SHS

GRADE
12

ENTREPRENEURSHIP
QUARTER 1 – MODULE 5

MARKET RESEARCH
 What I Need to Know

Congratulations! You have finished many assigned activities in the previous modules.
Welcome to Module five (5). This module introduces the Marketing Mix, more popularly
referred to as the 7P’s of Marketing. It is a set of controllable and interrelated variables
composed of product, place, price and promotions that a company assembles to satisfy a target
group better than its competitor. Marketing Mix strategy is selecting and applying the best
potential means to achieve the organization’s vision and gain competitive edge.

This module provides context and foundational knowledge. It is divided into two
lessons.
Lesson 1 The Marketing Mix (7P’s) in relation to the business opportunity
CS_EP11/12ENTREP-0h-j-10
Lesson 2 Develop a Brand Name
CS_EP11/12ENTREP-0h-j-11

After reading this module, you should be able to:

1. describe the Concept of Marketing Mix;

2. identify the seven P’s in the Marketing Mix;
3. identify the commonly used brand strategy; and
4. developed a Brand Name.

You start discovering a new world – the world of business. Who knows, one day you
may grow into one of the successful entrepreneurs in our country can be proud of. However,
you have to:

• Reading the texts carefully

• Follow the directions and/or instructions in the activities and exercises diligently
• Answer all the given test and exercises

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 What I know

Before you start studying this module, take the following test to find out how much you
already know about this topic. Let’s check your prior knowledge, skills, and understanding of
basic concepts related to the Seven P’s in the Marketing Mix and Branding. This will guide
you in understanding the concept.
Now, are you ready? Before proceeding, let’s see what you already know. This test is
particularly prepared to determine your prior knowledge of the lessons you are about to
encounter.

Multiple Choice
Direction: Encircle the letter of the best answer.
1. It is a set of controllable and interrelated variables composed of product, place, price
and promotions that a company assembles to satisfy a target group better than its
competitor.
a. Price b. Marketing Mix c. Product d. Packaging
2. The amount that a customer pays for to enjoy it.
a. Price b. Marketing Mix c. Product d. Packaging
3. An item that is produced to satisfy the needs of a certain group of people.
a. Price b. Marketing Mix c. Product d. Packaging
4. It is a tangible product. Its example includes tires, MP3 players, clothing and etc.
a. Branding b. Positioning c. Goods d. Place
5. It can be intangible or tangible as it can be in the form of services or goods.
a. Price b. Marketing Mix c. Product d. Packaging

6. The way your product or service appears from the outside.

a. Price b. Marketing Mix c. Product d. Packaging
7. A marketing model that modifies the 4Ps model.
a. Packaging b. 7 P’s Model c. Marketing Mix d. People
8. Responsible for every element of your sales, marketing strategies, and activities.
a. Packaging b. 7 P’s Model c. Marketing Mix d. People
9. How a business creates awareness in the market?
a. Place b. Brand Name c. Services d. Promotion

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10. It is intangible. Its example includes hair salons and accounting firms.
a. Place b. Brand Name c. Services d. Promotion
11. The ultimate marketing strategy.
a. 7 P’s Model b. Marketing Mix c. People d. Branding
12. Where your product or service is actually sold.

a. Place b. Brand Name c. Services d. Promotion

13. The place occupied by products in the heart and minds of the consumers.
a. Branding b. Positioning c. Goods d. Place
14. A name, symbol, or other feature that distinguishes a seller's goods or services in the
marketplace.
a. Brand Name b. Positioning c. Branding d. Place
15. A powerful and sustainable high-level marketing strategy used to create or
influence a brand.
a. Brand Name b. Positioning c. Branding d. Place

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 LESSON The Marketing Mix (7P’s) in Relation
1 to the Business Opportunity

What’s In

In the previous lesson, you already know about a data collection. It is an important factor
of any research study. The three (3) ways of collecting data are Survey, Interview, and Focus
Group Discussion (FGD). This will help entrepreneurs in gathering information about their
target market.

What’s New

Find the P’s

Directions: Think of words or terms related to the topic that starts with letter “P” and
find the words in the grid horizontally, vertically, or diagonally. Write the Words or Terms on
the space provided and write something about the word using your own words.

