REVIEWER ON ENTREPRENEURSHIP FOR 2ND QUARTER

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.

EXPORTING - is an act of sending goods or services to another country for sale.

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.

DEMAND - is created by consumers and Supply is provided by Entrepreneurs.

FRANCHISING - means you buy an almost ready made business.

PROBLEMS - could be a blessings in disguise for Entrepreneurs.

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.

REPLACEMENT COMPETITORS - are competitors that offers substitute products.

Competition - is the rivalry between companies selling similar products and services with a goal of achieving
revenue, profit and market-share growth.

SUBSTITUTE PRODUCTS - is any alternative, replacement or endorsement of goods in the market.

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

FOUR M’S OF OPERATION:

• Manpower
• Method
• Machines
• Materials

PORTER’S FIVE FORCES OF INDUSTRY COMPETITION MODEL:

• Bargaining power of Suppliers
• Threat of New Entry
• Bargaining power of customers
• Rivalry among existing competitors
• Threat of Substitutes

Five Components of Business Model

• Customer
• Value Proposition
• Distribution channel
• Key Resources
• Key activities

Four Business Model types:

• Bricks and clicks
• Direct Slling
• Reselling
• Franchising