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Entrepreneurship: Customer Needs and Expectations Market Positioning

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0% found this document useful (0 votes)
2K views15 pages

Entrepreneurship: Customer Needs and Expectations Market Positioning

Uploaded by

Godwill Oliva
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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SENIOR

Entrepreneurship HIGH
SCHOOL

Module
· Customer Needs and Expectations 10
· Market Positioning
Quarter 1
Entrepreneurship
Quarter 1 – Self-Learning Module 10: Customer needs and Expectations, and
Market Positioning

Republic Act 8293, Section 176 states that no copyright shall subsist in
any work of the Government of the Philippines. However, prior approval of the
government agency or office wherein the work is created shall be necessary for
exploitation of such work for profit. Such agency or office may, among other things,
impose as a condition the payment of royalties.

Borrowed materials (i.e., songs, stories, poems, pictures, photos, brand


names, trademarks, etc.) included in this module are owned by their respective
copyright holders. Every effort has been exerted to locate and seek permission to
use these materials from their respective copyright owners. The publisher and
authors do not represent nor claim ownership over them.

Development Team of the Self-Learning Module


Writer: Imelda F. Sanosa, Caroline C. Lacuesta
Editors: Marivi T. Camacho, Buena R. Abestilla
Reviewers:
Content/Language: Edna D. Camarao, Dennis T. Alex
Illustrator:
Layout Artist:
Management Team: Ma. Evalou Concepcion A. Agustin
OIC-Schools Division Superintendent
Aurelio G. Alfonso EdD
OIC-Assistant Schools Division Superintendent
Victor M. Javeña EdD
Chief, School Governance and Operations Division and
OIC-Chief, Curriculum Implementation Division

Education Program Supervisors

Librada L. Agon EdD (EPP/TLE/TVL/TVE)


Liza A. Alvarez (Science/STEM/SSP)
Bernard R. Balitao (AP/HUMSS)
Joselito E. Calios (English/SPFL/GAS)
Norlyn D. Conde EdD (MAPEH/SPA/SPS/HOPE/A&D/Sports)
Wilma Q. Del Rosario (LRMS/ADM)
Ma. Teresita E. Herrera EdD (Filipino/GAS/Piling Larang)
Perlita M. Ignacio PhD (EsP)
Dulce O. Santos PhD (Kindergarten/MTB-MLE)
Teresita P. Tagulao EdD (Mathematics/ABM)

Published by the Department of Education - Schools Division of Pasig City

Printed in the Philippines by Department of Education – Schools Division of


Pasig City
SENIOR
Entrepreneurship HIGH
SCHOOL

Self-Learning
Module

10
Quarter 1

Customer Needs and Expectations


· Market Positioning
Introductory Message

For the facilitator:

Welcome to the Entrepreneurship with Grade 12 Self-Learning Module on


Customer Needs and Expectations, and Market Positioning
This Self-Learning Module was collaboratively designed, developed and
reviewed by educators from the Schools Division Office of Pasig City headed by its
Officer-in-Charge Schools Division Superintendent, Ma. Evalou Concepcion A.
Agustin, in partnership with the City Government of Pasig through its mayor,
Honorable Victor Ma. Regis N. Sotto. The writers utilized the standards set by the K
to 12 Curriculum using the Most Essential Learning Competencies (MELC) in
developing this instructional resource.

This learning material hopes to engage the learners in guided and


independent learning activities at their own pace and time. Further, this also aims
to help learners acquire the needed 21st century skills especially the 5 Cs, namely:
Communication, Collaboration, Creativity, Critical Thinking, and Character while
taking into consideration their needs and circumstances.

In addition to the material in the main text, you will also see this box in the
body of the module:

Notes to the Teacher


This contains helpful tips or strategies
that will help you in guiding the learners.

As a facilitator you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them
to manage their own learning. Moreover, you are expected to encourage and assist
the learners as they do the tasks included in the module.
For the learner:

Welcome to the Entrepreneurship Self-Learning Module on Customer Needs


and Expectations, and Market Positioning
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time. You
will be enabled to process the contents of the learning material while being an
active learner.

This module has the following parts and corresponding icons:

Expectations - This points to the set of knowledge and skills


that you will learn after completing the module.

Pretest - This measures your prior knowledge about the lesson


at hand.

Recap - This part of the module provides a review of concepts


and skills that you already know about a previous lesson.

Lesson - This section discusses the topic in the module.

Activities - This is a set of activities that you need to perform.

Wrap-Up - This section summarizes the concepts and


application of the lesson.

Valuing - This part integrates a desirable moral value in the


lesson.

Posttest - This measures how much you have learned from the
entire module.
EXPECTATIONS

LEARNING OBJECTIVES: At the end of the lesson, the learners will be able to:

1. Differentiate customer requirement in terms of product


feature and product characteristic.
2. Identify the customer needs and wants and compare
each competing product in terms of its key elements,
benefits and attributes.
3. Identify the logical steps in Market Positioning of the
Product.

PRETEST

Direction: Read each item carefully. Select the letter of the best answer from the
choices given.

