SlideShare a Scribd company logo
1 of 24
Download to read offline
SCREEN THE PROPOSED
SOLUTIONS BASED ON VIABILITY
,PROFITABILITY AND CUSTOMER
REQUIREMENTAND SELECT THE
BEST PRODUCT OR SERVICE
THAT WILL MEET THE MARKET
NEED
ENTREPRENEURSHIP
Do you know that most successful entrepreneurs have develop
skills in screening and selecting the best product that will meet the
market need with the right product of our time. The all saying that
timing everything is true in Entrepreneurship. The ability of the
Entrepreneur to identify new product or trend can accelerate the
success of the financial of the Business. They develop the skill
because of the continuous practice or following some factors in
screening and selecting the best product. Following some factors
help Entrepreneur to easily identify the best product or the market
which is they can easily identify the market need.
INTRODUCTION
• VIABILITY
• PROFITABILITY
• CUSTOMER REQUIREMENTS
FACTORS TO CONSIDER IN SCREENING THE
PROPOSED SOLUTIONS
VIABILITY
The product has a good
performance and can be
recommended to others to
be purchased.
6 TERMS TO DETERMINE THE
VIABILITY
•Determine the target market
•Understand the Needs of the market
•Define the Value Proposition
•Offer Up a Core Swt of Features for
the Minimum Variable Product (MVP)
•Build the MVP Prototype
•Get the MVP in the Market
1ST STEP IN THE VIABILITY
•Determine the target market
It is necessary to
recognize who that product will
serve is sufficient for the first step.
•Understanding the Needs of the Market
2ND STEP IN THE VIABILITY
It is essential to comprehend if the
product will satisfy the demand of the
target market.
3RD STEP IN THE VIABILITY
•Define the value proposition
A value proposition refers to
the value an entrepreneur
promises to deliver to the
market.
•Offer Up a Core Set of Features For The Minimum Viable
Product (MVP)
4Th STEP IN THE VIABILITY
The purpose is to iterate until the
market agrees on the Minimum
Viable Product.
The minimum Viable Product does not
need to be final since product fidelity
and interactivity will vary for each
business idea.
5th STEP IN THE VIABILITY
•Build the MVP Prototype
6th STEP IN THE VIABILITY
•Get the MVP in the market
Once the iteration of the MVP is
satisfactory, it is time to test in with
the target market.
PROFITABILITY
Conducting a product
profitability analysis forecast
the profitability of the new
product that is planning to
market.
3 KEYS TO ANALYZE THE PROFITABILITY
OF THE PROPOSED SOLUTION:
1. Determine the True cost of
production.
3. Find the safe spot.
2. Test the Market.
Determine the true Cost of Production
It is essential to
involve all the
cost of getting
the porduct into
the custody of
the customer.
Test the Market
Determining the
customers that
are willing to pay
for the price of the
product.
Find the Safe Spot
Make a decision that
will help the product
enter the market
without losing its
profitability.
CUSTOMER REQUIREMENT
It is a characteristic or
specification that should
be available in a product
for it to be considered
desirable by the market.
CUSTOMER REQUIREMENTS
•Satisfier
•Deligthers
•Must - Have
MUST - HAVE
It is the basic requirements
expected by the market that will
be appreciated if fulfilled
SATISFIER
It is the expression of
the market desire
explicitly.
DELIGTHERS
These are bonus,
extras, or add on
the product
requirements.
SOME CONSIDERATIONS TO MEET THE
MARKET NEED WHEN SELECTING THE BEST
PRODUCT.
• Would you acquire the product and use it
yourself?
• Are you excited about this product?
• Would you promote the product to
someone you know?
• Is the product needed in today’s market?
• Is the product sellable for the next
several days/months/years?
THANK
YOU<3
Icon pack

More Related Content

What's hot

Marketing principles and strategies
Marketing principles and strategiesMarketing principles and strategies
Marketing principles and strategiesmskriz
 
