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Republic of the Philippines

Department of Education
Region VI-Western Visayas
Division of Antique
ANTIQUE NATIONAL SCHOOL
T.A. Fornier St., San Jose de Buenavista, Antique

ENTREPRENEURSHIP
7Ps of Marketing and Branding
Quarter 1 – Module 3

Prepared by:

LOURENE J. GUANZON
Subject Teacher

Checked and Noted by:

SALVADOR J. SEMBRAN, PhD


Asst. Principal II
Introductory Message

Welcome to the Entrepreneurship for Grade 12 Self-Learning


Module (SLM) on 7 P’s of Marketing and Branding

This module was designed to provide you with fun and meaningful
opportunities for guided and independent learning at your own
pace and time. You will be enabled to process the contents of the
learning resource while being an active learner.

The following are some reminders in using this module:

1. Use the module with care. Do not put unnecessary mark/s


on any part of the module. Use a separate sheet of paper
in answering the tasks.
2. Read the instructions carefully before doing each task.
3. Observe honesty and integrity in doing the tasks and
checking your answers.
4. Finish the task at hand before proceeding to the next.
5. Return this module to your teacher once you are through
with it.

If you encounter any difficulty in answering the tasks in this


module, do not hesitate to consult your teacher. Always bear in
mind that you are not alone.
What This Module is About

This module will introduce you to the 7P’s of Marketing and


Branding.

The following are the lessons contained in this module:

Lesson 1 – Importance of Marketing Mix in the


Development of Marketing Strategy
Lesson 2 – Marketing Mix (7Ps) in relation to the Business
Opportunity
Lesson 3 – Importance of branding

At the end of this module, you should be able to:

1. Recognize the importance of marketing mix in the


development of marketing strategy.
2. describe the marketing mix (7P’s) in relation to the
business opportunity vis-á-vis:
• Product;
• Place;
• Price;
• Promotion
• People
• Packaging; and
• Positioning
3. Know the meaning and importance of branding; and
4. Develop a brand name
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Lesson 1 –Importance of Marketing Mix in the


Development of Marketing Strategy

There are many strategies available for marketing, but how do


businesses pick the best combination? Businesses want to get
their products and services known to prospective customers who
are ready, willing and able to purchase as possible. To do this, it's
necessary to understand the marketing mix. The most common of
these framework is the "4Ps" – product, price, place and
promotion.

The 4ps Of Marketing

The marketing mix is carried out through the “4 Ps of marketing.


QUARTER 1-MODULE 3 Entrepreneurship

1. Product
What the business is marketing, either a tangible good or a
service the company performs.

2. Price
How much the product charges the customer or client.

3. Promotion
Any method that the company uses to market its products or
services, including advertising, direct mail, public relations and
content marketing among other methods.

4. Place
It is where the product is distributed, where it is sold, how
customers may come across it.
These “4Ps” reveal the key top-level marketing decisions the
company must make for each product or service it sells.

The Role Of The Marketing Mix

The old axiom defines marketing as the process of "getting the


right product in front of the right people at the right time and for the
right price." Marketing is crucial to a company’s success. The
marketing mix refers to the collection of tools and strategies a
business will use get its products to customers. The term
"marketing mix" was created in the mid-20th century. One of its
first uses was in a 1953 report to the American Marketing
Association, in which Harvard professor and marketing expert Neil
Bordon outlined how marketers develop and execute a successful
marketing plan. A digital marketing mix is how a business attains
its marketing goals using digital technologies.
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To ensure success, a business should take care to integrate a


variety of marketing strategies into its marketing plan. These
strategies should reveal the reality of business operations as well
as the company’s goals for that product or service line.

In addition to the 4 Ps of marketing mix, consider customer service


as an important part of the marketing mix. Customer service
constitutes a significant part of the evaluation process for
consumers. Buyers want to know how well your business will help
them make the most out of their purchase.

An entirely new design of the 4Ps framework is gaining popularity


– the 7Ps. This focuses more on services that a company may
provide. The 7P’s will be discussed in the next lesson.

The Importance Of The Marketing Mix In The Development Of


Strategies

1. Helps understand what your product or service can offer to


your customers.
2. Helps plan a successful product offering.
3. Helps with planning, developing and executing effective
marketing strategies.
4. Helps businesses make use of their strengths, downplay
weaknesses, and avoid unnecessary cost.
5. Helps be proactive in the face of risks.
6. Helps determine whether your product or service is suitable for
your customers.
7. Helps identify and understand the requirements of customers.
8. Helps learn when and how to promote your product or service
to your customers.
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Activity 1.1

Direction:

Make a video presentation with the following contents. Make sure


to promote your local product. The video should not exceed 3
minutes. Upload the video on google drive the teacher will give
you.

