12

Entrepreneurship
Quarter 1 – Module 8
A. In your previous lesson, you learned that there are Promotional materials that
you can use in promoting the products.

What I Need to Know

A. Define and describe people,

B. Create a storyline;
C. List down the characteristic of the people you want to work with.

What’s New (Contextualized)

Who am I?

Directions: Create a storyline of the following situation, use two persons only
with at least 10 conversations.

1. Buying fish in the market

______________________________________________________________
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______________________________________________________________

2. Asking for a products price and its quality.

______________________________________________________________
______________________________________________________________
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______________________________________________________________
______________________________________________________________
______________________________________________________________
______________________________________________________________

3. Asking for a discount.

______________________________________________________________
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What is It

People

People are the ultimate marketing strategy. People sell and push the product. People
search the product to find the right market. People distribute, promote, price and sell
the products in the most attractive market places. People continue to please the
customers through the continuing service and product enhancements long after the
customers have bought the product. People are regular contact points between the
enterprise and its market.

The people in the marketing organization play a crucial role in the success of the
enterprise. At one end of the spectrum, they are conducting the market and consumer
research that would lead to the development of product(s) and the formulation of the
marketing strategy. At the middle of the spectrum, they are devising the marketing
plans and programs that would be translated
to the specific elements of the marketing mix.
At the other end of the spectrum, they are
contacting, reaching and convincing customer
to buy the product(s).

The marketing strategizing must be matched

by the footwork that goes into distributing and
selling the products. One without the other will
fail. If all the marketing research and planning
work does not produce the right products for
the intended customers, then it would be
extremely difficult to distribute and sell the
products. The wrong products need a
Figure 1.5
superhuman sales force with charisma
powers. The right products only need good
distribution channels and an effective sales force.

The marketing efforts of the people are organized at four levels: (1) to create customer
awareness; (2) to arouse customer interest ;(3) to educate customers as they evaluate
their buying choices ; and (4) to lose the sale and deliver products.

There is wide range of strategies for creating customer awareness and arousing their
interest.

Short but appealing messages can be aired through television and radio if the
enterprise wants to reach a large number of customers. The cost of such messages
can be quite prohibitive, however. That is why only the basic positioning message can
be aired through such media. For more functional information, the enterprise can use
print media, distribute brochures, launch promo events, write “infomercials” and rely
on the word of mouth.
For detailed product specifications, the enterprise can deploy sales people, create its
own websites, print manuals or mail letters.
To arouse the interest of the customers, the enterprise can use several people or
organizational modalities.

One modality is to outsource the people from ad agencies, events management outfits,
call center and telemarketers. A second modality is to build in-house capabilities by
hiring market researches, brand managers, sales people, public relations officers,
website with principals, distributors, dealers and industry associations.

Educating customers in their evaluation process requires the enterprise to know the
customer’s decision making process.

1. What and who are involved in the buying process?

2. Where are the customers in the buying process? Are they still
canvassing and “shopping around”? are they now focusing on the few
candidates are they seriously evaluating the company’s product?
3. What are the next steps of the customers and how can the company
facilitate their next steps? What else do the customers need to know and
what issues must be addressed by the marketer? The customer
evaluation process may follow something similar to this table.
TABLE 5.1 : CONSUMER EVALUATION PROCESS
• Comparison of * Customer who have tried the * Taste
tests
product features products before
and probable * Physical
demo
results by : * Professional evaluator’s
-window shopping guidebook in competing * Free trial
period
-internet browsing products
-brochures * Money-
back
collection and * Testimonials from credible guarantee
offer
comparison endorsers
-asking friends and
relatives * How often are others are
seen actually using the
• Word of mouth product or services
feedback

• Gut reaction

Finally, the sale must be clinched and the products delivered to the customer.
Clinching the sale demands that the product be available, accessible, adequate,
acceptable and affordable.

Availability means that the enterprise has the goods or services on hand. Accessible
means that the customers can easily get the product from their usual buying places or
the products can be conveniently delivered to them. Adequate means the product
meets the quality and delivery specifications of the customer. Acceptable means that
the customer is convinced by the selling points of the product, finds very little or no
objectionable features in the product and accepts the conditions, warranties and
amenities given by the seller. Affordable means the price and payment terms are right.

