OPPORTUNITY SEEKING LEARNING MODULE

Program: Bachelor of Science in Entrepreneurship Topic: Marketing and Its Environment

Course: Opportunity Seeking Instructor: ROBIELYN M. MAGSINO, MBA
Code ENCO03 Module #: 1 Week #: 1 and 2 # of Pages: 10

I. Preliminaries
Introduction to the This module follows the Introduction which is the discussion of the Syllabus and Grading System. The
Module Objective module discusses the significance of marketing principles in finding best opportunity for business. Part
of the presentation in this module is about the different environments inside and outside an
organization that may affect a business positively or negatively.
Assessment/
Section Topics Learning Outcomes Evaluation Modality
Section 1. What is Marketing? 1. define marketing and outline the steps Rubric for the Value Modular Blended
in the marketing process; Proposition Canvas Teaching – Online
Section 2. Understanding the
2. explain the importance of the via LMS
Marketplace and Custom
marketplace and customers and identify Test on cognitive
Section 3. Designing a Customer the 5 core marketplace concept; analysis of the types Modular Blended
Value–Driven Marketing Strategy 3. identify the key elements of a customer of market Teaching – Offline
and Plan value–driven marketing strategy; segmentation via Via Printed
4. discuss customer relationship google form Modules
Section 4. Managing Customer
management and identify strategies for
Relationships and Capturing
creating value for customers; Learning Journal Face-to-face if
Customer Value
5. describe the major trends and forces applicable
Section 5. The Microenvironment that are changing the marketing
landscape in this age of relationships;
Section 6. The Macroenvironment
6. describe the environmental forces that
affect the company’s ability to serve its
customers;
7. explain how changes in the
demographic and economic
environments affect marketing
decisions;
8. identify the major trends in the firm’s
natural and technological
environments;
9. explain the key changes in the political
and cultural environments;
10. discuss how companies can react to the
marketing environment.

II. Instructions
KEYWORDS AND CONCEPTS
Customer relationship is the development of an ongoing connection between a company and its customers. The relationship
involves marketing communications, sales support, technical assistance and customer service. The relationship is measured by the
degree of customer satisfaction through the buying cycle and following receipt of goods or services.
Customer value is the perception of what a product or service is worth to a customer versus the possible alternatives. Worth means
whether the customer feels that he or she received benefits and services over what was paid.
Marketing strategy is the marketing logic by which the company hopes to create customer value and achieve profitable customer
relationships.
Market segmentation means dividing a market into distinct groups of buyers who have different needs, characteristics, or
behaviors and who might require separate marketing strategies or mixes.
Market segment is a group of consumers who respond in a similar way to a given set of marketing efforts.
Market targeting means evaluating each market segment’s attractiveness and selecting one or more segments to serve.
Positioning means arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the
minds of target consumers.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

Differentiation is actually differentiating the market offering to create superior customer value.
Marketing mix is the set of tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the
response it wants in the target market.
SWOT Analysis is an overall evaluation of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T).
Customer delight differs from customer satisfaction in one very crucial way: it's about exceeding a customer's expectations, or
going above and beyond, rather than just simply providing a satisfactory experience that met expectations.

SECTION I. WHAT IS MARKETING

Marketing, more than any other business function, deals with customers. Although
we will soon explore more-detailed definitions of marketing, perhaps the simplest
definition is this one: Marketing is engaging customers and managing profitable
customer relationships. The twofold goal of marketing is to attract new customers by
promising superior value and to keep and grow current customers by delivering value
and satisfaction. For example, Nike leaves its competitors in the dust by delivering on
its promise to inspire and help everyday athletes to “Just do it.” Amazon dominants
the online marketplace by creating a world-class online buying experience that helps
customers to “find and discover anything they might want to buy online.” Facebook
has attracted more than 1.5 billion active web and mobile users worldwide by helping
them to “connect and share with the people in their lives.” And Coca-Cola has earned
an impressive 49 percent global share of the carbonated beverage market—more
than twice Pepsi’s share—by fulfilling its “Taste the Feeling” motto with products that
provide “a simple pleasure that makes everyday
moments more special.”