1. Introduce the product you are selling.


2. State the price of the item/items.
3. Tell your audience how they can reach you.
4. Tell where your audience can buy your product.
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Activity 1.2

Direction: In a separate sheet of paper fill in what is needed.


Earlier, you made a video presentation introducing your product,
its price, where buyers may purchase your product, and how they
can reach you. The next activity is a continuation of the video
presentation activity. However, this time, you add more
information. Write what marketing strategy you are going to use
and how you are going to promote your product.
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Activity 1.3

This is an extension of the previous activity.

Direction: Promote your product by making a one slide


presentation. Use Microsoft PowerPoint or Publisher and save the
finished presentation in jpeg format. Upload the jpeg image in your
Facebook timeline. It should be viewed as public. Also, submit a
copy of the jpeg image to your teacher.
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Lesson 2 – Marketing Mix (7Ps) in relation to the


Business Opportunity

THE 7P’S OF MARKETING MIX

There are seven components that fused together to achieve a


successful marketing goal which is commonly refer as the 7P’s of
marketing mix. Originally, the marketing mix are comprises only
four components (4P’s): product, price, place and promotion.

But in the past years there are three (3) addition components in
the transition of 4P’s to 7P’s namely: people, packaging and
positioning also called the extended marketing mix.

Below is the simple visual model of the 7P’s of marketing mix.


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1. PRODUCT

It refers to the goods or services purchased to provide benefits and


consumer’s satisfaction.
Product can be categorized according to use, durability and
tangibility.

CATEGORY OF PRODUCT

A. According To Use

There are 2 classification based on the usage of the products. It is


either consumer goods or industrial goods.

Consumer goods are goods purchased by topmost consumers


for personal consumptions such as foods, toiletries, load, etc.

On the other hand, industrial goods are used to produce another


product or so called for commercial use consumption like computer
accessories, lumber, gasoline, etc.

B. According To Durability

Durability can also be classified as durable goods and non-


durable
goods.

Durable goods are goods that can be used for long term period.
(Ex. Appliances, motors and vehicles and others)

Non-durable goods are products to consume commonly for short


time uses. (Ex. Soap, cooking ingredients, foods, etc.)
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C. According To Tangibility

These category are classified as tangible goods and intangible


goods.

Tangible goods are either durable or non-durable products


because of its physical characteristics (can be seen or touch).

Intangible goods refers to the service/s and activities to provide


consumer’s need or satisfaction.
(Ex. Government services, banking services, insurance, etc.)

2. PLACE

It is the process of bringing the product to the consumer. To do so,


a manufacturer acquire passage to send the products through
different chain process called the distribution channel.

The commonly types of distribution channel can be described as


follows:

TYPES OF DISTRIBUTION CHANNEL

A. Zero Stage – direct transaction by the manufacturer to the


consumer
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B. One Stage – the producer sells the product to the retailer


and turns it to the consumer.

C. Two Stage – this channel is applicable where the products


are distributed over a wide area.

Retailer refers to a person who finally sells his/her products direct


to the consumer.
Wholesaler is someone who purchased product in a large quantity
in lower price and sell it to the retailer

3. PRICE
It is an amount of money paid by the consumer in exchange to the
product.
Here are some of the factors that may affect the price of a certain
product:

FACTORS AFFECTING THE PRICE OF A PRODUCT


A. Cost
The price of the product depends upon the cost used in the
production.
If the price is lower than the cost, then it fails the progress of the
business.
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B. Price Objective
Manufacturers may adjust the price higher or lower than its
competitor depending on its market goal. Giving discounts or
rebates to the product is an example of price objective.

C. Legal Or Regulatory Issues


These are laws that control the prices at its highest or lowest value
such as freezing of fixing.

4. PROMOTION
It is a process of communication strategies to persuade or
encourage customers to increase the demand and create loyalty
to the product.
There are some commonly methods of promotional mix. Let us
study each method.

METHODS OF PROMOTIONAL MIX

A. Advertising
It is the most popular paid form means of promotion ideas to
persuade consumers through different medium such as
newspapers, social media, television, etc.

B. Publicity
It is a not paid form of communication by an enterprise which may
consider as public relation. This includes allowing public
interviews, charitable donations, conducting trainings related to
your business and etc.

C. Personal Selling The most effective way of promoting product


to consumers through direct presentation of the desired product.
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D. Sales Promotion
It is designed to encourage consumers through temporary
incentives like giving tokens, serve as a gift, rewards and others.

5. PEOPLE
It is the most significant element in the product and also in services.
People refers to the manpower who provide support to the
products. They are the one who produce, promote and deliver the
goods and services to the consumers.
(Ex. Factory workers, sales person, customer service
representatives etc.)

6. PACKAGING

“First impression lasts.” Every consumer are looking how the


product reveal its appearance outside which is one of the great
technique that affects the decision of the consumers to buy.

