Entrepreneurship
Quarter 1 – Module 4
What’s More
Activity 3: Screen Out!
1. What is a market need?
These are the needs and wants of the consumers that has given
them benefit in using the product or service.
2. How does market research help in determining the market need?
Market research help in determining the market need by
understanding the customer, it also provides the information to
make a better decision.
3. What are the basic factors to consider in the market research?
The size of the market, customer profile, geographical and cultural
elements and competitors and segment of the market.
4. How do we choose a product/service to sell?
Think before making a decision and make self-analysis of your
product/service
5. How can we make sure that there’s a market for your business?
Make your customer as judge for your product/service, consider
your category in the competition, focus on repeat business and put
your idea to the test in order to learn what you don’t know about
your product, market and buyer.
What I Have Learned
1. Find market Need and do market Research.
2. Factors to consider in the research are: Size of the market; Customer profile
and similarities; Geographical and Cultural elements; and Segment the
market.
3. Market research assist you in Product development and business Growth.
4. To make a decision is to Think and start it by doing Self-assessment.
What I Can Do
Activity 4: Ideation Process: Product Test and Survey
A. Customer 1
Name (optional) Age 17 Gender Male
5 4 3 2 1
1. What is your first reaction Very Somewhat Neutral Somewhat Very
to the product? positive positive negative negative
2. How could you rate the Very high High Neither Low Very low
quality of the product? quality quality high nor quality quality
low quality
3. How innovative is the Extremely Very Somewhat Not so Not at all
product? innovative innovative innovative innovative innovative
4. When you think about the Definitely Probably Neutral Probably Definitely
product, do you think of it as need need don’t need don’t
need
something you need or
don’t need?
5. How would you rate the Excellent Above Average Below Poor
value for money of the average average
product?
6. If the product were Extremely Very likely Somewhat Not so Not at all
available today, how likely likely likely likely likely
would you be to buy the
product?
7. How likely are you to Extremely Very likely Somewhat Not so Not at all
replace the current product likely likely likely likely
with the new product?
8. How likely is it that you Extremely Very likely Somewhat Not so Not at all
would recommend our new likely likely likely likely
product to a friend or
colleague?
COMMENTS
9. In your own words, what The product itself.
are the things that you like
most about this new
product/service?
10. In your own words, what Maybe the taste and it could be good if they add more
are the things that you available flavors and twist.
would most like to improve
in this new product/service?
B. Customer 2
Name (optional) Age 52 Gender Female
5 4 3 2 1
1. What is your first reaction Very Somewhat Neutral Somewhat Very
to the product? positive positive negative negative
2. How could you rate the Very high High Neither Low Very low
quality of the product? quality quality high nor quality quality
low quality
3. How innovative is the Extremely Very Somewhat Not so Not at all
product? innovative innovative innovative innovative innovative
4. When you think about the Definitely Probably Neutral Probably Definitely
product, do you think of it as need need don’t need don’t
need
something you need or
don’t need?
5. How would you rate the Excellent Above Average Below Poor
value for money of the average average
product?
6. If the product were Extremely Very likely Somewhat Not so Not at all
available today, how likely likely likely likely likely
would you be to buy the
product?
7. How likely are you to Extremely Very likely Somewhat Not so Not at all
replace the current product likely likely likely likely
with the new product?
8. How likely is it that you Extremely Very likely Somewhat Not so Not at all
would recommend our new likely likely likely likely
product to a friend or
colleague?
COMMENTS
9. In your own words, what Very good in taste and different from other cookies
are the things that you like
most about this new
product/service?
10. In your own words, what Improve the taste or texture
are the things that you
would most like to improve
in this new product/service?
C. Customer 3
Name (optional) Age 18 Gender Male
5 4 3 2 1
1. What is your first reaction Very Somewhat Neutral Somewhat Very
to the product? positive positive negative negative
2. How could you rate the Very high High Neither Low Very low
quality of the product? quality quality high nor quality quality
low quality
3. How innovative is the Extremely Very Somewhat Not so Not at all
product? innovative innovative innovative innovative innovative
4. When you think about the Definitely Probably Neutral Probably Definitely
product, do you think of it as need need don’t need don’t
need
something you need or
don’t need?
5. How would you rate the Excellent Above Average Below Poor
value for money of the average average
product?
6. If the product were Extremely Very likely Somewhat Not so Not at all
available today, how likely likely likely likely likely
would you be to buy the
product?
7. How likely are you to Extremely Very likely Somewhat Not so Not at all
replace the current product likely likely likely likely
with the new product?
8. How likely is it that you Extremely Very likely Somewhat Not so Not at all
would recommend our new likely likely likely likely
product to a friend or
colleague?
COMMENTS
9. In your own words, what The affordability of the product
are the things that you like
most about this new
product/service?
10. In your own words, what It would be best if they add more variety of toppings
are the things that you
would most like to improve
in this new product/service?
D. Customer 4
Name (optional) Age 36 Gender Male
5 4 3 2 1
1. What is your first reaction Very Somewhat Neutral Somewhat Very
to the product? positive positive negative negative
2. How could you rate the Very high High Neither Low Very low
quality of the product? quality quality high nor quality quality
low quality
3. How innovative is the Extremely Very Somewhat Not so Not at all
product? innovative innovative innovative innovative innovative
4. When you think about the Definitely Probably Neutral Probably Definitely
product, do you think of it as need need don’t need don’t
need
something you need or
don’t need?
5. How would you rate the Excellent Above Average Below Poor
value for money of the average average
product?
