Module 1

Module 1.
MARKETING AND ENTREPRENUERSHIP

OVERVIEW
Marketing plays a crucial role in entrepreneurship and introducing of

brands but often misunderstood. One of the most common misconception
of marketing is it is the sales of the company; however, selling is just one of
the most important function of marketing. Sometimes, marketing also
associated with the advertisement of brands.
Marketing does not just focus on the brand promotion or introduction

of products to the market but also consider the company and the market.
Secures the consistency of the company which helps the entrepreneurs to
increase their sales. Then, make sure that the market is satisfied with the
promoted brands.
LEARNING OUTCOMES
At the end of this module students should be able to:

 Define the Marketing and its 3Cs
 Distinguish the needs and wants
 Determine the three (3) levels of Marketing
 Classify the Market Segmentation
 Define and determine the marketing mix
 Define and determine the Guerilla Marketing Strategies
 Define and determine the Managerial skills for Growth
Entrepreneurial Marketing Strategies Course 1

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Module 1. MARKETING AND ENTREPRENUERSHIP
MARKETING
Marketing is the process of getting potential clients or customers
interested in your products
and services. The keyword
Marketing is very broad and
in this definition is
encompasses all the strategies
"process." Marketing
that help a company, brand, or
invol`ves researching, individual achieve its objectives.
promoting, selling, and
distributing your products
or services.
This discipline centers on the study of market and consumer
behaviors and it
analyzes the
Marketing is the process of commercial
continuously and profitability management of
satisfying the target customers’ companies in order
need, wants and expectations
to attract, acquire,
superior to competition.
and retain
customers by
satisfying their wants and needs and instilling brand loyalty.
do not know exactly what marketing is and, when asked, they define it as
selling or advertising. While these answers are not wrong, they are only a
part of marketing. There are many other aspects to marketing like product
distribution, promotion, designing and creating materials like landing
pages and social media content, improving customer experience, doing
market research, establishing market segments, and much more.

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3Cs of Marketing
Profit comes from having an

excess of sales over cost and
expenses in earning market shares.
CUSTOMER
COMPANY
COMPETITION
COMPANY- To ensure corporate health and profit. Marketing do not only

produce products to marketing to satisfy the needs and wants of its
customers and consumers but also to ensure the security of its company.
This helps the management to boost the profit and to maintain its lifespan.
Marketing also focuses on providing the needs, wants, and compensation

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of its employees to run

the business effectively.
CUSTOMER-
To satisfy the Sales result from satisfying
needs, wants, customer’s needs and wants.
and NEEDS ARE BASIC REASON OR
expectations of THE MINIMUM REQUIREMENTS
target customer. CONSUMERS LOOK FOR IN A
Customer is either the PRODUCT OR SERVICES.
intermediaries or the
end users needed to
satisfy by the business.
The main reason of establishing one business is to satisfy the customers’
needs. Marketing is responsible in building a strong bond and relationship
between the company and customer to ensure their satisfaction
towards the products or services.
COMPETITORS- To outperform the competition. Competitors

are those with products or services that can offer the same benefits to your
customer. Marketing were not just be able to identify the strength and
weakness of the
company but also
observe the strength
and weaknesses of Market Share an effect of
the competitors. outperforming competition.
Such information
can be use to
overpower the
competitive market to attract more customers and increase the sales.
Marketer should always consider the strength and weaknesses of his

company in serving the needs and wants of his market. He must therefore
choose the market segments where he can have potential leadership or at
least have a strong and profitable challenger role. Marketers should
balance between the company’s requirements and for profit and his desired
market share.
NEEDS
By the term needs, we mean those requirements which are extremely

necessary for a human being to live a healthy life. They are personal,
psychological, cultural, social, etc that are important for an organism to
survive.
In ancient times the three basic needs of the man are food, clothing and
shelter but with the passage of time, education and healthcare also
became integral, as they improve the quality of life. They are a person’s

