ENT PS Unit4 Lesson1 Final

Unit 4: Market Need Analysis
Lesson 1
Market Research
Entrepreneurship
Senior High School Applied - Academic
What is market research?
Why is there a need to

conduct market
research?
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EXPLAIN EXTEND 2
Learning ● Analyze the market need.
Objectives ● Determine the possible product
or service that will meet the
At the end of the
lesson, you should be
need.
able to do the
following:

EXPLAIN EXTEND 33
Imagine you have a
product in mind that you
want to sell. How would
you know if people
would buy your product?

EXPLAIN EXTEND 4
What kind of
customers
would you
have?

EXPLAIN EXTEND 5
We can answer those questions
through market research.
6
Market Research
design, collection, and
analysis of relevant data,
arranged in a systematic
way, aimed at
providing a solution to
a specific marketing
problem
EXPLAIN EXTEND 7
Why would we
need market
research?

EXPLAIN EXTEND 8
The Need for Market Research
● perspective of the changes in consumer

tastes on product and services
● overview of the prevailing economic

conditions

EXPLAIN EXTEND 9
The Need for Market Research
● insights if there is a need to reschedule

at a later time when the demand arises

EXPLAIN EXTEND 10
How does market research help
entrepreneurs in initiating a
business enterprise?
11
Purpose of Market Research
● understanding of
consumers’ needs
● minimizes the risk of

business failure
● gives a forecast of the

trends
EXPLAIN EXTEND 12
How do we start market
research?

EXPLAIN EXTEND 13
Market Research Basic Questions
1. Why conduct a market research?
2. What will be the market research?
3. Which part of the market will be

researched?

EXPLAIN EXTEND 14
14
Example
Question Answer
Which part of the students from Junior to

Senior High School
market will be
researched?

EXPLAIN EXTEND 15
15
Market Research Basic Questions
4. Who among the members of the identified

market will be researched?
5. When will be the right time to

conduct the planned market research?

EXPLAIN EXTEND 16
16
Example
Question Answer
When will be the during lunch break and

dismissal
right time to
conduct the
planned market
research?
EXPLAIN EXTEND 17
17
7 Market Research Basic Questions
6. Where will the market research be

conducted?
7. How will the market research be carried

out?

EXPLAIN EXTEND 18
18
Example
Question Answer
How will the market by observation and

interview
research be carried
out?

EXPLAIN EXTEND 19
19
Tip
Among the 7 market research

basic questions, the first 2- WHAT
and WHY should always be
answered first. The rest may be
answered in any order.
20
How do we conduct market
research?
21
● Advertising Research
Types of ● Commercial Eye Tracking
● Customer Satisfaction Research
Market ● Distribution Channel Audit
Research ● Internet Strategic Intelligence
● Test Marketing

EXPLAIN EXTEND 22
Advertising Research
predict or trace the

effectiveness of an
existing or related
product or service
advertisement

EXPLAIN EXTEND 23
Commercial Eye Tracking
analyzing visual
behavior and trends
among its target
consumers

EXPLAIN EXTEND 24
Customer Satisfaction Research
feedback of customers
who already purchased
the product, or a related
one, to gauge his
satisfaction

EXPLAIN EXTEND 25
Distribution Channel Audit
assessing the distributor

or retailers’ purchase
ordering pattern and
levels of a product

EXPLAIN EXTEND 26
Internet Strategic Intelligence
Using the Internet in the

form of chats, forums,
blogs, etc, the product
under review is given an
honest experience
review.

EXPLAIN EXTEND 27
Test Marketing
a small, controlled
quantity of the product
is being released to
gauge the level of
acceptance of the
buying public or target
market
EXPLAIN EXTEND 28
Group Work
In relation to the proposed product

in your business plan, how will you answer the
7 basic questions of market research?

EXPLAIN EXTEND 29
Questions
Part A.
What you will do in the following scenarios?
1. Your target participants in your market research are students.
While inviting and explaining to them your intention to include
them in your research, some expressed that they refuse to join.
2. You intend to conduct a group session/ interview with a number of
teachers in your school for your market research, but there is no
common free/vacant time in the schedule of the teacher-
participants.
EXPLAIN EXTEND 30
Questions
3. You are having a difficult time identifying the ideal market segment as
participants in your market research.
4. The location where you plan to conduct your market research is quite far
from your locality. Many of the group members weren’t given permission
by their parents to join the market research activity of your group.
5. Your target participants in your market research are adult professionals.
They signified that they are not interested in participating in your market
research because your team is just wasting their time.

EXPLAIN EXTEND 31
Questions
Part B.
Discuss among your research group mates
what data/ information you can extract from
the different types of market research if
your group decides to employ such, which
can be helpful for planning/improving your
proposed product or service.
EXPLAIN EXTEND 32
Wrap Up
Market research refers to the design, collection,

and analysis of relevant data, arranged in a
systematic way, aimed at providing a solution to a
specific marketing problem.
Market research is one of the most effective

tools to utilize if the entrepreneur wants to
undertake the marketing aspect of the business
effectively.
33
Wrap Up
Market research provides understanding of

consumers’ needs, minimizes business risk
and failure, and forecast of emerging market
trends.
34
Wrap Up
35
Photo Credits Bibliography
D’ Andrea, Aude and Ines Gabarret. Building 21st Century
Slide 21: This file, Divisoria_Shopping, by Timothy Albano is Entrepreneurship Volume 1. John Wiley and Sons
licensed under CC BY 3.0 via Wikimedia Commons Publishing, 2017.
Dollingner, Marc. Entrepreneurship: Strategies and Resources

3rd Edition. New Jersey: Prentice Hall, 2003.
Kotler, Philip & Gordon McDougall. Marketing Essentials.

Prentice-Hall Canada Inc, 1985.
Miranda, Gregorio. Basic Marketing Revised Edition. L & G

Business House, 1997.
Peters, Michael & Robert Hisrich. Entrepreneurship 4th

Edition. McGraw-Hill Book Co, 1999.
36

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Unit 4: Market Need Analysis

Why is there a need to

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

● perspective of the changes in consumer

● overview of the prevailing economic

ENGAG EXPLOR EVALUAT

● insights if there is a need to reschedule

ENGAG EXPLOR EVALUAT

● minimizes the risk of

● gives a forecast of the

ENGAG EXPLOR EVALUAT

2. What will be the market research?

3. Which part of the market will be

ENGAG EXPLOR EVALUAT

Which part of the students from Junior to

ENGAG EXPLOR EVALUAT

4. Who among the members of the identified

5. When will be the right time to

ENGAG EXPLOR EVALUAT

When will be the during lunch break and

6. Where will the market research be

7. How will the market research be carried

ENGAG EXPLOR EVALUAT

How will the market by observation and

ENGAG EXPLOR EVALUAT

Among the 7 market research

ENGAG EXPLOR EVALUAT

predict or trace the

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

assessing the distributor

ENGAG EXPLOR EVALUAT

Using the Internet in the

ENGAG EXPLOR EVALUAT

In relation to the proposed product

ENGAG EXPLOR EVALUAT

ENGAG EXPLOR EVALUAT

Market research refers to the design, collection,

Market research is one of the most effective

Market research provides understanding of

Dollingner, Marc. Entrepreneurship: Strategies and Resources

Kotler, Philip & Gordon McDougall. Marketing Essentials.

Miranda, Gregorio. Basic Marketing Revised Edition. L & G

Peters, Michael & Robert Hisrich. Entrepreneurship 4th

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