Entrep Q1-M13
Entrep Q1-M13
Entrepreneurship HIGH
SCHOOL
Module
PRODUCT 13
Quarter 1
Entrepreneurship
Quarter 1 – Module 13: Product
First Edition, 2020
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any work of the Government of the Philippines. However, prior approval of the
government agency or office wherein the work is created shall be necessary for
exploitation of such work for profit. Such agency or office may, among other things,
impose as a condition the payment of royalties.
Reviewers:
Illustrator: Name
Layout Artist: Name
Management Team: Ma. Evalou Concepcion A. Agustin
OIC-Schools Division Superintendent
Aurelio G. Alfonso EdD
OIC-Assistant Schools Division Superintendent
Victor M. Javeña EdD
Chief, School Governance and Operations Division and
OIC-Chief, Curriculum Implementation Division
Module
13
Quarter 1
PRODUCT
Introductory Message
In addition to the material in the main text, you will also see this box in the
body of the module:
As a facilitator, you are expected to orient the learners on how to use this
module. You also need to keep track of the learners' progress while allowing them
to manage their own learning. Moreover, you are expected to encourage and assist
the learners as they do the tasks included in the module.
For the Learner:
This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own pace and time. You
will be enabled to process the contents of the learning material while being an
active learner.
Posttest - This measures how much you have learned from the
entire module.
EXPECTATIONS
PRETEST
Multiple Choice: Encircle the correct answer on the given choices below.
2. It serves to secure and contain, and sometimes identify and promote the
product.
a. Label b. Warranty c. Packaging
In order to make your business more appealing to the customers, you must
align the 7P’s of Marketing Mix effectively. These elements are related either way to
each other and should focus on your target market. One element missing may
cause your dissatisfaction with your customer’s needs and wants.
LESSON
Manufacturing/Expiration Date
Nutritional
Functions/Use
Value/Ingredient
s
Name/Brand
Guide Questions:
PRODUCT
1. GOODS – are sale of the physical products from the manufacturer to the
consumer or end user. These are tangible products that can measure the
satisfaction after using it. Example: clothes, food, furniture and appliances.
2. SERVICES – are intangible products that the satisfaction of the customer can be
measured in future preferences. Example: laundry business, salon services,
insurance.
Both tangible and intangible goods and services can be further defined and divided
into the following groups:
1. Consumer Goods – items that are used directly by the end user such as
food, clothing, cars, etc.
2. Consumer Services – services that are for the benefit of end users
directly such as education, courier services, grooming services, etc.
3. Producer Goods – items that act as part of another company’s operations
such as machinery or parts.
4. Producer Services – services that support another company’s operations
such as accounting, human resource, etc.
Product is the first element of marketing mix. After analyzing the needs and
wants of your target market, a company can provide the product that is capable to
satisfy the need of your customers. Here are some questions to be asked:
All these questions must be answered with the product’s target market in
mind. Any changes in any of the products attributes may also change in one or
other elements of the marketing mix. Physical products have several added
components namely—packaging and labelling.
PACKAGING
LABELING
The vital application for any product is the stages of its lifecycle. A typical
product goes through the following stages:
A keen eye needs to be kept on the product’s journey through the lifecycle. A
close to reality prediction of this path may help the company relaunch or redesign
an existing product or work on introducing a new one to the market.
Step 1: Idea generation – it is the first stage of new product development process
in which several idea generation techniques are used to generate as many new
product ideas as possible.
Step 2: Idea screening – it is the stage wherein ideas generated in the first step
are screened using fixed criteria to reduce them to a manageable few.
Step 3: Concept development and testing – new products ideas are converted
into a customer-centered products concepts and tested by a representative as a
sample consumer for acceptability, believability and purchase intent.
Step 4: Business analysis – is a stage wherein the probable sales of the new
products are calculated together with its cost and potential profitability based on
the concept development and testing results.
Step 5: Product development – is a stage wherein the product concept is turned
into a tangible working prototype.
Step 6: Market testing – is a stage where the new product is marketed in a
limited geographical area to determine if the fine tuning of attributes, positioning,
pricing, advertising and promotions are significant.
Step 7: Product commercialization – the final stage wherein the new product is
launched in the market
ACTIVITIES
ACTIVITY 1: Identify the kind of products that the following companies offer
whether GOODS or SERVICES. Provide justification to your answer.
WRAP UP
ACTIVITY: LESSON CLOSURE: Directions: Fill out the lesson closure slip about
“Products.”
VALUING
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
__________________________________________________________________________________
POSTTEST
Directions: Read each statement carefully. Write the word TRUE if the statement is
correct and FALSE if the statement is wrong.
_______1. Idea generation is the last stage in the development new product ideas.
_______2. Packaging is not important for new product ideas.
_______3. Label should only consist of brand name.
_______4. Halal seal conforms to the requirements of Muslim practices.
_______5. Developing a new product should be customer oriented.
KEY TO CORRECTION
5. C 5. True
4. A 4. True
3. B 3. False
2. C 2. False
1. A 1. False
PRETEST POSTTEST
References
BOOKS
Online
https://studiousguy.com/product-life-cycle/
https://www.cleverism.com/product-four-ps-marketing-
mix/?fbclid=IwAR3AFV34RUV9JXLzYCnrsbZsUKli9MHq92S3pLAR0hXHV7Z2b9nuQfKBRQk