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first priority as they are the things, that they keep us healthy and safe.
Therefore, if needs are not satisfied in time, it may result in illness, inability
in functioning properly or even death.
WANTS
In economics, wants are defined as something that a person would

like to possess, either immediately or at a later time. Simply put, wants are
the desires that cause
business activities to
produce such products
and services that are
Wants are determining the dimension
demanded by the among many choices.
economy. They are
optional, i.e. an
individual is going to
survive, even if not
satisfied. Further, wants Expectations are the values or
may vary from person to
intangibles associated with products or
person and time to time.
services.
We all know that human
wants are unlimited
while the means to satisfy those wants are limited. Hence, all the wants of
an individual cannot be met and they must seek for alternatives.
3 LEVELS OF MARKETING
Vision and Mission,

Industry and Competition
S tr a te g ic M a r k e tin g
Analysis, Key Factors for
M anagem ent Success, Strengths and
Weaknesses Analysis,
Opportunities and Threats
Analysis
M a r k e tin g
Market Segmentation,
S tra te g y
Target Market Positioning
Product, Placement
M a r k e tin g T a c tic s (Distribution), Promotions,
Pricing
STRATEGIC MARKETING MANAGEMENT

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S-pecific
M-easurable
A-ttainable
R-elevant
T-ime-bound
Strategic marketing management is the process of implementing your

business’ mission through specific and strategic processes in order to
maximize your current marketing plan.
1. Planning
Just as with product management, planning is everything when it comes to

strategic marketing. This requires a deep dive into not only your business
but your customers and competitors.
The first step is a SWOT analysis. Analyze your business's

strengths and weaknesses before looking at the opportunities
and threats coming from elsewhere. Here, you can also include a
competitive analysis, analyzing their strategies and markets.
Additionally, you can also include a PESTEL analysis, which looks at

political, economic, social, technological, environmental, and legal factors.
Armed with this research, it’s time to look at your marketing mix. This
involves product, price, place, and promotion. The product part you’ll have
nailed down already. But how should your product be priced? Where will it
be available to buy or download? What types of promotion will work best?
Finally, it’s time to set some goals. Make sure they’re SMART

goals so you know exactly what you want to achieve and by when.
However, allow some leeway if you are a start-up business.
2. Implementation
This is the action to all of that planning and analysis.
Budgeting for stock and resources, setting up distribution models and

marketing channels, developing content plans and cash flow
accounting are all introduced in this phase. It’s about making actionable
steps towards achieving your commercial goals.
It’s important to note here that, while planning is essential, your process
won’t be set in stone. Strategic marketing plans are designed to be
adaptable so if the market changes (hello, Covid!) or you have trouble
sourcing suppliers, it’s okay to rethink.

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3. Evaluation
Many teams leave an evaluation for when a project is completed. However,

within the strategic marketing management process, it’s important to
evaluate each stage as it ends, so no insights get forgotten. By using
analytical data, you can track any KPIs set as well as the progress of your
goals. Track any changes made on the fly and use this information to see
what would work better next time. You can use a wide range of data to
evaluate too, from website traffic to customer feedback.
Vision- explains the company’s future and what it intends to be.

Mission- Answers the question “What is our business?”. Dictates what type
of product or services they will offer. But instead of stating the products
itself, it states the benefits gain from a product or services.
Key Factors for Success- it measured the company’s strength and
weaknesses
MARKETING STRATEGY
A marketing strategy refers to a business’s overall game plan for
reaching prospective consumers and turning them into customers of their
products or services. A marketing strategy contains the company’s value
proposition, key brand messaging, data on target customer demographics,
and other high-level elements. Marketing Strategy involves two interrelated
components namely Target Market Positioning and Market Segmentation.
Target Market- A target market is a specific group of people with shared

characteristics that a business markets its products or services to.
Companies use target markets to thoroughly understand their potential
customers and craft marketing strategies that help them meet their business
and marketing objectives.
Market Segmentation- Market segmentation enables a company to
develop a positioning a marketing mix strategy that can satisfy a smaller, or
focused range of customer’s needs and wants given the identified
opportunity.
MARKETING TACTICS
Marketing tactics are a series or set of strategic methods or actions
aimed at promoting a business’ goods or services. The aim is to maximize
sales and maintain a competitive good or service.
MARKET SEGMENTATION
1. Socio-Demographic Segmentation- It deals with the questions such
as “who you are?” and “how much do you earn?”. The simplest way
to adopt demographic segmentation is by using factors
like age gender income, but there are many non-character traits that

