ENTREPRENEURSHIP

ENTREPRENEURSHIP
LEARNING MODULE # 2
THE MARKETING PLAN

LEARNING OBJECTIVES
SET YOUR GOAL! By the end of this module, you should be able to:

__describe the unique selling proposition and value proposition that differentiates one’s
product or service from existing products/services;
__validate customer-related concerns through interview, focus group discussion, observation,
and survey;
__describe the marketing mix in relation to the business opportunity and vice versa; and
__develop the marketing mix for your team’s enterprise.
Track your progress by ticking these goals upon nishing Learning Module #2

Here is the list of activities that you need to accomplish to learn more about the topic. You may use this as your guide to
help you manage your time. Remember to take rests in between your activities in Entrepreneurship and in your other
subjects. Pausing is also part of the process 😊 Good luck!
ACTIVITY COMPLETION TIME
September 28 Discussion: Opportunity 30 minutes
Seizing
Discussion: Pre-Feasibility 20 minutes
September 29 Study Part 2
Checkpoint #1 30 minutes
September 30 - October 2 Business Team Task # 2 90 minutes
Quiz 1 & 2
Discussion: Marketing Mix 30 minutes

October 5-8 Checkpoint # 1 30 minutes

Video Presentation: Marketing 15 minutes

Mix Analysis
Business Team Task # 3 60 minutes
October 9 Quiz 3 40 minutes
October 12-23 Performance Task work at your own pace

Submission of Requirements:
For online submission: Upload your le/s and answer sheets to the link in Aralinks under this
subject.
File Name: LastName_FirstName_FABM
For of ine submission: Outputs will be submitted by your parents/guardian to the school.

CONFIDENTIALITY NOTICE:
This module and any of its attachments are meant for the use of the learners who are enrolled in
this subject. This module is for academic/school purposes only and is not meant for sharing,
publishing, copying, and disseminating. Hence, the distribution of this module and any of its
content/s is strictly prohibited.

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Hey there, entrepreneur! I know you’re excited to craft your business plan with your teammates but just hang in
there, just a few more concepts and you’re good to go! Here’s something to get you going for the third module in
Entrepreneurship.

After Opportunity Seeking and Screening, the entrepreneur is ready for

Opportunity Seizing, the final stage.

C. OPPORTUNITY SEIZING
- the last step in opportunity spotting and assessmen
- The “pushing through” with the chosen opportunit
- Entrepreneurs often encounter a problem in de ning a “new” product or service, or identifying its
components or features. Examples are
• drastically improving the packaging and not the product itsel
• Adding one extra step in the service delivery proces
• Simple augmenting a product or servic
- The new product should increase the pro tability of the enterprise
Under Opportunity Seizing, here are the things that you need to consider:
I. Crafting a Positioning Statement (Pages 32-34
- A positioning statement is an expression of how a given
product, service or brand lls a particular consumer
need in a way that its competitors don’t. Positioning is
the process of identifying an appropriate market niche
for a product (or service or brand) and getting it
established in that area

- In his book Crossing the Chasm, Geoffrey Moore offers

the following template for a positioning statement
For (target customer) who (statement of the need or
opportunity), the (product name) is a (product category) that
(statement of key bene t – that is, compelling reason to buy). Unlike (primary competitive alternative),
our product (statement of primary differentiation)

TWO THINGS CAN BE CONSIDERED UNDER POSITIONING STATEMENTS

1. Value Propositio
- refers to the value a company promises to deliver to customers should they choose to buy their
product. A value proposition is part of a company's overall marketing strategy.
- provides a declaration of intent or a statement that introduces a company's brand to consumers by
telling them what the company stands for, how it operates, and why it deserves their business. (Twin,
2020
Examples
• Apple Macbook - “Light.Years Ahead.
Apple has great value propositions for every product, but one that is particularly impressive is its
statement for the MacBook. In this witty example, Apple emphasizes how lightweight its product is (its
biggest differentiator), while also speaking to how advanced its technology is. That Apple...always "light
years ahead" (even in marketing.
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• Spotify - “Soundtrack of your life
In another oldie, no longer in use, this value proposition eloquently tells you what Spotify's product is all
about. It wants to bring music into your life and it does that by being available on-the-go in your
smartphone or on a desktop

2. Unique Selling Proposition

- a statement of differentiation
- an expression of what sets a brand, product or service apart from that of competitor
- a feature or a characteristic of a product that makes it stand out of the masses and allows
the product to look more exclusive/valuable to the customer and are statements that
describe the unique bene ts a product offers its purchasers

On pages 32-34 of your book, you can nd the discussion on how you can craft your business’
unique selling proposition.

