Entrepreneurship – Grade 12

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Quarter 1 - Module 5
First Edition, 2020

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Authors: Joel Y. Yacas Janice B. Dominguez

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2
What I Need to Know ………......................................... 3 4
What I Know ………......................................... 4 5
Lesson 1: The Marketing Mix (7P’s) in Relation to Business Opportunity
What’s In ……………………………………. 6 7
What’s New ……………………………………. 6 7
What is It ……………………………………. 7 8
The 7P’s of Marketing Mix.……………………………….…. 7 8
Lesson 2: Developing a Brand Name 12
Commonly Used Branding Strategies.…………... …......... 11 12
What’s More ………......................................... 13 14
What I Have Learned ………......................................... 14 15
What Can I Do ………......................................... 15 16
Assessment ………......................................... 17 18
Additional Activities ………......................................... 18 19
Quarter Challenge 1 …………………………………….. 21 22
Answer Key ………......................................... 30 31
References ………......................................... 31 32
 What I Need to Know

Congratulations! You have finished many assigned activities in the previous

modules. Welcome to Module five (5). This module introduces the Marketing Mix,
more popularly referred to as the 7P’s of Marketing. 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. Marketing Mix
strategy is selecting and applying the best potential means to achieve the
organization’s vision and gain competitive edge.

This module provides context and foundational knowledge. It is divided into two
lessons.
Lesson 1 The Marketing Mix (7P’s) in relation to the business opportunity

Lesson 2 Develop a Brand Name

After reading this module, you should be able to:

1. describe the Concept of Marketing Mix;

2. identify the seven P’s in the Marketing Mix;
3. identify the commonly used brand strategy; and
4. developed a Brand Name.

You start discovering a new world – the world of business. Who knows, one day
you may grow into one of the successful entrepreneurs in our country can be proud
of. However, you have to:

Reading the texts carefully

Follow the directions and/or instructions in the activities and exercises diligently
Answer all the given test and exercises

4
 What I know

Before you start studying this module, take the following test to find out how much
you already know about this topic. Let’s check your prior knowledge, skills, and
understanding of basic concepts related to the Seven P’s in the Marketing Mix and
Branding. This will guide you in understanding the concept.

Now, are you ready? Before proceeding, let’s see what you already know. This
test is particularly prepared to determine your prior knowledge of the lessons you are
about to encounter.

Multiple Choice
Direction:

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.
a. Price b. Marketing Mix c. Product d. Packaging

2) The amount that a customer pays for to enjoy it.

a. Price b. Marketing Mix c. Product d. Packaging

3) An item that is produced to satisfy the needs of a certain group of people.

a. Price b. Marketing Mix c. Product d. Packaging

4) It is a tangible product. It’s example includes tires, MP3 players, clothing and etc.
a. Branding b. Positioning c. Goods d. Place

5) It can be intangible or tangible as it can be in the form of services or goods.

a. Price b. Marketing Mix c. Product d. Packaging

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6) The way your product or service appears from the outside.
a. Price b. Marketing Mix c. Product d. Packaging

7) A marketing model that modifies the 4Ps model.

a. Packaging b. 7 P’s Model c. Marketing Mix d. People

8) Responsible for every element of your sales, marketing strategies, and activities.
a. Packaging b. 7 P’s Model c. Marketing Mix d. People

9) How a business creates awareness in the market?

a. Place b. Brand Name c. Services d. Promotion

10) It is intangible. Its example includes hair salons and accounting firms
a.Place b. Brand Name c. Services d. Promotion

11) The ultimate marketing strategy.

a. 7 P’s Model b. Marketing Mix c. People d. Branding

12) Where your product or service is actually sold.

a. Place b. Brand Name c. Services d. Promotion

13) The place occupied by products in the heart and minds of the consumers.
a. Branding b. Positioning c. Goods d. Place

14) A name, symbol, or other feature that distinguishes a seller's goods or services in
the marketplace.
a. Brand Name b. Positioning c. Branding d. Place

15) A powerful and sustainable high-level marketing strategy used to create or

influence a brand.
a. Brand Name b. Positioning c. Branding d. Place

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 Lesson
1 the Business Opportunity

What’s In

In the previous lesson, you already know about a data collection. It is an important
factor of any research study. The three (3) ways of collecting data are Survey,
Interview, and Focus Group Discussion (FGD). This will help entrepreneurs in
gathering information about their target market.

