ENTREPRENEURSHIP

First Quarter - Module 7

RECOGNIZE THE IMPORTANCE
OF MARKETING MIX IN THE
DEVELOPMENT OF
MARKETING STRATEGY
 Entrepreneurship – Grade 12
Supplementary Learning Material
Quarter 1 – Module 7

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DEVELOPMENT TEAM OF THE MODULE

Writer : Winnie L. Cruz
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The following are some reminders in using this module:
1. Handle this module with care. Use a separate sheet in answering the
exercises.
2. Read the directions carefully before doing each task.
3. Activities in this module can be done individually or with the help of your
teacher, home learning partner or knowledge source partner.
4. Finish this module for the intended week.
5. Return this module to the authorized person in charge of retrieval.

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
 1

ABM
ENTREP

Name :___________________________ Grade/Section: ___________________Date:___________________

ENTREPRENEURSHIP
QUARTER 1 – MODULE 7

Competency: RECOGNIZE THE IMPORTANCE OF MARKETING MIX IN THE DEVELOPMENT OF

MARKETING STRATEGY

OBJECTIVES:
After this lesson, you should be able to:
1. define marketing mix;
2. explain the importance of marketing mix; and
3. appreciate the essence of marketing mix in relation to marketing strategy.

KEY CONCEPTS

The American Marketing Association (www.ama.org) defines the term

Marketing as an activity that involves the creation and distribution of products that
consumers or clients will find indispensable.

The marketing mix is a vital tool in coming up with the fitting or appropriate
approach and how it is carried out through operational tactics.

The 4Ps of marketing are product, place, promotion, and price. On the other
hand, the 7Ps of marketing include product, place, promotion, price, packaging,
positioning and people.

1. PRETEST
Directions: Read each question carefully. Choose the letter that corresponds to your chosen answer.

1. What term involves the process of satisfying customers’ needs or wants and acquiring profit
on the part of the seller?
a) Market
b) Marketing
c) Marketing mix
d) Marketing strategy

2. What is the standard marketing mix that has been used for many years by entrepreneurs?
a)4Ps of marketing
b)9Ps of marketing
c)10Ps of marketing
d)12Ps of marketing

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
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3. Which of the following components is not included in the 4Ps of marketing?
a) Price
b) Place
c) People
d) Product
4. Which of these statements best explains the given sentence?
Marketing mix serves as a tool in battling with possible business glitches or challenges.
a) Marketing mix provides answers to every difficulty.
b) Marketing mix helps in foreseeing future business problems.
c) Marketing mix helps in confronting future problems of the enterprise.
d) Marketing mix facilitates the identification of marketing approaches for the business.
5. Which of these statements best explains the term marketing mix?
a) Marketing mix is a process that provides an avenue for buying and selling activity.
b) Marketing mix is a tool in choosing the appropriate promotion for a particular product.
c) Marketing mix helps entrepreneurs in identifying the right product that they will offer to
the buying public.
d) Marketing mix is a process of coming up with the right combination of components and be
able to devise the right strategy for the business.

2. REVIEW

In the previous lessons, you learned about how to analyze market need, how to screen proposed
solution/s based on viability, profitability and customer requirements and how to select the best
product or service that will meet the market need. Do you still remember them? Let us see how well
you have understood the lessons you had by answering these two questions.

Directions: Read the following questions and answer them correctly and concisely.

1. What, for you, are the 2 most essential factors in analyzing the market need?
2. What important considerations should you take into account when dealing with sources
of market opportunities?

3. INTRODUCTION OF NEW LESSON

What is Marketing?

Have you ever asked yourself why a company sells more than other companies despite their
similarity in terms of the products they sell? Have you ever thought why there are organizations which
are good at enticing people to buy their goods or services? The answer to these questions lies on the
marketing of a certain enterprise. According to the Balance Small Business (www.thebalancesmb.com),
Marketing is the process of motivating or stimulating prospective clients to buy products or services.
Additionally, marketing involves a procedure by which organizations provide goods and services that
customers find valuable and develop rapport or connection with customers in order to gain profit. To
put it simply, marketing encompasses the process of satisfying a customer’s needs or wants and the
acquisition of profit on the part of the seller. Moreover, it deals with motivating customers to buy goods
or services by creating value in the products being offered.

