Technology and

Livelihood Education
Agri – Fishery Arts
(Agricultural Crops Production)
Quarter 1 - Module 2, Lesson 3, Week 4
Marketing Agricultural Products
 10
Technology and
Livelihood Education
Agri – Fishery Arts
(Agricultural Crops Production)
Quarter 1 - Module 2, Lesson 3, Week 4
Marketing Agricultural Products

This instructional material was collaboratively developed and reviewed

by educators from public schools. We encourage teachers and other
education stakeholders to email their feedback, comments, and
recommendations to the Department of Education at
[email protected].

We value your feedback and recommendations.

Department of Education-Division of Bukidnon ●

Republic of the Philippines
 What I Need to Know

At the end of this module, the students are expected to acquire the following competencies:

LO3. Select a business idea based on the criteria and techniques

provided for the agricultural crop production market.
3.1 Identify potential business to select from;
3.2 Enumerate the various criteria and steps to selecting a
business idea;
3.3 Apply the criteria/steps in order to select a viable business
idea; and
3.4 Identify a business idea based on the criteria/steps provided.

Topic Code: TLE_EM9-12-IIIO-3

 Lesson
The Market – Selecting Business Idea
3

What I Need to Know

After going through this lesson, you are expected to:

1. Identify potential business ideas to select from;
2. Enumerate the various criteria and steps in selecting a business idea
3. Apply the criteria/steps in order to select a viable business idea; and
4. Identify a business idea based on the criteria/steps provided.

What I Know

Pre-test. Before going any further, let us try if you know something about this topic!

Matching Type
Directions: Identify as to what potential business idea has been described with the following
sentences below. Choose your answer from the choices inside the box. Write the letter of the
correct answer on the space provided for before each item.

A. examine the existing goods and services

B. examine the present and future needs
C. examine how the needs are being satisfied
D. examine the available resources around you
E. read magazines, articles on new products and technology

_____1. A business can be started out of available raw materials by selling them in raw form
and by processing and manufacturing them into finished products.

_____2. Look and listen to what the customers, institution, and communities are missing in
terms of goods and services.

_____3. This is a very good business opportunity when there is absolute lack of supply of a
pressing market demand.

_____4. Business ideas may also be generated by examining what goods and services are
sold outside the community.

_____5. There are many ways of improving a product from the way it is crafted to the time it
is packed and sold.

_____6. The internet serves as a library where you may browse and surf on possible
businesses.
_____7. The business firm needs for raw materials, maintenance, and other services such
as selling and distribution are good sources of ideas for business

_____8. Business ideas can come from your own skills.

_____9. It will also guide you on how to put the right product in the right place, at the right
price and at the right time.

_____10. You introduce new ways of using the product, making it more useful and
adaptable to the customers many needs.

What’s In

Now let us review first what you have learned from Lesson 2.

Directions: Write the eight steps/stages of Product Development

1. ____________________________________________

2. ____________________________________________

3. ____________________________________________

4. ____________________________________________

5. ____________________________________________

6. ____________________________________________

7. ____________________________________________

8. ____________________________________________

What’s New

Generating or developing a business idea is not a simple process. Some thinkers

come up with a bunch of business ideas, while some are without ideas. There are two
problems that commonly arise: first is the excessive generation of ideas that makes one
remain in the dreaming stage, and second, when one fails to generate. In generating and
selecting ideas that will be translated into a viable business, one optimal way is to have a
systematic approach.

Now that you have read some of the important things to consider to succeed in any
business, you are now ready to go deeper about Market – Selecting Business Idea.
 What Is It

How to Generate Ideas for Business

Here are some basic important considerations that you may use to generate possible ideas
for business:

1. Examine the existing goods and services. Are you satisfied with the product? What
do most people who use the product say about it? How can it be improved? You
introduce new ways of using the product, making it more useful and adaptable to the
customers that need it until the time it is packed and sold. You are doing an innovation
when you are improving the product. You can also do an intervention by introducing an
entirely new product to replace the old one.
Business ideas may also be generated by examining what goods and services are
sold outside the community. Very often, most products are sold in a form that can still be
enhanced or improved.

2. Examine the present and future needs. Look and listen to what the customers are
missing in terms of goods and services from the institution and communities.
Sometimes, these needs are already obvious and felt at the moment. Other needs are
not that obvious because they can only be felt in the future in the event of certain
developments in the locality. For example, a town will have its electricity facility in the
next six months. Only by that time will the entrepreneur could think of agricultural
products which are made using electrically – powered tools or equipment.

3. Examine how the needs are being satisfied. Market demand refers to the needs for
the products and services. To satisfy these needs is to supply the products and services
that meet the demands of the market. The term market refers to whoever will use the
product or services, and these include people or institutions such as other businesses,
establishments, organizations, or government agencies.
This is a very good business opportunity when there is absolute lack of supply of a
pressing market demand. Businesses or industries in the locality also have needs for
goods and services. Their needs for raw materials, maintenance, and other services
such as selling and distribution are good sources of ideas for business.

4. Examine the available resources around you. Observe what materials or skills are
available in abundance in your area. A business can be started out of available raw
materials by selling them in raw form and by processing and manufacturing them into
finished products. For example, in a copra – producing town, there will be many coconut
husks and shells available as “waste” products. These can be collected and made into
coco rags/doormat and charcoal bricks; then sold profitably outside the community.
A group of people in your neighborhood may have some special skills that can be
harnessed for business. For example, women in Impasugong, Bukidnon possess
weaving skills using Abaca fibers that have been passed on from one generation to the
next. There association for women set up weaving businesses to produce bags,
decorative items and various souvenir items for sale to tourists and lowland
communities.
 Examples of Abaca fiber products of Impasugong Women’s Association

Business ideas can come from your own skills. The work and experience you
may have in agricultural arts, industrial arts, home economics, and ICT classes will
provide you with business opportunities to acquire the needed skills which will earn
for you extra income, should you decide to engage in income generating activities.
With your skills, you may also try on doing things during your spare time. Many
products were inverted this way.

