2.
Demonstrate skills in maintaining business on a long
ENTREPRENEURSHIP
Week 2 INTRODUCTION
- A unique individual who has the innate ability and
extraordinary dedication to establish and manage a
business, acknowledging all the risks, and reaping its
rewards.
- Originated from the French word;
Entre- between
Prendre- to take
Who are the entrepreneurs?
Technopreneur - who puts technology at the core of his
or her business.
Social Entrepreneur - one who recognizes social
problems and turns them into profitable institutions with
the intention of helping the community.
Intrapreneur - an entrepreneur in a large company who
is tasked to think, establish, and run a new project.
Extrapreneur - an entrepreneur who hops from one
company to another to act as the innovation champion,
providing creative and efficient solutions.
What is Entrepreneurship?
- Is the art of observing correct practices in
managing and operating a self-owned, wealth-
creating business
Relevance of the Course
Benefits to Senior High School Students:
1. Classify individual entrepreneurial interests.
2. Apply basic marketing acumen.
3. Determine legitimate sources of resources.
4. Analyze ownership structures.
5. Convert threats into opportunities.
6. Adaptation of concepts and strategies for idea
generation.
7. Evaluate feasibility of ideas.
8. Discovery of entrepreneurial innovators who also have
the
competence and edge to start their own businesses.
Usefulness of the Course to the Students:
1. Develops skills in starting up a business.
term basis.
3. Enhances knowledge of business operations and
expansion.
4. Finds the next level of training or access to other
resources and services.
5. Demonstrates business management.
6. Uses components of a business plan.
7. Consider becoming an employer rather than an
employee.
8. Changes attitude toward entrepreneurship as a means
of making a living.
9. Changes in personal and career attitudes including:
Communication
Self-actualizationProblem solving
Self-management/personality
Collaboration/networking
Ability to manage one's own life
Self concept and awareness
Entrepreneurship makes the following contributions to
the local
community:
a. provides employment in the community
b. creates new demand in the market
c. make substantial contribution to the raising and
collection of taxes
d. facilitates the movement of the factors of
production
e. creates new business opportunities
f. promotes peaceful and loving community
g. increases constructive competition
Entrepreneurship - involves establishing and running
your own business or service. Your
earnings will be the business’s profits.
Week 3 DEVELOPMENT OF BUSINESS PLAN
part 1
THE ENTREPRENEURIAL PROCESS
1.Opportunity spotting and assessment
2.Developing a business plan
3.Determining a capital needed
4.Running a business
Scanning the Marketing Environment
- The starting point of any new venture that involves
understanding and knowing the intricacies of the
macroenvironment, microenvironment, and internal
environment.
3S of Opportunity Spotting and Assessment:
S1; Seeking the Opportunity
- the first step and is the most difficult
process of all due to the number of
options that the entrepreneur will have
to choose from.
S2; Screening the Opportunity
- The process of cautiously selecting the
best opportunity
S3- Seizing the Opportunity
- This is the “pushing through” with the
chosen opportunity.
SEEKING OPPORTUNITY:
MACRO ENVIRONMENTAL FORCES
* STEEPLED
1. Socio-cultural factors - These factors
represent a general view of a locality’s
traditions, customs, beliefs, norms, and
perceptions.
2. Technological factors - These are
composed of innovations of an existing
technology.
3. Economic factors - These factors play a
vital role in the scanning of the marketing
environment because economic factors directly
affect any business venture.
4. Environmental or ecological factors -
These factors should be given much
importance in
conducting a business especially when the
world has already
suffered severely from human-induced
calamities.
5. Political factors - These factors are mostly
induced by government policies
and administrations.
6. Legal factors - Related with political factors,
legal factors are government
laws and regulations.
7. Ethical factors - These are the factors that
