MARKET IDENTIFICATION The attribute is distinct to the product and
can be hardly be copied by the competitors
Is a strategic marketing approach and
process that is intended to define the EFFICIENT & REWARDING
specific customer of the product. There are
The cost in attaching the attribute or value
three strategic approaches: Market
to the product is not higher than the
Segmentation, Market Targeting and
expected benefits in terms of profit.
Market Positioning.
POSITIONING/PERCEPTUAL MAP
A tool that shows the position of similar
products competing in the market as
perceived by the customer.
TWO DIMENSIONS IN DECIDING
MARKET POSITION
MARKET POSITIONING
Refers to the process of arranging a
product to occupy a clear, distinct and
desirable place in relation to other
competing products in the mindset of
target consumers. (Kotler & Armstrong,
2013) UNIQUE SELLING PROPOSITION AND
The process of the determining the market VALUE PROPOSITION
position factors or considerations presented by a
1. Determine if the market position is seller as the reason that one product or
distinct from the others service is different from and better than
2. Evaluates the advantages or benefits that of the competition.
of every possible market position UNIQUE SELLING PROPOSITION
3. Decides on the market position
A method to market your product in a way
CRITERIA IN EVALUATING BENEFITS that is different than other competitor’s
• IDENTIFIABLE marketing strategies.
• BENEFICIAL VALUE PROPOSITION
• DISTINCTIVE ADVANTAGE
• EFFICIENT AND REWARDING An analysis or statement of the
combination of good and services offered
IDENTIFIABLE by a company to its customers in exchange
-The benefit or attribute is easily of payment
associated with the product.
-Easily identify any benefit that can be
derived from the product.
BENEFICIAL
The attribute provides valuable benefits to
the target consumers.
CUSTOMER REQUIREMENT
DISTINCTIVE ADVANTAGE
Particular characteristics or specifications Points to Consider in Segmentation
that should be present in a product/service
• Accessibility of the market segment
for it to be deemed desirable by the
• Size of the market segment
customer.
• Distinction of the market segment
What are the different methods in
MARKET TARGETING
Market Segmentation?
Is a stage in market identification process
COMMONLY USED METHODS FOR
that aims to determine the set of buyers
SEGMENTING MARKET
with common needs and characteristics.
• Geographic Segmentation They are the market segment that the
• Demographic Segmentation entrepreneurial venture intends to serve.
• Psychological Segmentation
TARGET MARKET
• Behavioral Segmentation
A particular group of consumers at which a
GEOGRAPHIC SEGMENTATION
product or service is aimed.
The total market is divided according to
MARKET SEGMENT EVALUATION
geographical locations in the Philippines
like provincial regions, cities, provinces, Factors to consider in evaluating market
municipalities and even barangay units. segment:
1. Climate • Size of the segment and its
2. Ethnic Group expected growth
3. Culture • Existing and probable structure of
4. Density (Urban or Rural) the segment
5. Classification of Geographical Unit
• Capability of the business
(First Class, Second Class)
MARKET SIZE
DEMOGRAPHIC SEGMENTATION
The number of individuals in a certain
The market is divided based on the
market who are potential buyers and/or
demographic variables of the consumers
sellers of product or service.
like gender, age, income, occupation,
education, religion, ethnic group and MARKETING STRATEGIES
family size.
• Individual or one-on-one marketing
What is the difference between SEX and • Segmentation marketing
GENDER? (differentiated or concentrated)
• Mass or undifferentiated marketing
Sex – Biological Traits that society
associates with being male or female
Gender – Cultural meaning attached to
being masculine and feminine, which
influence personal identity
PSYCHOLOGICAL SEGMENTATION
The market is divided in terms of what the
customers think and believe like needs and ENTREPRENEURIAL RESEARCH
wants, attitude, social class, personality
traits, knowledge and awareness, brand Research work is conducted in relation to
concept, lifestyle. the buying behavior of the consumers in
the target market segment.
