Identify the

Market
Problem
 In building product, entrepreneurs can meet
customers’ needs. In identifying market
problem, the following can be considered:

1. Existing customers are the people who have

already purchased the product you are selling.
2. Target market users are the people in your
target market who are not currently looking
for a solution.
3. Prospects are the people who have not yet
purchased your product but have an intention
to buy.
Tips in Identifying the Market Problem

1. Focusing only on innovation

and the competition
2.Focusing only on customers
3.Focusing only on revenue
 How to evaluate market problems?

1. Consider if the market problem is urgent, if yes,

consider necessary actions by identifying
alternative courses of action (ACA) then
enumerating their advantages and disadvantages.
2. Evaluate if the market problem is pervasive or
easily diffused, if yes think for a temporary
solution.
3. Determine if the buyers will pay to have this
problem solved.
 PROBLEM-IDENTIFICATION RESEARCH

1. Brand Image is the impression in the

consumers’ mind of a brand’s total personality.
It developed over time through advertising
campaigns with a consistent ideas, this is
authenticated through the consumers’ direct
experience.
2. Market Characteristics describes attributes of
the buyers in making decision related in
purchasing a certain product.
PROBLEM-IDENTIFICATION RESEARCH

3. Market Potential is the estimated

maximum total sales revenue of all
suppliers of a product in a market
during a certain period.
4. Market Share is a 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 the manufacturer to ultimate
user.
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. Setting the price for the
product is one of the most important
marketing steps.
4. Product Research: testing the new or revised
products or completing test marketing.
5. Promotional Research: determining the best
research in the area of disseminating
information.