1. ___________________
2. ___________________
3. ___________________
4. ___________________
5. ___________________
6. ___________________
7. ___________________

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 What is It

Marketing Mix is a set of controllable and connected variables that a company gather
to satisfy a customer better than its competitor. It is also known as the “Ps” in marketing.
Originally, there were only 4Ps but the model has been continually modified until it became 7P’s.
The original 4 P’s stands for product, place, price and promotion. Eventually, three elements
have been added, namely: people, packaging and positioning to comprise the 7 P’s.

The 7 P’s of Marketing Mix

1. PRODUCT

Marketing strategy typically starts with the product. Marketers can’t plan a distribution
system or set a price if they don’t know exactly what the product will be offered to the market.

Product refers to any goods or services that are produced to meet the consumers’ wants,
tastes and preferences. An example of goods includes tires, MP3 players, clothing and etc.
Goods can be categorized into business goods or consumer goods. A buyer of consumer goods
may not have thorough knowledge of the goods he buys and uses. An example of services
includes hair salons and accounting firms. Services can be divided into consumer services,
such as hair styling or professional services, such as engineering and accounting.

2. PLACE

Place represents the location where the buyer and seller exchange goods or services.
It is also called as the distribution channel. It can include any physical store as well as virtual
stores or online shops on the Internet.

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 STAGES OF DISTRIBUTION CHANNEL

Channel 1 contains two stages between producer and consumer - a wholesaler and a retailer. A
wholesaler typically buys and stores large quantities of several producers' goods and then
breaks into bulk deliveries to supply retailers with smaller quantities. For small retailers with
limited order quantities, the use of wholesalers makes economic sense.
Channel 2 contains one intermediary. In consumer markets, this is typically a retailer. A
retailer is a company that buys products from a manufacturer or wholesaler and sells them to end
users or customers. In a sense, a retailer is an intermediary or middleman that customers use to
get products from the manufacturers.
Channel 3 is called a "direct-marketing" channel, since it has no intermediary levels. In this
case the manufacturer sells directly to customers.

3. PRICE

The price is a serious component of the marketing mix. What do you think is the
meaning of a Price?

In the narrowest sense, price is the value of money in exchange for a product or service.
Generally speaking, the price is the amount or value that a customer gives up to enjoy the
benefits of having or using a product or service. One example of a pricing strategy is the
penetration pricing. It is when the price charged for products and services is set artificially low
in order to gain market share. Once this is attained, the price can be higher than before. For
example, if you are going to open a Beauty Salon, you need to set your prices lower than
those of your competitors so that you can penetrate the market. If you already have a good
number of market share then you can slowly increase your price.

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4. PROMOTION

Promotion refers to the complete set of activities, which communicate the product,
brand or service to the user. The idea is to attract people to buy your product over others.
Advertising, Personal Selling, Sales Promotion, Direct Marketing, and social media are
examples of promotion.

5. PEOPLE

Your team, a staff that makes it happen for you, your audience, and your advertisers
are the people in marketing. This consists of each person who is involved in the product or
service whether directly or indirectly.
People are the ultimate marketing strategy. They sell and push the product. People are
one of the most important elements of the marketing mix today. This is because of the
remarkable rise of the services industry. Products are being sold through retail channels today.
If the retail channels are not handled with the right people, the product will not be sold. Services
must be first class nowadays. The people rendering the service must be competent and skilled
enough so that that the clients will patronize your service.
Therefore, the right people are essential in marketing mix in the current marketing
scenario.

6. PACKAGING

Packaging is a silent hero in the marketing world. Packaging refers to the outside
appearance of a product and how it is presented to the customers. The best packaging should be
attractive enough and cost efficient for the customers. Packaging is highly functional. It is for
protection, containment, information, utility of use and promotion.

7. POSITIONING

When a company presents a product or service in a way that is different from the
competitors, they are said to be “positioning” it. Positioning refers to a process used by
marketers to create an image in the minds of a target market.
Solid positioning will allow a single product to attract different customers for not the
same reasons. For example, two people are interested in buying a phone; one wants a phone
that is cheaper in price and fashionable while the other buyer is looking for a phone that is
durable and has longer battery life and yet they buy the same exact phone.