BEHAVIORAL SEGMENTATION
Why we conduct Entrepreneurial
The market is divided based on these Research?
variables: perception, knowledge, reaction,
benefits, loyalty, responses RESEARCH CONDUCTED TO
• Determine the taste and preference Refers to information needed by
of the consumers entrepreneur in order to answer the
• Know the competitors, the suppliers, objective.
and the processing methods
• Quantitative & Qualitative Data
• Determine the relationship of the
different marketing variables • Primary & Secondary Data
How Research conducted? RESEARCH INSTRUMENTS
PROCEDURAL STEPS Is a tool used by the entrepreneur in
gathering or collecting data. The
1. Identifying the Problem
commonly used methods are personal
2. Deciding the type of data to be
interview, focus group discussion and
gathered
survey questionnaire.
3. Evaluating how data will be
collected PERSONAL INTERVIEW
4. Gathering the data
The entrepreneur conducting the study has
5. Analyzing the data gathered face-to-face interaction with the consumers
6. Making a conclusion and who are the respondents of the study.
recommendation
7. Reporting the result of the research INTERVIEW SCHEDULE
work A list of questions to be asked during the
interview.
What are the types of Entrepreneurial
Research? TWO TYPES OF PERSONAL
INTERVIEW
TYPES OF ENTREPRENEURIAL
RESEARCH 1. Unstructured Informal Interview
2. Structured Standardized Interview
• Exploratory Research
• Descriptive Research POINTS TO CONSIDER IN INTERVIEW
• Causal Research
• Interview Approach and Introduction
EXPLORATORY RESEARCH (Greetings, Small Talks)
• Overcome Apprehension
o Preliminary Research Work
• Language, Length of Interview,
o Gather baseline information
Confidentiality and Closing
o Used in solving a problem or
Interview
forming a hypothesis
FOCUS GROUP DISCUSSION
DESCRIPTIVE RESEARCH
• Is conducted by an entrepreneur
o Conducted when the foremost
with the assistance of a moderator
objective is to describe the present to gather the views of selected
buying behavior of the consumers in consumers on certain issues relative
terms of environmental factors, to their buying behavior.
buying decision process and • The group is normally composed of a
marketing mix small number of participants
ranging from 6 to 12 members.
CAUSAL RESEARCH
o Correlational Study • The participants are encouraged by
o Determine whether the behavior is the moderator or facilitator to share
caused by some environmental their opinions, beliefs or perceptions
factor about the given issue. All their ideas
and opinions are recorded.
RESEARCH DATA
SURVEY
SURVEY QUESTIONNAIRE should be presented in a neutral
manner
• Administered personally, telephone
• Each question should be translated
or mailed to consumer.
into the dialect that the target
• It may be a dichotomous question,
respondents are familiar with.
multiple-choice question or an open-
ended question SOURCES OF ERROR AND BIAS
3 IMPORTANT CONCERNS IN SURVEY Error/Bias induced by Respondents
• Sampling Technique/Method • Faulty Memory
• Sample Size • Exaggeration and Dishonesty
• Designing the Questionnaire
• Failure to answer questions
2 CLASSIFICATION OF SAMPLING
correctly
TECHNIQUE:
• Misunderstanding purpose of
PROBABILITY SAMPLING
interview
It is when the respondents are randomly
• Influenced of groups at interview
selected from a population
• Courtesy Bias
PROBABILITY SAMPLING METHOD
• Desire to help the respondents
• Simple Random Sampling
• Failure to follow instructions in
• Cluster Sampling
• Stratified Sampling administering the questions
• Multi-stage Sampling • Reactions to response
2 CLASSIFICATION OF SAMPLING
TECHNIQUE:
NON-PROBABILITY SAMPLING
It refers to the technique that is resorted
to “when it is difficult to estimate the
population of the study because they are
mobile or transitory in a given location.
PROBABILITY SAMPLING METHOD
• Convenience Sampling
• Purposive Sampling
• Quota Sampling
QUESTIONNAIRE DESIGN
Basic rule that has to be followed in
question formulation:
• The question, in their totality, should
be able to elicit all the necessary
information required in the
research.
• Each question should be clear and
definite
• Each question should cover one
topic at a time • Each question
