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2.5 Lesson 5

The document provides guidance on conducting a marketing study for learner entrepreneur projects, including identifying the target market through demographics and behaviors, describing products and services, determining appropriate pricing strategies, selecting distribution locations, developing promotional strategies, and projecting sales volumes and values. Sample questions and activities are also included to help complete each section of the marketing study.

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25 views

2.5 Lesson 5

The document provides guidance on conducting a marketing study for learner entrepreneur projects, including identifying the target market through demographics and behaviors, describing products and services, determining appropriate pricing strategies, selecting distribution locations, developing promotional strategies, and projecting sales volumes and values. Sample questions and activities are also included to help complete each section of the marketing study.

Uploaded by

Dark Princess
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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2.

5 MARKETING
STUDY
MARKETING STUDY
The marketing study details the implementation
of activities for the marketing objectives of the
enterprise groups. It assumed that the chosen
environments for the business projects are the
respective school or residential communities of
the learner-entrepreneurs. Selected guidelines
for other environments are also given.
TARGET MARKET
DESCRIPTION
 Today’s business environment already draws marketing plans for an
identified market.
Include demographics, lifestyles, behavior occasion, and usage for the
market segmentation characteristics.
Since the school or residential environment is the primary location, the
needs of the population in these communities may not differ too much.
Demographic traits, such as age, gender, occupation, and education may be
used to segment school population, as the teachers, service personnel, and
even parents may be included in the identified market of the learner-
entrepreneurs.
For residential communities, family size, religion, and nationality may be
additional traits to age, gender, occupation, and education.
MARKETING STUDY
The usage behavior feature describes regular users, nonusers,
occasional users, first-timer users, and even light, medium, or
heavy users, based on the purchase volumes.
For the BES course, marketing research may be conducted to
complete the target market identification section of the marketing
study.
Primary data gathering from the identified market may be done
through simple surveys, experiments, or observational research.
Observing the behavior of school population at different time
during a school day may also give statistics on the target market.
PRODUCT OR SERVICE
DESCRIPTION
For the marketing study, pictures, graphic, illustrations, or visual,
representations may be required for the product or service description.
Features such as colors and sizes available for clothes, should be
included.
When and if the product or service standards of government or private
sector associations are on hand, this should be provided as well.
A product is tangible, so its features and characteristics are observed by
the sense. Product aroma, color, and texture may be perceived. A service is
intangible, so its features and characteristics may change with the client’s
experience of the same.
PRODUCT OR SERVICE
DESCRIPTION
Aside from intangibility, services are also characterized by variability,
inseparability, and perishability.
For food service projects, for example, a cook preparing a snack from standard
recipe at the start of the day may not be able to replicate the same snack in the
afternoon preparation.
Service providers, or those who deliver the service, cannot be detached or
distinguished from the service. The beauty salon visit by the customer may
change if his/her favorite hairdresser is not available or if the shampoo attendant
is new or experienced.
Finally, the delivered service cannot be stored for use at a different time or sold
to other clients.
PRODUCT OR SERVICE
DESCRIPTION
Service businesses take care of standardizing or keeping certain quality standards
for the delivery of their services, but the intangibility, variability, inseparability, and
perishability concept have to be addressed on a continuous basis.
PRICING STRATEGIES
Price dictates the revenue figure in the Enterprise Business Plan. It is the
amount of money exchanged for product purchase or the delivery of a
service.
For merchandising businesses, the price of the products may be the
purchase cost plus the markup and margins estimated for the ‘buying and
selling’ transactions.
Breakeven point and the used of fixed, variable, and unit costs is helpful in
computing prices for both product and service unit.
PRICING STRATEGIES
The following approaches for determining selling prices:
1. Cost-oriented pricing, where a cost serves as a basis for pricing products.
a. Cost-plus pricing, where a specified amount added to the unit cost
b. Standard markup pricing, where a specific percentage is added to the unit cost

2. Target profit pricing, where the desired profit is added to the unit cost.
3. Competition-based pricing, pricing strategy that utilizes prices of
competitors, the index for which same, higher or lower price is determined
by the owner-entrepreneur
LOCATION OR PLACE
STRATEGIES
Following distribution types to expand location-based client
populations:
1. Direct distribution, through house-to-house or stall setups
2. Indirect distribution, through agents or intermediaries
3. Hybrid distribution, a combination of the direct and indirect
approaches
LOCATION OR PLACE
STRATEGIES
The learner-entrepreneurs should consider the nature of
their products and services, for the location, place and
distribution strategies.
Perishable items, may, for instance require special
storage and display facilities.
Dry goods, although easier to transport and store, may
also benefit from display counters.
PROMOTION STRATEGIES
Promotion strategies utilize tools that are designed to
communicate with the buyer population.
Some communication platforms are advertising, public
relations, personal selling, sales promotion, and direct
marketing
Perhaps the most applicable tool for the learner-
entrepreneurs would be sales promotions through discounts,
complimentary gifts, and extra units for specified periods.
PROJECTED SALES VOLUME
AND VALUE
This section would involve forecasted figures for the
marketing activities for the period covered.
The forecasted volume is important for the purchase
orders of the operations team.
The forecasted value is the product of the volume,
multiplied by the price per unit.
SIMULATION ACTIVITY 6:
MARKETING STUDY
1. The enterprise groups meet to complete the target market data required for the
marketing study.
2. Graphic illustrations, pictures, or testimonials for the product and service
descriptions, and promotional packages are prepared and/or discussed.
3. The pricing computations for the products or services are finalized.
4. The other components of the marketing mix – location and promotion, are also
discussed and finalized.
5. The projected sales volume and value are completed.

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