Chapter Four Product and Service Concept: Prepared By: - Gemme E. (MBA), OSU, 2019

1
CHAPTER FOUR
PRODUCT AND SERVICE
CONCEPT
Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

INTRODUCTION
2
We define a product as any thing that can be offered to market for attention,
acquisition, use, or consumption and that might satisfy a want or need.
Products include more than just tangible goods.
 Broadly defined, products include physical objects, services, events,
persons, places, organizations, ideas, or mixes of these entities.
 Thus, thorough out this course, we use the term product broadly to include
any or all of these entities.
Because of their importance in the world economy, we give special attention
to services.
 Services are a form of product that consists activities, benefits, or
satisfactions offered for sale that are essentially intangible and do not result
in the ownership of anything.
 Examples are banking, hotel, airline, retail, tax preparation, and home
repair services

4.1 Product Technology
Technology for Small Enterprises

Technology is constantly changing the demands of consumers. Businesses use new
technologies to produce new products and services.
 Entrepreneurs should realize that new technological developments such as the
internet and cell phones increase the exchange of information and may have an effect
on the operations of their business
 A small business must be realistic in judging: the demand for a new product, the
financial aspects of developing a new market and the time required to introduce the
new technology.
Through planning and forecasting, it may be possible to predict some technological
changes that might affect sales of current products and the potential for developing
new products.
Smaller companies must develop products and markets where they have a chance to
succeed and be competitive
Because of shortage of capital resources, entrepreneurs must be able to react quickly
to changes in the market and be concerned with the future needs of their customers.

Characteristics of Appropriate Technologies
The appropriateness of technology for use in a small business is

determined by a number of characteristics. Some of these characteristics
are:
1. SIMPLE: For technology to be considered appropriate, it must be simple to operate.
The user of such technology must be able to apply it without encountering problems.
2. EFFECTIVENESS: Effectiveness of technology is judged by how well it fits in with
the objectives of the user.
3. AVAILABILITY: Some technology may be appropriate for certain purposes but not
available locally. Information technology, for example, may be the most appropriate
for certain tasks, but it may not be readily available locally.
4. FLEXIBILITY: As time changes so do the requirements of technology. Appropriate
technology must be flexible enough to adapt to changing times in the future.
5. DURABLE: Technology that is durable requires less maintenance and repairs.
6. EFFICIENT: Technology should be efficient in its utilization of local resources.
7. COST EFFECTIVE: The cost of technology should be justified by the benefits
achieved. The overall benefits should be greater than the cost of the technology.

4.2 Product Development Process
Introduction: In business and engineering, new

product development (NPD) is the term used to describe the
complete process of bringing a new product or service to market.
 There are two parallel paths involved in the NPD process:
one involves the idea generation, product design and detail
engineering;
the other involves market research and marketing analysis.
Companies typically see new product development as the first stage
in generating and commercializing new products within the overall
strategic process of product life cycle management used to
maintain or grow their market share

4.2.1 The process
Idea Generation is often called the "fuzzy front end" of the NPD process
Idea Screening
 The object is to eliminate unsound concepts prior to devoting resources to them.
Concept Development and Testing
 Develop the marketing and engineering details
 Investigate intellectual property issues and search patent data bases
Business Analysis
 Estimate likely selling price based upon competition and customer feedback
 Estimate sales volume based upon size of market
 Estimate profitability and breakeven point
Beta Testing and Market Testing

 Produce a physical prototype or mock-up
 Test the product (and its packaging) in typical usage situations
 Conduct focus group customer interviews or introduce at trade show
 Make adjustments where necessary
 Produce an initial run of the product and sell it in a test market area to determine customer
acceptance

7
Technical Implementation
 New program initiation
 Finalize Quality management system
 Resource estimation
 Requirement publication
 Publish technical communications such as data sheets
 Engineering operations planning
 Department scheduling
 Supplier collaboration
Commercialization (often considered post-NPD)
 Launch the product
 Produce and place advertisements and other promotions
 Fill the distribution pipeline with product

 Critical path analysis is most useful at this stage
New Product Pricing

 Impact of new product on the entire product portfolio
 Value Analysis (internal & external)
 Competition and alternative competitive technologies
 Differing value segments (price, value, and need)
 Product Costs (fixed & variable)
 Forecast of unit volumes, revenue, and profit

