entp 12ppt

Entrepreneurship

Session-12

Internal Relationship between large and small business:

Competitive: Complimentary: Maintenance and repair

services: Social benefits of inter-linkages: Jobbing: Merchandising:

Small Scale Business:

70 percent of the total innovations in the world have come from the Small Scale Sector:

Siemens, Ford, Eastman Kodak, Lever

Brothers, Reliance, Nirma, Rasna were all started small and then nurtured into

big businesses.

Small Industries Development Organization (SIDO)

It is an apex body for assisting the Ministry in:

formulating, coordinating, implementing and monitoring policies and

programmes for the promotion and development of small scale industries in the country

National Small Industries Corporation (NSIC) Ltd. Was set up with a view to promoting,

aiding and fostering the growth of small scale industries in the country with focus on commercial aspects of these functions.

NSIC continues to implement its various programmes and projects throughout the country to assist the SSI units.

The Corporation has been assisting the sector through the following schemes and activities: Supply of both indigenous and

imported machines on easy hire-purchase terms

Composite term loan scheme Procurement, supply and

distribution, of indigenous and imported raw- materials

Marketing of small industries products

The Corporation has been assisting the sector through the following schemes and activities:

Export of small industries products and developing export-worthiness of small scale units

Enlisting competent units and facilitating their participation in Government Stores Purchase Programme

The Corporation has been assisting the sector through the following schemes and activities:

Sensitizing SSI units on technological up gradation through Software Technology Parks and Technology Transfer Centers

Mentoring & advisory services Technology business incubators Setting up small scale industries in

other developing countries on turnkey basis

Phases of New-Product Development

Phases of New-Product Development (cont’d)

Idea Generation Seeking product ideas to achieve

objectives• Internal sources: marketing

managers, researchers, sales personnel, and engineers

•External sources: customers, competitors, advertising agencies, consultants, and new-product alliances

Phases of New-Product Development (cont’d)

Screening Choosing the most promising ideas

for further review•Concerns about cannibalization

of existing products•Company capabilities to produce

and market the product•Nature and wants of buyers

Phases of New-Product Development (cont’d)

Concept Testing Seeking potential buyers’

responses to a product idea•Low cost determination of initial

reaction to product idea• Identification of important

product attributes and benefits

Concept Test for a Tick and Flea Control Product

Phases of New-Product Development (cont’d) Business Analysis

Assessing the potential of a product idea for the firm’s sales, costs, and profits

• Does the product fit in with existing product mix?• Is demand strong enough to enter

the market?• How will introducing the product change

the market?• Is the firm capable of developing

the product?• What are the costs for developing and

marketing?

Phases of New-Product Development (cont’d)

Product Development Determining if producing a product is

feasible and cost effective•Construction of a prototype, or working

model•Testing of the prototype’s overall

functionality•Determining the level of product

quality•Branding, packaging, labeling,

pricing, and promotion decisions

Phases of New-Product Development (cont’d)

Test Marketing Introducing a product on a limited

basis to measure the extent to which potential customers will actually buy it•Sample launch of entire marketing mix•Lessens risk of larger market failure• Is expensive; simulated test marketing

is an alternative

Phases of New-Product Development (cont’d)

Commercialization Deciding on full-scale manufacturing

and marketing plans and preparing budgets•Modifications indicated by test marketing

are incorporated into the production design.

•Marketing, distribution, and servicing plans are finalized.

•Product roll-out occurs in stages to lessen the risks of introducing the new product.

Product Protection: Patents: A patent is a set of

exclusive rights granted by a state to a patentee (the inventor or assignee) for a fixed period of time in exchange for the regulated, public disclosure of certain details of a device, method, process or composition of matter (substance) (known as an invention) which is new, inventive, and useful or industrially applicable

Patents: The exclusive right granted to a

patentee in most countries is the right to prevent or exclude others from :

making, using, selling, offering to sell or importing the

claimed invention.

Patents: Is a grant of a property right by

the government to the inventor.

What can be patented?

Process: methods of production research testing analysis

What can be patented?

Machinery: instruments machines Manufactures: how product is made including

materials,manufacturing process.

What can be patented?

Compositions of matter: chemical compounds medicines synthetic materials cosmetic fertilizing agents

Types of patents:

Utility patents: granted for new products process machinery methods of manufacturing composition of matters.

Types of patents:

Design patent: Plant patent:

Trademarks:

Copyrights:

Copyright protects creative or artistic works.

Trade secrets:

A trade secret is a formula, practice, process, design, instrument, pattern, or compilation of information used by a business to obtain an advantage over competitors within the same industry or profession.

Market research in pre start up phase

Who is the customer? Gender and Age Income Status Occupation and Education Other customer characteristics

Market research in pre start up phase

Where is the market? Market size and changes Segmenting the Market Growth characteristics Sales Forecast

Market research in pre start up phase

Competition Who are the market players? Existing competitors Products or substitutes

Market research in pre start up phase

Distribution How will customers be reached?

Market research in pre start up phase

Sources of market intelligence: Existing competitors Trade publications Securities Analysts Reports Potential customers