II. Conceptualizing the Product or Service Offering (Pages 35-36

The concept must be compelling and unique to the targeted customers as it should contain
attributes or features desired by the target market that make up he product’s main value
proposition.

III. Designing, Prototyping, and Testing the Product (Page 36

IV. Implementing, Organizing, and Financing (Page 36-37)

PART 2: GETTING TO KNOW THE MARKET

What is a market
- A market is a place where two parties can gather to facilitate the exchange of goods and services.
The parties involved are usually buyers and sellers. The market may be physical like a retail outlet,
where people meet face-to-face, or virtual like an online market, where there is no direct physical
contact between buyers and sellers. (Kenton, 2020
- Alternatively, the term may also be used to describe a collection of people who wish to buy a
speci c product or service

PARTICIPANTS IN AN INDUSTRY
1. Rivals / Competitors
- companies in the same or similar industry which offers a similar produc
or service

Competition in the Market

What is the purpose of assessing competition in the
market
The purpose of the competitive analysis is to determine the
strengths and weaknesses of the competitors within your market,
strategies that will provide you with a distinct advantage, the
barriers that can be developed in order to prevent competition
from entering your market, and any weaknesses that can be
exploited within the product development cycle. This is done by
pro ling your competitors. Questions like, “How erce is the
competition? “Should I still enter this market even if it’s
saturated?” “Do I have a competitive edge?” are addressed by
assessing competition in the market you are to enter. Image source : Illustration of people searching and browsing

CHECKPOINT #1
What are some biggest rivalries in the business industry?
Identify at least 5 pairs of rivalries n business (e.g. Pepsi and
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Coca Cola) and brie y discuss how both rivals maintain the competition in the
market. Use the separate answer sheet for your answers. 15 points (3 points
each: 1 point-Identi ed Rivalry; 2 points-Explanation)

VALIDATION OF CONSUMER CONCERNS

Entrepreneur, know thy market!It is good to estimate numbers such as market
size, market share and the other general market assumptions, but he best way
to fully understand the customers is to ask them about their speci c thoughts
and desires.

What are the four most common market research methodologies? (Pages 42-52)
1. Sales Data Mining
- involves exploring and analyzing large blocks of information to glean meaningful patterns and
trends

2. Focus Group Discussion

One of the most common qualitative research tools.FGD can be used to address substantive issues such as:
• Understanding consumers’ perceptions, preferences, and behavior
• Obtaining impressions on new product concepts;
• Generating new ideas about older products;
• Developing creative concepts and copy material for advertisements;
• Securing price impressions;
• Obtaining preliminary consumer reaction to specific marketing programs.

Advantage:
• Access to where questionnaires are impossible
• Access to people in real life situations
• Good for explaining meaning and context
• Can be strong on validity

Disadvantage:
• Can be viewed as subjective
• Time Consuming
• Ethical principles contravened
• High potential for role conflict for practitioner

3. Observation Technique
- one of the most preferred ad practical methods of generating ideas because the researcher
documents the behavioral patterns of people or of objects or events without necessarily requiring
them to participate in the process

4. Survey
- the process of getting answers from a sample of respondents derived from a particular population

BUSINESS TEAM TASK # 2

NOW THAT YOUR GROUP HAS A CLEAR VISION FOR WHAT YOU WANT YOUR
BUSINESS TO BE, LET’S FIND OUT HOW YOUR CHOSEN TARGET MARKET
WILL ACCEPT YOUR PRODUCT BY CONDUCTING A SURVEY
Refer to page 49-52 of your book and read the discussion on Survey Research.
Afterwards, brainstorm with your group mates and go through the steps in
conducting a research survey as a team. Be guided with the basic rules that have to
be followed in question formulation. Please submit your outputs and wait for my
Image source : Characters of people chatting through
approval before proceeding with conducting the actual survey
smartphones illustration by rawpixel.com

