ENTREPRENEURSHIP

Week 5-6
Screen and select the best product or service that
will meet the market need.
 Factors to consider in
screening the
proposed solution
 ABIVILITY
 PABILIROFITTY
 MERCUSTO
REEQUIRMENTS

 In order to get the accurate

assessment of market needs,
wants and expectations
VIABILITY
 The product has a
good performance and
can be recommended to
others to be purchased

6 steps
 6 STEPS TO DETERMINE THE VIABILITY
1. Determine the target market
2. Understand the needs of the market
3. Define the value Proposition
4. Offer up a core set of features for the
Minimum Variable Product (MVP)
5. Build the MVP Prototype
6. Get the MVP in the market
1. Determine the target market
It is necessary to recognize who that product will
serve is sufficient for the first step
2. Understanding the Needs of the Market
It is essential to comprehend if the product will
satisfy the demand of the target market.
3. Define the value Proposition
A value proposition refers to the value
an entrepreneur promises to deliver to
the market.
 4. Offer Up a Core Set of Features for the MVP
The purpose is to iterate until the market agrees
on the minimum viable product.
5. Build the MVP Prototype
The Minimum Viable Product does not need to be final
since product fidelity and interactivity will vary for
each business idea.
6. Get the MVP in the market
Once the iteration of the MVP is satisfactory, it is
time to test in with the target market.
Factors
PROFITABILITY
 Conducting a product
profitability analysis forecast the
profitability of the new product
that is planning to market

3 keys
 3 KEYS TO ANALYZE THE
PROFITABILITY OF THE PROPOSED
SOLUTION
1. DETERMINE THE TRUE PRODUCTION
COSTIt OF
is essential to involve all the cost of getting
the product into the custody of the customer.
. TEST THE MARKET
Determining the customers that are willing
to pay for the price of the product.
Make a decision that will help the product
. FIND THE SAFE enter the market without losing its
S POT profitability
Factors
CUSTOMER  It is a characteristic
REQUIREMENT or specification that
should be available in
a product for it to be
considered desirable
by the market.
3 levels
 3 LEVELS OF CUSTOMER
REQUIREMENT
It is the basic Requirements expected by
1. MUST- the market that will be appreciated if
HAVES fulfilled
2. SATISFIERS It is the expression of the market
desire explicitly

3. DELIGHTERS
These are bonus, extras, or add-on to the
product requirements

Factors
 CRAFTING A
POSITIONING

IMPLEMENTING, CONCEPTUALIZING
ORGANIZING THE PRODUCT OF

DESIGNING
PROTOTYPING AND TESTING
Presented by:
SALLY C. BARANGAN
Recognize the importance of marketing mix in
the development of marketing strategy.