SHS- APPLIED

ENTREPRENEURSHIP
Third Quarter
Module 3
Marketing Mix (7ps)
 Republic of the Philippines
Department of Education
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 12

SHS- APPLIED
ENTREPRENEURSHIP

Third Quarter
Module 3

Marketing Mix (7Ps)

 INTRODUCTION
This module is written in support of the K to 12 Basic Education Program to
ensure attainment of standards expected of you as a learner.
This aims to equip you with essential knowledge on marketing mix.

• Expected Learning Outcome- This lays out the learning outcome that
you are expected to have accomplished at the end of the module.

• Pre-test- This determines your prior learning on the particular lesson

you are about to take.

• Discussion of the lesson- This provides you with the important

knowledge, principles and attitude that will help you meet the expected
learning outcome.

• Learning Activities- These provide you with the application of the

knowledge and principles you have gained from the lesson and enable you to
further enhance your skills as you carry out prescribed tasks.

• Post-test- This evaluates your overall understanding about the module.

With the different activities provided in this module, may you find this material
engaging and challenging as it develops your critical thinking skills.
 What I Need to Know
At the end of the lesson you, you will be able to:
 Recognize the importance of marketing mix in the development of
marketing strategy.
 Describe the Marketing Mix (7Ps) in relation to the business opportunity
vis-à-vis:
Product;
Place;
Price;
Promotion;
People;
Packaging; and
Positioning
 Develop a brand name
TLE_ICT12EM-Ia-1

SHS – APPLIED | ENTREPRENUERSHIP 1|Page

 What I Know
Directions: Matching Type: Read and understand each statement. Match Column A with
Column B. Write the letter of the correct answer in your activity notebook.

Column A Column B

1. It is an item that is built or produced to satisfy the needs of a a. promotion

certain group of people.
2. It is basically the amount that a customer pays for to enjoy it. b. price
3. It is the process and methods used to bring the product or
service to the consumer. c. people
4. It is an important component of marketing as it can boost brand
recognition and sales d. positioning
5. The company’s employees are important in marketing because
they are the ones who deliver the services. e. product
6. It shows off your product in the best light, displays the price and
value of the product, communicates the products benefits to f. packaging
consumers, and it what physically appears in your various
distribution points. g. brand name
7. It refers to the place that a brand occupies in the minds of the
customers and how it is distinguished from the products of the h. place
competitors and different from the concept of brand
awareness. i. differentiation
8. It distinguishes one product from another.
9. It is about putting the right product or a combination thereof in j. phonetics
the place, at the right time and at the right price
10. It distinguishes the brand as being different from competitive k. longevity
offerings.
11. Developing strategically sound name that functions as
systems, the name can be applied to a wide range of l. trademark
application over the life of the brand.
12. A brand name that is difficult to pronounce or comfortable to m. public relations
say is unlikely to be repeated and remembered.
13. It is an informal communication about the benefits of the n. advertisement
product by satisfied customers and ordinary individuals.
14. It covers communication methods that are paid for like o. word of mouth
television advertisement, radio commercials, print media and
internet. p. marketing mix
15. A brand name provides a propriety and legally protectable
methods for identifying your goods or services against of
competitors.
16. It is a kind of advertisement that are typically not paid, this
includes press releases, exhibitions and sponsorship deals.

SHS – APPLIED | ENTREPRENUERSHIP 2|Page

 What’s In
Direction: Answer the following question in your activity notebook.
1. What is market analysis?
2. Why you should conduct a market analysis?
Criteria 4 points 3 points 2 points 1 point
Explanation Complete Good Explanation Misses
response response is not clear points key
with with clear
detailed explanation
explna-tion
Demonstra- Shows Shows Response Response
ted complete substantial shows some shows lack
Knowledge under- under- under- of under-
standing of standing standing standing
the
question
Sensible Complete Has sensible Hardly Does not
Opinion response opinion makes have
with bright sensible sensible
opinion opinion opinions

