LETTHE MARKET KNOW

YOU BETTER
ENTREPRENEURSHIP
 MARKETING & THE 7 P’S
• Marketing is about creating and
accumulating customers
• Marketing plans are designed to capture
market share and defeat competitors.
• How to gain costumers?
1. Product
2. Price
3. Place
4. Promotion
5. Packaging
6. Positioning
7. People
 WHAT IS A
PRODUCT?
• is a tangible good or
the intangible service
that the enterprise
offers to its
customers in order to
satisfy their needs and
to produce their
expected results
 WHAT IS A PRODUCT?
• A tangible product is a physical object that can be perceived by
touch such as a building, vehicle, or gadget. Most goods are
tangible products.
• An intangible product is a product that can only be perceived
indirectly such as an insurance policy.
• Products are often identified with their brand names to
distinguish them from other product in the market.
• The products need to exist for the other elements of the mix
to happen.
GENERAL TYPES OF PRODUCTS
• Breakthrough products
• Differentiated products
• Copycat products
• Niche products
• Breakthrough products  Offer completely new
performance benefits.
• Differentiated products  Claiming a new space in the
mind of the customer different from the spaces occupied by
existing products
 The performance benefits may be close to the existing
product but there would be additional benefits on special
aspects of the product.
• Copycat Products Will not make much
impression on the consumer’s mind. The marketer
should make up for this lack of mental space by
offering more physical space in the shelves, lower
price, easier access, promotional freebies and the like.
• Niche Products  Do not intend to compete
directly with the giants. They are products with lower
reach, lower visibility, lower price and lower top of
mind. They are content to play minor roles in specific
and smaller market segment
GROUP ACTIVITY
Product or Service Conceptualizing and Prototyping
• Conceptualize your product or service that will make
potential buyers take interest
• Build a prototype of your product. Example: If your product
is a food item, try to come up with the best tasting item
• Conduct a food taste among your classmates and
document their comments, suggestions, and
recommendations.
GROUP PRESENTATION
• Identification of your product offering. ( Kinds of
products)
• Presentation of your Actual product.
NOTE:
You can present either:
Actual physical
Powerpoint
Print Out
If you think your place is also essential part of your product,
include it on your presentation.