The organizational modality to educate the customers, to help them in their decision-
making process, and to clinch the sale would depend on four variables.

1. Is there need for high contact (face to face) or will low contact internet be
sufficient?
2. Is there need for high accessibility? If so, the company requires distributors,
dealers, branches and franchisees to expand their reach. Alternatively, they
need a very fast , reliable and economical delivery system.
3. How heavy or light is the transaction cost? High transaction cost products need
new competent people to sell them.
4. Does the customer need a lot of sale servicing and after-sales servicing?

What’s More(Localized)

Directions: Answer the following:

1. Give 5 names of people who are selling products that you know most.

2. Among the five, who is the best for you in terms of customer service? Why?

3. Do you think you can be like them or more than them? Why?
 What I have Learned

Let us all remember that:

A. People are the ultimate marketing strategy
B. The marketing efforts of the people are organized at four levels: (1) to create
customer awareness; (2) to arouse customer interest ;(3) to educate customers
as they evaluate their buying choices ; and (4) to lose the sale and deliver
products.
Educating customers in their evaluation process requires the enterprise to know
the customer’s decision making process.
1. What and who are involved in the buying process?
2. Where are the customers in the buying process? Are they still canvassing and
“shopping around”? are they now focusing on the few candidates are they
seriously evaluating the company’s product?
3. What are the next steps of the customers and how can the company facilitate
their next steps? What else do the customers need to know and what issues
must be addressed by the marketer? The customer evaluation process may
follow something similar to this table.

What I can do

1. If you are to recruit people for your own enterprises, what requirement you will
ask from them to be hired? Give at least 5 requirements

2. What steps will you take to ensure that the people you have in the store are
properly equipped with the knowledge, skills and personality to deal with all
sorts of customers?

3. Write the personality of a people you want to be with in establishing your own
company.

Rubrics:

Criteria Very good( 10 pts) Good(8 pts ) Fair( 5 pts )

Content All information is Lack at least 1 Lacking 2 or more
given information information
Accuracy Proper steps are With few mistakes Show a lot of
given mistakes.
concept The thought is Some thought are Thoughts are not
properly organize not organize organize.
A. In your previous lesson, you learned the importance of people in running a
business.

What I Need to Know

A. State personal experience in gift wrapping,

B. Create a logo;
C. Make a packaging of your product.

What’s New( Localized)

What suits me?

Directions: Write your personal experience on the following situation.

1. During Christmas you bought gift for party or someone special to you.
Have you experience going to a gift wrap? Where and how is there
service?
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2. You have experience receiving a gift from someone right? Share to us the
most amazing gift you receive from your special someone.

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_____________________________________________________________

3. Share your most embarrassing moment when you receive a gift from a
friend or special someone.

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 What is It

Packaging

There used to be a time

when products came
wrapped in ordinary
packaging that
emblazoned the brand
name, the main
attributes of the product, Figure 1.6
the company’s logo and
its place of business.
Packaging came in
small, medium and large sizes without much variation in the material, shape
and purpose of packaging. That is the time long gone.

Now, packaging can even be more important than the product itself, if done
imaginatively. One example is the entrepreneur who took ordinary rocks from
riverbeds and packaged them as “pet rocks”.

Today, packaging serves several important purposes, which elevate it to one

of the seven P’s of marketing.

First, packaging identifies the product, describes its features and benefits, and
complies with government rules on specifying its contents, its weight, its
chemical composition, and its potency. Packaging provides easy brand
identification for the consumers.

Second, packaging differentiates the product from its competitors and even
from its other brand offerings. For example, liquor brands differentiate their
premium scotch and brandy offerings by packaging them in ceramic bottles.

Third, packaging lengthens the lifespan, physically protects, and extends the
usefulness of the product. Vacuum-packed or aseptically-packaged products
prolong the shelf lives of many food and beverage items. High-tech packaging
protects fragile and sensitive products like crystal sculptures, laptops, precision
tools and the like.

