Republic of the Philippines

Department of Education
REGION VIII – EASTERN VISAYAS
Division of Northern Samar
CATARMAN NATIONAL HIGH SCHOOL
Senior High School Department

ENTREPRENEURSHI
P
Quarter 3 – Module 4
7 P’s of Marketing and
Branding
After reading this module, you should be able to:

1.describe the Concept of Marketing Mix;

2.identify the seven P’s in the Marketing Mix;

3.identify the commonly used brand strategy; and
4.developed a Brand Name.

CORAZON P. DINO
Subject Teacher

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 Lesson The 7 P’s of
1 Marketing

Marketing Mix is a set of controllable and connected variables that a

company gather to satisfy a customer better than its competitor. It is also
known as the “Ps” in marketing. Originally, there were only 4Ps but the
model has been continually modified until it became 7P’s. The original 4 P’s
stands for product, place, price and promotion. Eventually, three elements
have been added, namely: people, packaging and positioning to comprise
the 7 P’s.

The 7 Ps marketing mix is a marketing tool and strategy that will help
your business to develop its marketing and business success by focusing on
specific areas. Historically, the marketing mix was just 4Ps, but 3 more were
added and it is now suggested that all 7 are considered as part of your
marketing and promotional strategy, particularly if you are a service
provider. www.multiliteraciesproject.com

What is the 7 P’s of marketing mix used for?

These 7 Ps are predominantly used by businesses as a focal point and
as part of an overall marketing strategy.

They can assist with:

 Defining areas of success in the business that can be replicated and
built on
 Defining issues in the business that are holding you back from being
more profitable, productive or successful
 Setting objectives and targets – so you can move strategically towards
your goals
 Competitive analysis – your business position in the market against
your competitors
 SWOT analysis – analysis of your business strengths, weaknesses,
opportunities and threats
https://economictimes.indiatimes.com/definition/marketing-mix

The 7 P’s of Marketing Mix

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 the product will be offered to the market.

Product refers to any goods or services that are produced to meet the
consumers’ wants, tastes and preferences. An example of goods includes
tires, MP3 players, clothing and etc. Goods can be categorized into
business goods or consumer goods. A buyer of consumer goods may not
have thorough knowledge of the goods he buys and uses. An example of
services includes hair salons and accounting firms. Services can be divided
into consumer services, such as hair styling or professional services, such as
engineering and accounting.

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2. PLACE. It represents the location where the buyer and seller exchange
goods or services. It is also called as the distribution channel. It can include
any physical store as well as virtual stores or online shops on the Internet.

Stages of Distribution Channel

Channel 1 contains two stages between producer and consumer - a

wholesaler and a retailer. A wholesaler typically buys and stores large
quantities of several producers' goods and then breaks into bulk
deliveries to supply retailers with smaller quantities. For small retailers
with limited order quantities, the use of wholesalers makes economic
sense.

Channel 2 contains one intermediary. In consumer markets, this is

typically a retailer. A retailer is a company that buys products from a
manufacturer or wholesaler and sells them to end users or customers.
In a sense, a retailer is an intermediary or middleman that customers
use to get products from the manufacturers.

Channel 3 is called a "direct-marketing" channel, since it has no

intermediary levels. In this case the manufacturer sells directly to
customers.

3. PRICE. The price is a serious component of the marketing mix. What do

you think is the meaning of a Price?

In the narrowest sense, price is the value of money in exchange for a

product or service. Generally speaking, the price is the amount or value
that a customer gives up to enjoy the benefits of having or using a product
or service. One example of a pricing strategy is the penetration pricing. It is
when the price charged for products and services is set artificially low in
order to gain market share. Once this is attained, the price can be higher
than before. For example, if you are going to open a Beauty Salon, you need
to set your prices lower than those of your competitors so that you can
penetrate the market. If you already have a good number of market share
then you can slowly increase your price.

4. PROMOTION. It refers to the complete set of activities, which

communicate the product, brand or service to the user. The idea is to
attract people to buy your product over others. Advertising, Personal
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Selling, Sales Promotion, Direct Marketing, and Social Media are examples
of promotion.

5. PEOPLE. Your team, a staff that makes it happen for you, your
audience, and your advertisers are the people in marketing. This consists of
each person who is involved in the product or service whether directly or
indirectly.