Entrepreneurship Module 5 BRANDING.pptx
Entrepreneurship Module 5 BRANDING.pptxEntrepreneurship Module 5 BRANDING.pptx
Entrepreneurship Module 5 BRANDING.pptxJulioMaderia
 
L3- Recognize a Potential Market- Market Need Analysis.pptx
L3- Recognize a Potential Market- Market Need Analysis.pptxL3- Recognize a Potential Market- Market Need Analysis.pptx
L3- Recognize a Potential Market- Market Need Analysis.pptxMaamLyca
 
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...Joace Gayrama
 
Validate customer related concerns
Validate customer related concernsValidate customer related concerns
Validate customer related concernsNoel Banca
 
Marketing mix the 7 p's of marketing
Marketing mix  the 7 p's of marketingMarketing mix  the 7 p's of marketing
Marketing mix the 7 p's of marketingEli Santos
 
Unique selling proposition and value proposition
Unique selling proposition and value propositionUnique selling proposition and value proposition
Unique selling proposition and value propositionJohemie Lopez Quinones
 
Dlp applied economics 1 29 - 31, 18
Dlp applied economics 1 29 - 31, 18Dlp applied economics 1 29 - 31, 18
Dlp applied economics 1 29 - 31, 18paul nuez
 
Cot 1 lesson plan entrepreneurship
Cot 1  lesson plan   entrepreneurshipCot 1  lesson plan   entrepreneurship
Cot 1 lesson plan entrepreneurshipRuffaidah Lantod
 
dll in entrep.docx
dll in entrep.docxdll in entrep.docx
dll in entrep.docxNORIBETH1
 
4Ms in entrepreneurship.pptx
4Ms in entrepreneurship.pptx4Ms in entrepreneurship.pptx
4Ms in entrepreneurship.pptxkarelllabrador1
 
Developing the Business Model
Developing the Business Model Developing the Business Model
Developing the Business Model dean dundas
 
BUSINESS-PLAN-IMPLEMENTATION.pptx
BUSINESS-PLAN-IMPLEMENTATION.pptxBUSINESS-PLAN-IMPLEMENTATION.pptx
BUSINESS-PLAN-IMPLEMENTATION.pptxAnyaElegino
 
Demonstrate Understanding of the 4Ms of Operations.pptx
Demonstrate Understanding of the 4Ms of Operations.pptxDemonstrate Understanding of the 4Ms of Operations.pptx
Demonstrate Understanding of the 4Ms of Operations.pptxangiegayomali1
 
Marketing Products & Services
Marketing Products & ServicesMarketing Products & Services
Marketing Products & ServicesJoydeep Hazarika
 
Module 3 -_entrepreneurship (1)
Module 3 -_entrepreneurship (1)Module 3 -_entrepreneurship (1)
Module 3 -_entrepreneurship (1)amitsomwanshi
 

What's hot (20)

Marketing principles and strategies
Marketing principles and strategiesMarketing principles and strategies
Marketing principles and strategies
 
Entrepreneurship Module 5 BRANDING.pptx
Entrepreneurship Module 5 BRANDING.pptxEntrepreneurship Module 5 BRANDING.pptx
Entrepreneurship Module 5 BRANDING.pptx
 
L3- Recognize a Potential Market- Market Need Analysis.pptx
L3- Recognize a Potential Market- Market Need Analysis.pptxL3- Recognize a Potential Market- Market Need Analysis.pptx
L3- Recognize a Potential Market- Market Need Analysis.pptx
 
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...
SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY,PROFITABILITY, AND CUSTOMERS...
 
