GRADE LEVEL: 12 WEEK: 6

SUBJECT: Entrepreneurship LESSON: 4

TOPIC: Market Strategies
OBJECTIVES:
1. Define Market Strategies
2. Describe the Marketing Mix (7Ps) in relation to business opportunity
3. Develop Brand Name

LESSON PROPER

Market Strategies
 the foundation of a marketing plan
 combines all its marketing goals into comprehensive plan
 good marketing strategy should be drawn from market search and focus on the product mix in order to achieve
maximum profit and to sustain the business

Guidelines in formulating the marketing strategies;

1. Who is producing similar products?
2. Where are the competitors located?
3. What is the quality and price of their products?
4. What can I do to make a new product that is much better than those of the competitors?
5. Why would consumers or customers want to change to a new product?
6. What offers or incentives do competitors give to retailers?
7. What are competitors likely do if a new product is introduced?

7Ps in Business Opportunity

1. Product – to satisfy the needs and wants of the target market.

2. Place – to make the product conveniently available to the target market consistent with their purchasing pattern.
3. Promotion - to build and improve consumer demand. Promotion has four components called Promotion Mix as follows:
a. Advertising – to effectively inform and persuade the target market
b. Public Relations – to offer a positive image of the company and the brand
c. Selling – to get the customers buy
d. Sales Promotions – to convince customers to buy immediately
4. Price – to make the product affordable to the target market and reflect the value of benefits provided.
5. People – they are target consumers of the company. They are the ones who are the consumers.
6. Packaging –is the first distinction of a product. A product could be easily recognized by its appearance.
7. Positioning – develops the habit of thinking continually about how the products are positioned in the hearts and minds of our
customers.

Developing Brand Name

1. Decide what is going to be brand.
2. Do the research.
3. Position the product or service.
4. Write the brand definition.
5. Develop the name, logo, and tagline.
6. Launch the brand.
7. Manage, leverage, and protect the brand.
8. Realign the brand to keep it current.