4.2.2 Product Distribution, Advertising and Promotion, Sales and
Service
8
There are several major methods you can use to get your products or services to your customers or
clients.
 Advertising and promotion of products and services are often some of the most under-rated activities
by new business owners.
 Many people strongly believe that if they build it, buyers will come.
 In this increasingly expanding and competitive marketplace, you must ensure your products and
services are prominently in the minds of your customers and clients.
This requires ongoing advertising and promotion.
Advertising and Promotion: Even if your products and services are prominently in the minds of
your customers and clients, you need to facilitate the process of their buying (or, sometimes in the
case of nonprofits, using) your products and services.
Customer Service: All of the product management activities so far come down to achieving one,
ongoing major outcome: Customer Satisfaction
Warranties: Not only can high-quality customer service earn a strong reputation for your business
and products, it can also support continued purchases and revenue (and even new ideas for new
products and services) from current customers.
Sales: Customers are increasingly knowledgeable and intelligent in their buying habits. Depending
on the nature of the product or service, a warranty (or promise of ongoing repair and/or support for
some period of time) can greatly reassure customers when considering the purchase of your product

4.2.3 product life cycle
9
We define a product as "anything that is capable of satisfying customer needs. This definition includes
both physical products (e.g. cars, washing machines, DVD players) as well as services (e.g. insurance,
banking, private health care).
Businesses should manage their products carefully over time to ensure that they deliver products that
continue to meet customer wants. The process of managing groups of brands and product lines is called
portfolio planning.
The stages through which individual products develop over time are called commonly known as the
"Product Life Cycle".
The classic product life cycle has four stages (illustrated in the diagram below): introduction; growth;
maturity and decline
Introduction Stage
At the Introduction (or development) Stage market size and growth is slight. It is possible that substantial
research and development costs have been incurred in getting the product to this stage
In addition, marketing costs may be high in order to test the market, undergo launch promotion and set
up distribution channels. It is highly unlikely that companies will make profits on products at the
Introduction Stage. Products at this stage have to be carefully monitored to ensure that they start to grow.
Otherwise, the best option may be to withdraw or end the product
Growth Stage
The Growth Stage is characterized by rapid growth in sales and profits. Profits arise due to an increase in
output (economies of scale) and possibly better prices

10
Maturity Stage
The Maturity Stage is, perhaps, the most common stage for all markets. it is in this
stage that competition is most intense as companies fight to maintain their market
share. Here, both marketing and finance become key activities. Marketing spend
has to be monitored carefully, since any significant moves are likely to be copied by
competitors.
The Maturity Stage is the time when most profit is earned by the market as a
whole.
Decline Stage
In the Decline Stage, the market is shrinking, reducing the overall amount of profit
that can be shared amongst the remaining competitors. At this stage, great care
has to be taken to manage the product carefully. It may be possible to take out
some production cost, to transfer production to a cheaper facility, sell the product
into other, cheaper markets. Care should be taken to control the amount of stocks
of the product. Ultimately, depending on whether the product remains profitable, a
company may decide to end the product.

11

4.3 Product Protection
12
Entrepreneurs can not have the legal expertise or background of

lawyer, of course, but they should be sufficiently knowledgeable
about certain legal concepts that have implications for the
business venture.
The major legal concepts that affect entrepreneurial ventures
can be divided into three groups:
Those that relate to the inception of the venture,
Those that relate to the ongoing venture, and
Those that relate to the growth and continuity of the venture
In this section our focus will be on the legal concepts that relate
to the first group, particularly laws governing intellectual
property; patents, trade marks and copy rights

13
4.3.1 Patents
A patent provides the owner with exclusive rights to hold, transfer, and license the production and sale of
the product or processes. The objective of patent is to provide the holder with temporary monopoly on his or
her innovation and thus to encourage the creation and disclosure of new ideas and innovation in the market
place. Securing a patent, however, is not always an easy process. A patent is an intellectual property right. It
is the result of unique discovery, and patent holders are provided protection against infringement by others.
4.3.2. Trade marks-
Trade mark is a distinctive name, mark, symbol, or motto identified with company’s product and
registered at the patent and trade mark office. Specific legal terms differentiate the exact type of marks. Fore
example, trade marks identify and distinguish goods. Service marks identify and distinguish services.
Certification marks denote the quality, materials, or other aspects of goods and services and are used by
some one other than the mark’s owner. Collective marks are trade marks or service marks members of
groups or organizations use to identify themselves a s the source of goods or services. Table 4.1 summarizes
the major legal concepts that affect entrepreneurial ventures.
4.3.3. Copyrights
A copy right provides exclusive rights to creative individuals for the protection of their literary or artistic
production. For the author of creative material to obtain copy right protection, the material must be in a
tangible form so it can be communicated or reproduced. It also must be the author’s own work and thus the
product of his her skill or judgment. Concepts, principles, processes, systems, or discoveries are not valid for
copy right protection until they are put in tangible form-written or recorded