5. Read magazines, news articles and other publications on new products and
techniques or advances in technology. You can pick up new business ideas from
Newsweek, Reader’s Digest, Business Magazines, and the likes. The internet serves as
a library where you may browse and surf on possible businesses. It will also guide you
on how to put the right product in the right place, at the right price and at the right time.

Key Concepts of Selecting a Business Idea

Once you have entered on identifying the business opportunities, you will eventually
see that there are many possibilities available for you. It is very unlikely that you will have
enough resources to pursue all of them at once. Which one will you choose?

You have to select the most promising one from among a hundred and one ideas. It
will be good to do this in stages:

FIRST STAGE – Screen your ideas to narrow them down to about first choices.
SECOND STAGE – Trim down the five choices into two options.
FINAL STAGE – Choose between the two and decide which business idea is worth
pursuing.

In screening your ideas, examine each one in terms of the following factors:

1. How much capital is needed to put up the business?

2. How big is the demand for the product? Do many people need this product and will
continue to need it for a long time?
 3. How is the demand met? Who are processing the products to meet the need
(competition or demand)? How much of the need is now being met (supply)?
4. Do you have the background and experience needed to run this particular business?
5. Will the business be legal, not going against any existing or foreseeable government
regulation?
6. Is the business in line with your interest and expertise?

Your answers to these questions will be helpful in screening which ones from among
your many ideas are worth examining further and worth pursuing.

What’s More

Enumeration

Directions: Supply the needed information on the following items below. Write your
answers on the blank spaces.

1 – 4. What does SWOT stands for?

1. S - _______________
2. W - _______________
3. O - ________________
5. T - ________________

5 – 6. What are the common problems that will arise in generating ideas for
business?

5. ___________________________________
6. ___________________________________

7 – 11. What are the possible ideas on how to generate business?

7. ____________________________________________
8. ____________________________________________
9. ____________________________________________
10. ___________________________________________
11. ___________________________________________

12 – 14. What are the three stages in selecting a business idea?

12. ___________________________________________
13. ___________________________________________
14. ___________________________________________

15. What are you exactly been doing if you are improving or enhancing
a product? __________________________________________
 What I Have Learned

In generating a business idea, you should first identify what type of business is
suited to your business idea. You should analyze and scan the potential environment study
the marketing practices and strategies of your competitors, analyze the Strengths,
Weaknesses, Opportunities, and the Threats (SWOT) in your environment to ensure that
the products/goods and service you are planning to offer will be patronized within the easy
reach by your target markets/consumers.

Bear in mind these simple rules for successful SWOT analysis:

 Be realistic about the strengths and weaknesses of your business when conducting
SWOT analysis.

 SWOT analysis should distinguish between where your business is today, and where
it could be in the future.

 SWOT should always be specific. Avoid any grey areas.

 Always apply SWOT in relation to your competition i.e. better than or worse than your
competition.

 Keep your SWOT short and simple, Avoid complexity and over analysis

 SWOT is subjective.

What I Can Do

Fill – out the table

Directions: In generating a business idea, environmental scanning is very important. Utilize
the SWOT analysis table below to list all your observations.
Strength (S) Weaknesses (W)
- -
- -
- -
- -
- -

Opportunities (O) Threats (T)

- -
- -
- -
- -
- -
 Assessment

Post test

Matching Type
Directions: Identify as to what potential business idea has been described with the
following sentences below. Choose your answer from the choices inside the box. Write the
letter of the correct answer on the space provided for before each item.

A. examine the existing goods and services

B. examine the present and future needs
C. examine how the needs are being satisfied
D. examine the available resources around you
E. read magazines, articles on new products and technology

_____1. A business can be started out of available raw materials by selling them in raw
form and by processing and manufacturing them into finished products.

_____2. Look and listen to what the customers, institution, and communities are missing in
terms of goods and services.

_____3. This is a very good business opportunity when there is absolute lack of supply of a
pressing market demand.

_____4. Business ideas may also be generated by examining what goods and services are
sold outside the community.

_____5. There are many ways of improving a product from the way it is crafted to the time it
is packed and sold.

_____6. The internet serves as a library where you may browse and surf on possible
businesses.

_____7. The business firm needs for raw materials, maintenance, and other services such
as selling and distribution are good sources of ideas for business.

_____8. Business ideas can come from your own skills.

_____9. It will also guide you on how to put the right product in the right place, at the right
price and at the right time.

_____10. You introduce new ways of using the product, making it more useful and adaptable
to the customers many needs
 Additional Activity

Group Task
Directions: In order to deepen your understanding of the lesson, work by pair or in trio,
perform the following tasks:

1. Read books, magazines, newspaper or watch videos in Youtube with any of the
following topics:
A. Steps in selecting a business idea
B. Criteria of a viable business idea
C. Benefits of a good brand
D. Ways of developing a product

2. Write a short narrative report about the article you had read or the video you
watched. In at least 3 paragraphs highlighting the “aspect” that intensifies your
knowledge of product development.

Great job! You may now proceed to the next lesson.

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