Marketing Defined
What is marketing? Many people think of marketing as only selling and advertising. We are bombarded every day with TV
commercials, catalogs, spiels from salespeople, and online pitches. However, selling and advertising are only the tip of the
marketing iceberg.
Today, marketing must be understood not in the old sense of making a sale—
“telling and selling”—but in the new sense of satisfying customer needs. If the Opportunity Seeking: Marketing is not
marketer engages consumers effectively, understands their needs, develops simply selling; it is giving what consumers
products that provide superior customer value, and prices, distributes, and desire.
promotes them well, these products will sell easily. In fact, according to management guru Peter Drucker, “The aim of marketing is
to make selling unnecessary.” Selling and advertising are only part of a larger marketing mix—a set of marketing tools that work
together to engage customers, satisfy customer needs, and build customer relationships.

Broadly defined, marketing is a social and managerial process by which individuals and organizations obtain what they need and
want through creating and exchanging value with others. In a narrower business context, marketing involves building profitable,
value laden exchange relationships with customers. Hence, we define marketing as the process by which companies engage
customers, build strong customer
relationships, and create customer
value in order to capture value from Opportunity Seeking: Created demand
customers in return. for something we want is a good
SECTION 2. UNDERSTANDING THE business opportunity
MARKETPLACE AND CUSTOMER
NEEDS
The Marketing Process: As a first step,
marketers need to understand
customer needs and wants and the
marketplace in which they operate.
We examine five core customer and
marketplace concepts: (1) needs,
wants, and demands; (2) market
offerings (products, services, and
experiences); (3) value and
satisfaction; (4) exchanges and
relationships; and (5) markets.
Customer Needs, Wants, and Demands
The most basic concept underlying marketing is that of human needs. Human needs are states of felt deprivation. They include
basic physical needs for food, clothing, warmth, and safety; social needs for belonging and affection; and individual needs for
knowledge and self-expression. Marketers did not create these; they are a basic part of the human makeup.

Wants are the form human needs take as they are shaped by culture and individual personality. A person needs food but wants a
Big Mac, fries, and a soft drink. A person in Philippines needs food but wants Italian food. Wants are shaped by one’s society and

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

are described in terms of objects that will satisfy those needs. When backed by buying power, wants become demands. Given their
wants and resources, people demand products and services with benefits that add up to the most value and satisfaction.

Market Offerings—Products, Services, and

Experiences
Consumers’ needs and wants are fulfilled
through market offerings—some
combination of products, services,
information, or experiences offered to a
market to satisfy a need or a want. Market
offerings are not limited to physical
products. They also include services—
activities or benefits offered for sale that
are essentially intangible and do not result
in the ownership of anything. Examples Opportunity Seeking: A theme park like Disneyland is a business that offer a full
include banking, airline, hotel, retailing, combination of products, services, and experiences.
and home repair services. More broadly,
market offerings also include other entities, such as persons, places, organizations, information, and ideas.

Many sellers make the mistake of paying more attention to the specific products they offer than to the benefits and experiences
produced by these products. These sellers suffer from marketing myopia. They are so taken with their products that they focus only
on existing wants and lose sight of underlying customer needs. They forget that a product is only a tool to solve a consumer
problem. A manufacturer of quarter-inch drill bits may think that the customer needs a drill bit. But what the customer really needs
is a quarter inch hole. These sellers will have trouble if a new product comes along that serves the customer’s need better or less
expensively. The customer will have the same need but will want the new product.

Exchanges and Relationships

Marketing occurs when people decide to satisfy their needs and wants through exchange relationships. Exchange is the act of
obtaining a desired object from someone by offering something in return. In the broadest sense, the marketer tries to bring about
a response to some market offering. The response may be more than simply buying or trading products and services. A political
candidate, for instance, wants votes; a church wants membership
and participation; an orchestra wants an audience; and a social
action group wants idea acceptance.

Marketing consists of actions taken to create, maintain, and grow

desirable exchange relationships with target audiences involving a
product, service, idea, or other object. Companies want to build

strong relationships by consistently delivering superior Opportunity Seeking: A business that produce something of value
customer for consumers is a good business opportunity.
value.

Markets
The concepts of exchange and relationships lead to
the concept of a market. A market is the set of actual
and potential buyers of a product or service. These
buyers share a particular need or want that can be
satisfied through exchange relationships.

