Entrepreneurship

Quarter 3

Learner’s Packet
 Entrepreneurship
Grade 11
Quarter 3

Schools Division Office Management Team: Rosemarie C. Blando, August Jamora,

Merle D. Lopez, Florendo S. Galang

Writer/s: Mark Anthony Z. Umali, Rochelle G. Bermejo, Judith P. Zapanta

Illustrator: Julius Burdeos

“A slack hand causes poverty, but the hand of the diligent makes rich.”

- Proverbs 10:4, ESV

Entrepreneurship
Quarter 3
First Edition, 2020

Published by: Department of Education SDO—Rizal

Schools Division Superintendent: Cherrylou D. Repia
Assistant Schools Division Superintendents:
Gloria C. Roque and Babylyn M. Pambid

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 Viability, Profitability and WEEK
Customer Requirements 5
I Lesson

This learner’s packet presents the significance of entrepreneurial ideas as a foun-

dation for understanding of concepts, underlying principles, and processes of develop-
ing a business plan.
This lesson introduces you to independently or with your classmates presents
acceptable detailed business plan.
At the end of the lesson, you are expected to recognize a potential market and
screen the proposed solution/s based on viability, profitability, and customer require-
ments.

D
The entrepreneur’s desire to establish his business is a visible idea yet it must
come into a test whether it is a viable business option. It needs a careful analysis of op-
portunity evaluation.

The Entrepreneur should look deeper into the following areas based on Viability:
Management must be able to set the direction of the enterprise with a clear Mission
and Vision as the guiding tool for its plans and programs. They must give emphasis on
the technical and manpower complements. They must introduce new technology to make
work easier for the working team.

The Entrepreneur should look deeper into the following areas on Profitability:
Whatever capital is available determines the kind of business operation. Savings
and wise investments are characteristics of successful business entrepreneurs. Sources of
funds: Savings, Assets, Banks, Partnership & Stock options

The Entrepreneur should look deeper into the following areas on Customer require-
ment:
The marketing program needs demand analysis. The demographic profile of the
customer must be taken into account as the success of the product depends on the target
customer. Marketing research will determine the true picture of the market demand and
the product competitors.

The Entrepreneur should look deeper into the following areas on Productivity:
Product specifications must be maintained according to product standards that are
acceptable to customers-Quality. Production schedule must be made together with prod-
uct specifications. Work schedules must be followed to save time and energy. Inventory
reports must be available and warehousing activities are supervised accordingly.

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 E
Learning Task 1: Being a entrepreneurship students, explain the meaning of the following
concepts.

1. Business Opportunity

2. Management Team

3. Marketing Program

4. Production Program

5. Financial Program
 A
Learning Task 2: Being a future entrepreneur, what are the functions of the following:

1. Management Team

2. Financial Management

3. Production Process

4. Marketing Program

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 WEEK

Best Product for Market Need 6

Lesson
I
This learner’s packet presents the significance of entrepreneurial ideas as a founda-
tion for understanding of concepts, underlying principles, and processes of developing a
business plan.
This lesson introduces you to independently or with your classmates presents ac-
ceptable detailed business plan.
At the end of the lesson, you are expected to recognize a potential market and select
the best product or service that will meet the market needs.

D
Tips in Choosing the Business Name

1. Easy to recall or remember - the business name must be understandable so it is

easily stored or recalled in the memory.
2. Pleasant Meaning Creates Pleasant Feelings - it produces positive or favorable
feeling upon saying or introducing to the public.
3. Easy to Pronounce - the business name must be mentioned as freely as it can be.
4. Easy to Spell - the business name must be simple or easy. Words that are used in
everyday communication will be an advantage.
5. Related to the Product - the business name must describe or relate the product. It
represents the features of the product.

Product Life Cycle

The Product Life Cycle concept describes and relates the product’s sales, profits,
customers, competitors, and marketing emphasis from its beginning until it is removed or
pull out from the market.

Stages of Product Life Cycle

I. Product Development

The company should think of a new product. A new product is a modification, crea-
tion, and innovation of an existing product which makes the product more significant to
the customer.

The new product planning process involves a series of steps:

1. Idea Generation - searching and looking for new product or business opportunities.
The employees, channel members, competitors, and customers can be good source.

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2. Idea Screening - ideas which are not suitable, not attractive, or poor are junked. Ideas
together with characteristics are rated on the basis of a rating from 1-10.

3. Concept testing - ideas which have proceed the screening stage will now require feed-
back from the consumer. It measures consumer eagerness by asking potential consumer to
react to a picture, statement, or oral description of a product.