Value, Process and Satisfaction in Marketing

There are three important terms that you should bear in mind in the study of Marketing, and
these are value, process, and mutual satisfaction. You have to remember that marketing is not
something that one can perform overnight, because it entails a detailed, step-by-step procedure. It goes
without saying that it requires a wide range of research, promotion, and distribution of products. The
seller should make certain that he creates value in every product that is sold. This way, customers will
be satisfied while the seller will also be pleased not only with the profit that he will acquire but more so
the satisfaction of being able to fulfill the needs or wants of a client.

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
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Marketing Mix

To be able to encourage people to buy goods and services, it is important for entrepreneurs to
come up with marketing strategies. These strategies encompass the myriad of schemes or approaches
that may be used by companies in influencing their clients or customers to buy their goods or services.
Therefore, marketing mix is a tool that can be used in coming up with the right combination of
approaches that will encourage customers to buy goods and services.

The 4Ps constitute a standard marketing mix. These are the product, promotion, price and
place. The 4Ps of marketing mix has been very famous to most businessmen. However, the concept of
marketing mix has evolved, hence, the introduction of the 7Ps of marketing mix. The figure below
presents this modification on the tools that can be used to strategize marketing in a company. The 7Ps
are product, price, place, promotion, packaging, positioning, and people.

What does the illustration of the 7Ps of Marketing meant to you? What does it tell you? You
are right! The presentation tells you that as a future entrepreneur, you have to make certain that you
evaluate each component of the marketing mix in order to determine the best combination in your
general marketing tactic. A detailed presentation of the marketing mix will be discussed on the next
module.

Importance of Marketing Mix

Marketing mix plays a crucial role in the success of every business. There are a lot of
explanations and discussions in websites and books with regard to this. We can actually have a long
list that explains the essence of marketing mix, but the following are the vital ones when we speak of
this concept.
1. It serves as a guide in enhancing one’s business. Since every entrepreneur looks into every detail
about the different Ps, he/she is able to think deeply on how to improve on every aspect of the
enterprise.
2. It facilitates the development of a sound combination of the components. When a
businessman checks on the products he offers, he also looks into its price or how to promote them.
Therefore, when one studies one component of the marketing mix, he also examines the other parts.
This way, a powerful and appropriate combination of the different Ps are put together for the
improvement of the marketing strategies.
3. It provides business with a good sense of differentiation. Every businessman wants to be
different in such a way that this provides a worthy distinction for his business. This is the reason
why entrepreneurs study the products of their competitors. For example, Ms. Betina Sison, an
entrepreneur, examines the marketing mix of her competitors. Through this practice, she will be
able to see the advantages and disadvantages of her competitors’ strategy. Providing her a clear
picture of this, she can devise a better marketing mix to make her business different from that of
the others.
4. It serves as a tool in battling with possible business glitches or challenges. When a
businessman analyzes every aspect or component of the marketing mix, surely, he will be able to
foresee possible difficulties that the business might be face. Hence, he will be able to find solutions
or develop intervention activities in confronting future problems.

Marketing Mix and Marketing Strategy

At this point, you already know that marketing mix is a tool utilized by entrepreneurs to obtain
a desired reaction from their customers. And that is for them to patronize the products being sold by
the sellers or businessmen. Therefore, marketing mix is used to influence customers’ minds and
decisions. And how is this done? When the right combination of product, price, promotion and place
is analyzed and identified, planning and execution of marketing efforts will follow. When the marketing
mix is well crafted, determination of marketing tactics or strategies will follow. Hence, entrepreneurs
MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1
Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
 4
should carefully look into the components of the marketing mix and appreciate its essence to be able to
develop sound marketing strategies.

4. ACTIVITIES

ACTIVITY NO.1
Directions: Make a concept map showing the importance of marketing
mix. Compare your answer with your partner or groupmates in class.

ACTIVITY NO.2

Directions: Create two infographics that will encapsulate the things you learned in this module.
The first infographics should present the definition of the term marketing mix. The second one
should explain and illustrate the essence of marketing mix in relation to marketing strategies.
The criteria/rubrics to be used in grading your outputs will be provided by your teacher.

