Scribd
Upload
2 views30 pages

Lesson-3

The document outlines the importance of defining a Unique Selling Proposition (USP) and Value Proposition (VP) when starting a new business, emphasizing the need to understand target markets and customer requirements. It provides examples from companies like Mang Inasal and Jollibee to illustrate effective VPs and USPs, along with methods for market segmentation. Additionally, it discusses the significance of customer requirements and market size in determining the potential success of a business venture.

Uploaded by

lorenzanajenny72
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
2 views30 pages

Lesson-3

The document outlines the importance of defining a Unique Selling Proposition (USP) and Value Proposition (VP) when starting a new business, emphasizing the need to understand target markets and customer requirements. It provides examples from companies like Mang Inasal and Jollibee to illustrate effective VPs and USPs, along with methods for market segmentation. Additionally, it discusses the significance of customer requirements and market size in determining the potential success of a business venture.

Uploaded by

lorenzanajenny72
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 30

Less

on Recognize and
Understand the
3 Market

Presented by: JAY BEN C. DE VERA


In opening a new venture
or business, you need to
determine the Unique
Selling Proposition (USP)
and Value Proposition (VP)
of your product as well as
your target market.
Value Proposition (VP) - is a
business or marketing
statement that summarizes
why a consumer should buy a
company's product or use its
service. This statement is often
used to convince a customer to
purchase a particular product
or service to add a form of
In creating Value Proposition, entrepreneurs
will consider the basic elements:

Target Customer
Needs/opportunity
Name of the product
Name of the enterprise/company
Value Proposition of Mang Inasal
It is our aim not just to deliver high-quality
meals but to serve the Alagang Pinoy way. We
serve our customers with puso - by always
making them our first priority in ways that
connect to our customers. In Mang Inasal, FSC is
our way of life. And it is the reason why we are
still in business today.
Value Proposition of Jollibee
“Jollibee promises to provide high-
quality food, fast and friendly
service in a clean and comfortable
environment tailored to the Filipino
palate.”
Unique Selling Proposition
(USP) – refers to how you sell
your product or services to
your customer. You will address
the wants and desires of your
customers. As an
entrepreneur, you should think
of marketing concepts that
persuade your target
USP is the one thing that makes
your business better than the
competitor. It’s a specific benefit
that makes your business standout
when compared to other
businesses in your market.
It is a statement you choose to
embody that differentiates your
products and your brand from your
competitors.
Some tips for the entrepreneur on
how to create an effective unique
selling proposition to the target
customers are:
Identify and rank the uniqueness of the
product or services character
Be very Specific
Keep it Short and Simple (KISS)
Unique Selling Proposition of Mang Inasal

Famous for its native-style and “nuot-sarap”


Chicken Inasal with its pioneering “unlimited
rice”, Mang Inasal quickly won the hearts of its
customers with its distinctively Pinoy stamp-
grilling and special marinade made out of local
secret spices.
Unique Selling Point of Jollibee

With a strict adherence to the highest standards


of food quality, service and cleanliness, Jollibee
serves great-tasting, high-quality and affordable
food products to include its superior-tasting
Chickenjoy, mouth-watering Yumburger, and
deliciously satisfying Jolly Spaghetti among other
delicious products.
In promoting your products
or services, make sure that it
is very specific and put details
that emphasize the
differentiator against the
competitors. Keep it short and
simple and think of a tagline
that is easy to remember.
Tagline – It is an actual piece of
marketing copy written to sum
up what you do or what you want
your prospects to know about
your product or service. It can
also reflect a key benefit they will
reap if they purchase your
product, service or solution. It is
the new media version of a
company slogan.
Tagline of Mang Inasal

The more the many-er

“The more the many-er,” is Mang Inasal's motto. As


the Philippine's fastest growing barbeque fast food
chain, it serves chicken, pork barbeque and other
Filipino favorites.
Tagline of Jollibee

"Langhap Sarap!", which literally means


"delicious aroma"

"Bida ang Saya" which means your


happiness is the first.
VP vs. USP
VP is what you are offering to
customers for what they are
paying while USP is why
customers should buy from
you instead of someone else.
Its more about creating that
emotional connection with
MARKET
SEGMENTAT
ION
Three Factors that will Determine
your Customers

A. Target Market
B. Customer Requirements
C. Market Size
A. Target Market
It is a sage in market identification
process that aims to determine the
buyers with common needs and
characteristics. Prospect customers are a
market segment that an entrepreneurial
venture intends to serve.
A. Target Market

In targeting a specific market, it will


exclude people if it will not fit your criteria.
Choose a product that is more affordable,
efficient, and effective to reach potential
clients and generate business.
Methods for Segmenting the Markets
1. Geographic segmentation – the total market
is divided according to geographical location.
Variables to consider
a. Climate
b. Dominant ethnic group
c. Culture
d. Density (either rural or urban)
Methods for Segmenting the Markets
2. Demographic Segmentation – divided
based on consumers
Variables to consider
a. Gender b. Age
c. Income d. Occupation
e. Education f. Religion
g. Ethnic group h. Family size
Methods for Segmenting the Markets
3. Psychological Segmentation – divided in
terms of how customers think and believe
Variables to consider
a. Needs and wants b. Attitudes
c. Social class d. Personality traits
e. Knowledge and awareness
f. Brand concept g. Lifestyle
Methods for Segmenting the Markets
4. Behavioral Segmentation – divided
according to customers’ behavior pattern as
they interact with a company.
Variables to consider
a. Perceptions b. Knowledge
c. Reaction d. Benefits
e. Loyalty f. Responses
B. Customer Requirements
Customer requirements are the specific
characteristics that the customers need from a
product or a service.

Two types of customer requirements:


1. Service Requirement
2. Output Requirement
B. Customer Requirements
1. Service Requirement: An intangible thing or
product that cannot be touched but the
customer can feel the fulfillment. There are
elements in service requirement like on-time
delivery, service with a smile, easy-payment etc.
It includes all aspects of how a customer expects
to be treated while purchasing a product and
how easy the buying process goes.
B. Customer Requirements
2. Output Requirements: Tangible thing or things
that can be seen. Characteristic specifications
that a consumer expects to be fulfilled in the
product. Customer buys gadgets (phone speaker)
the specification like the loudness and clarity are
the output requirements.
B. Customer Requirements
2. Output Requirements: Tangible thing or things
that can be seen. Characteristic specifications
that a consumer expects to be fulfilled in the
product.

In food products, what do you think are


the output requirements of the
customer?
C. Market Size
It is the approximate number of sellers and
buyers in a particular market. In determining
the market size, the entrepreneur will conduct a
strategic marketing research from reliable
sources using the following method:
First step is to estimate the potential market –
approximate number of customers that will buy
the product or avail your services.
C. Market Size
Second step is to estimate the customers who
probably dislike to buy your product or avail the
services.
Third step is for the entrepreneur to estimate
the market share, that means plotting and
calculating of the competitor’s market share to
determine the portion of the new venture.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy