Exercises and Assignment

Instruction:
Think over your ideas and product/service concepts and complete the
matrices shown.

Market research helps you find customers for your business.

Competitive analysis helps you make your business unique.
Combine them to find a competitive advantage for your business.
Exercise 2: Determine where your product sits in the
public-private goods matrix

Considering the price

and features, more
expensive but still
available to public.
Exercise 2: Determine the product’s social vs commercial viability

Availability of the public for the product is at

hand; manufacturer may face crisis in terms
500.00 php – 700.00 php
of finance.
Only the wealthy and upperclassmen of
7,000.00 php – 15,000.00 php the society can access the product.

Some may or may not avail the product

1,000.00 php – 5,000.00 php because of the need or without need of access.

Availability and access is also at hand, but

700.00 php – 900.00 php less affordable.
 Exercise 3: Perform market and customer analyses
• Look back at your public-private goods
matrix (see Step 1).
• Use the range of product/services you
identified to define your different
market segments.
• Then do some research to identify the
leading competitor in this market
segment.
• Then compile a list of other competitors
in each identified market segment (try
and find their size as well to help you in
the next step on competitors and
collaborators).
• Once you have completed these tasks,
prioritize which of your
products/services you should enter the
market with first.
 Exercise 4 : Identify key features of your idea
For each, consider what is better, how much better, and how might competitors react? This is your
killer experiment!

An innovative technological device that This product uses voice-command system in

turns the usual idea of ordinary
wristwatches into a valuable product. It is
mainly concerned with health
maintenance and human safety. This age-
friendly gadget is not only designed as a
chic accessory, but a prototype for its wide
range of uses that will surely benefit its
users.
order to avoid gadget contact and
transmission of unwanted germs and
bacteria. The outer design of the wristwatch
will be made from recycled plastic that are
made durable and flexible, thus becoming
eco-friendly. Another thing that’s unique is
our alarm system that will help the users in
the time of danger.
The price is less expensive but not too less
of a cost too; it will still depend on the
materials, features offered, production and
labor cost.
They may become alarmed, or they will
just shrug us off since we are just a new
competitor in the market but once they see
us as a threat, they might do some new
innovations on their products to shift the
customers perspective.
Exercise 5 : Identify possible competitors and
collaborators.

Cupertino, California, Apple Smartwatch

Apple Inc. 147,000 (2020) United States Series If we cannot compete with
them in the market, we can
Olathe, Kansas, United become collaborators by
Garmin Wearables trying to propose for
Garmin Ltd. 16,000 (2020) States
product and features
innovation; reinforcement
San Francisco, California,
Fitbit Sense and and integration of ideas
United States from ours to them.
Fitbit 1,694 (2020) Versa

Samsung Galaxy
Suwon-si, South Korea
Samsung 267,937 (2020) Watch
Step 6 Task: Identify key activities at each stage of the development cycle. Questions to ask yourself:
Participants should also indicate where they are on the Technology Readiness
Level thermometer. • Where are you now
(viability)?
• How far do you
want to take it
yourself (strategy)?
• By when
Mapping out
Researching and “Health- Existence of of estimated
“Health-
Pilot-market
launch; limited
(development
brainstorming Monitoring competitors costs and
Monitoring release for
Wristwatch” and similar
products
possible retail
price Wristwatch” observation cycle)?
• With whom
(collaborators)?
• With whose help
(advice and
support)?
• What will it cost
(financials)?
 Exercise 7: Determine your skill set and what assistance
and support required to bring your idea to market

Our team mainly composes of students from: civil engineering, construction

GOVERNMENT AGENCIES
engineering technology, mechanical engineering, PERSONAL INVESTMENTS

and electrical engineering. We may lack in the aspect of having someone DONATIONS
SCHOOL/INSTITUTION
with an entrepreneurship major or someone who majors in electronic TECHNOLOGICAL SPECIALISTS
communications engineering but still, we will further study and research our PRODUCT MANUFACTURER
MEDICAL STAFF & INSTITUTIONS
product ensuring that it is high quality and accessible to any person who
BUSINESS SPECIALISTS AND ENTREPRENEURS
wish to avail it; for their health and safety. LEGAL ADVISORS
RESEARCH, EXTENSION, PRODUCTION AND ENTERPRISE DEVELOPMENT
(REPED)
MARKET RESEARCH ANALYSTS