1. Which of the following best describes a consumer need?


a. Eating Lunch
b. Ordering food from Jollibee
c. Buying house and lot at Valle Verde
d. Buying clothes from Forever 21
2. Which pertains to the attributes that is added to the product/service
definition to extend the description of each product?
a. Product Brand
b. Product Quality
c. Product Characteristics
d. Product Feature
3. Which of the following example shows a market positioning?
a. Direct selling and multi-level marketing channels?
b. Enervon C tablet is “Anti stress formula”
c. Juices also come in several packaging format
d. Almost every toothpaste that comes out in the market is called “Colgate”
4. Which of the following is TRUE about Market Positioning?
a. The process of classifying customers into groups with different need.
b. The process of communicating the image of the brand into the minds of
consumers.
c. Can carry out the managerial marketing function applicable to any kind of
organization?
d. Is a game plan for the period inclusive of long term and short term
program
5. The following are the elements to be considered in Communicating Brand
Positioning EXCEPT:
a. Labelling
b. Forecasting
c. Advertising
d. Tagline

RECAP
Direction: Identify your target market for the following products.

Products Target Markets


1. Fruit Juice
2. Cosmetic products
3. Furniture’s
4. School Supplies
5. Detergents

LESSON

Ask students to cite at least 3 products that they need and 3 products that
they want?

3 Things I need 3 Things I want


1 1
2 2
3 3

Guide Question:

1. What do you think is the difference between needs and wants?


2. How does needs and wants affect your purchase?
Most of the time people tend to purchase a product/service based on what
they want but less likely of what they need. They eventually want this, then they
want that, while what’s truly beneficial for them might be something totally
different.

At 12:00 pm it is normal for the people to get hungry, food is considered a


consumer need. However, eating at a fast-food for lunch is considered a consumer
want, as these things are not necessary in order to live/survive.

Wants and needs are two different things.

1. A consumer need is something that solves a real or imagined problem. It


is a desire for a product’s or service’s particular use, whether that be
functional or emotional. The need is the driver of the customer's buying
decision. On the other hand,
2. A consumer want is simply something that would be nice to have. It is
the desire for products or services that are not necessary, but which
consumers wish for.

In order to meet these expectations, consumer has their requirement to satisfy


their needs and wants.

Customer Requirement is specific features and characteristics of a


product/service as determined by a consumer.

1. Product Features are the special function of a product/service that is


capable of satisfying the customer needs. Also, it is one of the distinguishing
characteristics of a product/service that helps to boost its appeal to the
targeted potential customer, and it can be used to create a marketing
strategy that will highlight the usefulness of the product/service to its
buyers.
Example: Some ovens include features such as self-cleaning, smooth
stovetops, warming bins, or convection capabilities. The iPhone 11
features an Intel modem chip with Gigabit-class LTE, 2x2 MIMO, and LAA,
Wi-Fi 6 support (802.11ax) with 2x2 MIMO, Bluetooth 5.0, Dual-SIM with
eSIM, and an Apple-designed U1 Ultra Wideband chip that improves spatial
awareness and allows for better indoor tracking.

2. Product Characteristics are the attributes that can be added to the


product/service definition to extend the description of each product. Product
attributes are characteristic of a product/service that will make it different
from other products.
Example: Attributes include size, color, functionality, components and
features that affect the product's appeal or acceptance in the market.

The best way to get people understand what the product is all about is by
keeping its messaging as simple as possible and through the art and science of
Positioning.
The final step in strategic marketing approaches that will assist the
entrepreneur in defining the specific market of the product.

Market Segmentation Market Targeting


Market Positioning

Who is the Market?

Figure 4.1. 2.. The Three Entrepreneurial Marketing Strategies to identify the
market

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).

- Is the process of communicating the image of the brand into the minds of
consumers. The objective is to make the brand stand out in comparison to
its competitors. (So & Torres, 2016, p.60)

Positioning is the act of establishing a strong brand image for a product.


This include telling the market exactly what your product is, who it is for, what
product category it belongs to, what its most essential attributes or benefits are
and what it is not and it is what your products/services can do to them.

Entrepreneurs plan is significantly distinguish their products from competing


products and can give them competitive advantage in their target markets.

Below are some examples of product positions.


1. Mercury Drug is positioned as a drug store that sells new, quality, branded
and generics drugs and health related products: “Nakasisiguro Gamot ay
Laging Bago”
2. Jollibee is positioned in the mind of the consumer as a place that they would
enjoy eating in a fastfood restaurant together with the whole family
especially the children who loves eating Fried chicken and Spaghetti : “Bida
ang Saya”
3. Biogesic Tablet and Syrup are positioned as safe and potent pain reliever
that contains Paracetamol: “ The world safest pain reliever”
When a consumer needs a particular product or service, they will just only think of
what is in their mind of possible brands to purchase. Those brands that he
remembers and recalls easily. The customer will exclude other brands that are not
familiar with them, and have not established in their position in their memory.

Process/Steps in determining the Market position of the product

1. The Entrepreneur determines if the market position is distinct from the


others.
2. The Entrepreneur evaluates the advantages or benefits of every possible
market.
3. The Entrepreneur decides on the market position.

