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Understanding Demand and Market Studies

The document outlines a lesson focused on identifying product needs, specifically using Selsun Blue as an example for its effectiveness against dandruff. It discusses key concepts such as demand, feasibility studies, and marketing plans, emphasizing their importance for future entrepreneurs. Additionally, it includes an assessment task related to identifying target markets and product needs based on a video about baby powder.

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alexis.dieci19nueve
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24 views2 pages

Understanding Demand and Market Studies

The document outlines a lesson focused on identifying product needs, specifically using Selsun Blue as an example for its effectiveness against dandruff. It discusses key concepts such as demand, feasibility studies, and marketing plans, emphasizing their importance for future entrepreneurs. Additionally, it includes an assessment task related to identifying target markets and product needs based on a video about baby powder.

Uploaded by

alexis.dieci19nueve
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Lesson 1

Activity
Look for one product in your bathroom. Identify the Needs of why you are using that product.
Expand your answer.
Selsun Blue. I use this product regularly because it removes dandruff effectively. This is an anti-dandruff
shampoo that also softens my hair.

Analysis
1. In your own words, what is meant by “demand”?
What “demand” means to me is an insistent or recurring need for a thing. May it be products,
events, rights and many more.
2. What is the difference between Feasibility Study and Marketing Plan?
Feasibility study evaluates the viability of the business or project while Marketing plan focuses on
strategies and directions that the organization will take. These two matters are important and are
always interrelated.

3. As a future entrepreneur, why it is important to conduct Feasibility Study?


Feasibility study can help organize and prioritized projects before fully committing resources that
could hurt the budget or even could cause bankruptcy.

Application
Please write the correct answer on the space before the number.

Market 1. It means the place where the buyer and the seller meet.
Past demand 2. It is the sum of total goods sold or consumed and total production,
whether locally produce or imported during the previous year.
Demand 3. Refers to the quantity of goods and services that the consumers are
willing to buy at a particular price for a given point of time.
Market study 4. Defined as the study of demand, supply, the gap between demand and
supply, the price, and the marketing program
Market segmentation 5. A marketing approach that identifies the right customer or users of the
product or services.
Assessment
Watch the video on the link below. Base on the video, identify who are the target market, the demand and
need of the product. [Link]
The target customers are the parents that are nursing a baby. The need for baby powder to help minimize
skin rashes and irritation from friction on skin and clothes.

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