ENTREPRENEURSHIP

Introduction to Entrepreneurship
Developing a Business Plan

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Section: _____________________________ Date: __________________

Background Information for Learners

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ENTREPRENEURSHIP
Introduction to Entrepreneurship
Relevance of the course

Name: _____________________________ Quarter 3 Week 1

Section: _____________________________ Date: __________________

Background Information for Learners

Background Information for Learners

Marketing Mix
Marketing may refer to the process of value exchange that is facilitated by the 4P’s. The term
marketing mix is a foundation model for businesses, historically centered around the product, price,
place and promotion. The marketing mix has been defined as the “set of marketing tools that the firm
uses to pursue its marketing objectives in the target market”. Thus, the marketing mix refers to four
broad levels of marketing decision.

What Is Marketing Mix?

Businesses have technically always used marketing tools to promote and sell their work, but the
term "marketing mix" was coined in the mid-20th century. One of its first uses was in a 1953
address to the American Marketing Association, in which Harvard professor and marketing expert
Neil Bordon outlined how marketers develop and execute a successful marketing plan.1

Identifying and arranging the elements of its marketing mix allows a business to make profitable
marketing decisions at every level. These decisions help a business:

 Develop its strengths and limit its weaknesses

 Become more competitive and adaptable in its market
 Improve profitable collaboration between departments and partners

Since the 1950s, the elements of marketing mix have undergone various transformations in
response to new technologies and other changes in marketing best practices.

The Four Ps of Marketing Mix

Since the 1960s, marketing mix as been associated with the four Ps: price, product, promotion,
and place.2

 Price. The cost to purchase a product. Price depends on the customer's perceived value of
the product, and it can dramatically change your marketing strategy. A lower price makes a
product accessible to more customers, while a higher price appeals to customers seeking
exclusivity. Either way, the price must be greater than the cost of production so your
business can make a profit.
 Product. What is being sold. Marketers must consider the life cycle of the product to
address any challenges that may arise once it's in the hands of the consumer. For example,
the earliest version of the iPod had a battery life problem that was only noticeable after a
certain amount of time, and Apple needed to develop ways to combat that problem.
 Promotion. Advertising, direct marketing, and sales promotion. TV commercials, Internet
ads, catalogs, trade fairs, billboards, and even ads on the top of taxi cabs are all types of
promotion. This category also includes public relations, such as the distribution of press
releases or ongoing relationships with the media. Promotion encompasses what is
communicated, who it is communicated to, how that audience is reached, and how often
promotion happens.
 Place. Any physical location where the customer can use, access, or purchase a product.
This includes distribution centers, transport, warehousing, inventory decisions, and
franchises.

ENTREPRENEURSHIP
 Introduction to Entrepreneurship
Relevance of the course

Name: _____________________________ Quarter 3 Week 1

Section: _____________________________ Date: __________________

Background Information for Learners

 A marketing expert named E. Jerome McCarthy created the Marketing 4Ps
4P’S OF MARKETING in the 1960’s. This classification has been used throughout the world. It is
MIX the foundation of the idea of marketing mix. Let us now describe the 4P’s of
Marketing mix.

