2nd Semester-Third Quarter: Developing a Plan (DP)

Name: ____________________________________
Address: _____________________________________
Contact No.: _____________________________________

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Introduction
Before going through this lesson, ask yourself if you are
hard-working, smart, creative, willing to take risks and good
with people. If the answer is yes, then take heart, stay
motivated and be steered by your inherent inner drive. You
are on the road to entrepreneurship, the ultimate career in
capitalism in which you put your idea to work in a competitive
economy. Entrepreneurship does not mean sticking to
conventional business. It implies creating new things. Its
emphasis is not merely on idea generation but also on the
promotion and implementation of a new business
environment.

Objectives:
 Discuss the relevance of the course
 Explore job opportunities for Entrepreneurship as a
career
 Recognize a potential market
• Analyze the market need
• Determine the possible product/s or service/s that
will meet the need;
• Screen the proposed solution/s based on viability,
profitability, and customer requirements; and
 Select the best product or service that will meet the
market need.
 Recognize the importance of marketing mix in the
development of marketing strategy Describe the
Marketing Mix (7Ps) in relation to the business
opportunity vis-à- vis:
Product;
Place;
Price;
Promotion;
People;
Packaging; and
Positioning
 Develop a brand name
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Module 1: Developing a Plan (DP)

Lesson 1.1: MEANING OF ENTREPRENEURSHIP

Entrepreneurship may be defined as the visualization
and realization of new ideas by insightful individuals, who are
able to use information and mobilize resources to implement
their vision. Entrepreneurship is the ability (i.e., knowledge
plus skills) of a person to translate ideas of commencing a
business unit into reality by setting up a business on ground
to serve the needs of society and the nation, in the hope of
profits.
Entrepreneurship refers to a system that includes
entrepreneurs (and potential entrepreneurs), institutions and
government actions. The desired policy outcome of this
system is increased levels of entrepreneurial activity.

Lesson 1.2: DEFINITION OF ENTREPRENEURSHIP

Baumol’s definition of entrepreneurship includes all kinds of
opportunityseeking behaviour – in his own words
encompassing, for instance, political rent-seeking and
“organized crime.”
Wennekers and Thurik have probably provided the most
elaborate and inclusive definition:
Entrepreneurship is the manifest ability and willingness of
individuals, on their own, in teams, within and outside existing
organizations to perceive and create new economic
opportunities (new products, new production methods, new
organizational schemes and new product-market
combinations), and to introduce their ideas in the market, in the
face of uncertainty and other obstacles, by making decisions on
location, form and the use of resources and institutions.
Finally, entrepreneurship can be understood as, an economic
process where an idea is generated or an opportunity is
created, refined, developed and implemented, while exposed

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to uncertainty to realize a profit by effective utilization of
resources.
Lesson 1.3: CHARACTERISTICS OF ENTREPRENEURSHIP
i) Entrepreneurship is an economic activity done to create,
develop and maintain a profit-oriented business.
ii) It begins with identifying an opportunity as a potential to
sell and make profit in the market.
iii) Entrepreneurship is the best utilization of available
resources.
iv) Entrepreneurship is the ability of an enterprise and an
entrepreneur to take risk.
Lesson 1.4: WHY ENTREPRENEURSHIP IS IMPORTANT
TO THE ECONOMY
Great entrepreneurs have the ability to change the way
we live and work, on local and national bases. If successful,
their innovations may improve standards of living, and in
addition to creating wealth with entrepreneurial ventures,
they also create jobs and contribute to a growing economy.
The importance of entrepreneurship is not to be understated.

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Entrepreneurs Spur Economic Growth
New products and services created by entrepreneurs can
produce a cascading effect, where they stimulate related
businesses or sectors that need to support the new venture,
furthering economic development.
For example, a few information technology companies
made up the IT industry in India during the 1990s. The
industry quickly expanded and many other sectors benefited
from it. Businesses in associated industries—such as call
center operations, network maintenance companies, and
hardware providers—flourished. Education and training
institutes nurtured a new class of IT workers who were offered
better, high-paying jobs.
Entrepreneurs Add to National Income
Entrepreneurial ventures help generate new wealth.
Existing businesses may remain confined to existing markets
and may hit a limit in terms of income. New and improved
products, services, or technology from entrepreneurs enable
new markets to be developed and new wealth to be created.
Entrepreneurs Create Social Change
Through offering unique goods and services,
entrepreneurs break away from tradition and reduce
dependence on obsolete systems and technologies. This can
result in an improved quality of life, improved morale, and
greater economic freedom.
For example, the water supply in a water-scarce region
will, at times, force people to stop working to collect water.
This will impact their business, productivity, and income.
Community Development
Entrepreneurs regularly nurture ventures by other like-
minded individuals. They also invest in community projects
and provide financial support to local charities. This enables
further development beyond their own ventures.
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 Some famous entrepreneurs, such as Bill Gates, have
used their money to finance good causes, from education to
public health. The qualities that make one an entrepreneur
can be the same qualities that help motivate entrepreneurs to
pay it forward through philanthropy, in a later chapter of life.

