QUARTER 4 WEEK 1

TECHNOLOGY AND LIVELIHOOD EDUCATION 6

ICT and Entrepreneurship
Entrepreneur is someone who is willing to put up the capital needed to set up a business fully aware of the risks involved.
He or she plans, organizes, and manages the business, hires the people to help run it, and ensures that the product or
service being offered is sold at a reasonable price in order to learn.

FAMOUS SUCCESSFUL FILIPINO ENTREPRENEURS

1. SOCORRO C. RAMOS ( NATIONAL BOOKSTORE INC.)started working as a salesgirl when she was 18 yrs. old in
Goodwill Bookstore in Escolta. She was good in selling, that’s why she became in charge of the store. When she was
married to Jose Ramos, they put up National Book Store. Her vision was to extend the National Book Store not only
in Luzon but also in Visayas and Mindanao for cheaper access to books and school supplies.
2. TONY TAN CAKTIONG( Jollibee )was formerly selling Magnolia Ice Cream, then it was recognized as selling chicken
and burger. Tony Tan Caktiong, the president and CEO of Jollibee, is a name to remember, not only here in the
Philippines but also in other parts of the world, like USA, Hongkong, China, Indonesia, and Japan.
3. LUCIO TAN( PHILIPPINE AIRLINES) story was from rags to riches tale. Before working in the tobacco industry, his
business was then a scrap. His dream was to become a scientist but his fortune was bound for him to become an
entrepreneur.
A business involves selling a product or service or both.
A product is something that is manufactured following a process, in order to be sold for a profit.
A service is a facility supplying a public or market needed or demand. Some examples are hair salons offering hair care and
hair styling services; bus companies, offering transport services; and spas and wellness centers offering massage services,
skin care treatments, and the like.
There are two people or parties involved in business transaction such as selling and buying, the seller and the buyer.
1. The Seller
- owns or manages a store or business establishment -
-offers goods, products, or services to those who need it
must learn the art of selling
- must maintain good relationships with people, patient, and courteous towards the prospective consumers or buyers.sells
products, goods, or services at a specified amount called selling price.
2. The Buyer
- buys goods or services from the seller -
is also a consumer who makes use of the goods to meet his/her needs or wants and those of his family
- also called the end user because they use the good or product or service in order to meet the needs and wants of
consumers and derive satisfaction from it.
The seller sells products, goods, or services at a specified amount called his selling price, while buyer is the person who buys
goods or services from the seller

What I Can Do
A. Write Agree on the line if the statement is correct and Disagree if thestatement is incorrect.
____1. Buyers are persons who agree to purchase finished product s or services.
____2. Sellers should not provide warranty for the products or services
____3. Sellers are persons who transfer goods and provide services inexchange for money.
____4. Sellers should make business fairly with buyers.
____ 5. To provide warranty to buyers is a right of the sellers.
B. Read the following statements below. Identify and write B if it refers to the Buyer and S if it’s Seller.
____1. Owns or manages a store or business establishment
____2. Also refers to a consumer who makes use of the goods to meet his/her needsor wants and those of his
family.
____3. Offers goods, products, or services to those who need it
____4. Sells products, goods, or services at a specified amount called selling price
_____5. Also called the end user because they use the goods or products or services that meet the needs and wants
and derive satisfaction from its use
_____6. A person who buys goods or services.
_____7. Someone who offers something for sale.
_____8. Must learn the art of offering.
_____9. Anybody who makes a purchase of products.
_____10. The person who buys goods or services in the market or store.

ASSESSMENT:

Match the words in column A with its meaning in column B. Write the letter of the correct answer before the
number.
A
____1. product
____2. service
____3. buyer
____4. demand
____5. Business
____ 6. Seller
____ 7. goods
____8. entrepreneur
____9. establishment
____10. profit
B
a. A person who starts a business and is willing to risk loss in order to make money.
b. This person owns or manages the store or business establishment and offers goods, products, or services to
those who need it.
c. It is the person who buys goods or services from the seller.
d. It is something that is manufactured following a process, or grown and nurtured in order to be sold for a profit.
e. It is a facility supplying a public or market demand.
f. Something you can buy and take home to use
g. A financial gain, especially the difference between the amount earned and the amount spent in buying,
operating, or producing something.
h. It is defined as an organization or enterprising entity engaged in commercial, industrial, or professional activities.
i. A consumer’s desire to purchase goods and services and willingness to pay a price for a specific good or service.
j. The activity of making, buying, or selling goods or providing services in exchange for money
 QUARTER 4 WEEK 2

Buying and Selling Products Based on Needs and Demand

Buying and Selling Process Buying Process
In order to effectively promote your product, you should first understand the buying decision process and later prepare for selling
strategies.
"A buying process is the series of steps that a consumer will take to make a purchasing decision." - Shawn Grimsley in Education

