Module_CLP-Markets-Staff-Training

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TRAINING MODULE
ON TOT FOR
CLP MARKET DEVELOPMENT
PROJECTS STAFF
Participants: CLP Market Development Project Staffs
Duration: 5 days
Prepared For
Chars Livelihoods Programme
Rural Development Academy Campus,
Bogra-5842, Bangladesh
Prepared By
GMark Consulting Limited
Suite 604, House 145, Road 03
Block A, Niketan, Gulshan 1, Dhaka 1212

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Table of Contents
Training Schedule...............................................................................................................................................................6
INTRODUCTION TO SMALL BUSINESS................................................................................................................11
SESSION- 01: INTRODUCTION TO SMALL BUSINESS .....................................................................11
Definition of Business .............................................................................................................................11
Types of Business....................................................................................................................................11
Characteristics of Small Business Enterprise..........................................................................................13
Objectives of Business ............................................................................................................................14
Functions of Small Business ....................................................................................................................14
Basic elements of business......................................................................................................................15
Different Steps of Small Business............................................................................................................15
Profitable Business Selection and factors of business selection (Micro scanning) .................................15
Entrepreneur...........................................................................................................................................16
Characteristics of a Successful Entrepreneur.........................................................................................16
INTRODUCTION TO MARKET AND MARKETING..........................................................................................18
SESSION- 02 & 03: INTRODUCTION TO MARKET AND MARKETING..........................................18
Market and Marketing.............................................................................................................................18
Core Concept of Marketing ...................................................................................................................18
Functions of Marketing ...........................................................................................................................19
Market analysis........................................................................................................................................20
Role of PGs, MBGs, and CBCs in Market System..................................................................................20
4 Ps – Product, Price, Place, Promotion.................................................................................................21
SESSION- 04: SMALLHOLDER‘S PRODUCT MARKETING STRATEGIES..........................................22
Smallholder‘s product marketing Strategies ...........................................................................................22
INTRODUCTION TO FINANCIAL PLANNING..................................................................................................23
SESSION- 05: INTRODUCTION TO FINANCIAL PLANNING .........................................................23
Objectives ...............................................................................................................................................23
Elements of financial planning .................................................................................................................23
Steps of financial planning .......................................................................................................................23
SESSION- 06: INTRODUCTION TO FINANCIAL PLANNING (Cont.).............................................27
Business plan preparation .......................................................................................................................27

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FINANCIAL MANAGEMENT OF SMALL BUSINESS............................................................................................29
SESSION- 07: FINANCIAL MANAGEMENT OF SMALL BUSINESS ....................................................29
Financial administration...........................................................................................................................29
Legal documents .....................................................................................................................................29
Importance of bookkeeping and financial administration.......................................................................30
Books of accounts maintenance .............................................................................................................30
Cash and bank books Management ........................................................................................................31
SESSION- 08 & 09: FINANCIAL MANAGEMENT AND ANALYSIS....................................................31
Ledger .....................................................................................................................................................31
Stock and Sales........................................................................................................................................31
Profit and Loss Analysis ..........................................................................................................................32
Profit calculation .....................................................................................................................................32
Productivity analysis:...............................................................................................................................32
ROI (Return on Investment):..................................................................................................................33
INTRODUCTION TO MARKET DEVELOPMENT APPROACH......................................................................35
SESSION- 10: INTRODUCTION TO MARKET AND MARKETING ..................................................35
Definition of MDA ..................................................................................................................................35
MDA vs. Conventional Approach...........................................................................................................35
SHIFT TO A NEW PARADIGM.............................................................................................................37
Goal of Market Development Program-Commercially Viable Solution.................................................37
Advantages and Disadvantages of Market Development Programmes..................................................38
UNDERSTANDING THE MARKET SYSTEMS........................................................................................................39
SESSION- 11: UNDERSTANDING THE MARKET SYSTEM ................................................................39
Market.....................................................................................................................................................39
The Market System (Frame work) .........................................................................................................39
Core Market ...........................................................................................................................................40
Supporting Functions ..............................................................................................................................40
Rules & Norm Players.............................................................................................................................41
SESSION- 12: UNDERSTANDING THE MARKET DYNAMICS..........................................................41
Market Actors.........................................................................................................................................41
Role of Market Actors............................................................................................................................41
Importance of Market Actors.................................................................................................................42

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Factors influencing the Market System...................................................................................................42
UNDERSTANDING THE VALUE CHAIN...............................................................................................................44
SESSION- 13: STEPS OF VALUE CHAIN ..............................................................................................44
Steps of dairy value chain........................................................................................................................44
Value Chain Selection Criteria................................................................................................................47
VALUE CHAIN MAPPING & ANALYSIS..................................................................................................................48
SESSION- 14 & 15: VALUE CHAIN MAPPING AND ANALYSIS.........................................................48
Value Chain Mapping...............................................................................................................................48
Importance of Value chain Mapping........................................................................................................48
Market Constraints and Opportunities..................................................................................................52
BUSINESS DEVELOPMENT SERVICES......................................................................................................................54
SESSION- 16: BUSINESS DEVELOPMENT SERVICES...........................................................................54
Definition and Types of BDS ..................................................................................................................54
Provider and appropriateness.................................................................................................................54
ASSESSMENT OF BUSINESS SERVICE ..................................................................................................56
Business Services in rural market ...........................................................................................................56
BDS Actors and their roles ....................................................................................................................56
PRIVATE AND PUBLIC SERVICE PROVIDERS AND THEIR ENGAGEMENT IN MILK, MEAT &
FODDER MARKET DEVELOPMENT ........................................................................................................................58
SESSION- 17: PRIVATE AND PUBLIC SERVICE PROVIDERS AND THEIR ENGAGEMENT IN MILK,
MEAT & FODDER MARKET DEVELOPMENT .....................................................................................58
Private and Government Sector.............................................................................................................58
PSA engagement in market system.........................................................................................................58
FACILITATION ...............................................................................................................................................................59
SESSION- 18: FACILATION AND FACILITATOR...............................................................................59
What is Facilitation or a Facilitator?.......................................................................................................59
Importance of facilitator and facilitation.................................................................................................59
What does Facilitator do?.......................................................................................................................59
Facilitation Strategy.................................................................................................................................60
Crowding in ............................................................................................................................................60
Who should we work with? ...................................................................................................................60

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DESIGNING & DEVELOPING INTERVENTIONS FOR MILK, MEAT & FODDER MARKET
DEVELOPMENT..............................................................................................................................................................61
SESSION- 19 & 20: DESIGNING & DEVELOPING INTERVENTIONS FOR MILK, MEAT & FODDER
MARKET DEVELOPMENT.....................................................................................................................61
Identification and Selection of Interventions ..........................................................................................61
Criteria to select interventions ..............................................................................................................61
Design and Implementation ....................................................................................................................63
RISKS & CHALLENGES IN MILK, MEAT & FODDER MARKET SYSTEM.......................................................65
SESSION- 21 & 22: RISKS & CHALLENGES IN MILK, MEAT & FODDER MARKET SYSTEM............65
Risks analysis...........................................................................................................................................65
Sustainability and growth for business expansion...................................................................................66
Scale Up and Exit Strategy for Milk, Meat and Fodder Markets.............................................................68
Market Development in CLP Context ...................................................................................................68

