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Entrep W5

1. The document provides an overview of a 12th grade entrepreneurship lesson on market analysis. 2. It discusses methods for generating new products/services like focus groups and brainstorming. 3. A survey of market size and value is presented including sample questions to analyze consumer preferences, demand, and market value. 4. A SWOT analysis template is given as an example to identify strengths, weaknesses, opportunities, and threats for a new business compared to competitors.

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claudine
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22 views1 page

Entrep W5

1. The document provides an overview of a 12th grade entrepreneurship lesson on market analysis. 2. It discusses methods for generating new products/services like focus groups and brainstorming. 3. A survey of market size and value is presented including sample questions to analyze consumer preferences, demand, and market value. 4. A SWOT analysis template is given as an example to identify strengths, weaknesses, opportunities, and threats for a new business compared to competitors.

Uploaded by

claudine
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GRADE LEVEL: 12 WEEK: 5

SUBJECT: ENTREPRENEURSHIP LESSON: 1


TOPIC: MARKET ANALYSIS
OBJECTIVES:
1. Identify the Methods of Generating New Products/Services
2. Discuss the Survey of Market Size and Value
3. Develop a SWOT ANALYSIS

LESSON PROPER

Methods of Generating New Products/Services

 Focus Group – a moderator leads group of 8-14 participants through an open, in depth discussion in a directive or
nondirective manner. This is an excellent method for generating and screening ideas and concepts.
 Brainstorming–goods ideas emerge when the brainstorming effort focuses on a specific product or market area.

Survey of Market Size and Value


 A different set of questions is needed when assessing the size of the market for particular type of product and the value of the
market (the amount of money spent on each month or year).
 The information gathered from potential consumers can be analyzed by the entrepreneur to get good idea of the quality
characteristics of the product that consumer prefer, the total demand for the product and the total value of the market.

Sample Questionnaire about market size and value


Questions Answers
About the market size:
How often do you buy this product? Daily Weekly Monthly
Do you buy different amounts at different times of the year?
When are the times you buy the most?
How much do you buy each time? ____pc.
When are the times you buy the least?
What is the amount of food in the pack?

SWOT ANALYSIS – a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its
external opportunities and threats.

Example of a SWOT ANALYSIS of a New Business in Relation to Competitors

My proposed business Competitor A Competitor B


Production likely to be sited close to Good brand image and range of Product is cheaper than A and
Strengths retailers than can deliver at short notice. products. sells well. They offer good
margin to retailers.
Difficult to find good packaging Products more expensive than Poor quality product, poor label
Weaknesses B. uses synthetic colors and design. I’m told by retailers
preservations. that supplies are irregular and
not always the amount ordered.
Retailers say demand for products without Strong promotion by A. Appears to be expanding
Opportunities additives is increasing. I can produce deliveries to new areas
without added colors. according to newspaper reports.
There are few wealthy consumers and Cheaper products than B. May have over-expanded
Threats price is most important factor. I am not yet distribution network and failing
sure of production costs. to make deliveries.

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