Week 2

1.
The following are examples of

peoples basic needs, except:
a. Clothing
b. Food
c. Recreation
d. Shelter
2. Which of the following should be considered first by a
prospective entrepreneur in choosing the right location
for his/her store?
a. Types of merchandise
b. Access of the target customers
c. The attractiveness of the store layout
d. The prevailing prices of goods in the area
3. Jerry plans to put a digi-print studio in their locality.
Which of the following will help him determine a
successful plan for setting up of his business?
a. Checking for similar business to avoid
competition
b. Getting feedback on the quality of service
c. Survey of consumer associations
d. Conduct a SWOT analysis
4. Ceasar studies the population in his immediate
community. He is doing this to
a. predict his biggest buyer.

b. identify his would be suki.
c. select his favorite costumers.
d. determine whom to sell his product or
service.
5. When an entrepreneur improves and alter products to
make it more appealing to target consumers, he/she is
doing an -------- of the product.
a. alteration
b. innovation
c. improvisation
d. invention
Answer Key
1. c
2. b
3. d
4. c
5. d
How does one select an
entrepreneurial activity?
Objectives:
1. Identify the players/competitors within the town
2. Identify the different products/services available in the market
3. Profile potential customers
4. Identify the customers needs and wants through consumer analysis
5. Conduct consumer/market analysis
Basic Needs
-essential to every individual so he/she may

be able to live with pride and dignity in the
community
Needs in business
1. Basic commodities for consumption

2. Clothing and other personal belonging
3. Shelter, sanitation and health
Wants
-desires, luxury and extravagance that

signify wealth and an expensive way of
living
Needs or Wants
pajama
Needs
Needs or Wants
Vans shoes
Wants
Needs or Wants
fruits
Needs
Needs or Wants
Bungalow House
Wants
Needs or Wants
Bench and Bath

Towel
Wants
Needs or Wants
Pilot ballpen
Wants
Environmental Scanning
-a process of gathering, analyzing, and

dispensing information for tactical or
strategic purpose
Population: 11,171 (as of
May 1, 2010)
References: http://www.delahyde.com/lubang/pagesl/lubang_maps.html
Mini-Survey
Filled up the table on the next slide of
your gathered information on
population across age brackets as
suggested in the matrix.
Mini-Survey
Age Bracket Population Needs Wants
Example: Wooden toys, glossy
Toys, coloring books,
5 and below 24 coloring books,
pajama fashionable pajamas
6-10 years old
11-15 years old
16-20 years old
21-25 years old
26-35 years old
36-45 years old
46-55 years old
56-65 years old
66 and above
Use the suggested matrix below to indicate
your choice of the most promising product
you may wish to venture in.
Business Idea: _________________

POSITIVE FACTORS NEGATIVE FACTORS
Strengths Opportunities Weaknesses Threats
Draw a vicinity map reflective of potential market
in Computer System Servicing in Lubang
Poblacion. You need to answer the questions
below that may lead to the generation of a
probable business.
Who do you think are your target consumers/markets?

Where is the most ideal location to situate your business?
Which products or services in CSS would appeal to
your target consumers/markets?
Can you say that you have seized the most feasible
business opportunity? Why?
How does one select an
entrepreneurial activity?
1. The following are examples of
peoples basic needs, except:
a. Shelter
b. Recreation
c. Food
d. Clothing
2. Which of the following should be considered first by a
prospective entrepreneur in choosing the right location
for his/her store?
a. The prevailing prices of goods in the area

b. The attractiveness of the store layout
c. Access of the target customers
d. Types of merchandise
3. Jerry plans to put a digi-print studio in their locality.
Which of the following will help him determine a
successful plan for setting up of his business?
a. Checking for similar business to avoid
competition
b. Getting feedback on the quality of service
c. Survey of consumer associations
d. Conduct a SWOT analysis
4. Ceasar studies the population in his immediate
community. He is doing this to
a. predict his biggest buyer.

b. identify his would be suki.
c. select his favorite costumers.
d. determine whom to sell his product or
service.
5. When an entrepreneur improves and alter products to
make it more appealing to target consumers, he/she is
doing an -------- of the product.
a. alteration
b. innovation
c. improvisation
d. invention
Answer Key
1. b
2. c
3. d
4. c
5. d

Week 2

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1.

The following are examples of

a. predict his biggest buyer.

-essential to every individual so he/she may

1. Basic commodities for consumption

-desires, luxury and extravagance that

Bench and Bath

-a process of gathering, analyzing, and

Business Idea: _________________

Who do you think are your target consumers/markets?

a. The prevailing prices of goods in the area

a. predict his biggest buyer.

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