Date post: | 13-Jan-2015 |
Category: |
Business |
Upload: | guestad7667 |
View: | 368 times |
Download: | 1 times |
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