ENTREPRENEURSHIP – GRADE 11 & 12

Alternative Delivery Mode

Quarter 1/3 – Learning Activity Sheets for Week 6

Learning Competency: Select the best product or service that will meet the market need,
TLE_ICTAN11/12PC-Ia-1

At the end of the lesson, you are expected to:

 Select the best product or service that will meet the market need
 Describe your chosen business proposal
 Formulate the vision and mission of your chosen proposal
 Enumerate your business goals based on your vision and mission

LESSON 1: BUSINESS NAME

What is it?

Tips in Choosing the Business Name:

1. Easy to Recall or Remember – the business name must be understandable so it is easily

stored in the memory.
2. Pleasant Meaning Creates Pleasant Feelings – it produces positive or favourable feeling upon
saying or mentoring to the public.
3. Easy to Pronounce – the business name must be cited as freely as it can be.
4. Easy to Spell – the business name must be simple. Words that are used in everyday
communication will be an advantage.
5. Related to the Product - the business name must describe the product. It represents the
features of the product.

Product Life Cycle – describes a product’s sales, profits, customers, competitors, and
marketing emphasis from its beginning until it is removed from the market.
Stages of Product Life Cycle:

I. Product Development – the company must think of a new product. A new product is a
modification, creation, and innovation of an existing product which makes the product
more meaningful to the customer. The new Product planning process involves a series of
steps:
1. Idea Generation – searching and looking for new product or business opportunities.
Methods:
 Brainstorming – sharing ideas, comments, and suggestions.
 Analyzing Existing Products – a successful product that captures great market
can be analyzed as a basis in creating a new product.
 Reading Trade Publications – an inspirational story of a successful
entrepreneur can lead into a development of a new product.
 Visiting Suppliers’ Facilities – suppliers’ raw materials can be used as method
to innovate and modify existing product.
 Surveys – getting feedback coming from the customer and potential market.
2. Idea Screening – scrutinize ideas for great business opportunities.
3. Concept Testing – ideas which have passed the screening stage will now require
feedback from the customer.
4. Business Analysis – a review of market factors, revenues, cost and trends.
 Demand Projections – sales potential, sales growth.
 Cost Projections – raw materials cost, per unit cost.
 Competition – strengths and weaknesses of competitors
 Required Investment – engineering, patent search, production
 Profitability – return on investment
5. Product Development – ideas are converted into tangible form this stage involves:
Product Construction, Packaging, Branding, Product Positioning, and
Consumer Attitude and usage testing.
6. Test Marketing – involves a selling of a fully developed product in a selected city and
observing the actual or on the spot performance under the chosen marketing plan.
7. Commercialization - involves the actual marketing of the product in the target market.
II. Introduction – this is to introduce the product to the marketplace and the objective is to
generate customer’s interest.
III. Growth – this is where the product gains wider consumer acceptance and the objectives
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 are to expand distribution and the range of available product alternatives.
IV. Maturity – the product’s sales level and companies try to maintain lower price, better
product features for as long as possible.
V. Decline – the product’s sales falls as substitutes and new competitors enter the market.

What’s more?

Directions. Think a business name and product or service that you think can meet the market
need in your locality. Write your answer in one whole sheet of paper.

Business Name:
Business Product/Service:

LESSON 2: BUSINESS DESCRIPTION

What is it?

NOTE: REFER TO THE CONCEPT NOTES IN LESSON 1

What’s more?

Directions. Based on the chosen business and product. In 3 to 5 sentences, write a brief business
description on how it will meet the market need in your locality. Write your answer in one whole
sheet of paper.

Business Description:

LESSON 3: BUSINESS VISION AND MISSION

What is it?

NOTE: REFER TO THE CONCEPT NOTES IN LESSON 1

What’s more?

Directions. Formulate the vision and mission of your business considering the market need in your
locality. Write your answer in one whole sheet of paper.

Business Vision:
Business Mission:

LESSON 4: BUSINESS GOALS

What is it?

NOTE: REFER TO THE CONCEPT NOTES IN LESSON 1

What’s more?

Directions. Based on your business vision and mission, enumerate your business goals to meet the
market need in your locality. Write your answer in one whole sheet of paper.

Business Goals:

ASSESSMENT
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Directions: Read each item carefully and write the letter of your choice on your answer sheet. Write
your answers in one whole sheet of paper.

1. This describes a product’s sales, profits, customers, competitors, and marketing emphasis
from its beginning until it is removed from the market.
A. Product life cycle C. Test Marketing
B. Product development D. Demand Projections
2. This refers to searching and looking for new product or business opportunities.
A. Idea Generation C. Reading Trade Publications
B. Brainstorming D. Visiting Suppliers’ Facilities
3. This refers to sharing ideas, comments, and suggestions to arrive a best decision.
A. Reading Trade Publications C. Brainstorming
B. Visiting Suppliers’ Facilities D. Idea Generation
4. This is to scrutinize ideas for great business opportunities.
A. Idea Screening C. Cost Projections
B. Demand Projections D. Required Investment
5. This refers to the product life cycle where the product is introduced to the marketplace and
the objective is to generate customer’s interest.
A. Introduction C. Maturity
B. Growth D. Decline
6. This refers to the product life cycle where the product gains wider consumer acceptance and
the objectives are to expand distribution and the range of available product alternatives.
A. Decline C. Growth
B. Introduction D. Maturity
7. This refers to the product life cycle where the product’s sales level and companies try to
maintain lower price, better product features for as long as possible.
A. Introduction C. Decline
B. Maturity D. Growth
8. This refers to the product life cycle where the product’s sales falls as substitutes and new
competitors enter the market.
A. Maturity C. Growth
B. Decline D. Introduction
9. This refers to the product development that involves a selling of a fully developed product in
a selected city and observing the actual or on the spot performance under the chosen
marketing plan.
A. Demand Projections C. Product development
B. Test Marketing D. Product Cycle
10. This refes to the idea generation where getting feedback coming from the customer and
potential market.
A. Survey C. Research
B. Interview D. Immersion

ANSWER SHEET Q3-W6

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 ENTREPRENEURSHIP

Name: ______________________________________ Gr. & Section: ________________ Score: ______________

Lesson 1

Directions. Think a business name and product or service that you think can meet the market
need in your locality. Write your answer in one whole sheet of paper.

Business Name: _______________________________________________________________________________

Business Product/Service: ___________________________________________________________________

________________________________________________________________________________________________ .

Lesson 2

Directions. Based on the chosen business and product. In 3 to 5 sentences, write a brief business
description on how it will meet the market need in your locality. Write your answer in one whole
sheet of paper.

Business Description:
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
________________________________________________________________________________________________ .

Lesson 3

Directions. Formulate the vision and mission of your business considering the market need in your
locality. Write your answer in one whole sheet of paper.

Business Vision:
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
______________________________________________________________________________________________ .

Business Mission:
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
______________________________________________________________________________________________ .

Lesson 4

Directions. Based on your business vision and mission, enumerate your business goals to meet the
market need in your locality. Write your answer in one whole sheet of paper.

Business Goals:
__________________________________________________________________________________________________
__________________________________________________________________________________________________
__________________________________________________________________________________________________
_______________________________________________________________________________________________ .

Assessment

1. 4. 7. 10.

2. 5. 8.

3. 6. 9.

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