The Buying Process

 The buying decision process model starts with the recognition of needs and wants.
Purchase will not take place without first knowing what you need and want. A need is an
important product that you must acquire while a want is a product that you desire but is
not important.. A need is a necessity while a want is a luxury.
 Next to recognition of needs and wants is information search. Buyers search for the business environments
to look for the potential product choices. Information may come from print, radio, television, and online
advertising
 Evaluation of choices takes place after having different products/services to choose from. Here, the best
product/service is chosen based upon the needs and wants. The choice is said to be influenced by one's
attitude and of course the available budget
 Purchase decision step is where the actual purchasing takes place. However, this may be disrupted either
by negative feedback or by unanticipated circumstances. For example, you want to buy a cellphone in Store
A but one of your friends told you that Store A is selling cellphones that are not of good quality. So, your
decision to buy a cellphone at Store A will be disrupted.
 After purchasing, evaluation is the next step which would determine whether the buyer will make similar
purchases from the same seller in the future on the basis of being either satisfied or tude and of course the
available budget.
The Selling Process
● Prospecting and Qualifying. Research for your potential buyers aside from the people living near your
business area that might be willing and able to buy your product or service.
● Pre-approach. Familiarize the needs and relevant backgroundinformation of the qualified prospects.
● Approach. Make a small talk to the qualified prospects and build abusiness relationship.
● Presentation. Present your product/service focusing on the benefits rather than the features. Keep the
presentation interactive.
● Objection Handling. Treat objections or hesitations as opportunities to respond to customer's needs and
concerns.
● Closing. This is the step where the seller asks if the customer is willing to make a purchase. "If you do not
ask, then you don't get.(Sheldon Snodgrass)
● Following-up. Nurture the business relationship by following up. This ensures additional sales and
customer referrals. You maymake a calland say thank you or ask if they received the product in
good condition.
Needs are basic necessities of people such as food, clothing, and shelter. People cannot survive without
them. Nowadays, education and healthcare are part of the human needs. Garment products and real estate
productsare always patronized.
Wants are goods that people desire or wish to have. People can still liveeven without these products or
services. Electronic products andentertainment industry fall under this category.

Selling of Products Based on Needs and Demands in the Schooland the Community
● Demands are a step ahead of wants. It is the amount ofinterest to a given product that consumers are
willing to buy at a given price, at a given period.
Sellers could offer products in the school and the community based onexisting needs and demands.
Examples include the following:
1. Bottled water is one of the most in-demand products in school andcommunity that can provide a solution
to the need.
2. Used clothing commonly known as “ukay-ukay” business offersimported products and sometimes
overruns sold at lower price.
3. Street foods such as fish balls, “siomai”, and assorted“kakanin” can be sold the whole day and are offered
at a lower price.
4. Baked products such as pandesal, ensaymada, bread loaf, cakes, andother pastries are equally saleable.

ACTIVITY:
Among the products that are always in demand are food items.Identify which of the following is a need or
want:
____1. New shoes ___ __6. Bread
____2. Water _____ 7. Additional Clothes
____3. Food ______8. Extra Cellphone
___ 4. Shelter ______9. Fish
____5. New Car ______10. Meat
What I Can Do
Read the passage about needs and wants. Answer the questions
All people have needs. Needs are things we must have in order to survive. We need food, water,
clothes, and shelter. Wants are things we would like to have but do not need. Some people want a
car, or a boat, some want jewels, some want a TV, some want a phone.

Questions: 1. What are needs?

________________________________________________________________________________________
2. What are wants?
________________________________________________________________________________________
3. Name three wants

Assessment:
Read and analyze the following situations below. Identify each if the situation is a Need or Want. Write
your answer on the space provided.
1. Maria is having a problem about her school project expenses because her mother’s income is just enough
for their food. She decided to sell banana chips to her classmates so that she willhave money to buythe
materials needed for the project.
Answer:___________________________
2. You are bored sitting alone in the house and turns on TV to watch news.
Answer:___________________________
3. One sunny morning, Joshua is playing on the park with hisfriends. He saw that his friend has a new toy.
He feels jealous while watching it, he then ran towards his mother and asked her to have the samenew toy.
Answer:___________________________
4. Angelois having lunch with his father at the restaurant, after eating,he again asks to eat ice cream even if
he is already full.
Answer:___________________________
5. Arnold is a hard-working pupil in their school. Every morning he brings fruits and vegetables to the
teachers to sell so that he can have money to buy medicines for his sick mother.
Answer:___________________________
6. You are starving. You go to a restaurant and order a cup of rice andone-piece fried chicken.
Answer:___________________________
7. After eating the rice and chicken, you ordered another two cups ofrice, two pieces of fried chicken and a
dessert.
Answer:___________________________
8. Mrs. Pedrosa was happy to announce to her pupils that there will be a gift-giving activity in their school.
She said that all pupils will receive school supplies, raincoats, slippers and school bags. The
pupils were happy to hear the good news.
Answer:___________________________
9. While watching TV, you keep on changing channels for a good TVshow.
Answer:___________________________
10. You walked for one hour under the heat of the sun. In a little while, your throat became dry. You went
to the shop and bought one bottle of water.
Answer:___________________________