Senior

High
School
Quarter 1: Week 3 and 4
Subject Teacher: Clareen June E. Dagoy

REMINDER: DO NOT WRITE ANYTHING IN THIS LEARNING MATERIAL.

This module aims to guide the learners with the concepts, underlying principles,
processes, and implementation of a business plan. The preliminaries of this module
include the following: discussion on the relevance of the course; explanation of key
concepts of common competencies; explanation of core competencies relative to the
course; and exploration of career opportunities.

General Instruction:

1. Use the module with care. Do not put unnecessary mark/s on any part of the
module.
2. Use a separate sheet of paper in answering the activities.
➢ For the following activities such as Multiple Choice, Identification, True or
False, Matching type, write your answers immediately.
3. Read the instruction carefully before doing and answering the activity.
4. DO NOT FORGET TO WRITE YOUR NAME. This is an example of how your Answer
Sheet should look like.

5. Check the last page of this module for your Activity Score Sheet and guidelines.

6. Observe honesty and integrity in doing and answering the activities.

7. Begin and end this self-learning module with gratefulness in your life and a smile on
your face.
8. Finish the task at hand before proceeding to the next.
9. RETURN this module to your teacher/facilitator once you are through with it.

“The future belongs to those who believe in the beauty of their dreams.”
Eleanor Roosevelt
APPLIED ENTREPRENEURSHIP - GRADE 12
QUARTER 1: WEEK 3

https://tinyurl.com/y5sa25t8

CONTENT STANDARD: At the end of the lesson, the learner demonstrates understanding
of concepts, underlying principles, and processes of developing a business plan.

PERFORMANCE STANDARD: The learners shall be able to independently or with his/her

classmates presents an acceptable detailed business plan.

LEARNING COMPETENCY:
At the end of the lesson, the learner must be able to recognize a potential market
and analyze the market need. LE_ICTAN11/12PC-Ia-1

LEARNING OBJECTIVES:

❖ Define what is potential market; and

❖ analyze the market need as important factor in building a business.
.

1
 PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please analyze the pictures
below and list down at least three (3) potential markets that entrepreneurs should
consider during this COVID -19 pandemic and indicate their needs. Write your answer in
the space provided.

https://images.search.yahoo.com/

Potential Market Market Need

1. 1.

2. 2.

3. 3.

You have finished answering the pre-test. You may request your facilitator/guardian
to check your work. Congratulations and keep on learning!

LOOKING BACK TO YOUR LESSON

As we go further, let us try to recall the competencies in Entrepreneurship.

o Competencies such as risk seeking, assertiveness and vision are considered typical
of a successful entrepreneur (www.ideasforleaders.com).

o Specific techniques and habits must be practiced and developed by all would-be
entrepreneurs. Aside from business competencies, entrepreneurs need
interpersonal and self-leadership skills too; however, these are often overlooked.
Entrepreneurial behavior’ can be learned and developed
(www.ideasforleaders.com).

o If you’re an aspiring entrepreneur, there are different career paths you can take to
turn your dream into a reality. Which path you choose will depend on your
experience, skills, finances, and flexibility, as well as your goals for the future (Doyle,
A., 2020

2
 Please answer the questions below. Good Luck!

MULTIPLE CHOICE: Write the letter of the correct answer that best complete the sentence
in the space provided.

______1. All are core competencies in Entrepreneurship, except:

A. basic bookkeeping/ accounting skills B. communication skills
C. building relations with customer D. building competitive
advantage
______2. Which of the following is not a business competency? This competency covers
the outcomes required to build, _____ and grow a micro/small-scale enterprise –
like developing and maintaining small-scale business, establish customer base,
and manage business finances.
A. Establish customer service B. Manage finances
C. Preparing business letters D. Monitoring operations
______3. Which is not a goal of entrepreneurial competency?
A. Expanding the enterprise B. Expanding markets and clientele
C. Developing individuals and teams D. Enhancing one’s business skill
______4. All are important aspects of Entrepreneurship as a course, except:
A. Discussion on economic issues and concerns.
B. Explanation of key concepts of competencies in Entrepreneurship.
C. Discussion on the relevance of the course.
D. Exploration of career opportunities.
_______5. Which of the following does not cover a high-performing enterprise?
A. Build and develop the enterprise to be more competitive within a changing
business environment.
B. Creating gaps among employees.
C. Responding to consumers’ demand.
D. Maintaining product quality and accessibility.

