RECOGNIZE

AND
UNDERSTAND
THE MARKET
GROUP3
 MINI
GUESSING
GAME!!!
 M_RK_T  
A place where buyers and sellers can meet to facilitate
the exchange or transaction of goods and services. It
can be physical like a retail outlet or even virtual. 

Answer:
MARKET
 EN_RE_R_NE_R
 
One who organizes, manages, and assumes
the risks of a business or enterprise.

Answer:
ENTREPRENEUR
 _AR_ET MA_K_T  
Defines a product as well as vice versa. Once a target market is
identified, it can affect a product's design, packaging, price,
promotion, and distribution.

Answer:
TARGET MARKET
 SE_VI_E R_QU_ST  
A request from a costumer who needs support, information,
or some kind of action in the day-to-day operation of a
business.

Answer:
SERVICE REQUEST
 S_TI_FIE_S  
Requirements that customers are not expecting, but the more
of them that are included, the happier the customer.

Answer:
SATISFIERS
VALUE PROPOSITION
(VP)
 VALUE
PROPOSITION (VP)

Value Proposition is a business or marketing statement that

summarizes why a consumer should buy a company's product
or use its service. This statement is often used to convince a
customer to purchase a particular product or service to add a
form of value to their lives. In creating Value Proposition,
entrepreneurs will consider the basic elements:

• TARGET COSTUMER • NAME OF THE PRODUCT

• NEEDS/OPPORTUNITY • NAME OF THE

ENTERPRISE/COMPANY
 There are many competitors in the market
who establish superiority over other
entrepreneurs. Entrepreneurs should think
of other alternatives to make their products
better. An important aspect in Value
Proposition is that it must be truthful and
that it should establish credibility to the
consumers.
UNIQUE SELLING
PROPOSITION
(USP)
 UNIQUE SELLING
PROPOSITION (USP)

Unique selling proposition refers to how you sell your

product or services to your customer. You will address
the wants and desires of your customers.
Some tips for the
entrepreneur on how to
create an effective
unique selling
proposition to the target
customers are:

• Identify and rank the

uniqueness of the product or
services character
• Be very Specific
•Keep it Short and
Simple (KISS)
UNIQUE SELLING
PROPOSITION
AND
VALUE
PROPOSITION
UNIQUE SELLING PROPOSITION AND
VALUE PROPOSITION
• These are two of the most famous tools used to explain why prospect
customers buy each product and services.

• USP and VP are frame works of each business industry.

• These Propositions are valuable to the entrepreneurs.

• In doing these propositions make sure that you are focusing on a solution.

There are three factors the will determine your costumers these are:
Target Market - Costumers Requirements - Market Size
A. TARGET
MARKET
TARGET MARKET
Market Targeting is a sage in market identification process
that aims to determine the buyers with common needs and
characteristics. Prospect customers are a market segment that
an entrepreneurial venture intends to serve. In targeting a
specific market, it will exclude people if it will not fit your
criteria. Rather target marketing allows you to focus your
marketing money and brand message on a specific
market that is more likely to buy from you than other markets.
Choose a product that is more affordable, efficient, and
effective to reach potential clients and generate business.
Commonly used methods for segmenting the markets are
follows.:
 METHODS
Geographic Demographic
segmentation Segmentation

Psychological Behavioral
Segmentation Segmentation
 B. COSTUMER
REQUIREMENTS
 COSTUMER
REQUIREMENTS
Customer requirements refer to the specifications or features of a
product or service that are deemed necessary by customers.
These requirements motivate customers to buy a product or
service. To determine customer requirements, companies can
research their target market to understand their desires and needs.
 THREE LEVELS OF COSTUMER
REQUIREMENTS
MUST HAVES
These are the functional
requirements without which the
customer will not accept the
product. if fulfilled customers will
be not show any exceptional
appreciation but if not fulfilled, the
customer will show dissatisfaction.
SATISFIERS
There are the requirements
that customers express their
desire for, explicitly. If you
offer better or more of these
satisfiers, then the customers
will appreciate it more and will
be more satisfied.
DELIGHTERS
These are the extras features
which may or may not be expected
by the customer. Absence of these
will not leave the customer
dissatisfied. In fact, the absence of
these characteristics might not
even be noticed. But adding these
would increase the customer’s
satisfaction greatly and will leave
them delighted.
 SERVICE
REQUEST
SERVICE
REQUEST
An intangible thing or product that
cannot be touched but the customer can
feel the fulfillment. There are elements
in service requirement like on-time
delivery, service with a smile, easy-
payment etc. It includes all aspects of
how a customer expects to be treated
while purchasing a product and how
easy the buying process goes.
 OUTPUT
REQUIREMENTS
 OUTPUT
REQUIREMENTS
For an industry, output is a measure of all the goods and services
produced in a given time period by businesses in that industry
and sold either to consumers or to businesses outside that
industry. For example, output can be the number of tons of sugar
or boxes of cookies produced in a year by a business or industry.
C. MARKET SIZE
MARKET SIZE

The entrepreneur’s most critical task is to calculate

the market size, and the potential value that market
has for their start-up business. Market research will
determine the entrepreneurs’ possible customers in
one locality.
 WHAT IS MARKET SIZE?
Market size is like a size of the arena where the entrepreneurs will play their business. It
is the approximate number of sellers and buyers in a particular market. Companies are
interested in knowing the market size before launching a new product or service in the
area. In determining the market size, the entrepreneur will conduct a strategic marketing
research from reliable sources using the following method. The first step is to estimate
the potential market – approximate number of customers that will buy the product or
avail your services. The second step is to estimate the customers who probably dislike
to buy your product or avail the services. The third step is for the entrepreneur to
estimate the market share, that means plotting and calculating of the competitor’s
market share to determine the portion of the new venture. Market size becomes the
most important factor if you ever need to raise funding for your business.
 Here's a simple market size formula: if there
are 500,000 target customers in your market,
this means the total volume of market demand
for acne face wash is 500,000 x 12 (months a
year) = 6 million a year. If the average price of
acne face wash is 10 a tube, then market value
is 6 million x 10 = 60 million.