PRODUCT

A Product is a tangible or intangible item

that is built or produced to satisfy the needs
of a certain group of people. It is in the form
of a service or goods. To ensure the right
product, an entrepreneur must know the
demand of their consumer in the market.
They must also know how to create the right
product mix by expanding and diversifying
the depth of your
product line. A product has a certain life cycle that includes the growth phase, the maturity phase
and the sales decline phases. During the product development phase, the entrepreneur must do an
extensive research of the product that they are creating. Another product must be developed to
maintain the progress and its life cycle to gain more profit even there will be changes in the
economy. In developing the right product for your business, you must answer the following
questions:
 What does the client want from the service or product?
 How will the customer use it?
 Where will the client use it?
 What features must the product have to meet the client’s needs?
 Are there any necessary features that you missed out?
 Are you creating features that are not needed by the client?
 What’s the name of the product?
 Does it have a catchy name?
 What are the sizes or colors available?
 How is the product different from the products of your competitors?
 What does the product look like?
 The Price of the product is the
PRICE
amount that the customer pays for
them to satisfy. It is the important component of a
marketing plan to determine if the business will
gain profit and survive. It gives an impact on the
entire marketing strategy affecting the sales and
demand of the product. If a company is not yet
popular and does not yet make a name in the
market your target customer will unlikely pay a
high price for the product being sold. The value
of
the product depends on its price. A low price of the product usually means an inferior good in the
consumers eyes as they may compare your product to your competitor. Making it affordable with
good quality may encourage customer to purchase and share it with others to buy. On the contrary,
a too high price of the product will make the cost outweigh the benefits in customers eyes, and they
will therefore value their money instead of having your product purchased. Be sure to know and
examine your competitors pricing so that you may adjust and benefited to price competition. When
setting the product price, marketers should consider the perceived value that the product offers.
There are three major pricing strategies, and these are:
 Market penetration pricing – It is a pricing strategy where the price of a product is initially
sent low to rapidly reach a wide fraction of the market and initiate word of mouth.
 Market skimming pricing – It is a pricing strategy in which a marketer sets a relatively high
initial price for a product or service at first, then lowers the price over time.
 Neutral pricing -Generally a default strategy to minimize the role of pricing in the
marketing mix, not utilizing price to gain or restrict market share.
Here are some of the important questions that you should ask yourself when you are setting the
product price:
 How much did it cost you to produce the product?
 What is the customers’ perceived product value?
 Do you think that the slight price decrease could significantly increase your market share?
 Can the current price of the product keep up with the price of the product’s competitors?
 PLACE
A Place is the position and
distribution channel of the product to make it
accessible to the potential buyers. An
entrepreneur must examine and study the
location of its buyer to easily deliver the
product that the customer needs. An
entrepreneur must also know the nearest
suppliers to reduce the cost of transportation
for the raw materials to be used in making the product or services.
There are many distribution strategies, including:
 Intensive distribution – It mainly means a distribution on a large-scale and displaying the
product in as many ways and places as possible so that the customer sells in high volume
due to large scale distribution.
 Exclusive distribution – It is an agreement between supplier and retailer that grants the
exclusive rights within a specific geographic area to carry the supplier’s product.
 Selective distribution – It is a retail strategy that involves making a product or group of
products available only in certain markets.
 Franchising – An agreement where one party (the franchiser) grants another party (the
Franchisee) the right to use its trademark or trade-name as well as certain business
system and processes, to produce and market a good or service according to certain
specifications.
Here are some of the questions that you should answer in developing your distribution strategy:
 Where do your clients look for your service or product?
 What kind of stores do potential clients go to? Do they shop in a mall, in a regular brick
and mortar store, in the supermarket, or online?
 How do you access the different distribution channels?
 How is your distribution strategy different from your competitors?
 Do you need a strong sales force?
 Do you need to attend trade fairs?
 Do you need to sell in an online store?
 PROMOTION Promotion is a very
important component
of marketing as it can boost brand
recognition and sales. It comprises the
various elements like sales
organization, public relations,
advertising, and sales promotion.

Sales Organization – is a part of the

total business organization of a firm.
This unit of the firm is concerned with
distribution of goods or services. It
may
be produced by the organization itself or may be purchased from manufacturers for resale.

Public relation – It is the practice of deliberately managing the release and spread of
information between an individual or an organization and the public to generate awareness
and positive responses to products and services of the business.

Advertising – It is the activity or profession of producing advertisement for commercial

products or services. It is a marketing tactic involving paying for space to promote a
product, service, or a cause. The goal of advertising is to reach out people most likely to be
willing to pay for a company’s product or services and entice them to buy.
Sales promotion – It is the process of persuading a potential buyer to buy the product
designed to be used as a short-term tactic to boost sales.

In a contemporary time, there seems to be a shift in focus from offline to the online world.
Promoting a product or services using the social media is beneficial to the business owner to reach
out more customers and suppliers. An extremely good example of this is online social media and
managing a firm's online social media presence.
In creating an effective product promotion strategy, you need to answer the following questions:
 How can you send marketing messages to your potential buyers?
 When is the best time to promote your product?
 Will you reach your potential audience and buyers through television ads?
 Is it best to use the social media in promoting the product?
 What is the promotion strategy of your competitors?
Your combination of promotional strategies and how you go about promotion will depend on your
budget.

MULTIPLE CHOICE
Directions: Circle or darken the letter that corresponds to the BEST answer.

