Entrepreneurship Report Presentation - Group 6.pptx

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1. Page 01 2024 6. Can the product be superior in quality, presentation or marketing when there is a comparable product?

2. Page 02 2024 This entails knowing and understanding your unique selling proposition. Unique selling proposition is the one thing that makes your product different than any other. It enumerates all the advantages, benefits and answers customer's needs and wants.

3. 2024 It is one reason they think consumers will buy the product even though it may seem no different from many others just like it. The product may have a lower price or more attractive packaging, or it might taste or smell better, or last longer.

4. Advantages Prospects Needs & Wants B E N E F I T S POSITIONIN G UNIQUE SELLING PROPOSITION Figure 1. Venn Diagram of Unique Selling Page 04 2024 Below shows the Venn diagram of Unique Selling Proposition: Meanwhile, a FAB ( Features , Advantages and Benefits ) Analysis is needed when establishing a unique selling proposition. =

5. Page 05 2024 The FAB Analysis Before you can finally make your very own Unique Selling Proposition, you need to do the FAB (Features, Advantages and Benefits) Analysis. This is done to determine the quality and competitiveness of the product you want to market.

6. The FAB Analysis Page 08 2024 tell about what's intrinsic to the product or service. It contains facts that are useful for customers in his or her decision to buy. Features are the main reason why the feature is important to the buyer. Oftentimes these can motivate or convince the buyer coupled by his developed positive emotions towards the product. Benefits ADVANTAGES should make potential customers think about what makes your product the best option. It lists down your product's strengths over competitors.

7. 2024 Page 07 Table 1: Example of a FAB Analysis Features ADVANTAGES Benefits Personalized hand painted art based on customers preferences. *Made of recyclable materials *Organic material reinforcement *1 main section and 2 Flexible *Durable *Low Cost *Fashionable. *Accommodates personal and daily needs. *Can be a gift or give away for any occasion. subsections for coins and small items *zippered *Eco-friendly *Easy to clean *Helps organize your things *Can be multi-purpose *Stylish *Informative *Artistic design

8. 2024 7. What are the potential sales, growth, profits, and time for payback? Before starting your business, run your numbers first. This requires a careful study through extensive research or by creating your own business plan. A business plan is an important aspect in considering any type of venture. The following are the factors to be taken into account: Page 09 a. from the nature of your business, b. how much capital would you need, c. what customers' need will you be able to meet, d. where to find materials; and e. what kind of suppliers will be your partners.

9. Page 06 2024 Of paramount importance are the figures or numbers you would like to see and realize during the course of your business. There must be projections of sales, expenses, profits for a certain period of time and how long will you be able to double your capital or retrieve your initial investment. A smart business plan can save yourbusiness from falling apart. As the saying goes: "If you fail to plan, you are planned to fail". Study the example in Table 2. Table 2: A sample Five-Year Income Projection

10. Thank You. 2024 Page 10 Submitted by: Shashney Lucada . Edward nitollama Submitted to: Neliza c. Simodlan