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you can focus on. Income and family structure are particularly

useful factors for retailers, allowing them to single out certain groups
that might be interested in purchasing a specific product or service.
However, business-to-business (B2B) marketers, are much more
likely to rely on occupational segmentation to ensure they are
pitching their products to the people who actually make purchases for
their company, and not an intern who has no purchasing power.
2. Psychographic Segmentation- d
3. eals with questions such as “what you do?” and “how you spend your
money?”. Psychographic segmentation means selecting the most
likely buyers based on their interests, activities and lifestyle choices.
4. Behavioral Segmentation- Behavioral segmentation refers to a
process in marketing which divides customers into segments
depending on their behavior patterns when interacting with a
particular business or website.
5. Geographic Segmentation- Geographic segmentation involves
segmenting your audience based on the region they live or work in.
This can be done in any number of ways: grouping customers by the
country they live in, or smaller geographical divisions, from region to
city, and right down to postal code.
V
Consumer
S
A consumer is always the
end user of a product
or service, but might not
CustomerA customer always
purchases a product or
have purchased it. A service, but might not be
consumer is always the the end user. Customers
end user of a product or can give consumers a
service, but might not
have purchased it product as a gift, resell
it in original form or as
something new

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MARKETING MIX
It is essential of a company to promote the business and branding to
the market. Marketing mix is the set of controllable and tactical marketing
tools the company uses in response to the desired to target market.
7P’s of Marketing Mix
1. Product- to satisfy the needs and wants of the target market.
Tools: variety, quality, design, features,

brand name, packaging, services.
2. Placement (Distribution)- to make the product conveniently

available to the target market consistent with their purchasing
patterns.
Tools: channels, coverage, assortments,

locations, inventory, transportation, logistics
3. Promotions- to build and improve consumer demand.
Tools: advertising, personal selling,

sales promotion, public relations.
4. Price- to make the product affordable to the target market and

reflect the value of benefits provided.
Tools: list price, discounts, allowance,

payment period, credit terms.
5. Physical Environment- refers to the place where service is

performed, including all touch points leading to the place (Parking,
fire exits, even neighbor’s frontage or intangibles like ambiance and
status)

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6. Process- refers to procedures, flow activities, and other mechanisms

that deliver the intended experience.
7. People- refers to all members of the team who contribute to the
delivery of the service and its brand promise whether in the front line
or in the back office, on-site or off-site, also includes other fellow
customers if onsite.
GUERILLA MARKETING
Guerrilla marketing is a marketing tactic in which a company uses
surprise and/or unconventional interactions in order to promote a product
or service. Guerrilla marketing is different than traditional marketing in that
it often relies on personal interaction, has a smaller budget, and focuses
on smaller groups of promoters that are responsible for getting the word
out in a particular location rather than through widespread media
campaigns.
Guerrilla marketing pros Guerrilla marketing cons
Risk failure: The brand is put on

Spend less: Guerrilla
public display, which can backfire
marketing can be effective
if it a poorly executed campaign
even on a low budget.
flops.
Risk loss: You could lose money
Have fun: You get to be
or profits if unforeseen
creative and generate unusual
circumstances arise, such as a
ideas to build a brand.
bad weather or political tensions.
Embarrass or frighten an
Gain insights: Based on
audience: Some forms of guerrilla
people's reactions, you can
marketing employ ambushing,
better understand how they
filming, or scare tactics that might
feel about the brand.
embarrass or frighten people.
Go viral: Your campaign could
get shared on social media Risk controversy: You might run
(either by the brand or by into legal issues or negative
participants) for maximum publicity, depending on the
exposure. Media outlets may outcome of the campaign.
also generate attention.
Build partnerships: You may Lose stakeholder approval: If a
be able to develop a mutually campaign is too risky or
beneficial partnership with a unconventional, it may not get
venue, organization, park, approved by executives who
festival, or another brand. would rather spend marketing