BRIEF INTRODUCTION

The Potential Market

1. Potential market is the part of the total population that has shown some level of
interest in buying a particular product or service. Potential market is also called
Total addressable market (TAM) (MBA Skool Team, 2018).
2. A potential market is the part of the market you can capture in the future. It
includes the demographic groups that are not currently your customers but could
become customers in the future (Lake, L, 2019).
3. Market potential is the total demand for a product in a given business environment
(Bhasin, H., 2018).

The Importance of Potential Markets (Lake, L., 2019)

• Potential markets are an important part of a business's future growth.
• Ensure the future of your business by identifying new customers.
• Think proactively about ways for your business to grow and change.

3
 • Show the potential of your business to investors or collaborators.
• Increase your revenue.
• Create a plan B that will weather changes in the economy or market.

How to Identify Your Potential Markets (Lake, L., 2019)

• Consider every target demographic that you currently sell to, as well as those you
have not yet targeted. Identify what they have in common with each other, new
milestones that they will encounter in their lives that will impact their buying
patterns, and where they overlap or diverge from your current customers.

Ask yourself these questions that will help you identify both new ways to market
your current products or services, as well as new products and services that you can
begin selling.
• What other products do my customers need now?
• What related products will they need in the future?
• Who else could make use of the products I am selling now?
• What demographic information does that new group have in common with my
current customers?
• What demographic information does that new group have in common with each
other?

For example, a business that makes face masks and PPEs could identify potential
markets such as:
• Hospitals and other health related industries whose employees are prone to
COVID -19 virus and other viruses.
• Business industries and other organizations who want to ensure the health
condition of their employees.
• Employees and workers who need to report to work to earn income.
• Households who needs to go out for their necessities.

Note: Depending on the size and age of your company, as well as your industry, you may
have a clear picture of the potential markets that are available.

Reaching Your Potential Market (Lake, L., 2019)

Once you've identified and chosen a potential market to begin targeting, you will
need new marketing strategies in place to communicate with them. Use this profile to
identify:
• The demographic information that people in a group have in common.
• The best forms of media to reach them.
• How they prefer to shop and make purchases.
• The concerns, struggles, or problems that you can help them overcome.
• What values matter to them, both in everyday life and when shopping.
• The language that resonates with them. FIG. 1

The figure 1 depicts what is a potential

market with respect to the total population and
how it can be converted to a penetrated
market:

MBA School Team 2018

4
Available Market
• Prospects who are willing and capable (have sufficient resources) buyers, and
have access to a particular market or service (www.businessdictionary.com).
• Defined as the number of people who are both willing and capable of buying a
particular product or service in a particular market (MBA Skool Team, 2020).

Target Market
• Refers to a group of potential customers to whom a company wants to sell its
products and services. Target markets are generally categorized by age, location,
income, and lifestyle. Defining a specific target market allows a company to home
in on specific market factors to reach and connect with customers through sales
and marketing efforts. (Kenton, W., 2019).

Penetrated Market
• A set of customers or clients who are already using a particular product or service.
A penetrated market means that the potential users of a product or service are
aware of it, and in many cases are active consumers of it.
(www.businessdictionary.com).

The size of a potential market helps a company understand the level of investment
it should make further in the market, while taking into consideration other factors. If the
potential market is very small, it means there is a very small fraction of the total population
showing any interest in the product or category. This means that it is better that the
company doesn’t invest further in the product or category because people won’t buy it.
If the size of the potential market is large, it means that there is a huge fraction of the
total population which is showing interest in the product, so further investment can be
made on the product development or modification, marketing, promotions etc. The size
of the potential market gives an estimate of what all a company should do and how
much it should invest (MBA Skool Team, 2018).