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 LESSON
2 Develop a Brand Name

Brand Name is a name, symbol, or other feature that distinguishes a seller's goods or
services in the marketplace. Your brand is one of your greatest assets because your brand is
your customers' over-all experience of your business. Brand strategy is a long-term design for
the development of a popular brand in order to achieve the goals and objectives. A well-defined
brand strategy shakes all parts of a business and is directly linked to customer needs, wants,
emotions, and competitive surroundings

Experts believe that a good brand can result in better loyalty for its customers, a better
corporate image and a more relevant identity.

As more customers continue to differentiate between emotional and experienced

companies, a brand may be the first step forward in your competition instead of price points
and product features. The question is, can you build a brand which truly talks to your audience?

Branding is a powerful and sustainable high-level marketing strategy used to create or

influence a brand. Branding as a strategy to distinguish products and companies and to build
economic value to both customers and to brand owners, are described by Pickton and Broderick
in 2001.

Commonly Used Branding Strategy

1. Purpose
"Every brand makes a promise. But in a market in which customer confidence is little
and budgetary observance is great, it’s not just making a promise that separates one brand from
another, but having a significant purpose," (Allen Adamson).

How can you define your business' purpose? According to Business Strategy
Insider, purpose can be viewed in two ways:

a. Functional. This way focuses on the assessments of success in terms of fast

and profitable reasons. For example, the purpose of the business is to make
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 money.
b. Intentional. This way focuses on fulfillment as it relates to the capability to
generate money and do well in the world.
2. Consistency
The significant of consistency is to avoid things that don’t relate to or improve
your brand. Consistency aids to brand recognition, which fuels customer loyalty.
3. Emotion
There should be an emotional voice, whispering "Buy me". This means you allow
the customers have chance to feel that they are part of your brand.
You should find ways to connect more deeply and emotionally with your
customers. Make them feel part of the family and use emotion to build relationships
and promote brand loyalty.
4. Flexibility
Marketers should remain flexible to in this rapidly changing world. Consistency
targets at setting the standard for your brand, flexibility allows you to adjust and
differentiate your approach from your competition.
According to Kevin Budelmann, "Effective identity programs require sufficient
consistency to be identifiable, but sufficient variation to keep things fresh and human"
so if your old tactics don't work anymore, don't be afraid to change. It doesn’t mean it
worked in the past it may still work now.
5. Employee Involvement
It is equally important for your employees to be well versed in how they
communicate with customers and represent the brand of your product.

6. Loyalty
Loyalty is an important part of brand strategy. At the end of the day, the emphasis on a
positive relationship between you and your existing customers sets the tone for what potential
customers can expect from doing business with you.
7. Competitive Awareness
Do not be frightened of competition. Take it as a challenge to improve your branding
strategy and craft a better value in your brand.

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 What’s More

Draw to Survive

Direction: Create a Concept Map for the 7P’s of Marketing Mix in the box provided.

Rubrics for Scoring

Score Description
15 The illustration of the concept map is clear and complete.
12 The illustration of the concept map is complete.
9 The illustration of the concept map is lacking 1.
6 The illustration of the concept map is lacking 2
3 The illustration of the concept map is lacking 3.

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 What I Have Learned

Marketing mix constitutes of the 7P’s in case of products – product, price, place and

promotion. In case of services, it constitutes of 3 more P’s – people, packaging and positioning.

All P's should be compatible in marketing mix. The price is compatible with the

product's placement. The product must be consistent with the promotion. In general, all P’s are

connected intrinsically.

As a result, when you make a marketing mix, it becomes a chain of strong bonds. Then

these connections will lead you to lengthen the chain. Whenever you plan to add or change

existing features, you need to see the general image which helps create a fresh product in

marketing mix.

Branding is absolutely critical to a business because of the overall impact it makes on

your company. Branding can change how people percept your brand, it can drive new business

and increase brand awareness.

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 What I Can Do

Paste the P’s

Look for newspapers or magazines. Find and identify pictures related to the P’s in
Marketing Mix. Cut out the pictures, sort and paste them on the box, then write a short
description on the line next to the picture.