Lesson 2: ENTREPRENEURSHIP CAREER

OPPORTUNITIES FOR THE ACADEMIC TRACK

Do you like…
 Making travels from one client company to another
 Helping companies to find their problems
 Recommending solutions to company problems
BUSINESS CONSULTANT- people who can go to a client site,
identify problems and fix them

Do you like…
 Representing a company for a product or service
 Managing accounts for a company
 Following up on customers interested in your products or
services
SALES MANAGER- Someone who knows how to represent a
company, manage accounts and follow up on leads

Do you like…
 Looking for useful facts and information
 Interpreting data and making conclusions
 Understanding business procedures and practices
 Recommending courses of action
RESEARCH AND DEVELOPMENT DIRECTOR- someone
who understands business concepts, systems, procedures
and practices.

Do you like…
 Organizing events
 Building network relationships
 Raising money for a cause

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FUNDRAISER- someone who raises money for a specific
purpose and meant not to make profit but instead for
maintaining the organization or toward the purpose for which
it was created.
- understands the importance of business and
networking relationships

Do you like…
 Speaking in front of many people
 Inspiring young people to have a vision for society
 Sharing your experiences and insights about business
and success
TEACHER- someone to inspire students how to increase their
entrepreneurial intention through acquiring the attitude
towards entrepreneurship

Do you like…
 Talking one on one
 Knowing what motivates people
 Making agreements with people
 Finding the right people for a position
TALENT RECRUITER- someone whose job is in sourcing,
attracting, recruiting, interviewing, and on boarding
employees to an organization
- someone who is people savvy and
has an in-depth business sense as
well

Do you like…
 Dressing up for a speaking engagement
 Interviewing famous business personalities
 Explaining about latest developments in business
 Working with the television crew
BUSINESS REPORTER- someone who can write articles is in
a prime position to take the lead on covering a local business
beat

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NEW VENTURE CREATOR- someone to launch a company,
start a new venture in a family enterprise or commercializing
a technology

Activity No. 1.1 Answer the following questions. Write your

answer on the space provided.

________________________1. Someone to inspire students on

how to increase their entrepreneurial intention through
acquiring the attitude towards entrepreneurship.

________________________2. Someone who knows how to

represent a company, manage accounts and follow up on
leads.

________________________3. Defined as the visualization and

realization of new ideas by insightful individuals, who are
able to use information and mobilize resources to implement
their vision.

________________________4. Someone who raises money for a

specific purpose and meant not to make profit but instead for
maintaining the organization or toward the purpose for which
it was created.

________________________5. People who can go to a client site,

identify problems and fix them.

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Activity 1.2 Answer the following question in 3-5 sentences.

6-10. What is the interrelation of economy and

entrepreneurship?

11-15. How important entrepreneurship is?

Module 2: Developing a Plan (DP)

Lesson 1: RECOGNIZING THE POTENTIAL MARKET
The Entrepreneurial Process
o Opportunity Spotting and Assessment
 Beginning and considered as most difficult
 Entrepreneurs take note of interesting trends in the
environment
 Consumers are reliable sources of opportunity
information

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o Other major sources of opportunity
 problems in the environment
 Problems encountered by co-entrepreneurs
 new trends

o Other minor sources

 Feedback from the business retailers, wholesalers,
manufacturers, and the technical people.
 The entrepreneurs toughest job is to carefully assess the
opportunity through estimation of opportunity length,
capitalization, threats, profitability
 Lastly, entrepreneurs should already think in advance
how they will position the product or service in the
market.