Validate customer related concerns
Validate customer related concernsValidate customer related concerns
Validate customer related concerns
 
The Marketing Mix :7 P's of marketing
The Marketing Mix :7 P's of marketingThe Marketing Mix :7 P's of marketing
The Marketing Mix :7 P's of marketing
 
Marketing mix the 7 p's of marketing
Marketing mix  the 7 p's of marketingMarketing mix  the 7 p's of marketing
Marketing mix the 7 p's of marketing
 
Unique selling proposition and value proposition
Unique selling proposition and value propositionUnique selling proposition and value proposition
Unique selling proposition and value proposition
 
Dlp applied economics 1 29 - 31, 18
Dlp applied economics 1 29 - 31, 18Dlp applied economics 1 29 - 31, 18
Dlp applied economics 1 29 - 31, 18
 
Cot 1 lesson plan entrepreneurship
Cot 1  lesson plan   entrepreneurshipCot 1  lesson plan   entrepreneurship
Cot 1 lesson plan entrepreneurship
 
Module 2-final.pptx
Module 2-final.pptxModule 2-final.pptx
Module 2-final.pptx
 
dll in entrep.docx
dll in entrep.docxdll in entrep.docx
dll in entrep.docx
 
Brand Identity - Entrepreneurship 101
Brand Identity - Entrepreneurship 101Brand Identity - Entrepreneurship 101
Brand Identity - Entrepreneurship 101
 
entrep week 4.pptx
entrep week 4.pptxentrep week 4.pptx
entrep week 4.pptx
 
4Ms in entrepreneurship.pptx
4Ms in entrepreneurship.pptx4Ms in entrepreneurship.pptx
4Ms in entrepreneurship.pptx
 
Developing the Business Model
Developing the Business Model Developing the Business Model
Developing the Business Model
 
BUSINESS-PLAN-IMPLEMENTATION.pptx
BUSINESS-PLAN-IMPLEMENTATION.pptxBUSINESS-PLAN-IMPLEMENTATION.pptx
BUSINESS-PLAN-IMPLEMENTATION.pptx
 
Demonstrate Understanding of the 4Ms of Operations.pptx
Demonstrate Understanding of the 4Ms of Operations.pptxDemonstrate Understanding of the 4Ms of Operations.pptx
Demonstrate Understanding of the 4Ms of Operations.pptx
 
Marketing Products & Services
Marketing Products & ServicesMarketing Products & Services
Marketing Products & Services
 
Module 3 -_entrepreneurship (1)
Module 3 -_entrepreneurship (1)Module 3 -_entrepreneurship (1)
Module 3 -_entrepreneurship (1)
 

Similar to ENTREPRENEURSHIP-REPORT-2-1.pptx

MARKETING ppt .pptx
MARKETING ppt .pptxMARKETING ppt .pptx
MARKETING ppt .pptxMisabMK
 
Go to market success strategies
Go to market success strategiesGo to market success strategies
Go to market success strategiesRobert Jasper
 
4 Steps in Scaling B2B Market
4 Steps in Scaling B2B Market4 Steps in Scaling B2B Market
4 Steps in Scaling B2B MarketCanvassco
 
Nikhin marketting(titto sunny)
Nikhin marketting(titto sunny)Nikhin marketting(titto sunny)
Nikhin marketting(titto sunny)Traum Academy
 
Tcm step 2 market needs analysis
Tcm step 2 market needs analysisTcm step 2 market needs analysis
Tcm step 2 market needs analysisStephen Ong
 
Market testing & commercilisation
Market testing & commercilisationMarket testing & commercilisation
Market testing & commercilisationSindhu Vutukuri
 
2015_InnovationDay_Better products through virtual customer validation_Verhae...
2015_InnovationDay_Better products through virtual customer validation_Verhae...2015_InnovationDay_Better products through virtual customer validation_Verhae...
2015_InnovationDay_Better products through virtual customer validation_Verhae...Michiel Cambron
 
2015 innovation day_better products through virtual customer validation_verha...
2015 innovation day_better products through virtual customer validation_verha...2015 innovation day_better products through virtual customer validation_verha...
2015 innovation day_better products through virtual customer validation_verha...Verhaert Masters in Innovation
 
Go to market brochure
Go to market brochureGo to market brochure
Go to market brochureJovana Savic
 
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptx
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptxEntrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptx
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptxMjNangit
 