4. Business Analysis - is a evaluation of market factors, revenues, cost and trends.

5. Product Development - ideas are transformed into tangible form.

6. Test Marketing - requires a selling of a fully developed product in a selected city and
observing the actual or on the spot performance under the chosen marketing plan.

7. Commercialization - this involves the real/actual marketing of the product in the tar-
get market. The different activities to introduce the product to the market must be present-
ed.

II. Introduction

A new product is introduced into the marketplace and the objective is to generate
consumer interest. The rate of sales growth depends on the attractiveness of the product,
competition is limited or selected, losses are experienced because of high production and
marketing costs. Initial and on-the-spot customers are called innovators who are willing to
take risk because the product is new in the market. Promotions must be informative and
free samples may be desirable.

III. Growth

The product acquires wider consumer acceptance and the objective are to expand
distribution and the range of available product alternatives. More companies enter the prof-
itable and tested market. Profits are high because the mass market buys from a limited
group of companies. Basic model are change and chose; distribution is expanded combined
with mass advertising to meet new targets.

IV. Maturity

The product’s sales level and companies try to keep lower price, better product fea-
tures for as long as possible. Market is saturated, penetrated and rivalry at this highest lev-
el. Company profits decline because discounting becomes well liked and high cost in adver-
tising. Products are available at most outlets at different prices. Promotion is very competi-
tive.

V. Decline

The product’s sales falls as alternatives and new competitors enter the market. Dur-
ing this stage, companies may reduce or lessen the items produced and outlets used, pro-
motion utilized, or they can revive and renew the product by repositioning, repackaging or
they can stop the product.

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 E
Learning Task 1: Being a entrepreneurship students, explain the meaning of the following
concepts.

1. Product Life Cycle

2. Idea Generation

3. Concept Testing

4. Test Marketing

5. Commercialization

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 A
Learning Task 2: Being a future entrepreneur, explain the meaning of the following
stages of Product Life Cycle.

1. Product Development Stage

2. Introduction Stage

3. Growth Stage

4. Maturity Stage

5. Decline Stage

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 WEEK
Importance of Marketing Mix in the 7
Development of Marketing Strategy
Lesson
I
This learner’s packet presents the significance of entrepreneurial ideas as a founda-
tion for understanding of environment and market in one’s locality or town.
This lesson introduces you to independently or with your classmates presents ac-
ceptable detailed business plan.
At the end of the lesson, you are expected to independently creates a business vicini-
ty map reflective of potential market in one’s locality or town.

D
The Marketing Mix
The marketing mix variables are parts of the internal environment of the company
created and as such, the firm can directly manipulate them in pursuance of a sound mar-
keting strategy. The marketing mix may consist of the following variables: 1. product; 2.
price; 3. promotion; and 4. place.

The business may manipulate any or all of the variables in its attempt to attain its
sales revenue target. For instance, a mix may give more emphasis to product quality than
promotional efforts.

The intensities applied to the variables may change from time to time but it is still
“the marketing mix” at any given time. Company practices and budget limitations, however,
affect the discretion of the company in allocating financial and non-financial resources to all
of the variables.

Product - the tangible commodity or the intangible service that the business firm offers for
sale to prospective customers. It also includes the warranties and other conditions attached
to the product.

Price - the amount of money paid by the customer to the selling business firm so the cus-
tomer can use the product. The transaction could mean either absolute transfer of owner-
ship from seller to buyer or a rent or lease arrangement. The price is set to attract prospec-
tive customers to buy.

Place - when the business firm wants to emphasize the place variable, it makes the busi-
ness company’s products available in the location and time required by buyers. The channel
of distribution helps implement the business firm’s concern about the place variable. In re-
ality, it is the link between the seller and the buyer is the channel of distribution.

Promotion - the provision of required information to prospective customers so that they are
persuaded to buy.

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 E
Learning Task 1: Being a entrepreneurship students, explain the meaning of the following
concepts.

1. Marketing Concept

2. Marketing Mix

A
Learning Task 2: Being a future entrepreneur, what are the importance of the following:

1. Product

2. Price

3. Place

4. Promotion

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 WEEK

8
Lesson
I
This learner’s packet presents the significance of entrepreneurial ideas as a founda-
tion for understanding of environment and market in one’s locality or town.
This lesson introduces you to independently or with your classmates presents ac-
ceptable detailed business plan.
At the end of the lesson, you are expected to describe the Marketing Mix (7P’s) in re-
lation to the business opportunity.

