Republic of the Philippines

Department of Education
N a t i o n a l C a pi t a l Re g i o n
Sc h o o l s D i v i s i o n O f f i c e o f La s Pi ñ a s C i t y

NAME: ___________________________________________ Score: ___________________

GRADE & SECTION __________________________ Teacher: ___________________

MODULE IN ABM12
ENTREPRENEURSHIP
Third Quarter
Week 6

Select the Best Product or Service that will meet the Market Need
Lesson 6

What I Need to Know

1. .The learner selects the best product or service that will meet the market need
2. The learner understands the value proposition for the best product and service.
3. The learner considers competition in the market that affects product offerings
Learning Competencies (Mga kasanayang pagkatuto)
Select the best product or services that will meet the market need

Code: CS_EP11/12ENTREP-Od-6

Let’s Recall (Balikan natin)

Analyze the picture and fill the missing letters in the

boxes below.

Let’s Understand (Pag-aralan natin)

Selection of the best product or service that will meet the market need
After screening the proposed solution based on viability, profitability and customer
requirements, the products or services that will meet the needs of the market are affected by Market segment
decision, product mix decisions, product specifications, positioning and communication decisions (3G
ELEARNING. 2015). To better understand it’s application, it is itemized and applied in the locality below.
Market segment decision - It is a decision on product or services considering the market group or segment. It is
important that there is a demand for the product or services to be created that will meet a certain segment. It is
discussed in week four about analyzing market needs and some companies are doing it through market research
and surveys.
Product mix decisions – Product varieties for a target market to ensure market need is solved. there can be
changes with the design, color, texture etc. but with the same content to create varieties to choose from. This
will be further discussed on week 7-9 for the marketing mix and on Quarter 2 for creating a prototype product.
Product specifications - Some customers especially in the industry need exact specification and other detail for
the product. This involves the measurements required by the customer related to size, shape, materials or
composition and including its description which will be discussed in Quarter 2. To achieve the most quality

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product that will meet the specification of the customer should have a good production plan, resources needed
which composed of 6 M’s of management (Man, machine, method, materials, money and management)
Positioning and communication decisions – It is how you position your products to your customers. You align
your product to the minds of your customers creating an image that fits their needs. It can be related with how
you advertise your product to the customer. This is the result of the market research done on week 4. Some
companies invest on research through surveys, interviews and product testing to know the needs of the
customers and then they create a product that will answer their problems.
Selecting the best product that can be offered to a market should satisfy a want or need, or else no one
will buy it. In retailing, products are called merchandise. In manufacturing, products are called finished goods
which came purchased raw materials.
The best product can be defined as one that satisfies the needs of the customers. Satisfaction can be
physiological, economic, social and psychological(3G ELEARNING, 2015)
The satisfactions aspects of the customer can be as follows:
1. Physiological satisfactions - These are needs for survival like “need for sleep, food air and
reproduction”(Study.com 2015). During the pandemic of covid 19, physiological satisfaction is enough
for the low level income citizens of the country. Everybody should stay at home and only the necessary
for survival should be bought outside the house.
2. Economic satisfactions - Customers want to have a guaranteed good value for their money. It can also
be connected with the price and quality of the product which will be discussed further on week 7 - 8 for
the marketing mix decisions
3. Social satisfactions - These are related with how the customer deals with other people or society with
its approval. A product will be best for these people if it will be recommended by friends
4. Psychological satisfactions - It includes feelings and emotions to the customer. A best product for
these customers are those things that are associated with their positive and negative experiences,
memories of their youth and love.
Understanding the value proposition for the best product and service

Value Proposition
“A value proposition is a promise of value to be delivered. It’s the primary reason a prospect should
buy from you”. (Laja.n.d.) The best product that can be offered should be valued by the customer. When you
say best product, it should have the quality the customer desired or expected accompanied by the company's
promotional drive which will be discussed deeply in the marketing mix for week 7-8 and Quarter 2. Having the
skills gathered in your Senior High School if you are on Tech Voc or Academic strand, you can have the basic
skills needed to start a business but in order to become successful, you need to improve it. First business can be
focusing on your location or having online business that will cater near your vicinity. Fast delivery and newly
baked bread which is still hot can be your value to the customer if you have a bakery business. Variety of
products can also be a value to the customer because of convenience on their part. Selecting the best product is a
product that can be done efficiently with quality and service. This is related with the “four types of
satisfaction”(3G ELEARNING 2015) mentioned above. From the book Entrepreneurship by Josiah Go and
Chiqui Escareal-Go Potential compelling value propositions can be “Better, Faster, Cheaper, Closer, Larger or
Smaller, Easier, Rarer, Prestige and Different”(Go, 2018) compared to that of the competitors.
Considering competition in the market that affects the best product and other offerings
Market competition
“Competition is the rivalry between companies selling similar products and services with the goal of
achieving revenue, profit, and market share growth”(Carnrite. 2016) Products created may have similarity with
other competitors and entrepreneurs should be well aware that they are not alone in the business. Competitors
can be with the directly similar with the product being offered and can be a threat to the business. Another type
can be a substitute product that can be used in replacement with your offered product. The entrepreneur should
know that without a customer or market to patronize the product can be a threat to the business. The best
product should be marketable and can compete with the
similar products and its substitutes. The next topic for
week 7-9 will emphasize the
marketing mix that will help
business become successful in the
competition.

Let’s Apply (Pagyamanin)

Activity 1 (Gawain 1)
Choose the item inside the box that best apply with the
situations below it.

