entrepreneurship

1. Recognize the importance
of marketing mix in the
development of marketing
strategy.

3. 1. Are these brands familiar? ___
2. Are you using these brands of
products?______
3. Are these available in the market?_______
4. How do these products able to reach
you?________
5. Are these products affordable?_______
6. In what situations do companies of these
products offer promos?______

4. 1. In business, what does the picture suggest?
2. Is business similar to playing chess? Why? Why not?
3. Do you think you could only win the game by
chances?

5. 4. Is a strategic plan important in order for the
products/services to succeed in the market place? Why?
5. In your opinion, how do you create a win-win
situation despite of massive competition?

6. The 7 Ps marketing mix is a marketing tool
and strategy that will help your business to
develop it‟s 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

7. What is the 7 p‟s marketing mix used
for?
These 7 Ps are predominantly used
by businesses as a focal point and as
part of an overall marketing
strategy.

8. Marketing- refers to activities a company
undertakes to promote the buying or selling of a
product or service. Marketing includes
advertising, selling, and delivering products to
consumers or other businesses.
Marketing mix- Refers to the set of
actions, or tactics, that a company uses to
promote its brand or product in the
market.

9. Marketing strategy- Is a long-term, forward-
looking approach and an overall game plan of any
organization or any business with the
fundamental goal of achieving a sustainable
competitive advantage by understanding the
needs and want of customers.

10. 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

11. The 7 Ps
The original 4Ps of the marketing mix tool are:
1. Product 2. Price 3. Place 4. Promotion
The additional 3Ps added, are:
5. People 6. Process 7. Physical Evidence

12. PRODUCT-Refers to what you are selling,
including all of the features, advantages and
benefits that your customers can enjoy from
buying your goods or services.
– this could be your SERVICE if you are a service
provider
Is your product branded effectively?
How do your customers rate the quality of your
product?

13. PRODUCT-
Is there recurrent negative feedback about the
same thing?
Are there improvements that could be made?
Is your product brand strong?
Do you offer a guarantee?
Do you have availability or stock?
Could you take on more customers or orders?

14. PRICE- This refers to your pricing strategy for your products
and services and how it will affect your customers.
How does your product compare when it comes to the
market price?
When was the last time you reviewed your pricing?
When was the last time you altered your price in-line with
inflation, or market supply and demand?
Is your pricing model clear and easy to communicate? Do
you know your profit margin on each product you offer?
Do you provide any added-value to your offering?
Do you offer the most appropriate payment methods for
the customer?
Do you offer credit facilities?

15. PROMOTION- These are the promotional activities you use to
make your customers aware of your products and services,
including advertising, sales tactics, promotions and direct
marketing.
What marketing communications do you have?
Do they need updating?
Do they give the right messages?
How could you refine your sales process?
What PR activity are you doing?
Do you have a marketing budget? Should it stay the same, or
change this year?
Do you network to promote your business?

16. PLACE - Is the place where your product or
service is actually sold.
Is your product available in the place where
your customers shop?
Is your product visible to your target market?
Are you visible on social media?

17. PEOPLE- Refer to the staff and salespeople who work for your
business, including yourself.
Do you have the right people to sell your product / service?
Do you have the right amount of marketing support?
Are the right people in your team, in the right roles?
Do you need more, or less resources?
Could you outsource some of your work to reduce
commitment on costs?
Do you have the right culture within the team?
Do you have a good recruitment, training and appraisal
system for staff?

18. PROCESS- refers to the processes involved in
delivering your products and services to the
customer. It is also about being 'easy to do
business with'.
Is your sales process efficient?
Are your processes customer focused?
Do you have a good process for dealing with
technology issues?
Have you established systems for as many things as
possible within your marketing and sales process?

19. PHYSICAL EVIDENCE --refers to everything your
customers see when interacting with your business.
Is your product packaging reflective of the quality of
the product? This could apply to the way a service is
delivered, including any physical documentation
What is the online experience if the product is
delivered digitally?

20. PHYSICAL EVIDENCE
Is your product packaging reflective of the quality of
the product? This could apply to the way a service is
delivered, including any physical documentation
What is the online experience if the product is
delivered digitally?