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Session Contents Methodology Notes Time
Day 1
Brief introduction on CLP-project goals and objectives
Training Objectives and Expectation
Pre-Training Evaluation
Discussion 9.00 am-
9.30 am
Session-01
Introduction to Small Business
 Definition and types of business
 Characteristics, objectives and functions of small business
 Basic elements of small business
 Different steps of small business
 Profitable business selection and factors of business selection (Micro-scanning)
 Entrepreneur and characteristics of good entrepreneur
Presentation
Discussion
Group Exercise
All the discussions/
examples/ exercises will
be related to Milk,
Meat and Fodder.
09.30 am-
11.00 am
Tea Break (11.00-11.15 am)
Session-
02
Introduction to Market and Marketing
 What is Market and Marketing
 Core concepts and functions of Marketing
 Market analysis – market segmentation, market size, market demand, formal and
informal markets for dairy products etc.
Presentation
Discussion
Group Exercise
be related to Milk,
Meat and Fodder.
11.15 am-
01.00 pm
LUNCH (1.00 pm-2.00 pm)
Session
-03
Introduction to Market and Marketing (Cont.)
 Role of PGs, MBGs and CBCs in Market System
 4 Ps – Product, Price, Place, Promotion
 One market or multiple markets
Presentation
Discussion
examples will be related
to Milk, Meat and
Fodder.
2.00 pm-
3.15 pm
BREAK (3.15 pm-3.30 pm)
Session
-04
Smallholders Product Marketing – The Strategies
 Individual or collective approach
 Formal or informal market
 Various selling options
Presentation
Discussion
be related to Milk,
Meat and Fodder.
3.30 pm-
4.30pm
Session
-05
Introduction to financial (small business) planning
 Financial Planning and its objectives
 Elements and steps of financial planning
 Business plan preparation and presentation
Presentation
Discussion
be related to Milk,
Meat and Fodder.
4.30 pm-
5.30
Training Schedule

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Day 2
Contents Methodology Notes Time
Sessi
on-
06
Introduction to financial (small business) planning (Cont.)
 Business plan preparation and presentation (Cont.)
Group work All the exercises will be
related to Milk, Meat
and Fodder.
9.00 am-
11.15 am
BREAK (11.15 am-11.35 am)
Session
-07
Financial Management (of small business)
 Financial administration and legal documents
 Books of accounts maintenance
 Cash & Bank books
Presentation
Discussion
Q&A
Group Exercise
Discussion of every topic
will depend on the
necessity of the
participants/project.
11.35
am-1.00
pm
LUNCH (1.00 pm-2.00 pm)
Session
-08
Financial Management & Analysis (of small business)
 Ledger
 Stock and Sales
 Profit and Loss analysis
Presentation
Discussion
Q&A
Group Exercise
will depend on the
necessity of the
2.00 pm-
3.00 pm
Tea Break (3.00 pm-3.15pm)
Session
-09
 Profit calculation
 Productivity analysis
 ROI (Return on Investment) calculation etc.
Presentation
Discussion
Group Exercise
Q&A
will depend on the
necessity of the
3.15 pm-
5.00 pm
Day 3
Session-
10
Introduction to Market Development Approach
 Definition of MDA
 MDA Vs. Conventional Approach
 Goal of Market Development Program-Commercially Viable Solution
 Advantages and Disadvantages of Market Development Programs
Presentation
Discussion
Q&A
9.30 am-
11.15 am
BREAK (11.15 am-11.35 am)
Session-
11
Understanding the Market Systems
 Core Market
 Supporting Functions
 Rules
Presentation
Discussion
Q&A
examples will be
related to Milk,
Meat and Fodder
markets.
11.35
am-1.00
pm
LUNCH (1.00 pm-2.00 pm)

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Session-
12
Understanding the Market Dynamics
 Market Actors
 Role of Market Actors
 Importance of Market Actors
 Factors influencing the Market System
Presentation
Discussion
Q&A
All the discussions/ examples will be
related to Milk, Meat and
Fodder markets.
2.00 pm-
3.15 pm
BREAK (3.15 pm-3.35 pm)
Session
-13
Steps of Value Chain
 Steps of dairy value chain
 Value Chain Selection Criteria
Presentation
Discussion
Q&A
Discussions will be generic/
common.
2.30 pm-
3.45 pm
BREAK (3.45 pm-4.00 pm)
Session-14
Value Chain Mapping and Analysis
 Value Chain Mapping and Importance
Presentation
Discussion
Group Exercise
Group
Presentation
Q&A
Fodder markets.
Group Exercises will be related to
Milk, Meat and Fodder markets.
4.00 pm-
5.00 pm
Day 4
Session-15
Value Chain Mapping and Analysis (Cont.)
 Market Constraints and Opportunities
 Type of Constraints/Opportunities
Presentation
Discussion
Group Exercise
Group
Presentation
Q&A
Fodder markets.
sGroup Exercises will be related to
Milk, Meat and Fodder markets.
9.00 am-
11.00 am
Tea Break (11.00 am-11.15 am)
Session
-16
Business Development Services
 Definition, types, providers and appropriateness
 Assessment of Business Services (Demand Side vs. Supply Side)
 Business Services in rural market
Presentation
Discussion
Role Play
Q&A
Discussion on ‗Business
Development Services‘ will be
generic.
11.15
am-12.00
pm
Session-
17
Private and Public Service providers and their Engagement in Milk,
Meat & Fodder Market Development
 Role
 Identify Sector‘s Interest
 Engagement in Market development
Presentation
Discussion
Role Play
Q&A
Trainer will specifically discuss on
public and private sector service
provider related to milk, meat &
fodder markets.
12.00
pm-1.00
pm
Lunch Break (1.00 pm-2.00 pm)

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Session-18
Facilitation & Facilitator
 Definition of Facilitator, Facilitation
 Importance of Facilitator and Facilitation
 Strategy of Facilitation
o Deal Making
 Crowding In/Scale up
Presentation
Discussion
Role Play
Q&A
Discussion will be generic. 2.00 pm-
3.00 pm
BREAK (3.00 pm-3.15 pm)
Session-
19
Designing & Developing Interventions for Milk, Meat & Fodder
Market Development
 Identification and Selection of Interventions
 Design and Implementation
Presentation
Discussion
Group Exercise
Role Play
Q&A
Interventions will follow previously
discussed constraints and
opportunities. Group Exercises will
be related to Milk, Meat and
Fodder markets.
3.15 pm-
5.00 pm
Day 5
Session-
20
Continue Session on Designing & Developing Interventions for Milk,
Meat & Fodder Market Development (cont.)
Presentation
Discussion
Group Exercise
Role Play
Q&A
Interventions will follow previously
discussed constraints and
opportunities. Group Exercises will
be related to Milk, Meat and
Fodder markets.
9.00–
11.00 am
BREAK (11.00 am – 11.15 am)
Session
-21
Risks & Challenges in Milk, Meat & Fodder Market System
 Risks analysis: market risk, human resource risk, economic risk,
financial risk, and event risk etc.
 Sustainability and growth for business expansion
Presentation
Discussion
Group Exercise
Fodder markets.
11.15
am-12.00
pm
Session-22
Scale Up and Exit Strategy for Milk, Meat & Fodder Markets
Market Development in CLP Context
Presentation
Discussion
12.00 pm
– 12.30
pm
Post-Training Evaluation and Closing remarks Discussion 12.30
pm-1.00
pm
Lunch (1.00 pm-2.00pm)

