REVIEW

1. Potential market-Is the part of the total population that has

shown some level of interest in buying a particular product
or service.
2. Potential market is also called Total addressable market
(TAM)
3. Available Market-Are prospects who are willing and capable
(have sufficient resources) buyers, and have access to a
particular market or service
 REVIEW

1. Target Market- This refers to a group of potential customers

to whom a company wants to sell its products and services.
2. Penetrated Market-Is a set of customers or clients who are
already using a particular product or service
3. Need-Is a motivating force that compels action for its
satisfaction. Needs range from basic survival needs
 REVIEW

1. Market-Is a place where two parties can gather to facilitate

the exchange of goods and services
2. Existing customers-Are people who have already purchased
your product.
3. Prospects-Are people who have not yet purchased your
product but are considering it.
4. Target market users-Are people in your target market who
are not currently looking for a solution.
 REVIEW

PICTOGRAPHIC
 A C T I VAT E

WHY IS THE
P R O D U C T / S E RV I C E N E E D E D
IN THE PRESENT TIME?

W H O W I L L B E T H E TA R G E T
MARKET?
 A C T I VAT E

DISCUSSION ON THE
FOLLOWING:

• Concepts about product and service

• The difference between product and service.
• Tangible vs/ intangible
• Production vs. interaction
• Perishable vs. imperishable
• Identifying and meeting customer needs
 IMMERSE

ACTIVITY

T R U E O R FA L S E !
5 I T E M S O N LY
_________1. products do not carry an element of service.

_________2. service is the result of the application of skills

and expertise towards an identified need.

_________3. a service isn't something you can try out before

you pay for it.

_________4. all products are countable, touchable, and

visible, a consumer can assess its durability by examining it.

_________5. products are tangible and discernible items that

the
 SYNTHESIS

ACTIVITY
I N A PA R T I C U L A R L O C A L I T Y, T H E R E I S A S H O R T A G E O F
FA C E M A S K . T H E R E S I D E N T S O F T H E P L A C E A N D T H E
H E A LT H C A R E F R O N T L I N E R S C O N T I N U E T O A C C O M M O D AT E
T H E U N P R E C E D E N T E D C H A L L E N G E O F T H E C O R O N AV I R U S
O U T B R E A K . M A N Y O F T H E S E T T L E R S D O N O T H AV E
A D E Q U AT E P R O T E C T I O N A G A I N S T T H E PA N D E M I C .

A S A N E N T R E P R E N E U R , W H AT D O Y O U T H I N K W I L L B E A
P O T E N T I A L B U S I N E S S T H AT
C O U L D A D D R E S S T H E N E E D ? W H O W I L L B E Y O U R TA R G E T
MARKET?
 E VA L U AT I O N

ACTIVITY

M U LT I P L E C H O I C E
5 I T E M S O N LY
1. The customers you would most like to
attract are referred to as your

A. Competition C. Market segments

B . Ta r g e t m a r k e t D . M a r k e t
2. The process of creating something new
that makes life better is called...

A . Te c h n o l o g y C . B r a n d r e c o g n i t i o n
B. Innovation D. Opportunity cost
 3. Which of the following is the BEST definition of
knowing your products and services?

A. When an employee knows which product is better

than the others.
B. When an employee can explain the basic aspects
of the services the company offers
C. When an employee can explain specific details of
their products and express the value it has over
others.
D. When an employee is able to discuss what type of
product or services they sell and to whom.
4. Which of the following is the BEST explanation of
why knowing your products and services creates
value?

A. It helps the customer to see why the product or

service stands out and how it is beneficial to them.
B. It helps manipulate the customer into thinking the
product or service is of good value.
C. It identifies all the characteristics about the
product or service so customers can fully evaluate it.
D. It shows passion, which means that it must be a
good product or service.
 5. What are the typical characteristics of services?

A. Services confer benefits; are tangible; are time- and

place-dependent; are consistent; cannot be owned; and
providers and consumers form part of the service.

B. Services confer no benefits; are intangible; are time-

and placedependent; are inconsistent; cannot be owned.

C. Services are intangible; are time- and place-

dependent; are inconsistent; cannot be branded; and
providers and consumers form part of the service.

D. Services confer ownership; are intangible; can be

consumed at any time or place; are inconsistent; and
providers form part of the service.

E. Services confer benefits; are intangible; are time- and

place-dependent; are inconsistent; cannot be owned; and
providers and consumers form part of the service
 PLUS!

ACTIVITY

“BUSINESS ACTION PLAN”

PROBLEM:

People lament about the high rate of

e l e c t r i c b i l l . Yo u a l w a y s h e a r t h e m c r y
regarding this problem because it does not
give justice to the consummation.

Be i ng a n ent r e pre neur, wha t do you t hi nk

will be the potential business that could
address the need? what plan of action will
you make for you to realize your business.
Use the template below for your plan of
action.
THANK YOU