People are the ultimate marketing strategy. They sell and push the
product. People are one of the most important elements of the marketing
mix today. This is because of the remarkable rise of the services industry.
Products are being sold through retail channels today. If the retail channels
are not handled with the right people, the product will not be sold. Services
must be first class nowadays. The people rendering the service must be
competent and skilled enough so that that the clients will patronize your
service.
Therefore, the right people are essential in marketing mix in the current
marketing scenario.

6. PACKAGING. It is a silent hero in the marketing world.

Packaging refers to the outside appearance of a product and how it is

presented to the customers. The best packaging should be attractive
enough and cost efficient for the customers. Packaging is highly functional.
It is for protection, containment, information, utility of use and promotion.

7. POSITIONING. When a company presents a product or service in a way

that is different from the competitors, they are said to be “positioning” it.

Positioning refers to a process used by marketers to create an image in

the minds of a target market.
Solid positioning will allow a single product to attract different customers
for not the same reasons. For example, two people are interested in buying
a phone; one wants a phone that is cheaper in price and fashionable while
the other buyer is looking for a phone that is durable and has longer battery
life and yet they buy the same exact phone.

These are just ideas and you will for sure come across other questions
and thoughts that are relevant to your business.

Why not get your team together (or you partner / best friend if you are
a sole trader) and have some fun by trying to really cover all the individual
elements of your business. Be constructively critical and also realistic with
what you can achieve within certain timeframes.

Why the marketing mix is still used from the 80’s until now?
The marketing mix concept may seem dated as it was developed in the
1980s and we now live and work in a rapidly changing commercial
environment.

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 Lesson Develop a Brand However, it remains effective as
2 Name the logic behind each of the 7 Ps
remains constant yet they are flexible enough to be able to be adapted to
suit the new style of communications, for example social media.

* Please refer to your answer sheet and answer Activity 1

Brand Name is a name, symbol, or other feature that

distinguishes a seller's goods or services in the marketplace. Your
brand is one of your greatest assets because your brand is your
customers' over-all experience of your business. Brand strategy is
a long-term design for the development of a popular brand in
order to achieve the goals and objectives. A well-defined brand
strategy shakes all parts of a business and is directly linked to
customer needs, wants, emotions, and competitive surroundings

Experts believe that a good brand can result in better loyalty

for its customers, a better corporate image and a more relevant
identity.

As more customers continue to differentiate between

emotional and experienced companies, a brand may be the first
step forward in your competition instead of price points and
product features. The question is, can you build a brand which
truly talks to your audience?

Branding is a powerful and sustainable high-level marketing

strategy used to create or influence a brand. Branding as a
strategy to distinguish products and companies and to build
economic value to both customers and to brand owners, are
described by Pickton and Broderick in 2001.

Commonly Used Branding Strategy

1) Purpose
"Every brand makes a promise. But in a market in which
customer confidence is little and budgetary observance is great,
it’s not just making a promise that separates one brand from
another, but having a significant purpose," (Allen Adamson).

How can you define your business' purpose? According to Business

Strategy Insider, purpose can be viewed in two ways:

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 a) Functional. This way focuses on the assessments of success
in terms of fast and profitable reasons. For example, the
purpose of the business is to make money.

b) Intentional. This way focuses on fulfilment as it relates to

the capability to generate money and do well in the world.

2) Consistency
The significant of consistency is to avoid things that don’t
relate to or improve your brand. Consistency aids to brand
recognition, which fuels customer loyalty.

3) Emotion
There should be an emotional voice, whispering "Buy me".
This means you allow the customers have chance to feel that they
are part of your brand.

You should find ways to connect more deeply and emotionally

with your customers. Make them feel part of the family and use
emotion to build relationships and promote brand loyalty.

4) Flexibility
Marketers should remain flexible to in this rapidly changing
world. Consistency targets at setting the standard for your brand,
flexibility allows you to adjust and differentiate your approach
from your competition.

According to Kevin Budelmann, "Effective identity programs

require sufficient consistency to be identifiable, but sufficient
variation to keep things fresh and human" so if your old tactics
don't work anymore, don't be afraid to change. It doesn’t mean it
worked in the past it may still work now.

5) Employee Involvement
It is equally important for your employees to be well versed in
how they communicate with customers and represent the brand of
your product

6) Loyalty
Loyalty is an important part of brand strategy. At the end of the
day, the emphasis on a positive relationship between you and your
existing customers sets the tone for what potential customers can
expect from doing business with you.

7) Competitive Awareness

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 Do not be frightened of competition. Take it as a challenge to
improve your branding strategy and craft a better value in your
brand.

* Please refer to your answer sheet and answer Activity 2