San Pablo Diocesan Catholic Schools System

Diocese of San Pablo

Liceo de San Pablo
M. Paulino St., San Pablo City
Tel. No. (049) 562-3808

Learning Module
ENTREPRENEURSHIP
Quarter 1/Week 3

The Marketing Plan

Mrs. Maureen V. Sanchez

Senior High School Teacher
SENIOR HIGH SCHOOL – ACCOUNTANCY, BUSINESS AND MANAGEMENT (ABM)
SPECIALIZED SUBJECT

Content Standard:

The learner demonstrates understanding of environment and market in one’s locality/town.

Performance Standard:

The learner independently creates a business vicinity map reflective of potential market in
one’s locality/town

Most Essential Learning Competencies:

 Recognize the importance of marketing mix in the development of marketing strategy
 Describe the Marketing Mix (7P’s) in relation to the business opportunity
viz-ẚ-vis
Product;
Place;
Price;
Promotion;
People;
Packaging and
Positioning
 Develop a brand Name

Objectives:
 Describe the unique selling proposition and value proposition that differentiates one’s
product/service from existing products/services.
 Determine who the customers are.
a. Target market
b. Customer Requirements
c. Market Size
 Validate customer-related concerns through the following
a. Interview
b. Focus group discussion
c. Observation
d. Survey
 Describe the marketing mix (7Ps) in relation to the business opportunity and vice versa.
 Develop a brand name.
 After the comprehensive processes of seeking, screening, and seizing opportunity, it is
now time for the entrepreneur to focus on the chosen business and dig deep. Entrepreneurs must
write a business plan.

What is Business Plan?

A business plan is a comprehensive paper that details the situation analysis, objectives,
strategies and tactics, and how to monitor and control the enterprise.
This module will let you understand and identify what makes a product or service stand
out from the competitors through defining the unique selling proposition and value proposition
of the product or service.

Value Proposition and Unique Selling Proposition

Before focusing on the topics of vale proposition and unique selling proposition, you must
first know the marketing process.

What is Marketing Process?

In a nutshell, marketing is all about knowing the customers. Therefore, the marketing
process starts with identifying the customers’ needs where you are tasked to create a meaningful
value proposition. Next, you study what the customers want or desire for you to build a unique
selling proposition. From there, it is imperative to identify the most strategic market or group to
tap.

Value Proposition – (VP) simply states why a customer should buy a certain product or service.
Customers are very specific when it comes to their needs and their desired benefits, so the value
proposition should cater to those particular needs. The entrepreneur should bear in mind that a
value proposition has to be direct in addressing the problems of the customers, should have
quantifiable benefits, and should differentiate itself from the competitors.

The following are some tips for the entrepreneur on how to create an effective value
proposition to the target customers:
 Prepare a situation analysis that details the problem(s) of the customers.
 Make your value proposition straight to the point, simple, and specific; in short, there
should be no complications. Your value proposition has to target your major objective.
 Highlight the value of your product or service so that customers will easily get what
benefits you can provide.
 Adapt to the language of your market. Ensure that your target market understands clearly
what you are trying to say and avoid putting unnecessary and inexplicable phrases.
 Add credibility-enhancing elements such as actual testimonials from customers, partners,
and other stakeholders, putting specific assurance elements and social acceptability
metrics found in social media or press materials. Several quality management
certifications, such as ISO seal, add more credibility to the product or service that you’re
trying to sell.
 Differentiate your value proposition with your competitors.
Unique Selling Proposition - (USP) refers to how you will sell the product or service to your
customers. It addresses the customers’ wants and desires. After you create a value proposition,
you have to figure out how to advertise or promote certain unique features of the product or
service that you’re trying to sell. You can do this in the form of product or service
characteristics, promotion strategies and tactics, distribution centers and supply chains, pricing,
physical attributes or physical evidence, human resources or human capital, and market
positioning strategies. The ability to craft and effective USP is a gauge on how well an
entrepreneur knows his or her product or service.