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Session- 01
Introduction to Small Business
Session- 02
Introduction to Market and Marketing
Session- 03
Introduction to Market and Marketing (Cont.)
Session- 04
Smallholders Product Marketing- The Strategies
Session- 05
Introduction to Financial (small business) Planning
Day-01

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SESSION- 01: INTRODUCTION TO SMALL BUSINESS
Definition of Business
Business can be defined as an enterprise or a firm involved in the trading of goods and services to the
consumer. The main objective of business is to gain profit by doing business as well as the development
of the society. A business can be a for-profit entity, such as a publicly-traded corporation, or a non-
profit organization engaged in business activities, such as an agricultural cooperative. Businesses include
everything from a small owner-operated company such as a family restaurant, to a multinational
conglomerate such as Unilever.
Types of Business
1. Based on proprietorship
a. Sole proprietorship
b. Partnership
2. Company
a. Private limited company
b. Public limited company
3. Based on investment/size of the business
a. Micro Enterprise
b. Cottage industry
c. Small industry
d. Medium industry
e. Large industry
INTRODUCTION TO SMALL BUSINESS

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1. Based on proprietorship
a. Sole proprietorship
A sole proprietorship, also known as a sole trader, is owned by one person and operates for their
benefit. A business that legally has no separate existence from its owner. Income and losses are taxed
on the individual's personal income tax return. With little government regulation, they are the simplest
business to set up or take apart, making them popular among individual self-contractors or business
owners.
b. Partnership
It is a business organization in which two or more individuals manage and operate the business. Both
owners are equally and personally liable for the debts from the business. It is a legal form of business
operation between two or more individuals who share management and profits.
Example: Suppose three friends start a new business with a deal. And their product is Meat. They want
to provide high quality meat to the local customer. They don‘t need to register their business to
government. They are paying taxes from their individual income.
2. Company
a. Private Limited Company
The owners of a Private Limited Company have limited liability and the business has a separate legal
personality from its owners. Private Limited Companies are privately-owned. In Private ltd the minimum
no. of shareholders is 2 and maximum is 50 excluding the past and present employees who hold shares
attribution. Shares of Private Limited Company cannot offer for sale to the general public.
Example: Aarong Dairy is a subsidiary company of BRAC.
b. Public Limited Company
Public Limited Company is a company where the central government or state government or both of
them combined together holds the majority of shares. In public limited company the minimum no. of
shareholders is 7 and there is no maximum limit. The shares are freely transferable.
Example: Milk-Vita is cooperative organization. It has large number of members but they
don’t have any right to taking management decisions.
3. Based on investment/size of the business
a. Micro Enterprise
A business, that operates in a very small scale, especially with a sole proprietor and with less than six
employees. Example: A small scale Cow Farm with few employees.
b. Cottage industry
A business or manufacturing activity carried on in a person's home. Example: Sweet business which
process sweets with milk in a person‘s home for the purpose of business.

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c. Small industry
d. Medium industry
e. Large industry
The difference between small, medium and large industry differ from the investment size, capital size,
number of employee and also on ownership pattern etc.
Characteristics of Small Business Enterprise
 Community-Based
A primary trait of small businesses often used as a promotional benefit is their participation in local
communities.
 Small Structure
The organizational structure of a small business is generally simpler than that of a larger corporation. In
the smallest sense, a small business could simply be an owner-operator or an owner-manager-employee
setup.
 Limited Budget
A key constraint for small-scale businesses relative to larger companies is typically a more limited
budget. With revenue ranging from a few thousand Taka to a few million, small companies must
normally minimize fixed and variable costs of doing business and operate with extreme efficiency.
Marketing budgets are limited so affordable media such as local Cable Operators and newspapers are
commonly used to present advertising messages to customers.
 Market Area
Small-scale businesses serve a much smaller area than larger private businesses. The smallest-scale
businesses serve single communities, such as a convenience store in a rural township.
 Ownership and Taxes
Small-scale businesses prefer to organize as sole proprietorships, partnerships or limited liability
companies. These forms of organization provide the greatest degree of managerial control for company
owners, while minimizing the hassle and expense of business registration.

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Objectives of Business
 Making profits
The main purpose of starting and operating a business is to make profits. Profit makes it worthwhile for
the entrepreneur to continue business. Profit earned may be reinvested to expand the business.
 Supplying goods and services that satisfy demand
Identifying a particular need in a market and developing a product that will supply that market need
improves standard of living and increases the overall revenue earned in a country. Small businesses have
the advantage over large businesses to identify changing market trends as they are closer to the
customers. They are also able to produce unique products to suit the needs of each customer.
 Enhance Customer Satisfaction
You enhance profits by reselling to current customers and getting new sales through customer referrals.
Therefore, improving customer satisfaction is an important goal. Objectives in this regard might include
the on-time delivery of products 99 percent of the time and adjusting production and sales processes
and policies to reduce the customer‘s total cost by 10 percent.
 Capital and asset generation
 Employment generation
Functions of Small Business
The functions of a small business work in harmony to help the business achieve both short- and long-
term goals. Three common small business functions include:
1. Production,
a. Production plan
b. Raw materials collection and purchasing according to production plan
c. Producing products
2. Financing
3. Marketing and,
a. Market information collection
b. Product stocking
c. Product transportation
d. Product selling
4. Accounting
Production works to ensure products are in line with standards and distributed efficiently. Marketing
develops pricing strategies and gathers customer feedback. Accounting manages the budget and prepares
financial statements.
Other functions related to large business include those related to human resources and research &
development.

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Basic elements of business
1. Market
2. Technical efficiency
3. Raw materials
4. Capital
5. Production system
6. Investment
7. Manpower/Human resource
8. Financial benefit
9. Social benefit
10. Legal authenticity
Different Steps of Small Business
 Prepare a business plan and materials
 Insure your business and investigate other requirements
 Prepare yourself Financially
 SWOT Analysis of Business
 Making a benchmark to measure the business
 Evaluate the plan
 Getting alternative plan.
Profitable Business Selection and factors of business selection (Micro
scanning)
LET‘S DO A CLASS WORK!!
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Entrepreneur
An individual who, rather than working as an employee, runs a small business and assumes all the risk
and reward of a given business venture, idea, or good or service offered for sale. The entrepreneur is
commonly seen as a business leader and innovator of new ideas and business processes.
An entrepreneur is the decision maker, decides what, how, and how much of a good or service will be
produced.
The entrepreneur develops a business model, acquires the human and other required resources, and is
fully responsible for its success or failure.
Characteristics of a Successful Entrepreneur
 Have a Crystal Clear Vision
If the entrepreneur doesn‘t have a crystal clear vision of the business enterprise he/she is trying to
create, he/she can‘t possibly create it.
Figure out exactly the type of company you are trying to build. For example, in five years how
many customers will you have? How many employees? What will your revenues be?
 Have a Strategic Plan
A plan details how the entrepreneur will achieve his/her business dream.
A plan should identify what the entrepreneur must accomplish in the next twelve months to get on the
right path to achieving his/her long-term vision. Among other things, a plan must document the
entrepreneur‘s product strategy, marketing strategy and human resource strategy.
 Set Shorter-Term Goals