14
CHAPTER FIVE
MARKETING AND NEW
VENTURE DEVELOPMENT

Overview
15
Marketing is an economic activity of vital importance to any business.

It is also of one of the functional areas of business management.
 In fact, marketing function is closely related to the very existence of
business.
A business may have many objectives, including making profits.
But on a deeper analysis, it can be said that the most sensible objective of
the business must be consumers' satisfaction of needs and wants.
Then it follows that consumer satisfaction should be the motive force
behind the business organization and the marketing organization as well.
The number of consumers to be served and the quality of service required
influence the nature of business organization.
This does not mean that profit motive is to be scarified at the expense of
consumer satisfaction but it means that profits are made by satisfying
the respect consumers

5.1 Marketing
16
Introduction
Today, marketing must be understood not in the old sense of making a sale-- “telling and
selling”—but in the new sense of satisfying customer needs.
If marketer does good job of understanding consumer needs; develops products that
provide superior value; and prices, distributes, and promotes them effectively, these
products will sell very easily.
Thus selling and advertising are only part of a larger “marketing mix”—a set of marketing
tools that work together to satisfy customer needs and build a customer relationships.
Broadly defined, marketing is a social and managerial process by which individuals and
groups obtain what they need and want through creating and exchanging value with
others.
In a narrower business context, marketing involves building profitable, value-laden
exchange relationship with customers.
Hence, we define marketing with as the process by which companies create value for
customers and strong customer relationship in order to capture value from customers.
Similarly a market can be defined as a set of actual and potential buyers of a product
these buyers share a particular need or want that can be satisfied through exchange
relationship.
5.1.1 The marketing Process
17
The following Figure presents a simple five –step

model of the marketing process.
In the first four steps, companies work to
understand consumers, create consumer value, and
build strong customer relationships. In the final step,
companies reap the rewards of creating superior
customer value.
By creating value for consumers, they in turn capture
value from consumers in the form of sales, profits,
and long term customer equity.

5.1.2 Concepts and Definition of Marketing Research
18
Marketing research is the systematic design, collection,

analysis, and reporting of data relevant to a specific
marketing situation facing an organization.
Companies use marketing research in a wide variety of
situations.
For example, marketing research can help marketers
understand customer satisfaction and purchase
behavior.
It can help them assess market potential and market
share, or to measure the effectiveness of pricing,
product, distribution, and promotion activities.

1 . Defining the Problem and Research Objectives
19
Marketing managers and researchers must work closely

together to define the problem and agree on research objectives.
The manager best understands the decision for which
information is needed; the researcher best understands
marketing research and how to obtain the information.
Defining the problem and research objectives is often the
hardest step in the research process.
The manager may know that something is wrong, without,
without knowing the specific causes.
Careful problem definition would have avoided the cost and
delay of doing advertising research.
After the problem has been defined carefully, the manager and
researcher must set the research objectives.
20
A marketing research project might have one of three

types of objectives.
1. The objective of the exploratory research is to
gather preliminary information that will help define
the problem and suggest hypothesis.
2. The objective descriptive research is to describe
things, such as the market potential for the product or
the demographics and attitudes of consumers who buy
the product.
3. The objective of casual research is to test
hypothesis about causes and effect relationships.

2. Developing the Research Plan
21
Once the research problem and objectives have been defined, researchers must determine the
exact information needed, develop a plan for gathering it efficiently, and present the plan to
management.
The research plan outlines sources of existing data and spells out the specific research
approaches, contact methods, sampling plans, and instruments that researchers will use to
gather new data.
Research objectives must be translated into specific information needs.
The research plan should be presented in a written proposal.
A written proposal is especially important when the research project is large and complex or
when an outside firm caries it out.
The proposal should cover the management problems addressed and the research objectives, the
information to be obtained, and the way the results will help management decision making.
The proposal also should include research costs.
To meet the manager’s information needs, the research plan can call for gathering secondary
data, primary data, or both.
Secondary data consists of information that already exists somewhere, having been collected
for another purpose.
Primary data consists of information collected for the specific purpose at hand.

