Screening Business • why customers should buy from you

instead of someone else

Opportunities
• a clear differentiator that
Screening distinguishes and positions your
entire business in the market.
-Screening is done so you can focus on the
business idea that will present the best
opportunity by:
USP five basic components
 Screening yourself
 Benefits
 Screening your customers  Emotive
 Key selling points
 Screening the specific products or  Key difference
services you plan to offer  Competitive Advantage
Personal-level Screening
Value Proposition (VP)
1. Your personal preference: your
knowledge, experience, talents and • It is a simple statement that
skills, and personal interest summarizes why a customer would
choose your product or service.
2. Customer requirements (must be
aligned with what the customer • It communicates the clearest benefit
wants) that customers receive.
3. Viability – product or service should • It is an end benefit a customer
be realistic, feasible/doable receives after purchasing your
considering the resources available product, service or solution."
and based on time frame provided,
practical given the current personal
and professional situation Five Value Proposition Categories

4. Profitability – opportunity of gainful • Productivity

money-making • Profitability
• Image
5. Innovation or differentiation – • Experience
product or service must be unique • Convenience
and convenient to customers
Unique Selling Proposition (USP) USP vs VP

• differentiates a product or brand • The Unique Selling Proposition, is

from its competitors why customers should buy from you
instead of someone else. It is a part
• Walking the extra mile, by giving of VALUE PROPOSITION.
your customer CONVENIENCE
 • The Value Proposition is what you
are offering to customers for what
THREATS
they are paying.
- harmful things that may potentially
negatively affect your
SELECTING THE BEST products/services/company

PRODUCT OR SERVICE
TRENDS
SWOTT ANALYSIS
- market inclinations towards your
- A framework used to evaluate a company’s
products/services/company
competitive position and to develop strategic
planning.
- A popular tool for business analysis is the OTHER SPECIALIZED ASSESSMENT
SWOTT ANALYSIS which stands for: TOOLS
S – Strengths
W – Weaknesses MARKET ASSESSMENT
O – Opportunities - gauges the relationship of the market
demand vs. supply
T – Threats
- it looks at your target market: its size,
T – Trends
segments, and your share
- it looks at your competitors
STRENGTH
- advantages of your
TECHNICAL/OPERATIONS/
products/services/company over similar
offerings PRODUCTION ASSESSMENT
- technical competence in creation of
product/services
WEAKNESS
- specialized knowledge and skills, PPE, raw
- perceived limitations of your
materials, technologies, processes, etc.
products/services/company, it is your weak
points
ORGANIZATIONAL ASSESSMENT
OPPORTUNITIES - involves human resources, the ability to
manage people, employment policies,
- things that happen outside which can
procedures, recruitment, training, salaries,
potentially be to the advantage of your
products/services/company
benefits, productivity, motivation of • If not, could you develop an area of
workers, etc. superiority?
• Should you be offering this product
or service at all in the current
FINANCIAL ASSESSMENT
marketplace?
- current financial situation, capital structure,
budget, investments, financial statements,
financial ratios (liquidity, activity, debt and Price
profitability)
• Price should be appropriate to the
realities of the current market.

MARKETING MIX • Sometimes you need to lower your

prices an you need to add free items.
7ps of Marketing mix
• Sometimes you need to change your
terms and conditions of sale and you
Marketing Mix can also combine products and
services together with special offers
• It refers to the set of actions, or and special promotions.
tactics that a company uses to
promote its brand or product in the Pricing Method
market. Break-even pricing – minimum price is
• They are a combination of factors determined at the level where total sales
that can be controlled by a company equal total cost.
to influence consumers to purchase Formula:
its products.
Selling price = (Total fixed costs/No. of
units sold) + Variable cost per unit
The 4P’s that typically make up the Break-even volume = Fixed costs/(Price-
marketing mix are: Variable Cost)
Competitor-based pricing – businesses
Product set prices based on their competitors'
prices
• Is your current product or service
appropriate and suitable for the Price skimming – Companies use price
market and the customers of today? skimming when they are introducing
innovative new products that have no
• Are these the right products or competition. They charge a high price at
services for our customers today? first, then lower it over time.
• Is your product or service superior in Penetration pricing – a pricing strategy
some significant way to anything that is used to quickly gain market share
else available?
 by setting an initially low price to entice  branding
customers to purchase
 slogan
Value-based pricing – a strategy of
 logo
setting prices primarily based on a
consumer's perceived value of a product
or service.
Types of Promotion:
• Discounted products
Place
• Free delivery
• The location where the product is
available, or the service is delivered • Acknowledge return
plays a role in the promotion, price, • Flash sales
and product.
• Buy more, save more
• Home service is more costly than
others. • Giveaways/freebies

• Shops should have nice appearance.

• Online presence is also essential. People

• Location should be at the place • People, in the marketing mix, refers

where your target market is. to anyone directly or indirectly
involved in the business side of the
enterprise.
You need to consider in place • That means anyone involved in
• Consider the operational needs. selling a product or service,
designing it, marketing, managing
• Consider the rent costs. teams, representing customers,
recruiting and training.
• Consider the fees/taxes.
• Even CHATBOTS can be considered
• Consider the security.
as PEOPLE in the marketing mix.
• Consider the competition.
• Consider the growth potential.
Packaging
• Consider the accessibility.
• Packaging refers to the way your
product or service appears from the
outside.
Promotion
• It also refers to how your people
• Promotion is how a business
dress and groom.
markets its products or services.
• It refers to your offices.
Promotion strategy includes developing:
 • It refers to your waiting rooms. Every product of the same business has a
separate brand name that distinguishes it
• It refers to your brochures,
from the rest of the company’s products.
correspondence and every single
visueal element about your company. Example:
Procter & Gamble Co. – Tide, Ariel,
Pampers, Downy
Positioning
• Positioning refers to the place that a
brand occupies in the minds of the 3. Line extension approach
customers and how it is distinguished
The existing product has been modified or
from the products of the competitors.
altered resulting in a new products.
• How do people think and talk about
Example:
your company?
Bearbrand Fortified, Bearbrand Sterilized,
• What specific words people use
Bearbrand Adult plus
when they describe you and your
offerings?
4. Product extension approach

DEVELOP A BRAND New product carries the brand name in a

new category.
NAME
Example:
• It refers to the name, design, color,
Samsung Television, Samsung
symbol, quality, features or a
combination of these elements that Refrigerator, Samsung washing machine
make the product separate and
distinct from similar products of the
competitors. Characteristics of Good Brand Name
1. It should be unique / distinctive
Four Branding Strategy (example - Kodak)

1. Umbrella brand approach 2. It should be easy to pronounce,

identified and memorized. (example
All products of the business carry the same - Tide)
brand name.
3. It should give an idea about
Example: product’s qualities and benefits
(example Safeguard).
Honda Civic, Honda Accord, Honda BR-V
4. It should be easily convertible into
foreign languages.
2. House brand approach
 5. It should be capable of legal
protection and registration.
6. It should suggest product/service
category (example – Inquirer).
7. It should not portray bad/wrong
meanings in other categories. (For
instance NOVA is a poor name for a
car to be sold in Spanish country,
because in Spanish it means “doesn’t
go”).

How to Choose a Good Brand Name

Step 1 – Choose the type of name
1. Evocative – should elicit a positive
emotional response and invite
potential customer
2. Catchy
3. Simple to spell and pronounce
Recognizable

Step 2- What do you want your name to say?

Step 3 - Check if the name is available.