Analyze-the-Market-Need.pptx

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1. REPORTER: RICA CORNELIO HUMSS-12 ENTREPRENUERSHIP

2. Analyze the Market Need

3. WHAT IS YOUR DEFINITION OF A MARKET? IT IS A PLACE WHERE TWO OR MORE PEOPLE CAN GATHER TO FACILITATE THE TRADE OF GOOD OR SERVICES. MARKET IT IS THE TOTAL OF ALL THE BUYERS AND SELLER IN THE AREA UNDER CONSIDERATION . MARKET

4. ANALYZING THE MARKET NEED It is analyzing the needs of consumers. Consumer needs and desires are important in any business because consumers are the lifeblood of any business. If there are no consumers or not enough consumers in your business, it may not last long because one of the factors influencing the success of any business is the quantity of its buyers.

5. WHAT ARE MARKET NEEDS? IS SOMETHING THAT IS NECESSARY. NEED IS SOMETHING THAT IS A DESIRE TO POSSES. WANT

6. METHODS TO IDENTIFY MARKET NEEDS IS A MARKET RESEARCH METHOD THAT BRINGS TOGETHER 6-10 PEOPLE IN A ROOM TO PROVIDE FEEDBACK ABOUT THEIR NEEDS PHRASES ENTERED. FOCUS GROUP SOCIAL LISTENING SOCIAL LISTENING GIVES YOU ACCESS TO WHAT PEOPLE ARE SAYING ABOUT THEIR NEEDS ACROSS SOCIAL MEDIA AND THE WEB. KEYWORD RESEARCH KEYWORD RESEARCH IS A WAY OF IDENTIFYING THE NEED BY THE USE OF SEARCH ENGINE, MOST BCOMMON WORDS AND PHRASES ENTERED.

7. MARKET SIZING IS A REFERENCE TO THE TOTAL MARKET DEMAND FOR GOODS OR SERVICES. SERVICEABLE AVAILABLE MARKET (SAM) SERVICEABLE OBTAINABLE MARKET (SOM) IS THE PART OF THE TAM TARGETED BY THE ENTREPRENEUR'S GOODS OR SERVICES THAT IS WITHIN REACH. IS THE PORTION OF THE SAM THAT REALISTICALLY REACHABLE. TOTAL AVAILABLE MARKET (TAM)

8. MARKET SIZING POSSIBLE TOTAL AVAILABLE MARKET(TAM )

9. MARKET SIZING POSSIBLE TOTAL AVAILABLEMARKET(TAM ) PHILIPPINES

10. MARKET SIZING TOTAL AVAILABLE MARKET(TAM) PALAWAN

11. MARKET SIZING SERVICEABLE AVAILABLE MARKET (SAM) PUERTO PRINCESA

12. MARKET SIZING SERVICEABLE OBTAINABLE MARKET (SOM) CITY PROPER

13. DETERMINE THE POSSIBLE PRODUCTS THAT WILL MEET THE NEED

14. Products, Goods, and Services Product is an object or system created for customer use; it is anything that can be counted to a market to meet the want or need of a customer. Goods are physical or tangible products that consumers buy to meet their needs and involve the transfer of ownership from the seller to the customer. Services are intangible or non-material that consists of activities, benefits, or satisfaction and do not result in the ownership of anything.

15. THE DIFFERENCE BETWEEN PRODUCTS, GOODS, AND SERVICES. PRODUCTS PRODUCTS GOODS SERVICES TANGINLE HOMOGENEOUS CAN BE STORED, INTANGIBLE HETEROGENEOUS CANNOT BE STORED TRANSFER OF OWNERSHIP TAKE PLACE CANNOT TAKES PLACE EXAMPLE PENCIL , CELLPHONE PLUMBING, REPAIRING

16. WHAT ARE MARKET NEEDS? MARKET NEEDS ARE THE IDENTIFIED AND UNIDENTIFIED NECESSITY OF THE NARKET THAT COMMUNICATE WITH YOUR BUSINESS, YOUR COMPETITORS, OR WHEN THEY SEARCH FOR THE ANSWERS YOU PROVIDE

17. TYPES OF MARKET NEEDS GOODS NEEDS PRICE : MARKETS GENERALLY SET THEIR BUDGETS FOR ANY GOODS PURCHASE. FEATURES : MARKETS LOOK FOR FEATURES THAT WOULD SOLVE THEIR PROBLEM AND RELIABILITY IN FUNCTIONING WHILE USING THE PRODUCT. EFFECTIVENESS : THE PRODUCTS SHOULD BE USEFUL IN STREAMLINING THE PROCESS TO SAVE TIME SERVICES NEEDS EMPATHY : MARKET STICKS TO BRAND THAT SERVE THEM WITH AN EMPATHETIC ATTITUDE. CLARITY : MARKET LOOK FOR TRANSPARENT INFORMATION FROM THE BRAND RELATED TO PRICING, REFUND POLICY, ETC . COMMUNICATION : THE MARKET NEEDS INFORMATION FROM THE POINT OF INTERACTION UNTIL THE END.

18. DETERMINING THE POSSIBLE GOODS OR SERVICES DETERMINING THE POSSIBLE GOODS OR SERVICES THAT WILL MEET THE NEED OF THE MARKET IS ESSENTIAL TO ANY STARTUP ENTREPRENEURS.

19. DETERMINING THE POSSIBLE GOODS OR SERVICES The simple through is that no one will buy your product if they believe they don't want it or they don't need it and we won't pursuit anyone to buy what you're offering unless you clearly understand what it is your market want.

20. HOW TO MEET THE MARKET NEEDS IDENTIFY THE MARKET NEEDS BY ANALYZING THE CONDUCTED INTERVIEWS , FOCUS GROUP, SOCIAL LISTENING, OR KEYWORD RESEARCH. DISTRIBUTE THE INFORMATION TO RELEVANT STAKEHOLDERS TO THE GROUP OR ORGANIZATION. TAILOR PRODUCT FEATURE DETAILED CONTENT THAT SPEAKS TO THE MARKET NEEDS COLLECT CUSTOMER FEEDBACK REGULARLY TO LEARN THE EFFORTS TO MEET THEIR EXPECTATIONS.