Fourth, packaging has become an environment issue by itself. Many packages

are discarded after the contents have been taken out. This generates waste
and poses environmental hazards. Recyclability and bio-degradability are now
a major concern of packagers and consumers alike.
 Fifth, the aforementioned purposes of packaging have increased the cost of
packaging and, therefore, the price of the product. To counteract this, the
packaging must possess its own value proposition for the costumers, as well
as for the enterprise. For the costumers they, may put some premium on
environment-friendly packaging. Customers may even be able to convert the
packaging into money if the packaging were exchangeable for cash. Some
packaging are so beautiful, they can create their own value as collectibles.

Packaging does not refer only to the wrapper or container of the product. It can
mean the bundle of products or services that are put together to attract and
delight costumers. It can also mean the terms and conditions attached to the
sale or after-sale servicing of the product.

What’s More
Directions: Create a logo of your product. State as well the location of it.
Paste the logo in the packaging of your product.

Rubrics:
Criteria Very good( 10 pts) Good(8 pts ) Fair( 5 pts )
Presentation Designs and colour Designs and colour Less designs and
combination are are good color
very nice
cleanliness & No With few Show a lot of
Accuracy erasure/mistakes erasure/mistakes mistakes.
and everything is
clear
concept The thought is Some thought are Thoughts are not
properly organize not organize organize.
What I have Learned
How important is packaging?

How does packaging affect the sales of your product?

What I can Do(Contextualized )

Individual Activity.
If you have your own business idea or prototype, think of a unique way of packaging
it. To help you out, you may want to consider any or a combination of the five purposes
of packaging mentioned in this chapter.

Be resourceful to find ordinary materials in your house or classroom to be put together

as a unique packaging for the chosen product. This can be a scrap wrapper,
cardboard, colored papers, foil, ribbons trimming, etc. (This duration by which the
group is allowed to finish it prototype will be dependent on the time given for the class
session.) Be prepared for a show-and-tell session in the class.

For a more exciting approach to this challenge, others in the class may also participate.
Have a set of judges decide which one’s the most unique packaging based on given
criteria (i.e., Uniqueness 50%; Creativity 20%; Resourceful 20%; Functionality 10%).
A. In your previous lesson, you learned the importance of packaging. The last six
topics that you have learned is very important in taking the last part of 7P’s.

What I need to Know

A. Determine the position of the product in the quadrant,

B. Compare the strength and weakness of a given product;
C. List down at least 3 competitors of your product and write their strength and
weakness.

What’s New

What is your position?

Directions: Do the following: Place your answer on the space provided. You
may cut pictures or paste it.

1. Using the graph below, determine the store located in

A. Sporty & Economy B. Sporty & Luxury
C. Luxury & Family D. Economy & Family

2. State how are they being group..

 What is It

Positioning

Positioning, in the context of a

marketing battle plan, has
three overlapping
perspectives.

First, positioning has an

enterprise perspective. The
enterprise scans the market Figure 1.7
environment and decides to
position itself with products that specially address the needs of a chosen target
market.

Second, positioning has a competitive perspective. The enterprise has to

differentiate and distinguish itself from its competitors.

Third, positioning takes the costumers perspective. Positioning is the way the
costumers perceive the enterprise and its products or services in their minds.
The stronger the overlap is in these three perspectives, the more defined is the
positioning of an enterprise in the marketplace.

Enterprises can establish their positioning either by starting with their own
product creations or with their costumers’ outcome expectations. The
competitors will always be part of the positioning equation, whether the
enterprise starts with the product or the costumer perspective. After all,
marketing warfare takes place in a competitive arena.

The competitive landscape of the enterprise, relative to its market, can be

clearly mapped out by laying out both the latitudinal and longitudinal market
dimensions.

Latitude lays out what is important to the different costumer segments from their
differing points of view. Certain costumers may claim that what is important to
them are the quality features of durability and functionality. Other costumers
may be looking who do not have the purchasing power to afford any of the
above quality definitions. They would by lower-priced with lesser quality.