The Startup journey: From MVP to Product-Market Fit
The Startup journey: From MVP to Product-Market FitThe Startup journey: From MVP to Product-Market Fit
The Startup journey: From MVP to Product-Market FitAdrian M Odgers
 
product development.ppt.pptx
product development.ppt.pptxproduct development.ppt.pptx
product development.ppt.pptxvinderbassi1208
 
Current issues in manangement
Current issues in manangementCurrent issues in manangement
Current issues in manangementYawehElShaddai
 
The search for Product-Market Fit
The search for Product-Market FitThe search for Product-Market Fit
The search for Product-Market FitJérôme Kehrli
 
Product Marketing
Product Marketing Product Marketing
Product Marketing RidaZaman1
 
The Most Effective Ways To Identify New Market Opportunities For Your Busines...
The Most Effective Ways To Identify New Market Opportunities For Your Busines...The Most Effective Ways To Identify New Market Opportunities For Your Busines...
The Most Effective Ways To Identify New Market Opportunities For Your Busines...SlideTeam
 
A3a203d82a2392a7196021c279cc4b39
A3a203d82a2392a7196021c279cc4b39A3a203d82a2392a7196021c279cc4b39
A3a203d82a2392a7196021c279cc4b39prashantpareek2014
 

Similar to ENTREPRENEURSHIP-REPORT-2-1.pptx (20)

MARKETING ppt .pptx
MARKETING ppt .pptxMARKETING ppt .pptx
MARKETING ppt .pptx
 
Go to market success strategies
Go to market success strategiesGo to market success strategies
Go to market success strategies
 
4 Steps in Scaling B2B Market
4 Steps in Scaling B2B Market4 Steps in Scaling B2B Market
4 Steps in Scaling B2B Market
 
Product life cycle
Product life cycle Product life cycle
Product life cycle
 
Nikhin marketting(titto sunny)
Nikhin marketting(titto sunny)Nikhin marketting(titto sunny)
Nikhin marketting(titto sunny)
 
Tcm step 2 market needs analysis
Tcm step 2 market needs analysisTcm step 2 market needs analysis
Tcm step 2 market needs analysis
 
Market testing & commercilisation
Market testing & commercilisationMarket testing & commercilisation
Market testing & commercilisation
 
2015_InnovationDay_Better products through virtual customer validation_Verhae...
2015_InnovationDay_Better products through virtual customer validation_Verhae...2015_InnovationDay_Better products through virtual customer validation_Verhae...
2015_InnovationDay_Better products through virtual customer validation_Verhae...
 
2015 innovation day_better products through virtual customer validation_verha...
2015 innovation day_better products through virtual customer validation_verha...2015 innovation day_better products through virtual customer validation_verha...
2015 innovation day_better products through virtual customer validation_verha...
 
Opportunity Seizing.pptx
Opportunity Seizing.pptxOpportunity Seizing.pptx
Opportunity Seizing.pptx
 
The value proposition builder
The value proposition builderThe value proposition builder
The value proposition builder
 
Go to market brochure
Go to market brochureGo to market brochure
Go to market brochure
 
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptx
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptxEntrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptx
Entrepreneurial-Mind-Reporting_BEED-2A-BATCH-C.pptx
 
The Startup journey: From MVP to Product-Market Fit
The Startup journey: From MVP to Product-Market FitThe Startup journey: From MVP to Product-Market Fit
The Startup journey: From MVP to Product-Market Fit
 
product development.ppt.pptx
product development.ppt.pptxproduct development.ppt.pptx
product development.ppt.pptx
 
Current issues in manangement
Current issues in manangementCurrent issues in manangement
Current issues in manangement
 
The search for Product-Market Fit
The search for Product-Market FitThe search for Product-Market Fit
The search for Product-Market Fit
 
Product Marketing
Product Marketing Product Marketing
Product Marketing
 
The Most Effective Ways To Identify New Market Opportunities For Your Busines...
The Most Effective Ways To Identify New Market Opportunities For Your Busines...The Most Effective Ways To Identify New Market Opportunities For Your Busines...
The Most Effective Ways To Identify New Market Opportunities For Your Busines...
 
