7 P’s of

MARKETING
AND
BRANDING ENTREPRENEURSHIP
Lesson 1: The Marketing
Mix (7P’s) in Relation
to the Business Opportunity
Objectives:1.
1. Describe the Concept of Marketing
Mix;
2. Identify the seven P’s in the
Marketing Mix;
3. Appreciate the importance of
Marketing Mix and Branding; and
4. Developed a Brand Name.
 Exercise 1: Find the 7 P’s
of Marketing Mix
DIRECTIONS: Think of words or terms related to the topic that
starts with letter “P” and find the words in the grid horizontally,
vertically, or diagonally. Write the Words or Terms on the space
provided and write something about the term using your own
words.
 P R O D U C T P O R E
Q U P L A C E E P I E
P O S I T I O N I N G
R O P E P R I C E O P
G O P R O M O T I O N
P A L P E O P L E A N
A P A C K A G I N G Z
F R D J I S B N M K A
1. ___________________________________
2. ___________________________________
3. ___________________________________
4. ___________________________________
5. ___________________________________
6. ___________________________________
7.____________________________________
Exercise 2: Product Showing
Guide Questions:
1. Does anyone of you are using this
item?
2. When you see this item what
comes to your mind?
3. What is the use of this item in
your everyday life?
4. What are the things you see in
them?
 The 7 P’s
of
Marketing Mix
1. Product - refers to any goods or
services that is produced to meet the
-
consumers’ wants, tastes and preferences.
Examples of goods include tires, MP3
players, clothing and etc. Goods can be
categorized into
1. Business goods
2. Consumer goods.
A buyer of consumer goods may not have
thorough knowledge of the goods he buys
and uses. Examples of services include
hair salons and accounting firms. Services
can be divided into consumer services, such
as hair styling or professional services,
such as engineering and accounting.
The 2 Types of
Products
2. Place - represents the location
where the buyer and seller exchange
goods or services. It is also called as
the distribution channel. It can
include any physical store as well as
virtual stores or online shops on the
Internet.
q Place matters for a business of any size. It is a
crucial part of the marketing mix.
q The main function of a distribution channel is to
provide a link between production and
consumption.
Stages of Distribution Channel
 Channel 1 Channel 2 Channel 3
● Contains 2 stages between ● Contains one intermediary. In
producer and consumer - a consumer markets, this is is called a "direct-
wholesaler and a retailer. A typically a retailer. A retailer is a marketing" channel, since it
wholesaler typically buys and company that buys products from has no intermediary levels.
stores large quantities of a manufacturer or wholesaler In this case the
several producers' goods and then and sells them to end users or manufacturer sells directly
breaks into bulk deliveries to customers. In a sense, a retailer to customers.
supply retailers with smaller is an intermediary or middleman
quantities. For small retailers with that customers use to get ● 3. PRICE
limited order quantities, the use of products from the
wholesalers make economic sense. manufacturers.
3. Price - the third P in the Marketing
Mix is Price, it is a serious component of
the marketing mix.
Price is the value of money in exchange
for a product or service. Generally
speaking, the price is the amount or
value that a customer gives up to enjoy
the benefits of having or using a product
or service. Thus, customers exchange a
certain value for having or using the
product – a value we call price.
 Pricing Definition
Strategies
Penetration The price charged for products and services is set artificially low in order to gain market share. Once this is achieved, the price is
Pricing increased.

SkimmingPricing A company charges a higher price then slowly lowers the price to make the product available to a wider market because it has a
considerable competitive advantage. However, the advantage tends not to be sustainable. The high price attracts new competitors
into the market, and
the price inevitably falls due to increased supply.
Competition A pricing method in which a seller uses prices of competing products as a benchmark instead of considering own costs or the
Pricing customer demand. In reality a firm has three options and these are to price lower, price the same
or price higher than competitors

The Different Product Line

Pricing
The practice of reviewing and setting prices for multiple products that a company offers in coordination with one another. Rather than
looking at each product separately and setting its price, product-line pricing strategies aim to maximize the sales of different products
by creating more complementary, rather than competitive, products. If you offer more than one product or service, consider the

Pricing impact that one product's or service's price will have on the others.

Strategies and The act of placing several products or services together in a single
Bundle Pricing
Its Definition package and selling for a lower price than would be charged if the items were sold separately.

