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You are now familiar with the difference between the basic needs and wants of a person. It is now time to apply what you have learned. Below is a set of pictures that you are familiar with. Identify if the said pictures are considered as NEEDS or as WANTS. 2. 6. 3. 7.

You are now familiar with the difference between the basic needs and wants of a person. It is now time to apply what you have learned. Below is a set of pictures that you are familiar with. Identify if the said pictures are considered as NEEDS or as WANTS. 2. 6. 3. 7.

Principles Of Marketing
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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BC the competencies that you have gained. Don't wory. You got this! Independent Activity 1.1: Is it a Need or a Want? What's More You are now familiar with the difference between the basic needs and wants of a person. It is now time to apply what you have learned. Below is a set of pictures that you are familiar with. Identify if the said pictures are considered as NEEDS or as WANTS. 1. 5. _2. _6. 3. _7. _4. _8. Independent Activity 1.2: Household Needs and Wants To be able to identify the potential business opportunities present in the market, you must be able to identify the potential business opportunities through the needs and wants of your market. You can begin doing this by starting small and observing your own household first. Conduct an interview to the members of your household. Using the table below and fill in the data and ask your family members as to what their needs and wants are. Family Member Age Need Want Example: books, nutritious food, shelter eBook reader, fast food, mansion You 17 Independent Activity 1.3: How to Identify a Good Business Idea Based on what you have learned from this module, using the following guide questions, explain the things to be considered when screening for a good business idea. How much capital is needed to put up the business? How big is the demand for the product/service? How is the demand met? Do you have the background and experience needed to run this particular business? Will the business be legal, not going against any existing or foreseeable government regulation? Is the business in line with your interest and expertise?
Transcribed Image Text:BC the competencies that you have gained. Don't wory. You got this! Independent Activity 1.1: Is it a Need or a Want? What's More You are now familiar with the difference between the basic needs and wants of a person. It is now time to apply what you have learned. Below is a set of pictures that you are familiar with. Identify if the said pictures are considered as NEEDS or as WANTS. 1. 5. _2. _6. 3. _7. _4. _8. Independent Activity 1.2: Household Needs and Wants To be able to identify the potential business opportunities present in the market, you must be able to identify the potential business opportunities through the needs and wants of your market. You can begin doing this by starting small and observing your own household first. Conduct an interview to the members of your household. Using the table below and fill in the data and ask your family members as to what their needs and wants are. Family Member Age Need Want Example: books, nutritious food, shelter eBook reader, fast food, mansion You 17 Independent Activity 1.3: How to Identify a Good Business Idea Based on what you have learned from this module, using the following guide questions, explain the things to be considered when screening for a good business idea. How much capital is needed to put up the business? How big is the demand for the product/service? How is the demand met? Do you have the background and experience needed to run this particular business? Will the business be legal, not going against any existing or foreseeable government regulation? Is the business in line with your interest and expertise?
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