Longitude in the marketing map represents the product features and attributes
of competitors in the marketplace. Most competitors would be offering product
features, which the major costumer segments want to buy. A few will focus on
niche costumers who are not the mainstream. The latitudinal and longitudinal
dimensions will draw the parameters of the map, locating both the costumers
and the competing enterprises in their respective positioning.

In determining its positioning, the enterprise should be mindful of the main value
proposition (MVP) to its costumer’s, in juxtaposition to its competitors.
 In determining this MVP, the enterprise must assess its products from the
costumers’ viewpoint. It must evaluate the other six P’s of marketing to find out
if they complement and reinforce one another. Price might be out of line with
the promotion message, or the people chosen might be the wrong message
carriers. Each of the P’s marketing must communicate something with
costumer. Are they communicating the same thing or are they at cross
purposes?

The enterprise should carefully assess whether its chosen MVP is the one most
right after by its targeted market segment.

Some enterprises have discovered that their intended costumers are not the
ones laying their products but some other segments. Their choice, then, is to
either reposition their products towards the unintended costumers, or to
reinvent their products to fit their pretended costumers. Sometimes all that is
necessary is a change of message but, most of a time, what is required is an
overhaul of the marketing mix.

To establish the positioning of its various products in the marketplace, the

enterprise endeavours to build the brand of each product’s. Two is to avoid a
commodity image for the product. Three is to fill a space in the consumer’s mind
that would prevent other product form occupying the same space.

Once a space gets filled in the consumer’s mind, it is very hard to change. We
all remember the first man on the moon, the first person to circumnavigate the
world and the first murderer, but we do not remember the second. Number two
will only remembered if it makes a big thing out of being number two like Avis.
People know that as a number two our rental company. Avis “tries harder.”

Branding and brand quality development should go hand-and-hand with

positioning. Volvo stresses its safety brands positioning by crashing their test
cars into brick walls to dramatize the minimal effect on to owner-driver.

Powerful brands have become the generic name for their products categories
like Kleenex, Band-Aid, Xerox and Scotch Tape. It is hard to dislodge these
brands from their permanent positioning in the marketplace. These have also
been able to extend their good image to their other products lines. Johnson and
Johnson’s, Procter and Gamble, Pfizer, Ayala and SM have been able to
leverage their enterprise brand image to all of their product lines. These
enterprises have assumed the reputation and image as top calibre
establishments whose magic wand can transform new products into instant
successes.

What’s More(Contextualized)

Directions: Compare the following according to their strengths and

weaknesses.

1. Coke soft drink vs. Pepsi soft drink

 Soft drink products Strength Weakness

Coke

Pepsi

2. Huawei phone Vs. VIVo phone

Phone Products Strength Weakness

Huawei

VIVo

What I have Learned

A. How important is positioning of your product in the market?

B. Do you think knowing the strength and weaknesses of your competitor will help
you in establishing your business?
What I can Do

Directions: Choose at least 3 competitors of your products. Determine your strengths

and weaknesses and Compare it to their strengths and weaknesses as well. Give at
least 3 strength and 3 weaknesses.

Products Strength Weakness

Your Product
A. In your previous lesson, you learned the importance of 7P’s in establishing your
own business. Now, in this lesson you will create a brand name of your
products.

What I Need to Know

A. Explain what is branding or brand;

B. Discuss the different parts of a brand;
C. Discuss the importance of having a brand name; and
D. Compare among others how a brand name is being constructed

What’s New (Localized)

What is my brand?

Directions: Answer the following questions.

1. What comes to your mind when you hear the word “toothpaste” how about
shampoo?

2. As a future entrepreneur, picture your product without a brand name,

displayed on the shelves of various malls and groceries competing with other
products with brand names? How do you think will your product fare in sales?

3. Do you think consumer will notice or remember your product without a brand
name?
What is It

Brand Name

Almost everything in the market

today is already branded. The brand
may have started from the time the
product is produced, planted, or
harvested. Just simply imagine that
consumers already have wide
selections of branded rice.
Consumers can select from
Banaybanay rice, 7 tonner rice,
Dinorado rice, Masipag rice,
Milagrosa rice, organic rice, and
even NFA rice.