A3a203d82a2392a7196021c279cc4b39
A3a203d82a2392a7196021c279cc4b39A3a203d82a2392a7196021c279cc4b39
A3a203d82a2392a7196021c279cc4b39
 

ENTREPRENEURSHIP-REPORT-2-1.pptx

  • 1. SCREEN THE PROPOSED SOLUTIONS BASED ON VIABILITY ,PROFITABILITY AND CUSTOMER REQUIREMENTAND SELECT THE BEST PRODUCT OR SERVICE THAT WILL MEET THE MARKET NEED ENTREPRENEURSHIP
  • 2. Do you know that most successful entrepreneurs have develop skills in screening and selecting the best product that will meet the market need with the right product of our time. The all saying that timing everything is true in Entrepreneurship. The ability of the Entrepreneur to identify new product or trend can accelerate the success of the financial of the Business. They develop the skill because of the continuous practice or following some factors in screening and selecting the best product. Following some factors help Entrepreneur to easily identify the best product or the market which is they can easily identify the market need. INTRODUCTION
  • 3. • VIABILITY • PROFITABILITY • CUSTOMER REQUIREMENTS FACTORS TO CONSIDER IN SCREENING THE PROPOSED SOLUTIONS
  • 4. VIABILITY The product has a good performance and can be recommended to others to be purchased.
  • 5. 6 TERMS TO DETERMINE THE VIABILITY •Determine the target market •Understand the Needs of the market •Define the Value Proposition •Offer Up a Core Swt of Features for the Minimum Variable Product (MVP) •Build the MVP Prototype •Get the MVP in the Market
  • 6. 1ST STEP IN THE VIABILITY •Determine the target market It is necessary to recognize who that product will serve is sufficient for the first step.
  • 7. •Understanding the Needs of the Market 2ND STEP IN THE VIABILITY It is essential to comprehend if the product will satisfy the demand of the target market.
  • 8. 3RD STEP IN THE VIABILITY •Define the value proposition A value proposition refers to the value an entrepreneur promises to deliver to the market.
  • 9. •Offer Up a Core Set of Features For The Minimum Viable Product (MVP) 4Th STEP IN THE VIABILITY The purpose is to iterate until the market agrees on the Minimum Viable Product.
  • 10. The minimum Viable Product does not need to be final since product fidelity and interactivity will vary for each business idea. 5th STEP IN THE VIABILITY •Build the MVP Prototype
  • 11. 6th STEP IN THE VIABILITY •Get the MVP in the market Once the iteration of the MVP is satisfactory, it is time to test in with the target market.
  • 12. PROFITABILITY Conducting a product profitability analysis forecast the profitability of the new product that is planning to market.
  • 13. 3 KEYS TO ANALYZE THE PROFITABILITY OF THE PROPOSED SOLUTION: 1. Determine the True cost of production. 3. Find the safe spot. 2. Test the Market.
  • 14. Determine the true Cost of Production It is essential to involve all the cost of getting the porduct into the custody of the customer.
  • 15. Test the Market Determining the customers that are willing to pay for the price of the product.
  • 16. Find the Safe Spot Make a decision that will help the product enter the market without losing its profitability.
  • 17. CUSTOMER REQUIREMENT It is a characteristic or specification that should be available in a product for it to be considered desirable by the market.
  • 19. MUST - HAVE It is the basic requirements expected by the market that will be appreciated if fulfilled
  • 20. SATISFIER It is the expression of the market desire explicitly.
  • 21. DELIGTHERS These are bonus, extras, or add on the product requirements.
  • 22. SOME CONSIDERATIONS TO MEET THE MARKET NEED WHEN SELECTING THE BEST PRODUCT. • Would you acquire the product and use it yourself? • Are you excited about this product? • Would you promote the product to someone you know? • Is the product needed in today’s market? • Is the product sellable for the next several days/months/years?