SS 113- THE ENTREPRENEURIAL MIND

I.

Describe the image below, relate your discussion on how businesses identify and meet
their market needs. Discuss the (a) product description (b) target market (c)
demographics (d) pricing and promo (e) marketing strategy and (f) overall review.
60 points
 The business positions itself as a burger shop that caters to customers who are
in different relationship stages in life. By using the terms “laon,” “love,” “kirida,” and
“meet” they are able to personify or give human qualities to the products which help
customers connect better to them. Setting the price range from Php 35 to Php 69, the
business targets customers from low to middle income bracket. Their target customers
are also characterized as in love, looking for love, in a complicated relationship with
their lovers and those who are tired of all of the romantic drama.
 The product description also justifies why a certain segment of customer will
purchase it. For example, the Laon Burger sells itself by saying “you don’t need a
partner to be happy.” Thus, customers who don’t want to look for love will feel that it is
okay to not have a partner. All they need to do is to purchase the Laon Burger that uses
ingredients that will surely reinvigorate them thus making them happier and celebrate
peace and freedom everywhere.

The same goes with the Love Burger. The Love Burger is the “all-time burger
meal for long lasting couples.” It also answers the standard couple question: “saan tayo
kakain.” Additionally, by acknowledging that couples need stability, they position
themselves as a burger whose taste will never go out of style – what else, but the
classic cheeseburger.

Meanwhile, the Kirida Burger is for those who love to explore and adventure.
With its extra side dishes, this burger is specifically for those who want to have more in
life. The Kirida Burger does not settle for less. It does not cut itself short. Only those
who truly understand the excessiveness of the Kirida Burger will resonate with it.

Regardless of whether you are laon, in-love or a kirida, there will always be
something or someone you will meet that will change your life. The business is literally
saying, “don’t worry, we got you.” It is them telling you that their meatballs are the one
that will open a new chapter in your life.

Overall, their marketing strategy relies on the relationship trend. Instead of

playing safe, they create a noise by putting “laon” and “kirida” in the market where the
rest of their competitors would probably frown upon it. Although I would say that they
are not normalizing it, I think that business used this opportunity to ride the waves of
this pop culture narrative. Because it is simple, witty, unique and relatable, it is easier
for the business to create brand recall thus opening more marketing and revenue
opportunities.

II. Look at the picture below, a sincere message of an employer to his/her customers.
Agree or

Disagree? Justify your answer.

 I agree with the statement. The importance of a customer can never be
understated. As someone who will soon be working in the service sector, we are in
great debt to our customers because they gave us the chance to add hope, solve
problems and bring change in the place where we are at. Aside from these, customers
also allow us to keep doing what we do by continually doing business with us. It could
have been anyone else, but they still chose us.

It is not them who needs us but it is the other way around. We are dependent
on our customers because they are the ones shelling out resources that keep the
business running. When we treat them right, customers will be more likely to pay a
premium to those who provide better service. The better the service is, the more likely
a first-time customer will be retained. This is very crucial because business research
proves that customer retention is more cost-effective than customer acquisition.
 The customer is also not an outsider to the business because their overall
satisfaction is an essential metric in the long run. They are part of the process in
acquiring a customer lifetime value. The customer lifetime value is the total sales
projected to a single customer. A positive customer lifetime value means that they
spend money frequently on your business. Therefore, they are giving us the opportunity
to stay longer in the market.

As people in the service sector, we are not doing them a favor by serving them.
It doesn’t matter how we think of our brand, but rather how the customer perceives it.
It is important to keep this positive perception because they will associate your business
with good emotions such as comfort, duty-heavy and warmth. This customer service
will then create more marketing opportunities because they will recommend your
business to their friends too. It will also protect the relationship you have with existing
customers who experience a mistake from your end.