SENIOR HIGH SCHOOLENTREPRENEURSHIPQuarter 1 – Module 8THE MARKETING MIX (7PS) IN RELATIONTO THE BUSINESS OPPORTUNITYASIAN TECHNOLOGICAL SKILLS INSTITUTE, INC.Purok 2, Barangay CobangbangDaet, Camarines Norte1
This module enables you to explore the world of marketingspecifically on marketing mix. It is the first move taken whenstarting to plan for a product or service. The tasks in thismodule will let you discover more about the components ofmarketing mix and the 7Ps. Here, you will be taught how youcan use them to develop a successful marketing strategy.At the end of the lesson, you are expected to:1. Describe the elements of the 7P’s in marketing mix.2. Apply critical thinking skills about marketing conceptsthrough written activities.3. Demonstrate creativity and self-governing skills.Learning Competency:Describe the Marketing Mix (7Ps) in relation to the businessopportunity(CS_EP11/12ENTREP-0h-j-10)The 7 Ps marketing mix is a marketing tool and strategythat will help your business to develop it’s marketing andbusiness success by focusing on specific areas. Historically, themarketing mix was just 4Ps, but 3 more were added and it isnow suggested that all 7 are considered as part of yourmarketing and promotional strategy, particularly if you are aservice provider.|page 1DO NOT WRITE ANYTHING ON THIS MODULE,YOU MAY ANSWER ON YOUR OWN ANSWER SHEETI.INTRODUCTION:II.OBJECTIVES:III. LEARNINGCONCEPTSQuarter 1 | Module 8 |The Marketing Mix (7ps) In Relation to the Business Opportunity
What is the 7 p’s marketing mix used for?These 7 Ps are predominantly used by businesses as afocal point and as part of an overall marketing strategy.They can assist with:Defining areas of success in the business that can bereplicated and built onDefining issues in the business that are holding youback from being more profitable, productive orsuccessfulSetting objectives and targets – so you can movestrategically towards your goalsCompetitive analysis – your business position in themarket against your competitorsSWOT analysis – analysis of your business strengths,weaknesses, opportunities and threatsThe 7 PsThe original 4Ps of the marketing mix tool are:1. Product2. Price3. Place|page 2Quarter 1 | Module 8 |The Marketing Mix (7ps) In Relation to the Business Opportunity
4. PromotionThe additional 3Ps added, are:5. People6. Process7. Physical EvidenceUsing the 7PsYou can use the 7 Ps as headings for discussion, of whichthe findings and conclusions can then be added to yourmarketing strategy, which should feature as part of your overallbusiness plan.Some of the things you can focus on under each of the 7Pheadings, include:PRODUCT – this could be your SERVICE if you are aservice providerIs your product branded effectively?