There are some techniques to produce packaging. These are


unique, functional, safe, easy to remove and promotional
packaging. Let’s have a brief view of these techniques.

PACKAGING TECHNIQUES

A. Unique Packaging
Packaging design with distinctive appearance better than the
enterprise’s competitor.

B. Functional Packaging
It is the easiest way to increase the existing package of the product
to provide comfort and enjoyment of the consumers.
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(Ex. Products in squeezable pouch, beverages in a can instead of


bottles, ready to mix eat or cook foods and others.)

C. Safe Packaging
Packaging are designed to be tested and proven to the safety of
the consumers such as tightly sealed chemical products to avoid
leak, sealed caps for medicine to secure the safety of children and
many more.

D. Easy To Remove Packaging


The methods of packaging where consumers can easily access to
remove the product without breaking or destroying it. Usually
labeled on the package visible to the consumers like arrows
indicating the upper portion of the product inside the box.

E. Promotional Packaging
Packaging are developed to promote the interest and satisfaction
of the consumers. The benefits and advantages of the product are
most written on the package. Supplement foods and beauty
products are some examples of promotional packaging.

7. POSITIONING

This component concerns on how a product is recognized in the


marketplace through the integration of the 4P’s (product, price,
promotion and place.

Examples:
1. A cellphone producer positioning its product as a value user-
friendly device.
2. Fast food chain claims its product to be the cheapest meal
provider.
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Positioning strategies have several types, here are few examples:

POSITIONING STRATERIES IN MARKETING MIX

A. Position In Advertising

It is very important to determine the needs of your target customer


in order to design appropriate advertisement for your desired
product.

B. Position In Price

This is how the price of your product compares to the demand of


your competitors.

A high valued products tend to have expensive price that the


marketing producer must price in the larger company rather than
smaller one to avoid price comparison.

C. Position In Sales Location

Reaching your consumer is possible by choosing the appropriate


distribution channel. Place your product accessible and can easily
establish its identity to your target market.

So those are the seven components of marketing mix. With the


correct implementation and blended combination of these, make a
perfect desired result of the business.
QUARTER 1-MODULE 3 Entrepreneurship

Activity 2

During the enhance community quarantine, we are required to stay


at home. This time, think of your favorite product found in your
home. If you are a businessman and going to produce new product
similar to your favorite one, how could you make this possible? Use
extra sheet for this activity.
QUARTER 1-MODULE 3 Entrepreneurship
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Lesson 3 – Importance of branding

What Is Branding?

Branding means “the use of a name, term, symbol, or design, or


a combination of these, to identify a product” (Caanon, Perrault,
and Mc Carthy (2008). It comprises the use of brand names,
trademarks, and any other system of product identification.

This is to help identify and distinguish products and services


offered from your competitors. Branding plays a big role because
it does not only give an impression on the company but it also
allows potential market to know what to expect from the product
and services as well as from the company itself. Your brand
represents your identity in the business world and how you want
your customer to perceive who you are.

A brand gives differentiation and distinction from that of the offering


of other company designed to meet similar need. This is to identify
product and services. A brand name connects a product with the
benefit expectation of a customer. A brand name can be a word,
letter or a group of words or letter.

Examples of a brand names are: Palawan; LBC; ABS-CBN; PAL;


Puregold; Jollibee; Cherry Mobile; Metrobank; and CSI.

On the other hand, trademark is a legal term. The Philippine


Intellectual Property Code (IP Code) defines a trademark as “any
visible sign capable of distinguishing the goods(trademark) or
services (service mark) of an enterprise and shall include
stampedor marked container of goods”. Thus a mark (1) must be
a visible sign and (2) must be capable of distinguishing one’s good
QUARTER 1-MODULE 3 Entrepreneurship

and services from those of another. A trademark includes only


those words, symbols, or marks that are registered for the use by
a single company.

Moreover, brand logos are graphic marks or symbols commonly


used by commercial enterprises, organizations and even
individuals to promote instant public recognition. This will serve as
visual identity of the company that will leave a lasting impression
with your market. Below are samples of possible local
trademarks/logos.
QUARTER 1-MODULE 3 Entrepreneurship

Why Branding is Important in Your Business?

Branding is ultimately a taxing task in a business because of the


overall impact it creates on your company. Branding can change
people perception on your brand; it can drive new opportunities
and increase brand cognizance.

A. Branding Increase Awareness and Recognition


The ultimate reason why branding is being done in a company is
increases recognition and awareness thus letting your brand be
known to the public.
The logo is the utmost component of branding, especially for this
factor; it serves as the face value of the company.

B. Branding Intensifies Corporate Value


Branding is important when you are seeking for new opportunities
or even thinking for future business investment. A well-established
brand increases corporate value by giving the company more
control in the industry it belongs.
This paves way to more appealing investment opportunities
because of its strong position in the marketplace.

