Republic of the Philippines

MARINDUQUE STATE COLLEGE

DEPARTMENT OF INDUSTRIAL TECHNOLOGY
P Manguera Sr. Rd., Tanza, Boac, Marinduque 4900

Bachelor of Science in Industrial Technology (BSIT)

Level III Re-Accredited by the Accrediting Agency for Chartered Colleges Universities in the Philippines (AACCUP), Inc.

Week 4 – Activity/Quiz

Prepared by:

Geomarc M. Llasos
Faculty, Department of Industrial Technology
School Goals: “Produce highly skilled Industrial Technologists trained in their respective discipline socially responsible for
the innovative state of the art technology and be globally competitive.”
 Republic of the Philippines
MARINDUQUE STATE COLLEGE
DEPARTMENT OF INDUSTRIAL TECHNOLOGY
P Manguera Sr. Rd., Tanza, Boac, Marinduque 4900

Bachelor of Science in Industrial Technology (BSIT)

Level III Re-Accredited by the Accrediting Agency for Chartered Colleges Universities in the Philippines (AACCUP), Inc.

I. Reflection paper
Make a reflection paper in the saying: 30 points, 300 words minimum.

A. Business start from ideas, but not ideas alone does not make a business.

Based on my understanding, business starts with ideas, but not only ideas can lead to
a business. We must always remember that in a business, we must also do some
planning, not only thinking of ideas, we must also carry out the ideas that come to our
mind. It seems that it is not just an idea that helps to have a business, of course once
we have an idea for a business, the next thing is the name of the business, next is the
validation of the ideas for the business to be built. Next, is the business plan-
everyone who does business makes their own business plan, next is the finances- we
need money for the expenses for the business- we don’t a business that doesn’t issue
money, and many others. In short, we can’t build a business if we only have ideas in
our minds. Instead put into reality with the guide on how to start the business step by
step.

B. Customers do not buy ideas, they buy products and services

It says there that consumers are only buying products and services not the ideas of
people behind those product and services. Because people buy goods and services to
satisfy their individual needs and wants. In other words, people buy the benefits that
goods and services offer- benefits that fulfill their needs and wants, not the ideas
instead. Keep in mind that the benefits are not the same as features.

C. Customer pay the price; value is what they get

It says there that they pay the price, but at the end of the day what they get is the
value as a customer. We always remember that creating a value for customer’s means
providing useful products and services that customers consider worthy of their time,
energy and money. For customers to find value in a product or services, its perceived
benefits need to outweigh its cost. Benefits and cost are the two key components of
customer value.

School Goals: “Produce highly skilled Industrial Technologists trained in their respective discipline socially responsible for
the innovative state of the art technology and be globally competitive.”