PICTURE 1

PICTURE 2

PICTURE 3

PICTURE 4

Rubrics for Scoring

Score Description
15 The table is complete with pictures and the descriptions are correct.
12 The table is lacking one (1) picture and the descriptions are correct.
9 The table is lacking two (2) pictures and the descriptions are correct.
6 The table is lacking three (3) pictures and the descriptions are correct.
3 The table is lacking one (4) picture and the descriptions are correct.

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The Power of Color!

I am going to show you some colors. For each one, write down the FIRST company
or product that comes in to your head when you see the color.

What’s the FIRST BRAND you think of when you see these colors?

RED-

BLUE-

BLACK-

YELLOW-

ORANGE-

GREEN-

Rubrics for Scoring

Score Description
The diagram is complete with the right brand written in its corresponding
15 color.
The diagram is lacking one (1) with the right brand written in its corresponding
12
color.
The diagram is lacking two (2) with the right brand written in its
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corresponding color.
The diagram is lacking three (3) with the right brand written in its
6
corresponding color.
The diagram is lacking four (4) with the right brand written in its corresponding
3
color.

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 Assessment

Identification
Direction: Write the word or phrase that is being described or completes the thought of each
statement.

1. It is a set of controllable and interrelated variables composed of

product, place, price and promotions that a company assembles to satisfy a target group better
than its competitor.
2. The amount of money that a customer pays for to enjoy it.
3. An item that is built or produced to satisfy the needs of a certain group
of people.
4. It determines your firm’s profit and survival.
5. It can be intangible or tangible as it can be in the form of services or
goods.
6. The way your product or service appears from the outside.
7. A marketing model that modifies the 4Ps model.
8. Responsible for every element of your sales, marketing strategies, and
activities.
9. It refers to how a business creates awareness in the market.
10. It claims a new space in the mind of the customer different from the
spaces occupied by existing products.
11. The ultimate marketing strategy.
12. Where your product or service is actually sold.
13. The place occupied by products in the heart and minds of the
consumers.
14. A name, symbol, or other feature that distinguishes a seller's goods or
services in the marketplace.
15. A powerful and sustainable high-level marketing strategy used to
create or influence a brand.

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 Additional Activities

Pictionary Style
Direction: Follow the task guide below.

TASK GUIDE:

Who is your
Target Market? What is your
Suitable Name for
Product?
(Age, gender, the Product
(description)
income)

Suitable Color for Suitable shape for Suitable Material for

the Packaging the Packaging the Packaging

Justify your Brand

Sketch the Product, Create a Brand
Name using the
sketch the logo Name
Branding Strategies

Task 1. Invent a new product and give it a name. Sketch it.

Task 2. Once you have chosen the name for your product write a short explanation.
In your explanations you should describe your product and explain how and why you
chose its name.

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 Your Sketch

Here are some useful phrases that may help you with your tasks and explanations:

My Target Market is/are______________________________________. I would like to

introduce my new product ____________________________________________
__________________________________________________________________. I choose
the name ______________________________ because ______________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
______________________________________________________________________.

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 Rubrics for Scoring
Score Description

The imaginary product is illustrated with a unique the brand name. There is an
15 explanation describing the product and its name?

The imaginary product is illustrated with a brand name. There is an explanation

12 describing the product and its name

The imaginary product is illustrated with a brand name. There is an explanation

9 describing the product.

6 The imaginary product is illustrated with a brand name.

3 The imaginary product is illustrated.

This is the end of Module five (5). You did a great job! It is Indeed an achievement.
Congratulations!!! Hard work pays off and you really proved it!!! Try to learn more about
Entrepreneurship in the next Modules. Thank you for being patient, honest, and committed.

QUARTER CHALLENGE 1

Multiple Choice
Direction: Encircle the letter of the best answer.