The Market Need

1. Need
A motivating force that compels action for its satisfaction. Needs range
from basic survival needs (common to all human beings) satisfied by
necessities, to cultural, intellectual, and social needs (varying from place to
place and age group to age group) satisfied by necessaries
(www.businessdictionary.com).
o A driver of human action which marketers try to identify, emphasize, and
satisfy, and around which promotional efforts are organized
(www.businessdictionary.com).
2. Market
o A Market is a place where two parties can gather to facilitate the
exchange of goods and services. The parties involved are usually buyers
and sellers. The market may be physical like a retail outlet, where people
meet face-to-face, or virtual like an online market, where there is no direct
physical contact between buyers and sellers (Kenton, W. & Boyle, M., 2020).
o A market does not refer to a particular place, but it refers to a market for a
commodity or commodities. It refers to an arrangement whereby buyers
and sellers come in close contact with each other directly or indirectly to
sell and buy goods (Shaikh, S., retrieved 2020).

5
 o A market is any place where sellers of particular goods or services can meet
with buyers of those goods and services. It creates the potential for a
transaction to take place. The buyers must have something they can offer
in exchange for the product to create a successful transaction (Moffatt, M.,
2019)
Your market consists of (Stull, C., Myers, P.& Scott D.M. (2008) as cited in:
https://learn.marsdd.com/):

Existing customers: People who have already purchased your product.

Prospects: People who have not yet purchased your product but are considering
it.
Target market users: People in your target market who are not currently looking for
a solution.

Define the Market Need for Your New Business

Why is it important to clearly define market needs?

The market now demands that your business align to their needs. In order to
properly align your marketing efforts ‒ and your content, in particular ‒ to what buyers
need, you have to have a clear understanding of the many intricacies, pains and
pressures within your market. To achieve such alignment, the ability to define market
patterns, needs, interests, preferences, etc. for a comprehensive view of the buying
process is critical (www.aberdeen.com).

Below are ways to define your market (Lancaster SCORE (2010):

• Consider whether the business offers a new solution to an old problem or
complements an emerging trend.
• Have a clear picture of your target market.
• Determine the benefits that your product or service offers.
• Examine industry data that can confirm whether there is a sustained, growing
demand for your product or service.
• Identify the percentage of market share that it is realistic for you to capture. The
more competition you have, the lower the margins will be.
• Consider how realistic your pricing is. How can you present your product or
service to potential customers so that it appears to be a good value, while still
affording you a healthy profit?

6
 ACTIVITIES

Activity 1. Read and analyze the statements below about “Market”. Determine whether
the statement is TRUE OR FALSE. Write TRUE if the statement is correct and write FALSE if
otherwise. Write your answer in the space provided
__________1. A market is any place where two or more parties can meet to engage in an
economic transaction—and should only involve legal tender.
__________2. Market includes retail stores and other similar businesses that sell individual
items to wholesale markets selling goods to other distributors but may not
be virtual.
___________3. Market refers to the whole area of operation of demand and supply.
___________4. A market signifies any arrangement in which the sale and purchase of
goods take place.
___________5. The market establishes the prices for goods and other services.

Activity 2. Read and analyze the given situations below. Identify whether this refers to
existing customer, prospects, or target market users. Write your answer in the space
provided.
1. Students need to buy 6. Arlene, a student at a
a tablet/ laptop for public school, needs
school requirements. mobile data in order
to comply with the
requirements in
school.
2. Ana used to buy 7. Hospitals need
shampoo facemasks and PPEs.
3. Households living in a 8. Mike, a sari-sari store
remote area owner, wants to go
online selling.
4. Martha, a call center 9. Jeep drivers need to
agent, needs a Wi-Fi modify their jeeps for
public transportation.
5. Karlo, a factory 10. Ella needs to buy her
worker, needs vitamin C to boost her
transportation immune system.

Activity 3. MAKE MEANAING-INTERNET ASSISTED ACTIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use
the internet to define the given word/phrase. Write your answer in the space provided.