1. A manager of Venezia Hotel must make marketing decisions to help it stand out
from its competition. To make these decisions, they must determine all but which of
the following?
A. What customers want
B. When customers want their services
C. How to provide services to customers
D. How to persuade customers to patronize the hotel
2. Raven Fredric decides that Lighthouse Hotel is going to offer a free Sunday brunch to
weekend guests in an attempt to increase the weekend business. What pricing approach is
he using?
o A. Loss leader
o B. Cost-plus pricing
o C. Customer-based pricing
o D. Yield management
3. When discussing marketing, what does “product” refer to?
o A. The location on which the hotel is built
o B. The hotel’s concept
o C. The hotel’s advertising
o D. The price at which rooms are sold
4. Which of the following is not a category into which promotional activities are classified?
o A. Personal selling
o B. Public relations
o C. Point-of-purchase communications
o D. Yield management
5. It can be a meal or some other tangible item that a hotel or restaurant provides to its
guest. It can also be an intangible service or a hotel or restaurant’s concept.
o A. Product
o B. Price
o C. Place
o D. Promotion
6. Is the amount that a hotel charges for its product.
o A. Product
o B. Price
o C. Place
o D. Promotion
7. Is the physical location of a business and the site where the reservation for the hotel is
made.
o A. Product
o B. Price
o C. Place
o D. Promotion
8. Is the decisions made about how to communicate the product, place, and price of the
hotel. It is made up of several promotional activities.
o A. Product
o B. Price
o C. Place
o D. Promotion

9. It is the process of persuading a potential buyer to buy the product designed to be used
as a short-term tactic to boost sales.
A. Sales organization
B. Advertising
C. Public relation
D. Sales promotion

It is an agreement between supplier and retailer that grants the exclusive rights within a specific
geographic area to carry the supplier’s product.
A. Intensive distribution
B. Exclusive distribution
C. Selective distribution
D. Franchising

The 7P’s model is a marketing model that modifies the 4P’s model. It is
generally used in the service industries.
7P’S OF MARKETING MIX

Here are the additional elements that transition the 4P’s to

the 7P’s marketing mix model.

People makes the business run.

PEOPLE
Looking for the right person in the

business is one of the important elements in

marketing mix model. They are the
employees who do the work, produce the
product, and the ones who deliver the product
or services. A selection of skilled personnel is
needed to make the business run smoothly
and successful. It is important to hire and
train the right people to deliver superior
service to the
 clients. When business finds people, who believe in the product or services that the particular
business creates, it’s highly likely that employees will perform the best they can. They are the
internal competitive advantages a business can have over other competitors which can inherently
affect a business’s position in the market.

PROCESS Process refers to the

flow of activities or
mechanism that take place when there is
an interaction between customers and
the businesses. It is a systems and
processes of the organization that affects
the execution of the service. A
combination of some consecutive things
or objects that may enable an
entrepreneur to achieve a certain goal in
a structured way. They develop some of
the processes regarding marketing
decisions like marketing segmentation,
customer needs, identification,
promotional campaign designing, and
some other essential process.
Example of the
process would be when a customer decides to subscribe to a telecommunication company to install
telephone and internet equipment. The customer will apply by submitting its requirements and pay
the necessary fees. After processing its application, the company then install the telephone and
modem for them to access the internet service. It is now a relationship for a given time that the
customer will be paying monthly, and the company will give its service according to their contract
plan.

TYPES OF 1. Technological processes. The process of creating tangible products is

PROCESS
called technological process. The objectives to ensure that the customers
feel
the product to be theirs. The manufacturer should ensure that he creates the product that is wanted
by the customers and should also make the products that he as a businessman would want to sell in
the market. The balance between both would ensure that the technological process would run
smoothly.
2. Electronic processes. Use of receipts or barcodes or forms or other methods of information
about a product of a company that manufactures them is called an electronic process. This also
includes the course which is used to scan with the help of an application using a mobile phone.

3. Direct activities. Direct activities, as the name suggests, is about the reactions of the customers
regarding the process. How did they feel about the process that they just underwent through is
known thereby making any changes if necessary, in order to make the process more smoother.
Direct activities are occurred and recorded in present time

4. Indirect activities. When the interaction does not take place in person and it happens before or
after the product has been bought is termed as an indirect activity.

Processes in something as a tool to create something enormous or

MIXING monumental. For example, the combination of telemarketing and internet
PROCESS marketing is used to promote a certain service or a product to the targeted
set of customers.

1. Workflow. Movement of information or tasks for material from

CONCEPTS RELATED one participant to the other is termed as workflow. This includes
TO PROCESS but is not limited to people and tools procedures that are involved
in every step of the marketing mix process.

The workflow may be sequential that is the consequent step is begin only when the prior step is
completed or parallel that is multiple steps may occur at the same time. Single workflows may be
combined in multiple ways to have an overall process.

2. Business process reengineering. Business process reengineering commonly abbreviated as BPR

is a means to enhance or improve the effectiveness of the organization along with its productivity.
It consists of starting right from the beginning or from scratch and creating a major business
process along with the application of IT or information technology in order to achieve significant
improvement of performances.

