Christine DC. Espiritu HUMSS, 12-2 Entrepreneurship: Activity 4 ACTIVITY 1. If we look at one of the most popular companies in the Philippines, Jollibee, we may tell that food and drink are products and services are a place to eat and children's parties. (Check if they offer product or services) Facility Goods Services Theme Park ✔ Movie Theater ✔ Bowling Alley ✔ Bookstore ✔ Night Club ✔ 2. Explain the elements of marketing mix inside the diagram. Marketing Mix Elements Definition Traditional Marketing Mix Product Is anything that can be sold by the customers to a market for attention, acquisition, used or consumed which can satisfy their wants or needs. It can be services, objects, places, organizations, and ideas. Place It pertains to the area (place) that the product is distributed and makes it conveniently available for the consumer. It pertains to the distribution or methods and location you use for your products or services to be easily accessible to the target customers. Thus the product or service is distributed based on its kind. Price It refers to the relation to the value of benefit that the customer expects to derive from the product or service that they afford. The price is determined based on a tangible costing or/and intangible cost of production or/and labor to produce a certain product or services. Hence the quality and brand is also one of the factors for final pricing to be selled in the market. Promotion It is defined as a way to introduce and make the product or services attractive to intrigued the customers to afford it. It includes advertising, promotions, personal selling, publicity, and public relations. Extended Marketing Mix People Is anyone who encounters your customers called employees who are trained and especially skilled in promoting your product or services that the business offers. Plus it adds value to your business offer because the staff members provide assistance and help in getting what the customers need or want. Physical Evidence Is the element of the physical environment the customer experiences consistently. the business offer The business needs to provide testimonials and case studies to provide evidence that keeps the business promises to reduce uncertainty of the customers to your product or services. Also the facilities such as a clean, tidy, and well-decorated reception area can also help to reassure. Process It refers to all processes that are concerned with the consistent creation, giving services and behavior of those who deliver for customer value. Which is continuously improved based on the customers feedback to keep customers happy to avail the business offer to benefit the company. 3. The brand name is given to a company to distinguish it from other similar companies. It makes companies stand out. There are some very important brand names in leisure and tourism. What brand names come into your head when you think of the following types of companies? Name 5 each. What do you think are the reasons why you remember these brand names? Restaurants 1. Jollibee 2. Mcdonalds 3. KFC 4. Shakey's pizza 5. Greenwich Sports 1. Nike 2.Adidas 3.Under Armor 4. Puma 5. Jordan Delicacies 1.Inisal 2. Dunkin Donut 3. Krispy Kreme 4. Bibingkinitan 5. Goldilocks Banks 1. Banco De Oro(BDO) 2. Bank of the Philippine Islands (BPI) 3. China bank 4. Philippine national bank (PNB) 5. Land bank of the philippines (LBP) Explanation: This brand name is the first thing that comes to my mind since these are the most popular brands that are owned by most Filipino entrepreneurs and the few of them are the brand names where I can afford or avail. In terms of marketing, the brand naming is very familiar and has a very catchy sound. Each logo can be visually captured in my mind due its unique eye-catching and simplicity of symbol, or creative and well detailed design. Lastly, it is short and can be easily pronounced. All of these characteristics also help me differentiate them from other business names of the competitors. Thus this brand name gets my attention as a customer to new products that might benefit me. 4. Many organizations combine their brand names with logos that make the company instantly recognizable. A logo is a symbol that helps identify an organization. The most famous logo of all is for McDonald’s. The Golden Arches are well known all over the world and they symbolize the fast food chain. On the space provided, formulate a brand name, and draw a logo for your future company. Type of drawing:Digital art using canva Brand name : Fur hearts, groom and shop (animal care service and shop not a clinic) 5. Explain the meaning of marketing management. Marketing Management refers to the ways and strategies to run a business and all processes in controlling all marketing aspects and executing them to meet the demands of the customers from estimating potential market demand for production of products or services while putting reasonable prices. Having responsibility for planning, organizing and following the legal rules and etiquette, promotion to increase sales and different ways of distribution to reach customers. 6. Describe the rights of the consumers to be observed by the entrepreneurs. All kinds of Rights of Consumers help to assure & guarantee availability of basic goods and services to consumers at sustainable and favorable prices that have a good quality with an assurance of satisfying condition or standards of any product or services. Also this right protects the safety of customers against goods that are harmful to their health, life and environment to avoid threatening or danger.Additionally, They have rights to accurate information that is protected against false or misleading advertising and labeling. In order to make better decisions and better quality of choice that can benefit them in using or consuming the product or getting the right services for their needs. Last but not least, customers have the right to get the information and skills required to become educated consumers and overcome unfair business practices, and avoid being easily taken advantage of.