Setting the price of a product higher than similar products. The goal is to create the perception that the products must have a higher
Premium
Pricing value than competing products because the prices are higher.

Psychological Psychological pricing is the practice of setting prices slightly lower than rounded numbers, in the belief that customers do not round
Pricing up these prices, and so will treat them as lower prices than they really are. This practice is based on the belief that customers tend to
process a price from the left-most digit to the right, and so will tend to ignore the last few digits of a price.

Cost Plus Cost plus pricing involves adding a markup to the cost of goods and services to arrive at a selling price. Under this approach, you add
Pricing together the direct material cost, direct labor cost, and overhead costs for a product, and add to it a markup percentage in order to
derive the price of the product.

Cost Based A pricing method in which a fixed sum or a percentage of the total cost is added (as income or profit) to the cost of the product to
Pricing arrive at its selling price.

Value Based A price-setting strategy where prices are set primarily on consumers' perceived value of the product or service.
Pricing
4. Promotion - is the fourth P in the
Marketing Mix. Promotion refers to the
complete set of activities, which
communicate the product, brand or
service to the user. The idea is to
create an awareness, attract and
induce the consumers to buy the
product, in preference over others. The
following are the most common
medium in promoting a product and this
is called promotional mix.
 PROMOTIONAL MIX
1. ADVERTISING
• Radio
• Television
• Print
• Electronic
• Generic
2. PUBLIC RELATIONS OR PR - involves
sharing information with the public using
platforms that do not require a payment,
such as social media or through press releases
shared with magazines and newspapers.
PR professionals package information and
disseminate it in the hopes that it will be
organically shared. The goal of public
relations is to shape public perception of a
business, presenting a positive image through
various strategies to its various constituents.
3. PERSONAL SELLING - occurs when an
individual salesperson sells a product, service
or solution to a client. Salespeople match the
benefits of their offering to the specific needs
of a client. Today, personal selling involves
the development of longstanding client
relationships.
Personal selling involves a selling process that
is summarized in the following Five Stage Personal
Selling Process. The five stages are:
• Prospecting
• Making first contact
• The sales call
• Objection handling
• Closing the sale
4. SALES PROMOTIONS – is any initiative
undertaken by an organization to promote
an increase in sales, usage or trial of a
product or service (i.e., initiatives
that are not covered by the other elements
of the marketing communications or
promotions mix).
Sales Promotion Technique
• Free Gifts
• Free Sample
• Free Trial
• Customer Contest
• Special Pricing
5. DIRECT MARKETING - is a promotional
method that involves presenting information
about your company, product, or service to
your target customer without the use of an
advertising middleman. It is a targeted form
of marketing that presents information of
potential interest to a consumer that has been
determined to be a likely buyer.
 Forms of Direct Marketing
• Brochure
• Catalogs
• Fliers
• Newsletters
• Post cards
• Coupons
• Email
• Phone calls
• Text messages
5. PEOPLE - The fifth P in the
Marketing mix is People. Your team,
the staff that makes it happen for
you, your audience, and your
advertisers are the people in marketing.
This consist of each person who is
involved in the product or service whether
directly or indirectly.
People are the ultimate marketing strategy.
They sell and push the product. People are one of
the most important elements of the marketing mix
today. This is because of the remarkable rise of the
services industry. Products are being sold through
retail channels today. If the retail channels are
not handled with the right people, the product will
not be sold.
Services must be first class nowadays. The people
rendering the service must be competent and
skilled enough so that that the clients will patronize
your service. The marketing efforts of people are to
create customer awareness, to arouse customer
interest, to educate customers, to close the sale and to
deliver the product.
Therefore, the right people are essential in
marketing mix in the current marketing.
6. Packaging - is a silent hero
in the marketing world. Packaging
refers to the outside appearance of a
product and how it is presented to
the customers. The best packaging
should be attractive enough and cost
efficient for the customers.
Packaging is highly functional. It is
for protection, containment,
information, utility of use and promotion.
 Five Basic Functions of Packaging
1. Protection - One of the major functions of packaging is to
provide for the effects of time and environment for the natural and
manufactured products. The protection function can be divided
into some classes.
a. Natural Deterioration - It is caused by the interaction of
products with water, gases and fumes, microbiologic organisms like
bacteria, yeasts and molds, heat, cold, dryness, contaminants and
insects and rodents.

