Learning Activity Sheet

Grade Level/ Subject Grade 11 – Entrepreneurship Quarter 1

Module/Week 3

Topic Selecting the best product or Service Competency 1.2.4

MELC Select the best product or service that Duration 4 hours

will meet the market need

Specific Objectives (When applicable)

At the end of the lesson, the learner will
be able to:

1. determine the target market and

their potential needs/wants; and
2. develop a simple market survey.

I. Let’s Know

After a thorough analyzing and screening on what the market needs, you will be able to
come up with the possible best products and services that you could offer on your target market.
You will be able to develop a business plan that could showcase the goals of your business or
reasons why you think that certain product or service will have an impact to the market.

Upon starting a business, it is important to find out what does a consumer or potential
customers really want and need by conducting a short market survey. With the help of a market
survey, you could understand customers’ needs better and how what innovations can be made.
If it shows you think the said product or service has a chance in the market, an idea is found to
be feasible, this knowledge will in turn give the confidence to go ahead with problems are
encountered, knowing that their product is in demand.

Think in advance what are the possible questions you want to ask your consumers so
that later on you could ask them the same questions every time in which the answers will be
collated, analyzed and compared. Keep it as a short exercise to keep the costs low and in-depth
market research.

Here are some sources on how to come up with a new product/service:

• Listen to your customers. Observe the customer on what they actually need or
want because this might be an idea to come up with a new product or service.
• Analyze the current products and services. You could find some ways to
improvise or innovate the current product or services being offered.
• Study the distribution channel.
 • In pursuit to a government regulations, policies and guidelines the government
could need an extra help in coming up of new services that could address these
things.
• Heuristic Method. Lets you come up with a possible product/service to offer
however on a short period only like during a concert or festival.
• Life style analysis method in which you will observe the consumers’ activities,
interests and opinions in order to understand the continuing change of
preference of a customer.
Some Methods on How to Generate a New Product/Service
• Brainstorming
Brainstorm with your current team. By assessing the sales, issues and even
the suggestion box answered by the customers it could give you an idea on what
the customer really wants or needs. This would help you generate a new product
or service.

• Market Trends
The market trends tend to change from time to time just to satisfy the current
needs and wants of a customer. For example, the trend for smartphone, if you
are an electronic company you could have a survey on what does the potential
consumers are looking for. Providing a survey could help what factor you must
focus on whether it is on the quality or the affordability of the product. Through
this you could have an insight on what the customer wants/needs and use that to
market your products.

• Survey of Market Size and Value

Using the information gathered, it could give us the information on who and
where do they buy a certain product. This could be evaluated by the
entrepreneur to have an insight on what are the qualities and characteristic of a
certain product a consumer is looking for. This involves making assumptions and
it is important to consider:
1. The number of people interviewed. Were they able to represent
all of the potential consumers?
2. Were the data gathered accurate?

• SWOT Analysis
A tool used to analyze and improvise the internal and external factors that
could affect your business. The acronym stands for:
S-Strengths
W-Weaknesses
O-Opportunities
T-Threats
SWOT Analysis:
▪ helps you assess what the customer really needs;
▪ helps you assess which area needs to be improved; and
▪ helps you understand the market and its competitors.
II. Let’s Perform & Practice (Activity)
In order to properly address the underlying customer needs and wants and
improvising the current product/service in the market, I want you to create a simple
survey questionnaire for a new product to be launched by the Minute Burger (at least 5
questions). Using the sample format below:
Questions 5 4 3 2 1

1.
2.

3.

4.

5.