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Guerrilla marketing pros Guerrilla marketing cons

dollars on more reliable strategies.
TYPES OF GUERILLA MARKETING
Outdoor guerrilla marketing
Outdoor guerrilla marketing is the act of placing something unusual in

an outdoor environment. This tends to be done in urban areas with plenty of
foot traffic. Examples of outdoor guerrilla marketing include adding
something to a statue, placing an oversized replica of a typically small object
(like a cupcake) in a park, or putting objects in the streets (like IKEA’s sofas
at bus stations in Australia).
Coca-cola Outside Advertisements

McDonalds Big Cup Display
Indoor guerrilla marketing
Indoor guerrilla marketing takes advantage of enclosed public spaces

to generate hype. This could include university campuses, train stations, or
museums. In 2009, T-Mobile sponsored a flash mob at Liverpool Street

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Station that has over 40 million views on YouTube, won TV commercial of

the year at the British Television Advertising Awards, and translated to a 52
percent increase in sales.

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Event ambush guerrilla marketing
Event ambush guerrilla marketing promotes a product or service at a

pre-existing event, such as a concert, sporting event, or festival, sometimes
without permission. This type of marketing catches event attendees by
surprise when something unusual occurs.
Fiji Girl
Event free Taste
Experiential guerrilla marketing
Experiential guerrilla marketing can take place anywhere (outdoors,

indoors, at an event) and enlists the public to interact with the brand. This
can range from a free sample of beer, a slide into a pit of branded pillows, or
subway stairs that look and sound like piano keys—Volkswagen’s campaign
and social experiment found that 66 percent more people than usual opted
to take the stairs when it was a fun experience.
Coca-cola Free Hug
Mentos Geyser Experiment
MARKETING SKILLS FOR MANAGING GROWTH

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Growth Marketers use a data-driven approach to adapt new growth

strategies and parameters that will scale a business more effectively. While
other areas of marketing expertise focus on driving traffic and increasing
leads, a growth marketer meets company goals with broader strategies that
affect production and flow through the entire marketing funnel. A growth
marketer’s required strengths surpass traditional marketing to include
experimentation and testing, more complex goal-setting, and data analysis.
As a growth marketer, you’ll dig past the top layers of the marketing funnel
to boost conversion and retention rates with creative new solutions,
elegantly scaling the company or product’s loyal customer base. Growth
marketers analyze data and get creative with it, pinpointing opportunities to
improve the marketing game plan and connect better with customers. After
testing and experimenting with each new idea, they reintegrate their
learnings to streamline the customer’s journey through the marketing funnel
to boost customer satisfaction and loyalty.
7 Growth marketing skills you need & why they matter
Growth marketers must be versatile to feed into the cycle of growth and
improvement, boasting a wide range of dependable skills that they can use
daily—and showcase on their growth marketing resume.
We can’t cover every skill you’ll need as a growth marketer, but we do want
to dive into the most important ones and discuss why they’re paramount.
While each growth marketer has some unique areas of expertise that give
them a personal touch, the following crucial skills make up the toolbox that
every growth marketer needs to draw in and retain their target audience.
1. Data analytics

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Data analytics involves collecting customer and product data from various
sources, identifying patterns and trends, and taking action to improve the
digital customer experience based on those insights. In other words, you
must be able to understand data and then base smart decisions on it. This
skill is crucial in helping growth marketers avoid wasting time and money
on marketing strategies that simply don’t deliver.
Using analytics to assess retention, engagement, activations, and more will

help you pinpoint exactly which parts of your current journey go over well
with customers—and which ones don’t. This process will propel your entire
strategy creation process as a growth marketer, helping you learn how
customers feel about the digital experience so that you can guide things in
a more favorable direction. Amplitude’s suite of products gives growth
marketers invaluable insight concerning customer engagement patterns
and key metrics that affect customers’ journeys through the marketing
funnel. With Amplitude, you can identify your highest-value customers and
learn what keeps them retained long-term. You can then use these insights
to craft personalized campaigns and experiences that drive
desired behaviors for certain cohorts.
With quality data reports, you can call upon your analytical thinking to
develop growth marketing strategies. You can also use these analyses to
make sure your interventions work. Using helpful experimentation tools to
gather more data on your approach can greatly increase the chance of
success for future, iterative efforts.
2. Optimization