What’s New

Find the P’s

Directions:

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 What is It

Marketing Mix is a set of controllable and connected variables that a company

gather to satisfy a customer better than its competitor. It is also known as the “Ps” in
marketing. Originally, there were only 4Ps but the model has been continually modified
until it became 7P’s. The original 4 P’s stands for and .
Eventually, three elements have been added, namely: and
to comprise the 7 P’s.

Marketing strategy typically starts with the product. Marketers can’t plan a
distribution system or set a price if they don’t know exactly what the product will be
offered to the market.

refers to any goods or services that are produced to meet the

consumers’ wants, tastes and preferences. An example of goods includes ,
, . Goods can be categorized into or
. A buyer of consumer goods may not have thorough knowledge of the goods
he buys and uses. An example of services includes hair salons and accounting firms.
Services can be divided into consumer services, such as hair styling or professional
services, such as engineering and accounting.

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.

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 contains two stages between producer and consumer - a wholesaler and a
retailer. A wholesaler typically buys and stores large quantities of several producers'
goods and then breaks into bulk deliveries to supply retailers with smaller quantities.
For small retailers with limited order quantities, the use of wholesalers makes
economic sense.

contains one intermediary. In consumer markets, this is typically a retailer.

A retailer is a company that buys products from a manufacturer or wholesaler and sells
them to end users or customers. In a sense, a retailer is an intermediary or middleman
that customers use to get products from the manufacturers.

is called a "direct-marketing" channel, since it has no intermediary levels.

In this case the manufacturer sells directly to customers.

The price is a serious component of the marketing mix. What do you think is the
meaning of a ?
In the narrowest sense, is the value of money in exchange for a product or
service. Generally speaking, the is the amount or value that a customer gives up
to enjoy the benefits of having or using a product or service. One example of a pricing
strategy is the penetration pricing. It is when the price charged for products and
services is set artificially low in order to gain market share. Once this is attained, the
price can be higher than before. For example, if you are going to open a Beauty Salon,
you need to set your prices lower than those of your competitors so that you can

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penetrate the market. If you already have a good number of market share then you
can slowly increase your price.

refers to the complete set of activities, which communicate the

product, brand or service to the user. The idea is to attract people to buy your product
over others. Advertising, Personal Selling, Sales Promotion, Direct Marketing, and
Social Media are examples of promotion.

Your team, a staff that makes it happen for you, your audience, and your
advertisers are the people in marketing. This consists of each person who is involved
in the product or service whether directly or indirectly.
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.
Therefore, the right people are essential in marketing mix in the current marketing
scenario.

Packaging is a silent hero in the marketing world. 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.

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 When a company presents a product or service in a way that is different from the
competitors, they are said to be “positioning” it. refers to a process used
by marketers to create an image in the minds of a target market.
Solid positioning will allow a single product to attract different customers for not
the same reasons. For example, two people are interested in buying a phone; one
wants a phone that is cheaper in price and fashionable while the other buyer is looking
for a phone that is durable and has longer battery life and yet they buy the same exact
phone.

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 Lesson
Develop a Brand Name
2

is a name, symbol, or other feature that distinguishes a seller's

goods or services in the marketplace. Your is one of your greatest assets
because your brand is your customers' over-all experience of your business.
is a long-term design for the development of a popular brand in order to
achieve the goals and objectives. A well-defined brand strategy shakes all parts of a
business and is directly linked to customer needs, wants, emotions, and competitive
surroundings

Experts believe that a good brand can result in better loyalty for its customers, a
better corporate image and a more relevant identity.

As more customers continue to differentiate between emotional and experienced

companies, a brand may be the first step forward in your competition instead of price
points and product features. The question is, can you build a brand which truly talks
to your audience?

is a powerful and sustainable high-level marketing strategy used to

create or influence a brand. Branding as a strategy to distinguish products and
companies and to build economic value to both customers and to brand owners, are
described by Pickton and Broderick in 2001.

Commonly Used Branding Strategy

"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).

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 How can you define your business' purpose? According to Business Strategy
Insider, purpose can be viewed in two ways:

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.
This way focuses on fulfillment as it relates to the capability to
generate money and do well in the world.

The significant of consistency is to avoid things that don’t relate to or improve

your brand. Consistency aids to brand recognition, which fuels customer loyalty.

There should be an emotional voice, whispering "Buy me". This means you allow
the customers have 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.

Marketers should remain flexible to 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.

