Lesson 3

Recognize Potential
Market
FSHNRCANIIG
1. It acquires distribution centers

through the franchisees or the
affiliated dealers.
ACTIVITY 5
ADEEHILPRSS
2. It is an establishment
authorized to buy and sell specific
goods, especially motor vehicles.
DCEIRT EIGLLNS
3. It involves distributors
selling directly to buyers.
DSIIRTHSIROUBTP
4. It is a franchise granted by a
manufacturer or company to
market its goods especially at
wholesale in a particular area.
ALLMS BEISUSNS
5. It is common in neighboring
areas with the least in investment
and asset.
Activity 5.2. Rewrite each sentence properly and
completely by appropriately inserting the word
MARKET in place. Write each correct answer clearly in
a separate sheet.
1. a place brings buyer and seller in the same location.
___________________________________________________________________________
2. exists whenever buyer and seller come together.
___________________________________________________________________________
3. virtual are done through telecommunications or the internet.
___________________________________________________________________________
4. stores are example of a physical.
___________________________________________________________________________
5. potential is about possible customers.
_________________________________________________________________________________________
6. telecommunications or internet is a non-physical.
____________________________________________________________________
7. keep customers and identify your new potential.
____________________________________________________________________
8. a potential is part of the population with interest to buy a good or service.
____________________________________________________________________
9. study buyers and competitors as your analysis.
____________________________________________________________________
10. analyze to study the on customers and competitors.
____________________________________________________________________
Activity 6. Observe and recall about the details of your immediate
neighborhood including your household.
Answer each question based on the details of your own place. Write
your answer clearly in a separate sheet of paper.
1. How many households do you recall? _______

2. What common needs can you identify in your place? _______
3. Which need can you match with your business idea? _______
4. How many in each household can pay for products and services? __
5. How many registered businesses are in the area? ________
6. How many of these licensed businesses are possible competitors of the business
idea you thought of? ________
 Recognizing a potential market is a crucial
aspect of business strategy and planning.
Understanding your target market helps
businesses tailor their products, services, and
marketing efforts to meet the specific needs and
preferences of their customers.
 Here are some key steps and considerations for
recognizing a potential market:
1. Market Research:
•Conduct thorough market research to
gather data on industry trends, consumer
behavior, and competitors.
•Use both primary and secondary research
methods, including surveys, interviews,
focus groups, and analyzing existing market
reports.
MARKET
 is a physical place where buyers and

sellers come together.
2 TYPES OF MARKET
1.Physical Market
Those shopping malls, department stores, and
retail stores
2.Non-Physical Market
are done through telecommunications or the
internet
Potential market
 is that part of the total population that
has shown interest in buying a product
or service.
 it simply means possible customers.
Keep this in mind.
1. The Potential market is the part of the population that

show interest in your product or business.
2. A definition of market says that a market exists
whenever the buyer and seller come together.
3. Possible customers are your potential market.
2. Identify Customer Needs:
•Understand the needs, preferences, and
pain points of potential customers.
•What problems are they trying to solve?
•What are their desires and aspirations?
3. Demographic Analysis:
•Consider demographics such as age,
gender, income, education, and location.
Understanding the characteristics of your
target audience helps in tailoring your
offerings.
4. Psychographic Analysis:
Explore the psychographics of your

potential market, including lifestyle, values,
interests, and attitudes. This information
helps in creating a more nuanced marketing
strategy.
5. Competitor Analysis:
•Analyze existing competitors in the
market to identify gaps or areas where
your business can differentiate itself.
•Assess their strengths, weaknesses,
opportunities, and threats (SWOT
analysis).
Remember that recognizing a potential
market is an ongoing process. Markets
evolve, and businesses need to adapt to
changes in consumer behavior,
technology, and the competitive
landscape. Regularly revisiting and
updating your market analysis is
 Entrepreneurs make an economic wealth by
providing products and services must have a
rate in order to create wealth. Otherwise, they
become wasted. One principle is, “not to sell
waste to consumers but only valuable
products and services” anything of no value to
anybody is definitely a waste.
Product
 is a tangible or intangible item that is built or
produced to satisfy the needs of a certain group of
people. To ensure the right product, an entrepreneur
must know the demand of their consumer in the
market.
Services
 are a special form of product which
consists of activities, benefits or
satisfactions offered for sale that are
intangible and do not result in the
ownership of anything.
Differences between Products and Services
Identifying and Meeting Customer Needs
 Customer needs are the named and unnamed needs of