What’s New

1. Do you have a favorite brand?

2. Why do you like that brand?

SHS – APPLIED | ENTREPRENUERSHIP 3|Page

 What Is It

Information Sheet 1
RECOGNIZE THE IMPORTANCE OF MARKETING MIX IN THE
DEVELOPMENT OF MARKETING STRATEGY

The following points explain the importance of marketing mix:

1) It helps in a clean mix creation

Your marketing mix should have all the P’s compatible with each other. The price
should be compatible with the placement of the product. The product should be
compatible with the promotions. In general, all the P’s are intrinsically linked to each
other.
As a result, when you are making a marketing mix, it becomes a chain of strong bonds.
And these bonds then guide you forward in making the chain longer. Whenever you are
considering adding a new feature or changing existing things, you have to look at the
overall picture, which helps in creating a clean marketing mix for the product.

2) Marketing mix helps in New product development

While designing an existing product, there are any number of ideas which can
come up for a related product that can be designed by the company. The pricing, place
and promotions might be different for such a product. Nonetheless, it can be classified
as a new product and hence while designing the marketing mix, the company can come
up with good ideas for NPD as well.

3) Marketing mix helps increase the product portfolio

Whenever you want to increase the product depth or product line and length, you
have to make minor changes to the product. In essence, you are making minor changes
in the marketing mix itself. You are making changes to the product features, to its
pricing and possible to its promotions. As a result, by altering the marketing mix and
certain features within it, you can end up with an enlarged product portfolio.

4) It is a guide to improve a business

Physical evidence was an important P in the service marketing mix. If a
restaurant or an interior design business realizes its important, then naturally they can

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 act on it and improve the physical evidence of their business thereby bringing in more
business.
The importance of marketing mix is evident in more than a single P. People and
process are important to the organization too and optimizing both can improve the
overall working of the organization. Hence, marketing mix is an excellent guide if
someone wants to improve their business and is doing gap analysis.

5) It helps in differentiation
When you analyze the marketing mix of Competitors, there are many different
ways that you can differentiate yourself from the competitor. The competitor might have
poor promotions and by analyzing them, you can create better promotions of your own
product.
The competitor might have poor placement of products or he might have the
wrong process or the wrong people in place. All this can be improved upon giving you a
better marketing mix and therefore a competitive advantage in the market.

6) Finally, it helps you in being dynamic

A company which is well prepared is also prepared when disaster strikes. During
recession or during a poor business environment, a company should be ready to
respond. At such times, the company needs to be dynamic in nature. Such a company
needs to understand its product, processes, people, promotions and all other P’s better.
If it understands them, it will respond with a better agility.
Thus, there are many ways that marketing mix may be important to an
organization. The best part is, analyzing and understanding the marketing mix is not a
lengthy procedure and the ROI on the time spent is much higher.

Information Sheet 2
Describe the Marketing Mix (7Ps) in relation to the business opportunity vis-à-vis:
 Product
 Place
 Price
 Promotion
 People
 Packaging
 Positioning
The Marketing Mix 7P’s Explained

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 Before we go into all the elements of the marketing mix, and to avoid confusion
between the 4p's, 7p's and even the 4c's – you should pay attention at the image below
to understand what makes up the entire marketing mix.

The image above is a simplistic diagram of the elements that are included in a
marketing mix. It is a basic concept, but here's the cold hard truth… If you don't
understand it in detail or at all, then there is a fairly certain chance that you are missing
out on the key ingredients that will ensure scalable success from the ground up. “It has
been said many, MANY times in business that if you don't know your target market well
enough and figured out what they exactly want, you'll commit entrepreneurial suicide
and the business will inevitably fail.”
On the other hand, you can be sure to attract mountains of profits when you have
a deep understanding of these concepts. Understand this fully and you will know exactly
how to maximize profits on your own sustainable business or help become a valuable
asset within your company and gain endless promotions.

Marketing Mix Definition:

The marketing mix definition is simple. It is about putting the right product or a
combination thereof in the place, at the right time, and at the right price. The difficult part
is doing this well, as you need to know every aspect of your business plan. “As we
noted before, the marketing mix is predominately associated with the 4P’s of marketing,
the 7P’s of service marketing, and the 4 Cs theories developed in the 1990s.