Consumer Marketing Strategies

Figure 1.8
Even with tomatoes there is already a wide range of selection for the consumers
to choose from. This farm harvest has been packed and labelled as Del Monte
tomatoes, Diamante tomatoes, cherry tomatoes, or simply native tomatoes.
Durian comes as Puyat durian, Arancillo durian, Memer durian, or simply native
durian. Mangoes, bananas, and almost all kinds of agricultural products are
being sold with brand name as well.

Brand names influence the buying decision of the consumers. That is why the
entrepreneur most define a clear and effective branding strategy, so that the
product remains competitive in the market. The basic concept in effective and
competitive branding strategy is to “Build a strong brand.”

Colgate, Bear Brand, Coke, Pepsi, San Miguel Beer, Downy, Tide, Safeguard,
Toyota, Mitsubishi, Ateneo de Davao, University of Immaculate Conception,
and University of Mindanao have proven to be strong brands for many years
now.
Now, what is the best brand name for a product?
The term “best” indicates that the brand name can easily attract the attention
of the target consumers, influence them, and lead them to buy the product.
Thought there are no stranded procedures in the formulation of the best brand
name, the following approaches may be of great help:

1. Review carefully the attributes, benefits, and values of the product.

2. Evaluate the consumers in the target market.
3. Analyse the proposed marketing strategies.
4. List the possible brand names by considering the first three steps.
5. Limit the brand name to one or two words.
6. Check the internet if the chosen brand name already exists.
Branding Strategy

Branding Strategy starts with the formulation of a brand name for the first
single
product that the business intends to make. The situation becomes more
complicated when the business stars to offer an additional product. Thought
most entrepreneurial endeavours engaged in manufacturing start with a single
product, they eventually add a new product line in response to new
entrepreneurial opportunities. When this happens, will all the products carry one
brand name or will each product carry a distinct and separate brand name?

For example, a business that is engaged in the production of machinery starts

producing agricultural machineries and provides them with a brand name. After
some time it also produce poultry feeds processing machines and later moves
on to the production of printing machines. What will be the brand name of the
poultry feeds processing machines and the printing machines?

The Concepts of Needs, Wants, and Branding

Businesses existing in situations like this adopt two branding strategies, namely
the umbrella brand approach and house brand approach.

Whatever branding strategies is deemed appropriate to position the products in

the minds of the consumers, the entrepreneur must ensure the proper
management of the brand or brand name. when a new product with a brand
name is introduced to the target consumers, the primary of entrepreneur is to
open the awareness level of the consumers. The most appropriate promotion
strategy is to gradually make a knowledgeable of the product and its value and
to help build their loyalty to the brand.

Umbrella Brand Approach

In the umbrella brand approach of branding names, all products of the

business carry the same brand name. the various products lines are not
differentiated from each other from the perspective of the brand name.

For example, Honda motors produces motorcycles, cars, agricultural machines,

grass cutters, and lawn mowers. Each product lines has different types and
models. For motorcycles there are the Honda TMX series, Honda Wave series,
Honda XR series, and Honda Scooter. For the cars, there are Honda Odyssey,
Honda Accord, Honda Civic, Honda CR-V, and Honda VTEC. All the products
are marked Honda Motors, the umbrella brand.

The umbrella brand strategy helps the business introduce new product lines
more easily and receive a similar favourable response from the consumers who
appreciated the company’s other products. However, in case one of the
products poorly by the consumers for any reason, the other products with the
same brand will likewise be affected. It may be difficult to introduce a new
product once the brand name has been damage already.

House Brand Approach

In the house brand approach, every product of the same business has a
separate brand name that distinguishes it from the rest of the company’s
products. For example, Procter & Gamble Philippines, Inc. has applied the
house brand approach in providing house names to its various product lines
such as Joy, Tide, Downy, Pampers, Pantene, Head & Shoulder, Rejoice,
Vicks, Max Factor, Safeguard, Ariel, Whisper, Oral B, among others.

In the house brand approach, the problems and negative perception about one
product will not affect the others products. The consumers may not even be
aware that the different products are produced by the same business.
Nevertheless, introducing each product to the target consumers becomes more
costly on the part of the business. Imagine the cost involved in advertising each
product in various media with national coverage.