THE MARKETING PLAN

What is the Marketing Mix?
The marketing mix is a widely accepted strategic marketing tool that combines the original 4Ps
(product, price, place and promotion) with the additional 3Ps (people, packaging, and process) in
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formulating marketing tactics for a product or service. A
strategy must be constructed for each of the 7Ps, and all
strategies must be blended with the strategies of the
other elements. Thus, the marketing mix is only as good
as its weakest part. For example, an excellent product
with a poor distribution system could be doomed to
failure. An excellent product with an excellent
distribution system but an inappropriate price is also
doomed to failure. Found on the next page are the
factors to consider with each element of the
Marketing Mix

Your marketing strategy affects the way you run your

entire business, so it should be planned and developed in
consultation with your team. It is a wide-reaching and
comprehensive strategic planning tool that
• describes your business and its products and service
• explains the position and role of your products and services in the marke
• pro les your customers and your competitio
• identi es the marketing tactics you will us
• allows you to build a marketing plan and measure its effectiveness

COMPONENTS OF THE MARKETING

MIX - THE 7Ps
1. Product
Marketing strategy typically starts with the product. Marketers
can’t plan a distribution system or set a price if they don’t
know exactly what product will be offered to the market. The
product should do what the customer wants or needs it to do
and it should live up to the expected level of quality. Apply
concepts from the previous module here and evaluate your
reasons for choosing the product for our chosen target market.
Below are the reasons why customer buys a certain product or
service
A. Core Bene ts - major facto
B. Physical Characteristic
C. Augmented Bene ts - additional bene t

2. Pric
The product should be sold at a price which the target audience deems to be good value for money.
When calculating product price, we must take into account all the costs entailed in producing,
promoting and delivering that product. If production and promotion are set to carry relatively high
costs, this should be re ected in an appropriately high price. The superior approach, then, is to identify
the price your target customer is used to paying for products and services similar to your own, taking
into account your costs and the pro t margin required
Did you know? Customers usually make buying decisions based upon more than just the lowest price. Here are
some reasons customers will pay more
• Your product is easier to bu
• Your product arrives more quickl
• Your product has a “must have” featur
• Your customer service is more friendl
• The price difference isn’t worth the hassl
• Your product has a lower cost of ownershi

CHECKPOINT #2
Identify the seven(7) different pricing strategies used by businesses and in your
own words, brie y describe each. Afterwards, decide on what you think is the

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most effective pricing strategy for your product and business from BTT#1. Use the separate worksheet
for your answers.
30 Points.
Identi cation of Pricing Strategies - 3 points each (1 point-Name of Strategy; 2 points-De nition)
Pricing Strategy for the Business - 9 points (5 points-Main Idea; 4 points-Supporting Ideas)

3. Plac
The product should be available where the customer expects to nd
it. A strategic location depends on the nature of the business and the
primary target market.One of the major objectives of the
entrepreneur for place is to provide customers with pleasant
experience in buying the product or availing the services. The place,
whether on-site or online, should also be presentable, appealing, and
catchy. Below are some examples. In a cyber location, the
entrepreneur must use Web analytics data to understand Web site
performance (e.g., number of visitors, duration of their stay on the
Web site, or the frequently visited contents)

4. Promotio
The product should be promoted to the appropriate audience via appropriate channels, using
advertising methods which resonate with that audience. These channels may include (and are not
limited to)
•brandin
•advertisin
•P
•social medi
•content marketin
•in uencer marketin
•sales managemen
•promotion
The product/service bene ts and features highlighted
through promotion should align with the audience’s most
compelling requirements. Promotion may differ somewhat in
tone and content from channel to channel – but never in
such a way as to create contradictions

Brand Management
- the activity of supervising the promotion of a busines
- a function of marketing that uses techniques to increase the perceived value of a product line or
brand over tim
- Effective brand management enables the price of products to go up and builds loyal customers
through positive brand associations and images or a strong awareness of the brand
- Developing a strategic plan to maintain brand equity or gain brand value requires a comprehensive
understanding of the brand, its target market, and the company's overall vision

How does brand management work

Brands have a powerful in uence on customer engagement, competition in the markets, and
the management of a company. A strong brand presence in the market differentiates a
company’s products from its competitors and creates brand af nity for a company’s products
or services

Let us look into an example of how businesses promote their business through
symbols and a few words.