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The most successful entrepreneurs and business owners also set shorter-term goals. Specifically, they
identify what they and their company need to achieve in the next quarter, monthly and week to meet
their annual goals.
They also meet with their teams to ensure all employees understand these goals and work together to
achieve them.
 Ongoing Education
To succeed requires continual education. This includes attending events and networking with other
successful entrepreneurs and business owners.
Having business mentors is another great way to get ongoing education and advice.
 Satisfy Customers
If you can’t satisfy customers, your business will fail.
Always keep your customers top of mind. Focus relentlessly on their needs; not just on your
needs.
 Be a Great Marketer
If the entrepreneur is truly satisfying his/her customers, he/she will grow through word of mouth.
But in most cases, the entrepreneur wants or needs to grow even faster. So they need a comprehensive
marketing plan in place.
 Be Focused
An entrepreneur or business owner constantly faces with new opportunities and ideas. The key to your
success is staying focused. By creating plans and setting (and sticking to) goals, you will achieve more.
That‘s not to say to avoid all new opportunities. Rather, make sure you focus on hitting your short-term
goals first, and then set up periodic meetings (perhaps monthly) to consider new ideas or opportunities.
 Never Give Up
The life of an entrepreneur or business owner isn‘t easy. There‘s always more work to be done. And on
any given day there may be significant ups and downs, such as landing or losing a big client.
Never give up. Build up a tolerance to the downs and realize that if you keep focusing on
attaining your goals, you will.

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SESSION- 02 & 03: INTRODUCTION TO MARKET AND MARKETING
Market and Marketing
A set of arrangements by which buyers and sellers are in contact to exchange goods or services; the
interaction of demand and supply. The term ‗Market‘ refers to a place where goods are bought and sold
by the buyers and sellers. In wider sense, market includes the whole of any region in which buyers and
sellers are brought into contact with one another and by means of which the price of goods tend to be
equalized easily and quickly. Marketing is the social process by which individuals and groups obtain what
they need and want through creating and exchanging products and value with others. Marketing is the
management process responsible for identifying, anticipating and satisfying customer requirements
profitably. Marketing is managing profitable customer relationships. The twofold goal of marketing is to
attract new customers by promising superior value and keep and grow current customers by delivering
satisfaction.
Core Concept of Marketing
There are FIVE competing concepts under which organizations conduct their marketing activities:
The Production Concept
Produce Sell Consumers Company Produce more & more practically sells itself. Consumers will favor
those products that are widely available and low in cost. Therefore increase production and cut down
costs. And build profit through volume.
The Product Concept
Produce Quality Products Sell Consumers Practically sells itself, if it gives most quality for money Buyers
admire well-made products and can appraise product quality and performance. Consumers will favor
those products that offer the most quality, performance, or innovative features.
Therefore, improve quality, performance and features. This would lead to increased sales and profits.
The Selling Concept
Produce Sell it Consumers Aggressive selling & promotion efforts Making sales becomes primary
function and consumer satisfaction secondary. Consumers, if left alone, will not buy enough of
company‘s products. Therefore, promote sales aggressively. And, build profit through quick turnover
INTRODUCTION TO MARKET AND MARKETING

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The Marketing Concept
“LOVE THE CUSTOMER, NOT THE PRODUCT”
The key to achieving organizational goals consist in determining the needs and wants of target markets
and delivering the desired satisfactions more effectively and efficiently than competitors. And build profit
through customer satisfaction and loyalty.
The Societal Marketing Concept
The societal marketing concept holds that the organization‘s task is to determine the needs, wants, and
interests of target markets and to deliver the desired satisfactions more effectively and efficiently than
competitors in a way that preserves or enhances the consumer‘s and the society‘s well being. - It
addresses conflicts between consumer‘s and firm‘s short run wants and long term welfare.
Functions of Marketing
 Distribution
Your distribution strategy determines how and where customers can obtain your products. If you
market products to a small number of business customers, you may deal with them directly through a
sales team.
 Product/Service Management
Marketing provides valuable input to product and service development. Information on customers‘
needs helps to identify the features to incorporate in new products and product upgrades. Marketing
also identifies opportunities to extend a product range or launch existing products into new sectors.
 Pricing
Pricing plays an important role in determining market success and profitability. If you market products
that have many competitors, you may face strong price competition. In that situation, you must aim to
be the lowest-cost supplier so you can set low prices and still remain profitable.
 Promotion
Promotion makes customers and prospects aware of your products and your company. Using
promotional techniques, such as advertising, direct marketing, telemarketing or public relations; you can
communicate product benefits and build preference for your company‘s products.
 Selling
Marketing and selling are complementary functions. Marketing creates awareness and builds preference
for a product, helping company sales representatives or retail sales staff sells more of a product.
Marketing also supports sales by generating leads for the sales team to follow up.

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 Financing
Successful marketing provides a regular flow of revenue to pay for business operations. Marketing
programs that strengthen customer loyalty help to secure long-term revenue, while product
development programs open new revenue streams. Financing also plays a role in marketing success by
offering customers alternative methods of payment, such as loans, extended credit terms or leasing.
Market analysis
Market segmentation involves dividing a market into smaller segments of buyers with distinct needs,
characteristics, or behaviors that might require separate marketing strategies or mixes. The company
identifies different ways to segment the market and develops profiles of the resulting market segments.
Market targeting (or targeting) consists of evaluating each market segment‘s attractiveness and selecting
one or more market segments to enter.
In the final two steps, the company decides on a value proposition—how it will create value for target
customers. Differentiation involves actually differentiating the firm‘s market offering to create superior
customer value. Positioning consists of arranging for a market offering to occupy a clear, distinctive, and
desirable place relative to competing products in the minds of target consumers.
Market Size can be defined by the numbers of buyer and seller in a particular market. It is highly
important for a company wish to launch a new product and service since small markets cannot be able
to provide high amount of products or services.
Market Demand: market demand is the total of what everybody in the market wants. Businesses
often spend a considerable amount of money in order to determine the amount of demand that the
public has for its products and services.
Formal and informal markets for dairy products
 Formal market for dairy products means a market system which is structured and has legal
contract documents within the seller and buyer. Such as: Supplying milk to Pran Dairy, BRAC
etc.
 Informal markets for dairy products means a market at which there is no legal contract
within the seller and buyer, the market is not structured. Example: selling milk, sweets and other
dairy products in the village market to the customer.
Role of PGs, MBGs, and CBCs in Market System
 Producer Group: the producer group of fodder, dairy products, milk and meat supply their
products into the market, better dairy cattle husbandry practices, number of producers gather
together, sharing similar knowledge and perform similar activities within the boundary. Mostly
they are bound to a particular geography. One PG member can be a member to other PG.
 Milk Business Group: The role of MBGs are to improve dairy cattle husbandry and
management practices, milk collection, milk processing, transportation and sales, better linkage