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After the original creation and development of any new marketing strategy
comes the more detailed improvement stage where your optimization skills
come into play. Growth marketers must be able to handle search engine
optimization (SEO), conversion rate optimization (CRO), and marketing
campaign optimization. These key facets of growth marketing carry
customer engagement past the point of acquisition, creating a much deeper
connection.
Optimization skills are crucial: An incredible growth marketer should be

able to streamline each marketing growth loop to produce increasingly
efficient results. SEO skills will increase customer awareness and
acquisition, boosting your conversion rates before you even optimize them.
Your marketing campaign optimization will also contribute to better
customer engagement. And, of course, your CRO abilities will increase the
likelihood of those customers sticking around.
When your optimization skills as a growth marketer are top-tier, you’ll be

able to take pride in a marketing map that guides customers to greater
satisfaction and better lifetime value. You’ll know you’ve nailed it when
you can watch customer traffic picking up momentum with better
engagement patterns and more promising metrics. Excellent optimization
skills will also produce better data to close the growth loop for another
round of scalable improvements.
3. People skills
Growth marketers finesse all kinds of details behind the scenes, but they
also need strong people skills to truly succeed in their role. After all, a huge
part of growth marketing is understanding the needs and wants of the
customer. The ability to communicate and understand other people is key:
How could anyone develop an effective marketing plan for a target
audience they don’t really know?

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Some people feel that data analysis can bridge the gap here, and tools
that help you understand customer behavior via statistics will certainly
enable you to gauge what your customer engagement currently looks like
and then adapt accordingly. However, the true scope of human connection
is far too nuanced for you to rely solely on data and neglect your soft skills.
As a growth marketer, you must be able to put yourself in the user’s shoes
while you contemplate each strategy to market your company’s next big
service or product. What does the customer want? How can you fulfill
customers’ needs while still sparking their interest so that they’ll keep
coming back for more? Perpetually developing your ability to connect with
people will help you improve customer acquisition and retention.
4. Marketing
As a growth marketer, you’ll naturally need a general and well-rounded

understanding of marketing since that’s at the heart of your role.
Remember: At its core, marketing focuses on getting more people to notice
and remember your company. Grabbing people’s attention usually involves
tasks like creating and implementing effective social media and advertising
campaigns.
Marketing abilities are crucial since they tackle the top layers of the
marketing funnel: awareness and acquisition. Growth marketers may delve
far beneath the surface, but you still need a strong ability to manage those
foundational points for company growth. It’s also important to specialize in
a couple of areas since this will lend a human touch to your work and make
it more unique. Maybe you’re especially good at relating to people through
social media or handling customers’ concerns. Lean into your strengths,
and people will remember your brand.

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A growth marketer must be able to coordinate powerful marketing

campaigns with both the big picture and unique personalization tactics in
mind, too. For example: Using customer behavioral data to tailor your
marketing to the individual and sending personalized messages
via Braze can boost engagement and retention rates. Customers who
receive more relevant content are more likely to stay.
5. Basic design
Let’s not forget what a key part design plays in marketing—and especially
in the growth marketer’s role. For optimal company growth, your marketing
campaigns and webpages must look appealing and be highly accessible to
your scalable customer base.
As a GM, you’ll benefit greatly from a basic understanding of web graphics

and design, alongside the fundamental HTML/CSS skills required to update
a website. Accessibility features such as text size, contrast, and loading
speed are also crucial.
This means you also must be comfortable with basic user interface (UI) and
user experience (UX) design. You’ll also need to test things quickly to make
sure that any changes you make have had the desired effect. The more
efficient you are throughout the testing process, the faster the company’s
product will be able to grow.
A growth marketer also needs to participate in the decision-making process

surrounding UI/UX and base their decisions on an adept analysis of the
user’s pain points—and how to solve them for a better overall experience.
If a customer encounters difficulty while using a website, program, or other
product, then satisfaction and retention rates will likely drop.