Marketing means managing markets to bring about

profitable customer relationships. However, creating
these relationships takes work. Sellers must search for
and engage buyers, identify their needs, design good
market offerings, set prices for them, promote them,
and store and deliver them. Activities such as
consumer research, product development,
communication, distribution, pricing, and service are Opportunity Seeking: A market is a person, not a place. Not all products
core marketing activities. have the same market. A market can be differentiated by age and needs.

SECTION 3: DESIGNING A CUSTOMER VALUE–DRIVEN MARKETING STRATEGY AND PLAN

Customer Value–Driven Marketing Strategy

Once it fully understands consumers and the marketplace, marketing management can design a customer value–driven marketing
strategy. We define marketing management as the art and science of choosing target markets and building profitable
relationships with them. The marketing manager’s aim is to engage, keep, and grow target customers by creating, delivering, and
communicating superior customer value.

Selecting Customers to Serve

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING
The company must first decide whom it will serve. It does this
by dividing the market into segments of customers (market
segmentation) and selecting which segments it will go after
(target marketing). Some people think of marketing
management as finding as many customers as possible and
increasing demand. But marketing managers know that they
cannot serve all customers in every way. By trying to serve all
customers, they may not serve any customers well. Instead,
the company wants to select only customers that it can serve
well and profitably.
Choosing a Value Proposition
The company must also decide how it will serve targeted
customers—how it will differentiate and position itself in the Opportunity Seeking: Coffee is a product for adult market and milk,
marketplace. A brand’s value proposition is the set of is specially, a product for a younger market – from baby to toddlers.
benefits or values it promises to deliver to consumers to Both products have different nutritional value to its specific market.
satisfy their needs.
Marketing Management Orientations
There are five alternative concepts under which
organizations design and carry out their marketing
strategies: the production, product, selling, marketing, and
societal marketing concepts.
 The Production Concept. The production concept holds
that consumers will favor products that are available and
highly affordable. Therefore, management should focus on
improving production and distribution efficiency. This
concept is one of the oldest orientations that guides
sellers.

 The Product Concept. The product concept holds that

consumers will favor products that offer the most in quality, Opportunity Seeking: It is best to identify what are the values your
performance, and innovative features. Under this concept, target market will benefit and experience in your intended business
marketing strategy focuses on making continuous product to open. The Value Proposition of Starbucks is presented.
improvements. Product quality and improvement are
important parts of most marketing strategies. However, focusing only on the company’s products can also lead to marketing
myopia.

 The Selling Concept. Many companies follow the selling concept, which holds that consumers will not buy enough of the firm’s
products unless it undertakes a large-scale selling and promotion effort. The selling concept is typically practiced with unsought
goods—those that buyers do not normally think of buying, such as life insurance or blood donations. These industries must be
good at tracking down prospects and selling them on a product’s benefits.

 The Marketing Concept. The marketing concept holds that achieving organizational goals depends on knowing the needs and
wants of target markets and delivering the desired satisfactions better than competitors do. Under the marketing concept,
customer focus and value are the paths to sales and profits. Instead of a product-centered make-and-sell philosophy, the
marketing concept is a customer-centered sense-and-respond philosophy. The job is not to find the right customers for your
product but to find the right products for your customers.
 The Societal Marketing Concept. The
societal marketing concept questions whether the
pure marketing concept overlooks possible
conflicts between consumer short-run wants and
consumer long-run welfare. Is a firm that satisfies
the immediate needs and wants of target markets
always doing what’s best for its consumers in the
long run? The societal marketing concept holds
that marketing strategy should deliver value to
customers in a way that maintains or improves
both the consumer’s and society’s well-being. It
calls for sustainable marketing, socially and
environmentally responsible marketing that meets
the present needs of consumers and businesses
while also preserving or enhancing the ability of
future generations to meet their needs.
Opportunity Seeking: In marketing management, the main focus is to know what
are the needs and wants of target markets and how to deliver them much better
than competitors. The goal is customer satisfaction and delight.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