III. Let’s Connect / Let’s Analyze

After filling out the possible questions for your simple survey questionnaire, I want you to
let your family members or online friends to answer the said survey. After doing so, the data
collected will be summarized and interpreted. It will be graded base on the rubric below:
CRITERIA ADVANCED PROFICIENT DEVELOPING EMERGING SCORE
5 4 3 2
Results • Analysis of • • Gives statistics • Lists statistics
and results is Summarizes with minimal with no
Analysis particularly findings and interpretation interpretation or
insightful interprets analysis
results •
Describes
most
important
and
surprising
findings
Conclusion • Gives • Reflects on • Fails to • Conclusion is
possible the acknowledge missing
improvements experience limitations of • Conclusion
to the survey and meaning survey simply restates
process of results •Overgeneralizes previous
• States what • Describes results of the information
actions can shortcomings survey
be taken as a of the survey
result of the method and
findings potential
inaccuracies
Spelling, • Written in • Correct • Minor errors in • No attempt at
Grammar, appropriate MLA Format formatting MLA Format
 and formal tone o • No spelling • Minor errors in •Spelling/grammar
Formatting First person or grammar spelling/grammar mistakes
voice is errors that do not everywhere
accepted in significantly • Tone for paper is
this type of detract from not appropriate
writing overall paper (i.e. too
conversational)
TOTAL
http://mrtrenfield.weebly.com/uploads/5/8/6/1/58616339/survey_report_rubric.pdf

IV. Let’s Answer

Write the letter (in capital letters) of your answer before the number.
1. Which of the following is a method of generating a new product or service?
a. Focus only on the customer.
b. Winning the market competition.
c. Focus on innovation and/or launching new products.
d. Brainstorming with the current staff in order to come up with a new
product.

2. Which of the following best describes a target market?

a. Target market is where you could sell your products.
b. Target market is where you compete for your products/services.
c. Target market is where you address the needs/wants of the customers.
d. Target market is where you aim a group of potential customers you to
sell your products/services.

3. Which source in launching a new product or service lets you come up with a
product or service to offer for a short period of time?
a. Heuristic Method
b. Checklist Method
c. Life Style Analysis
d. Collective Notebook Method

4. Which of the following methods allows you to keep up with the changes in the
preference of the customers?
a. Brainstorming
b. Market Trends
c. Evaluation of Life Style
d. Survey of Market Size

5. What does S stands for in SWOT?

a. Smart
b. Social
c. Strength
d. Systematic
Answers: 1. D 2. D 3. A 4. B 5. D
V. Let’s Explore / Let’s Create
Develop a SWOT Analysis between your proposed business to launch against 2
competitors with the same nature of business using the format below.

Your Proposed Company A Company B

Business
Strengths

Weaknesses

Opportunities

Threats

(Adapted from: Entrepreneurship, by De Guzman, A.)

Rubrics
Criteria Excellent Good Poor Score
10 6 3
IDENTIFICATION Learner goes Not all 4 Learner did not
above and beyond researched, identify any
research of all 4 incomplete sections
sections. Uses analysis,
proper resources questionable
and lists the proper resources.
attributes found.
DISCUSSION Learner answers Questions Learner did not
ALL questions for a answered; discuss a SWOT
SWOT analysis however, learner analysis.
and identifies shows disconnect
proper usage. from the
objectives. Why
and when were
not discussed or
only one was.
ANALYSIS Perfect Learner shared Learner did not
Understanding of their opinion; state their own
the traits of a however, did not opinion or
SWOT analysis incorporate the prepare their
and how to prepare objectives of the own analysis.
one. activity correctly.
PROPER CITATION / Perfect grammar Some Grammar and
GRAMMAR / and spelling. misspellings and spelling were
SPELLING some grammar erroneous.
 mistakes were
observed.
https://blogs.cmich.edu/mattgwizdala/wp-content/uploads/sites/37/2019/02/SWOT-Analysis-
Rubrics.pdf

References:

1. 16 Sources of New Ideas for Entrepreneurs. (n.d.) Retrieved from:

https://www.iedunote.com/new-ideas-sources-for-entrepreneurs Retrieved on: July
10, 2020
2. De Guzman, A. (2018). Entrepreneurship (For Senior High School, Applied Subject, ABM
Strand). Philippines: Lorimar Publishing, Inc.
3. Gallardo, Manahan, Tendero and Viray (2018). Entrepreneurship. Philippines: Anvil
Publishing, Inc.
4. Generating and screening ideas for new products. (n.d.) Retrieved from:
https://www.business.qld.gov.au/running-business/growing-business/becoming-
innovative/developing-products/new-products/ideas Retrieved on: July 10, 2020
5. Stewart, B. (2016). Identify and Meet a Market Need. Retrieved from:
https://slideplayer.com/slide/6168027/ Retrieved on: July 10,2020