Entrepreneurship Week 6

BASIC EDUCATION DEPARTMENT
ENTREPRENEURSHIP MODULE
SY 2022-2023 I FIRST QUARTER
Date:
I. LEARNING OUTCOMES
At the end of this module, you should be able to:

1. Discuss the Meaning of the Marketing Mix.
2. Identify and Discuss the Seven Pieces of Marketing Mix.
II. TOPICS
A. Marketing Mix
B. Seven Pieces of Marketing Mix
III. RESOURCES
 Textbook
 Powerpoint Presentation
IV. VALUES/CHARACTER INTEGRATION
“If you form a strategy without research, your brand will barely float, and at the speed, industries
move at today brands sink fast.”
- Ryan Holmes
“For from the heart come evil thoughts, murders, adulteries, sexual immoralities, thefts, false
testimonies, blasphemies.”
- Matthew 15:19
ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

V. INTRODUCTION
The marketing mix is a fundamental marketing idea. The marketing mix is the collection
of marketing instruments that a company uses to achieve its marketing objectives in a given
market. It helps clients grasp what your product or service has to offer. It also aids in the
development of a successful product offering. Assists in the development, planning, and
execution of effective marketing initiatives. Assists firms in using their capabilities while
avoiding unneeded expenditures. The marketing mix refers to the combination of components
used in a company's marketing strategy. A marketer can sway a customer's choice to buy their
product or service by skillfully combining various variables.
VI. BODY
 Marketing Mix - The marketing mix refers to the set of actions, or tactics, that a company
uses to promote its brand or product in the market.
 7 Ps of Marketing Mix:
I. Positioning - Refers to the process of establishing the image or identity of a
brand or product so that consumers perceive it in a certain way.
 Market Dimensions - concerned with the specific processes that
form the market value of the firm's brand and products as well as
those that impact the accessibility of these products to the consumer
a. Latitude – Lays out what is important to the different
customer segments from their differing points of view.
b. Longitude – Represents the product features and
attributes of competitors in the marketplace.
II. Product - The item that the business is offering to the market.
 Types of Products:
1. Breakthrough Product – Refers to the product that offers
completely new performance benefits.
2. Differentiated Product – Refer to the product where
performance benefits may be close to the existing product but
there are new additional benefits on special aspects of the
product.
3. Copycat Product - Product that has been designed, branded, or
packaged to look exactly like that of a well-established
competitor
4. Niche Product - Product targeting a specific section of a larger
industry and market.
III. Packaging - The physical attribute of the product or service. How will the
business show off the qualities of the product or service to the market?
IV. Place - Location of the business.

 Factors to be considered in Initial Location Screening:
1. Customer Number
2. Customer Density
3. Access Routes
4. Buying Habits of Customers
5. Locational Features
 Factors to be Considered in Finding a Location Related to Cost:
1. Cost of Buying or Renting, Renovation, and Operating
2. Customer Volume, Drop-in Rates, and Sales Conversion
Ratios
3. Revenues
4. Profits
 Factors to be Considered in Finding a Location Related to
Location Itself:
1. Image and Location Conditions
2. Exact fit to Target Customers
3. Clustering of Competitor Establishments
4. Future Area Development
5. Fiscal and Regulatory Requirements
 Relevant Location Drivers:
1. Physical Proximity to Target Market
2. Customer Traffic Flow
3. Industry Clustering
4. Convergence of Multiple Industries
5. Population Concentrations
6. Activity Hubs
7. Growth Potential
8. Business Climate
9. Cost of Doing Business and Producing Goods and Services
 Comprehensive Location Analysis - The process being done by an
entrepreneur where he compares different potential locations and
uses the different factors to determine the best location of the
business.
 Geography Determinants:
1. Concentration vs. Destination
2. Access vs. Abundance
3. Clustered vs. Dispersed
4. Developed vs. Underdeveloped
5. Physical vs. Virtual

6. Upscale vs. Downscale
 Atmosphere Determinants:
1. Formal vs. Informal
2. Exclusive vs. Public
3. Conservative vs. Adventurous
4. Aesthetics vs. Functionality
5. Minimalist vs. Maximalist
V. People - Refers to anyone directly or indirectly involved in the business side of
the enterprise.
VI. Promotion - Raising awareness of a brand, product, or service within a market;
telling a story to encourage consumer engagement.
VII. Price - The amount the market is willing to pay for the product or service.
 Pricing Strategies:
1. Price Penetration – Pricing strategy being done by setting the
price of the product or service lower than the market in order to
penetrate the market fully and overtake the competition.
2. Scarcity Pricing – Pricing strategy that applies to the very rare
or scarce product that would appealing to wealthier customers
thus price tends to be higher.
3. Cost Recovery – Charges a price that allows the organization to
merely recover its full costs.
4. Subsidy Pricing – The price for a product that is reduced
because the government has paid part of the cost of producing it.
5. Marginal Pricing - Setting the price of a product to equal the
extra cost of producing an extra unit of output.
VII. SUMMARY/CONCLUSION
Innovation is what propels economies forward. Forward-thinking individuals with the

ambition, abilities, and background to transform a company concept into reality are responsible
for most of that innovation. However, the significance of entrepreneurs extends beyond the
impact they make on their own businesses. They have an influence on their communities and, in
certain circumstances, the entire planet. Successful entrepreneurs realize their own as well as
others' aspirations. They may adjust their personality, abilities, and inventiveness to the demands
of customers and market prospects.

VIII. ASSESSMENT
Research Activity
Search for an already established business in the Philippines and identify the marketing mix of the
chosen business.
Recitation
IX. REFERENCES
A. Textbook
Entrepreneurship: Starting an Enterprise. Having an Innovative Mindset by Joey
Concepsipn and Ramon Lopez pages 117-126
Entrepreneurship by Eduardo A. Morato, Jr., DPA
Pages 67 - 86.
B. Video Presentation

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BASIC EDUCATION DEPARTMENT

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

IV. VALUES/CHARACTER INTEGRATION

ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

Innovation is what propels economies forward. Forward-thinking individuals with the

ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

ACAD-BED-FM-045 Rev 0 Date 15 Nov 2021

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