3. Business process management. Business process management is commonly abbreviated as

BPM. It is defined as a discipline which has a mix of different business activities and their flows
and which strives to support the vision and mission of business within and also beyond many
boundaries which one was people customers internal the employee’s external stakeholders as
well as external partners.
4. Total quality management. Commonly abbreviated as TQM, Total Quality management is
sought in order to improve the quality of the product. Six sigma method was used by Motorola in
order to find out about total quality management.

It consists of methods to improve the processes in the business and thereby reduce the problems in
the output increase the output and thereby maximize the profits.

PHYSICAL In the service

EVEIDENCE industries, there
should be physical
evidence that the service was delivered. It
pertains on how a business and its products
are perceived in the marketplace. It is the
physical evidence of a business’
presence and
establishment. They are generally market
leaders that establishes a physical evidence
that the customer will go when buying things
that they need. Example of a physical
evidence is
when you think of a place where all the things you need are already in that place like SM City
Olongapo Central in Olongapo City is a much-awaited supermall that put excitement to the people
for their spin on shopping, dining and entertainment. The mall is a unique mix of local, national,
and global brands that suit every mall-goer’s need. This physical evidence is where you
immediately know exactly what their presence in the marketplace. So when you think of a
branding concept, if asked of a place to go, you think of a “Mall”, you would probably say of SM
because “They got it all, for You”. This manipulated their customers perception when asked for a
different brand it is already inside in that place.
 A Brand is name, term,
DEVELOPING A BRAND
design, symbol, or any other
NAME
features that identifies one
seller’s good or service as distinction from those of
other sellers. If you are ready to brand yourself or your
business, you need to have a clear understanding of
what developing a brand involves before you really get
started. Your brand-development process should always
follow these steps:

1. Decide what you’re going to brand. Are you branding a product or a service? A company or an
individual? If a product, think of something that you think your target will be interested. It might
be tangible or intangible item that is easy to make and available with the supplier. If it is a service,
think of a demand in the market today. As we are experiencing pandemic what do you think is a
possible service that you could provide to your target market. Are you establishing a company?
Who will compose your team or your workforce? Do they have enough funding to establish your
company? An individual? Are you ready to create your own business alone?

2. Do your research. First, find out everything there is to know about your market. Then, find out
everything there is to know about your product or service. Research and Development is an
important factor to be successful in putting up a business. It is a way of knowing what product or
service will be a demand in the market? In your years of stay in Senior High School you were
taught on how to write and develop your own research. This will be a great help for you to start
with.

3. Position your product or service. Find and win a place for your offering in the marketplace and
in consumer’s mind by providing unique solutions to problems or need that aren’t already being
addressed by competing products. A Place is the position and distribution channel of the product
to make it accessible to the potential buyers. You must examine and study the location of your
buyer to easily deliver the product that your customer needs. In the customers perspective, they
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will choose a product or service nearest to their residence so when they encounter problem to
the product or service it will be easy for them to return for a replacement.

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4. Write your brand definition. Your brand definition describes what you offer, why you offer it,
how your offering is different and better, what unique benefits your customers can count on, and
what promise or set of promises you make to all who work with and buy from your business. In
writing your brand, it is important that you know your mission, vision, and objectives. Describe
your brand that is easy to remember and catchy messages to your target customers.

5. Develop your name, logo, and tagline. Your name is the key that unlocks your brand image in
your consumer’s mind. Your logo is the brandmark or symbol that serves as the face of your
brand. Your tagline is the memorable phrase that provides consumers with a quick indication of
your product, brand, and market position. Your business name refers to a name that is different
from a true name of an individual which is to be used or signed in connection with your business
on any written or printed receipts, including business taxes duties and fees collected to the
business owner. A logo is a symbol, designed to represent your organization or to identify your
products used to aid and promote public identification and recognition. It is an abstract or
figurative design with text. Make sure to make it easy for the customer to remember the images.
A tagline on the other hand, is a phrase or slogan used in advertising to impress and encourages
the customer to patronize your product or service offered to them.

6. Launch your brand. Your brand goes public when you unveil your name, logo, and slogan, and
when you begin to tell your market the story of how your brand reflects what you stand for. A
new brand must get to make a splash in the market if it’s going to be successful. You’ve got to
stand out in the crowd to present your product or service. Make sure to allot enough time to
prepare your presentation to the public. Giving yourself more time also helps to develop hype for
your brand while giving you ample time to make sure that all is ready. Your goal is to develop a
marketing strategy for launching your product or service. Make sure that your presentation
belongs to your target audience. It’s no use promoting it to people who are not interested, so get
to know your potential buyers. In addition, make a research to your competitor to find out what
niche they might be missing out on, then go after the market.

