Republic of the Philippines

Department of Education
N a t i o n a l C a pi t a l Re g i o n
Sc h o o l s D i v i s i o n O f f i c e o f La s Pi ñ a s C i t y

NAME: ___________________________________________ Score: ___________________

GRADE & SECTION __________________________ Teacher: ___________________

MODULE IN ABM12
ENTREPRENEURSHIP
First Quarter
Week 7

Lesson 7 Recognize the importance of marketing mix in the development of marketing

strategy.

What I Need to Know

1. Learners will be able to understand the meaning of marketing strategy.

2. Learners will be able to understand a brief introduction of the marketing mix.
3. Learners will be able to recognized the importance of marketing mix in the development of
marketing strategy.
Learning Competencies
Recognize the importance of marketing mix in the development of marketing
strategy.Code: TLE_ICTAN11/12EM-Ia-1
Let’s Recall (Review)

Think of any industry operating in your place. For example an eatery industry if that is
the most common. What are the different types of eateries? Do these different types of eateries
have different types of customers? How large is each one of these customer segments (relative
to one another)? What do you think is the most attractive market segment for you to tap just in
case you get into this business?

Let’s Understand
Marketing Strategies – An Overview
Marketing strategy is a broad plan for achieving marketing objectives. A
marketing strategy that is well - articulated will enable one to focus on marketing activities to
achieve the organizational goal.
Definitions of Marketing Strategy
By Philip Kotler, “Marketing Strategy is the marketing logic by which the business unit expects
to achieve its marketing objectives.”
By Dibb and Simkin, “Marketing Strategy indicates the specific markets towards which
activities are to be targeted and the types of competitive advantage to be exploited.”
By Piercy, “Choosing market targets and a strong market position base on differentiating
capabilities to create a robust and sustainable value proposition to customers and networks of
critical relationships.”

People Packaging Positioning

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 Thus from the above definitions one can assert that a marketing strategy is a process that
can allow an organization to concentrate its limited resources on the greatest opportunities to
increase sales and achieve a sustainable competitive advantage. A marketing strategy should be
centred around the key concept that customer satisfaction is the main goal. Fulfillment of wants
of the prospects is one the important goals of marketing activities. A prospective buyer is known
as a prospect.
The Role of the Marketing Mix

There's an old axiom that defines marketing as the process of "getting the right product
in front of the right people at the right time and for the right price." The marketing mix refers
to the collection of tools and strategies a business will use to do just that: get its products to
customers who are ready and able to buy them.
Marketing mix constitutes of the 4 P’s in case of products – Product, price, place and
promotion. In case of services it constitutes of 3 more P’s – People, process and Positioning.
Furthermore, in recent years, Packaging is also considered as an important P and is said to be
the 5th P of the Marketing mix.

Product Marketing Mix

Product Price Place Promotion Services

Marketing
Mix

The following points explain the importance of marketing mix.

1) It helps in a clean mix creation
Your marketing mix should have all the P’s compatible with each other. The price
should be compatible with the placement of the product. The product should be compatible
with the promotions. In general, all the P’s are intrinsically linked to each other.
As a result, when you are making a marketing mix, it becomes a chain of strong bonds.
And these bonds then guide you forward in making the chain longer. Whenever you are
considering adding a new feature or changing existing things, you have to look at the overall
picture, which helps in creating a clean marketing mix for the product.
2) Marketing mix helps in New product development
While designing an existing product, there are any number of ideas which can come up
for a related product that can be designed by the company. The pricing, place and promotions
might be different for such a product. Nonetheless, it can be classified as a new product and
hence while designing the marketing mix, the company can come up with good ideas for NPD
as well.
3) Marketing mix helps increase the product portfolio
Whenever you want to increase the product depth or product line and length, you have
to make minor changes to the product. In essence, you are making minor changes in the
marketing mix itself. You are making changes to the product features, to its pricing and possible
to its promotions. As a result, by altering the marketing mix and certain features within it, you
can end up with an enlarged product portfolio.
4) It is a guide to improve a business

