Unscramble the letters

to form the word that

TRKMEA S S I LAY N A
 ANSWE
R

MARKET
ANALYSIS
Statistical characteristics
of human population used
especially to identify
markets

DOG RAIH PSCEM

DEMOGRAPHICS
Process of dividing into
segments with similar
characteristics

O N I N TTAE S G E M
 ANSWE
R

SEGMENTATION
Type of customers that are
focused within the market

TTEAGR KTERMA
 ANSWE
R

TARGET MARKET
Determining the
competitor’s strength and
weaknesses

C PTT N E M O I I
 ANSWE
R

COMPETITION
An example of a barrier to
entry

DBNAR
ANSWE
R

BRAND
Considered as a barrier to
entry which is the place/
venue where the business is
located

TLCOIOAN
 ANSWE
R

LOCATION
THE
END
PRODUCT: ITS NATURE
AND SUSTAINABILITY
By: AR-JAY C. ROMERO
Entrep Teacher
“Entrepreneurs must have
full knowledge as to what
products are needed in the
society.”
 PRODUCT
- Bundle of satisfaction
which the buyer receives as
a result of a lease or
purchase.
PRODUCT DESCRIPTION
NECESSITIES:
1. Cite uniqueness of product over
other existing products
2. Use layman’s term in describing
firm’s product. Present a
product mix
PRODUCT DESCRIPTION
NECESSITIES:
3. Illustrate the usefulness of product or
service
4. Present the nature including the content of
raw materials that will be used in the
processed product, and what is the source
and where to find it.
 EXAMPLE:
Dendridge is a dress shop that offers
different styles and variants that suits
the budget and preferences of
customers. These are some competitive
advantage of the enterprise:
 EXAMPLE:
1. Monthly themed motif
2. Customized dress
3. Reversible dress
4. Convertible dress
5. Dress with accessories
LEVELS OF PRODUCT
1. TANGIBLE
PRODUCTS
2. AUGMENTED
PRODUCT
3. GENERIC PRODUCT
 TANGIBLE PRODUCT
-basic physical appearance
 TANGIBLE PRODUCT
EXAMPLE:
HONDA BRIO MODEL
HOUSE AND LOT 400 SQ
METERS
 PRODUCT
-includes the image and
service features of a
certain entity.
 PRODUCT
EXAMPLE:
Car insurance, medical
and dental benefit, fire
insurance
 GENERIC PRODUCT
-emphasizes the impact of
the product to the
consumer not the seller.
 GENERIC PRODUCT
EXAMPLE:
Prestige, status signal,
professional image
EXAMINE THE 3 LEVELS OF THE PRODUCT
EXAMINE THE 3 LEVELS OF THE PRODUCT
 TYPES OF PRODUCT
1. GOODS- sale of physical
products from the
manufacturer to the
consumer and ultimate
user
 TYPES OF GOODS
A. Durable Goods-
physical products that are
used over a long period of
time.
 TYPES OF GOODS
Examples:
Steel, Stainless appliance
 TYPES OF GOODS
B. Non- Durable Goods- physical
products that are quickly and easily
be consumed or worn out, become
obsolete, unfashionable or no longer
popular.
 TYPES OF GOODS
Examples:
Products made of plastics
 TYPES OF PRODUCT
2. SERVICES- intangible
products that satisfaction
can be measured in future
preferences
 TYPES OF SERVICES
A. Rented- goods Services-
consumer rented facility of
the sellers in a certain
period of time.
 TYPES OF SERVICES
Examples:
Car rentals, Space rentals
 TYPES OF SERVICES
B. Owned- goods Services- are
the repair and maintenance
services rendered by the sellers
to the products of the consumer
 TYPES OF SERVICES
Examples:
Laundry business, car wash
 TYPES OF SERVICES
C. Non goods Services- personal
service on the part of the seller
 TYPES OF SERVICES
Examples:
Teacher will act as tutor,
Accountant will act as
bookkeeper
 WHAT TO DO FOR CUSTOMER
SERVICE IN THE ENTERPRISE
1. Define/ List customer service
the company can provide
2. What are the company’s
service strengths and
weaknesses
 WHAT TO DO FOR CUSTOMER
SERVICE IN THE ENTERPRISE
3. Give strategies for improving
the company’s customer service
 SERVICES
1. Intangibility- services cannot
be displayed, transported,
stored, packaged, or inspected
before buying
 SERVICES
2. Credibility- this matters the
most.
 SERVICES
3. Inseparability- service
