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Total questions: 54
Worksheet time: 27mins
A person who organizes, operates, and assumes the risk of business venture.
(a)
It is a wealth-creating venture.
(a)
What is the title of Topic 2?
Recognize and Understand the Market
Introduction to Entrepreneurship
Recognize a Potential Market
Market REsearch
The switching cost is very high
Buyer
Rivalry among existing firms
Supplier
Substitute products
Potential new entrants
Substitute products are not readily available in the market
Supplier
Substitute products
Potential new entrants
Rivalry among existing firms
The product or service is unique
Potential new entrants
Rivalry among existing firms
Supplier
Substitute products
Characteristics of the products or services
Buyers
Rivalry among existing firms
Substitute products
Potential new entrants
Amount of fixed costs
Buyers
Substitute products
Rivalry among existing firms
Supplier
Rate of industry growth
Potential new entrants
Rivalry among existing firms
Substitute products
Supplier
Buyers
Switching cost is low
Substitute products
Rivalry among existing firms
Potential new entrants
supplier
Preferences and tastes of the customers easily change
Rivalry among existing firms
Supplier
Substitute products
Diversity of rivals
Rivalry among existing firms
Potential new entrants
Substitute products
Which is NOT part of the group?
The switching cost is very high
Switching cost is low
Product differentiation is highly noticeable
The price of substitute product is substantially lower
Which is not part of the Group?
a.Diversity of rivals
b.Number of competing firms
c.Characteristics of the products or services
d.Economies of scale
e.Amount of fixed costs
a
b
c
d
e
Which is not part of the group?
a.Substantial capital requirements
b.Strict government policy
c.Difficulty in accessing distribution channels
d.Increased capacity
a
b
c
d
Which is not part of the group?
a.The supplier has the ability for forward integration.
b.Suppliers in the industry are few, but the sales volume is high
c.High switching cost
d.The product or service is unique.
a
b
c
d
2 Factors Affecting Entrepreneurship
(a)
Companies or businesses that have the ability to penetrate or enter into a particular industry.
Potential new entrants
Rivalry among existing firms
Substitute products
Supplier
It is a state or situation wherein business organizations are competing with each other in a particular market.
(a)
RELEVANCE OF ENTREPRENEURSHIP TO AN ORGANIZATION (Give One)
(a)
Innovative
Common Competencies in Entrepreneurship
Core Competencies in Entrepreneurship
Career Opportunities of Entrepreneurship
Opportunity Seeker
Common Competencies in Entrepreneurship
Core Competencies in Entrepreneurship
Crust Competencies in Entrepreneurship
Profit Potential
Common Competencies in Entrepreneurship
Core Competencies in Entrepreneurship
Mini mini maynimo
Tingin mo papasa ka sa physics?
Oo
HIndi
(2) Changes in the environment
Physical
Physiological
Social
Societal
It is the art of observing correct practices in managing and operating a self-owned wealth-creating business enterprise by providing goods and services that are valuable to customers.
(a)
SALIENT FEATURES OF ENTREPRENEURSHIP
It is an art of correct practices
It is a wealth-creating venture
It entails opening and managing the self-owned enterprise.
It provides valuable goods and services.
Five forces of Competition
(a)
It is a business or marketing statement that summarizes why a customer should buy a company’s product or use its service.
VALUE PROPOSITION
UNIQUE SELLING PROPOSITION
Market Positioning
Market Segmentation-
It refers to how you sell your product or services to your customer. You will address the wants and desires of your customers.
VALUE PROPOSITION
Market Positioning
UNIQUE SELLING PROPOSITION
Market Identification
It is a strategic marketing approach and process that is intended to define the specific customer of the product.
Market Identification
Market Segmentation
VALUE PROPOSITION
UNIQUE SELLING PROPOSITION
It is designed to primarily divide the market into small segments with distinct needs, characteristics or behavior.
Market Targeting
Market Identification
Market Segmentation
Market Positioning
It aims to determine the set of buyers with common characteristics. They are the market segments that the entrepreneur intends to serve.
Market Targeting
Market Identification
Market Positioning
It is the process of arranging a product to occupy a clear, distinct and desirable place in relation to other competing products in the mindset of the target customers.
Market Positioning
Market Target
Market SEgmentation
(Segmentation) Divided based on consumers.
Demographic segmentation
Geographical segmentation
Psychological Segmentation
Behavioral segmentation
The total market is divided according to geographical location. *climate, dominant ethnic group, culture, density (rural or urban)
Geographical segmentation
Psychological Segmentation
Demographic segmentation
Behavioral segmentation
Needs and wants, attitudes, social class, personality traits, knowledge and awareness, brand concept, lifestyle.
Behavioral segmentation
Geographical segmentation
Psychological Segmentation
Demographic segmentation
divided according to customer’s behavior pattern as they interact with a company.
Psychological Segmentation
Behavioral segmentation
Demographic segmentation-
Geographical segmentation
Accessibility of the market segment
The market segment must be easily differentiated from the total market.
The market segment must be large enough to provide wealth to the entrepreneurial venture.
The market segment must accessible to the business.
Size of the market segment.
The market segment must be large enough to provide wealth to the entrepreneurial venture.
The market segment must accessible to the business.
The market segment must be easily differentiated from the total market.
Distinction of the market segment.
The market segment must be large enough to provide wealth to the entrepreneurial venture
The market segment must be easily differentiated from the total market.
The market segment must accessible to the business.
It 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.
Business Size
Market Size
Potential Size
Estimate Size
NOT kasama sa market size method.
Estimate the potential market
Estimate the customers who probably dislike to buy your product or avail the services
Estimate the market share
Estimate the market size
It can be defined as the process of gathering, analyzing and interpreting the information about the products or the services to be offered for sale to the potential consumers in the market.
Business Research
Market Research
Data REsearch
Energy, Happiness, Vitality
Orange
Yellow
Red
Blue
New Beginnings, Abundance, Nature
Blue
Green
Yellow
White
Creativity, Royalty, Wealth
Purple
Green
Blue
Tan
Calm, Elegant, Purity
White
Cream
Yellow
Tan
Refers to the tangible good or intangible service offered by the business to the target customers.
Product
People
Packaging
Refers to refers to the mode of conveying the presence and attributes of the product to the target customers.
Promotion
POsitioning
Packaging
Packing
a. Changes in the environment
b. Technological Discovery and advancement
c. Government’s trust, programs, and policies
d. People’s interest
e. Past experiences
Sources of Opportunity
Factors Affecting Entrepreneurship
Forces of Competition
The one that serves the same purpose as another product in the market
Potential New Entrants
Rivalry among existing firms
Substitute Products
Suppliers
a. Substantial capital requirements
b. Strict government policy
c. Difficulty in accessing distribution channels
d. Economies of scale
e. High cost of product differentiation
f. High switching cos
Potential New Entrants
Buyers
Rivalry among existing firms
Substitute Products
a. Diversity of rivals
b. Number of competing firms
c. Characteristics of the products or services
d. Increased capacity
e. Amount of fixed costs
f. Rate of industry growth
Rivalry among existing firms
Potential New Entrants
Substitute Products-
Suppliers
