ENTREPRENEUR

SHIP
• In its broadest sense, marketing is about creating and
accumulating customers.
• Marketing plans are designed to capture market share and
defeat competitors.
• The marketing function and the marketing mix serve the
overall business strategy.
• It is summarized in seven Ps by which the enterprise will
engage competitors and gain customers.
• These Ps are Positioning, Packaging, Place, People,
Promotion, and Price.

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POSITIONING
Has an enterprise
perspective. The enterprise scans the
market environment and decides to
position itself with products that
specifically address the needs of a
chosen target market.
PRODUCT
Product is the tangible
good or the intangible service that
the enterprise offers its customers
in order to satisfy their needs and
to produce their expected results.
There are four general types of products that are
marketed by enterprises:
1. Breakthrough products – offer completely new
performance benefits.
2. Differentiated products – try to claim a new space
in the mind of the customer different from the spaces
occupied by existing products.
3. Copycat products – will not make much impression
on the customer’s mind.
4. Niche products – do not intend to compete directly
with the giants. They are products with lower reach,
lower visibility, lower prices, and lower top of mind.
PACKAGING
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
customers. It can also mean the terms and
conditions attached to the sale or after-sale
servicing of the product.
PLACE
“Location. Location. Location.”
This is the often-recited mantra of
salespeople who want to have the best
access to their customers. Although finding a
good location proves to be challenging, even
more challenging is maximizing the
potentials of that location.
INITIAL LOCATION SCREENING
In finding a good location, one needs to consider the following:
1. The number of customers residing or working in the area, and the
number of customers who frequently pass through the area.
2. The density or number of customers per unit area.
3. The access routes to alternative locations and their traffic count in
those routes.
4. The buying habits of customers or where they buy, at what time and
how frequent.
5. Locational features such as parking spaces, foot access, creature
comforts, and the like.
In addition to the above factors, the final
choice of location must be based on the
following:
1. Image and location conditions.
2. Exact fit to target customers.
3. Clustering of competitor establishments.
4. Future area development.
5. Fiscal and regulatory requirements.
RELEVANT LOCATION
DRIVERS
IT WOULD BENEFIT THE
ENTREPRENEUR TO DO AN IN-
DEPTH LOCATION ANALYSIS.
THE ENTREPRENEUR CAN MAKE
USE OF THE FOLLOWING
RELEVANT LOCATION DRIVERS
FOR LOCATION SELECTION.
THERE ARE THE ‘MUST’ IN CHOOSING
THE LOCATION FOR YOUR BUSINESS.
1. Physical proximity to 6. Population
target market concentrations
2. Customer traffic flow 7. Activity hubs
3. Industry clustering 8. Growth potential
4. Convergence of 9. Business climate
multiple industries 10. Cost of doing business
and producing goods and
services
 PROMOTION
PEOPLE Promotion is the
People are the explicit communication
strategy adopted by an
ultimate marketing
enterprise to elicit the
strategy. People sell and
patronage, loyalty, and
push the product. People support not only from its
search hard to find the customers but also from its
right market. other significant stakeholders.
PRICE
Pricing depends on
the business objectives set
by the enterprise. While
price is a major factor for
the customer in buying a
product, it is not the only
factor such as in the case of
buying premium products.