According to Kevin Budelmann, "Effective identity programs require sufficient

consistency to be identifiable, but sufficient variation to keep things fresh and human"
so if your old tactics don't work anymore, don't be afraid to change. It doesn’t mean it
worked in the past it may still work now.

It is equally important for your employees to be well versed in how they

communicate with customers and represent the brand of your product

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 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.

Do not be frightened of competition. Take it as a challenge to improve your

branding strategy and craft a better value in your brand.

What’s More

Draw to Survive

Direction: .

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 Description
The illustration of the concept map is clear and complete.
The illustration of the concept map is complete.
The illustration of the concept map is lacking 1.
The illustration of the concept map is lacking 2
The illustration of the concept map is lacking 3.

What I Have Learned

Marketing mix constitutes of the 7P’s in case of products – product, price, place
and promotion. In case of services it constitutes of 3 more P’s – people, packaging
and positioning.

All P's should be compatible in marketing mix. The price is compatible with the
product's placement. The product must be consistent with the promotion. In general,
all P’s are connected intrinsically.

As a result, when you make a marketing mix, it becomes a chain of strong bonds.
Then these connections will lead you to lengthen the chain. Whenever you plan to add
or change existing features, you need to see the general image which helps create a
fresh product in marketing mix.

Branding is absolutely critical to a business because of the overall impact it

makes on your company. Branding can change how people percept your brand, it can
drive new business and increase brand awareness.

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 What I Can Do

Paste the P’s

Look for newspapers or magazines. Find and identify pictures related to the P’s
in Marketing Mix. Cut out the pictures, sort and paste them on the box, then write a
short description on the line next to the picture.

PICTURE 1

PICTURE 2

PICTURE 3

PICTURE 4

Description
The table is complete with pictures and the descriptions are correct.
The table is lacking one (1) picture and the descriptions are correct.
The table is lacking two (2) pictures and the descriptions are correct.
The table is lacking three (3) pictures and the descriptions are correct.
The table is lacking one (4) pictures and the descriptions are correct.

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The Power of Color!

I am going to show you some colors. For each one, write down the FIRST
company or product that comes in to your head when you see the color.

What’s the you think of when you see these colors?

RED-

BLUE-

BLACK-

YELLOW-

ORANGE-

GREEN-

Description
The diagram is complete with the right brand written in its corresponding
color.
The diagram is lacking one (1) with the right brand written in its
corresponding color.
The diagram is lacking two (2) with the right brand written in its
corresponding color.
The diagram is lacking three (3) with the right brand written in its
corresponding color.
The diagram is lacking four (4) with the right brand written in its
corresponding color.

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 Assessment

Identification
Direction: Write the word or phrase that is being described or completes the thought
of each statement.

______________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 it.
______________3. An item that is built or produced to satisfy the needs of a certain
group of people.
______________4. It determines your firm’s profit and survival.
______________5. It can be intangible or tangible as it can be in the form of services
or goods.
______________6. The way your product or service appears from the outside.
______________7. A marketing model that modifies the 4Ps model.
______________8. 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. Where your product or service is actually sold.
______________13. The place occupied by products in the heart 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.

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 Additional Activities

Pictionary Style
Direction:

Who are your

Target Market? What is your
Suitable Name for
Product ?
(age, gender, the Product
(description)
income)

Suitable Color for Suitable shape for Suitable Material for

the Packaging the Packaging the Packaging

Justify your Brand

Sketch the Product, Create a Brand
Name using the
sketch the logo Name
Branding Strategies

. Invent a new product and give it a name. Sketch it.

. Once you have chosen the name for your product write a short explanation.
In your explanations you should describe your product and explain how and why you
chose its name.

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Here are some useful phrases that may help you with your tasks and explanations:

My Target Market is/are _______________________________________________.

I would like to introduce my new product ___________________________________
___________________________________________________________________.
I chose the name ___________________ because __________________________
___________________________________________________________________.
You can use it to _____________________________________________________
I chose the Brand Name _________________________ because ______________
___________________________________________________________________
___________________________________________________________________
___________________________________________________________________.
___________________________________________________________________
___________________________________________________________________.

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 Description
The imaginary product is illustrated with a unique the brand name. There
is an explanation describing the product and its name.
The imaginary product is illustrated with a brand name. There is an
explanations describing the product and its name
The imaginary product is illustrated with a brand name. There is an
explanation describing the product.
The imaginary product is illustrated with a brand name.
The imaginary product is illustrated.

