In building products,

entrepreneurs meet
customers needs.
IDENTIFY THE MARKET
PROBLEM
By: AR-JAY C. ROMERO
Entrep Teacher
 IN IDENTIFYING MARKET
PROBLEM, WE CONSIDER THE FF

1. EXISTING CUSTOMERS- people

who have already purchased the
product you are selling
 IN IDENTIFYING MARKET
PROBLEM, WE CONSIDER THE FF

2. TARGET MARKET USERS-

people in your target market who are
not currently looking for a solution
 IN IDENTIFYING MARKET
PROBLEM, WE CONSIDER THE FF

3. PROSPECTS- people who have not

yet purchased your product but have
an intention to buy
 TIPS IN IDENTIFYING MARKET
PROBLEM

1. Focus on innovation and

competition
2. Focus on customers
3. Focus on revenue
 PROBLEM- IDENTIFICATION
RESEARCH
1. BRAND IMAGE- impression in
the consumer’s mind of a brand’s
total personality.
 PROBLEM- IDENTIFICATION
RESEARCH
2. MARKET CHARACTERISTICS-
describes attributes of the buyers in
making decision related in purchasing
a certain product
 PROBLEM- IDENTIFICATION
RESEARCH
3. MARKET POTENTIAL- maximum
total sales revenue of all suppliers of a
product in a market during a certain
period
 PROBLEM- IDENTIFICATION
RESEARCH
4. MARKET SHARE- percentage of
total sales volume in a market captured
by a brand, product or company
 PROBLEM- SOLVING RESEARCH
1. DISTRIBUTION RESEARCH-
determining on how to transfer the
product from manufacturer to
ultimate user
 PROBLEM- SOLVING RESEARCH
2. MARKET SEGMENTATION-
grouping customers by similar
characteristics or similar purchase
behaviors
 PROBLEM- SOLVING RESEARCH
3. PRICING RESEARCH-
determining the ideal price for the
product
4. PRODUCT RESEARCH- testing
the new or revised productsor
completing test marketing
 PROBLEM- SOLVING RESEARCH
5. PROMOTIONAL RESEARCH-
determining the best research in the
area of disseminating information