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I am sure promotions like these below excite you, so as a future business owner, you
should come up with these kinds of tactics as well!

Did you know?

Twitter takes the crown of the world’s cheapest logo. The
original and highly recognizable logo only cost $15! The
owners brought the logo of iStock from a logo designer called
Simon Oxley – who sadly only received $6 after iStock took
their cut! Although recently Twitter has undergone a makeover, the iconic blue bird still
remains the focus. Another fun fact – this little bluebird even has a name. He is aptly named
Larry Bird.

5. Peopl
The team involved in the delivery of the project should possess the skills and qualities needed to
ensure its success (barring unforeseen mishaps)
This is perhaps especially true of customer-facing staff, whose communication and behavior will greatly
impact the audience’s perception of the brand. You could well have developed the best product of its
kind – but if your customer-facing people are off-putting to customers, the project will not reach its full
commercial potential

6. Packaging/ Physical evidenc

Packaging is how the product or service is presented to the customers. It
is the overall identi cation (look and feel) of the product or service. The
nal P refers to the physical context and paraphernalia (such as receipts,
“thanks for ordering” cards, con rmation emails and PDF invoices) that
come along with the product. In order to reinforce the product’s and the
seller’s credibility, these components should exhibit the qualities
customers expect of them, based on up-to-date industry standards
In a nutshell, “Physical evidence” is all about ensuring every component
involved with the product adheres to the same brand values as the
product itself. This creates a consistent, convincing experience for the
customer.

7. Proces
The processes involved in a product’s delivery will signi cantly
affect the customer’s experience, level of satisfaction, and
lifetime value to your business. These processes may include (and
are not limited to)
• Website user experienc
• Delivery tim
• Delivery methods and servic
• In-store wait tim
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• Communicating with customer suppor
• Aftercar
In addition to the processes used to deliver a product or service, we must also have processes in place
for when something goes wrong – for example, the allocation of appropriate compensatory gifts for
customers who’ve had a bad experience.

Why is the Marketing Mix important

Every target market requires a unique marketing mix to satisfy the needs of the target
customers and meet the rm’s goals
• Your marketing mix provides a roadmap for your business objectives. It keeps you on track, while keeping
your target market at the forefront of your mind.Your marketing mix will help you make sure your business is
marketing the right product, to the right people, at the right price and time
• All the elements of the marketing mix in uence each other and make up the business plan for a company.
When handled right, can give it a great success. But handled wrong and the business could take years to
recover.

Click on the link for an example of the Marketing Mix: https://youtu.be/oMZMrnNWY-A

BUSINESS TEAM EXERCISE # 3

Work with your team and come up with the marketing mix of of your business.
You may refer to pages 59-73 of you book and the example I have provided as
your guide. Your inputs here as well as those from Business Team Exercises 1 &
2 will be used for your performance task. Use a short bond paper for your
output

KEY TAKEAWAYS:
• In this module, you have understood the importance of marketing as a critical success factor in starting
and running a business venture. A strategic marketing plan aids an entrepreneur to select the
appropriate target market, understand customers deeper, and communicate with them in a channel
and language they will easily understand.
• You learned the process of market segmentation and its importance in targeting a speci c group of
customers, rather than targeting everyone not just to save on cost but also to suit communication to the
right market.
• When done strategically and methodically, marketing research produces data that will lead the
entrepreneur to success.
• When used effectively, the marketing mix will achieve the two most important objectives of an
entrepreneur: customer delight and pro tability.