1. Customer vs. consumer ____________________________________________________________

2. Demographic group_______________________________________________________________

3. Market share ______________________________________________________________________

4. Market size ________________________________________________________________________

5. Marketing strategies_______________________________________________________________

7
 REMEMBER

• Potential market is the part of the total population that has shown some level of
interest in buying a particular product or service. Potential market is also called
Total addressable market (TAM) (MBA Skool Team, 2018).
• Available Market are prospects who are willing and capable (have sufficient
resources) buyers, and have access to a particular market or service
(www.businessdictionary.com).
• Target Market refers to a group of potential customers to whom a company wants
to sell its products and services. Target markets are generally categorized by age,
location, income, and lifestyle (Kenton, W., 2019).
• Penetrated Market is a set of customers or clients who are already using a
particular product or service (www.businessdictionary.com).
• Need is a motivating force that compels action for its satisfaction. Needs range
from basic survival needs (common to all human beings) satisfied by necessities,
to cultural, intellectual, and social needs (varying from place to place and age
group to age group) satisfied by necessaries (www.businessdictionary.com).
• A Market is a place where two parties can gather to facilitate the exchange of
goods and services (Kenton, W. & Boyle, M., 2020).
• Existing customers are people who have already purchased your product.
• Prospects are people who have not yet purchased your product but are
considering it.
• Target market users are people in your target market who are not currently looking
for a solution.

POST-TEST

Identification. Read and analyze the statements below and identify whether this refers
to potential market, available market, target market, or penetrated market. Write your
answer in the space provided.

_________1. Active consumers of a product.

_________2. People who are both willing and capable of buying a particular
product or service in a particular market.
_________3. It is the part of the total population that has shown some level of interest
in buying a particular product or service.
_________4. It includes specific customers to whom a company directs its marketing
efforts.
_________5. Customers or clients who are already using a particular product or
service.

8
MATCHING TYPE. Match the definitions in Column A with the word/phrase in Column B.
Write your answer in the space provided.

COLUMN A COLUMN B
1. It is a company’s marketing goals and objectives A. Market
combined into a single comprehensive plan.
2. Refers to a person or organization that uses a commodity B. Target Market
or service.
3. This is an arena in which commercial dealings are C. Potential Market
conducted.
4. This is used to give a general idea of the size of the D. Need
company in relation to its market and its competitors.
5. This is one part of the total market for a good or service. E. Demographic group
6. It is also called Total addressable market (TAM. F. Market Strategy
7. A person or business that purchases a commodity or G. Market size
service.
8. Circumstances in which something is necessary, or that H. Customer
require some course of action; necessity.
9. The study of the characteristics of human populations, I. Consumer
such as size, growth, density, distribution, and vital
statistics.
10. The number of buyers and sellers in a particular market J. Market Share

REFLECTIVE LEARNING

If you’re thinking about starting a business, most likely you have dreamed of one
that involves your interests. But what does the market need or want? Do you know who
is buying what and how much, or how, where, and why they are buying those goods or
services already?

Determining the marketability of your start-up business is typically done in the

context of creating a business plan and performing an analysis of your competition. It
requires research into areas of marketability.

REFERENCES

Division of City Schools Manila, and Farida F. Tallud, Mark Vincent B Emit. Module
3. Applied Entrepreneurship: Potential Market

z Market. Retrieved from:

Available
http://www.businessdictionary.com/definition/available-market.html

9
APPLIED ENTREPRENEURSHIP - GRADE 12
QUARTER 1: WEEK 4

https://tinyurl.com/4hsewvb
7

CONTENT STANDARD: At the end of the lesson, the learner demonstrates understanding
of concepts, underlying principles, and processes of developing a business plan.

PERFORMANCE STANDARD: The learners shall be able to independently or with his/her

classmates presents an acceptable detailed business plan.

LEARNING COMPETENCY:
At the end of the lesson, the learner must be able to determine the possible
product/s or service/s that will meet the need. LE_ICTAN11/12PC-Ia-1

LEARNING OBJECTIVES:

❖ Determine the products and services; and

❖ explore customers need.
.

10
 PRE-TEST

DIRECTIONS: To check your prior knowledge about the topic, please analyze the
statements below. Write the letter of the correct answer in the space provided.

