason to enter into disputes with the organization or contemplate legal action.
Key Points (https://simplifytraining.com/)
1. To ensure customer satisfaction, entrepreneurs must correctly identify customers’ needs.
2. To identify needs, entrepreneurs must both listen and ask the right questions.
3. After identifying needs, always check for additional or related needs.
4. As an entrepreneur, use your knowledge and experience to identify and present the right products,
services, and solutions to meet your customers’ needs.
How to Meet the Needs of Customers (https://www.conductor.com/)
1. Identify what the customers need through keyword research, focus groups, or social listening.
2. Distribute the information to relevant stakeholders in the organization.
3. Craft product features or create content that speaks to the customer’s needs.
4. Collect customer feedback in order to meet their expectations.

You are almost done in this lesson. I hope you are enjoying!

Learning Competency:
1. Determine the possible product/s or service/s that will meet the need.
CS_EP11/12ENTREP-Oa-4

Directions/Instructions:
Read and follow carefully the given instructions given in each activity

Activity 1: You can refer/base your answer from Activity 2

As would-be Entrepreneur, you are tasked to identify at least 3 products or services which can be
related to your dreamed business. Focus on how you will meet the needs of your target market especially in
this time of COVID – 19 Pandemic. In each product or service give at least 3 reasons why you are proposing
these products or services. Write this on a separate sheet of paper to be submitted during the retrieval of
modules or u can send a picture of your output through my messenger.
Products/Services Reason Of Choosing The Product/Service
1.
2.
3.
Activity 2. You can refer/base your answer from Activity 1
To learn more about what community or customers’ needs are, product need assessment survey is
important. The results of the survey then guide future action. Generally, the needs that are rated most
important are the ones that get addressed. As would-be entrepreneur, make 10 items customer product
survey questionnaire. Focus on the following guidelines: Write this on a separate sheet of paper to be
submitted during the retrieval of modules or u can send a picture of your output through my messenger.
1. Give a brief description about the product.
2. Give directions as to how the customers will answer the questionnaire.
3. The statement should be in a question form.
4. Use a 4 point likert scale, 4 as the highest and 1 as the lowest e.g. 4 – very positive, 3 – somewhat
positive, 2 somewhat negative, 1 very negative. You may use other rating scale.
5. The questions should focus on:
a. Reaction about the product/service
b. Characteristics/features of the product/service
c. Product innovation
d. If the product/service will meet the customer’s need
e. The value of the product/service
f. If the customer will buy the product once it is available in the market
g. If they will recommend the product to their friends
h. If they will replace their existing product once your product is available in the market
i. The features/characteristics they like about the product
j. Suggestions to improve the product/service

Activity 3. MAKE MEANING- INTERNET ASSSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use the internet or use
dictionary to help you define the given word/phrase. Write your answer in the space provided or at the back
portion of this page.
1. Consumption ________________________________________________________________
2. Acquisition___________________________________________________________________
3. Customer loyalty ______________________________________________________________
4. Customer satisfaction___________________________________________________________
5. Customer service______________________________________________________________
6. Customer feedback ____________________________________________________________
7. Stakeholders__________________________________________________________________
8. Expenditures _________________________________________________________________
9.Innovation _____________________________________________________________________
10.Invention ___________________________________________________________________

Reflection:

To succeed as an entrepreneur, you must develop the ability to select and offer the right products or services
to your customers in a competitive market. More than any other factor, your ability to make this choice will
determine your success or failure (Tracy, B., 2015). There are thousands of products and services available
to consumers today. And there are unlimited opportunities for you to enter the marketplace and compete
effectively with a new product or service that's better in some way than what's already being offered by your
competitors. Remember, your skill at choosing that product or service is critical to your success (Tracy, B.,
2015).
Once you've got a product or service in mind, you need to begin with a selfanalysis (Tracy, B., 2015):
▪ What kinds of products do you like, enjoy, consume and benefit from?
▪ Do you like the product or service you're planning to sell?
 ▪ Can you see yourself getting excited about this product or service?
▪ Would you buy it and use it yourself?
▪ Would you sell it to your mother, your best friend, your next-door neighbor?

You have understood your lesson and answered the activities successfully.
Now, you can proceed to our next lesson. God bless!

References

1. Claessens, M. (2015). Definition of product and service. Retrieved from: https://marketing-

insider.eu/definition-of-product/
2. Identifying Customer Needs. Retrieved from: https://simplifytraining.com/course/identifying-customer-
needs/
3. Definition of product and service. Retrieved from https://courses.lumenlearning.com/boundless-
marketing/chapter/what-is-a -product/
4. Unique Selling Proposition. Retrieved from https://www.shopify.com.ph/blog/unique-selling-
proposition