3. Implementing the Research Plan
22
The researcher next puts the marketing research plan into action.
This involves collecting, processing, and analyzing the information.
Data collection can be carried out by the company’s marketing research
staff or by outside firms.
The data collection phase of the marketing research process is generally the
most expensive and the most subject to error.
Researchers should watch closely to make sure that the plan is
implemented correctly.
Researchers must process and analyze the collected data to isolate
important information and findings.
They need to check data for accuracy and completeness and code it for
analysis.
The researchers then tabulate the results and compute averages and other
statistical measures.

4. Interpreting and Reporting the Findings.
23
The market researchers must now interpret the findings,

draw conclusions, and report them to management.
The researcher should not try to overwhelm managers
with numbers and fancy statistical techniques.
Rather, the researcher should present important findings
that are useful in the major decisions faced by
management.
The best research is meaningless if the manager blindly
accepts faulty interpretations from the researcher.

5.2 Marketing Intelligence
24
Marketing intelligence is a systematic collection

and analysis of publicly available information about
competitors’ and developments in the market place.
 The goal of marketing intelligence is
1. To improve strategic decision making, assess and
track competitors’ actions, and
2. To provides early warning of opportunities and
threats.

5.3 Competitive analysis
25
A good competitive analysis in the industry is vital to the

ultimate success of any new venture.
Both the quality and quantity of the competition must be
carefully scrutinized.
This competitive analysis involves consideration of the
number of competitors as well as the strengths of each.
In assessing the competition, it is important to keep in mind
the various elements that will affect the profile.
Competition can be analyzed from the stand point of:
 What drives the competition and
 What the competition can do.

5.4 Marketing Strategies for Small Business
26
There are some basic concepts that a small firm needs to

understand if it is to survive and grow.
Based up on these concepts, some marketing strategies
would seem to recommend themselves
5.4.1 Competitive Advantage
In order to succeed in business a firm has to have some
advantage over its competitors.
Competitive advantage can be defined as an advantage
over competitors gained by offering consumers greater
value, either through lower prices or by providing more
benefits that justify higher prices.
27
Porter claims that five forces determine

competitiveness
1. The power of Buyers
2. The power of suppliers
3. The threat of new entrants
4. The threat of substitutes
5. The intensity of rivalry

28
5.4.2 Economies of Scale

The average size of business varies from industry
to industry.
For example, the average size of chemical firm is
very large; where as the average size of retail firms
is relatively small.
The most fundamental reason for this difference in
the extent of economies of scale in an industry that
is how the total cost per unit produced changes as
more units are produced.

29
5.4.3 Niche Marketing

While economies of scale of production exist the market for the
product is limited, either in total, or geographically, and the
theoretical optimal size is not achievable.
This happens particularly in highly specialized industries.
But specialism can be product or market based.
Indeed, having a differentiated, specialist product or service
often goes hand in hand with having a well-targeted market
segment.
This is called following a ‘niche’ strategy.
It is important for small firms since it offers a better chance of
selective, sustainable growth than the ‘big bang’ strategy.

5.5 International markets
30
The world is shrinking rapidly with the advent of faster communication,

transportation, and financial flows.
Products developed in one country are finding enthusiastic acceptance in other
countries.
International trade is booming. Since 1969, the number of multinational
corporations in the world has grown from 7,000 to more than 63,000.
Some of these multinationals are true giants.
Today global competition is intensifying.
Foreign firms are expanding aggressively into new international markets, and home
markets are no longer as rich in opportunity.
A global firm is one that, by operating in more than on country, gains marketing,
production, R&D, and financial advantages that are not available to purely domestic
competitors.
The global company sees the world as one market.
It minimizes the importance national boundaries and develops “transnational” brands.
 It raises capital, obtains materials and components, and manufactures and markets its
goods wherever it can do the best job
31
This does not mean that small and medium-size firms must
operate in a dozen countries to succeed.
These firms can practice global niching.
The rapid move toward globalization means that all companies
will have to answer some basic questions: what market position
should we try to establish in our country, in our economic
region, and globally?
Who will our global competitors be, and what are their
strategies and resources?
Where should we producer source our products?
What strategic alliances should we form with other firms
around the world?