b. Physical Protection - The packaging is also used for

physical protection, which include improving shock protection,
internal product protection and reducing shock damage caused from
vibration snagging, friction and impact.
c. Safety - A special kind of protective packaging is
required for products that are deemed harmful to those who
transport them or use them. These products include extremely
inflammable gas and liquid, radioactive elements, toxic materials
etc. The packaging should also be done so that children could not
easily use or dispose them.

d. Waste Reduction - Packaging also serves

to reduce the amount of waste especially in case of food
distribution.
2. Containment - This involves merging of unit loads for
shipping. It starts with spots of adhesives on the individual shippers
that stick them together, straps of steel and plastic, entire coverings
of shrinkable or stretchable plastic films and paper or corrugated
wraps that surround an entire pallet of product.
There are some special bulk boxes or pallet bins made from
unusually strong corrugated board or fabricated form plastics or
metal, the method of which depends on the type and weight of
product and its protective needs. The cargo containers made of
aluminum used to hold many pallet loads of goods can be
transferred to or from ships, trains and flatbed trucks by giant
cranes.
3) Information - The packaging conveys necessary
information to the consumers. The common information that
packaging provides include general features of the product,
ingredients, net weight of the contents, name and address of the
manufacturers, maximum retail price (MRP).
Packaging of medicine and some food products is required to
provide information on methods of preparations, recipes and
serving ideas, nutritional benefits, and date of manufacturing, date
of expiry, warning messages and cautionary information.
Sometimes, the color of the packaging itself provides some
information.
 4) Utility of Use - The convenience packaging has been
devised for foods, household chemicals, drugs, adhesives, paints,
cosmetics, paper goods and a host of other products. This type of
packaging includes dispensing devices, prepackaged hot metals,
and disposable medical packaging.

5.) Promotion - Companies use attractive colors, logos,

symbols and captions to promote the product that can influence
customer purchase decision.
 Packaging Decision
v Packaging v Engineering tests - This v Dealer tests -
concept - This will ensure that the This is to ensure
defines what the package stands up under that the dealers
package should be normal conditions find the packages
or do for the
attractive and
particular product
in terms of size, easy to handle
shape, materials,
color, text, and v Consumer tests -
brand mark and v Visual tests - This is to This is to ensure
tamperproof ensure that the script favorable
ability is legible and colors consumer
are harmonious response
7. Positioning - Finally, the
seventh P in the Marketing Mix
is Positioning When a company
presents a product or service in
a way that is different from
the competitors, they are
said to be “positioning” it.
Positioning refers to a process
used by marketers to create an
image in the minds of a target
3 Basic Concept for Positioning
1. Functional Positions - deal with solving a
problem, providing benefits and get a
a favorable perception from investors,
stockholders and consumers.
2. Symbolic Positions - deal with self-image
enhancement, ego identification, belongingn
social meaningfulness and affective fulfilme
3. Experiential Positions - deal with providing
sensory or cognitive stimulation.
 Step 1: Confirm Your Understanding of
Market Dynamics
At the start of the positioning process, you need a firm understanding of your
target market and answers to the following questions:

In which product, service, or market category (also called the

“frame of reference”) do you plan to use this positioning?
Which target segment is your focus for the positioning you are
developing?
What factors do these buyers evaluate when they make a
purchasing decision?
How do these buyers view your competitors in the category?
 Step 2: Identify Your Competitive
Advantages
A competitive advantage is some trait, quality, or capability that allows you to
outperform the competition. It gives your product, service, or brand an
advantage over others in purchasing decisions. Competitive advantage may
come from and or all of the following:

q Price: Something in your production process or supply chain

may make it possible for you to provide comparable value at a
lower cost than competitors.

q Features: You may provide tangible or intangible features that

your competitors do not: for example, more colors, better
taste, a more elegant design, quicker delivery, personalized
service, etc.
q Benefits: You may provide unique benefits to customers that
your competitors cannot match. Benefits are intangible
strengths or outcomes your customer gets when they use your
offering. For example, time savings, convenience, increased
control, enjoyment, relaxation, more choices, feeling better
about oneself, being more attractive, etc.
Step 3: Choose Competitive Advantages That Define
Your Niche
Your list of competitive advantages represents a set of possible positioning
strategies you could pursue for your product, service, or brand. The next step is to examine how
these factors fit into customer perceptions of your broader
competitive set. Your goal is to pick a positioning approach that gives you a unique and valued
position in the market that competitors are not addressing.