The following are some tips for the entrepreneur on how to create an effective selling
proposition to the target customers:
 Identify and rank the uniqueness of the product or service attribute using the 7Ps
a. Product or service
b. Place
c. Price
1. Cost-based pricing- entrepreneur must make sure that they calculate both
variable cost and fixed cost.
2. Value-based pricing – entrepreneurs must be aware of the value attached by
customers to products or service.
d. Promotion
e. People
f. Packaging
g. Process

 Be very specific
 KISS (keep it short and simple)

The first step is the identification and ranking of the uniqueness of the product or service attribute using the 7Ps of
marketing.
7Ps Product or Place Price Promotion People Packaging Process
Service
USP Retail Near a call Competitive Signage Three shifts of Semi- The only sari-
description products center, a assistants convenience sari store that
public hospital (6am-2pm, store operates 24
and a 2pm-10pm, hours a day,
construction 10pm-6am) 7days a week
site
Unique?? No No No No Yes Yes Yes
Ranking of 3 2 1
USPs

7P’s of Marketing Mix

https://www.youtube.com/watch?v=Bb-dX_0Oo_M
Know Your Customers
After the general scan and research performed during the course of preparation for the
value proposition and the unique selling proposition, it is now time to dig deep and understand
the target customers through marketing research.

Marketing research
is a comprehensive process of understanding the customers’ intricacies and the industry
they revolve in. Marketing research is one of the most critical tasks of an entrepreneur.
Therefore, no budding entrepreneur should establish a business without undergoing the
marketing research process or else business will surely fail. Marketing research aims to
scrutinize the target market, their specific requirements, and the market size where the business
operates.

Market Size
is simply the size the arena where the entrepreneur’s business will play. It is the
approximation of the number of buyers and sellers in a particular market. The entrepreneur is
required to determine the market size first to gauge the vastness or tininess of the market where
he or she intends to join.

What is the meaning of Potential Market?

Potential market Is the part of total population that has shown some level of interest in
buying the particular product or service.

For more understanding about the potential market and other related topics please read
this:
https://simplicable.com/new/market-potential

Ways or Steps to conduct a strategic Marketing Research

 Eliminate the potential market
 Eliminate the customers who are probably unlikely to buy the product or service.
 Estimate the market share

Customer Requirements
Customers are said to be the lifeblood of the business. These are people who buy the
products or avail the services of the entrepreneur. Their thoughts, feelings, and experiences shape
the decisions of the business. Thus, the phrase “the customer is always right” is a mantra that
most successful entrepreneurs follow. Customer requirements are specific features and
characteristics that the customers need from a product or a service. It is in these customer
requirements that business opportunities originate. Entrepreneurs must be aware of all these
requirements for them to come up with features that best suit their needs. They must know who
buys, and what, when, where, how, and most importantly, why they buy.
Primary and Secondary Target Market
Most entrepreneurs believe in the misconception that they can serve all types of customers,
or, if not, a wide range of customers. Little do they know that this thinking may lead to failure.
Entrepreneurs must focus only on customers whom they can serve beneficially because they will
be wasting resources if they will target all, or worse, target none.
The entrepreneur can tap a primary and secondary target as resources are limited during
the startup stage. With this, the probability of success is higher as the entrepreneur can focus to
sell to the identified customers group. Market intelligence, which includes customer profiling,
drives the entrepreneur on what correct strategies and tactics to employ. This can only be
obtained through a meticulous market segmentation process. Market segmentation is the process
of grouping similar or homogeneous customers according to demographic, psychographic,
geographic (location), and behavior.

Learn how it affects and help to know the holistic and general view of the market group
that he or she is serving

Market Segmentation, Targeting and Positioning

https://www.youtube.com/watch?v=0srjdRDh99Y

Demographic
Demographic segmentation, also called socioeconomic segmentation is the process of
grouping customers according to relevant socioeconomic variables for the business venture.
These variables include income range and social class, occupation, gender and age, religion,
and ethnicity. Demographic data can usually be derived from public documents or the internet,
thereby giving the entrepreneur an easier task of collecting data.
 Income range and social class – important factors for the entrepreneur to consider
because these represent the purchasing power of the market.
 Occupation – these should also be considered not just to determine the customers’
income but also their daily routine where goods and services can be properly positioned.
 Gender and age group – these are data that must be mined because the life cycle of
customers and their gender influence their buying behavior.
Examples:
Sex and Age Group Potential Product or Service Demand

Male teenagers (13-19) Products: trendy clothes, rubber shoes, soft drinks,
chips, prepaid cellphone load, sport apparel
Services: cool hangout places, gyms, barber shops
Single females (20-30) Products: beauty products, bags, clothes, perfumes,
magazines, shoes
Services: spa, beauty clinics, gyms, beauty salons,
coffee shops, movie houses
Married couples with kids (30-50) Products: food and grocery items, diapers, milk
products, baby clothes
Services: theaters, babysitters, theme parks, travel
packages
Senior citizens (60 onwards) Products: fruits and vegetables, hair dye, medicines
Services: travel packages, health services
  Religion and ethnicity – should be taken to account because these affect the way they buy
products or avail services. The entrepreneur should include demographic items that he or
she thinks are relevant to the chosen business so that he can accurately align worthwhile
products or services to the customers.