A. Market segment decision C. Product specifications

B. Product mix decisions D. Positioning and communication decisions
__1. Products created by John are dedicated for male customers only.
__2. The bakery shop products displayed by Christy in her store has an elegant packaging but higher priced
__3. Variety of products is the best way to cater customers of all ages.
__4. The buyer is very strict with the precise measurements of raw materials
__5. The sportswear product is dedicated for teens only

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__6. Products sold to customers in Airlines are usually priced higher.
__7. The company should think of additional products to offer to increase market retention.
__8. The size, weight and materials used is identified by the customer
__9. They are selling low priced products because majority of their customers are students
__10. Majority of customers are females so they started selling feminine clothes also.
Activity 2 (Gawain 2)
Choose among the different aspects of satisfaction of customers best fit with the products below it.
A. Physiological satisfactions B. Economic satisfactions C. Social satisfactions D.
Psychological satisfactions
__1. Bread in the bakery __6. Rose plant
__2. Ukay-Ukay __7. Gold necklace
__3. Ford car __8. Low priced T.V.
__4. Black rice __9. Cherie mobile phone.
__5. Goldilocks cake __10. Slightly used car

Note:(Tandaan):
The best product for your business satisfies the needs of your customers. Each need is a corresponding
product to be created.

Let’s Analyze - (Subukin natin)

Matching type
Match with the situations of the left by putting the letters provided in the right column for the
corresponding potential compelling value propositions
___1. Customers in the locality A. Better
___2. Lower prices than other similar products B. Faster
___3. Capability to deliver quickly C. Cheaper
___4. Higher quality D. Closer
___5. New innovation E. Larger
___6. Hard to operate F. Easier
___7. Flexible service G. Rarer
___8. The only choice F. Prestige
___9. Wide variety G. Different
__10. Good image H. None of Value

Let’s Create- (Tayain natin)

Fill the necessary information in the created business plan from week 2 format that will be
presented to the teacher before you proceed to week 7.

References

Freepik Company. (2020). Happy cute kid girl think choose food Premium Vector. cartoon drawing. Retrieved
from
https://www.freepik.com/premium-vector/happy-cute-kid-girl-think-choose-food_5881390.htm

Pienaar, Danie, Spoor &.Fisher, National small business chamber. (2020). Gaining a
competitive advantage in a oligopolistic market. Drawing image. Retrieve from.
https://www.thesmallbusinesssite.co.za/2017/05/24/gaining-competitive-advantage-oligopolistic-
market/

Omniconvert. (2020). What is UVP(Unique Value proposition)? Omniconvert. Retrieved

from. https://www.omniconvert.com/what-is/uvp-unique-value-proposition/

Google.com. (2020). Physiological needs-google search. Retrieved from.

https://www.google.com/search?q=physiological+needs&oq=Physiologica&aqs=chrome.1.0l2j69i
57j0l5.9385j1j7&sourceid=chrome&ie=UTF

Google.com. (2020). Psychological satisfaction-google search. Retrieved from.

https://www.google.com/search?q=psychological+satisfaction&oq=psychological+satisfaction&aq
s=chrome..69i57j0l7.17111j1j7&sourceid=chrome&ie=UTF-8-8

Laja, Peep, (2019). How to create a unique value proposition-with examples. Retrieved
from. https://cxl.com/blog/value-proposition-examples-how-to-create/

Google.com. (2020). Market competition-google search. Retrieved from.

https://www.google.com/search?q=market+competition&oq=market+competion&aqs=chrome.1.
69i57j0l7.12746j0j7&sourceid=chrome&ie=UTF-8

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What is Competition in Marketing? - Definition & Types. (2016, February 22). Retrieved
from https://study.com/academy/lesson/what-is-competition-in-marketing-definition-
types-quiz.html

Morato Jr., Eduardo A., (2016). Entrepreneurship for K-12 Education. Rex Bookstore
Go, Josiah and Go, Chiqui Escareal. (2018). Entrepreneurship, Starting an enterprise,
Having an innovation mindset. Josiah and Carolina Go foundation, Inc.

3G Elearning. (2015). Marketing basics. 3G Elearning FZ LLC

(Cut this portion to be submitted to your adviser)

Name: ____________________________________ Grade & Section: _____________

Teacher: ___________________________________ Date: ________________

Let’s Try (Evaluation)

Multiple Choice: Choose the best answer for the questions provided
below
1. Decisions for Product varieties for a target market to ensure market need is
solved.
A. Market segment B. Product mix C.Product specifications D.
Positioning and communication
2. It is a decision on product or services considering the market group or
segment.

A. Market segment B. Product mix C.Product specifications D.

Positioning and communication
3. You align your product to the minds of your customers creating an image that
fits their needs.

A. Market segment B. Product mix C.Product specifications D.

Positioning and communication
4. This involves the measurements required by the customer related to size,
shape, materials or composition and including its description

A. Market segment B. Product mix C.Product specifications D.

Positioning and communication
5. These are needs for survival like “need for sleep, food air and reproduction

A. Physiological B. Economic C. Social D. Psychological

6. It includes feelings and emotions to the customer.

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 A. Physiological B. Economic C. Social D. Psychological

7. These are related with how the customer deals with other people or society
with its approval

A. Physiological B. Economic C. Social D. Psychological

8. Customers want to have a guaranteed good value for their money

A. Physiological B. Economic C. Social D. Psychological

9. It is a promise of value to be delivered

A. Market competition B. Positioning C. Value proposition D.

Segmentation

10. It is considered as market rivalry between companies selling similar products

and services with the goal of achieving revenue, profit, and market share
growth

A. Market competition B. Positioning C. Value proposition D.

Segmentation

____________________________________
Signature of Parent over printed name