1. The entrepreneurs who create new ideas are called?

A. Innovative
B. Imitating
C. Fabian
D. Drone
2. The entrepreneur who lives on the labor of others is called?
A. Drone
B. Fabian
C. Imitating
D. Innovative
3. These are entrepreneurs who are to follow the path shown by innovative entrepreneur.
A. Innovative
B. Imitating
C. Social Entrepreneurs
D. Fabian
4. Which of the following is NOT a function of an entrepreneur?
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 A. Skills management
B. Risk taking
C. Conduct research
D. Make no changes with his product
5. Entrepreneur means:
A. Risk taker
B. To undertake
C. To research
D. To improve standard of living
6. It is a personality factor which means “doing things even before
being told”
A. proactive
B. perseverance
C. persuasion
D. initiative
7. It is a personality factor which means convincing customers to buy the product.
A. Proactive
B. Persuasion
C. Self-confidence
D. Risk-taker
8. Which of the choices is NOT part of the environmental factors?
A. Political
B. Weather condition
C. climate
D. family background of the manager
9. All except one does NOT belong to the group?
A. Unfair trade practices
B. Strikes
C. Political protest
D. Product
10. The entrepreneur who are skeptical about the changes in the company is called?
A. Fabian
B. Social entrepreneur
C. Drone
D. Imitating
11. The following are the forces competing within the industry except one:
A. Potential new entrants and Substitute Products
B. Buyers and Suppliers
C. Rivalry among existing firms
D. Needs and Wants
12. They are the one that provides something that is needed or wanted.
A. Buyers C. Buyers
B. Competitors D. Sellers
13. It refers to the physical environment, societal environment, and industry environment
where the business operates.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. External Environment D. Entrepreneurial heart frame
14. They are the one who enters something.
A. Buyers C. Suppliers
B. new entrants D. Sellers
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For questions 15 to 16 refer to the following statements:
A. Substantial capital requirement.
B. Substitute products are not readily available in the market
C. Difficulty in accessing distribution channels.
D. The product or service is unique.
E. Characteristics of the products or services.
F. Increased capacity
15. In Potential New Entrants the intensity of its threat will be affected by the presence of the
following barriers.
A. A and C C. A only
B. A, B, C and D D. All of the above
16. In rivalry among existing Firms the industry is attributable to the following factors.
A. E and F C. A and B
B. A, B, C and D D. All of the above
17. Which of the following includes the industry environment of the business?
A. Competitors C. Creditors
B. Customers D. All of the above
18. It is the process of considering, evaluating, and pursuing market- based activities that are
believed to be advantageous for the firm.
A. Opportunity seeking C. Opportunity screening
B. Opportunity seizing D. Sources of opportunity
19. This is essential to opportunity seeking which allows the entrepreneur to see things in a
positive and optimistic light in the midst of crisis or difficult situations.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame
20. It is the ability of entrepreneur that can sense without using the five senses, also known as
intuition.
A. Entrepreneurial mind frame C. Entrepreneurial heart flame
B. Entrepreneurial gut game D. Entrepreneurial heart frame

