Entrepreneurship

is encourage by the economy because it can provide a lot of opportunities for the unemployed people. It will increase per
capital income, improve standard of living and increase individual savings, provide revenue to the government in the form of income tax, value added tax, export duties, import duties, and balanced regional development.

this means that one of the benefits an
entrepreneur gets is to develop his managerial skills.

which means that because of entrepreneurships many organizations will exist.

this means that entrepreneurship can lift up the economic status of an individual.

this means that not only the life of the
entrepreneur is improved but also the society where the business is located.

The word “entrepreneur” was derived from the French verb

“entrepreneur” which means

The enterprise is created by an entrepreneur and the process

are innovators, willing to take risks and generate new ideas to make it unique and profitable solutions to the present-day problems.

which means doing things even before being told

which means he can classify opportunities and seize it.

which means he can retain good relations
with other people

meaning he will pursue things to get done regardless of challenges

means that he can entice people to buy
even if they don’t

meaning he makes plan before doing things and do not fail to monitor it.

which means that he is willing to gamble but he will calculate it first.

which include political, climate, legal system, economic and social conditions and market situations

an entrepreneur must be firm in making decisions.

an entrepreneur must have a convincing power.

an entrepreneur must have the charisma to be obeyed by his employees

an entrepreneur must have the ability to be the first to see business chances.

controlling a situation by making things to happen or by preparing for possible
future problems.

they have the courage to pursue what is their business ideas.

the entrepreneurs have big business ideas and they do not stop improving and thinking of new worthwhile ideas for their business.

with the expertise of the entrepreneur he can be a very good source of advices to
other entrepreneurs and would be business man.

a graduate of an entrepreneurship can be use his knowledge in teaching

the entrepreneur can be employed as
researcher by an enterprise.

the entrepreneurship graduate can apply as salesman

the entrepreneur being expert in the
field, he can be employed as business reporter.

have the ability to think newer, better and more economical ideas.

these are people who follow the path show by innovative entrepreneurs

are skeptical about changes to be made in the organization

are persons who lives on the labor of other

are people who drive social innovation and transformation in various fields
including education, health, human rights and many other

The creation of an entrepreneurial idea leads to the identification of entrepreneurial opportunities, which in turn results in the opening of an entrepreneurial venture.

Entrepreneurship Process

This allows the entrepreneur to see things in a very positive and optimistic way in the midst of difficult situation. Being a risk- taker, an entrepreneur can find solutions when problems arise.

Entrepreneur's driven passion, they are attracted to discover satisfaction in the act and process of discovery. Passion is the great desire of an entrepreneur to achieve his/her goals

This refers to the ability of the entrepreneur of being intuitive. This also known as intuition. The gut game also
means confidence in one’s self and the firm believes that everything you aspire can be reached

While others are trying to find out their target market.

Sources of Opportunities

Entrepreneurial ideas arise when changes happen in the external environment. A person with an entrepreneurial drive views these changes positively.

refers to the physical environment,
societal environment, and industry environment where the business operates.

the weather conditions.

such as minerals, forests, water, and
fertile land that occur in nature and can be used for economic gain.

includes all mammals, birds, reptiles, fish, etc., that live in the wild.

includes all the laws, rules, and regulations that govern business practices as well as the permits, approvals, and licenses necessary to operate the business.

such as income level and employment
rate.

customs, lifestyles and values that
characterize a society.

New inventions and technology innovations

The industry environment of the business includes:

A person with entrepreneurial interest sees possibility of business opportunities in any new discovery or because of the
use of latest technology

The priorities, projects, programs, and policies of the government are also good sources of ideas.

The interest, hobbies, and preferences of people are rich source of entrepreneurial ideas. Like the increasing number of Internet Café at present could be lead to the strong attachment of young people to computers.

It is also known as the “five forces of competition,” An industry environment is a competitive environment. Regardless of what product or services you have, competition is always present.

These are the five forces competing within the industry:

is the process of gathering information about a market within industry.

Refers to how you sell your product or
services to your customers.

clearly sets you apart from your competition, positioning you the more logical choice.

it persuades another to exchange money for a product or service

clear point of difference that meets
the needs. Make it even bigger.

Your competitor meets the customer needs better than you do. You’ll be
crushed

HOW TO CREATE AN EFFECTIVE UNIQUE SELLING PROPOSITION

STEP/ PROCESS IN CONSTRUCTING YOUR USP

Is a business or marketing statement that
summarizes why a consumer should buy a company’s product or use its services.

VALUE PROPOSITION STEPS

Market Targeting is a sage in market
identification process that aims to determines the buyers with common needs and characteristics.

Is an entrepreneurial marketing strategy
designed primarily to divide the market into small segments with distinct needs,
characteristics, or behavior.

is an important marketing technique that helps you reach each group of potential customers with an approach that appeals to them.

The total market according to geographical location like provincial regions, cities, provinces, municipalities and even barangay unit

Divided based consumers
Variable to consider Gender, Age, Income, Occupation, Education, Religion, Ethnic group, Family size

Divided based consumers THINK and BELIEVE. Variable to consider
Needs and wants, Attitudes, Social Class, Personality traits, Lifestyle, Knowledge and awareness, Brand concepts

POINTS TO CONSIDER IN SEGMENTATION

are the specific characteristics that the customers need from a product or a service.

CUSTOMER REQUIREMENT

MARKET SEGMENT EVALUATION

It is the approximate number of sellers and buyers in a particular market.

Can be defined as the process of gathering, analyzing and interpreting the information about the products or the services to be offered for sale to the potential consumers in the market.

Defined as the procedure of collecting,
measuring and analyzing accurate sights for research using standard validated techniques.

WAYS TO COLLECT DATA

are the most common way to gather
primary research with the use of
questionnaires or interview schedule

one of the most reliable and credible
ways of getting relevant information from target customers

METHODS OF INTERVIEW

excellent method for generating and
screening ideas and concepts.

is a foundation model. The marketing mix has been defined as the "set of marketing tools that the firm uses to pursue its marketing objectives in the target".

• American Marketing Professor
• An Author of the book
Basic Marketing:
A managerial approach

is an item that is built or produced to satisfy the needs of a certain group of people. The product can be intangible or tangible as it can be in the form of services or goods.

basically the amount that a customer
pays for to enjoy it. Price is a very
important component of the
marketing mix definition.

A strategy where the price of a product is
initially sent low to the rapidly reach a wide fraction of the market and initiate
Word of month.

A strategy IN WHICH A MARKETERS SETS A RELATIVLY HIGH INITIAL PRICE DOR A PRODUCT OR SERVICE AT FIRST, THE LOWER THE PRICE
OVERTIME.

Generally, a default strategy to minimize the role of pricing in the Marketing Mix, not utilizing price to gain or restrict market share

Placement or distribution is a very important part of the product mix definition. You have to position and distribute the product in a place that is accessible to potential buyers.

is a very important component of marketing as it can boost brand recognition and sales.

Promotion is comprised of various elements like:

both target market and people directly related to the business.

is a silent hero in the marketing world. Packaging refers to the outside appearance of a product and how it is presented to the customers. The best packaging should be attractive enough and cost efficient for the customers.

refers to a process used by marketers to create an image in the minds of a target market.