7. Manage, leverage, and protect your brand. This is the “care and feeding” phase of the

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branding process; it’s the step that leads to a strong, healthy, resilient brand. Just like good
parenting, good branding management can be summed up in a single word — consistency. Your
brand image is an

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 important factor in determining your success, which is why it is absolutely necessary to make sure
it’s protected at all cost. Knowing how to prevent it from being diluted, damaged or taken
advantage if misused by competitors, counterfeiters, or unrelated companies. Managed to apply
and register your brand to the right agency for trademarking is one of the important things to
remember to protect it.

8. Realign your brand to keep it current. Occasionally, you can (and should) change how your
brand is presented. From time to time, you need to update your brand presentation (the face of
your brand) to keep it relevant to the market in which it lives. Perhaps the most obvious reason to
refresh a brand is that it’s image has simply outgrown its effectiveness. An update to visual
elements is necessary to build upon the brand structure that is already known and loved.

Personal Branding Worksheet and Instruction Guide

By: Brooke Webb Smith
Adapted: Wilbert C. Venzon, LPT, MBA.

Instructions for Completing the Personal Branding Worksheet Part A:

Inspiration

1. Who are the people you admire most in your industry?

Who are the market leaders? Do you have any role models? Who are the most successful people?
The Industry Influencers? (Note: You can also include people in other industries who you admire
and who may also serve as role models.)

2. What are the characteristics of their personal brand?

For example, do they have a background story that everyone knows such as a turning point in their
life? A signature phrase which everyone associates with that person (like Nike’s, Just Do It)? Or
Emeril Lagasse, “BAM!” Even if you don’t care for his cooking or watch his show, chances are
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you

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have heard that phrase and if you say it most people will hear him saying in their head. What about
Industry Influencers? Do you have a few that you keep up with? They could have a nickname that
describes their brand, such as The Jerk (obviously not someone known for their compassion). They
may even have a style that distinguishes them, such as always wearing a baseball hat and sandals.

List the things that distinguish the people you listed in Step 1.

3. Where are these people seen most often?

The places where you are seen most often are the places where you will have the greatest
opportunities to build your personal brand. Where are your market leaders hanging out and
promoting their brand? For example, do they do frequent seminars or speak at large conferences?
Do you often see them on Facebook, Twitter, YouTube, LinkedIn or Google+? Their blog may be
their biggest source of branding, or podcast and advertisements.

Conduct online searches to see where their name appears most often. Your goal is to determine
where the Industry Influencers spend the most marketing time. Locate the trend-setters. Follow the
movers- and-shakers. Emulate the strategies that may work well for your business. By all means,
do not try to replicate their brand.

Remember, your brand is about the essence of you – not anyone else.

4. What do you admire most about these people?

Make a list of some of the characteristics you would want to model or adapt to your own brand.
For example, they may have a very personal way of communicating with their market in which
they share their own pains and heartaches. Or they might have a very no-nonsense attitude and be
known most for their guerilla-style, aggressive marketing tactics.

5. What makes them unique?

How do they stand out from the rest of their industry and the world? Why are people so attracted to
them? For example, do they meet a specific need that no one else does quite as well? What
impression are they leaving on their audience? How are they making them feel? One of the things
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that intrigue me about comedians who use self-degrading humor; they are often the most popular.
Louis C.K. and Jim Gaffigan illustrated this beautifully. There is something about sharing their
pain of being lonely, tired, overweight or single that makes others not only burst out in laughter but
also resonate with their pain. How many comedians can you think of who had a rise to fame
because they talked about how broke they are or how they, “get no respect.”
~Rodney Dangerfield, yes, you remember!

Part B: Brainstorm Your Brand

1. Who are the people you want to appeal to?

What is the target market for your personal brand? Is it primarily your buyers? Or are you targeting
your ideal future employers? What are some of the characteristics of your market? For example,
how old are they, are they more conservative or liberal, what other brands appeal to them? Are they
Target or Walmart? Are they on team Android or iPhone? Do they prefer a bottle of beer, a bottle
of wine or a glass of champagne? Are they Jimmy Choo, Calvin Kline, Tory Burch or Kate Spade?
Talk to people in your target market and get a feel for what makes them tick. Hang out in forums
where they are and listen in. Study their likes as well as their dislikes.

