GUMABAY, JOMARI R.

BIT 4E-FSM
PROF. JAMES REY M. APONTE
ENTREP 42

CONCEPT NOTE NO. 3

The chapter 7 mainly talks about “Describing Various Pricing Strategies” the presenter
defines it word by word to carefully enumerate the difference where according to them pricing
is a decision to process before displaying a goods or services. While pricing strategies for them
it is a company method that determines the rates charged to sell products and services. There
are various strategies in pricing that need to consider first the cost-plus which is a fixed
percentage in pricing technique also known as markup. Next competitor-based it is a pricing
based on the competitors prices on their services. Value based customers value what you
provide and adjust your prices accordingly. Another pricing strategy is loss leader; it is defined
as discounted items on a business. The penetration pricing gives much lower prices on their
products and services. The group presented a total of 12 pricing strategies and some of it is
mentioned above.

It is entitled “Smart Selling and Effective Customer Service” that group 8 have
presented. According to their report it is a combination of strategy and technique in customer
centric approach that builds long relationships towards clients and customers. Smart selling is a
strategy to analyze sales production. They’ve provided selling techniques for the business to
have an idea how they will promote their products these are: know the product first, next
understand the customer, build relationship, listen actively to customers needs and wants,
provide solutions on the concerns, highlight value, handle objections gracefully to build
confidence and follow-up for satisfaction and quality customer in need. For them a good
customer service manifests having empathy always, being responsive, effective communication,
consistent in solving problems or concerns and a continuous improvement that is open for
suggestions and recommendations.

For the group 9 which tackled chapter 9 about “Checking Different Types of Cost in
Starting a Business” they've enumerated some key points under their topic, research expense
is one of them, according to them it provides cost in the marketability of the business. Other
than that is borrowing cost in raising funds covered financing from initial to final expenses.
License and permit fees as a business it is mandatory to register on authorized government for
license of the business. Equipment and supplies for production purposes, marketing in
advertising promotions. The payroll and benefits for the employees rights in receiving salaries,
wages and compensation. Other than that are insurance, utilities and inventory.