Consumer Marketing Strategy

The level or degree of the consumers’ perceptions or reactions to a brand is

technically known as brand quality. When the level is high or when the
perception of the consumers is favourable to the brand equity is considered
positive. This indicates that the product has a strong brand name in the market.
The reverse scenario happens when the brand equity is considered negative.
Entrepreneurial ventures with high positive brand equity are capitalizing or
leveraging on such concept. This branding strategy is usual called brand
extension strategy.

Generally there are two approaches in branding extensions strategies, namely,

line extension approach and product approach.

In the line extension approach, the existing products has been modified or
altered resulting in a new product or more products without eliminating the
original product. The new additional product must be within the same category.

The change modification may be in the form of flavour, ingredients, mechanical

parts, size, or usage. Usually, it is due to existence of a new promising target
market that the existing product line is modified.

For example, the Bear Brand milk products now include the following variation:
sweetened condensed filled milk, sterilized milk, powdered milk, full cream
evaporated milk, pasteurized milk, and low-fat milk.

The carbonated and noncarbonated drinks of Pepsi Cola include the following
brand names: Pepsi, Mirinda, 7 Up, Mountain Dew, Mug Root Beer, Tropicana,
Lipton, Gatorade, among others.
Since the difference varieties of the product line are definitely competing
against each other in the market, the entrepreneur must make sure that each
products offers considerable benefits to the target consumers.

Product Extension Approach

In the product extension approach, a new product carries the brand name in
a new category. The new or added product appears to be totally different from
the old or existing product line.

For example, General Electric Company, popularly known as GE, provides one
brand name to all of its products under the different categories, such as
refrigerators, freezers, ranges, ovens, dishwashers, air considers, washers and
dryers, housewares, industrial products, and light and power products. Each
categories offers various models of products.

What’s More

Directions: Do the following tasks:

A. Differentiate needs from wants.

B. Enumerate and explain the five categories or levels of needs based on
Maslow’s hierarchy of needs. Discuss the importance of this theory from
the perspective entrepreneurship.
C. Discuss the importance of branding in the practice of entrepreneurship.
D. Identify some branding strategies used by large businesses in the
Philippines
E. List down on a clean bond paper your present needs and wants. See the
example below.

Needs Level of needs Wants Brand of the

products( If
applicable)
Food Physiological Spaghetti Shakeys
Education Security Private school Ateneo De
cebu

What I have Learned

1. Product and services are created because of human needs and wants. The
term needs simply refers to the things that the person must have in order to
survive. The term wants refers to the things that the person must have in
order to be satisfied.

2. The entrepreneur may adopt the following branding strategies:

a. Umbrella brand approach
b. House brand approach
 c. Line extension approach
d. Product extension approach

What I can Do

Directions: Write True if the statement is correct. Otherwise write False and
state your reason briefly.

__________ 1. The satisfaction of human wants makes the human person survive.

__________ 2. The satisfaction of human needs provides pleasure and comfort to

the human person.

__________ 3. Human needs are limited to a total of five needs.

__________ 4. People do not have the same level of needs.

__________ 5. The term of brand refers to the name of the product only.

__________ 6. The brand name and the product itself are two important concepts in
the practice of entrepreneurship.

__________ 7. In the aspect of advertising cost, house brand approach is preferable

than the umbrella approach.

__________ 8. When all products of the entrepreneurial venture carry on brand name,
the approach adopted is umbrella brand approach.

__________ 9. Line extension approach uses the same brand name for the different
variations of a product line.

__________ 10. Overextended brand names may create confusion among the
costumers.
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https://marketingmix.co.uk/place/

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https://www.moreinstore.ca/marketing-moxie-blog/we-need-to-talk-more-about-price

Ajeet Mishra(July 23, 2015). Why is Promotion Importance for Business?

https://blog.resellerclub.com/why-is-promotion-importance-for-a-business/

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https://analytica.quaestiagroup.com/2018-consumer-trends-2/amp/

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pacaking

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