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#1 Marketing Mix – Product

A product is an item that is built or produced to satisfy the needs of a certain

group of people. The product can be intangible or tangible as it can be in the form of
services or goods. You must ensure to have the right type of product that is in demand
for your market. So, during the product development phase, the marketer must do an
extensive research on the life cycle of the product that they are creating. It is important
for marketers to reinvent their products to stimulate more demand once it reaches the
sales decline phase. Marketers must also create the right product mix. It may be wise to
expand your current product mix by diversifying and increasing the depth of your
product line. All in all, marketers must ask themselves the question “what can I do to
offer a better product to this group of people than my competitors”. In developing the
right product, you have to 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?

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#2 Marketing Mix – Price

The price of the product is basically the amount that a customer pays for to enjoy
it. Price is a very important component of the marketing mix definition. It is also a very
important component of a marketing plan as it determines your firm’s profit and survival.
Adjusting the price of the product has a big impact on the entire marketing strategy as
well as greatly affecting the sales and demand of the product. This is inherently a
touchy area though. If a company is new to the market and has not made a name for
themselves yet, it is unlikely that your target market will be willing to pay a high price.
Although they may be willing in the future to hand over large sums of money, it is
inevitably harder to get them to do so during the birth of a business. Pricing always help
shape the perception of your product in consumer’s eyes. Always remember that a low
price usually means an inferior good in the consumer’s eyes as they compare your good
to a competitor. Consequently, prices too high will make the costs outweigh the benefits
in customer’s eyes, and they will therefore value their money over your product. Be sure
to examine competitors pricing and price accordingly. 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
Market skimming pricing
Neutral pricing
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 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?

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#3 Marketing Mix – Place

Placement or distribution is a very important part of the product mix definition.

You have to position and distribute the product in a place that is accessible to potential
buyers. Understand them inside out and you will discover the most efficient positioning
and distribution channels that directly speak with your market. There are many
distribution strategies, including:
Intensive distribution
Exclusive distribution
Selective distribution
Franchising
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?

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#4 Marketing Mix – Promotion

Promotion is a very important component of marketing as it can boost brand

recognition and sales. Promotion is comprised of various elements like:
Sales Organization
Public Relations
Advertising
Sales Promotion
Advertising typically covers communication methods that are paid for like
television advertisements, radio commercials, print media, and internet advertisements.
In contemporary times, there seems to be a shift in focus offline to the online world.
Public relations, on the other hand, are communications that are typically not paid for.
This includes press releases, exhibitions, sponsorship deals, seminars, conferences, and events.
Word of mouth is also a type of product promotion. Word of mouth is an informal
communication about the benefits of the product by satisfied customers and ordinary
individuals. The sales staff plays a very important role in public relations and word of mouth. It
is important to not take this literally. Word of mouth can also circulate on the internet.
Harnessed effectively and it has the potential to be one of the most valuable assets you have in
boosting your profits online. 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.
The message you want to communicate, and the target market you have defined
already in previous steps.
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#5 Marketing Mix – People

Both target market and people directly related to the business. Thorough
research is important to discover whether there are enough people in your target market
that is in demand for certain types of products and services. The company’s employees
are important in marketing because they are the ones who deliver the service. It is
important to hire and train the right people to deliver superior service to the clients,
whether they run a support desk, customer service, copywriters, programmers…etc.
When a business finds people who genuinely believe in the products or services that
the particular business creates, it's is highly likely that the employees will perform the
best they can. Additionally, they'll be more open to honest feedback about the business
and input their own thoughts and passions which can scale and grow the business. This
is a secret, “internal” competitive advantage a business can have over other competitors
which can inherently affect a business's position in the marketplace.

#6 Marketing Mix- Packaging

Packaging: Your packaging is the gold star of your marketing mix – it can dictate
how well your strategy is working, and it involves each one of the points above.

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Packaging is what shows off your product in the best light, displays the price and value
of the product, communicates the product’s benefits to consumers, and it what
physically appears in your various distribution points. Your product may be the very best
on the market, but its packaging needs to be the main tool that represents this. It’s the
first thing people see, and it has the ability to catch or divert their attention within
seconds.