will serve as an entrepreneur’s
guide on how to be ethical in running the
business.
8. Demographic factors - These are the
characteristics of the people in the
target market
* INDUSTRY
* NEW DISCOVERY OR KNOWLEDGE
* FUTURISTIC OPPORTUNITIES
SEEKING OPPORTUNITY: MICRO
ENVIRONMENTAL FORCES
a.Consumer preferences, interests, and
perception.
b. Competitors
c. Unexpected opportunities from customers.
d.Talents, hobbies, skills, and expertise.
e.Irritants in the marketplace such as
deterrents, problems, complaints, and delays.
f.Location.
SCREENING THE OPPORTUNITY:
BUSINESS OPPORTUNITY ELEMENTS
1.Has superior value to customers.
2. Solves a compelling problem, issue, a need,
or a want.
3.Is a potential cash cow.
4. Matches with the entrepreneur’s skills,
resources, and risk appetite.
3 Types of Innovations
(according to the Degree of Distinctiveness)
1. Breakthrough innovation - These
innovations, which may also include inventions,
occur infrequently as these establish the
platform on which future innovations in an area
are developed
2. Technological innovation - These
innovations are technological advancements of
an existing product or service.
3. Ordinary innovation - They are commonly
originating from market analysis and
technology pull instead of a technology push.
WEEK 4 - Development of Business Plan
Part 2
KEY CONCEPTS OF UNDERSTANDING
CUSTOMERS NEED:
Needs⮚ The things that you must have
in order to survive.
Wants ⮚The things that you must have in order ⮚repair and maintenance services rendered by the
to be satisfied. seller
Demand⮚ Requests for specific products C . N O N - GOODS SERVICES
that the buyer is willing and able to pay for ⮚personal service on the part of the seller.
over a specific period.
entrepreneurs should look deeper into
VALUE the following:
⮚A value refers to the value customers place
on a product or service. Viability ⮚ It is defined as the ability to survive
or persist.
SATISFACTION Profitability ⮚ It is a business‘ ability to gain
⮚Is the measure of how well customer profit from its business activities and
expectations from a purchased product or investment.
service has been met.
KEY FACTORS TO ANALYZE
Levels of Product PROFITABILITY
GENERIC PRODUCT 1. DETERMINE THE COST OF PRODUCTION
⮚It emphasizes the impact of the product to the It is essential to involved the costs of getting
consumer. The purpose of which product was the product into the custody of the customer
created. 2. TEST THE MARKET
TANGIBLE PRODUCT Determine the customers that are willing to pay
⮚are the basic physical appearance having for the price of the product.
precise specifications and are offered under 3. FIND THE SAFE SPOT
given description. Determine a stable and sufficient demand in
AUGMENTED PRODUCT the market.
⮚includes the image and service features of a
certain entity. PROFIT
⮚Is what is left of the business revenue,
income or sales after it pays all expenses.
Formula: Profit = revenue or sales - expenses
Types of Products BREAK-EVEN
1 .G O O D S - sale of physical product from Happens when there is no profit nor loss after
the manufacturer to the consumer. deducting expenses from revenue.
A.DURABLEGOODS
products that are used over a long period of Formula:
time. Break-even = Expenses
B.NON-DURABLEGOODS
products that are quickly and easily consumed RETURN ON INVESTMENT (ROI)
or worn-out. ⮚is a performance measure used to evaluate the
efficiency of an investment or compare the
2 . SERVICE⮚ intangible products that efficiency of a number of different investments.
satisfaction can be measured in future Formula:
preferences. ROI = Net Income or Profit
A . R E N T E D - GOODS SERVICES Cost of Investment or Capital
⮚consumer rented facility of the seller in a certain
period of time.
B . O W N E D - GOODS SERVICES PAYBACK PERIOD(PBP)
⮚refers to the allotted time, usually the number of • Needs/opportunity
years that an investment is recovered. Simply put, • Name of the product
the payback period is the length of time an • Name of the enterprise/company
investment reaches a break-even point.
Formula: UNIQUE SELLING PROPOSITION
⮚ refers to how you sell your product or services to
PBP = Total Investment or capital your customer. You will address the wants and
profit desires of your customers.