provider and services cannot be
separated. It cannot accomplish
the purpose if one is missing.
 SERVICES
4. Variability- service cannot be
standardized because it varies
upon the performance of service
provider.
 CONSUMER PRODUCTS
Goods and services destined/
produced for the final consumer
for personal , family, or
household use. The use of the
goods designate it as consumer
products
 CONSUMER PRODUCTS
1. Convenience Products
2. Shopping Products
3. Specialty Products
 PRODUCTS
- Purchased with minimum or
less effort because the buyer has
knowledge of the product
characteristics prior to shopping
 PRODUCTS
1. Staples
2. Impulse
 STAPLES
-low priced items that are
routinely purchased on a regular
basis and are products that are
used everyday.
 STAPLES
EXAMPLE:
Rice, soap, toothpaste
 IMPULSE
-items that the consumer does
not plan to buy.
 IMPULSE
EXAMPLE:
Items bought due to impressive
promotional campaign or low
price on sale items
 SHOPPING PRODUCTS
-products that consumers
acquire through further
knowledge and information in
order to make final purchase
decisions
 SHOPPING PRODUCTS
1. Attribute- based shopping
products
2. Price- based shopping
Products
 PRODUCTS
-provide customers with
information and evaluated
product features, performance,
options, warranties and other
factors
 PRODUCTS
-enable customers to judge
product attributes to be the same
and look around for the least
expensive item
 SPECIALTY PRODUCTS
-items with particular brands
and stores to which consumers
are loyal.
 INDUSTRIAL PRODUCTS
-goods/ services purchased for
used/ consumption in the
production/ manufacturing of
goods/ services, in the operation
of the business or for resale to
other customers
 INDUSTRIAL PRODUCTS
1. Accessory equipment is
selected priced portable goods
which last long period of time,
requiring a moderate amount of
consumer decision making
 INDUSTRIAL PRODUCTS
2. Raw materials are unprocessed
basic materials from extractive and
agricultural industries. Natural
environment promotes good source
of raw materials
 INDUSTRIAL PRODUCTS
3. Industrial or operating supplies are
inexpensive convenience goods which
are rapidly consumed and are necessary
for the day to day operation of the firm.
They do not become part of the finished
product
 INDUSTRIAL PRODUCTS
4. Component materials are the semi-
manufactured goods which undergo
further changes and form and later to
be a part of the finished product. The
quality of this material strengthen the
credibility of the product to the public.
 INDUSTRIAL PRODUCTS
5. Installations are very expensive materials,
non-portable goods which are used in the
production process and do not become part
of the finished product. They last for many
years and do not change in form. They
involve a high degree of consumer decision
making
 INDUSTRIAL PRODUCTS
6. Fabricated parts are finished
products of other companies which
form part of the manufactured
product without further changes in
form, but given added features to
make a new product.
NEW PRODUCT DEV’T PROCESS
• Internal- looks at company’s
objectives and resources
• External- looks at the customers’
needs and wants
 FEATURES
1. Design- can improve the
marketability of the product
through its design and appearance.
 FEATURES
2. Product Colors- customer’s
rejection or acceptance of the
product. The possibility differential
advantage comes in knowing the
right color combination that will
appeal to customers
 FEATURES
3. Product Quality- set of features
and attributes of a product/ service
that determine its ability to satisfy
human needs
 FEATURES
4. Product Warrantees- It is the
state where the buyer is assured that
the product meets the specifications
stated in the product labels.
 POST-
ACTIVITY
Determine the common
barriers to entry that you
may experience in operating
your business