AB1202

GROUP 2
REPORTERS:
- Cabral, Kathy
- Lopez, Kylene
- Lustan, Devon Nicole
- Magalpoc, Marckjohn
- Manalo, Dianne Bernadette
- Perez, Michaela Angeline
 PLACE
This is the location where the
enterprise conducts the business.
This is highly given importance so
that salespeople have the best
access to their customers.
 Initial Location
Screening
• Number of residing and working customers in
the area and customers who frequently pass
through the area
• The density or number of customers per unit
area
• The access routes to alternative locations and
their traffic count in those routes
• The buying habits of customers such as the
location, time, and frequency
• Locational features such as parking spaces,
foot access, and more
 Initial Location
Screening
• The cost of buying, renting, renovating, and
operating the location
• Costumer volume or the percentage of customer
traffic that would stop by the store and sales
conversion ratios or the percentage of customers
who purchase something from the store
• Revenues are based on the volume and mix of
goods and services expected to be sold at certain
prices
• Profits
 Final Choice
Of Location
• Image and location conditions.
• Exact fit to target customers.
• Clustering of competitor
establishments.
• A future area of developments
• Fiscal and regulatory
requirements.
 PROMOTION
This is the explicit communication
strategy adopted by an enterprise
to elicit patronage, loyalty, and
support not only from its
customers but also from its other
significant stakeholders.
 3 Critical Factors of
Effective Promotion
1. The credibility of the communicator
2. The message and medium of the
message
3. The willingness of the audience to
all that is being communicated
Product
Definition
 The Entrepreneurial
Mind
1. Creative mind – conceptualizes and designs
a product that consumers fine some use for.
2. Technical mind – is the technology
originator, adaptor, and renderer.
3. Business mind – harnesses the potentials
of new products by creating the market space
for them.
 Product Concept
A product concept is a detailed
description of an idea, which
you describe from the
customers’ perspective.
 Product
Development
A product development refers
to all of the stages involved in
bringing a product from the
concept or idea through market
release and beyond.
 Product
Development
(Common Stages)
1. Identifying a market need.
2. Quantifying the opportunity.
3. Conceptualizing the product.
4. Validating the solution.
5. Building the product roadmap.
6. Developing a minimum viable product.
7. Releasing the minimum viable product to
users.
8. Ongoing iteration based on user feedback
and strategic goals.
 Product Launch
A product launce refers to a
business’ planned and coordinated
effort to debut a new product to
the market and make that product
generally available for
purchase.
 Strategies for better
chances of successful
product launch
1. Launch before you’re 100%
ready.
2. Build for the whole user
experience.
3. Start with the end in mind.
 THE END 