_________1. Which is referred to as a marketing offering?

A. Product/Service B. Sales C. Company D. Goals

_________2. Which of the following is not a tangible product?

A. Car B. Alcohol C. event organizer D. Face mask

_________3. Which is referred to as the production of an essentially intangible benefit?

A. Items B. Company C. Service D. Market

_________4. Which of the following is a customer need that an Entrepreneur should

consider?
A. Usability B. Income C. Occupation D. savings

_________5. Which is not an after sales service?

A. Online support B. warranty & Guarantee
C. Returns & Replacement D. Employee training

You have finished answering the pre-test. You may request your facilitator/guardian
to check your work. Congratulations and keep on learning!

LOOKING BACK TO YOUR LESSON

As we go further, let us try to recall our lesson about the potential market and
market need.
• A Market is a place where two parties can gather to facilitate the
exchange of goods and services.

• A potential market is the part of the market you can capture in the future.
It includes the demographic groups that are not currently your customers
but could become customers in the future (Lake, L, 2019).

• The size of a potential market helps a company understand the level of

investment it should make further in the market, while taking into
consideration other factors.

• The market now demands that your business align to their needs. In order
to properly align your marketing efforts ‒ and your content, in particular ‒
to what buyers need, you have to have a clear understanding of the many
intricacies, pains and pressures within your market.

11
 Please answer the questions below. Good Luck!

DIRECTIONS: Read and analyze the statements below. Determine whether the statement
is TRUE OR FALSE. Write TRUE if the statement is correct and write FALSE if otherwise. Write
your answer in the space provided.

________ 1. Penetrated Market is a set of customers or clients who are already using
a particular product or service.
________ 2. Available market refers to a group of potential customers to whom a
company wants to sell its products and services.
________ 3. Target market users are people who have not yet purchased your
product but are considering it.
________ 4. Need is a motivating force that compels action for its satisfaction.
________ 5. Existing customers are people who have already purchased your
product.
________ 6. To know the demographic information that people have in common is a
way of reaching a potential market.
________ 7. To determine the potential market is not helpful for business future growth.
________ 8. Asking what related products customers will need in the future is helpful in
identifying potential markets.
________ 9. Customer is a person or organization that uses a commodity or service.
________ 10. Market size is the number of individuals in a certain market segment who
are potential buyers.

BRIEF INTRODUCTION

As would-be entrepreneurs, there is a need to find the right products or services

for your target market. The product or service should deliver superior customer value
(Claessens, M., 2015).

Concepts about Product and Service

A product can be defined as anything that we can offer to a market for attention,
acquisition, use or consumption that could satisfy a need or want. However, the definition
of product does not only involve tangible goods such as a car, a fridge or a phone. The
definition is extended to include intangible objects as well, because they can be offered
to a market. Therefore, the broad definition of product includes services, events, persons,
places, organizations or even ideas (Claessens, M., 2015).

Services are special form of product which consists of activities, benefits or

satisfactions offered for sale that are intangible and do not result in the ownership of
anything. A service can thus include banking, airline travel, communication services,
hotel services and so on (Claessens, M., 2015).

A product is a tangible item that is put on the market for acquisition, attention,
or consumption, while a service is an intangible item, which arises from the output of
one or more individuals (https://corporatefinanceinstitute.com).

12
Examples:

1. When a consumer buys a car, the product comes with a lot of other service
responsibilities, such as tune-up and maintenance
(https://corporatefinanceinstitute.com).
2. A laptop buyer now buys a bundle of service benefits in addition to the tangible
components of the laptop.

Specific Examples of products and services (https://www.archives.gov)

Products
• new prints of motion picture film elements
• prints for exhibit purposes
• reference copies on DVD/CDs, books, magazines for the reading rooms or other
clients
• Cars, tables, and chairs, etc.
Services
• consulting with clients on appropriate products for specific purposes
• providing advice on risk assessment and priority setting
• working on standards committees
• conducting training and other educational outreach

The Difference of Product and Service (https://accountlearning.com)

