Module 1

Entrepreneurship
- refers to the concept of developing and managing a business venture in order to gain
profit by taking several risks in the corporate world.
- Simply put, entrepreneurship is the willingness to start a new business.
- Entrepreneurship has played a vital role in the economic development of the expanding
global marketplace.
- Entrepreneur is someone who is willing to work for himself and by himself. There are
several different meanings of the term entrepreneurship.

OVERVIEW OF DIFFERENT DATA COLLECTION TECHNIQUES

Technique Key Facts Example

1. Interview ✔ This can be done through personal One-on-one

interviews. interview or
✔ Can be done through phone calls. conversation
✔ Quantitative in nature.
✔ Questions are clear and encourage
open-ended responses.

2. Questionnaires ✔ Responses can be interpreted with Customer

and Surveys quantitative methods by assigning numerical satisfaction
values. surveys
✔ Results are easier to analyze.

3. Observation ✔ It allows the study of the dynamics of a Classroom

situation, including the frequencies and other observation
behaviors written in the observation material.
✔ Can produce quantitative and qualitative
data.

4. Focus Groups ✔ This is a group interview with individuals with Group interviews
Commonalities.
✔ It gathers combined information of a group.

5. Documents and ✔ It examines existing data. Absences report

Records ✔ It can be an inexpensive way to gather
information but may provide incomplete data.
Module 2

After gathering data to identify business opportunities, you will analyze whether a product has a
potential market.

Product
- Is a tangible commodity or an intangible service that a business offers.
- Products can be classified as consumer goods or industrial goods.

Consumer Goods - are the product intended for final consumption of consumers which can be
further classified into 4 types;
Convenience products, Shopping products, Speciality products, Unsought products

TYPES OF CONSUMER PRODUCTS

Marketing Convenience Shopping Speciality Unsought

Consideration

Consumer • Frequent • Less frequent • Strong brand • Little product

buying purchase purchase preference and awareness and
behavior • little effort in cmuch effort in loyalty knowledge or
comparison of comparison of • little effort in little interest
brands brands comparison of
• low customer brands
involvement

Price Lower price Higher price High price Varies

Distribution • Wide spread • Selective • Exclusive Varies

distribution distribution distribution in
• Convenient • Fewer outlets only one or few
locations outlets

Promotion Mass promotion Advertising and More carefully Aggressive

personal selling targeted advertising and
promotion personal selling

Example • Laundry • Clothing • Luxury goods • Insurance

detergent • Furniture • Rolex Watch • Cemetery plots
• Toothpaste • Lv
Industrial Products (goods) - are those used for the production of other goods.

Classification of Products Description

Installations - have long life, expensive, and they

installations form
- major capital equipment of an industrial
firms

Example: buildings, generators and elevators

Accessory equipment - products used as aids in the production

process
- have shorter usable life than installations

Raw materials - are unprocessed goods

- can be classified as farm products
(tomatoes, eggplant, coconut)
- can also be classified as natural products
(lumber, gold, oil)

Component parts and materials - industrial goods that will be used and
become actual part of the finished products
- Example is paper (which you can transform
into magazine)

Supplies - items that used as aids in the operating

process, but do not become part of the
finished products
- such as paper clips, ink and fasteners

Services - inexpensive items that assist in the

operations
- such as maintenance and security services

Module 4 & 5

Demand
- An economic principle that describes a customer’s desire and willingness to pay a price
for a specific good or service.
Market acceptance
- A condition in which your good satisfies the needs of your target market to continue or
increase its production

To determine your products demand and market acceptability follow this steps:
• Identify your target market
TARGET MARKET is the person or business whom you want to sell your products or
services and whom you want to direct your marketing efforts
• Identify the population
POPULATION is the entire pool from which a statistical sample is drawn
• Identify the sample
SAMPLE is a subset containing the characteristics of a larger population. Sample is
used when the population is too large to observe.

To help you identify your target market, below are the guide questions that you can
consider:
Are your products and/or services intended for specific gender?
What is the range of the age of your prospect customers whom you want to sell your product?
Where do they live?
What do they do for a living?
How much money do they make?

SAMPLING TECHNIQUES
Purposive sampling, otherwise known as judgment. selective, or subjective sampling, is a
form of non-probability sampling in which researchers rely on their own judgment when
choosing members of the population to participate in their surveys.
Selective or Subjective sampling, is a non probability sampling technique in which a
researcher subjectively chooses its sample size that will participate in his/her study.

This kind of sampling technique is used when a researcher wanted to have a sample quickly.
Also proportionality is now a concern of the researcher.

Module 6

Presentation
- is the process of organizing data into logical, sequential and meaningful categories and
classifications to make them amenable to study and interpretation.

Here are the ways to present data:

1. Textual- statements with numerals or numbers that serve as supplements to tabular

presentation.

2. Tabular - a systematic arrangement of related ideas in which classes of numerical facts or

data are given each row and their subclasses are given each a column in order to present the
relationships of the sets or numerical facts or data in a definite, compact and understandable
form.
 2 general rules regarding the independence of tables and text:

• The table should be so constructed that it enables the reader to comprehend

the data presented without referring to the text
• The text should be so written that it allows the reader to understand the
argument presented without referring to the table. (Campbell, Ballou and Slade,
1990)

3. Graphical - a chart representing the quantitative variations or changes of variables in pictorial

or diagrammatic form.
The types of graphs that can be used are:
1. Bar graphs
2. Linear graphs
3.Pie graphs
4. Pictograms

Interpretation
- answers the question, "So what?" in relation to the results of the study. What do the
results of the study mean? This part is, perhaps, the most critical aspect of the research report.