Asuncion, Alwin C.

March 2, 2021
BSED-MATH 2A
GEC208 (29373)

ACTIVITY: BUSINESS 101: 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. Using the guided questionnaire below analyze
your prepared product/services to begin with.

1. What particular product do you think will be visible and be accepted by

consumer in the market today? Explain.

Answer: Face masks and alcohol for health reasons are the most visible and still
welcomed by consumers in this time of pandemic. such as the Corona virus. You
must be aware of the more basic needs, particularly in today's world.

2. In meeting the need of the customers, what specific activity plan will you do to
improve it?

Answer: To please your client or costumer, you must be open to any suggestions
or feedback that will assist you in enhancing your company and meeting consumer
standards. Set clear expectations for your support staff, be as open as possible,
build a customer-centric community, don't forget to gather feedback on a regular
basis, and finally, scope out your competitors.

3. How capable are you to produce the product?

Answer: Simply trust in your ability to think positively at all times; you are always
prepared for any risk that will arise in the business world, where you will face
many competitors and be expected to be powerful, smart, and quick to think in
times of crisis. You should never run out of ideas about how to improve your
customer experience and fulfill their needs.

4. What are your potential market?

Answer: As a businessperson, we must be aware of our ability to promote a

company, especially in this period of intense market competition. I am definable,
available, actionable, profitable, and have the opportunity to expand. In other
words, I am prepared for any constraints and am always confident about the
outcomes of my company, whether they are good or poor.

5. Enlist the different government permit you need to comply for you to open a
business. How will you comply with each of their requirements?
Answer: You will need to complement the following in order to start your
company, whether it is small or big. Registration with the Securities and Exchange
Commission (SEC), the Bureau of Internal Revenue (BIR), SSS, Philhealth, and
Pag-ibig (HDMF) (If you start a big business), Mayor's Permit, Barangay Approval,
and Building Permit, and lastly Sanitary Permit. These are just a few of the
Business permits that you must complete so that you can build a business with-out
breaking the law.

6. What barriers needed for you to overcome for a potential new product entry?

Answer: Going with large establishments to become a good businessman is not

easy for an inexperienced investor. Start with a minimum viable product and
iterate from there; the best way to grow your company is to respond to customer
reviews. Using a disruptive pricing model and set distinct targets. Produce high-
quality content and goods. This makes a product less price sensitive, allows you to
be more creative, and allows you to lease rather than purchase equipment and
store space to minimize fixed costs. Finally, use social media as a sales channel,
such as YouTube, Facebook, and Instagram. Know that you can lose money at
first and don't be afraid to take chances. Every problem has a solution, so face it
and trust yourself.