This is the end of Module five (5). You did a great job! It is Indeed an
achievement. Congratulations!!! Hard work pays off and you really proved it!!! Try to
learn more about Entrepreneurship in the next Modules. Thank you for being patient,
honest, and committed.

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 QUARTER CHALLENGE 1

Multiple Choice
Direction:
The entrepreneurs who create new ideas are called?
A. Innovative
B. Imitating
C. Fabian
D. Drone
The entrepreneur who lives on the labor of others is called?
A. Drone
B. Fabian
C. Imitating
D. Innovative
These are entrepreneurs who are to follow the path shown by
innovative entrepreneur.
A. Innovative
B. Imitating
C. Social Entrepreneurs
D. Fabian
Which of the following is NOT a function of an entrepreneur?
A. Skills management
B. Risk taking
C. Conduct research
D. Make no changes with his product
Entrepreneur means:
A. Risk taker
B. To undertake
C. To research
D. To improve standard of living

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 It is a personality factor which means “doing things even before
being told”
A. proactive
B. perseverance
C. persuasion
D. initiative

It is a personality factor which means convincing customers to

buy the product
A. Proactive
B. Persuasion
C. Self-confidence
D. Risk-taker
Which of the choices is NOT part of the environmental factors?
A. Political
B. Weather condition
C. climate
D. family background of the manager

All except one does NOT belong to the group?

A. Unfair trade practices
B. Strikes
C. Political protest
D. Product
The entrepreneur who are skeptical about the changes in the
company is called?
A. Fabian
B. Social entrepreneur
C. Drone
D. Imitating

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The following are the forces competing within the industry except
one:
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants
They are the one that provides something that is needed or wanted.
A. Buyers C. Buyers
B. Competitors D. Sellers
It refers to the physical environment, societal environment, and
industry environment where the business operates.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. External Environment D. Entrepreneurial heart frame
They are the one who enters something.
A. Buyers C. Suppliers
B. new entrants D. Sellers

A. Substantial capital requirement.

B. Substitute products are not readily available in the market
C. Difficulty in accessing distribution channels.
D. The product or service is unique.
E. Characteristics of the products or services.
F. Increased capacity
In Potential New Entrants the intensity of its threat will be affected by
the presence of the following barriers.
A. A and C C. A only
B. A, B, C and D D. All of the above
In rivalry among existing Firms the industry is attributable to the
following factors.
A. E and F C. A and B
B. A, B, C and D D. All of the above

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 Which of the following includes the industry environment of the
business?
A. Competitors C. Creditors
B. Customers D. All of the above
It is the process of considering, evaluating, and pursuing market-
based activities that are believed to be advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity
This is essential to opportunity seeking which allows the
entrepreneur to see things in a positive and optimistic light in the
midst of crisis or difficult situations.

A. Entrepreneurial mind frame C. Entrepreneurial heart flame

B. Entrepreneurial gut game D. Entrepreneurial heart frame
It is the ability of entrepreneur that can sense without using the five
senses, also known as intuition.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame

What is the function of Value Proposition?

A. use to power up sales
B. customers buying habits
C. convince customer to purchase a particular product or services.
D. provide value to your customers
Give example in promotion using Value Proposition and Unique
Selling Proposition.
A. fruit shake stand
B. with the slogan “Langhap Sarap”
C. ordinary sari-sari store
D. multinational business
Select type of customer requirement
A. service responsibility C. service requirement
B. service oriented D. service fulfillment

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 Considered favorable indicators for doing business in that particular
location.
A. structure of the segment
B. capability of the business
C. size and growth of the segment
D. segmentation marketing
What is market size?
A. tangible things that can be seen.
B. The most important part to the success of the company
C. Size of arena where the entrepreneur will play their business
D. another variation of segmentation marketing.
This refers to how you sell your products or services to you
customer.
A. Value proposition C. Selling proposition
B. Marketing concept D. Unique selling proposition
Service requirement _____________ thing or product not able to
touch but customer can feel the fulfillment.
A. Intangible C. Service
B. Tangible D. Output
Tips for the entrepreneur on how to create an effective unique selling
proposition to the target customers, except.
A. Completeness of proportion
B. Identify and rank the uniqueness of the product or services
characteristic.
C. Very specific
D. Keep it short and simple
________________ will determine entrepreneur possible customers
in one locality.
A. Market design C. Market strategy
B. market size D. market research
The following variable to consider in behavioral segmentation,
except.
A. perception C. reaction
B. brand concept D. benefits