#7 Marketing Mix- Positioning

Positioning refers to the place that a brand occupies in the minds of the
customers and how it is distinguished from the products of the competitors and different
from the concept of brand awareness. In order to position products or brands,
companies may emphasize the distinguishing features of their brand (what it is, what it
does and how, etc.) or they may try to create a suitable image (inexpensive or premium,
utilitarian or luxurious, entry-level or high-end, etc.) through the marketing mix. Once a
brand has achieved a strong position, it can become difficult to reposition it.

Information Sheet 3

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 DEVELOP A BRAND NAME
A brand name distinguishes one product from another. There are several
different types of brand name and many benefits associated with having a good one;
because of this, businesses spend a lot of time and effort choosing them. A brand name
is one of the most powerful brand signals that you can own. Your brand name is more
than just a word. It is a paramount to its success. Few, if any, successful logos were
designed establishing the brand’s name. The process of developing identity, specifically
a verbal identity, can be defined as creativity under constraint. Often, in only single
word, brand name represents larger meaning to consumers by conveying a concept and
a promise.

Names are signals, and like all brand signals, name is a vessel that carries
meaning. Upon first encounter, some names are full of meaning, while others are empty
and filled with meaning over time. The name you choose to identify and differentiate
your brand must punctuate the position you are claiming. Depending on the position of
your brand takes and the competitive landscape you compete in, your brand’s name
either dilutes or strengthens your market position. The criteria by which you judge
potential brand name can help to mitigate the risk of making an off-brand decision. To
arrive at a memorable, marketable name you will need to consider the following;
Differentiation, Longevity, Phonetics, and Trademark-ability of all potential candidates.

Differentiation – A distinctive name champions the brand’s unique position by

communicating relevant to differentiation. It distinguishes the brand as being different
from competitive offerings. In crafting an atypical name, you frame your brand in a
unique way, which underscores the difference between your brand and those it
competes with. An effective brand name helps you to gain loyalty and capture higher
market share by delivering on the brand experience the state that your brand is truly
different and not a commodity.

Longevity – When marketers choose trendy names or names that are too descriptive of
a given technology they find that their brands quickly fall out of favor. If a word is
currently popular or is the “next big thing,” chances are it will not be for long and other
companies will choose similar names. This can compromise the brand’s position. By
developing strategically sound name that function as systems, the name can be applied
to a wide range of application over the life of the brand.

Phonetics – A name that is difficult to pronounce or uncomfortable to say is unlikely to

be repeated and remembered. Many names that work in the conference room simply do
not resonate in the marketplace. Invented, constructed, or de-constructed names must
mimic natural language if they are to connect with consumers. It is an issue of

SHS – APPLIED | ENTREPRENUERSHIP 13 | P a g e

phonetics. Your brand name says a lot about your intentions. If consumers cannot say
it, spell it, or they forget your name all together, it says nothing at all.

Trademark-Ability – The trademark of a viable name is its ability to be trademarked. As

a trademark, your name provides a propriety and legally protectable method for
identifying your goods or services against of competitors.

What’s More
Direction: In your activity notebook discuss briefly the following
questions.
1. Why are brand names important?
2. What are the role of promotion in the marketing mix?
Criteria 4 points 3 points 2 points 1 point
Explanation Complete Good Explanation Misses
response response is not clear points key
with with clear
detailed explanation
explna-tion
Demonstra- Shows Shows Response Response
ted complete substantial shows some shows lack
Knowledge under- under- under- of under-
standing of standing standing standing
the
question
Sensible Complete Has sensible Hardly Does not
Opinion response opinion makes have
with bright sensible sensible
opinion opinion opinions

SHS – APPLIED | ENTREPRENUERSHIP 14 | P a g e

 What I Have Learned

I learned that:
1. Marketing mix should have all the P’s compatible with each other. The price should
be compatible with the placement of the product.
2. A brand name distinguishes one product from another. There are several different
types of brand name and many benefits associated with having a good one; because of
this, businesses spend a lot of time and effort choosing them.

What I Can Do

Direction: Discuss about the impact of marketing mix in your place. Do it in a creative
way.