2. How do other people see you now?

Ask some people who know you to describe the way they see you. What do they see as your
strengths and weaknesses? Ask them what stands out most about you. If possible, do an
anonymous questionnaire so you can get honest feedback on the way you’re seen now. Please note:
prepare yourself for the unexpected feedback you may receive. It is a good starting point to close
the gap in between, how you think you are and how others perceive you. It is not uncommon for
our words, actions, behavior and habits not to be in accord with our intentions. This may prove to
give you some valuable insight. Consider a learning experience and an opportunity for self-
reflection.

3. What do you want to be known as? (e.g., the person who does X)

What are the key traits you want people to associate with you? For example, do you want to be
known as the ‘one-step marketing solutions’ expert? Or perhaps your reputation is for ’10-minute

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sales guru or ‘compassion-based coaching’. Brainstorm different possibilities based on the people

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you want to appeal to as well as your own strengths. Your natural skills, talent and extraordinary
gifts are your first clue.
Another way to think about it, imagine, two people are talking and one says, “I am in desperate
need of (insert your thing here!)” And the other says, Oh I know! You absolutely must call, (insert
your name here) because she is the go-to person for ! Fill in the blank. What are you the go-to
person for? You are the leader in this arena. When you are doing this thing, you get in a zone. You
are on FIRE and no one can touch you with a ten-foot pole! It’s inspires you. It motivates you. It
excites you. You would do it for free if money were not a factor. You absolutely love it and want
to share it with the world. Sit still for a bit.

Sit in silence and allow your gifts and talents come to you. As you reflect, answer the above
questions. Soon you will be confident that you for sure can be a leader in or doing
.

4. What’s your story?

Why do you do what you do? Write down some of the details of your background that have
impacted your life. Is there a good story, which you can use as part of your brand? Of course, it is.
We all have one. Whether it’s an integral part of your brand or not, people will always want to
know your story, they want to identify with you. Think about the journey to your current space.
Your obstacles, your challenges, your persistence, your determination, your fear, your faith…each
of these elements is what a good story makes. Share openly how you arrived at your current state.
Not only will you inspire others; but also some or all parts of your story will undoubtedly resonate
with your ideal buyer. When this happens, you have created brand loyalty.

5. What’s your style? (e.g., casual, professional, grunge, etc.)

Write down the specifics of your current style. For example, do you tend to be more casual or
professional? Are you more of a 60’s throwback or a futuristic trend-setter?
Are you predominately Forever 21 or Banana Republic?

At the same time, note which of these style elements would most appeal to your target market.
Your style may not be a direct reflection of your target market. For example, I

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tend to be very closely identified with the style of Tory Burch, Land’s End, Soma, Kate Spade,
Burberry, Chanel and Nordstrom. Yet, many of my peers and members of my tribe are very like
me preferring a chic, sophisticated image; they do tend to lean more toward the trendy side.

They prefer to be fashionable in the styling of Gucci, Michael Kors, Juicy Couture, Prada, True
Religion and BCBG. Although I wear items from each of those brands, I tend to be less about
staying up-to-date with the latest but rather have timeless classic pieces. I give this illustration to
make the point, my communication, marketing and public relations each must speak to the
importance of beauty and image in their lives. I must make a note of this in my language, graphics
and presentations. If I ignore that critical part of their identity, they will no doubt tune me out and
ignore me. I am in business to serve them, not meet my own needs. I must get my needs met with
another service provider who has me in their target market. Think about your preference and that of
your target market, Capitalize on the similar.

6. The skills you want people to know you have (natural, valuable talents)

Make a list of the skills your think are most important to the target market for your personal brand.
These should include the natural talents that would provide the biggest impact and value for your
market, such as a keen problem-solving ability. If you work in branding and marketing, you are
probably both creative and have a thing for studying human behavior. A systems engineer probably
doesn’t rely on creativity so much to persuade their prospects.

7. Signature phrase or value proposition (just a few words):

Do you have a signature phrase, value proposition or personal tag line? This would just be a few
words. For example, the phrase “Elementary, my dear Watson” was Sherlock Holmes’ signature
catchphrase. One of Steve Jobs’ famous lines was, “Design is not just what it looks like and feels
like. Design is how it works.” You may not become as famous as Steve Jobs, but you should have
a short phrase that describes you and the essence of your service.

8. What’s unique about you?

Finally, brainstorm all the different ways that you are unique from others in your market. What
makes you stand out? If you’re not sure, go back to what other people have said about you. You
can also think about ways that you would like to be unique, even if you aren’t right now.
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Part C: Define Your Brand

1. Your story
What is your background story?

What are some of the key events in your life that have made you who you are today? What are
some of your key accomplishments or turning points in your life that you want to share with
others?