Psychographic
Psychographic segmentation is a process of grouping customers according to their
perceptions, way of life, motivations, and inclinations. Perception is a process wherein an
individual receives external stimuli using the five senses of hearing, seeing, touching, smelling,
and tasting. A product or service can be perceived differently by different people. The
customers’ way of life will give an entrepreneur an overview of what products or services can
best suit the problems of the customers that happening on a daily basis. A person’s motivation
can be either physiological or psychological. Physiological motivation involve the needs of the
person, they seek to avoid pain and give pleasure. Psychological motivation involve customer’s
preferences.
Motivations are also affected by their aspirations and deprivation. Aspirations are what
the customers want to achieve (e.g., inner peace, financial stability, work-life balance).
Deprivation involves the customer’s recognition of certain voids to fill (e.g., lack of financial
security, lack of love, lack of knowledge).
Customers’ inclination involve preferring one product over another as a result of gaining a
refreshing experience when using the product, possibly due to the product’s unique features or
due to it giving more value than other products.

Geographic
Geographic segmentation is simply grouping customers according to their location. This is
critical in the analysis of the target market as this encompasses the cultures, beliefs, preferences,
politics, and lifestyle of a certain geography. Geographic segmentation can be as small as a
street, a village, or a barangay. It can be based on municipality, city, province, or region. It can
be as big as a country or continent depending on the entrepreneur’s business objectives.

Behavioral
Behavioral segmentation is the process of grouping the customers according to their
actions. These behaviors are instigated by occasions, desired benefits, loyalty, and usage of
products or availment of services.
Occasions drastically affect the customers’ buying behavior. Using customers’ desired
benefits in behavioral segmentation is efficient because the entrepreneur determines the exact
needs of the customers and offer the most suited product or services for them.
Loyalty is the result of maintaining satisfied customers. The goal of every entrepreneur is
to inform, persuade, and remind customers to buy the product or avail of the service consistently.
Therefore, behavioral segmentation through loyalty is a major key result area of the entrepreneur
as it is more expensive to sell to new customers than to maintain customers. Loyalty programs
and rewards separate loyal customers from the new ones.
Usage of products or availment of service is also a behavior segmentation factor that
describes to the entrepreneur how often a product is being used or the service being availed.
Therefore, he or she can group customers as light users, medium users, or heavy users.
 Although segmentation is a strategic and an efficient way of classifying and grouping
customers, there is also a term in marketing called market aggregation. Market aggregation
happens when an entrepreneur wants to target a broader market as possible because the product
or service that the business offers is suited for an undifferentiated market such as fruits,
vegetables, rice, water, and bread, as well as services such as haircut, plumbing, or
transportation.

Talking to Your Customers

Marketing research will not be complete without talking directly to the target customers.
It is good to estimate numbers such as market size, market share, and other general market
assumptions, but the best way to fully understand the customers is to ask them about their
specific thoughts and desires. Conducting marketing research in a methodical way will bring the
entrepreneur a substantial bunch of relevant ideas that can be used to effectively run the business.
A marketing research should first have a solid objective, which states the research’s purpose.
Next is to analyze proper timing for research execution. This is important because the
entrepreneur will be able to get maximum results when he or she identifies the respondent’s
answering pace.
Last is to establish a market research design that will effectively implement the steps
mentioned. Depending on the objective, responses are either qualitative or quantitative.
Qualitative research includes identifying the written or spoken opinions of customers, whereas
Quantitative research involves analyzing the customers’ preferences by using relevant statistics.

Qualitative and Quantitative Research

Understanding between the two…..

https://www.youtube.com/watch?v=ET4c7hiRgbM

Name: _____________________________________ Date:__________________

Grade/Section: ______________________________

Activity/Assessment 1

1. Why is it important to define the target market when preparing a market plans? Explain.
2. What is the difference between cost-based pricing and value-based pricing? which
pricing scheme is more advantageous for the entrepreneur? explain your answer.
Common Methods of Collecting Data from Target Customers

 The Interview – one of the most reliable and credible ways of getting relevant
information from the target customers. It is a face-to-face contact between the
researcher/entrepreneur and a respondent where the researcher asks pertinent questions
that will give him significant pieces of information about the problem that he will solve.
The interview is also helpful even when the business has already started because the
customers’ feedback provide the entrepreneur a glimpse of what the customers think
about the business.