o Developing a Business Plan

 Entrepreneurs should formulate a business plan when
they have already spotted assessed the opportunities for
the market.
 A BUSINESS PLAN is a comprehensive paper that details
the marketing, operational, human resource, financial,
strategic direction, and tactics of the business.
 The business plan will be the core guide and direction of
the entrepreneur in calculating the resources needed,
assessing how to obtain these resources, and running the
business

o Determining the Capital Needed

 It is mandatory in the entrepreneurial process to
calculate the resources needed to establish the business.
 Careful calculation must be applied in computing the
complete set of resources needed and include only those
items that are considered as the real needs in venture
creation.
 Allowance must also be considered

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o Running the Business
 This is the part where the entrepreneur should use the
resources allocated for the new venture.
 All aspects of the business plan should be critically
observed from operations, marketing and sales, human
resources, finance, and the strategy implementation.
 The entrepreneur should have a control and monitoring
system.

o Scanning the Marketing Environment

 Scanning the marketing environment is the starting point
of any new venture that involves understanding and
knowing the complexity of the environment.
 Through scanning the environment an entrepreneur can
recognize various opportunities and understand
thoroughly the arena where the future business will
operate.

o Seeking, Screening, Seizing

 The 3S of opportunity spotting and assessment is the
framework that most of the promising entrepreneurs
use to finally come up with the ultimate product or
service suited for a specific opportunity.
 An opportunity is an entrepreneur’s business idea that
can potentially become a commercial product or service
in the future.

o S1: Seeking the Opportunity

 Opportunity seeking is the first and is the most difficult
process to the number of options that the entrepreneur
will have to choose from. It involves the development of
new ideas from various sources:

o Macro-environmental Sources
 STEEPLED – This is a mnemonic for sociocultural,
technological, economic, environmental, political, legal,
ethical and demographic factors.

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 This represents the general environment where the
entrepreneur can identify business opportunities from
and where the future business is about to operate.
o Industry
 This is the source of current trend on what is happening
in the industry where the future business will belong to.
Ex. An entrepreneur wants to engage into rice retailing,
he or she should know the nature and the happenings of
the rice industry.

o Futuristic Opportunities
 These are the projected new opportunities that can
possibly affect the new business while it is running.
Ex. Sari-sari stores in the future will be able to
incorporate financial transactions such as accepting bills
payment and process remittances.

o Micro-Market Sources
 These are the current needs and wants of the potential
customers that should be discovered right away by a
building entrepreneur.
 A need is recognized when a customer believes that there
is a difference between his or her current situation versus
his or her desired condition.
 A want is recognized when a customer believes that there
is a specific product or service that can perfectly suit the
need.

o Competitors
 Recognizing and understanding potential competitors will
aid the entrepreneur to develop a product or service that
is unique and will surely stand out on the competition.

o Unexpected Opportunities from the Customers

 Oftentimes, the most brilliant ventures come from the
most unexpected opportunities.

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  Existing problems often give rise an unexpected
opportunity.

o Irritants in a marketplace such as deterrents,

problems, complaints, and delays
 Entrepreneurs see opportunities in situations where
there is a recurring problem or sometimes when there is
no more hope in solving the problem.

o Talents, Hobbies, Skills, and Expertise

 Business opportunities do not just come from outside
forces but also from within the entrepreneur.
 The entrepreneurs’ talent, hobbies, skills, and expertise
can be a good source of opportunity.

o Location
 Often, entrepreneurs just have to look at their ecosystem
and they will be able to spot a business opportunity right
away. EX. School

Methods in Generating Ideas

o Focused on Group Discussion (FGD)
 A moderator handles a very open, free flowing, and in
depth discussion with a group of people who can provide
insightful ideas about a new product or service that will
fill a market need.

o Problem-solving Analysis
 This is similar to the FGD except that the participants are
already given an inventory of product or service problems.
The participants will just identify from the list given the
compelling problems of a potential product/service
instead of generating new ideas.