32
5.5.1 Looking at the Global Marketing Environment

Before deciding whether to operate internationally,
a company must understand the international
marketing environment.
That environment has changed a great deal in the
last two decades, creating both new opportunities
and new problems.

33
5.5.2 The International Trade System

Companies looking abroad must start by understanding the
international trade system.
When selling to another country a firm faces various trade restrictions.
The most common is the tariff, a tax levied by a foreign government
against certain imported products.
The tariff may be designed either to raise revenue or to protect
domestic firms.
 The exporter also may face a quota, which sets limits on the amount of
goods the importing country will accepting certain product categories.
The purpose of the quota is to conserve on foreign exchange and to
protect local industry and employment.
An embargo, or boycott, which totally bans some kinds of imports, is
the strongest form of quota.
5.6 The World Trade Organizations and GATT
34
 The General Agreement on Tariffs and Trade (GATT) is an

over 60 years old treaty designed to promote world trade by
reducing tariffs and other international trade barriers.
 Since the treaty’s inception in 1948, member nations
(currently numbering about 150) have met in eight rounds
of GATT negotiations to reassess trade barriers and set new
rules for international trade.
 The firs seven rounds of negotiations reduced the average
worldwide tariffs on manufactured goods from 45 percent
to just 5 percent.

35
CHAPTER SIX
ORGANIZING AND
FINANCING THE NEW
VENTURE

6.1. Entrepreneurial Team and Business formation
36
Recruitment and hiring new employees may occur at both the entry and senior management level.
Strategy and procedures may differ somewhat depending on the level for which the individual is being
hired.
The entrepreneur will generally need to establish procedures for hiring any new employees.
Many of these hiring decisions will be important, and thus, the entrepreneur should establish some
criteria as to what characteristics will be considered in evaluating potential employees.
Acquiring senior talent can be critical to the ability of the new venture to successfully meet growth
goals.
New evidence indicates that start-up companies are not having as much difficulty filling senior
management positions as was once believed.
The entrepreneur or founder of the new venture will usually be a role model for other employees. a
good work ethics-being organized , being prepared for meetings, being on time, giving praise to
employees, and good communication within the venture-will go a long way toward achieving financial
and emotional success.
If employees sense that the entrepreneur is not committed to the venture or has given up hope for
success, they will act accordingly and probably seek other employment.
During these early stages employees need incentives to remain committed and loyal to the long-run
success of the new venture.
As mentioned above, stock options or cash rewards for good performance can also be used to
maintain quality workforce.

37
Many entrepreneurs find the role of leader to the management team and employees very difficult.
Even in very small start-up companies it is important that the founder assume this role.
Leadership is not just assuming responsibility; it is also influencing and inspiring others in the
organization to strive to meet the mission of the venture.
Leadership can be addressed in many different ways.
However, there are a number of behaviors listed below that can exhibit the leadership quality
necessary for the new venture.
Set an example within an ethical set of values for other managers and employees
Show respect and concern for the personal well-being of employees
Don’t try to do everything for yourself
Recognize the diversity of employees and how they should be treated
Encourage and praise others in the organization when deserved
Recognize the importance of employees having fun at their jobs
Provide incentives and awards for quality works effort and new ideas
Recognize the importance of employees having fun at their jobs
Be aware of the need for future strategic planning by encouraging every one to participate
Communication with managers and employees is one of the most important underlying attributes
of all the above listed leadership qualities.
Communication is more than just sending messages or telling others what needs to be done. It’s
also being
Prepared a goodE.(MBA),OSU
By:_Gemme listener. ,2019 05/03/2021
6.2. Sources of Financing
38
Introduction
One of the reasons for the failure of small businesses is lack of
adequate capital.
Every entrepreneur planning a new venture confronts the dilemma
of where to find startup capital.
Entrepreneurs usually are not aware that numerous possibilities and
combinations of financial packages may be appropriate for new
venture.
It is important, therefore, to understand not only the various
sources of capital but also the expectations and requirements of
these sources.
Without this understanding, an entrepreneur may be frustrated with
attempts to find appropriate start-up capital

39
6.2.1. Asset management

6.2.2. Equity Financing
Source of Equity Capital
A. Personal Savings
B. Friends and Relatives
C) Partners
D) Public Stock Sale (“going public”)
6.2.3. Venture Capital
6.2.4. Debt Financing
Sources of Debt Capital
Sources of debt capital could be categorized into two broad groups.
I. They are Banks and
II. Non-banks sources of debit capital.
Bank Sources of Debt Capital
40
Commercial banks are by far the most frequently used source of

short-term funds by the entrepreneur.
Banks will refuse loan requests when, in their opinion, there is
not an excellent chance for repayment of the loan proceeds with
interest
Major Reasons why Banks Deny Loans
Lack of equity
Lack of cogent business plan:
Lack of management experience
Lack of financial information
Industry type
Bank aggressiveness
Type of loan
41
Commercial banks provide unsecured and secured loans.