21. What is the function of Value Proposition?

A. use to power up sales
B. customers buying habits
C. convince customer to purchase a particular product or services.
D. provide value to your customers
22. Give example in promotion using Value Proposition and Unique Selling Proposition.
A. fruit shake stand
B. with the slogan “Langhap Sarap”
C. ordinary sari-sari store
D. multinational business
23. Select type of customer requirement
A. service responsibility C. service requirement
B. service oriented D. service fulfillment
24. Considered favorable indicators for doing business in that particular location.
A. structure of the segment
B. capability of the business
C. size and growth of the segment
D. segmentation marketing
25. What is market size?
A. tangible things that can be seen.
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 B. The most important part to the success of the company
C. Size of arena where the entrepreneur will play their business
D. another variation of segmentation marketing.
26. This refers to how you sell your products or services to you customer.
A. Value proposition C. Selling proposition
B. Marketing concept D. Unique selling proposition
27. Service requirement thing or product not able to touch but customer can feel the
fulfillment.
A. Intangible C. Service
B. Tangible D. Output
28. Tips for the entrepreneur on how to create an effective unique selling proposition to the
target customers, except.
A. Completeness of proportion
B. Identify and rank the uniqueness of the product or services
characteristic.
C. Very specific
D. Keep it short and simple
29. __________will determine entrepreneur possible customers in one locality.
A. Market design C. Market strategy
B. market size D. market research
30. The following variable to consider in behavioral segmentation, except.
A. perception C. reaction
B. brand concept D. benefits
31. It is the most common way to gather primary research with the use of questionnaires or
interview schedule.
A. Interview C. survey
B. focus group discussion D. data gathering
32. It is the traditional method of data collection which is normally done on a face-to-face
manner with the respondents.
A. personal interview C. survey
B. focus group discussion D. data gathering
33. It refers to a type of focus group discussion where it obtains information on general
attitudes, understand the circumstances under which customers might require your product,
or service, understand their desired outcomes
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
34. It is a type of FGD where customers go to get similar information, services or products and
what attracts them to those resources.
A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
35. A data gathering technique where it can be moderated to group interviews and
brainstorming sessions that provide information on user’s needs and behaviors.
A. personal interview C. survey
B. focus group discussion D. data gathering
36. It refers to information gathered directly from the respondents who answered set of
questions.
A. primary research C. survey
B. secondary research D. data gathering
37. It is a type of discussions in FGD if trade-offs have to be made among various customer
needs.
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 A. trend explanation C. feature prioritization
B. exploratory D. comparative analysis
38. A data gathering technique where it can be done via direct mail, over the phone, internet
or e-mail.
A. data gathering C. focus group discussion
B. survey D. personal interview
39. It is the process of gathering, analyzing and interpreting the information about the product
or the services to be offered for sale in the market, the market and about past, present and any
potential consumers for the products.
A. data gathering C. secondary research
B. primary research D. market research
40. It is an important aspect of any type of research study, it can impact the results of a study
and ultimately lead to valid or invalid results.
A. data collection C. secondary research
B. primary research D. market research
41. Which one is not a P in Marketing Mix?
A. Price B. People C. Participant D. Promotion
42. Which statement supports Marketing Mix?
A. The marketing mix is also known as the “M’s” in marketing.
B. Marketing Mix is a set of controllable and connected variables that a
company gathers to satisfy a target group better than its competitor.
C. There are only 4 P’s in Marketing Mix.
D. None of the above
43. Select the best definition of Product.
A. A product is an item that is built or produced to satisfy the needs of a
certain group of people, it can be intangible or tangible.
B. A product is an item that is built or produced primarily to gain profit; it
can be intangible or tangible.
C. A product is an item that is built or produced to compete in the world of
business; it can be intangible or tangible.
D. None of the above
44. Choose the best statement that applies in Consumer Goods.
A. A buyer of consumer goods must have complete knowledge of the
goods he buys and uses.
B. After-sale service is of paramount importance in the case of all
consumer goods.
C. The market for consumer goods is affected by technological changes.
D. A buyer of consumer goods may not have thorough knowledge of the
goods he buys and uses.
45. What factors would change in the distribution channel if there will be no Intermediary like
producer and consumer?
A. Nothing will take place, since it has no intermediary levels. In this case
the manufacturer cannot sell to customers.
B. Direct-marketing will take place, since it has no intermediary levels in
this case the manufacturer sells directly to customers.
C. The company will utilize Technology to reach the customers.
D. All of the above
46. What is the advantage of Penetration Pricing?
A. A firm has three options and these are to price lower, price the same or
price higher than competitors
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 B. A firm can create the perception that the products must have a higher
value than competing products because the prices are higher.
C. The company earns more through cross-selling products along with a
basic core product.
D. The company will gain market share because the price charged for
products and services is set artificially low.
47. Promotions refer to the partial set of activities, which communicate the product, brand or
service to the user. The idea is to make people be aware, attract and induce to buy the product,
in preference over others. Find the error.
A. partial set of activities
B. which communicate the product
C. idea is to make people aware, attract and induce to buy the product
D. No error
48. How would you promote a product?
A. By offering Free Gifts, Free Samples, Free Trial, Customer Contests,
Special Pricing
B. By offering Brochure, Catalogues, Fliers, Newsletters
C. By offering Post cards, Coupons, Email, Phone calls, Text messages
D. None of the above
49. The following are interpretation of the word Brand except
A. a legal instrument C. a business
B. a logo D. a vision
50. How can you define your business' purpose?
A. Purpose can be defined in two ways: Functional which focuses on the evaluations of
success in terms of immediate and commercial reasons and Intentional which focuses
on success as it relates to the ability to make money and do well in the world.
B. Purpose can be defined in two ways: National which focuses on the evaluations of
success within the country for commercial reasons and International which focuses on
success as it relates to other countries to make money and do well in the world.
C. All of the above
D. None of the above

It’s a job well done! You have successfully completed the modules for the First Quarter.
Get ready to carry on for the Second Quarter starting with Module 6.
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