Types of Interview

1. Unstructured Interview – an informal type of interview and does not follow a specific set of
question. The researcher usually records the conversation, reviews it, and summarizes the
findings. The unstructured interview produces qualitative data.

2. Structured Interview – employs a specific set of questions and produces quantitative data. A
prearrange questionnaire with specific questions usually answerable by yes or no, forced ranking,
multiple choice, or choose the best will be answered by the respondents.

Challenges in an Interview
1. Setting up an appointment with an interviewee.
2. Respondents indifference to how they share their opinions.
3. Getting unbiased answers from the respondents.

 The Focus Group Discussion – commonly used by market researchers to capture

qualitative results from target customers. It is a process of mining customer and
noncustomer experience and insights about a specific product or service. Through an
FGD, the researcher will be able to generate relevant concerns and issues of customers
such as their views and inclinations toward a product or service, perception or
impressions on new product or service models, innovations of the older product or
service, inventive concepts on promotions, price, elasticity, and initial feedback of
customers on marketing tactics and advertisements.
The FGD session must be recorded by either audio or video, so that the researcher
can digest the session and pick the most relevant insights from the participants.
The FGD is also a preparatory step in crafting a quantitative survey because this
method generates background information or hypotheses for a new product or service. As
compared to the interview.

The FGD has some advantages as follows:

1. the researcher can get combined insights from the participants.
2. the participants are more spontaneous and enthusiastic because of the interaction with co-
participants, thereby sharing more insights to the researcher.
3. it can be observed by various spectators.
It also has some disadvantages as follows:
1. it obtains only qualitative data.
2. examination of the focus group session is difficult and requires more time.
3. there are potentially biased answer from the participants because they will encounter peer
pressure. There may also be instances that one or two among the eight participants will dominate
the discussion, resulting in biased responses.

 Observation - is one of the preferred and practical methods of generating ideas because
the researcher documents the behavioral patterns of people or of objects of events without
necessarily requiring them to participate in the research project. One method is to simply
watch and examine the customers’ behavior in their raw state without biases and
pretentions, thereby providing more accurate results and faster process.
Observation is reliable because it allows the researcher to see the real and actual
behavior of customers rather than hearing what they need to say. Therefore, it is not as
pushy as the interview and the FGD. Observation can be perform by either a human or a
machine observer. Human observer records information as it occurs or as it happens
using his or her five senses. The machine observer employs an equipment to record the
information needed.

 Traditional and Online Survey – it is the process of getting answers from a sample of
respondents derived from a particular population. Depending on the subjects of the
survey, the respondents will be given a questionnaire asking their awareness level, their
profile, their preferences, and behaviors. These questionnaires can be distributed and
answered verbally, by writing, or through the Internet. A survey is very simple and
practical to run because it requires preparation of predetermined questions answerable by
definite responses using equitable scales.

In preparing for the survey, the researcher must identify what sampling techniques to follow, the
number of respondents to be surveyed, and the blueprint of the questionnaire.

1. Sampling techniques – a sample is a percentage of a specific population chosen by the

researcher to generally represents the whole population. When the entire population is relatively
small, the researcher may choose to include the whole population in the research project. This
method is called Census.

Probability sampling – a technique wherein samples are given equitable chances or nonzero
chances of being selected from a population.

Nonprobability sampling – does not give the samples equal chances of being selected because
samples are instead selected according to their accessibility or personal choice of the researcher.

2. Sample size – the researcher must be able to calculate first the appropriate sample size in
conducting the survey; otherwise, if the sample size is too large, he or she will waste his or her
capital and time, whereas a sample size that is too small will lead to imprecise results. Therefore,
the sample size must be the right one.

3. Questionnaire blueprint – here are some tips on how to create a blueprint for the
questionnaire:

a. Be specific and direct with the questions and the answer required.
b. Be flexible with the respondents’ convenient way of answering the questionnaires.
c. Ensure that each question is necessary and not repetitive.
d. Always put yourself in the shoes of your respondents.
e. Make sure that the questions are arranged in a coherent order that will lead to the answers
required,
f. The questionnaire should look professional, be divided into strategic parts, and be properly
numbered.

