ENTREPRENEURSHIP

MARKETING PLAN
Prayer
 CONTENT STANDARD

The learner demonstrates understanding of

environment and market in one’s locality/town.

PERFORMANCE STANDARD
The learner independently creates a business
vicinity map reflective of potential market in
one’s locality/town
 LEARNING COMPETENCIES

2. Recognize and understand the market

The learners…
Determine who the customers are in terms
of
• Target market;
• Customer requirements; and
• Market size
 Learning Objectives
Define and discuss what is a “Target
Market”
Recognize the Customer requirements
Understand what is a Market Size
03
MA R K ET IN G
PL A N
 MARKETING
It is an important part of
starting and running a
business. It helps you to sell
your goods or services in the
right way and to the right
people.
 MARKETING
It is the ability to identify the
needs of potential customers
and to satisfy those needs
better than your competitors, in
order to make a profit.
2 PICS
1 WORD
TARGET MARKET
TARGET CUSTOMER
03
e t M a r k e t
Targ
and
R e q u ire m e n t s
Cu s tom e r
 TARGET MARKET

The target market is the

individuals or group of people
that are interested in a
particular products or services
and are willing and able to
pay for it.
 Finding your Target Market
Who are your customers?

Who will buy your products?

Identify and serve a particular

customer group – your target
market!
 CUSTOMER/CLIENT

What is the
difference between
customer and
client?
 CUSTOMER/CLIENT

are the people who

buy the products
and services that a
certain business
offer.
 CUSTOMER/CLIENT
Customers buy goods and
services to satisfy economic
wants and needs.
What is economic need?

What is economic want?

 CUSTOMER/CLIENT

An economic need is anything

that is required to live.

An economic want is an unfilled

desire of a customer.
 CUSTOMER REQUIREMENTS

GRAPDEMHOICS
 CUSTOMER REQUIREMENTS

Demographics are data

that describe a group of
people in terms of their
age, marital status, family
size, ethnicity, gender,
profession, education, and
income.
 CUSTOMER REQUIREMENTS

CHOPSYPHICGRAS
 CUSTOMER REQUIREMENTS

Psychographics are data

that describe a group of
people in terms of their
tastes, opinions,
personality traits, and
lifestyle habits.
CUSTOMER REQUIREMENTS

HAVIORBEISTIC
 CUSTOMER REQUIREMENTS

Behavioristic are data that

describe a group of people
in terms of their behavior.
CUSTOMER REQUIREMENTS

GRAGEOPHIC
 CUSTOMER REQUIREMENTS

Geographic are data

that describe a group of
people in terms of their
location.
CUSTOMER REQUIREMENTS

1.Demographics
2.Psychographics
3.Behavioristic
4.Geographic
CUSTOMER PROFILE

A customer profile is a
description of the
characteristics of the
person or company that
is likely to purchase a
product or service.
 MARKET SIZE
How many customers are ready to buy your
products and services offering in terms of
their:
 age
 gender
 occupation
 status
 location
 income 1st Qtr 2nd Qtr 3rd Qtr
 CONDUCT MARKET RESEARCH

It is important that you should identify the

needs of potential customers and find out
how your future competitors have been
satisfying those needs.

This can be done by conducting a market

research.
CONDUCT MARKET RESEARCH

From your experience and from developing

your business idea, you may already know
quite a lot about your market.

But the more you know, the more capable

you are to design a good Marketing Plan.
CONDUCT MARKET RESEARCH

You need to find out more

information about the market
from a variety of sources.
List all the sources that you are
aware of.
Here are some examples of ways to find
out more about your customers and
competitors
Talk to potential customers. Ask them:
● What goods or services do they want to
buy?
● What do they think about your
competitors?