PRODUCT SERVICE
1. It is tangible It is intangible
2. Quality standards can be attained It is very difficulty to attain quality
standards,
3. It may be an asset sometimes, e.g., It involves expenditure without any
fridge, television set, etc. tangible return benefit.
4. Physical possession is possible. Physical possession is not possible.
5. It can be stored. It cannot be stored.
6. It can be transported. It cannot be transported.
7. The producer and the seller may be The producer of service is the seller too,
different persons. e.g., medical and legal services.
8. Assembling is very important. Assembling has no relevance at all.
9. Skill of the seller alone cannot Skill of the service provider is the deciding
determine sale. factor in most cases, e.g., legal, catering
and medical services.
10. Production and distribution need not Production and distribution of service will
take place simultaneously. have to be done simultaneously, e.g.,
provision of electricity.
11. Packing plays a crucial role in the It has no relevance in the marketing of
marketing of any product. service.
12. Both Brand name and Trade name Brand mark and Trade name are
are important in the marketing of any important in the marketing of services.
product.
13. Labelling is an integral part of It has no relevance.
marketing. It is required as per law.

13
Identifying and Meeting Customer Needs

Customer needs are the named and unnamed needs of customers when they
come in contact with the different business establishments or when they search for the
solutions which businesses provide (https://www.conductor.com/). In addition, providing
superior customer service means meeting customers’ needs by providing them with the
products and services they want or by providing effective solutions to their problems
(https://simplifytraining.com/). Similarly, innovation comes from identifying customers’
needs and providing solutions that meet those needs (Sauro, J.).

Why “Identifying Customer Needs” Matters (https://simplifytraining.com/)

1. Correctly identifying customers’ needs is essential for ensuring customer
satisfaction and loyalty.
2. Customers have unique needs.
3. Often, customers either aren’t clear about what they need or they don’t really
know what they want.
4. Identifying clients’ needs creates satisfied customers, and satisfied customers are
less likely to have reason to enter into disputes with the organization or
contemplate legal action.

Key Points (https://simplifytraining.com/)

1. To ensure customer satisfaction, entrepreneurs must correctly identify customers’
needs.
2. To identify needs, entrepreneurs must both listen and ask the right questions.
3. After identifying needs, always check for additional or related needs.
4. As an entrepreneur, use your knowledge and experience to identify and present
the right products, services, and solutions to meet your customers’ needs.

How to Meet the Needs of Customers (https://www.conductor.com/)

1. Identify what the customers need through keyword research, focus groups, or
social listening.
2. Distribute the information to relevant stakeholders in the organization.
3. Craft product features or create content that speaks to the customer’s needs.
4. Collect customer feedback in order to meet their expectations.

ACTIVITIES

Activity 1. To learn more about what community or customers’ needs are, product need
assessment survey is important. The results of the survey then guide future action.
Generally, the needs that are rated most important are the ones that get addressed.

As would-be entrepreneur makes 10 items customer product survey

questionnaire. Focus on the following guidelines:

1. Give a brief description about the product.

14
 2. Give directions as to how the customers will answer the questionnaire.

3. The statement should be in a question form.

4. Use a 4 point likert scale, 4 as the highest and 1 as the lowest e.g. 4 – very positive,
3 – somewhat positive, 2 somewhat negative, 1 very negative. You may use other
rating scale.

5. The questions should focus on:

a. Reaction about the product/service
b. Characteristics/features of the product/service
c. Product innovation
d. If the product/service will meet the customer’s need
e. The value of the product/service
f. If the customer will buy the product once it is available in the market
g. If they will recommend the product to their friends
h. If they will replace their existing product once your product is available in
the market
i. The features/characteristics they like about the product
j. Suggestions to improve the product/service

Activity 2. MAKE MEANING-INTERNET ASSISSTED ACITIVITY

DIRECTIONS: Give the meaning of the following word/phrase in each item. You may use
the internet to help you define the given word/phrase. Write your answer in the space
provided.

1. Consumption _____________________________________________________________________
2. Acquisition________________________________________________________________________
3. Customer loyalty __________________________________________________________________
4. Customer satisfaction______________________________________________________________
5. Customer service__________________________________________________________________
6. Customer feedback _______________________________________________________________
7. Stakeholders______________________________________________________________________
8. Expenditures ______________________________________________________________________
9. Tangible __________________________________________________________________________
10. Intangible _______________________________________________________________________

REMEMBER

• A product can be defined as anything that we can offer to a market for attention,
acquisition, use or consumption that could satisfy a need or want.