Criteria 4 points 3 points 2 points 1 point Score

Explanation Complete Good Explanation Misses
response response is not clear points key
with with clear
detailed explanation
explana-
tion
Demonstra- Shows Shows Response Response
ted complete substantial shows some shows lack
Knowledge under- under- under- of under-
standing of standing standing standing
the
question
Sensible Complete Has sensible Hardly Does not
Opinion response opinion makes have
with bright sensible sensible
opinion opinion opinions

SHS – APPLIED | ENTREPRENUERSHIP 15 | P a g e

 Assessment
Directions: Matching Type: Read and understand each statement. Match Column A with
Column B. Write the letter of the correct answer in your activity notebook.

Column A Column B

1. It is an item that is built or produced to satisfy the needs of a a. promotion

certain group of people.
2. It is basically the amount that a customer pays for to enjoy it. b. price
3. It is the process and methods used to bring the product or
service to the consumer. c. people
4. It is an important component of marketing as it can boost brand
recognition and sales d. positioning
5. The company’s employees are important in marketing because
they are the ones who deliver the services. e. product
6. It shows off your product in the best light, displays the price
and value of the product, communicates the products benefits
to consumers, and it what physically appears in your various f. packaging
distribution points.
7. It refers to the place that a brand occupies in the minds of the g. brand name
customers and how it is distinguished from the products of
the competitors and different from the concept of brand h. place
awareness.
8. It distinguishes one product from another. i. differentiation
9. It is about putting the right product or a combination thereof in
the place, at the right time and at the right price j. phonetics
10. It distinguishes the brand as being different from competitive
offerings. k. longevity
11. Developing strategically sound name that functions as
systems, the name can be applied to a wide range of
application over the life of the brand. l. trademark
12. A brand name that is difficult to pronounce or comfortable to
m. public relations
say is unlikely to be repeated and remembered.
13. It is an informal communication about the benefits of the n. advertisement
product by satisfied customers and ordinary individuals.
14. It covers communication methods that are paid for like o. word of mouth
television advertisement, radio commercials, print media and
internet.
15. A brand name provides a propriety and legally protectable p. marketing mix
methods for identifying your goods or services against of
competitors.
16. It is a kind of advertisement that are typically not paid, this

SHS – APPLIED | ENTREPRENUERSHIP 16 | P a g e

 includes press releases, exhibitions and sponsorship deals.

Answer Key

What I Know
1. e
2. b
3. h
4. a
5. c
6. d
7. f
8. g
9. p
10. i
11. k
12. j
13. o
14. n
15. l
16. m

What’s In
1. Market analysis is a thorough assessment of the current market.
2. In conducting market analysis it help you build a smarter strategy for growing
business.
SHS – APPLIED | ENTREPRENUERSHIP 17 | P a g e
What’s New
1. Yes
2. It conforms my need for a product.

What’s More
1. A brand name distinguishes one product from another.
2. Promotion is a very important component of marketing as it can boost brand
recognition and sales.

What I Can Do
The impact of marketing mix in a certain community it provides a customer a product
differentiation.

Assessment
1. e
2. b
3. h
4. a
5. c
6. d
7. f
8. g
9. p
10. i
11. k
12. j
13. o
14. n
15. l
16. m

SHS – APPLIED | ENTREPRENUERSHIP 18 | P a g e

References
(https://www.google.com/search?q=BUSINESS+PICTURES&tbm=isch&ved=2ahUKEwjr-
rvJnOjsAhWAw4sBHWg4D74Q2-
cCegQIABAA&oq=BUSINESS+PICTURES&gs_lcp=CgNpbWcQAzICCAAyAggAMgIIADICCAAyAggAM
gIIADICCAAyAggAMgIIADICCABQptM_WJiYQGCUoEBoAHAAeACAAdcLiAHcJ5IBBTYtMS4zmAEAo
AEBqg n.d.)

https://www.slideshare.net/MillionairesForIndia/importance-of-entrepreneurship-
education
https://marketingmix.co.uk/marketing-mix-7ps/#forward

https://www.wisegeek.org/what-is-a-brand-namebtm

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