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6. Experimentation
Truly great growth marketers don’t just follow the crowd—you’ll never stand
out that way. Instead, growth marketers who truly excel in their roles are
creative disruptors who confront the status quo with challenging ideas and
innovative solutions: And, experimentation is the key to making this work.
Whenever you trailblaze and invent fresh strategies to ease pain points,
you’ll have to go through an experimentation stage to make sure they work.
Trial and error are essential parts of the process, and you may need to
conduct A/B testing or use behavioral analytics to gauge the success of
your new methods.
For example, Housecall Pro used Amplitude Experiment to laser in on

opportunities for improvement within their web optimization strategies,
resulting in more effective web content. A product manager at Jumbo
Interactive also used the entire product suite, including Amplitude
Experiment, to scale their company’s product and user platform.
Experimentation is key in a growth marketer’s creative process since you

need to acquire data-based knowledge of how to allocate your resources:
 Which parts of your strategy are most effective?
 Which ones require a complete overhaul that may break the status
quo?
The only way to find out is to try fearlessly.
7. Analytical thinking

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Since data and strategies are such core parts of a growth marketer’s role,
analytical thinking is crucial for success. You’ll need a strong ability to
prioritize projects to meet company goals efficiently, and you’ll have to be
organized in your approach.
Growth marketing is no place for garbled information or unclear directions:

A stellar growth marketer must find the most important patterns in vast
datasets and then translate them into concise, actionable insights.
Alongside your analytical thinking, you’ll also need to communicate clear
insights to others to ensure each objective’s success.
Growth marketers need a strong ability to analyze new ideas and either
validate them quickly or provide efficient and constructive feedback for
improvement. A background in skillfully organized data interpretation will
help you here as will the ability to prioritize which areas of the marketing
strategy need the most immediate attention.
A growth marketer must have the strategic skills required to analyze every
part of the marketing process: data collection, interpretation, organization,
and integration. Next, your data translation must provide clear action points
that you can prioritize and implement in a calculated manner.
8. Focus on results to prove ROI
The goal of marketing is to convert leads into sales to drive revenue. If a

marketer is unable to tie efforts to revenue growth, CEOs or other decision-
makers tend to cease their support. So it’s critical for you to know how to
demonstrate ROI.
According to John Miller VP at Marketo, Market Mix Modeling is one of the
best ways to measure ROI. Using data and statistical models like
regression, you can calculate how much sales volume depends on
marketing. This is extremely useful when you want to justify the marketing
budget or make an elevator pitch about a new strategy.

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9. Know your audience
Marketing success relies on understanding the customer and giving them

what they want and how they want it. If you can define the organization’s
target audience and understand consumer behavior, it makes it easier to
clearly articulate the marketing message.
Knowing how to listen to consumers through quantitative and qualitative
data, as well as real consumer stories, lets you create better buyer
personas. And with more complete buyer personas, you are able to mold a
better buyer’s journey all across the sales funnel.
10. Goal-oriented marketing
Not setting goals is one of the most common mistakes in digital marketing.

If you conduct marketing without a clear purpose, you can get completely
overwhelmed by it and get lost in the maze of your marketing channels.
Specific, measurable, attainable, relevant and timely, or SMART goals set
a direction for your marketing efforts and channel your activity into
achieving real results. This makes it easier to know what to do, how to do it,
measure it, and be more effective when doing it.
11. Create memorable customer experiences
The intelligent contemporary consumer is aware of the market, so it’s more

important than ever to create an experience that resonates with them. If
you can point out the benefits of a product or service, and do it in a way
that’s aligned with what customers want, you will have produced an
irresistible and memorable experience at the same time.
For example, a digital agency in Sydney does this for more and more
businesses by creating online stores and linking them to their website.
Because people buy from e-commerce sites already, improving their
client’s online customer experience to make it quicker increases sales. It
also cuts out middlemen like Amazon or AliExpress, which makes it more
cost-effective.
12. Use storytelling
An important part of creating a memorable experience isn’t just focusing on

what customers want and giving it to them. It’s also about using a good
story. That’s why successful marketers are usually very good storytellers.