SECTION 4. MANAGING CUSTOMER
RELATIONSHIPS AND CAPTURING CUSTOMER
VALUE
Engaging Customers and Managing Customer
Relationships
The first three steps in the marketing process—
understanding the marketplace and customer
needs, designing a customer value–driven
marketing strategy, and constructing a
marketing program—all lead up to the fourth
and most important step: engaging customers
and managing profitable customer
relationships. We first discuss the basics of
customer relationship management. Then we
examine how companies go about engaging
customers on a deeper level in this age of
digital and social marketing.
Customer Relationship Management
Customer relationship management is perhaps
the most important concept of modern
marketing. In the broadest sense, customer
relationship management is the overall
process of building and maintaining Opportunity Seeking: Entrepreneurs today do not just rely on what they know. Most
of them talk to potential customers first to identify they needs, wants, preferences,
profitable customer relationships by
and even their behavior. Market research is a great tool for identifying the best
delivering superior customer value and
decisions for their business.
satisfaction. It deals with all aspects of
acquiring, engaging, and growing customers.
Relationship Building Blocks: Customer Value and Satisfaction.
The key to building lasting customer relationships is to create superior customer value and satisfaction. Satisfied customers are
more likely to be loyal customers and give the company a larger share of their business.
Attracting and retaining customers can be a difficult task. Customers often face a bewildering array of products and services from
which to choose. A customer buys from the firm that offers the highest customer-perceived value—the customer’s evaluation
of the difference between all the benefits and all the costs of a market offering relative to those of competing offers. Importantly,
customers often do not judge values and costs “accurately” or “objectively.” They act on perceived value.
Customer satisfaction depends on the product’s perceived performance relative to a buyer’s expectations. If the product’s
performance falls short of expectations, the customer is dissatisfied. If performance matches expectations, the customer is satisfied.
If performance exceeds expectations, the customer is highly satisfied or delighted.
Outstanding marketing companies go out of their way to keep important customers satisfied. Most studies show that higher levels
of customer satisfaction lead to greater customer loyalty, which in turn results in better company performance. Companies aim to
delight customers by promising only what they can deliver and then delivering more than they promise. Delighted customers not
only make repeat purchases but also become willing marketing partners and “customer evangelists” who spread the word about
their good experiences to others.

SECTION 5. THE CHANGING MARKETING LANDSCAPE

The Digital Age: Online, Mobile, and Social Media

Marketing
The explosive growth in digital technology has
fundamentally changed the way we live— how we
communicate, share information, access
entertainment, and shop. Welcome to the age of the Opportunity Seeking:
Internet of Things (IoT), a global environment where The content marketing
everything and everyone is digitally connected to platforms like Facebook
(94% reach) and YouTube
everything and everyone else. More than 3.3 billion
(77% reach) are important
people—46 percent of the world’s population—are tools today for reaching
now online. These numbers will only grow as digital potential customers.
technology rockets into the future.

The consumer love affair with digital and mobile technology makes it fertile ground for marketers trying to engage customers. So
it’s no surprise that the internet and rapid advances in digital and social media have taken the marketing world by storm. Digital
and social media marketing involves using digital marketing tools such as websites, social media, mobile ads and apps, online video,
email, blogs, and other digital platforms to engage consumers anywhere, anytime via their computers, smartphones, tablets,
internet ready TVs, and other digital devices. These days, it seems that every company is reaching out to customers with multiple
websites, newsy tweets and Facebook pages, viral ads and videos posted on YouTube, rich-media emails, and mobile
apps that solve consumer problems and help them shop.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