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 o Brainstorming
 Similar to FGD, brainstorming is an activity that allows
the participants to share creative ideas using the
following rules
No destructive criticism or judgment allowed
Wilder ideas are accepted
More ideas are preferred
Improvement of others’ ideas is allowed

o Brain writing or Internet Brainstorming

 This is exactly the same as brainstorming except that the
channel used is not face-to-face, but in writing or online

Macro-environmental Sources
o STEEPLED Analysis
 The result of the STEEPLED scan will aid the
entrepreneur in deciding what product or service to set up
and whether this new venture will succeed or not. It can
help the entrepreneur to check if there is a compelling
business opportunity or threat.
Socio-Cultural Factors
These factors represent a general view of a locality’s traditions,
customs, beliefs, norms and perceptions. These factors affect
how a person of the locality behaves and reacts to marketing
and selling activities. The entrepreneur should take note of
the following sociocultural factors:
Health consciousness
Educational level
Attitudes towards imported goods and services
Attitudes toward the person’s lifestyle
Attitude toward product quality and customer service
Attitudes toward saving and investing
Emphasis on safety
Buying habits

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 Religion and beliefs

Technological Factors
These are composed of innovations of an existing technology
or an invention. Entrepreneurs should always be up-to-date
with the technological changes, as these are catalysts in
improving a product or service or replacing them entirely.
The entrepreneur should take note of the following
Technological factors:
Basic infrastructure
Rate of technological change
Spending on research and development
Technology incentives
Legislation regarding technology
Communication infrastructure
Access to newest technology
Internet infrastructure and penetration

Economic Factors
These factors play a vital role in scanning of marketing
environment because economic factors directly affect any
business venture. These factors include income, expenses,
and resources, that can influence the cost of doing and
generating income.
The entrepreneur should take note of the following Economic
factors:
Exchange rates
Unemployment trends
Labor Cost
Stages of Business Cycle
Trade flows and patterns
Level of consumers’ disposable income
Monetary policies
Price fluctuations
Stock Market Trends
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Environmental or Ecological Factors
The scan of these factors will help the entrepreneur determine
if the business he or she is entering into will comply with the
environmental standards or will just be a hazard to people,
animals, and nature.

The entrepreneur should take note of the following

Environmental or ecological factors:

Weather
Climate Change
Laws regulating environmental pollution
Air and water pollution
Recycling
Waste management
Attitudes toward “green” or ecological products
Endangered Species
Attitudes toward and support for renewable energy
Political Factors
These factors are mostly induced by the government policies
and administrations, which can have a strong effect in the
entrepreneur’s business.
The entrepreneur should take note of the following Political
factors:
Government Stability and likely changes
Bureaucracy
Corruption level
Tax policy
Freedom of press
Rule of Law
Government Effectiveness
Political Rights

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Legal Factors
Related with political factors, legal factors are government
laws and regulations that can restrict or allow business
activities.
The entrepreneur should take note of the following Legal
factors:
Anti-trust law
Discrimination law
Copyright, patents/intellectual property rights
Consumer protection
Employment law
Health and Safety law
Data protection law

Ethical Factors
These are the factors that will serve as an entrepreneurs’ guide
on how to be ethical in running the business.
The entrepreneur should take note of the following Ethical
factors:
Ethical advertising and sales practices
Accepted accounting, management, and marketing
standards
Attitude toward counterfeiting and breaking patents
Attitude toward development and well-ding of employees

Demographic Factors
These are the characteristics of the people in the target
market.
The entrepreneur should take note of the following
Demographic factors:
Population growth rate
Age distribution and life expectancy rates
Gender distribution
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 Social Classes
Family size and structure
Minorities

S2: Screening The Opportunity

It is a process of cautiously selecting the best opportunity. The
selection will depend on the entrepreneurs’
 internal intent, i.e. the main objective that the business
will accomplish in the entrepreneur’s life
 external intent which will address the compelling needs
of the target.

The entrepreneur should apply due diligence and independent

judgement in selecting the opportunities that have a potential
and eliminate those that are not within the scope of the
entrepreneur’s risk appetite. Risk appetite refers to the
entrepreneurs’ tolerance of business risks.
TIME must be considered by the entrepreneur in screening
the opportunities at hand, as it is considered of the most
critical resources of an entrepreneur. Time should only be
devoted to worthwhile opportunities.
Therefore, entrepreneurs must always be sharp-eyed for real
opportunities. They must be able to intelligently say no to low
compelling opportunities and proceed with sensible ones.
The most important elements that are always present in a
opportunity. The entrepreneur should say no to an
opportunity if it does not contain any of these business
opportunity elements:
Has superior value to customers
Solves a compelling problem, issue, a need or a want
Is a potential cash cow
Matches with the entrepreneur’s skills, resources, and
risk appetite.

