Situation: Lena, a fresh graduate of Technical Education and Skills Development Authority (TESDA), thinks that there is an opportunity to open a salon in their community in Batisan Village, Cabanatuan City. Her initial findings show that their community has only one barber shop for men and one beauty salon for women. Batisan Village has 200 families. Majority of the members of the families are office workers and students. She conducted an informal survey via social media that families want to go to just one barber shop/salon together for their beauty and relaxation needs plus they also want other services like nail cleaning and massage.Requirements:1. Lena need additional data for her to decide on the attractiveness of the business opportunity, what method of generating ideas will she use and why?2. Prepare a set of idea-generating questions that will answer the information that Lena needs.3. Make a product/service planning and development process (concise description) following the 4 key stages. • Idea stage, • Concept stage, • Product development stage test, • Marketing stage Product or Service Planning and Development ProcessThe last process, called the seizing process involves refining and developingthe opportunity. The refining process is called product or service planning anddevelopment process. It has four key stages.1. Idea stage. In this stage, the entrepreneur determines what are the feasibleproducts and/or services that will perfectly suit the opportunity4. Concept stage. The developed idea will undergo a consumer acceptance test.This test includes getting the initial reactions of the primary target market.Conversational interviews are conducted to understand consumerpreference on physical characteristics and attributes of a product or the physicalevidence/characteristics of a service.. Product development stage. In this stage, the entrepreneur leverages on themformation generated from the prospective customers via the concept stage. Thecntrepreneur will conduct a consumer panel where actual product/serviceetmples will be given/rendered to the panel of potential customers. TheParticipant's task is to critique the actual product/service and record the good13 qualities and inferior attributes. They are also given sample of competitorsproduct or services for comparative purposes.4. Test Marketing Stage. This stage validates the work done from the first thestages to measure success in the commercialization of the product or serviceActual sale results will be the foundation of the consumer's acceptance level andwill be the basis in commercializing the product/service.

1. The method of generating ideas will she use are - 1. Social Listening - Thought age does not…

Answered: Situation: Lena, a fresh graduate of…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Situation: Lena, a fresh graduate of Technical Education and Skills Development Authority (TESDA), thinks that there is an opportunity to open a salon in their community in Batisan Village, Cabanatuan City. Her initial findings show that their community has only one barber shop for men and one beauty salon for women. Batisan Village has 200 families. Majority of the members of the families are office workers and students. She conducted an informal survey via social media that families want to go to just one barber shop/salon together for their beauty and relaxation needs plus they also want other services like nail cleaning and massage. Requirements: 1. Lena need additional data for her to decide on the attractiveness of the business opportunity, what method of generating ideas will she use and why? 2. Prepare a set of idea-generating questions that will answer the information that Lena needs. 3. Make a product/service planning and development process (concise description) following the 4 key stages. • Idea stage, • Concept stage, • Product development stage test, • Marketing stage