The first logical steps that the entrepreneur must perform in the market positioning
is to determine that the product is truly differentiated from competition primarily in
terms of value and benefits that the customers will gain from it.

Some of the elements to be considered in Communicating Brand


Positioning are:
1. Packaging – is creatively designing and producing the appropriate container
or wrapper of the product.
2. Labelling – contains information about a product display on the packaging.
3. Selling price – is how much the customer pays for the product/services.
4. Advertising – to inform customer about product/services benefits.
5. Brand endorser – companies marketing strategies which involves celebrities
to help promote their products/service.
6. Tagline – a short quote used by business to distinguish them and to make
them more catchy.

Evaluating the benefits of every Market Position


Once the target position in terms of price and quality dimensions has been
evaluated the entrepreneur determine the advantages, benefits and attributes of
the product. There are no specific rules on how many attributes or benefits of the
product must have. It is highly suggested, however, that it must have at least one
attribute which is considered distinct from other products. The Entrepreneur must
strongly promote the said attribute or benefit to the consumers.

Deciding on the Market Position


The last phase of Market positioning after evaluating the benefits is to make
a decision on where to position the product. There are two basic dimensions that
must be seriously considered in deciding the market position of the product. These
are the price and quality.
ACTIVITIES

Activity 1: My Needs and Wants. Directions: Given the following


products/services, identify if it they are categorized as customer needs or wants.

Products Need or Want?

1. Cellphone

2. Education

3. Insurance

4. House

5. Vacation

Activity 2: How and Why: Based on your answer in activity 1, fill out the first
column of the table with the list of products you need or want then in the second
and third column, explain why and how those products satisfy your needs and
wants.

List of Products Need/s or want/s How/Why


that is/are satisfied
1.

2.

4.

5.
Activity 3: Product Hunting. Direction: Visit a grocery store in your area.
Identify the products that you really need and want. Evaluate each product and
analyze its key element including its benefits and attributes by filling out the table
below.

Brand of price tagline brand Benefits attributes


the endorser
product

1.

2.

3.

WRAP-UP

Activity: Paragraph Completion

Direction: Fill in the blanks to complete the paragraph. Choose your answer from
the words written inside the box.

Wants positioning price needs


Differentiated product characteristics Quality

Product features benefits and attribute market positioning

The ___________________is the driver of the customer's buying decision.


On the other hand, the ___________________ is a desire for products or services
that are not necessary, but which consumers wish for. There are two customer
requirement and these are ___________________ which refers to the special
function of the products/service that makes it different from the other and the
other one is the ___________________ which includes size, color, features that affect
the product's appeal in the market.
The best way to get people understand what the product is all about is by
keeping its messaging as simple as possible and through the art and science of
________________.There are process or steps in determining the ________________
of the products. The first logical steps that the entrepreneur must perform is to
determine that the product is truly _________________from competition primarily
in terms of value and benefits. Once the target position has been evaluated the
entrepreneur determine the _________________ of the product. The last phase is to
make a decision on where to position the product. There are two basic
dimensions that must be seriously considered in deciding the market position of
the product. These are the ________and ___________.

VALUING

Activity: Methinks! Express your appreciation of the lesson by answering two


questions with at least 3 to 5 sentences.

1. As a customer, what is the importance of identifying your needs and wants?


2. As an entrepreneur, what is the importance of market positioning?

POSTTEST

Direction: Write True if the statement is correct and False if the statement
is wrong.

_____ 1. The product must not occupy the same place or position being
occupied by the competitor.
_____ 2. A product with more benefits and attributes is hard to sell in the
market.
_____ 3. Market positioning is the process of communicating the image of the
brand into the minds of consumers
_____ 4. The last phase of Market Positioning is to Evaluate the benefits of
every Market Position.
_____ 5. There are two basic dimensions that must be seriously considered in
deciding the market position of the product. These are the price and
quantity.
KEY TO CORRECTION

false 5. quality 10. 5. A


false 4. Price 9. 4. B
true 3. Benefits & attributes
8. 3. B
false 2. Differentiated7. 2. C
true 1. Market positioning
6. 1. A
POST TEST Positioning 5. PRETEST
Product features
4.
Customer wants3.
Characteristics
2. Product
1. Customer need
Wrap Up

References

Aduana,Nick L.,2016. Entrepreneurship in Philippine Setting for SHS. Quezon City:


C&E publishing Inc.

Ilano, AB.,2016. Principles of Marketing.CM Recto Avenue: Rex Bookstore.

Kotler/Armstrong., 2016., Principles of Marketing.,Pearsons.

So, Real C., Torres, Oscar T.2016. Principles of Marketing. Pasig


City: Vibal Group, Inc.
ACKNOWLEDGEMENT

VIDEO/POWERPOINT PRESENTER

VIDEO/POWERPOINT EDITOR

VIDEO/POWERPOINT REVIEWER

SCHOOL SUBJECT CORDINATOR

BUTING SENIOR HIGH SCHOOL


SCHOOL HEAD

PUBLIC SCHOOLS DISTRICT SUPERVISOR

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