ENTREPRENEURSHIP

QUARTER 1– WEEK 4
MODULE 4: Products And Services That Will Meet The Need

MELC: Determine the possible product/s or service/s that will meet the need.

Prepared by: EMERENCIANA H. SALAPARE

SHS Teacher II
CONCEPTS OF PRODUCTS AND SERVICES
Product is anything tangible or intangible which in most cases a consumer is willing to pay
money for, and satisfies a consumer’s need and/or want (www.investopedia.com). There are
three Levels of Product: core product, actual product, and augmented product. Core Product is
not tangible physical product because this is the benefit of the product that is valuable to you.
Example is a car, the benefit is convenience like the ease at which you can go where you like,
when you want to. Actual Product is the tangible, physical product. You can get some use of it.
Example the car again, it is vehicle that you can test drive, buy and collect. You can touch it.
Augmented Product is the non-physical part of the product. Example when you buy a car, part
of it is the warranty. The features of augmented products can be converted in to benefits for
individuals. (www.marketingteacher.com)
Products that are marketed can be generally classified according to use, differentiation, type, and
durability. (So et al. 2016. Principles of Marketing DepEd-BLR)
According to Use: Consumer and Industrial Goods

⮚ Consumer goods that are purchased for personal consumption and/or for household use.
Examples of these are instant noodles, biscuits, milk, detergent soap, shampoo and other
similar items.
⮚ Industrial goods are purchased in order to make other goods, to serve as a raw material
or input in the production of other goods. Examples are aluminium, wires, electronic and
cables etc.

According to Differentiation: Undifferentiated and Differentiated Goods

⮚ Undifferentiated goods are products whose physical characteristics are so identical, that
it would be difficult to distinguish one purchased from one vendor or another. These
goods are sourced from nature like example rock salt.
⮚ Differentiated Goods are varied in their characteristics and features that make them
distinguishable from one another. Example the Toyota Fortuner is different from
Mitsubishi’s Montero Sport which they have different designs, headlights, body heights,
hoods, ground clearances, etc. The ability of manufacturers to successfully distinguish
their products from other competitors is called branding.

According to Type: Convenience, Shopping, Specialty, and Unsought Goods

⮚ Convenience goods are product that are purchased frequently, are usually inexpensive,
and do not require much purchase effort and evaluation. Examples: newspapers, gum, and
candy.
 ⮚ Shopping goods are purchased less frequently than convenience goods, are relatively
more expensive, require some amount of information search and evaluation prior to
purchase. Examples are shoes, clothes, and handbags.
⮚ Specialty goods are goods that require an unusually large effort on the part of consumers
to acquire. Examples are branded luzury, work of art, automobiles, and homes.
⮚ Unsought goods are goods that consumers seldom actively look for, and are usually
purchased for extraordinary reasons. Examples are investments, memorial plans, and life
insurance.

According to Durability: Consumable, Semi-Durable, and Durable Goods

⮚ Consumable is a product whose benefit can only be used by a consumer for a short
period of time, sometimes only a few minutes or may last a few days. Examples are soap,
perfume, lotion, etc.
⮚ Semi-consumables provide benefits to the consumer for a longer period of time, usually
spanning several months. Examples are clothes, shoes, belts, jackets, etc.
⮚ Durables are products that are manufactured to last a long time.
Service product is an intangible item, which arises from the output of one or more individuals.
There are four major attributes of service product. (So,et al,2016. Principles of Marketing
DepEd-BLR)
⮚ Intangibility examples services of a lawyers, doctors, accountants, etc.
⮚ Variability because services are performed by human being and it could be done in every
single time.
⮚ Inseparability services are rendered and consumed simultaneously.
⮚ Perishability unconsumed services cannot be stored or warehoused.

DEVELOPMENTAL ACTIVITIES
Activity 1: Guessing Game! Name the Levels and Classifications of a Product!

Direction: Place the letter of the correct answer on the line next to each number in Column A.
Column A Column B
___1. A product that gives longer period of
time of benefits. a. Specialty goods
___2. These products are manufactured to
last longer of time. b. Semi-consumables
___3. Goods that are usually purchased for
extraordinary reasons. c. Undifferentiated goods
___4. Goods that does not require much
purchase effort. d. Augmented product
___5. These foods are varied in their
characteristics and features that make them
distinguishable. e. Consumable
___6. Goods that are purchased in order to
make other goods. f. Industrial goods
___7. It is non-physical part of the product. g. Durables
___8. Goods that require an unusually large
effort on the part of consumers to acquire. h. Unsought goods
___9. Goods can only be used by a consumer
for a short period of time. i. Differentiated goods
___10. Products whose physical
characteristics are so identical. j. Convenience goods

Activity 2: Compare and Contrast

Direction: Using the venn diagram below compare and contrast “Product and Service”.

IDENTIFYING CUSTOMER NEEDS

To identify needs, you must both listen and ask the right questions. After identifying needs,
always check for additional or related needs. Use your knowledge and experience to identify and
present the right products, services, and solution to meet your customer’s needs.