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establishment among the milk market actors. They are acting as an intermediary and act on
profit motives. They add value to products or transact the product without adding value.
 Char Business Centre: The role of Char Business Centre operates as an advisory body,
advocacy, negotiator, mediator, collaboration at char level to develop business and char business
management, business planning involving relevant market actors, demand and supply forecast,
profit generation for the business group members, sharing of marketing information etc. to
expand the market for business enabling environment.
4 Ps – Product, Price, Place, Promotion
The marketing mix is the set of tactical marketing tools that the firm blends to produce the response it
wants in the target market. The marketing mix consists of everything the firm can do to influence the
demand for its product. The many possibilities can be collected into four groups of variables—the four
Ps.
 Product means the goods-and-services combination the company offers to the target market.
Thus, a sweet is ultimate product of Milk through processing.
 Price is the amount of money customers must pay to obtain the product. Ford calculates
suggested retail prices that its dealers might charge for each Escape. But Ford dealers rarely
charge the full sticker price. Instead, they negotiate the price with each customer, offering
discounts, trade-in allowances, and credit terms. These actions adjust prices for the current
competitive and economic situations and bring them into line with the buyer‘s perception of the
car‘s value.
 Place includes company activities that make the product available to target consumers. Ford
partners with large body of independently owned dealerships that sell the company‘s many
different models. Ford selects its dealers carefully and strongly supports them. The dealers keep
an inventory of Ford automobiles, demonstrate them to potential buyers, negotiate prices, close
sales, and service the cars after the sale.
 Promotion means activities that communicate the merits of the product and persuade target
customers to buy it.
An effective marketing program blends each marketing mix element into an integrated marketing
program designed to achieve the company‘s marketing objectives by delivering value to consumers. The
marketing mix constitutes the company‘s tactical tool kit for establishing strong positioning in target
markets.
One market or multiple markets
 One market means a market which is targeted to a particular group of customer. It is a
market system only for particular products. Example: Selling milk only to the Char market or
local market.
 Multiple markets mean a market which is targeted to multiple actors and has varieties of
products. Example: Selling milk to the regional markets.

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SESSION- 04: SMALLHOLDER’S PRODUCT MARKETING STRATEGIES
Smallholder’s product marketing Strategies
 Individual or collective approach: It is an approach where the smallholder producer can
market his/her product individually or collectively. Selling products individually, in less quantity to a
customer or collectively sales products into large quantity to a large processor such as Milk Vita,
Pran Dairy.
 Formal or informal approach: Contracting to a customer to supply products within a particular
time and quantity, in a structured market is a formal approach and selling products to local
customer verbally, without any contract paper and not in a structured market is an informal
approach to market products.
 Various selling options: Smallholder product can be sold from the gate of the farm or house, to
local shops such as local sweet processors, large processors such as BRAC.

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SESSION- 05: INTRODUCTION TO FINANCIAL PLANNING
Financial planning means deciding in advance how much to spend, on what to spend according to the
funds at your disposal. It includes long term investment decision. Financial Planning is the process of
estimating the capital required and determining its competition. It is the process of framing financial
policies in relation to procurement, investment and administration of funds of an enterprise.
Objectives
 Determining capital requirements
 Determining capital structure
 Framing financial policies with regards to cash control, lending, borrowings, etc.
 To ensure availability of funds whenever these are required
 To see that firm does not raise resources unnecessarily
Elements of financial planning
There are some key elements of financial planning including:
 Profit and loss statement
 Cash flow statement
 Balance sheet
 Sales forecast
 Personnel plan
 Investing
 Tax Planning
 Insurance and Estate Planning
 Choosing a Financial Advisor
 and maybe some business ratios and/or a break-even analysis
Steps of financial planning
The financial planning process is a logical, six-step procedure:
1) Determining your current financial situation
2) Developing financial goals
3) Identifying alternative courses of action
4) Evaluating alternatives
5) Creating and implementing a financial action plan, and
6) Re-evaluating and revising the plan.
INTRODUCTION TO FINANCIAL PLANNING

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Step 1: Determine Your Current Financial Situation
 In this first step of the financial planning process, you will determine your current financial
situation with regard to income, savings, living expenses, and debts. Preparing a list of current
asset and debt balances and amounts spent for various items gives you a foundation for financial
planning activities.
Step 2: Develop Financial Goals
 You should periodically analyze your financial values and goals. This involves identifying how you
feel about money and why you feel that way. The purpose of this analysis is to differentiate your
needs from your wants.
 Specific financial goals are vital to financial planning. Others can suggest financial goals for you;
however, you must decide which goals to pursue. Your financial goals can range from spending
all of your current income to developing an extensive savings and investment program for your
future financial security.
Step 3: Identify Alternative Courses of Action
 Developing alternatives is crucial for making good decisions. Although many factors will
influence the available alternatives, possible courses of action usually fall into these categories:
 Continue the same course of action.
 Expand the current situation.
 Change the current situation.
 Take a new course of action.
 Not all of these categories will apply to every decision situation; however, they do represent
possible courses of action.
 Creativity in decision making is vital to effective choices. Considering all of the possible
alternatives will help you make more effective and satisfying decisions.
Step 4: Evaluate Alternatives
 You need to evaluate possible courses of action, taking into consideration your life situation,
personal values, and current economic conditions.
 Consequences of Choices. Every decision closes off alternatives. For example, a decision to
invest in stock may mean you cannot take a vacation. A decision to go to school full time may
mean you cannot work full time. Opportunity cost is what you give up by making a choice.
This cost, commonly referred to as the trade-off of a decision, cannot always be measured in
dollars.
 Decision making will be an ongoing part of your personal and financial situation. Thus, you will
need to consider the lost opportunities that will result from your decisions.
Evaluating Risk
 Uncertainty is a part of every decision. Selecting a college major and choosing a career field
involve risk. What if you don‘t like working in this field or cannot obtain employment in it?
 Other decisions involve a very low degree of risk, such as putting money in a savings account or
purchasing items that cost only a few dollars. Your chances of losing something of great value
are low in these situations.

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 In many financial decisions, identifying and evaluating risk is difficult. The best way to consider
risk is to gather information based on your experience and the experiences of others and to use
financial planning information sources.
Step 5: Create and Implement a Financial Action Plan
 In this step of the financial planning process, you develop an action plan. This requires choosing
ways to achieve your goals. As you achieve your immediate or short-term goals, the goals next
in priority will come into focus.
 To implement your financial action plan, you may need assistance from others. For example, you
may use the services of an insurance agent to purchase property insurance or the services of an
investment broker to purchase stocks, bonds, or mutual funds.
Step 6: Re-evaluate and Revise Your Plan
 Financial planning is a dynamic process that does not end when you take a particular action. You
need to regularly assess your financial decisions. Changing personal, social, and economic factors
may require more frequent assessments.
 When life events affect your financial needs, this financial planning process will provide a vehicle
for adapting to those changes. Regularly reviewing this decision-making process will help you
make priority adjustments that will bring your financial goals and activities in line with your
current life situation.