The Marketing Mix: The 7Ps of Marketing

The marketing mix is a widely accepted strategic marketing tool that combines the original
4Ps (product, place, price, promotion) with the additional 3Ps- people, packaging, and process-
in formulating marketing tactics for a product or service. These 7Ps are employed until the
entrepreneur finds the right combination that will most effectively serve the customer’s needs
and wants and at the same time achieve the profitability objective.
Entrepreneurs must use the 7Ps model to do the following: conduct a situation analysis;
set objectives; conduct a strength, weakness, opportunity, and threat (SWOT) or competitive
analysis; and ultimately come up with marketing strategies and tactics. A challenge to a budding
entrepreneur is to ask the following key questions at the onset:

 Product – What product or service is the most appropriate for the opportunity, and why
will customers buy or avail them.
 Place – What location is best suited for the business where there are more potential
customers? Can they conveniently transact on-site or online? How is the process of
distribution of products or performance of services?
 Price – What is the most appropriate price, and what pricing strategies will be used for
target customers.
 Promotion – What is the most effective advertisement or combination of advertisements,
and which advertising tool should be used to drive awareness and increase sales?
 People – What type of people need to be hired? What are the basic skills needed for the
job? What leadership style will be applied by the entrepreneur?
 Packaging – What is the best packaging for the product that is attractive enough to
customers and cost efficient at the same time? What physical evidence does the
entrepreneur need to set up so as to sell the service?
 Processing – What is the most compelling feature of the product or the business that will
make a difference in the lives of the customers? What sets the product or service from the
rest?
Product
A product is any physical good, service, or idea that is created by an entrepreneur or an
innovator in serving the needs of the customers and addressing their existing problems. The
three-level concept of products or services summarizes the reasons that a customer decides to
buy a product or avail of a service.

level 1 – Core Benefits of the Product or Service

level 2 – Physical Characteristics of the Product or Service
level 3 – Augmented Benefits of a Product or Service

Place
The place refers to a location or the medium of transaction. The place also covers the
product distribution and the whole business logistics. The logistic side for the products should
cover production, ordering and receiving raw materials or finished goods from the suppliers,
storage, reorder point, and transportation system. The logistic side for services covers the
physical evidence or service scape, service providers, and service delivery process, as well as
policies and procedures of the business.

Price
Price is the peso value that the entrepreneur assigns to a certain product or services after
considering its costs, competition, objectives, positioning, and target market. It is the only P in
7Ps that generates revenue for the business. Here are the most common pricing strategies:

1. Bundling
2. Penetration pricing
3. Skimming
4. Competitive pricing
5. Product line pricing
6. Psychological pricing
7. Premium pricing
8. Optional pricing
9. Cost-based pricing
10. Cost plus pricing

The entrepreneur must follow these general pricing guidelines to make the business
sustainable and thriving:
1. do not price the product or service below its cost.
2. monitor competitors’ prices, and ensure that your prices are at par with them unless the
product or service is really way superior to the competitors.
3. align prices with the other 6Ps (product, place, promotion, people, packaging, and processing)
4. implement price strategies that are relevant to your market segment. For example
“tingi”(sachet) pricing is more appropriate in the grassroots locality or barangay.
5. align prices with your business objectives.
Promotion
Promotion involves presenting the products or services to the public and how these can
address the public’s needs, wants, problems, or desires. The main goal of promotion is to gain
attention. A strong integrated marketing communication plan (IMC) should be devised to deliver
the compelling messages effectively. Key marketing promotion can be the following:
1. value proposition or unique selling proposition of the product or service
2. product or service image
3. business image
4 business values and philosophy.
The entrepreneur can choose one or combination of the following promotional tools:
1. advertising
2. selling
3. sales promotion
4. public relations

People
People is one of the three additional Ps in the marketing mix. In today’s marketing arena,
people play a vital role in servicing customers even though the entrepreneur sells only physical
goods. With the influx of various competing products and services, one of the major
differentiators is how people or employees make a difference in the lives of the customers. It is
not just about the quality of products anymore, but how employee serve customers. Employees
have become a major influence in the customer’s buying behavior.

