RELAY GAME

A ballpen will be passed while playing a

music. When the music stops the person
holding the ballpen will answer the question
pertaining to the past lesson. Anyone who
answered the question incorrect will pick a
consequence
MARKET NEED
ANALYSIS
By: AR-JAY C. ROMERO
Entrep Teacher
Tips in Choosing Business Name
1. EASY TO RECALL OR
REMEMBER- the brand
name must be
understandable so it is easily
stored in the memory
Tips in Choosing Business Name
2. PLEASANT MEANINGS
CREATE PLEASANT
FEELINGS- it produces positive
or favorable feelings upon saying
or mentioning to the public
Tips in Choosing Business Name
3. EASY TO
PRONOUNCE- the
business name must be
cited as freely as it can be
Tips in Choosing Business Name
4. EASY TO SPELL- business
name must be simple. Words
that are used in everyday
communication will be an
advantage
PRODUCT LIFE CYCLE
-describes a product’s sales,
profits, customers,
competitors, and marketing
emphasis from its beginning
until it is removed from the
market
 STAGES OF
PRODUCT LIFE
CYCLE
 I. PRODUCT
DEVELOPMENT
-a new product is a modification,
creation, and innovation of an
existing product which makes it
more meaningful to the
customer.
 I. PRODUCT
DEVELOPMENT
1. Idea generation
2. Idea screening
3. Concept testing
4. Business analysis
5. Product development
 IDEA GENERATION
-searching and looking for
new product or business
opportunities. The employees,
channel members,
competitors, and customers
can be a great source.
 IDEA GENERATION
METHODS:
a. Brainstorming
b. Analyzing existing product
c. Reading trade publications
d. Visiting supplier’s facilities
e. Surveys
 IDEA GENERATION
BRAINSTORMING
-all members of the group
can contribute in sharing
ideas, comments and
sugestions.
 IDEA GENERATION
ANALYZING EXISTING
PRODUCTS
-successful product that captures
great market can be analyzed as
a basis in creating a new product
 IDEA GENERATION
READING TRADE
PUBLICATIONS
-inspirational story of a
successful entrepreneur can lead
into a development of a new
product
 IDEA GENERATION
VISITING SUPPLIER’S
FACILITIES
-Supplier’s raw materials can be
used as a method to innovate
and modify existing products
 IDEA GENERATION
SURVEYS
-getting feedback coming from
the customers and potential
market
 IDEA SCREENING
-ideas which are unsuitable,
unattractive or poor are junked.
-ideas together with its attributes
are rated on the basis of rating
from 1-10.
 IDEA SCREENING
-ideas are rated on the
following categories:
General, marketing, and
production characteristics
 CONCEPT TESTING
-ideas which passed the
screening stage will now
require feedback from
consumers
 CONCEPT TESTING
-measure the consumer’s
enthusiasm by asking potential
consumer to react to a picture,
statement or oral description of
a product
 BUSINESS ANALYSIS
-review of market factors,
revenues, costs and trends
 BUSINESS ANALYSIS
a. Demand projections
b. Cost projections
c. Competition
d. Required investment
e. profitability
 BUSINESS ANALYSIS
DEMAND PROJECTIONS
-sales potential, sales growth,
rate of repurchase, distribution
intensity
 BUSINESS ANALYSIS
COST PROJECTIONS
-per unit cost, raw materials
cost, cost of existing facilities and
resources, break- even point
 BUSINESS ANALYSIS
COMPETITION
-market share of company and
competitors, strengths and
weaknesses of competitors,
potential competitors
 BUSINESS ANALYSIS
REQUIRED INVESTMENT
-engineering, patent search,
product development, testing,
promotion, production,
distribution
 BUSINESS ANALYSIS
PROFITABILITY
-time to recover initial cost, per
unit profits, distribution
intermediaries, control over
price, ROI
 DEVELOPMENT
-ideas are converted into
tangible forms.
 DEVELOPMENT
PRODUCT CONSTRUCTION
-type and quality of materials,
method of production, production
time and cost requirements per unit,
plan capacity, sizes and colors
 DEVELOPMENT
PACKAGING
-materials used in promotion or
storage, cost, sizes, and colors
 DEVELOPMENT
BRANDING
-choice of new or existing name,
exclusivity, trademark, protection
 DEVELOPMENT
PRODUCT POSITIONING
-selecting a market segment
 DEVELOPMENT
CONSUMER ATTITUDE AND
USAGE TESTING
 TEST MARKETING
-involves selling a fully developed
product in a selected city and
observing the actual or on the spot
performance under the chosen
marketing plan.
 TEST MARKETING
-depending on the results, a firm
can decide to go ahead, modify the
product or services, modify the
marketing plan, or drop or delete
the product.
 COMMERCIALIZATION
-this involves the actual marketing
of the product in the target market.
The different activities to introduce
the product to the market must be
presented.
 II. INTRODUCTION
-A new product is introduced into
the marketplace and the objective is
to generate customer interest.
 II. INTRODUCTION
-The rate of sales growth depends
on the desirability of the product,
competition is limited or selected,
losses are experienced due to high
production and marketing cost.
 II. INTRODUCTION
-Initial and immediate customers are
called innovators who are willing to take
risks because the product is new in the
market. Promotions must be
informative and free samples may be
desirable
 III. GROWTH
-the product gained wider consumer
acceptance and the objetive is to expand
distribution and the range of available
product alternatives. More firms enter
the profitable and tested market.
 III. GROWTH
-Profits are high because the mass
market buys from a limited group of
firms. Basic models are modified and
chosen, distribution is expanded coupled
with mass advertising to meet new goals.
 IV. MATURITY
-the product’s sales level and companies
try to maintain lower price, better
product features for as long as possible.
Market is saturated, penetrated and
competition is at its highest level.
 IV. MATURITY
-companies profits decline because
discounting is popular and there is high
cost of advertising. Products are
available at most outlets at varying
prices. Promotion i very competetive.
 V. DECLINE
-the product’s sales falls as substitutes and
new competitors enter the market. During
this stage, firms may reduce or lessen the
items producedand outlets used, promotion
utilized, or they can revive and renew the
product by repositioning, repackaging, or
they can terminate the product.