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Reviewer On Entrepreneurship For 2ND Quarter 2
Reviewer On Entrepreneurship For 2ND Quarter 2
Reviewer On Entrepreneurship For 2ND Quarter 2
MARKET - refers to the group of consumers or organizations that is interested in the product, has the
resources to purchase the product, and is permitted by law and other regulations to acquire the product.
GEOGRAPHIC SEGMENTATION - is dividing an overall market into homogeneous groups on the basis of
their locations.
DEMOGRAPHIC SEGMENTATION – is a way of segmenting your market which involves dividing consumer
groups according to characteristics such as sex, age, income, occupation, education, household size, and
stage in the family life cycle
SEGMENTING BY AGE - is identifying market segments on the basis of age, tweens, teens, baby boomers or
millennials
SEGMENTING BY GENDER - is dividing the market based on gender, or even based on sexual preference
such as pink market which caters the members of LGBT community.
DIFFERENTIATED MARKETING - when a firm produces numerous products and promotes them with a
different marketing mix
FOCUS GROUP DISCUSSION - is a small group which consists of 7-10 individuals led by a moderator. It is
used to determine opinions or suggestions on a designated topic. It is the process of gathering people with
similar interest, background and experiences to discuss on special topic of interest.
IMPORTING - It is to bring something such as merchandise into a place or country from another country.
BACKWARD LINKAGES - refers to what other products have contributed to make or produce one particular
product.
BUSINESS IDEAS - can be generated through looking at the things that you already have and love to do. Like
for instance, your hobbies, talents, skills and interest.
SALES – EXPENSES = PROFIT - is the basic mathematical equation for profitability screening
UNIQUE SELLING AND VALUE PROPOSITION - sets you apart from other product or service provider.
DIRECT WORKERS - are those primary jobs and functions are directly related to the production and operation
of the business.
INDIRECT WORKERS - are those primary jobs and functions are not directly related to the production and
operation of the business.
MANPOWER - talks about human labor force involved in the manufacture of the product.
Machine - discusses about manufacturing equipment used in the production of goods or delivery of service.
FACE TO FACE INTERVIEW - this is the most widely use technique because it allows you to get complete
attention from your respondents.
MARKET STRUCTURE - is best defined as the organizational and other characteristics of a market.
MARKET SYSTEM - is the network of buyers, sellers and other actors that come together to trade in a given
product or service.
DIRECT COMPETITORS - is a type of competitor that offers the same thing and target the same customer
group.
INDIRECT COMPETITORS - are competitors that sell slightly different types that target the same customer
group and satisfy the same needs.
BUSINESS MODEL - refers to a company’s plan for making a profit and identifies the products or services the
business plans to sell, its identified target market and any anticipated expenses
TWO TYPES OF MATERIALS:
• Direct Materials
• Indirect Materials