How to Create an Effective Market

Positioning Strategy?
1. Determine company uniqueness by comparing to competitors
2. Identify current market position
3. Competitor positioning analysis
4. Develop a positioning strategy
Lesson 2: Developing a
Brand Name
 As a future entrepreneur,
how do you describe the sales of your product
being displayed on the shelves of various malls
and groceries beside the product with
a brand name? Do you think the consumers will
notice or remember it? Branding will
ultimately reside(s) in the mind of every
consumers, thus, it plays a significant role in
every business.
 Brand Name is a name, symbol, Branding is a powerful and
or other feature that distinguishes a
sustainable high-level marketing
seller’s goods or services in the marketplace.
strategy used to create or
Your brand is one of your greatest assets
because your brand is your customers' over- influence a brand. Branding as a
all experience of your business. Brand strategy to distinguish products
strategy is a long-term design for the and companies and to build
development of a popular brand in order to economic value to both customer
achieve the goals and objectives. A well- customers and to brand owners,
defined brand strategy shakes all parts of a is described by Pickton and
business and is directly linked to customer
Broderick in 2001.
needs, wants, emotions, and competitive
surroundings.
 Commonly Used Branding
Strategies
1) Purpose - "Every brand makes a promise.
But in a market in which customer confidence
is little and budgetary observance is great, it’s
not just making a promise that separates one
brand from another, but having a significant
purpose," (Allen Adamson). How can you
define your business purpose?
 According to Business Strategy Insider,
purpose can be viewed in two ways:

a. Functional. This way focuses on the assessments of

success in terms of fast and profitable reasons. For
example, the purpose of the business is to make money.

b. Intentional. This way focuses on fulfillment as it relates

to the capability to generate money and do well in the
world.
2) Consistency - The significance of
consistency is to avoid things that don’t relate
to or improve your brand. Consistency aids to
brand recognition, which fuels customer
loyalty.
3) Emotion - There should be an emotional
voice, whispering "Buy me". This means you
allow the customers to have the chance to feel
that they are part of your brand. You should
find ways to connect more deeply and
emotionally with your customers. Make them
feel part of the family and use emotion to build
relationships and promote brand loyalty.
4) Flexibility - Marketers should remain flexible
too in this rapidly changing world. Consistency
targets at setting the standard for your brand,
flexibility allows you to adjust and differentiate
your approach from your competition.

5) Employee Involvement - It is equally

important for your employees to be well versed
in how they communicate with customers and
represent the brand of your product.
6) Loyalty - Loyalty is an important part of
brand strategy. At the end of the day, the
emphasis on a positive relationship between
you and your existing customers sets the tone
for what potential customers can expect from
doing business with you.
7) Competitive Awareness
Do not be frightened of competition. Take it as a
challenge to improve your branding strategy and
craft a better value in your brand.
Activity 1: “Draw to Survive”
Direction: Create a Concept Map
for the 7 P’s of Marketing Mix.
Activity 2: “My Imaginary Product”
Directions: Draw your product and
give it a name. Follow the task guide
bellow. Then, write a short
explanation by describing the product
and why you come up with its
name.
 Activity 3 – “Identification”
Direction: Write the correct answer on the space
provided
_______ 1. It is a set of controllable and interrelated variables composed of
product, place, price and promotions that a company assembles
to satisfy a target group better than its competitor.
________2. The amount of money that a customer pays for to enjoy a product
or service.
________3. It is any initiative undertaken by an organization to promote an
increase in sales, usage or trial of a product or service
________4. It occurs when an individual salesperson sells a product, service
or solution to a client.
________5. It can be intangible or tangible as it can be in the form of services
______6. The way your product or service appears
from the outside.
______7. A marketing model that modifies the 4Ps
model.
______8. It is responsible for every element of your
sales, marketing strategies, and activities.
______9. It refers to how a business creates
awareness in the market.
______10. It claims a new space in the mind of the
customer different from the spaces
occupied by existing products.
_________11. The ultimate marketing strategy.
_________12. This is where your product or service is actually sold.
_________13. The place occupied by products in the hearts and
minds of the consumers.
_________14. A name, symbol, or other feature that distinguishes a
seller's goods or services in the marketplace.
_________15. A powerful and sustainable high-level marketing
strategy used to create or influence a brand.
Thank you!