SECTION 5. MICROENVIRONMENT
The Changing Marketing Landscape
The marketing environment consists of a microenvironment and a macroenvironment. The microenvironment consists of the actors
close to the company that affect its ability to engage and serve its customers—the company, suppliers, marketing intermediaries,
customer markets, competitors, and publics. The macroenvironment consists of the larger societal forces that affect the
microenvironment—demographic, economic, natural, technological, political, and cultural forces.
The
Micr
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ists
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microenvironment and a macroenvironment. The microenvironment consists of the actors close to the company that affect its
ability to engage and serve its customers—the company, suppliers, marketing intermediaries, customer markets, competitors, and
publics. The macroenvironment consists of the larger societal forces that affect the microenvironment—demographic, economic,
natural, technological, political, and cultural forces. We look first at the company’s microenvironment.
The Microenvironment
The Company
In designing marketing plans, marketing management takes other company groups into account—groups such as top management,
finance, research and development (R&D),
purchasing, operations, human resources, and
accounting. All of these interrelated groups form
the internal environment. Top management sets
the company’s mission, objectives, broad
strategies, and policies. Marketing managers make
decisions within these broader strategies and plans.
Suppliers
Suppliers form an important link in the company’s
overall customer value delivery network. They
provide the resources needed by the company to
produce its goods and services. Supplier problems
can seriously affect marketing. Marketing managers
must watch supply availability and costs. Supply
shortages or delays, natural disasters, and other
events can cost sales in the short run and damage
customer satisfaction in the long run. Rising supply costs may force price increases that can harm the company’s sales volume.
Marketing Intermediaries
Marketing intermediaries help the company promote, sell, and distribute its products to final buyers. They include resellers,
physical distribution firms, marketing services agencies, and financial intermediaries. Resellers are distribution channel firms that
help the company find customers or make sales to them. These include wholesalers and retailers that buy and resell merchandise.
Physical distribution firms help the company stock and move goods from their points of origin to their destinations. Marketing
services agencies are the marketing research firms, advertising agencies, media firms, and marketing consulting firms that help the
company target and promote its products to the right markets. Financial intermediaries include banks, credit companies, insurance
companies, and other businesses that help finance transactions or insure against the risks associated with the buying and selling of
goods.
Competitors
The marketing concept states that, to be successful, a company must provide greater customer value and satisfaction than its
competitors do. Thus, marketers must do more than simply adapt to the needs of target consumers. They also must gain strategic
advantage by positioning their offerings strongly against competitors’ offerings in the minds of consumers.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

Publics
The company’s marketing environment also includes various publics. A public is any group that has an actual or potential interest in
or impact on an organization’s ability to achieve its objectives. We can identify seven types of publics:
• Financial publics. This group influences the company’s ability to obtain funds. Banks, investment analysts, and stockholders are
the major financial publics.
• Media publics. This group carries news, features, editorial opinions, and other content. It includes television stations, newspapers,
magazines, and blogs and other social media.
• Government publics. Management must take government developments into account. Marketers must often consult the
company’s lawyers on issues of product safety, truth in advertising, and other matters.
• Citizen-action publics. A company’s marketing decisions may be questioned by consumer organizations, environmental groups,
minority groups, and others. Its public relations department can help it stay in touch with consumer and citizen groups.
• Internal publics. This group includes workers, managers, volunteers, and the board of directors. Large companies use newsletters
and other means to inform and motivate their internal publics. When employees feel good about the companies they work for,
this positive attitude spills over to the external publics.
• General public. A company needs to be concerned about the general public’s attitude toward its products and activities. The
public’s image of the company affects its buying behavior.
• Local publics. This group includes local community residents and organizations. Large companies usually work to become
responsible members of the local communities in which they operate.

SECTION 6. THE MACROENVIRONMENT

The company and all of the other actors
operate in a larger macroenvironment of
forces that shape opportunities and pose
threats to the company.
The Demographic Environment
Demography is the study of human
populations in terms of size, density, location,
age, gender, race, occupation, and other
statistics. The demographic environment is of
major interest to marketers because it
involves people, and people make up
markets. The world population is growing at
an explosive rate. It now exceeds 7.3 billion
people and is expected to grow to more than
8 billion by the year 2030. The world’s large
and highly diverse population poses both
opportunities and challenges. Changes in the
world demographic environment have major implications for business.

Thus, marketers keep a close eye on demographic trends and developments in their markets. They analyze changing age and family
structures, geographic population shifts, educational characteristics, and population diversity. The world population contains
several generational groups. Here, we discuss the four largest groups—the baby boomers, Generation X, the millennials, and
Generation Z—and their impact on today’s marketing strategies.

The Baby Boomers. The post–World War II baby boom produced 78 million baby boomers, who were born between 1946 and 1964.
Over the years, the baby boomers have been one of the most powerful forces shaping the marketing environment. The youngest
boomers are now in their 50s; the oldest are in their early 70s and well into retirement.

Generation X. The baby boom was followed by a “birth dearth,” creating another generation of 49 million people born between
1965 and 1976. Author Douglas Coupland calls them Generation X because they lie in the shadow of the boomers. Considerably
smaller than the boomer generation that precedes them and the millennials who follow, the Generation Xers are a sometimes-
overlooked consumer group. Although they seek success, they are less materialistic than the other groups; they prize experience,
not acquisition. For many of the Gen Xers who are parents, family comes first—both children and their aging parents—and career
second.

