ENTREPRENEURIAL MIND

- REFERS TO A SPECIFIC STATE OF

MIND WHICH ORIENTATES HUMAN
CONDUCT TOWARDS
ENTREPRENUERIAL ACTIVITIES AND
OUTCOMES. INDIVIDUALS WITH
ENTREPRENEURIAL ACTIVITIES
MINDSETS ARE OFTEN DRAWN TO
OPPORTUNITIES, INNOVATION AD
NEW VALUE CREATION.
3 KINDS OF ENTREPRENEURIAL MIND

CREATIVE MIND

TECHNICAL MIND

BUSINESS MIND
CREATIVE MIND

- CONCEPTUALIZES AND DESIGNS

A PRODUCT THAT CONSUMERS
FIND SOME USE FOR IT.

- PLEASING TO SEE,
TOUCH,SMELL,HEAR, AN TASTE.

- PERSONAL EXPRESSION OF THE

CONSUMER.
TECHNICAL MIND

- TECHNOLOGY ORIGINATOR

- TECHNOLOGY ADAPTOR

- TECHNOLOGY RENDERER
 BUSINESS MIND
- HARNESS THE POTENTIALS OF NEW
PRODUCTS BY CREATING
THE MARKET SPACE FOR THEM.

- IT ORGANIZES SUFFICIENT FORCES AND

RESOURCES TO DEVELOP, LAUNCH, AND
COMMERCIALIZE THE NEW PRODUCT IN
ORDER TO MAXIMIZE ITS MARKET VALUE.

- MANAGES THE EXTERNAL AND INTERNAL

BUSINESS ENVIROMENT OF NEW PRODUCT,
WHICH GOES BEYOND THE PRODUCT
DEVELOPMENT PROCESS ITSELF
PRODUCT CONCEPTUALIZATION AND
THE CREATIVE MIND
EXAMPLE: LAMPTURN - CREATE MOOD AND
AMBIENCE.

- TO DELIGHT AND
FASCINATE VIEWERS.

- TO “SERVE AS A
CENTERPIECE FOR ROOMS
WITH ITS THEATRICAL
DISPLAY OF IMAGES.”
 SENSORIAL –
EMOTIONAL APPEAL AESTHETIC APPEAL

- USE OF LIGHT AMIDST - HOW THE LAMP COULD BE

DARKENESS. ELEVATED TO SELF -
ACTUALIZATION WOULD
- HIGHLY COLORFUL LARGELY DEPEND ON THE
AND MOVING SHAPES. MEANING OF THE LAMP
IMAGES.
- IMAGES AND THE
MOOD EVOKING - IT WOULD ALSO DEPEND ON
SCENERY. THE DESIRED STATE OF THE
SELF.
PRODUCT DEVELOPMENT AND THE TECHNICAL
MIND

- THE ENTREPRENEURS NEEDED - THE ENTREPRENEURS HAD TO TAP

TO DO WAS TO FIT THAT THE TECHNICAL MINDS OF
EXISTING TECHNOLOGY ELECTRICIANS, ENGINEERS,
ACCORDING TO THEIR PRODUCT ARTISANS, AND ARTISTS TO
CONCEPT. THIS IS THE POINT DEVELOP THE LAMPTURN.
WHERE THE ENTREPRENEURS PROTOTYPES WERE FASHIONED,
ENCOUNTERED SEVERAL CRITIQUED, AND DISCARDED UNTIL
CHALLENGES WHILE THEY WERE THE ENTREPRENEURS BECAME
SEARCHING FOR THE SATISFIED WITH A FINAL PROTOTYPE.
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 BUSINESS MIND MUST DETERMINE THE BEST WAY TO MAXIMIZE

PRODUCT SALES TO ITS TARGET MARKET. THE RIGHT DISTRIBUTION AND
SALESPEOPLE SHOULD BE TAPPED AND DEPLOYED.
- As the entrepreneurs approved the final
prototype, the next step was to test market the
product prototype.

The test was conducted in two phases.

- The first phase consisted of two focus

group dimensions (FGD) and selling
activities at Christmas bazaars.
- The second phase involved the placement
and selling of the lantern at alternative
outlets to determine their price threshold
and potential sales volume
 THE NEW IMPROVED PRODUCT

THERE ARE MANY EXISTING PRODUCTS IN THE MARKET THAT

ARE SERVING THE NEEDS AND WANTS OF COSTUMERS BUT
NOT WELL. THE EXISTING PRODUCTS ARE BEING TOLERATED
BECAUSE THERE ARE ENOUGH “DISSATISFIERS” IN THE
PRODUCT TO WARRANT THE INTRODUCTION OF NEW,
IMPROVED VERSIONS, OR MODIFICATIONS OF THE PRODUCT