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S3: Seizing the Opportunity
This the “publishing through” with the chosen opportunity.
Entrepreneurs should make the best out of this opportunity,
and they should exert effort and dedication for the future
success of the new venture. Entrepreneurs idea can any be
type of innovations.
Innovation is the process of positively improving an existing
product or service. It is a key driver for economic growth.
Innovation is inevitable as the world constantly changes.
Therefore, the products and services must also adapt to these
changes.
Breakthrough innovation
These innovations, which may also include inventions, occur
infrequently as these establish the platform on which future
innovations in an area are developed. Breakthrough
innovations must be protected by a patent, a trade secret, or
a copyright.
Examples: Internet, computer, airplane
Technological innovation
These innovations are technological advancements of an
existing product or service. These innovations need to be
protected.
Ex. Wireless Fidelity, laptop
Ordinary Innovation
They are commonly originating from market analysis and
technology pull instead of a technology push. This means that
the market has a strong influence in the implementation of
an innovation.
Ex. Unlimited internet plans of telecommunications, wireless
mouse

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Product or service planning and development process
In the seeking process, one opportunity stood out from a
number of sources. The opportunity was tested according to
its attractiveness and feasibility in the screening process.
The last process, called product or service planning and
development process.
Idea stage
In this stage, the entrepreneur determines what are the
feasible products or service that will perfectly suit the
opportunity. Usually, a market evaluation is conducted by the
entrepreneur to assess whether the new product or service
ideas will be accepted by the market using values and benefits
to consumer metrics.
On the other hand, the value of the new products and services
should also be assessing if these will benefit the entrepreneur.
Product and services that are unappealing to the market
should be eliminated at this stage.
Concept stage
In this stage the developed idea will undergo a consumer
acceptance test. This test includes getting the initial reactions
of the primary target market and the distribution channel.
Conversational interviews are conducted to understand
consumer preference on physical characteristics and
attributes of a product or the physical evidence of a service.
Both favorable and unfavorable results will be used to devise
an acceptable product or service. This will also be used to
compare new idea with the competition with regard to the
superiority or inferiority.
Product development stage
In this stage, the entrepreneur leverages on the information
generated from the prospective customers via the concept
stage. Actual reactions from prospective customers are
determined. The entrepreneur will conduct a consumer panel
where the actual product samples or actual service samples
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will be given or rendered to panel of potential customers. The
participants’ task is to critique the actual product or service
and record the good qualities and inferior attributes. They are
also given samples of competitors’ products or services for
comparative purposes.
Test marketing stage
This stage validates the work done from the first three stages
to measure success in the commercialization of the product or
service. Actual sales results will be the foundation of the
customer’s acceptance level and will be the basis in
commercializing the product or service.

Activity No.2. Identify what is being asked for. Write your

answers on a space provided.

_________________________1. In this stage, the entrepreneur

determines what are the feasible products or service that will
perfectly suit the opportunity.

_________________________2. It is the process of positively

improving an existing product or service.

_________________________3. It refers to the entrepreneurs’

tolerance of business risks.

_________________________4. These are the factors that will

serve as an entrepreneurs’ guide on how to be ethical in
running the business.
_________________________5. These factors include income,
expenses, and resources, that can influence the cost of doing
and generating income.

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_________________________6. In this stage the developed idea
will undergo a consumer acceptance test.

_________________________7. These are the projected new

opportunities that can possibly affect the new business while
it is running.

_________________________8. This stage validates the work

done from the first three stages to measure success in the
commercialization of the product or service.

_________________________9. These innovations are

technological advancements of an existing product or service.
These innovations need to be protected.

_________________________10. It is a comprehensive paper that

details the marketing, operational, human resource, financial,
strategic direction, and tactics of the business.

Module 3: Developing a Plan

Lesson 1: How to Develop an Effective Marketing Mix
Once you have identified your target audience and the
competition, the next thing on your to-do list should be
developing a marketing mix.
Every business needs its very own marketing mix to appeal
to its customers. In this post, we will discuss the marketing
mix definition, its importance, the elements of marketing
mix and how to develop an effective marketing mix for your
product or service.

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What is a Marketing Mix?
Marketing mix is a set of actions a business takes to build and
market its product or service to its customers.

It helps to make sure that you are able to offer your customers
the right product, at the right time and at the right place for
the right price.

