TECHNOLOGICAL INSTITUTE OF THE PHILIPPINES

938 Aurora Blvd., Cubao Quezon City

TECH 101: INTRODUCTION TO ENGINEERING ENTREPRENEURSHIP

KEY TAKEAWAY 05

NAME: JAVILLO JR., Carlito S. LECTURE DATE: January 10, 2017

SECTION: IE32FA1 SESSION: TUESDAY - AM DATE SUBMITTED: January 17, 2017

The things I’ve learned are :

- Classifications of Businesses have different fields : Agriculture , Finance , Manufacturing ,

Information, Real Estate, Service Retailers and Distributors Transportation Utilities .
- Marketing is changing the beliefs in the minds of the customers. Marketing is the most critical
function in any organization.
- Market research is an essential process for every start–up, but many entrepreneurs do it too
late.
*Failing to search the market early on
*Assuming everyone will want your invention
*Sending your idea--and your money--to an Invention Promotion Company
*Sinking all your money into a patent
*Lacking business acumen
- Market is a group of potential customers—people or businesses—who are willing and able
to purchase a particular product or service.
- Market Research Methodology
*Understand the Need
*Validate the Solution
*Size the Market
*Who’s Customer
*Business Mode