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 Place was an important P in the service marketing mix. If a restaurant or an interior
design business realizes its important, then naturally they can act on it and improve the place
of their business thereby bringing in more business.
The following points explain the importance of marketing mix.
5) It helps in a clean mix creation
Your marketing mix should have all the P’s compatible with each other. The price
should be compatible with the placement of the product. The product should be compatible
with the promotions. In general, all the P’s are intrinsically linked to each other.
As a result, when you are making a marketing mix, it becomes a chain of strong bonds.
And these bonds then guide you forward in making the chain longer. Whenever you are
considering adding a new feature or changing existing things, you have to look at the overall
picture, which helps in creating a clean marketing mix for the product.
6) Marketing mix helps in New product development
While designing an existing product, there are any number of ideas which can come up
for a related product that can be designed by the company. The pricing, place and promotions
might be different for such a product. Nonetheless, it can be classified as a new product and
hence while designing the marketing mix, the company can come up with good ideas for NPD
as well.
7) Marketing mix helps increase the product portfolio
Whenever you want to increase the product depth or product line and length, you have
to make minor changes to the product. In essence, you are making minor changes in the
marketing mix itself. You are making changes to the product features, to its pricing and possible
to its promotions. As a result, by altering the marketing mix and certain features within it, you
can end up with an enlarged product portfolio.
8) It is a guide to improve a business
Place was an important P in the service marketing mix. If a restaurant or an interior
design business realizes its important, then naturally they can act on it and improve the place
of their business thereby bringing in more business.
The importance of marketing mix is evident in more then a single P. People and
packaging are important to the organization too and optimizing both can improve the overall
working of the organization. Hence, marketing mix is an excellent guide if someone wants to
improve their business and is doing gap analysis.
9) It helps in differentiation
When you analyse the marketing mix of Competitors, there are many different ways
that you can differentiate yourself from the competitor. The competitor might have poor
promotions and by analyzing them, you can create better promotions of your own product.
The competitor might have poor placement of products or he might have the wrong
process or the wrong people in place. All this can be improved upon giving you a better
marketing mix and therefore a competitive advantage in the market.
10) Finally, it helps you in being dynamic
A company which is well prepared is also prepared when disaster strikes. During
recession or during a poor business environment, a company should be ready to respond. At
such times, the company needs to be dynamic in nature. Such a company needs to understand
its product, packaging, people, promotions and all other P’s better. If it understands them, it
will respond with a better agility.
Thus, there are many ways that marketing mix may be important to an organization.
The best part is, analyzing and understanding the marketing mix is not a lengthy procedure and
the Return on Investment (ROI) on the time spent is much higher.
Let’s Apply
MULTIPLE CHOICE: Choose the letter of the correct answer

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 and write it on the answer sheet provided. (NO ERASURE)

1. What do you call the virus that attacked the whole world last
December, 2019 which is started from WUHAN, China?
A. SARS B. ASF C. COVID 19

2. Due to pandemic caused by the Corona Virus 2019, the IATF declared ECQ to all
regions in the Philippines which cause problem in the transportation of goods? Regions
in the sentence where goods are transports refers to?
A. Place B. Promotion C. People
3. Business establishments like parlors, barber shop, amusement centers even
department stores inside a mall are temporarily closed but groceries, market, drugstores
and other food related stores are the only operating during the ECQ just to give
opportunity for the people to buy their essential needs. What is this essential needs
mean?
A. Product B. Price C. Positioning
4. The Department of Trade and Industry or DTI strictly monitored the prices of
commodities specially at the grocery stores just to ensure that there is no price increase
because many Filipinos are being jobless during the ECQ. What did the DTI checked?
A. Product B. Price C. Packaging
5. Because of the pandemic and the health protocols provided by the IATF, like the
proper and frequent hand washing, using hand sanitizer or alcohol and even the things
we keep on touching we need to disinfect to avoid the contamination of the virus, all of
these cause us panic and that is why we rely so much on the said products influenced
by the TV commercials or E-commercials. Commercials are an example of what Ps?
A. Place B. Promotion C. People