Whereas traditionally the marketing mix was executed

through the 4 Ps of marketing, nowadays 3 more additional
tools have been added to the mix, making it the 7 Ps of
marketing. Businesses use a blend of these marketing mix
elements to generate the response they want from their
audience.

Importance of Marketing Mix

There are several benefits of the marketing mix that makes it

important to businesses;

 Helps understand what your product or service can offer

to your customers
 Helps plan a successful product offering
 Helps with planning, developing and executing effective
marketing strategies
 Helps businesses make use of their strengths and avoid
unnecessary costs
 Helps be proactive in the face of risks
 Help determine whether your product or service is
suitable for your customers
 Helps identify and understand the requirements of
customers
 Helps learn when and how to promote your product or
service to your customers

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How to Develop a Marketing Mix

Define Your Goal and Set a Budget

Developing an effective marketing mix starts with setting the
right goals. Establish what you want to achieve with your
marketing plan; is it to grow sales? Acquire more customers?
Build brand awareness?

Once you have set realistic and measurable goals, determine

how much you are willing to spend on achieving your
objectives.

Study Your Target Customer

In order to build a product or service that your customers
would want to buy, you need to know who they are.

Find different segments in your target audience and create

separate customer profiles for each. Refer to these when you
are developing your strategies.

Identify Your Unique Selling Proposition

Clarify what your unique selling proposition is through
customer surveys, interviews, focus groups etc.

Here you will identify the benefits your product or service will
bring to your customer, and how you are better than anyone
else in solving their problems.

Understand Your Competition

Carry out a competitor analysis to understand the different
strategies and tactics used by your competitors. This
knowledge will be especially helpful when you are creating
your pricing strategy.

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Identify the Unique Features of Your Product
List down the unique qualities and the value of your product.
You can build on these when you are marketing it to your
customers.

Create a Pricing Strategy

Using the competitor research, you have done, build a pricing
strategy. Make sure that you have not overpriced or
underpriced your product.

Choose Your Distribution Channels & Promotional

Methods
Choose the channels you will be distributing your product
through based on the type of your product or service and your
target customer.

And select the promotional techniques you want to choose

based on your budget, and again the customer and your
product.

Activity No. 3. Fill in the blanks.

1. _________________________ is a set of actions a business
takes to build and market its product or service to its
customers.

2. Developing an effective marketing mix starts with setting

the right ____________________.

3-4. Using the competitor research, you have done, build a

pricing strategy. Make sure that you have not
_______________________ or _____________________ your
product.

5. Carry out a ______________________ to understand the

different strategies and tactics used by your competitors.

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6. Clarify what your _________________ selling proposition is
through customer surveys, interviews, focus groups etc.

7-8 Choose the _______________ you will be distributing your

product through based on the type of your product or service
and your target __________________________.

9. Once you have set ___________________ and

____________________ goals, determine how much you are
willing to spend on achieving your objectives.

Module 4: Developing a Plan (DP)

Lesson 1: THE 7P’S OF MARKETING
What is Marketing?
 Marketing is a communicating the value of a product,
service or brand to customers, for the purpose of
promoting or selling that product, service, or brand.
 Marketing techniques include choosing target markets
through market analysis and market segmentation, as
well as understanding consumer behavior and advertising
a product’s value to the customer.

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Product- The product is the primary – though not the only
– component of the 7p’s o the marketing mix. Marketing
consultants will consider carefully which features of the
product are most likely to appeal to its target market, as
well as taking into account factors such as the life span
of the product, and its potential for diversification and
development.

Price- The price that is set for a product not only

determines the amount of profit the business will be able
to make from it (and therefore how many units will need
to be sold), but also affects the value of the product as
perceived by the consumer. Many consumers will use the
product’s price as a means of judging its quality, and most
will compare the price with that of similar products before
deciding which to purchase.

Place- Products are not only sold in shops- they may also
be sold door-to-door, online, or in trade fairs or markets.

Promotion- This is an umbrella term, covering all the

media by which a business informs customers about its
product – including advertising, public relations and sales
promotion.

People- Knowing the customer is the linchpin of a

successful marketing strategy – without accurate
customer profiling, none of the other 7 P’s of marketing
mix can be correctly channeled, and the product may well
fail to sell.

Positioning- One of the most important of the 7 P’s of

marketing mix, positioning refers to a product’s status in
relation to the wider market, particularly how it lines up
against competitors.