Millennials. Both the baby boomers and Gen Xers will one day be passing the reins to the millennials (also called Generation Y or
the echo boomers). Born between 1977 and 2000, these children of the baby boomers number 83 million or more, dwarfing the
Gen Xers and becoming larger even than the baby boomer segment. In the post-recession era, the millennials are the most
financially strapped generation. Facing higher unemployment and saddled with more debt, many of these young consumers have
near-empty piggy banks. Still, because of their numbers, the millennials make up a huge and attractive market, both now and in the
future.
One thing that all millennials have in common is their comfort with digital technology. They don’t just embrace technology; it’s a
way of life. The millennials were the first generation to grow up in a world filled with computers, mobile phones, satellite TV, iPods
and iPads, and online social media. As a result, they engage with brands in an entirely new way, such as with mobile or social media.

Generation Z. Hard on the heels of the millennials is Generation Z, young people born after 2000 (although many analysts include
people born after 1995 in this group). The approximately 82 million Gen Zers make up the important kids, tweens, and teens
markets. They spend an estimated $44 billion annually of their own money and influence up to $600 billion of family spending.15
These young consumers also represent tomorrow’s markets—they are now forming brand relationships that will affect their buying
well into the future.
Even more than the millennials, the defining characteristic of Gen Zers is their utter fluency and comfort with digital technologies.
TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING
Generation Z takes smartphones, tablets, internet-connected game consoles, wireless internet, and digital and social media for
granted—they’ve always had them—making this group highly mobile, connected, and social. On average, connected Gen Zers
receive more than 3,000 texts per month. “If they’re awake, they’re online,” quips one analyst. They have “digital in their DNA,”
says another.
Gen Zers blend the online and offline worlds seamlessly as they socialize and shop. According to recent studies, despite their youth,
more than half of all Generation Z tweens and teens do product research before buying a product or having their parents buy it for

Opportunity Seeking: In order to attract more customers, an entrepreneur must study and understand each of his potential customers.

them. Of those who shop online, more than half prefer shopping online in categories ranging from electronics, books, music, sports
equipment, and beauty products to clothes, shoes, and fashion accessories.

The Economic Environment

Markets require buying power as well as people. The economic environment consists of economic factors that affect consumer
purchasing power and spending patterns. Economic factors can have a dramatic effect on consumer spending and buying behavior.

The Technological Environment

The technological environment is perhaps the most dramatic force now shaping our destiny. Technology has released such wonders
as antibiotics, robotic surgery, smartphones, and the internet. It also has released such horrors as nuclear missiles and assault rifles.
It has released such mixed blessings as the automobile, television, and credit cards. Our attitude toward technology depends on
whether we are more impressed with its wonders or its blunders. New technologies can offer exciting opportunities for marketers.

The Political and Social Environment

Marketing decisions are strongly affected by developments in the political environment. The political environment consists of laws,
government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.

Legislation Regulating Business. Even the strongest advocates of free-market economies agree that the system works best with at
least some regulation. Well-conceived regulation can encourage competition and ensure fair markets for goods and services. Thus,
governments develop public policy to guide commerce—sets of laws and regulations that limit business for the good of society as a
whole. Almost every marketing activity is subject to a wide range of laws and regulations

Increased Emphasis on Ethics and Socially Responsible Actions. Written regulations cannot possibly cover all potential marketing
abuses, and existing laws are often difficult to enforce. However, beyond written laws and regulations, business is also governed by
social codes and rules of professional ethics.
Socially Responsible Behavior. Enlightened companies encourage their managers to look beyond what the regulatory system allows
and simply “do the right thing.” These socially responsible firms actively seek out ways to protect the long-run interests of their
consumers and the environment.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

The Natural Environment
The natural environment involves the physical
environment and the natural resources that are needed as
inputs by marketers or that are affected by marketing
activities. At the most basic level, unexpected happenings
in the physical environment—anything from weather to
natural disasters—can affect companies and their
marketing strategies.