An unsecured loan is one in which collateral is neither requested nor given,
i.e., it is a personal or signature loan.
This type of loan is generally short term in nature, that is, less than one year,
and is granted to only the most credit worthy customers. Entrepreneur is
granted the loan on the strength of his/her reputation.
Unsecured signature loan will have high interest charges.
Secured loans are those with security pledged to the bank as assurance that
the loan will be paid.
There are many types of security a bank will consider, such as a guarantor
another credit worthy person or company that agrees to pay the loan in the
event the borrower default but most security is in the form of tangible assets
pledged as collateral.
Hence, if they do make loans to a start up venture, banks like to see sufficient
cash flows to repay the loan, ample collateral to secure it.

Bank Lending Decisions
42
Commercial loan decisions are made only after the loan officer
and loan committee do a careful review of the borrower and
the financial track record of the business.
For this reason, the small business owner needs to be aware of
the criteria bankers use in evaluating the credit worthiness of
loan applicants.
Most bankers refer to these criteria as the five Cs of credit:
1. Capital,
2. Capacity,
3. Collateral,
4. Character and
5. Conditions.
Non-Bank Source of Debt Capital
43
Banks are not the only source of debt financing.

There are some reasons that forces entrepreneurs to look beyond the bank:
To acquire more money
To overcome banks’ conservation
To accommodate the diversity of the small business sector
To nourish success
To forestall failure
To reduce dependence on leverage
To support innovation
To improve networking and community visibility
To finance substantive growth
Some non-bank source of debt are the following, such as:
A. Trade credit
B. Commercial Finance Companies
C. Accounts Receivable Financing:
D. Credit Unions:
E. Insurance Companies:
F. Bonds (also known as debt securities):

6.2.5. Government Programs
44
A Government: the government contributes by

providing the infrastructure to support a new venture.
Government has a series of development programs that
are designed to help entrepreneurs and small business
enterprises.
These programs include support for government
contractors, access to capital, management and technical
assistance, and even export assistance.
The prime objective is to build community –based small
firms that in turn, will revitalize neighborhoods, create
jobs, and stimulate economic growth.

45
CHAPTER SEVEN
MANAGING GROWTH AND
TRANSACTION
READING ASSIGNMENT

Chapter Four Product and Service Concept: Prepared By: - Gemme E. (MBA), OSU, 2019

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Chapter Four Product and Service Concept: Prepared By: - Gemme E. (MBA), OSU, 2019

Uploaded by

Copyright:

Available Formats

1

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Technology for Small Enterprises

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

The appropriateness of technology for use in a small business is

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Introduction: In business and engineering, new

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

 Estimate sales volume based upon size of market

 Estimate profitability and breakeven point

Beta Testing and Market Testing

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

 Produce and place advertisements and other promotions

 Fill the distribution pipeline with product

New Product Pricing

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Entrepreneurs can not have the legal expertise or background of

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Marketing is an economic activity of vital importance to any business.

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

The following Figure presents a simple five –step

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Marketing research is the systematic design, collection,

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Marketing managers and researchers must work closely

A marketing research project might have one of three

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

The market researchers must now interpret the findings,

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Marketing intelligence is a systematic collection

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

A good competitive analysis in the industry is vital to the

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

There are some basic concepts that a small firm needs to

Porter claims that five forces determine

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

5.4.2 Economies of Scale

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

5.4.3 Niche Marketing

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

The world is shrinking rapidly with the advent of faster communication,

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

5.5.1 Looking at the Global Marketing Environment

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

5.5.2 The International Trade System

 The General Agreement on Tariffs and Trade (GATT) is an

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021

6.2.1. Asset management

Commercial banks are by far the most frequently used source of

Commercial banks provide unsecured and secured loans.

Prepared By:_Gemme E.(MBA),OSU ,2019 05/03/2021