ENTREP TAKEAWAY FOR THE REST OF YOUR DAYS

— END OF MODULE 3–

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PERFORMANCE TASK
BUSINESS PROPOSAL

You and your teammates have been invited to a virtual business launching
bazaar organized by a group of prospective investors who are willing to
fund small businesses. ( R ) Your team is happy and hopeful to bag an
investment offer because upon assessment of your financials, you will be
needing more money for your capital.( S ) You are tasked to share and
present your initial ideas to the group of investors using MS Powerpoint
and MS Teams ( A ) to help them assess if your ideas have opportunities to
grow and prosper. You need to make them agree with your business
proposal before you start crafting a formal business plan and implement in
the future ( G ). They have given some guide questions on how you can
present your business proposal ( P ). Your output will be evaluated
according to originality and creativity, content, and overall presentation. ( P
)

Your PowerPoint presentation should have the following contents:

1. Problem addressed by your product/service
2. Introduction of Business
- Business Name
- History
- Background & Nature of Business
3. Product/Service Offered
- Brief Description of the Product
- Identify Target Market & Reasons why you chose that segment of the market
- Marketing Mix
*Product - Design/Prototype of the Product
*Price - Selling price of the
*Place - Location of the Business
* Promotion - Value Proposition and Unique Selling Proposition,
Ways by which you can advertise/promote your business
*Packaging - Materials to be used for packing
*People - Introduction of each member and their roles
*Process - Customer Service
4. Capital - Projected/assumed amount of money needed to be invested
5. 5 Goals of the Business Enterprise

You will be presenting your business proposal as a team during our online
class via MS Teams.

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Your output will be graded using the following rubric:

Criteria Outstanding Satisfactory Developing Beginning Rating
10 8 6 4
Critical Thinking Thoughtfully and Identifies relevant Usually justifies Misinterprets
accurately arguments, results data, gives
interprets results, justifies results, unjustified
shows in-depth offers reasons arguments
understanding of
major ideas
Quality of Covers topic Includes essential Includes most Lacks essential
Information thoroughly, information, essential information
includes details includes some information,
that support the supporting details details are
topic somewhat
sketchy
Organization Well organized Organized, some Some Not organized,
and coherent, topics are out of organization, topics make no
topics are in logical order, topics jump sense
logical sequence, conclusions are around,
includes clear generally clear conclusions are
introduction and unclear
conclusions
Visual Design Visually Visually attractive, Text is sometimes Text is very
appealing, clean text is easy to hard to read, difficult to read,
simple layout, text read, colors sometimes layout is cluttered
is easy to read, enhance graphics or and confusing
graphics enhance readability, special effects
understanding of graphics and distract from
ideas special effects do understanding
not distract from
understanding
ideas
Oral Presentation Well prepared, Engages Clear and Not clear, not
speaks clearly, audience, fluid understandable, understandable
makes eye delivery, uses uses limited
contact with different approach delivery
audience, delivers other than simply techniques
with ease, invites reading screen,
questions invites questions
Total

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BIBLIOGRAPHY

Morato, E. A. (2016). ENTREPNEURSHIP:First Edition. Sampaloc, Manila: REX Book

Store.

Batisan, R. S. (2016). Entrepreneurship. Makati City: DIWA Learning Systems Inc.

Kuratko, D. F. (2012). Entrepreneurship: An Introduction. Singapore, Singapore:

Cengage Learning Asia Pte Ltd.

Grant, M. (2019). Brand Management. Retrieved from https://

www.investopedia.com/terms/b/brand-management.asp

James, G. (2020). 10 Reasons Customers Will Pay More. Retrieved from https://
www.inc.com/geoffrey-james/the-10-reasons-customers-pay-more.html

15 Logo Facts About Famous Brands. (n.d.). Retrieved from https://geek.design/

logo-facts/#mailmunch-pop-926721
Kolowich, L. (2020). 26 Companies With Really Catchy Slogans & Brand Taglines.
Retrieved from https://blog.hubspot.com/marketing/brand-slogans-and-
taglines

The 7 Ps of Marketing. (n.d.). Retrived from https://www.targetinternet.com/

the-7-ps-of-marketing-what-are-they-and-how-are-they-used/

Pricing Products and Services. (n.d.). Retrieved from https://

www.business.qld.gov.au/running-business/marketing-sales/marketing-
promotion/pricing
Gregory, A. (2019). 19 Small Business Goals You Can Set This Year. Retrieved from
https://www.thebalancesmb.com/small-business-goals-4126116
Rouse, M. (2020). Positioning Statement. Retrieved from https://whatis.techtarget.com/
definition/positioning-statement

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