D
7P’s of Marketing Mix
The marketing mix or more popularly known as the 4Ps of marketing is a set of con-
trollable and inter-related variables composed of product, place, price and promotions that
the company assembles to satisfy a target group. Note the intent, which is to satisfy the tar-
get market. If the target market is unclear, the marketing mix is useless.
While packaging (part of the product is important, so is branding and ingredients).
(Josiah Go, p.142)

Role of Each Marketing Mix Element

Product/ Service - To satisfy consumer needs and wants.

Promotech is a promotions agency that also handles merchandising and events. Its
first client in 1996, Magnolia, is still their client today, creating a satisfying business rela-
tionship that has lasted over two decades.

Price - To make product affordable to target consumers.

Masflex is a cookware brand launched by Ramesh trading in 1989. the owner,
Haresh Mirchandani, gave the brand name Masflex from two combine words– Mass market
and Flexible, the former is the market they are trying to reach, and the latter, the feature of
the products they are marketing at affordable prices. Of course, they had to be true to
their branding as branding give a hint of the positioning. This they did on two elements.
 Mass Market- economy premium pricing, meaning slightly higher than economy
brands justified by quality dimensions and additional features, but half the price of
the very expensive brands with the same or similar feature.
 Flexible– being the first to market affordable induction cookware and compatible pots
and pans.

Place - To make product available consistent with consumer’s purchasing pattern.

Amazon started by selling books online but expanded to sell toys, games and small
appliances, gadgets like Kindle, Fire TV and Echo, services like web services, and Prime In-
stant Video and Prime Music, creating an Amazon ecosystem. Amazon Prime also offers its
members free two-hour delivery on over ten thousand items or one-hour delivery for
P650.00/month.

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Promotions - To build and improve consumer demand. Promotions has four components
called the Promotions Mix: advertising, sales promotions, public relations and selling.

 Advertising– To effectively inform, persuade and remind the target consumers

 Sales Promotions– To convince customers to buy immediately
Public Relations– Offer a positive image of the company and the brand, as well as pro-
mote an advocacy.
 Selling– To get the customers to buy

Service

Physical Environment - To create the tangible expression of the brand engaging the senses
through the layout and images of the services cape.

Nurture Spa is located in Antipolo City. Started by Cathy Turvill as a coping mecha-
nism to get over a heartbreak and a desire to look for peace and balance in the cold weather
of Antipolo City, away from chaotic Metro Manila. Nurture Spa is one of the destination spas
in the Philippines today, growing from four to over 140 employees. From individuals as target
market, it expanded to groups for team building and even wedding receptions. This is be-
cause from messages, they went into wraps and facials, then evolved into a Nurture Wellness
Village, which offers detox programs and a “Farmacy” that provides educational tours on
medical plants using natural fertilizers while promoting healthy cooking.

People– To show a living representation of the brand promise.

The Bistro Group of restaurants prides itself with well-trained frontliners– from the
utility people to waiters, to the supervisors and managers. The waiters are the personification
of the brand promise and are expected to treat all customers as well as they would treat their
own guests at home, consistent with our well-known Filipino hospitality.

Process - To experience how the brand delivers value.

A look at the ordering and fulfillment process of Starbucks tells us a chain of inter–
related value-creating activities - a nice homey ambience, an English-speaking cashier, sev-
eral choices you have to indicate to make your coffee order, the premium price you have to
pay, the barista creating your fresh coffee while you wait, and your name being called out
publicly - - all points to the brand delivering a unique coffee experience to one with high
self-worth.

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 E
Learning Task 1: Answer the questions comprehensively.
1. Among the seven P’s of Marketing or Marketing Mix, what do you think is the first priori-
ty of the organization? Explain briefly.

Learning Task 2: Answer the questions comprehensively.

1. How the Marketing Mix help the entrepreneurs?
2. What is the significance of the marketing mix to the student like you?

Learning Task 3:
What I have Learned?

What I can Do as Student Entrepreneur?

A
Learning Task 4: Being a future entrepreneur, explain the meaning of the following terms.

1. Physical Environment

2. People

3. Process

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References

Acierto, Marife A., 2018. Entrepreneurship, Manila: Unlimited Books Library Services and
Publishing Inc.

Fajardo, Feliciano R., 2009, Entrepreneurship, Mandaluyong City: National Book Store

Medina, Roberto, 2008, Principles of Marketing, Manila: Rex Book Store, Inc.

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Para sa mga katanungan o puna, sumulat o tumawag sa:

Department of Education Division Rizal Office

Address: DepEd Bldg., Cabrera Rd., Bgy. Dolores, Taytay, Rizal 1920

Telephone number: 09274562115/09615294771

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