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TMLHT-ENT - Week 7-DAY2
TMLHT-ENT - Week 7-DAY2
Department of Education
Region VII
Division of Cebu Province
Oslob National High School
IV. References:
Reference book (Entrepreneurship in Philippine Setting) Lesson 3, Chapter 5, pages 184-187
V. Procedure:
A. Readings (Day 2)
The term place in the marketing mix simply refers to the place where the target consumers are. The entrepreneur must
establish his/her business or product in the most strategic place or location. The term strategic place, however, is relative.
What may be considered strategic for a convenience store may not be considered strategic for a bookstore. Most
entrepreneurs equate strategic place with a location or site where there are plenty of people during a particular time. This
can be misleading since the presence of many people does not exactly assure the presence of target consumers.
The basic entrepreneurial concept relative to place in the marketing mix is very simple and straightforward, that is, if you
intend to engage in selling school supplies, it would be appropriate to place the business near schools, colleges, or
universities where the target consumers are.
In sharp contrast a school supplies business in a seaport will be a failure although a lot of people pass by that place
every day, simply because they are not the target consumers. Thus a substantial number of non-target customers do not
actually provide any benefit to the school supplies business.
The nature of the business and the type of the product significantly determine the most appropriate place for the
business. There are businesses and types of products that require sufficient parking space for consumers. A spot in the
corner of a street does not apply to all business and products.
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.
In the marketing mix, the term “place” refers to the distribution of the product. Where does the customer buy the product? “Place”
might be a traditional brick-and-mortar store, or it could be online. Examples include:
In today’s world, the concept of “place” in the marketing mix rarely refers to a specific physical address. It takes into account the
broad range of distribution channels that make it easy for the target customer to buy.
B. EXERCISES
Exercise 1: Try to help the entrepreneur who is planning to have his school supplies business
What new distribution options are there for customers to experience his product?
Exercise 2:
Directions: Write your answer on the box provided.
1. List at least five (5) opportunities (needs/wants) that can be found in your locality.
2. From the opportunities that you have provided, think of a PLAce that will satisfy customer’s needs and wants
3. You are given 1 sample of OPPORTUNITY and 1 PLACE as your guide.
Opportunity PLACE
C. ASSESSMENT/ APPLICATION
Direction: Make a survey questionnaire that generates the information on where the customers are in terms of
target market, customer needs and market size.
Prepared by: