L4- Possible products and services that will meet the need.pptx

GRADE 11-ENTREP

1. Possible Product/s or Service/s that will M eet the need

2. Entrepreneurs must have a full knowledge as to what products are needed in the society. The product will be for the satisfaction of the group of the target market. It must be specific, identified from the others, and easily be recognized.

3. Product Description Necessities 1. Cite the uniqueness of product over other existing products in terms of characteristics, variations and the like

4. Product Description Necessities 2. Use layman’s term in describing the firm’s product or service. Present a product mix if the firm will be selling more than one product.

5. Product Description Necessities

6. Product Description Necessities 3. Illustrate the usefulness of the product/service. Provide substantial information on effectiveness of marketing which includes positioning and strategies.

7. Product Description Necessities 4. Present the nature including the content of raw materials that will be used in the proposed product and its source.

8. Level of Product

9. Level of Product Tangible Products Augmented Product Generic Product

10. Level of Product Tangible Products - basic physical appearance which can be a service or idea having precise specifications and is offered under a given/specified description or model number. Example : Honda Brio Model, House and Lot 400 sq meters (floor and lot area).

11. Level of Product 2. Augmented Product - includes the image and service features of a certain entity. It gives emphasis on the tangible benefits that the customer will be getting from buying and selling. Ex. Car insurance, medical & Dental benefits, fire insurance.

12. Level of Product 3. Generic Product - emphasizes the impact of the product to the consumer, not the seller. This will signify the purpose of its existence and the primarily objective in creating the product. Ex. Prestige, status signal, professional image.

13. Types of Product

14. Level of Product Goods Services

15. Types of Product Goods – sale of the physical products from the manufacturer to the consumer or ultimate user; tangible products.

16. GOODS Durable Goods Non- Durable Goods

17. Types of Product Goods Durable Goods - physical products that are used over a long period of time. Example: Steel, stainless, appliances.

18. Types of Product Goods Non-durable Goods - physical goods that are quick and easily be consumed or worn out. Example: Plastic wares.

19. Types of Product 2. Services- intangible products that satisfaction can be measured in future preferences. Example: Relaxation in salon and spa; Education from school .

20. Services Rented- goods services Owned- goods services Non-goods service

21. Types of Product 2. Services R ented-goods services - consumer rented facility of the sellers in a certain period of time. Example: Car or space rental

22. Types of Product 2. Services Owned -goods services - repair and maintenance services rendered by the sellers to the products of the customer. Example: Laundry business, car wash.

23. Types of Product 2. Services Non -goods services - personal service on the part of the seller, most common are the expertise and profession of the seller. Example: Teacher will act as tutor, accountant will act as bookkeeper, lawyer will act as legal consultant, receptionist and guest relation officer .

24. Consumer Products

25. Consumer Products These are goods and services destined/produced for the final consumer for personal, family, or household use. The use of the goods or services designates it as a consumer product.

26. Consumer Products Convenience Products Shopping Products Specialty Products

27. Consumer Products 1. Convenience Products -are purchased with the minimum or less effort because the buyer has knowledge of product characteristics prior to shopping.

28. Consumer Products 2. Shopping Products -are products that the consumers acquire through further knowledge and information in order to make final purchase decision.

29. Consumer Products 3. Specialty Products - are the items with particular brands and stores which consumers are loyal. They are willing to make a significant effort to acquire the brand desired units and will pay a higher or above the price of similar products.

30. Industrial Products

31. Industrial Products - are goods or services purchased for use/consumption in the production/manufacturing of other goods or services, in the operation of a business or for resale to other customers.