26
 It is the most common way to gather primary research with the use
of questionnaires or interview schedule.
A. Interview C. survey
B. focus group discussion D. data gathering

It is the traditional method of data collection which is normally done

on a face-to-face manner with the respondents.
A. personal interview C. survey
B. focus group discussion D. data gathering
It refers to a type of focus group discussion where it obtains
information on general attitudes, understand the circumstances
under which customers might require your product, or service,
understand their desired outcomes
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
It is a type of FGD where customers go to get similar information,
services or products and what attracts them to those resources.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
A data gathering technique where it can be moderated to group
interviews and brainstorming sessions that provide information on
user’s needs and behaviors.
A. personal interview C. survey
B. focus group discussion D. data gathering
It refers to information gathered directly from the respondents who
answered set of questions.
A. primary research C. survey
B. secondary research D. data gathering
It is a type of discussions in FGD if trade-offs have to be made
among various customer needs.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis

27
 A data gathering technique where it can be done via direct mail, over
the phone, internet or e-mail.
A. data gathering C. focus group discussion
B. survey D. personal interview
It is the process of gathering, analyzing and interpreting the
information about the product or the services to be offered for sale in
the market, the market and about past, present and any potential
consumers for the products.
A. data gathering C. secondary research
B. primary research D. market research
It is an important aspect of any type of research study, it can impact
the results of a study and ultimately lead to valid or invalid results.
A. data collection C. secondary research
B. primary research D. market research
Which one is not a P in Marketing Mix?
A. Price B. People C. Participant D. Promotion
Which statement supports Marketing Mix?
A. The marketing mix is also known as the “M’s” in marketing.
B. Marketing Mix is a set of controllable and connected variables that
a company gathers to satisfy a target group better than its
competitor.
C. There are only 4 P’s in Marketing Mix.
D. None of the above
Select the best definition of Product.
A. A product is an item that is built or produced to satisfy the needs of
a certain group of people, it can be intangible or tangible.
B. A product is an item that is built or produced primarily to gain profit;
it can be intangible or tangible.
C. A product is an item that is built or produced to compete in the
world of business; it can be intangible or tangible.
D. None of the above

28
Choose the best statement that applies in Consumer Goods.
A. A buyer of consumer goods must have complete knowledge of the
goods he buys and uses.
B. After-sale service is of paramount importance in the case of all
consumer goods.
C. The market for consumer goods is affected by technological
changes.
D. A buyer of consumer goods may not have thorough knowledge of
the goods he buys and uses.

What factors would change in the distribution channel if there will be no

Intermediary like producer and consumer?
A. Nothing will take place, since it has no intermediary levels. In this
case the manufacturer cannot sell to customers.
B. Direct-marketing will take place, since it has no intermediary levels
in this case the manufacturer sells directly to customers.
C. The company will utilize Technology to reach the customers.
D. All of the above

What is the advantage of Penetration Pricing?

A. A firm has three options and these are to price lower, price the
same or price higher than competitors
B. A firm can create the perception that the products must have a
higher value than competing products because the prices are
higher.
C. The company earns more through cross-selling products along with
a basic core product.
D. The company will gain market share because the price charged
for products and services is set artificially low.

29
 Promotions refer to the partial set of activities, which communicate
the product, brand or service to the user. The idea is to make
people be aware, attract and induce to buy the product, in
preference over others. Find the error.

A. partial set of activities

B. which communicate the product
C. idea is to make people aware, attract and induce to buy the
product
D. No error

How would you promote a product?

A. By offering Free Gifts, Free Samples, Free Trial, Customer
Contests, Special Pricing
B. By offering Brochure, Catalogues, Fliers, Newsletters
C. By offering Post cards, Coupons, Email, Phone calls, Text
messages
D. None of the above
The following are interpretation of the word Brand except
A. a legal instrument C. a business
B. a logo D. a vision
How can you define your business' purpose?
A. Purpose can be defined in two ways: Functional which focuses on
the evaluations of success in terms of immediate and
commercial reasons and Intentional which focuses on success as
it relates to the ability to make money and do well in the world.
B. Purpose can be defined in two ways: National which focuses on
the evaluations of success within the country for commercial
reasons and International which focuses on success as it relates
to other countries to make money and do well in the world.
C. All of the above
D. None of the above

t’s a job well done! You have successfully completed the modules for

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