Concern for the natural environment has spawned an

environmental sustainability movement. Today,
enlightened companies go beyond what government
regulations dictate. They are developing strategies and
practices that create a world economy that the planet can
support indefinitely. Environmental sustainability means
meeting present needs without compromising the ability
of future generations to meet their needs.
Opportunity Seeking: In business, the goal is to earn profit, grow, and
expand. But an entrepreneur should be socially responsible in the use
The Cultural Environment
of natural resources for the benefit of future generations.
The cultural environment consists of institutions and
other forces that affect a society’s basic values, perceptions, preferences, and behaviors. People grow up in a particular society that
shapes their basic beliefs and values. They absorb a worldview that defines their relationships with others. The following cultural
characteristics can affect marketing decision
making.

The Persistence of Cultural Values. People in a given society hold many beliefs and values. Their core beliefs and values have a high
degree of persistence. For example, most Americans believe in individual freedom, hard work, getting married, and achievement
and success. These beliefs shape more specific attitudes and behaviors found in everyday life. Core beliefs and values are passed on
from parents to children and are reinforced by schools, businesses, religious institutions, and government. Secondary beliefs and
values are more open to change. Believing in marriage is a core belief; believing that people should get married early in life is a
secondary belief. Marketers have some chance of changing secondary values but little chance of changing core values.

Think of a business that you want to establish that will offer these components: products, services, and
experience. Discuss each of the component.

Answer this:
Differentiate Selling Concept from Marketing Concept. What is more acceptable for
entrepreneurs?
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Answers to these 2 activities will be forwarded to your instructor through Learning Management System provided.

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING

III. Viable and vibrant Activities
Description of the Learning Activities
Activity Number 1: Value Proposition Canvas
Description: This activity will assess the students’ ability to conceptualize product features based on the needs and wants of
customers. They will create a value proposition on a specific product. Presented in the value proposition are the product
benefits, features, and experiences on the use of the said product. On the part of the customers, you will present how product
will fall as a need, a created want, and the fears that are created by the lack of use of the product. Provided also is identified
substitute for the product.
Activity Number 2: Market Segmentation
Description: This activity will assess students understanding on the concept of market and market segmentation and how it is
important for an entrepreneurial endeavor. One of the objectives of this activity is for students to be able to identify the specific
market of a product or service they will conceptualize in the future. They will watch a short video about market segmentation
and then they will answer the review questions after. They will do this review test by going into this google form page:

IV. Opportunity to reflect and articulate students’ acquired knowledge.

Purpose of Activity Number 1: Value Proposition Canvas
1. to see students’ level of consciousness about basic product features;
2. to know if students have already grasp the difference between needs and wants;
3. to identify students with connectivity issues;
4. to serve as initial feedback on the level of student participation in online or modular format.
Criteria for Evaluation
The value proposition canvas of the students will be scored based on this rubric:
VALUE PROPOSITION CANVAS
Criteria 1 - Poor 2 – Below Average 3 - Average 4 - Excellent score
Product No Description of Some but insufficient Adequate Clear description of
Benefit Product Benefit the benefits of the
product.
Product No Description of Some but insufficient Adequate Clear description of
Features Product Features the features of the
product.
Product No Description of Some but insufficient Adequate Clear description of
Experience Product Experience what customers
experience from the
product.
Customer No Description of Some but insufficient Adequate Clear description of
Need Customer Need why the customers
need the product.

Customer No Description of Some but insufficient Adequate Clear description of

Wants Customer Want the customer want
satisfied from the
product.
Customer No Description of Some but insufficient Clear description of
Fears Customer Fear the fear customer
may fee from the
product.
Total

Purpose of Activity Number 2: Market Segmentation

1. to assess the understanding of the students on the different types of market segmentation;
2. to determine the basic cognitive skill of students in analyzing the content of the videos;
3. to identify students with issues in comprehending complex terminologies explained in the video;
4. to assess the internet connectivity of students;
Criteria for Evaluation
The correct answers to the review test is part of the pre-determined setting in the google form. There are 10 items with a total
15 points. The test is a combination of multi-test format like multiple choice, true or false, and enumeration.
Summary and Reflection
A learning journal about this activity will be accomplished by the students.

V. Textbooks and other References

1. Principles of Marketing by Philip Kotler and Gary Armstrong, 17th Edition

TANAUAN CITY COLLEGE ENCO03 – MODULE 1 OPPORTUNITY SEEKING