Packaging
Another addition in the 7Ps is packaging. Packaging is how the product or service is
presented to customers. It is the overall identification ( look and feel ) of the product or service.
This will determine the uniqueness of the product from the competitors. This is the first element
that customers see because they don’t know what’s inside yet. Aside from this, packaging
preserves the shelf life of the product or service. Because of the clamor in ensuring
environmental protection and preservation, many businesses begin to make packages out of
environment-friendly materials not just in products but also in services.
As one of the additional Ps in the marketing mix, packaging plays a vital role in
persuading a customer to try a product or avail of a service based on what he or she has seen. In
fact, packaging sometimes matters more than the product or service itself. Indeed, it must please
the eye of the beholder.

Process
Process is the last addition in the marketing mix as marketers began to realize the
importance of the internal and external operations of the business to serve customer better.
Process is defined as a step-by-step procedure or activity workflow that the entrepreneur or
employees follow to effectively and efficiently serve customers. Its components include input,
throughput, and output. The international process includes the back-office operations
(preprocessing, processing, and postprocessing), wherein employees or machines process
customers’ request without necessarily being seen by the customer. The external process
includes the actual servicing where the customers are part of the process.
Activity/Assessment

Go Online…

1. Choose a Philippine social business enterprise from the Internet that aims to solve a
compelling societal problem.
2. Review its Web site and its marketing initiatives.
3. If you were the marketing manager of that social business enterprise, what will your
marketing campaign look like using the marketing mix and brand management concepts?
Explain your rationale with the strategies devised. Submit this in an essay format.

Fundamental of Brand Management

A brand refers to the identity of a company, of a product, of a service, or of an
entrepreneur himself or herself. A brand is a symbol of promise or assurance from the
entrepreneur that what it purports to the customers will happen. A good brand not just entices
customers to try the product but makes them loyal to it. Moreover, the brand sets the image of
the business to the public.
Brand Management – is the supervision of the tangible and intangible elements of a brand. The
tangible elements include the product itself, its packaging, its price, and its location. The
intangible elements, on the other hand , include the perception and relationship of the customers
with the brand.

Branding – the process of integrating the strategies formed from the marketing mix to give an
identity to the product or service.

Goals of branding:
1. establishing the target customers that the business is reliable and trustworthy and that the
product or service is superior solution to their current problem.
2. differentiating with competitors; and
3. driving customer loyalty and retention.

As an important element of a brand, a brand name is a major differentiator of the entrepreneur

against the competitors. To be different and catchy, a brand name must possess the following
characteristics:
 Unique
 Extendable
 Easy to remember
 Can describe the benefits of the product or service
 Can be converted to other dialects or languages in case the entrepreneur expands to other
territories
 Can described a product category
 Can described concrete qualities
 Positive and inspiring
Reference : ENTREPRENEURSHIP SECOND EDITION Diwa Publishing Pages 42-78
Youtube Videos

Name _____________________________ Date__________________

Grade and Section __________________

Activity/Assessment

Name the top brand that first comes to mind when these generic products or services are
mentioned. Why do you think they are the top-of-mind brands?

1. Toothpaste 11. Soft drinks

2. Soap 12. Fast food restaurant

3. Coffee 13. Convenience store

4. Milk 14. Potato chips

5. Car 15. Cookie

6. Rubber shoes 16. Chocolate

7. Mall 17. Refrigerator

8. Spa 18. Television

9. Beauty salon 19. TV station

10. University 20. Smartphone

ESSENTIAL LEARNING

In this module, you have understood the importance of marketing as a critical success in
starting a business venture. A strategic marketing plan aids an entrepreneur to select the
appropriate target market, understand customer deeper, and communicate with them in a channel
and language that they will easily understand.
You learned that having a value proposition and unique selling proposition in mandatory for
an entrepreneur to differentiate the business with the competitors and solve their problems. You
also learned the process of market segmentation and its importance in targeting a specific group
of customers, rather than targeting everyone not just to save on cost but also to suit the
communication to the right market.
 Basic marketing research was also introduced to you, so you would understand the procedures
and techniques on how to get to know the customers deeper such as their inclinations and
sentiments. After knowing the customer, the marketing mix or 7Ps was also introduced so you
will be able to strategically position your product or service using these primary elements of
marketing. The challenge is for the entrepreneur to use and combine these elements and make a
difference in the arena that the business belongs.
The fundamental brands of management were also introduced to you so that you will be
acquainted on how to create, manage, and sustain a brand. A brand symbolizes the integrity and
credibility of a business. These marketing tools are essential in spearheading and managing a
business enterprise. These tools strengthen the opportunity derived from the seeking, screening,
and seizing processes undergone during the earlier phase of entrepreneurship.