Let’s Analyze
Let us connect the lesson to Recognize the importance of marketing mix in
the development of marketing strategy to our present situation.
Direction: Complete the table below.
On the first column are the importance of marketing mix and for the second column you are
going to write your answer based on the guide question.
Guide Questions:
1. Have you watched the new TV Advertisement of Jollibee in connection with COVID 19?
What are the changes done by the business?
2. Because of the pandemic the government requires the people to wear face mask always
specially when they are outside of their houses or they are in a crowd. And because of this there
is a rapid increase in demand for face mask which leads to development or creation of new face
mask. Draw at least 3 kinds of face mask.
3. In GCQ, restaurants can now be open for take-out only. Therefore it is a big challenge on
the part of the store owner and it is the reason why they have to hire delivery boy for online or
by phone orders . But because of the virus and also the time delay, people prefer to order online
and they choose food delivery. Now, list down at least 3 food delivery express.
4. During the GCQ, have you entered a fast food store or any restaurant nearby you? What did
you observed about the place, people, and the packaging?
5. What did you do to protect yourself from COVID 19?
6. Are you ready for the New Normal? How about the blended learning? What can you do
about it?

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 Importance of marketing mix
1. It helps in a clean mix creation 1.
2. Marketing mix helps in New product 2.
development
3. Marketing mix helps increase the product 3.
portfolio
4. It is a guide to improve a business 4.
5. It helps in differentiation 5.
6. It helps you in being dynamic 6.

E-search (optional)

Marketing Strategies -An Overview by Philip Kotler

Shodhganga.inflibnet.ac.in/bitstream/10603/77658/13/13…
What Is the Importance of the Marketing Mix in the Development of a Marketing Strategy & Tactics?By: Annie
Sisk Reviewed by: Elisa Shoenberger, M.B.A Updated November 02, 2018
What is the Importance of Marketing Mix and why are the 4 P’s important? September 8,
2018 By Hitesh Bhasin Tagged With: Marketing management articles
Main Task By. englishpost.org/task-based-lesson-the-marketing-mix
Brands and Slogans By. englishpost.org/task-based-lesson-the-marketing-mix

References
Merriam-Webster Dictionary
Entrepreneurship by Dr. Eduardo A. Morato, Jr.

Let’s Try (Evaluation)

Activity #1: Check Your Understanding
Answer the following briefly:
1. Why marketing strategy should be centred around the key concept that customer
satisfaction is the main goal.

2. Enumerate the 7 Ps of marketing mix.

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3. Why marketing strategy should be centred around the key concept that customer
satisfaction is the main goal.

4. Enumerate the 7 Ps of marketing mix.

5. Enumerate the importance of marketing mix

Activity #2: The students will select a product and they will talk about the marketing mix
of that specific product:
 Product: Main features or characteristics.
 Price: The prices in which you can get such products locally and online.
 Place: Local, National or Online stores where you can buy the product.
 Promotion: Where the product is advertised.
Activity #3: Matching Type - Finding Brand
Match the slogan to the brand behind it. Draw a line to connect the two.
ike • • Impossible is Nothing
Apple • • Have it your way
BMW • • “Imagination at Work”
McDonald’s • • The happiest place on earth
General Electric • • “Designed for Driving Pleasure”
The U.S. Marine Corps• • “Just Do It”
Walmart • • Save Money. Live Better
Adidas • • Connecting people
Sony • • Finger lickin’ good
Disneyland • • “I’m Lovin’ It”
KFC • • Make Believe
Burger King • • “Think Different”
Nokia • • “The Few. The Proud. The Marines.”