6. If the product were Extremely Very likely Somewhat Not so Not at all
available today, how likely likely likely likely likely
would you be to buy the
product?
7. How likely are you to Extremely Very likely Somewhat Not so Not at all
replace the current product likely likely likely likely
with the new product?
8. How likely is it that you Extremely Very likely Somewhat Not so Not at all
would recommend our new likely likely likely likely
product to a friend or
colleague?
COMMENTS
9. In your own words, what The taste and shape are cute
are the things that you like
most about this new
product/service?
10. In your own words, what Add more available cute shapes
are the things that you
would most like to improve
in this new product/service?
E. Customer 5
Name (optional) Age 35 Gender Female
5 4 3 2 1
1. What is your first reaction Very Somewhat Neutral Somewhat Very
to the product? positive positive negative negative
2. How could you rate the Very high High Neither Low Very low
quality of the product? quality quality high nor quality quality
low quality
3. How innovative is the Extremely Very Somewhat Not so Not at all
product? innovative innovative innovative innovative innovative
4. When you think about the Definitely Probably Neutral Probably Definitely
product, do you think of it as need need don’t need don’t
need
something you need or
don’t need?
5. How would you rate the Excellent Above Average Below Poor
value for money of the average average
product?
6. If the product were Extremely Very likely Somewhat Not so Not at all
available today, how likely likely likely likely likely
would you be to buy the
product?
7. How likely are you to Extremely Very likely Somewhat Not so Not at all
replace the current product likely likely likely likely
with the new product?
8. How likely is it that you Extremely Very likely Somewhat Not so Not at all
would recommend our new likely likely likely likely
product to a friend or
colleague?
COMMENTS
9. In your own words, what I like the taste and it is not the usual taste of cookies. It’s
are the things that you like like it’s extraordinary!
most about this new
product/service?
10. In your own words, what The packaging and the size.
are the things that you
would most like to improve
in this new product/service?
Activity 4. Product Test Results
Scale 5 4 3 2 1 Total Weighte Description
(Weight) Product d mean
1. What is your first IIII I 0 0 0 5 4.20 Somewhat
Tally
reaction to the product? positive
x Weight 5 5 5 5 5 25
Product 20 5 0 0 0 25
2. How could you rate II III 0 0 0 5 High
Tally
the quality of the quality
product? x Weight 5 5 5 5 5 25
Product 10 15 0 0 0 252
3. How innovative is the II II I 0 0 5 Somewhat
Tally
product? innovative
x Weight 5 5 5 5 5 25
Product 10 10 5 0 0 25
4. When you think about III I I 0 0 5 Definitely
Tally
the product, do you need
think of it as something x Weight 5 5 5 5 5 25
you need or don’t need? Product 15 5 5 0 0 25
5. How would you rate IIIII 0 0 0 0 5 Above
Tally
the value for money of average
the product? x Weight 5 5 5 5 5 25
Product 25 0 0 0 0 25
6. If the product were Tally II III I 0 0 5 Very likely
available today, how 5 5 5 5 5 25
x Weight
likely would you be to
Product 10 15 0 0 0 25
buy the product?
7. How likely are you to Tally III I I 0 0 5 Very likely
replace the current 5 5 5 5 5 25
x Weight
product with the new
Product 15 5 5 0 0 25
product?
8. How likely is it that Tally IIII I 0 0 0 5 Very likely
you would recommend 5 5 5 5 5 25
x Weight
our new product to a
Product 20 5 0 0 0 25
friend or colleague?
Scale and Description:
RANGE Item 1 Item 2 Item 3 Item 4 Item 5 Items 6,7,8
Very Very low Not at all Definitely Not at all
1.00 – 1.80 Poor
negative quality innovative don’t need likely
Somewhat Low Not so Probably Below Not so
1.81 – 2.60
negative quality innovative don’t need average likely
Neither
Somewhat Somewhat
2.61 – 3.40 Neutral high nor Neutral Average
innovative likely
low quality
Somewhat High Very Probably Above
3.41 – 4.20 Very likely
positive quality innovative need average
Very Very high Extremely Definitely Extremely
4.21 – 5.00 Excellent
positive quality innoe need likely
Comments: (Copy as written by the customers)
9. In your own words, 1. The product itself.
what are the things
that you like most
2. Very good in taste and different from other cookies
about this new
product/service?
3. The affordability of the product
4. The taste and shape are cute
5. I like the taste and it is not the usual taste of cookies. It’s like
it’s extraordinary!
10. In your own 1. Maybe the taste and it could be good if they add more
words, what are the available flavors and twist.
things that you would
most like to improve in
2. Improve the taste or texture
this new
product/service?
3. It would be best if they add more variety of toppings
4. Add more available cute shapes
5. The packaging and the size.
REFLECTION: Answer the items honestly and give your reasons concisely.
YES NO REASON
1. Is your product/service innovative? / Customers love my product
2. Is there quality in your / The taste is extraordinary
product/service?
3. Is your product/service answer the / It’s not that in demand
market need?
4. Is the price value of your product / It affordable
reasonable?
5. Is your product recommendable to / Because anyone can eat my
other customers? product
6. Can you compete with other similar / Because of the taste, quality
products/services? and price
7. What do you think are the best / Taste
features of your product/service as
commented by your customers?
8. What do you think needs / Packaging
improvement in your
product/service as commented by
the customers?
ASSESSMENT
Part I Part II
1. C 1. / 6. X
2. A 2. / 7. X
3. A 3. / 8. /
4. B 4. X 9. /
5. D 5. X 10. /
Additional Activities