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Compelling and inspirational stories tap into the emotions of consumers.

They identify with them and become more pliable to the main marketing
message: “buy our stuff”.
Marketers who promote offers using testimonials or tell stories via their
marketing campaigns make their brand more attractive and attention-
grabbing. Another key aspect of marketing.
13. Base decisions on solid data
A marketer also needs to be decisive, but you need to base those

decisions on fact. With a wealth of usable data, that’s easier than before.
So to be successful, you need to use that data to evaluate each effort and
check its performance to make it work.
Using analytics tools to track performance is critical in digital marketing.
Google Analytics and other software give you the numbers and allow you
to perform A/B tests on virtually any aspect of your campaign, from copy to
the color of your CTA. Testing everything and assuming nothing is a sign of
a results-oriented marketer.
14. Continue learning
The field of marketing is constantly evolving. Good marketers need to stay

on top of these changes if their business is to succeed in the highly
competitive modern market. And this relies heavily on continual learning
and self-education.
Following recent trends in the industry, investing in automation, learning
new software, acquiring new skills and testing out new channels allow you
to innovate to gain access to a higher market share. By increasing your
individual capacities, you maximize the collective knowledge in your
organization and become its most valuable asset.
LET US ASSESS
Multiple Choice. Chose the best answer.

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1. Statement 1. Marketing is the process of getting potential clients or

customers.
Statement 2. Marketing promotes brand but not important to the
business.
Statement 3. Marketing is considered as advertisement only.
a. Statement 1 is false
b. Both Statement 1 and 2 are correct
c. Both Statement 2 and 3 are incorrect.
2. Marketing helps the company increase the sales through product
promotions and overpowering the competition. What is the market
share?
a. An effect of outperforming competition
b. Consideration of competitors’ weakness and strength
c. An excess sale of company over cost and expenses.
3. Marketing considers many aspects such as product distribution,
promotion, designing and creating materials, researches, etc.
marketing also defines as?
a. The process of continuously and profitability unsatisfying the target
customers’ needs and wants.
b. Marketing just considering the future of the company and
disregard the welfare of their customer
c. Marketing encompasses all the strategies that help the company,
brand, or individual achieve its objectives.
4. Statement 1. Needs is a necessity that a human should provide
Statement 2. Wants is something that a person like to posses
Statement 3. Both needs and wants are not important to an
entrepreneur.
a. Both statement 1 and 2 are correct
b. Both statement 1 and 3 are correct
c. Both statement 2 and 3 are correct.
5. SWOT Analysis means;
a. Stress, Weakness, Opportunity, and Treats
b. Strength, Weakness, Opportunity, and Treats
c. Strength, Weakness, Opportunity, and Threats
6. The segmentation which likely to select based on the buyers interest,
activities, and lifestyle.
a. Psychographic Segmentation
b. Behavioral Segmentation
c. Geographic Segmentation
7. The segmentation which likely to select based on the buyers’
behavior patterns.
a. Psychographic Segmentation
b. Behavioral Segmentation
c. Socio-demographic Segmentation

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8. The marketing strategy which placing of something unusual in an

outdoor environment.
a. Outdoor Games
b. Outdoor Marketing
c. Outdoor Guerilla Marketing
9. The collection of customer and product data from various sources.
a. Data Collection
b. Data Analysis
c. Data Analytics
10. One of the marketing skills for the growth of company and
entrepreneur is continue learning, which means?
a. Continuous learning and self-education
b. Thinks Highly
c. Knows everything in the company and the process
REFERENCES
https://keydifferences.com/difference-between-needs-and-wants.html#Definition
https://www.cyberclick.net/marketing
https://airfocus.com/glossary/what-is-strategic-marketing-management/

