4. • Refers to a mean, mode or tools used by
the entrepreneur to position the product
in the target market segment to efficiently
and effectively deliver it to the customers
and to convince them about the benefits
that they will derive from buying the
product.
5. • Also known as "Ps" in the
marketing.
• Originally, there were only 4Ps but
the model has been continously
modified until there became 7Ps.
6. 4Ps- 7Ps
Original 4Ps stands for:
1. Product
2. Place
3. Price
4. Promotion
Eventually, 3 elements has added namely:
1. People
2. Packaging
3. Positioning
7. GROUP ACTIVITY (15 minutes)
•Create your own understanding
about the given 7Ps, define, give
example, give the importance or
relation into marketing mix.
Discuss it with your group/pair and
present your collaborate work in
front of the class.
8. 7PS IN THE MARKETING
CUSTOMER
DRIVEN
STRATEGY
POSITIONING
PRODUCT
PRICE
9. PRODUCT
• Refers to the tangible goods or intangible
service offered by the business to the target
consumers.
• Product is the heart of the marketing mix.
10. 2 Basic Entrepreneurial
Relative To The Product
1. Product is only produced once
there is existing need or want.
2. Product must satisfy the need or
want better than the competing
products.
11. PLACE
• Refers to the place where the target
consumers are.
• Entrepreneur must establish his/her
business or products in most
strategic place or location.
12. PRICE
•Producers apply higher prices for
the products to gain more profits
while customers want lower
prices to the products.
13. PRICE
• The concept of pricing relative to the
marketing mix. This can be viewed from 2
opposing perspective namely:
1. Perspective of the entrepreneur who
produces the product.
2. Opposing perspective of the customers
who ultimately buy the product.
14. Q: when the supply is high
how do you price your
product? Is it High price or low
price? Explain.
15. Availability Of Competing
Products
• When the supply of competing
product is high, usually the prices
are low. Producers tend to
gradually pull down the prices
when the supplies are high and
adopt a reverse mechanism when
the price is low.
16. How do you Cost
the Product?
•Refers to the amount spent
by the manufacturer in view
of expected future benefit.
17. 3 Elements Of Cost
1. DIRECT LABOR
2. FACTORY OVERHEAD
3. DIRECT MATERIALS
•They must be present in all instances in
the process of determining the price of
the product.
18. DIRECT LABOR
Refers to the wages paid to the
workers who directly involve the
manufacturing product.
21. PROMOTION
• Refers to the mode of conveying the
presence and attributes of the product to
the target consumers.
• Creates an awareness to the product in the
minds of consumers and elicits their desire
to buy it.
22. • Promotion utilizes the most
appropriate media to reach the
consumers. This includes the
following:
1. ADVERTISING
2. PUBLICITY
3. PERSONAL SELLING
4. SALE PROMOTION
5. DIRECT MARKETING
23. PEOPLE
• Refers to individual employees or
workers who are directly involved in
the production, marketing and sale of
the product or service.
• The entrepreneur must be sure to
hire the right person for the position.
24. PACKAGING
• Refers to the process of putting
the product in a package or
container.
• The packaging of a product must
be user-friendly, that is, it must be
easy to open, handle and store.
25. POSITIONING
•Is an aditional element in the
modified model of the
marketing mix.
•Refers to the place occupied by
the product in the minds of
consumers.