Why “identifying customer’s needs” matters (www.simplifyingtraining.com)

Before promoting your business venture the first thing you must do is to identify first your
customer’s want and why. Below are the reasons why identifying customer’s needs matters
most.

1. Correctly identifying customer’s needs is essential for ensuring customer satisfaction and
loyalty.
2. Customers have unique needs.
3. Identifying customer’s needs allows representatives to cross-sell related products or
services.
4. Often, customers either aren’t clear about what they need or they don’t really know what
they want.
 5. Identifying client’s needs creates satisfied customers, and satisfied customers are less
likely to have reason to enter into disputes with your organization or contemplate legal
action

Key Points

1. To ensure customer satisfaction, you must correctly identify customer’s needs.

2. To identify needs, you must both listen and ask the right questions.
3. After identifying needs, always check for additional or related needs.
4. Use your knowledge and experience to identify and present the right products, services,
and solutions to meet your customers’ needs.

Four-step procedure to meet the needs of customers

1. Identify what your customers need from you through keyword research, focus groups, or
social listening.
2. Distribute the information to relevant stakeholders in your organization.
3. Craft product features or create content that speaks to your customer’s needs.
4. Collect customer feedback on how your efforts meet their expectations.

WORKSHEETS

Directions: Read and understand the question below. Write your answer on the space provided.
Your work will be evaluated using rubric.

1. Why identifying customer’s need matter most? And how you are going to do it?

______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Classify Me!

Directions: Specify the proper level or classification of the items listed below. Write only the
letters of the correct answer before each number and refer to the following levels or
classifications below:

a. Core Product
b. Actual Product
c. Augmented Product
d. Consumer Good
e. Industrial Good
f. Convenience Good
g. Shopping good
h. Specialty Good
i. Consumable Good
j. Durable Good
k. Semi-durable Good
l. Differentiated Good
m. Undifferentiated Good
n. Unsought Good

____1. Benefit ____ 6. Cable ____11. Automobile

____2. Colour ____7. Wire ____12. Home

____3. Brand ____8. Newspaper ____13. Perfume

____4. Warranty ____9. Shoes ____14. Lotion

____5. Soap ____10.Clothing ____15. Table

Enumerate Me!

Directions: Give the following being asked.

1. Give 5 reasons why identifying 1.

customer’s needs matter most. 2.
3.
4.
5.
2. Give 4 key points in identifying 1.
customer’s needs. 2.
3.
4.
3. Give 4 step procedure to meet the 1.
needs of customers 2.
3.
4.
KEY ANSWER
DEVELOPMENTAL ACTIVITIES
Guessing Game! Name the Levels and Classifications of a Product!
1. B
2. G
3. H
4. J
5. I
6. F
7. D
 8. A
9. E
10. C

Activity 3: Compare and Contrast

WORKSHEETS

We are all aware that each of us has a unique needs, so it is important to identify customer needs
to ensure their satisfaction and loyalty to the product/service we offered to them. As what I have
learned from this module, there are four steps on how to identify our customer needs. First, know
what our customers need by conducting a research, and interview. Second, distribute or give the
result of the research or interview to relevant stakeholders in our organization. Third, in the
product/service we are offering it should be indicated the features and see to it that it speaks the
customer’s needs. Lastly, continue collecting customer feedback regarding our product/service so
that we can continue meet the expectations of our customers which is to meet their needs.

Part 1. Classify Me!

1. A
2. B
3. B
4. C
5. D
6. E
7. E
8. F
9. G
10. G
11. H
12. H
13. I
14. I
15. J

Part 2: Enumerate Me!

Directions: Give what is being asked.

1. Give 5 reasons why identifying 1.Correctly identifying customer’s needs is

customer’s needs matter most.
essential for ensuring customer satisfaction
and loyalty.
2.Customers have unique needs.
3.Identifying customer’s needs allows
representatives to cross-sell related products
or services.
4.Often, customers either aren’t clear about
what they need or they don’t really know
what they want.
5.Identifying client’s needs creates satisfied
customers, and satisfied customers are less
likely to have reason to enter into disputes
with your organization or contemplate legal
action
 2. Give 4 key points in identifying 1.To ensure customer satisfaction, you must
customer’s needs. correctly identify customer’s needs.
2.To identify needs, you must both listen and
ask the right questions.
3.After identifying needs, always check for
additional or related needs.
4.Use your knowledge and experience to
identify and present the right products,
services, and solutions to meet your
customers’ needs.
3. Give 4 step procedure to meet the 1.Identify what your customers need from you
needs of customers through keyword research, focus groups, or
social listening.
2.Distribute the information to relevant
stakeholders in your organization.
3.Craft product features or create content that
speaks to your customer’s needs.
4.Collect customer feedback on how your
efforts meet their expectations.

References:
A. Book
So et al. 2016. Principles of Marketing, DepED-BLR

B. Online and Other Sources

https://www.investopedia.com
https://www.bxtvisuals.com
https:///www.marketingteacher,com
https://corporatefinanceinstitute.com