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https://www.investopedia.com/terms/m/marketing-strategy.asp
https://www.coursera.org/articles/target-market
https://marketbusinessnews.com/financial-glossary/what-are-marketing-tactics-definition-
and-examples/
https://www.yieldify.com/blog/demographic-segmentation-ecommerce-marketing/
https://www.qualtrics.com/au/experience-management/brand/psychographic-
segmentation/
https://www.yieldify.com/blog/behavioral-segmentation-definition-examples/
https://www.yieldify.com/blog/geographic-segmentation-real-world-examples/
#:~:text=What%20is%20geographic%20segmentation%3F,right%20down%20to
%20postal%20code.
https://blog.hubspot.com/service/customers-vs-consumers#:~:text=A%20consumer
%20is%20always%20the,not%20be%20the%20end%20user.
https://learn.marsdd.com/article/the-marketing-mix-in-marketing-strategy-product-price-
place-and-promotion/
https://www.investopedia.com/terms/g/guerrilla-marketing.asp
https://www.coursera.org/articles/guerrilla-marketing
https://www.coursera.org/articles/guerrilla-marketing?isNewUser=true
https://amplitude.com/blog/growth-marketing-skills

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Module 1.

MARKETING AND ENTREPRENUERSHIP

Marketing plays a crucial role in entrepreneurship and introducing of

Marketing does not just focus on the brand promotion or introduction

At the end of this module students should be able to:

Entrepreneurial Marketing Strategies Course 1

Entrepreneurial Marketing Strategies Course 2

Profit comes from having an

COMPANY- To ensure corporate health and profit. Marketing do not only

Entrepreneurial Marketing Strategies Course 3

of its employees to run

COMPETITORS- To outperform the competition. Competitors

Marketer should always consider the strength and weaknesses of his

By the term needs, we mean those requirements which are extremely

Entrepreneurial Marketing Strategies Course 4

In economics, wants are defined as something that a person would

Vision and Mission,

STRATEGIC MARKETING MANAGEMENT

Entrepreneurial Marketing Strategies Course 5

Strategic marketing management is the process of implementing your

Just as with product management, planning is everything when it comes to

The first step is a SWOT analysis. Analyze your business's

Additionally, you can also include a PESTEL analysis, which looks at

Finally, it’s time to set some goals. Make sure they’re SMART

This is the action to all of that planning and analysis.

Budgeting for stock and resources, setting up distribution models and

Entrepreneurial Marketing Strategies Course 6

Many teams leave an evaluation for when a project is completed. However,

Vision- explains the company’s future and what it intends to be.

Target Market- A target market is a specific group of people with shared

Entrepreneurial Marketing Strategies Course 7

you can focus on. Income and family structure are particularly

Entrepreneurial Marketing Strategies Course 8

Tools: variety, quality, design, features,

2. Placement (Distribution)- to make the product conveniently

Tools: channels, coverage, assortments,

3. Promotions- to build and improve consumer demand.

Tools: advertising, personal selling,

4. Price- to make the product affordable to the target market and

Tools: list price, discounts, allowance,

5. Physical Environment- refers to the place where service is

Entrepreneurial Marketing Strategies Course 9

6. Process- refers to procedures, flow activities, and other mechanisms

Guerrilla marketing pros Guerrilla marketing cons

Risk failure: The brand is put on

Entrepreneurial Marketing Strategies Course 10

Guerrilla marketing pros Guerrilla marketing cons

TYPES OF GUERILLA MARKETING

Outdoor guerrilla marketing

Outdoor guerrilla marketing is the act of placing something unusual in

Coca-cola Outside Advertisements

Indoor guerrilla marketing

Indoor guerrilla marketing takes advantage of enclosed public spaces

Entrepreneurial Marketing Strategies Course 11

Station that has over 40 million views on YouTube, won TV commercial of

Entrepreneurial Marketing Strategies Course 12

Event ambush guerrilla marketing

Event ambush guerrilla marketing promotes a product or service at a

Experiential guerrilla marketing

Experiential guerrilla marketing can take place anywhere (outdoors,

Coca-cola Free Hug

Mentos Geyser Experiment

MARKETING SKILLS FOR MANAGING GROWTH

Entrepreneurial Marketing Strategies Course 13