CONCEPT PRESENTATION

Marketing Mix It is about putting the right product or a combination

thereof in the place, at the right time, and at the right price. 
A challenge to a budding entrepreneur is to ask the following key questions at the
onset.
1. Product - What is product or service is the most appropriate for the opportunity,
and why will customers buy or avail them
A product is any physical good, or service, or idea that is created by an
entrepreneur or an innovator in service the needs of the customer and
addressing their existing problems. 

Three-level concept of product or services summarizes the reasons that a

customer decides to buy a product or avail the services.
Level 1: Core benefits of the products or services
             Example, a customer buys a coffee because he or she wants to
feel energetic and alert the whole day.
Level 2: Physical Characteristics of the Product or Service
             Example, the customer can choose a coffee with a more appealing
packaging or more aromatic smell
Level 3: Augmented Benefits of a product or service
Augmented benefits are only additional benefits: a customer will still get the
core benefits of a product or service even without the augmented benefits 
Example: the customer can choose a coffee product that comes with a loyalty
card, so that when he or she accumulates, say, 10 coffee drinks, he or she
will be able to get a coffee drink.
2. Place - What location is best suited for the business where there are more
potential customers?Can they conveniently transact on-site or online?How is the
process of distribution of products or performance of services?
Place  refers to a location or the medium of transaction. Place also covers the
product distribution and the whole business logistics. The logistic side for
products should cover production, ordering, receiving raw materials or
finished goods from suppliers, storage, reorder points, and transportation
system. One of the major objectives of the entrepreneur for place is to provide
customers with pleasant experience in buying the product or availing the
service so that they will keep on coming back whether on-site or online.
3. Price -What is the most appropriate price, and what pricing strategies will be
used for the target customers?
Price is the peso value that the entrepreneur assigns to a certain product or
service after considering its costs, competition, objectives, positioning, and
target market. It is the only P in the 7P that generates revenue for the
business. 
4. Promotion - What is the most effective advertisement or combination of
advertisements, and which advertising tool should be used to drive awareness
and increase sales?
Promotion refers to any type of marketing communication used to inform or
persuade target audiences of the relative merits of a product, service, brand
or issue. The aim of promotion is to increase awareness, create interest,
generate sales or create brand loyalty.
There are three objectives of promotion. These are:
a. To present information to consumers and others.
b. To increase demand.
c. To differentiate a product.
https://en.wikipedia.org/wiki/Promotion_(marketing)#:~:text=In%20marketing
%2C%20promotion%20refers%20to,%2C%20service%2C%20brand%20or
%20issue.&text=The%20aim%20of%20promotion%20is,sales%20or
%20create%20brand%20loyalty.
5. People - What type of people need to be hired? What are the basic skills needed
for the job? What leadership style will be applied by the entrepreneur? 
This aspect refers to those who are employed by the company to: design,
develop, and manufacture the products; do market research to establish
demand and determine customer needs; manage the supply chain to ensure
timely delivery; provide support services; and serve as touch points for
customer interaction among others.
6. Packaging- What is the best packaging for the product that is attractive enough
to customers and cost-efficient at the same time? What physical evidence does
the entrepreneur need to set up so as to sell the service?
Packaging’s ultimate goal is to entice customers to purchase the product or
service. 
Packaging refers to the way your product or service appears from the outside.
Packaging also refers to your people and how they dress and groom. It refers
to your offices, your waiting rooms, your brochures, your correspondence and
every single visual element about your company. Everything counts.
Everything helps or hurts. Everything affects your customer's confidence
about dealing with you.
https://www.entrepreneur.com/article/70824
7. Process - What is the most compelling feature of the product or the business
that will make a difference in the lives of the customers? What sets the product
or service from the rest?How do people think and talk about you when you're not
present? How do people think and talk about your company?
For the purposes of the marketing mix, process is an element of service that
sees the customer experiencing an organization’s offering. It’s best viewed as
something that your customer participates in at different points in time
Going on a cruise – from the moment that you arrive at the dockside, you are
greeted; your baggage is taken to your room. You have two weeks of services
from restaurants and evening entertainment, to casinos and shopping. Finally,
you arrive at your destination, and your baggage is delivered to you. This is a
highly focused marketing process, and is an example of the importance of
process in enabling delivery of the customer proposition. Another way of
 looking at this example is that there is end to end service support, which has
enabled transactions between the company and its customers.
http://www.marketingteacher.com/process-marketing-mix/#:~:text=Processes
%20include%20direct%20activities%20and%20indirect
%20activities.&text=For%20the%20purposes%20of%20the,at%20different
%20points%20in%20time.

FUNDAMENTALS OF BRAND MANAGEMENT

Brand management is a function of marketing that uses techniques to increase the
perceived value of a product line or brand over time. Effective brand management
enables the price of products to go up and builds loyal customers through positive
brand associations and images or a strong awareness of the brand
https://www.investopedia.com/terms/b/brand-management.asp
Brand  -The marketing practice of creating a name, symbol or design that identifies
and differentiates a product from other products
The foundation of your brand is your logo. Your website, packaging and promotional
materials--all of which should integrate your logo--communicate your brand.
https://www.entrepreneur.com/encyclopedia/branding
Brand is a symbol of promise or assurance from the entrepreneur that what it
purports to the customers will happen. A good brand not just entices customers to try
the product but makes them loyal to it.
Branding is the process of integrating the strategies formed by the marketing mix to
give an identity to the product or service. The goals of branding include the following

1. establishing to target customers that the business is reliable and trustworthy and
that the product or service is the superior solution to their current problem
2. differentiating with competitors
3. driving customer loyalty and retention.
Brand name is major differentiator of the entrepreneur against the competitors. To
be different and catchy, a brand name must possess the following characteristics:
 Unique
 Extendable
 Easy to remember
 Can describe the benefits of the product or service
 Can be converted to other dialects or languages in case the
entrepreneur expands to other territories
 Can describe a product category
 Can describe concrete quality
 Positive and inspiring

Gamatero, Albert N..(2019). Entrepreneurship. Makati City, Philippines: Diwa

Source:
Learning System,Inc.