TARGET MARKET
WEEK 5 - Development of Business Plan ⮚ Market Targeting is a sage in market
Part 3 identification process that aims to determine the
buyers with common needs and characteristics.
PRODUCT LIFE CYCLE
⮚The product Life Cycle concept describes a MARKET SEGMENTATION
product’s sales, profits, customers, ⮚Is the process of grouping similar or homogenous
competitors, and marketing emphasis from its customers according to demographic,
beginning until it is removed from the market psychographic, geographic, and
behavior
STAGES OF PRODUCT LIFE CYCLE
✨Product Development DEMOGRAPHIC SEGMENTATION
⮚a new product is modified, created and innovated Divided based consumers Variables to
from an existing product consider:
✨Introduction a. Gender
⮚Product is introduced into the market b. Age
place to generate customer interest. c. Income
✨Growth d. Occupation
⮚The product gains wider consumer e. Education
acceptance and the objective are to f. Religion
expand distribution and the range of g. Ethnic group
available product alternatives. h. Family size
✨Maturity
⮚ The product’s sales level and companies try to GEOGRAPHIC SEGMENTATION
maintain lower price, better product features for as The total market is divided according to
long as possible. geographical location.
✨Decline Variables to consider:
⮚The product’s sales fall as substitutes and new a. Climate
competitors enter the market. b. Dominant ethnic group
c. Culture
VALUE PROPOSITION d. Density (either rural or urban)
⮚ Value Proposition (VP) is a business or
marketing statement that summarizes why a PSYCHOGRAPHIC SEGMENTATION
consumer should buy a company's product or use its Divided in terms of what customers think and
service. believe.
⮚ In creating Value Proposition, entrepreneurs will Variables to consider:
consider the basic elements: a. Needs and wants
• Target Customer b. Attitudes
c. Social class that are utilized in the production.
d. Personality traits -Direct Materials
e. Knowledge and awareness -Direct Labor
f. Brand concept -Direct Overhead
g. Lifestyle Fixed costs
are expenses which firms cannot do away
BEHAVIORAL SEGMENTATION regardless of production volume.
Divided according to customers behavior -Office Rental
pattern as they interact with a company. -Legal/Insurance/licensing fees
Variables to consider: -Professional Fees
a. Perceptions -Salaries
b. Knowledge -Advertising and Marketing
c. Reaction
d. Benefits Direct Materials
e. Loyalty These materials are used to manufacture a
f. Responses product. Those expenses that are attributed to
producing the product.
WEEK 6 - Marketing mix / The market Direct Labor
These would include the wages of all workers
MARKETING MIX directly for making the product.
- Is the foundation concept in marketing. Direct Overhead
- It is defined as the set of marketing tools that These are the costs incurred during the
the firm uses to pursue its production process, regardless of the output
marketing objectives in the target market. that the company produces.
Fixed Costs
These are the expenses incurred by the
organization that are not related to the product.
7PS OF MARKETING MIX Types of Promotion
* PRODUCT - Anything that can be -Advertising
offered for satisfaction. - Personal Selling
*PRICE - Price is the amount of money - Sales Promotion
consumers pay to buy a product. - Public Relation
Pricing Approaches - Direct Marketing
1. Mark-up pricing
2. Perceived Value Pricing Week-7 Marketing Mix and
3. Competitive Pricing
*PLACE- Refers to the physical location where Branding
a business carries out business of the
distribution channel used to reach markets.
-PROMOTION
-PEOPLE
-PACKAGING
-POSITIONING

Product Cost Component

Variable costs
are direct expenses on materials and labor
  Scents
Marketing Mix Tastes
The remaining three relate more to services:
 Packaging - A company's packaging
catches the attention of new buyers in a
crowded marketplace and reinforces value to
returning customers.
 People - People refers to anyone who
comes in contact with your customer, even
indirectly, so make sure you're recruiting the
best talent at all levels—not just in customer
service and sales force.
 Positioning - It refers to arranging for a
product to occupy a clear, distinctive, and
desirable place relative to competing products
in the minds of target consumers.
* Features-based
- Marketers sells their brands on the basis of
their features.
* Use-based
- Marketers who utilize this position strategy
sell their products or services based on their
uses or the types of circumstances in which
they can be used.
* Head-on competition
- Is used by market challengers, or the number
two brands in the market.

Brand Name
 A brand name is a name (usually a proper
noun) applied by a manufacturer or
organization to a particular product or service.

What are the functions of a branding?

- It identifies the product or service
- It communicates messages.
- It functions as a legal property

Elements of the Brand

 Trade Name
Generic Category
 Logo
Tagline
 Visual Care
Shapes
 Colors
Sounds