THE RIGHT

PRODUCT FOR
THE RIGHT
MARKET
 OBJECTIVES
• To understand the three
entrepreneurial mind and how
they differ from each other
• To be able to understand the
right product for the right
market
The Entrepreneurial Mind
Refers to a specific state
of mind which orientates
human conduct towards
entrepreneurial activities
and outcomes
 3 KINDS OF
ENTREPRENEURIAL
MIND
 CREATIVE MIND
CONCEPTUALIZES
AND DESIGNS A
PRODUCT THAT
CONSUMERS FIND
SOME USE FOR IT
 TECHNICAL MIND
TECHNOLOGY ORIGINATOR

TECHNICAL ADAPTOR

TECHNOLOGY RENDERER
 BUSINESS MIND
IT ORGANIZES SUFFICIENT-
FORCES AND RESOURCES TO
DEVELOP, LAUNCH AND
COMMERCIALIZE THE NEW
PRODUCT IN ORDER TO
MAXIMIZE ITS MARKET
VALUE
 Product
Conceptualization
and the Creative
Mind
EXAMPLE LAMPTURN
 PRODUCT
DEVELOPMENT
AND THE
TECHNICAL MIND
THE ENTREPRENEURS NEEDED TO DO
WAS TO FIT THAT EXISTING
TECHNOLOGY ACCORDING TO THEIR
PRODUCT CONCEPT
THIS IS THE POINT WHERE THE
ENTREPRENEURS ENCOUNTERED
SEVERAL CHALLENGES WHILE THEY
WERE SEARCHING FOR THE
APPROPRIATE TECHNOLOGY FOR
THEIR PRODUCT CONCEPT
PRODUCT LAUNCH
AND THE BUSINESS
MIND
THE BUSINESS MIND BRINGS
THE PRODUCT FROM THE
PROTOTYPE STAGE TO THE
PRODUCTION PHASE AND
FINALLY TO ITS ULTIMATE
DESTINATION, THE MARKET
PLACE THE PRODUCT MUST BE
MADE SHOP READY FOR
COMMERCIAL PURPOSES
 THE NEW
IMPROVED
PRODUCT
THERE ARE MANY EXISTING
PRODUCTS IN THE MARKET THAT
ARE SERVING THE NEEDS AND
WANTS OF CUSTOMERS BUT NOT
THAT WELL. THE EXISTING
PRODUCTS ARE BEING TOLERATED
BECAUSE THERE ARE ENOUGH
FEATURES AND ATTRIBUTES TO
MAKE CUSTOMERS WANT TO BUY
THE PRODUCT.
THANK YOU