2. Personal Values
What are your most important personal values?

Some sample values could be around seeing the best in all people, laughing about something every
day, learning something new every day, striving for excellence, helping others be their best etc.
List your top 5.

3. Personal brand statement (state who you are in 1 sentence)

Write out your unique, personal brand statement in one sentence or phrase.

This should reflect the element that defines you as a person. For example, Helen of Troy was, “The
Face That Launched a Thousand Ships”.

4. Your USP - unique value proposition (how you uniquely provide value to your
market)

Now write out a short sentence or two that describes how you provide value to your market in a
unique way, different from others in your market. For example, Scott Tousignant’s value
proposition is, “I lead by example and encourage others to sculpt their body into a work of art
while living their life to their fullest potential.”

5. Mission (why you do what you do)

Your mission statement tells the world a little bit more about why you do what you do. It’s not your
story. Instead, it combines the elements of your personal values, brand, and value proposition all
into one statement that describes your personal mission for your life. This doesn’t have to be about
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your whole life. If you are developing a personal brand primarily around your business, then your
personal mission statement can be focused more on those aspects.

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 WORKSHEET: CREATING YOUR PERSONAL BRAND

PART A: INSPIRATION

1. PEOPLE YOU ADMIRE IN YOUR INDUSTRY:

2. WHAT ARE THE CHARACTERISTICS OF THEIR PERSONAL BRAND? (E.G.,

BACKGROUND STORY, SIGNATURE PHRASE, NICKNAME, STYLE, ETC.)

3. WHERE ARE THEY SEEN MOST OFTEN? (ONLINE SITES, OFFLINE, SEMINARS, ETC.)

4. WHAT DO YOU ADMIRE ABOUT THEM?

5. WHAT MAKES THEM UNIQUE?

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PART B. BRAINSTORM YOUR BRAND

WHO ARE THE PEOPLE YOU WANT TO APPEAL TO? (CHARACTERISTICS)

HOW DO OTHER PEOPLE SEE YOU NOW?

WHAT DO YOU WANT TO BE KNOWN AS? (E.G., THE PERSON WHO DOES X)

WHAT’S YOUR STORY? (E.G., WHY YOU DO WHAT YOU DO)

WHAT’S YOUR STYLE? (E.G., CASUAL, PROFESSIONAL, GRUNGE, ETC.)

THE SKILLS YOU WANT PEOPLE TO KNOW YOU HAVE (NATURAL, VALUABLE
TALENTS)

SIGNATURE PHRASE OR VALUE PROPOSITION (JUST A FEW WORDS):

WHAT’S UNIQUE ABOUT YOU?

DEFINE YOUR BRAND

YOUR STORY

PERSONAL VALUES
PERSONAL BRAND STATEMENT (STATE WHO YOU ARE IN 1 SENTENCE)
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YOUR UNIQUE VALUE PROPOSITION (HOW YOU UNIQUELY PROVIDE VALUE
TO YOUR MARKET)

MISSION (WHY YOU DO WHAT YOU DO)

1. Marketing mix refers to the process of value exchange that is

facilitated by the 4P's. It is the foundation model for business.

2. 4P's was develop by a marketing expert named E. Jerome

McCarthy

3. 4P's of Marketing mix refers to four broad levels of marketing decision

4. Product, Price, Place and Promotion are the 4-broad level of marketing mix decisions

5. 7P's model is a marketing model that modifies the 4P's model.

6. People, Process and Physical evidence are the 3 added marketing mix decision.

7. A brand is a name, term, design, symbol, or any other features that identifies one
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 seller's good or service as distinction from those of other sellers.

Learning Competency:
 Explore Job opportunities for Entrepreneurship as a career (No available Code)

Activity 1. TRUE or FALSE.

Read and analyze the competencies in Entrepreneurship below. Select TRUE if the statement is correct and write FALSE if
otherwise. Write your answer before the number.
1. Entrepreneurship can be learned by anyone, it’s not something that can simply learn in a classroom.
2. Certain skills, such as communication, delegating and respecting others can only be acquired through practice and
developing „habits of character‟.
3. Habits of character may not strictly be related to business but are to do with the kind of person the entrepreneur is and
what he/she does.
4. An entrepreneur has to have certain cultivated and inherent qualities in order to make a success of his or her venture.
5. Hard work and determination to win have made many successful business people to reach their aspired goals.
6. An Entrepreneur must hesitate for personal or other reasons.
7. Business involves many risks, which an entrepreneur must hesitate to take.
8. New ideas help make a business venture successful.
9. Certain attributes are essential for an Entrepreneur to establish his or her business on sound footing.
10. The only way to acquire the habits essential for entrepreneurs is by acting in a way inconsistent with them.