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Session- 06
Introduction to financial (Small Business) planning (Cont.)
Session- 07
Financial Management (of small business)
Session- 08
Session- 09
Day-02

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SESSION- 06: INTRODUCTION TO FINANCIAL PLANNING (Cont.)
Business plan preparation
A business plan is a written document that describes a business, its objectives, its strategies, the market
it is in and its financial forecasts. It has many functions, from securing external funding to measuring
success within the business. In preparing business plan contents which are required to be included-
Executive Summary
 Most important part of your business plan
 Must be clear, concise and compelling so that people will read further
 Should be written after you have completed the other sections of your business plan
 Try to keep this section to around one page
Description of Company
 State company name, legal status and ownership structure
 Mission statement – should provide focus for your company and define your business for at least
the next few years
 Outline where your company has been and where you are at right now. If you are a startup
company describe what your company intends to do. Only include information that is relevant
to the product or service you are describing.
 How will this new activity add to or enhance your existing business
Product or Service
 Describe your product or service – what is unique about it and why will you be a success
 Indicate any regulations that will affect you and show that you have or can meet the
requirements
Market
 Outline the industry you are in, how you fit in and what will be your market share.
 Who is your primary customer? What are the demographics of this customer base? It is very
important to know your customers as success depends on you being able to meet customer
needs.
 Why have you chosen this customer base and how large is it? You need to know that there is
enough room in this market for you and that it is not already saturated.
 What are the trends that are influencing and affecting your market (customer base)? How are
you addressing these trends?
 Who is your competition and how will you be able to compete? By knowing and understanding
your competition you will be able to better position your product or service in the market
place.
 If your business is seasonal (ie u- pick operation), explain how you will handle this challenge
 What is the price of your product or service? How does this compare to similar products in the
market?
 How will you distribute your product?
Marketing Plan
 The marketing plan is very important - you can have the best product in the world but if you
have no sales, you have no business.
 How will you make customers aware of your product or service?
 Where will you sell your product (ie farmers‘ market, farm gate sales, retail, etc)?
 When will you launch your marketing plan?

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Operations
 Where will your business be located?
 What facilities and equipment do you have and what do you need?
 How will you run the business?
 How will you keep track of inventory?
 How will you keep costs down to remain competitive?
 What is your plan for growth?
 How does this business mesh with your existing business? It is important that you keep separate
records for each different business you have. This way you will know what is making you money
and what is not.
Management Team
 Investors pay particular attention to this section. They want to know that you have the right
people for your business.
 The quality of your people will determine the success of the business.
 Indicate who is on your team, their qualifications and responsibilities (ie production, marketing,
accounting etc.).
 If you do not have people in these positions right know because of the size of your business,
provide a time frame to put your team together.
 How will you overcome any labor shortages?
Financials
 Financial statements show where your business is at right now and provides you with the
information you need to make decisions.
 It is important to keep your statements current and to refer to them on a monthly basis.
 You should include the following financial forms with projections for three to five years:
o Income statement
o Cash-flow projections
o Balance sheet
 When making financial projections, it is important to explain any assumptions - how you
determined the figures you used.
 If you are looking for financial assistance, lenders will want to know where you will get financing
for your business and how you will spend the money. They will also want to see historical
records for the past three to five years.
Business plan format: Needs to include a sample format for business plan preparation and exercise.

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SESSION- 07: FINANCIAL MANAGEMENT OF SMALL BUSINESS
Financial administration
For managing financial administration the business needs to keep and maintain financial administration
records as given below:
 Record of all sales made together with copies of invoices issued
 A record of all the purchases and expenses of the business
 Invoices for all the business purchases and expenses
 Copies of the bank statement
Legal documents
It is of great importance to maintain a record keeping system of the following documents:
Document/
records
Details
Business Registration
Documents
Memorandum of Association, Article of Association, certificate of
incorporation, partnership deed, registration certificate with Shop and
Establishment Act
Documents related
to Tax
 National Tax Number (NTN) Certificate
 Sales tax registration certificate
 Employees‘ Tax Certificates
 Financial statements – in terms of the income statement and balance sheet
Financial Documents
and Records
 Sales analysis reports
 Expense analysis reports
 Financial statements
 Fixed Asset Register
Bookkeeping Records The financial records fundamentally include the following:
 Sales day book
 Purchase day book
 Cash receipt book
 Cheque payments book
 Petty cash book
 General Journal
FINANCIAL MANAGEMENT OF SMALL BUSINESS

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 Nominal Ledger
 Accounts payable Ledger
 Accounts Receivable Ledger
 Payroll System
Financial Statements  Statement of Financial Performance (Income Statement)
 Statement of Financial Position (Balance Sheet)
 Cash flow Statement
Other Records  Business minutes for meetings
 Business letters to clients, suppliers and other stakeholders
 Other documents
Importance of bookkeeping and financial administration
The importance of bookkeeping and financial administration can be gauged from the fact that they
provide accurate data and information for decision making in a business set up. The importance of
bookkeeping and financial administration is as discussed below:
 Bookkeeping and financial administration facilitates the keeping of accurate and complete records.
 Help to calculate taxes and their payment accurately.
 With proper and complete bookkeeping and financial administration, accountant charges calculation
shall be less complex, hassle free and time saving to prepare financial statements.
 Bookkeeping and financial administration ensures that the top management has control over the
project and that they can assess the profitability and cash flow situation of the business.
 Top management shall be in a position to make decisions on the basis of the reports resulting from
bookkeeping and financial administration.
Books of accounts maintenance
Every company is statutorily required to keep and maintain such books as are necessary to give a true
and fair view of the state of affairs of the company. A company shall keep proper book of accounts in
respect of the following:-
 All sales and purchases of goods by the company
 All sums of money received and expended by the company and the matters in respect of which
these have taken place
 The assets and liabilities of the company
 In case of companies which are engaged in production, manufacturing, mining or processing
activities, particulars related to utilization of material or labor or other items of cost as prescribed
by Central Government.

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Cash and bank books Management
Journal in which all cash receipts and payments (including bank deposits and withdrawals) are recorded
first, in chronological order, for posting to general ledger. Cash book is regularly reconciled with the
bank statements as an internal auditing measure.
When deciding whether one or more cash books should be created under a certain circumstance, one
has to examine its company structure and its operational needs. As a rule of thumb, following guidelines
are suggested:
SESSION- 08 & 09: FINANCIAL MANAGEMENT AND ANALYSIS
Ledger
A ledger is the principal book or computer file for recording and totaling economic transactions
measured in terms of a monetary unit of account by account type, with debits and credits in separate
columns and a beginning monetary balance and ending monetary balance for each account.
Ledgers include:
 Sales ledger, records accounts receivable.
 Purchase ledger records money spent for purchasing by the company.
 General ledger representing the 5 main account types: assets, liabilities, income, expenses, and
equity.
For every debit recorded in a ledger, there must be a corresponding credit so that the debits equal the
credits in the grand totals.
Stock and Sales
Managing sales transactions and monitoring stock inventory movement is essential for financial
management. If there is too much stock, it can cost money. The estimated cost of holding stock is ten to
thirty percent of the stock's value. This cost includes the storage, insurance, keeping accurate tracking
records, and controlling stock to avoid theft.
To review stock levels and stock sales volume:
 Determining current stock levels and the value of the stock.
 Looking at sales record with seasonal trends
 Working out which items of stock sold make the maximum gross margin.
 Making a list of slow moving, old and excess stock items and developing an action plan to move
this stock immediately.
 Updating stock records.