ACTIVITY NO.3
Directions: Read the given scenario and answer the questions that follow.
Rovie Lazo, a fresh graduate, works as a marketing staff at ABC Company. His friend, Azriele
Jimenez, works in XYZ Inc. as a marketing staff as well. One Saturday afternoon, the two had a
coffee in a famous restaurant in Mandaluyong and talked about their personal lives and work
settings. After a while, Azriele excused herself and went to the washroom to refresh herself. The
folder on Azriele’s table caught Rovie’s attention. Without hesitation, he opened it and found
confidential documents about the marketing analysis of XYZ Inc. The strategic plans and
marketing tactics are all enumerated and explained in detail on the manuscript. Rovie took
pictures of the documents using his cellphone. He thought that this would be a good resource,
since he is currently analyzing the marketing strategies of his company.
Questions:
1. What can you say about Rovie’s taking pictures of Azriele’s documents?
2. If you were Rovie, will you do the same thing as what he did? Explain your answer.
3. What are your thoughts about Azriele’s leaving her things on the table? Will you have done
the same thing knowing that you are meeting a trusted friend?

5. CHECK YOUR UNDERSTANDING

Directions: Read each statement carefully. Write TRUE if the sentence is
correct and TRUE if it is incorrect.

1. Marketing mix is important in developing the right marketing strategies of a company.

2. In the study of Marketing, the satisfaction of buyers or customers is essential while the
satisfaction of the buyer or entrepreneur is put aside.
3. The 4Ps of marketing includes price, promotion, packaging and product.
4. The marketing mix provides a roadmap in creating powerful marketing strategies.
5. The marketing activities of every company involve a long-term process, since analysis of such
cannot be performed overnight.

6. POSTTEST

Directions: Read each question carefully. Choose the letter that corresponds to the best answer.

1. Which of these statements about marketing mix best explains the given sentence?
It provides business with a good sense of differentiation.
a) Marketing mix helps in promoting a different or unique product.
b) Marketing mix facilitates in developing a unique service that will be offered to the public.
c) Marketing mix provides a detailed picture of how one company differs from another in terms of
the products being offered.

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
 d) Marketing mix can be used to determine how a company is similar with the others and thereby 5
coming up with a strategy to be different from the rest.
2. What term involves the process of developing rapport or connection with customers in the hope of
gaining profit?
a) Market
b) Marketing
c) Marketing mix
d) Marketing strategy
3. Which of the following components is not included in the 4Ps of marketing?
a) Price
b) Place
c) Product
d) Positioning
4. What is the standard marketing mix that has been used for many years by entrepreneurs?
a) 4Ps of marketing
b) 9Ps of marketing
c) 10Ps of marketing
d) 12Ps of marketing
5. Which of these statements best explains the term marketing mix?
a) Marketing mix facilitates the transaction between buyer and seller.
b) Marketing mix is a process that provides an avenue for promotion and advertisement.
c) Marketing mix helps entrepreneurs in identifying the appropriate price for a particular product.
d) Marketing mix is a tool that company uses to influence their consumers to buy goods and
services.

REFERENCES:

https://www.thebalancesmb.com/marketing-in-business-2948349
https://www.ama.org/the-definition-of-marketing-what-is-marketing/
https://www.teamstudy.com/resources/chapter-1-marketing-creating-and-capturing-customer-
value-yI2DVLB4
https://www.thebalancesmb.com/marketing-in-business-2948349
https://www.linkedin.com/pulse/importance-marketing-mix-your-strategy-part-1-warren-a-hill
https://www.marketing91.com/importance-marketing-mix/
https://www.linkedin.com/pulse/importance-marketing-mix-your-strategy-part-1-warren-a-
hill#:~:text=The%20marketing%20mix%20is%20a,in%20your%20overall%20marketing%20approach.

So, Real C. Principles of Marketing. Quezon City. Vibal Group Inc. 2016
Morato, Eduardo, Jr. Entrepreneurship. Manila. Rex Bookstore 2016

A message for you:

Congratulations for finishing Module 7! You deserve a star! Keep
it up!  

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy
 For inquiries or feedback, please write or call:

Department of Education – Schools Division Office-

Mandaluyong

Calbayog Street, Highway Hills, Mandaluyong City 1500

Telefax: (632) 79552557

Email Address: sdo.mandaluyong@deped.gov.ph

●www.depedmandaluyong.org

MELC 7 Quarter 1st Week No. 7 Code: TLE_ICTAN11/12EM-Ia1

Competency: Recognize the Importance of Marketing Mix in the Development of Marketing Strategy