C. Branding Creates New Customers


A strong brand connects easily with people because of the positive
impression it creates about the company. Due to this very reason,
they are likely to do business with you. A brand that emanates
reliability and trustworthy easily captures the heart of a customer.
Once the brand gained strong place in the marketplace, word of
mouth will be the best and most effective marketing strategy to
generate customer.
QUARTER 1-MODULE 3 Entrepreneurship

D. Improves Employee Pride and Satisfaction


Working for a strong and well-established branded company gives
a feeling of satisfaction and higher degree of pride for the work
they do. Knowing the company serves with full honesty and for the
benefit of the public makes working with them more fulfilling and
satisfying.

E. Creates Trust within the Market Place


Building trust with customers, potential markets, and consumers is
not easily achieved overtime, however with proper branding it can
be easily reached and accomplished. A well-planned appearance
and strategized branding help the company to build trust among
consumers and other stakeholders. Brand representation being
done by the professionals can easily gain trust, thus, creating a
positive impression that makes people do business with you.

F. Branding Supports Advertising


Advertising is one element of branding and advertising techniques
mirror the brand and its anticipated image you want the public to
capture. A properly branded product or service can easily match
organized and interesting advertising strategies that coincide with
your branding goals and objectives. Branding supports and
compliments advertising.

What are the Characteristic of a Good Brand Name?

Identity of products and services should always be unique and


different from that of the competitors. Having discussed and
understood the meaning and importance of branding, now let’s
take a look on the characteristics of a good brand name.
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CHARACTERISTICS OF A GOOD BRAND NAME

How to Brand Products or Services?

Developing your brand is like a journey of making a difference in


business world. There are essential factors to consider in creating
your own brand. To brand a product or a services, at the very least,
then you have to answer the following questions:

1. What is your company’s mission?

The company’s mission serves many purpose. It defines its


culture, values, ethics, objectives, and ultimate goals. It imparts
“WHO” the company is. (e.g BDO Mission Statement, “We are in
business for our customers, shareholders and employees. We
shall deliver creatively innovative products and cross-sell
the BDO Uniband Group’s services supported by procedures,
systems and processes which will ensure utmost customer
QUARTER 1-MODULE 3 Entrepreneurship

satisfaction.)” This mission statement serves as the identity of the


company.

2. What are the benefits and features of your products or


services?

Essential characteristics of products or services offered are clearly


evident for the benefits of the customer. This allows the customer
to know “WHAT” the product or service does. The benefits and
features should be always for customer’s benefits and satisfaction.

3. What do your customers and prospects already think of


your company?

Don’t think about what you think but rather know about what they
think. Focus and start from the needs of your market, hence you
are answering “HOW” you care. If markets known, you from a
service oriented company don’t offer them a product instead
provide them something they need.

4. What qualities do you want customers to perceive about


your company?

Customer perception regarding the image of the company is very


important because the personality and identity depend upon them.
Your company is a promise to your customer. Thus, answer “WHY
YOU EXIST”.

A brand personality is a set of human characteristics that makes


you human in the eyes of your customer. By having this set of
attributes it increases brand loyalty and equity. Having a well-
defined personality, you are giving reason customers to conclude
you are the one for them. This personality is a value-added feature
QUARTER 1-MODULE 3 Entrepreneurship

that brand gain in addition to each purposeful benefits. Below is a


mind map of brand personality that can be of great help in
developing an effective brand name.
QUARTER 1-MODULE 3 Entrepreneurship

Activity 3
Directions: Read carefully and perform what is being asked. Use
separate sheet of paper to answer.
You are a budding businessman and is finally done with the initial
step in establishing a business. Develop a brand name using the
following format.

Branding Worksheet for Your Business

I. Your Identity

Mission: ____________________________________________
Vision: _____________________________________________

II. Your Company

1. WHAT is your business category? _____________________


2. WHERE is your business located? _____________________
3. WHO are you? ____________________________________
4. HOW do you offer your product or services? _____________
5. WHEN did you start your business? ____________________

III. Your Potential Market

Demographics- ______________________________________
Needs/Wants- _______________________________________
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IV. Your Competitors (List at least top 2)


Competitor 1:
A. How are you similar with your competitor?________________
B. How are you different with your competitor? ______________
C. What is your edge? _________________________________

Competitor 2:
A. How are you similar with your competitor? _______________
B. How you are different with your competitor? ______________
C. What is your edge? _________________________________

V. YOUR IMAGE
Brand Identity. List at least three (3) adjectives that describe your
product.
1.
2.
3.
Tagline:
____________________________________________________
____________________________________________________

Brand Logo (Draw an eye-catching logo suitable in the situation


above).
QUARTER 1-MODULE 3 Entrepreneurship

Reflection

In this module, I learned that…


_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
_____________________________________________________________________
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