customers when they come in contact with the
different business establishments or when they search
for the solutions which businesses provide.
DEFINITION OF TERMS:
1. Consumption - the amount of something that people and other entities
use.
2. Acquisition - taking possession of an asset by purchase.
3. Customer loyalty - indicates the extent to which customers are devoted to
a company’s products or services.
4. Customer satisfaction - measures how well the expectations of a
customer concerning a product or service provided by your company have
been met.
5. Customer service - meeting the needs and desires of any customer.
6. Customer feedback - is information provided by clients about whether they
are satisfied or dissatisfied with a product or service.
7. Stakeholders - is a party that has an interest in a company and can either
affect or be affected by the business.
8. Expenditures - funds used by a business to attain new assets, improve
existing ones, or reduce a liability.
9. Tangible - capable of being perceived especially by the sense of touch.
10. Intangible - unable to be touched or grasped; not having physical presence.
Activity 7.2. Write the answer clearly in a separate
sheet. Only one (1)
answer per number.
1.What is 2.What is 3.What

business idea
it that it that
can you think
your your of from both
neighbors neighbors the common
like in dislike in like and
dislike?
common? common?
Activity 7.1.Enumeration and brief essay. Write
answers briefly and clearly in a separate sheet of
paper. Fill out with details.
1.Two (2) 2.Two (2)
examples examples
Physical market Non-Physical
market
3.One reason why

it is your choice?
Criss Cross Puzzle. Read and analyze the clues below and
write the correct word on the blocks across and down.
Across
2 - measures how well the expectations of a customer concerning a product or service provided by a company have been met.
4 - taking possession of an asset by purchase.
7 - is a party that has an interest in a company and can either affect or be affected by the business.
9- the amount of something that people and other entities use.
10- is information provided by clients about whether they are satisfied or dissatisfied with a product or service.
Down
1- funds used by a business to attain new assets, improve existing ones, or reduce a liability.
3 - unable to be touched or grasped; not having physical presence.
5- indicates the extent to which customers are devoted to a company’s products or services.
6- meeting the needs and desires of any customer.
8 - capable of being perceived especially by the sense of touch
I.MATCHING TYPE. Column A contains list of
products and Column B contains list of services.
Match as to which service in Column B is related to
the product in Column A. Write the letter of your
answer in the space provided.
Products
Services
_____1. Car A. Usability
and durability
_____2. Xerox machine B. Repairs and maintenance
_____3. Smart phone C. Leasing or pay per copy
_____4. Credit card D. Entertainment
_____5. Organic products E. Consistent quality
_____6. Television F. Bills payment
_____7. Accessories G. Healthy lifestyle
_____8. Books H. Boost immune
system
_____9. Vitamins I. Accuracy of
information
____10. Basic goods J. Fashionable designs
K. Deposit and withdrawal
L. Refreshing
Enumeration and brief essay. Write answers briefly
and clearly in a separate sheet of paper. Fill out
with details.
11-12.Two (2) 13-15.Two (2)

examples examples
Physical market Non-Physical
market
Rewrite each sentence properly and completely by
appropriately inserting the word MARKET in place.
Write each correct answer clearly in a separate sheet.
16. a place brings buyer and seller in the same location.

___________________________________________________________________________
17. exists whenever buyer and seller come together.
___________________________________________________________________________
18. virtual are done through telecommunications or the internet.
___________________________________________________________________________
19. stores are example of a physical.
___________________________________________________________________________
20. potential is about possible customers.
_________________________________________________________________________________________
21. telecommunications or internet is a non-physical.
____________________________________________________________________
22. keep customers and identify your new potential.
____________________________________________________________________
23. a potential is part of the population with interest to buy a good or service.
____________________________________________________________________
24. study buyers and competitors as your analysis.
____________________________________________________________________
25. analyze to study the on customers and competitors.
____________________________________________________________________
26-28. Give three examples of a Product
29-30. Two examples of Services
Assignment
 Draw your propose product or
services/business.
 Draw it in a 1 whole sheet of paper.

Lesson 3

Uploaded by

Copyright:

Available Formats

Lesson 3

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Lesson 3

Uploaded by

Copyright:

Available Formats

Recognize Potential

1. It acquires distribution centers

1. How many households do you recall? _______

 is a physical place where buyers and

1. The Potential market is the part of the population that

Explore the psychographics of your

 Customer needs are the named and unnamed needs of

1.What is 2.What is 3.What

3.One reason why

11-12.Two (2) 13-15.Two (2)

16. a place brings buyer and seller in the same location.

You might also like