Activity 2:
Multiple Choice: Read and analyze each statement carefully then choose the letter of the best answer on a separate sheet of
paper.
1. Ronald is graduating SHS. After his graduation, he is planning to put up a computer shop. What core competency he
needs to develop?
a. Arts and design
b. Systems and application
c. Repairs and maintenance
d. Machine and equipment
2. Leticia is an employee of a fast-food chain. What common competency she needs to develop?
a. Time management
b. Managing Conflict
c. Leadership
d. Critical thinking
3. Bon Gonzalez is the owner of the Bon Welding Shop. What common competency he needs to develop?
a. Change management
b. Human Relations
c. Time management
d. A B & C
4. If Promotions and Advertising are core competency in Entrepreneurship is a common competency in Entrepreneurship.
a. Managing sales
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 b. Listening to the sentiments of workers
c. Coordinating with partners
d. Conducting research

5. If good human relation is to Interpersonal Competency; Visioning is to

a. Personal competency
b. Core Competency
c. Common Competency
d. Business Competency

For number 6 to 15, Read and analyze the competencies below that every entrepreneur should develop and identify whether
this refers to Personal Competency, Interpersonal Competency, or Business Competency.
6. Emotional balance
a. Personal competency
b. Interpersonal Competency
c. Business Competency
7. Negotiation skills
a. Personal competency
b. Interpersonal Competency
c. Business Competency

8. Leadership skills
a. Personal competency
b. Interpersonal Competency
c. Business Competency

9. Persistence
a. Personal competency
b. Interpersonal Competency
c. Business Competency

10. Charisma
a. Personal competency
b. Interpersonal Competency
c. Business Competency

11. Resource Management skill

a. Personal competency
b. Interpersonal Competency
c. Business Competency

12. Resiliency
a. Personal competency
b. Interpersonal Competency
c. Business Competency
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 13. Human Relation
a. Personal competency
b. Interpersonal Competency
c. Business Competency

14. Respect
a. Personal competency
b. Interpersonal Competency
c. Business Competency

15. Tenacity
a. Personal competency
b. Interpersonal Competency
c. Business Competency

References:
a. Entrepreneurship, Divina, Edralin M.,Revised Ed. Quezon City: Vibal Group, Inc., 2019

b. Doyle, A. (2020). The Best Jobs for Aspiring Entrepreneurs. Retrieved from: https://www.thebalancecareers.com/best-
jobs-for-aspiring-entrepreneurs4160409
c. Personal Entrepreneurial Competencies (PECS). Retrieved from: https://www.mustangbols.com/animation-2d/pecs
d. Careers in Entrepreneurship. Retrieved from: http://www.excite.com/education/business/ entrepreneurship/careers
e. . Reasons People Become Entrepreneurs. Retrieved from: https://www.scu.edu/illuminate/thought-leaders/drew-
starbird/7-reasonspeople-become-entrepreneurs.html
f. Careers in Entrepreneurship. Retrieved from: http://www.excite.com/education/business/ entrepreneurship/careers
g. The 3 core competencies entrepreneurs must master to succeed. Retrieved from:
https://www.bizjournals.com/bizjournals/how-to/growthstrategies/2017/04/the-3-core-competencies-entrepreneurs-must-
master.html
h. Competency Descriptors. Retrieved from: https://www.ifpm.nifc.gov/standard/standard/Common_ Competencies.pdf
i. Emotional Intelligence and Personal Competence. Retrieved from: www.
freemanagement-ebooks.com/faqpp/understanding-07.html
j. Three competencies every entrepreneur should develop. Retrieved from: https://www.ideasforleaders.com/ideas/three-
competencies-everyentrepreneur-should-develop
k. ABM-ENTERPRENUERSHIP 12_Q1_W2_Mod2.pdf, DIVISION OF CITY SCHOOLS – MANILA Manila Education
Center Arroceros Forest Park, Antonio J. Villegas St. Ermita, Manila

Answer Key:
Activity 1. True or False
1. True
2. False
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 3. True
4. True
5. True
6. False
7. False
8. True
9. True
10. False

Activity 2. Multiple Choice

1. B
2. A
3. D
4. B
5. D
6. A
7. C
8. C
9. A
10. B
11. C
12. A
13. B
14. B
15. A

Prepared by:

Charmaine Joemaica J. Sapigao

Teacher I

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