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Profit and Loss Analysis
A financial statement that summarizes the revenues, costs and expenses incurred during a specific
period of time - usually a fiscal quarter or year. These records provide information that shows the ability
of a company to generate profit by increasing revenue and reducing costs. The P&L statement is also
known as a "statement of profit and loss", an "income statement" or an "income and expense
statement".
Profit calculation
The profit calculation will be a group exercise.
1 Total revenue XXXXX
II Cost of Products Sold XXXXX
III (1-II) Gross Profit XXXXX
IV Expenses
Variable
Transportation XXXXX
Recreational XXXXX
Wages XXXXX
Fixed
Salaries XXXXX
Rent for premises XXXXX
Electricity XXXXX
Total Expense XXXXX
V (III-IV) Net Profit XXXXX
Productivity analysis:
Productivity Analysis is the assessment of the sales or market share consequences of a marketing
strategy
 Analysis of Historical Relationships
 Competitive Parity Analysis
 Market Experiments
 Judgment-Based Productivity Estimates
 What level of expenditure is needed to maintain current market?
 What minimum level of market share will result if expenditures are reduced to Zero?
 What level of market share will result if expenditures are increased by 50%?
 What is the maximum market share that could be obtained if expenditures were
unlimited?
 Cross-Elasticity Effects
 Substitution Effects
 Complementary Effects
o Related Use
o Enhanced Value
o Convenience

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ROI (Return on Investment):
A profitability measure that evaluates the performance of a business by dividing net profit by net worth.
Return on investment, or ROI, is the most common profitability ratio. There are several ways to
determine ROI, but the most frequently used method is to divide net profit by total assets. So if net
profit is BDT10,000 and your total assets are BDT. 30,000, ROI would be .33 or 33 percent.
Return on investment isn't necessarily the same as profit. ROI deals with the money invested in the
business and the return realized on that money based on the net profit of the business. Profit, on the
other hand, measures the performance of the business.
LET‘S DO MATH…

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Session- 10
Introduction to Market Development Approach
Session- 11
Understanding the Market Systems
Session- 12
Understanding the Market Dynamics
Session- 13
Steps of Value Chain
Session- 14
Value Chain Mapping and Analysis
Day-03

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SESSION- 10: INTRODUCTION TO MARKET AND MARKETING
Definition of MDA
Clearly there are many ways of defining what a ―Market Development Approach‖ actually means.
Market Development Approach (M4P) is an approach aimed at effectively and sustainably improving the
lives of poor people by understanding and influencing market systems. Applicable to development
agencies and governments working in economic and social fields, it is defined by several characteristics:
 An approach that provides guidance on understanding the poor in market systems (analysis) and
how to bring about effective change (action).
 A focus on developing market systems, by addressing underlying causes (rather than symptoms)
of weak performance.
 An ambition to unleash large-scale and systemic change.
 Sustainability is a prime concern of M4P. This means considering not just the existing
alignment of market functions and players but how they can work more effectively in the future,
based on the incentives and capacities of players to play different roles.
 A commitment to sustainability. This means considering not just the existing alignment of
market functions and players but how they can work more effectively in the future, based on the
incentives and capacities of players to play different roles.
 A facilitating role for external agencies; seeking to catalyze others in the market system (while
not becoming part of it themselves).
 A means to complement and strengthen established development methodologies.
MDA vs. Conventional Approach
Conventional Development Value Chain Development
 Better business performance and higher
incomes
 Organizations not institutions. Limited analysis
of systemic context
 Sustainability not applied to market system-a
buzzword
 Standard formula-driven interventions to
supply directly (and not stimulate others)
 Objectives-more effective and inclusive market
systems
 Grounded on a detailed understanding of
market systems
 An open and justified picture of sustainability
 Flexible interventions to ―crowd in‖ more
market activity
INTRODUCTION TO MARKET DEVELOPMENT APPROACH

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CONVENTIONAL DEVELOPMENT APPROACH
VALUE CHAIN DEVELOPMENT APPROACH
A value chain can be defined as all the firms that buy and sell from each other in order to supply a
particular set of products or services to final consumers. A value chain includes producers, processors,
input suppliers, wholesalers, and retailers. A value chain is defined by a particular finished product or
service (wood furniture, dried tomatoes, clothing production, etc.)

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SHIFT TO A NEW PARADIGM
From
To this:
Goal of Market Development Program-Commercially Viable Solution
Commercially Viable Solutions are not only…
 Training
 Technical Assistance
They are also……
 Finance
 Market Access
 Technology
 Information etc.

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Advantages and Disadvantages of Market Development Programmes
Advantages
Tighter framing of objectives and budget
Permits stronger facilitator ownership; allows
local players to be brought into assessment
process
Ensures consistency with wider funder or
government country strategy
Intelligence and insight is vital for intervention so
facilitators must have a role in assessment
Clearer guidance to bidders Reduces time delay between analysis and action
Disadvantages
Separates analysis from intervention; time elapsed
between getting information and taking action
Less specific planning and budgeting
Detailed planning creates unrealistic rigidity More time-consuming to ensure accountability
Tight specification to bidders encourages overly-
narrow response (e.g. skills and solutions)
Funders become distant from ―what‘s going on‖

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SESSION- 11: UNDERSTANDING THE MARKET SYSTEM
Market
A market is a set of arrangements by which buyers and sellers are in contact to exchange goods or
services- the interaction of demand and supply.
‘The System’
-A system that encourages competitiveness (Profits, efficiency, market shares, investment, capacity, skills,
innovation)
-Ability of firms/farms to perform effectively against others
-Sustained productivity-the value of good/services produced per unit of input (labor and capital)
The Market System (Frame work)
UNDERSTANDING THE MARKET SYSTEMS

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Core Market
The supply and consumption of goods and services; the core set of exchanges or transactions between
supply and demand-sides. This might include the poor as consumers, producers or workers and includes
non-monetary exchange as well as cash-based transactions.
Supporting Functions
A range of other functions support the core exchange, including:
 Product innovation and development: ranging from adaptation of products in existing markets to
new products for new markets.
 Skills and capacity enhancement: to ensure that market-specific skills and knowledge of different
market players are updated and refreshed.
 Research and development (R&D): the essential knowledge base that will allow specific products
to be developed, new insights into market mechanisms, underlying market trends.
 Policy formulation and review: the mechanisms by which government sets and assesses the
impact of policy, laws, regulations and other interventions which affect markets.
 Basic information provision that, for example, supports the development of markets generally
rather than specific products.
 Advocacy: to ensure that the interests of different market players are appropriately
represented.
 Coordination: to foster cooperation and mutual interests above and beyond those of any single
market player.
For example for dairy value chain the supporting function players are:
The supporting function players for dairy value chain are those who are not directly related to the dairy
value chain but provide different supports to different value chain actors. Following are the support
function players for the dairy value chain found in the study area.
a. Information Service Providers
b. Veterinary Service Providers
 AI Service Providers
 Vaccination Service Providers
 Paravets
c. Financial Service Providers
d. Infrastructure Service Providers
e. Transport Service Providers
f. Research & Development

