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Learning Competencies
• 2.2. Determine who the • 2.3 Validate customer-
customers are in terms related concerns
of: through:
2.2.1 Target market; 2.3.1 Interview;
2.2.2 Customer 2.3.2 Focused Group
requirements; and Discussion (FGD); and
2.2.3 Market size 2.3.3 Survey
(CS_EP11/12ENTREP-0d- (CS_EP11/12ENTTREP-
8) 0d-9)

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WHAT IS A TARGET MARKET?

 Target market is the


individuals or companies that
are interested in a particular
product or service and are
willing and able to pay for it.

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WHAT IS A CUSTOMER
REQUIREMENTS?
•It is particular •Particular
characteristics characteristics
and and
specifications of specifications of
a good or service a good or service
as determined as determined
by a customer by a customer.

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MARKET SIZE
•The size of a •It can be
market is the calculated by
total sales of all value (50m) or
products of all by volume (1200
firms in the m tonnes)
market.

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How are you going to
validate customer-related
concerns?

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Need to focus

Moving in the wrong direction at a fast pace


is still moving in the wrong direction.

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FOCUSED GROUP DISCUSSION
(FGD)
• It involves a “small number • is designed to provide
of people (between 4 and 15, exploratory rather than
but typically 8) to focus on a
conclusive research
specific product or topic.
data so you can
• Focus groups aim at a
discussion instead of on understand not
individual responses to only what your
formal questions, and customers think, but
produce qualitative data also how and why they
(preferences and beliefs) that think the way they do.
may or may not be
representative of the general • It is facilitated by a
population.” trained moderator
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INTERVIEW
• A common mechanism •It can be more time-
for gathering the voice consuming than focus
of the customer. groups, but because
• Usually conducted you are speaking
one-on-one with an directly with a single
individual customer or customer, you can
with a small number of focus on their
people from the same particular experience,
business or family unit. and also hear directly
from them.

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SURVEY
•Tend to be •Answer formats
classified can include
as quantitative multiple choice,
research and the rating scales and
results can be open-ended
conclusive, questions.
unlike a focus
group.
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Summary of the lesson

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Application

The learners will be going to choose one


tool/method to validate their customer-related
concern then formulate their own questions
based on their product concept.
Rubrics:
Content/Idea of the tool/method used – 5 points
Grammar/sentence construction – 3 points
Promptness & Neatness – 2 points
10 points

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