TAGUM CITY COLLEGE OF SCIENCE AND TECHNOLOGY FOUNDATION INC.

Elpidio M. Gazmen Compound, Gazmen Road, Tagum City

SEC. Reg. No. 200630691 / Tel. No. 216-6824
E-mail Address: tcit2007@yahoo.com

Supplementary Learning
Materials for
Senior High School

Grade Levels: Grade 11

Core Subject: Entrepreneurship
Semester: 1stSem

LEARNING COMPETENCY:
(Analyze the market need – TLE_ICTAN11/12PC-1a-1)

Week 3

Jenyl E. Bagunas
09067296360

1
 IDENTIFY YOUR MARKET

Entrepreneur with exciting new ideas are sometimes so focused on their

products or services that they forget about the customer. Coming up with a good
idea for a business is not enough to guarantee success. Customers are the
people or organizations who buy the products and services that companies offer.
Before establishing your new enterprise, you will have to determine who your
primary customers are and whether these customers are willing to buy your
product or service.
In this module you will learn about:
1. The target market by analyzing the needs of customers; and
2. The customers in terms of target market.

At the end of the module, you will be able to:

1. Identify the target market by analyzing the needs of customers;
2. Determine who the customers are, in terms of target market; and
3. Evaluate the target market within your community.

2
Directions: Write the letter of the correct answer on your notebook.
1. Economists make no distinctions between a want and a need.
a. True b. False

2. The following are examples of peoples’ basic needs, except.

a. Recreation c. Shelter
b. Clothing d. Food

3. Which of the following should be considered first by a prospective

entrepreneur in choosing the right location of his/her store?
a. Type of merchandise
b. The access of the target customers
c. The attractiveness of the store layout
d. The prevailing prices of goods in the area

4. Elvie evaluates the population in his immediate community. He is doing

this to ?
a. Identify his would-be-“suki”
b. Predict his biggest buyer
c. Select his favorite customers
d. Determine whom to sell his product/service

5. Entrepreneurs try to .
a. Identify the needs of the market place
b. Meet the needs of the marketplace.
c. Make a profit
d. All of the above
6. The customers you would most like to attract are referred to as your
.
a. Competition c. market segments
b. Target market d. demographics

7. Entrepreneur estimate demand for their products or services by identifying

their target market.
a. True b. False

8. Which of the following would most likely be the target market for a car
dealer selling moderately priced minivans?
a. Single people with higher incomes
b. People who are retired
c. Middle-class families with children
d. None of these

3
 9. A target market can be described as the .
a. Direction the market is headed
b. Way a business draws its customers
c. Group of customers the business to attract
d. Sample of the market
10. To buy a product, customers in a market must first
a. Be willing to buy the product
b. Learn the products features
c. Locate the product in a store
d. Make sure the product is on sale

Task 1
Direction: Find any kinds of products in home or in your community.
Identify who are the target market/consumers that avail this
products/services.

Generic Name of Product Target Customers

Example: Rice Household/Families

Task 2
Find a successful entrepreneur/practitioner. Conduct an interview using the
questions listed below.

1. How did you identify your customers?

_____________________________

4
 2. What were your considerations in selecting your customers?

_____________________________

3. Explain how your product/services are unique to the other product/s.

_____________________________

People who aspire to start a business need to explore the economic,

cultural, and social conditions prevailing in their area. Needs and wants of the
people in a certain area that are not met may be considered as business
opportunities .Identifying the needs of the community, its resources, available
raw materials, skills, and appropriate technology can help a new entrepreneur in
seizing a business opportunity.
Six Steps in Defining your Target Market
These are the six steps in defining the target market according to Jakub Jirsak.
1. Understand the problems that you solve
The starting point in defining the target market for your proposition is
to understand the problems that you want to solve. Once you have
obtained sufficient ideas on what these are, you can start to work out on
who is most likely to suffer from these problems.

2. Paint a picture of the customer

Start to list all the different types of customers that suffer from the
problems you want to solve. Once done, you can start to build up a picture
of these customers. Group them by market sector whether they are
retailers, wholesalers or manufacturers.

3. Who will gain from the value in your offer?

If you can demonstrate that the cost of NOT sorting out the problems
is GREATER than the cost dealing with them, then your case becomes
compelling.
Remember to take into account aspects like emotional upheaval,
stress and the risk to reputation when implementing your solution, as well

5
 as a bottom line cost. It is all these factors that make up the value in your
offering.

4. Think about your market

Today, we live in the world of niche. For example, we are no longer
prisoners of television schedules. We can watch what we want at our own
convenience from almost anywhere in the world; meaning, every person
can enjoy a unique viewing experience.
The web is fantastic at delivering personalized products and
services, cutting out many of the distribution challenges that previously
existed.
It will be easier to build your reputation and gain referrals. You will
also find out that you get more from your marketing endeavors.
Therefore, with the previous knowledge gained, start to segment
your market. Do you want to work:
 with particular types of people – farmers, banana growers,
beauticians market vendors?
 in a certain geographical locations - High lands (ComVal
area),Low lands (Panabo or Carmen in Davao del Norte)?

5. Look internally at your company

One way to decide on the right market to pursue is to think about
your company and your business..
 Do you have particular areas of expertise like working in specific
markets such as banana production?
 Do you have unique knowledge of a specific geographical area?
 Are you better at getting on with certain types of people?

6. What else is available?

Once you have decided the answers to the preceding questions, you
must look at the market to see what else are available. The question you
must answer is:
 Why am I uniquely placed to solve the problem?
It may be that for some marketplaces there is no answer. However,in
certain sectors or geographical locations there may be a compelling
response to that question. If you are unable to answer the question,
you may either have the wrong target market or the wrong offering.
In this case,more work needs to be done before you start targeting
your potential customers.

6
Task 3
Direction: List at least 5 businesses which interest you and find out who
are your possible customers.

Business Idea Possible Customers/Target Market

1.

2.

3.

4.

5.

I have learned that

________________________________________________________________

7
________________________________________________________________
__________________________________________________________

I have realized that

________________________________________________________________
________________________________________________________________
__________________________________________________________

I will apply
__
__
____________

Glossary
GLOSSARY

The following terms used in this module are defined as follows:

Terms Definitions as used in the lesson

Existing customers People who have already purchased the

product.

Prospects People who have not yet purchased the

product but are considering it.

Target Market Users People in the target market who are not
currently looking for a solution.

References

De Guzman, Angeles A. ENTREPRENEURSHIP (FOR SENIOR HIGH SCHOOL,APPLIED

SUBJECT, ABM STRAND)Quezon City, 2018

Greene, Cynthia L. ENTREPRENEURSHIP (PHILIPPINE EDITION) Taguig City, Cengage

Learning Asia Pte Ltd (Philippine Branch), 2016

8
WEEK 3

Answer Key

Try This!
1. B. 6.B.
2. A. 7.A.
3. B. 8.C.
4. D. 9.C.
5. D. 10.A.