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 Packaging- This refers not just to the way in which a
product is wrapped, but also to its overall presentation,
and the way in which its physical arrangement is designed
to attract the customer.

Activity No. 4. Answer the following questions in 3-5

sentences.
1. What do you thinks is the importance of the 7 P’s of the
marketing mix in developing a marketing strategy in the
business?

2. What is the use of 7 P’s in starting a business?

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Module 5: Developing a Plan (DP)
Lesson 1: BRAND NAME
A brand name or trade name is a name (usually a proper
noun) applied by a manufacturer or organization to a
particular product or service. While a brand name is
sometimes simply the name of the founders of a company,
such as John Deere or Johnson & Johnson (founded by
brothers Robert Wood, James Wood, and Edward
Mead Johnson), these days, brand names are most often
strategically thought-out marketing tools geared toward
establishing consumer awareness and fostering brand
loyalty.

What is the Purpose of a Brand Name?

In its simplest form, a brand name is a form of a signature
that gives credit to the creator of a particular work or service
and sets it apart from those created by others. Two of the main
purposes of brand names are:
 Identification: To differentiate a particular product or
service from other like or similar brands.
 Verification: To authenticate that a product or service is
the genuine or desired article (as opposed to a generic or
knock-off).
It's the same principle as artists signing their paintings,
journalists getting a byline, or designers attaching a brand
logo. A brand name is what consumers use to identify the
provenance and authenticity of the things they consume—be
it a work of art, a film franchise, a TV show, or a cheeseburger.
The terms "brand" and logo" are often used interchangeably.
But though a logo can be the symbol of a business, it is not
the entirety of a brand. In fact, creating a logo is just one small
step toward developing a strong brand identity.
With millions, if not billions, of businesses trying to make a
name for themselves, having a strong brand has become
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crucial for businesses to differentiate themselves from their
competitors.
If you're working to develop your first brand identity for a
client, or you're doing this for your own business, it's
important to first understand what a brand is and what it
takes to create one. Unfortunately, it's not as easy as giving
the business a name and plastering it on everything.

What is brand identity?

A brand identity is made up of what your brand says, what
your values are, how you communicate your product, and
what you want people to feel when they interact it. Essentially,
your brand identity is the personality of your business and a
promise to your customers.
As Jeff Bezos says, "Branding is what people say about you
when you're not in the room."
Your product leaves an impression on your customers long
after you've made the sale. Brand identity is the process of
shaping that impression.

Activity No. 5. Answer the following questions in 3-5

sentences.
1. What makes a brand name effective?

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2. What are the factors need to be consider in making a
brand name?

RUBRICS

Level Description (Outstanding) Well written and very

organized. Excellent grammar mechanics. Clear and concise
statements. Excellent effort and presentation with detail.
Demonstrates a thorough understanding of the topic.
Value: 5
Level Description (Good)- Writes fairly clear. Good
grammar mechanics. Good presentation and organization.
Sufficient effort and detail.
Value: 4
Level Description (Fair)- Minimal effort. Minimal grammar
mechanics. Fair presentation. Few supporting details.
Value: 3
Level Description (Poor)- Somewhat unclear. Shows little
effort. Poor grammar mechanics. Confusing and choppy,
incomplete sentences. No organization of thoughts.
Value: 2
Level Description (Very Poor)- Lacking effort. Very poor
grammar mechanics. Very unclear. Does not address topic.
Limited attempt.
Value: 1

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 PERFORMANCE TASK NO. 1
“My Business Logo”

Directions: Using the canva app. Create your own LOGO on

the business you have envisioned. Print it and paste it here.
(50 points)

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References:
https://nios.ac.in/media/documents/249_Enterpreneurshi
p/English_pdf/249_Enterpreneurship_Lesson_1.pdf
https://www.investopedia.com/articles/personal-
finance/101414/why-entrepreneurs-are-important-
economy.asp
https://www.slideshare.net/rarepacer/entrepreneurship-
introduction-part-4-career-opportunities
https://slideplayer.com/slide/16640533/
https://creately.com/blog/diagrams/elements-of-marketing-
mix/
https://www.slideshare.net/kkpanchal/7ps-of-marketing-
45928315
https://www.thoughtco.com/what-is-brand-name-1689036
https://blog.hubspot.com/agency/develop-brand-identity

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