• Services are special form of product which consists of activities, benefits or

satisfactions offered for sale that are intangible and do not result in the ownership
of anything.

• Customer needs are the named and unnamed needs of customers when they
come in contact with the different business establishments or when they search
for the solutions which businesses provide.

15
 • Innovation comes from identifying customers’ needs and providing solutions that
meet those needs.

CHECK YOUR UNDERSTADING

DIRECTIONS: Read and analyze the statements below about “Product or Service”.
Determine whether the statement is TRUE OR FALSE. Write TRUE if the statement is correct
and write FALSE if otherwise. Write your answer in the space provided.

____________1. Products do not carry an element of service.

____________2. A 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 organization
produces.
____________6. Products and services can both be perishable.
____________7. Service is associated with physical items.
____________8. A product is an offering that derives value from intangible elements.
____________9. A product may be capable of being reused for a certain time.
____________10. Service has no connection with the sale of products.

POST-TEST

CRISS CROSS PUZZLE. Read and analyze the clues below and write the correct word on
the blocks across and down.

Products or services that will meet the need

Across
2 - measures how well the expectations of a customer concerning a product or service
provided by a company have been met.
4 - taking possession of an asset by purchase.
7 - is a party that has an interest in a company and can either affect or be affected by
the business.
9 - the amount of something that people and other entities use.
10 - is information provide

Down
1- funds used by a business to attain new assets, improve existing ones, or reduce a
liability.
3 - unable to be touched or grasped; not having physical presence.
5 - indicates the extent to which customers are devoted to a company’s products or
services.
6 - meeting the needs and desires of any customer.
8 - capable of being perceived especially by the sense of touch

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MATCHING TYPE. Column A contains list of products and Column B contains list of
services. Match as to which service in Column B is related to the product in Column A.

ANSWER COLUMN A: Products COLUMN B: Services

1. Car A. Usability and durability

2. Xerox machine B. Repairs and maintenance

3. Smart phone C. Leasing or pay per copy

4. Credit card D. Entertainment

5. Organic products E. Consistent quality

6. Television F. Bills payment

7. Accessories G. Healthy lifestyle

8. Books H. Boost immune system

9. Vitamins I. Accuracy of information

10. Basic goods J. Fashionable designs

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 REFLECTIVE LEARNING

To succeed as an entrepreneur, you must develop the ability to select and offer the

right products or services to your customers in a competitive market. More than any other

factor, your ability to make this choice will determine your success or failure (Tracy, B.,

2015).

There are thousands of products and services available to consumers today. And

there are unlimited opportunities for you to enter the marketplace and compete

effectively with a new product or service that's better in some way than what's already

being offered by your competitors. Remember, your skill at choosing that product or

service is critical to your success (Tracy, B., 2015).

Once you've got a product or service in mind, you need to begin with a self-analysis

(Tracy, B., 2015):

• What kinds of products do you like, enjoy, consume and benefit from?

• Do you like the product or service you're planning to sell?

• Can you see yourself getting excited about this product or service?

• Would you buy it and use it yourself?

• Would you sell it to your mother, your best friend, your next-door neighbor?

REFERENCES

Division of City Schools Manila, and Farida F. Tallud, Clarabelle V. Dalimit. Module
4. Applied Entrepreneurship: Determine the Possible Products/Services the
Customer
z Needs.

Tracy, B. (2015). Choosing a Product or Service to Sell. Retrieved from:

https://www.entrepreneur.com/article/78778

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Please remove this PAGE and ATTACH it in front of your answer sheets.

ACTIVITY SCORE SHEET

This will serve as your guide on what are the following activities to answer. Please fill in the
necessary information on the table.

NAME: WEEK NO.

SECTION: DATE:

SUBJECT:
SUBMITTED
WEEK NO. ACTIVITIES POINTS SCORE
(✓)
Activity 1 5

Activity 2 10
3
Activity 3 5

Post Test 15

Activity 1 20

Activity 2 10
4 Check your
10
Understanding

Post Test 20

__________________________________
(STUDENT’S SIGNAGURE)

REMARKS:

_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________

Checked by:

Clareen June E. Dagoy DATE: __________________

Subject Teacher

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