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Rules & Norm Players
Formal and informal rules (and their enforcement) act to shape market outcomes and govern players‘
participation and behavior.
Rules can be of several types:
 Generally applicable rules such as contract, property, consumer and environmental protection,
weights and measures, health and safety, competition and tax laws.
 Sector-specific rules such as banking codes, telecommunications acts and land use and
ownership laws.
 Non-statutory regulations such as industry codes of good conduct and quality standards.
The enforcement of rules depends on the functioning of various organizations including the judiciary,
systems of regulation, inspection and licensing, revenue authorities, company and land registries, industry
regulators, local tax offices, and self-regulation mechanisms.
How rules are interpreted and applied is often shaped by social, cultural and political norms and
practices as much as by the letter of the law. Where formal rules and their application are weak, the
environment is governed by the informal.
Example: The rule, standard and norm players are not directly related to the value chain actors but
enable/disenable the environment of dairy value chain. These players influence the dairy value chain
actors and the business environment in terms of regulation, standards, laws, and informal rules & norms.
As per the findings of the study, the business enabling/disenabling players are-
a. Ministry of Fisheries and Livestock (MOFL)
b. Bangladesh Standard Testing Institute (BSTI)
c. CBOs formed by the REE-CALL project
d. NGOs
e. Bangladesh Bank
f. The haat and bazaar committees
SESSION- 12: UNDERSTANDING THE MARKET DYNAMICS
Market Actors
Market actors are the players who plays significant role in creating value to the selected subsector. If the
subsector is milk then the most probable market actors are: input producers, input sellers (Fodder
seller, medicine seller), and dairy farmers, milk traders (Milkman, Milk Collector, Collection Point), dairy
product producers (Local Sweet Shops/Tea Stalls, Industrial Processors), dairy product sellers and
consumers.
Role of Market Actors
I. Private Sector – provider of knowledge and information
 Product development
 Information flows
 Skill enhancement etc.
II. Business Networks – service provider

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 Advice
 Contacts
 Skills etc. (informally and formally)
III. Government – the norm player
 Regulations
 Standards creation
 Research
 Coordination
IV. BMOs – the advocate
 Advocacy
 Information
 Standard
V. Not-for-Profit Organizations (NGOs, Universities, Educational institutes)
 Credit
 Skill development
 Research
Importance of Market Actors
The importance of various market actors will be demonstrated by the participants to realize the
importance of each actors and their role.
Factors influencing the Market System
 Market systems are not private, but multi-functional and multi-player
 Market systems are interconnected and interdependent
o (Rules and supporting functions are often parts of other market system)
 Conventional market failure/public goods arguments are often based on narrow understanding
of markets and static…not very helpful for guiding interventions
WHAT DRIVES THE MARKET
Internal factors
 Market demand
 Consumer preference
 Technological changes
 Profitability of different niches
 Risks
 Barriers to entry
 Large-firm behavior
 Input supply
 Competition from importers
 Seasonality
External Factors
 Supporting functions (information, technology, product development, skill)
 Infrastructure
 Rules and regulations, norms, standards, law

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Complete market map:

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SESSION- 13: STEPS OF VALUE CHAIN
Definition of value chain: The Value Chain Map is a visual presentation of the product flows through
different channels from production to market.
Steps of dairy value chain
Step 1: Subsector Selection
Subsector Selection begins with a list of subsectors for consideration. If a pre-determined list does not
already exist, primary and secondary sources of information can be used to create one. Information on
subsectors to consider can be collected from interviews, surveys, and/or workshops with key
informants (who have a good general knowledge of the local economy).
Subsector
Selection
Subsector
Analysis
Identification
of Subsector
Constraints
Identification of
Commercially
Viable Solutions
Selection of
Solutions
Assessment of
Solutions
Identification
of
Interventions
Selection of
Interventions
UNDERSTANDING THE VALUE CHAIN

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The sector which has the greatest potentiality for growth in SE income and employment should be
selected for further analysis.
Step 2: Subsector Analysis
Gain a greater understanding of the operating context for SEs and intelligence on the market players,
their roles and interrelationships.
Once subsectors have been chosen the next step in the approach is subsector analysis. The basic
objectives of this analysis are to:
 Identify final sales market(s) and market segments
 Identify market channels and trends within the subsector
 Identify the primary actors in the subsector, their roles, and interrelationships (with emphasis on
linkages with targeted SEs)
 Create a subsector map that describes the above
 Identify constraints and opportunities that are holding back growth and competitiveness
 Identify commercially viable solutions that can address subsector constraints.
Step 3: Identification of Constraints and Opportunities
Determine key issues hindering SE growth and competitiveness in the subsector.
The identification of constraints and opportunities is not distinct from, but rather part of subsector
analysis. Using structured interview guides, subsector constraints and opportunities can be identified
during interviews with subsector participants.
Step 4: Identification of (Potential) Commercially Viable Solutions
Determine solutions can best address the constraints identified in Step 3
The identification of commercially viable solutions is directly linked to the subsector constraints
identified during subsector analysis. Once constraints are identified one can think of (potential)
commercially viable solutions that could address them. The true feasibility of the proposed solution will
be assessed in the next step.
Step 5: Selection of Commercially Viable Solutions
During this step, the commercially viable solutions identified earlier are short-listed and prioritized in
order to select those that will be subjected to more in-depth assessment. The short listing of solutions
can be done using short listing matrix which will focus on following two criteria:
 Potential for solution to result in increased income of target group
 Potential for the solutions to reach large numbers of beneficiaries.
Target specific solution(s) for more in-depth analysis

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Step 6: Assessment of Targeted Solutions
Once the solutions to target are selected, they undergo a more rigorous assessment. Information and
data on each targeted solutions are compiled and analyzed including:
 Existing providers
 Market size and penetration
 Frequency of use
 Demand and supply side constraints and opportunities
 Satisfaction with solutions or service
 Awareness of the solution or service
 Proposed provider(s) to target for interventions
 Feasibility of the solution (how costs for the solution are covered
Understand constraints to the sustainable supply/demand of the targeted solution(s).
Step 7: Identification of Facilitation Activities
A one day focus group discussion with subsector actors (producers, input suppliers, intermediaries,
exporters, etc.) is the principal tool used in this approach to identify facilitation interventions for
selected solutions. The main objectives of the focus groups are to
 Validate the assessments of solutions in the subsector
 Propose interventions that will support the provision and use of the solutions in a commercially
viable way
Determine facilitation activities which address the constraints of the targeted solution(s).
Step 8: Selection of Facilitation Activities
Once a list of potential interventions has been established, each intervention can be reviewed in relation
to specific criteria established by the implementing organization. This facilitates the selection of
interventions to pursue during program implementation. Examples of possible intervention criteria
include the:
 Extent of its impact on SEs (leveraged effect)
 Number of SEs that will benefit
 Cost effectiveness of the intervention (relationship between cost and impact)
 Chances of the intervention resulting in sustainable commercially viable solutions
 Capacity of existing commercially viable solution facilitators to implement or manage the
interventions
 Time frame for completing the intervention
 Availability of resources (human and financial) and donor interest
 Synergy of interventions among various commercially viable solutions
 Ability to promote ―win‖-―win‖ relationships between SE and larger firms.
Choose the most appropriate facilitation activities to implement.

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Value Chain Selection Criteria
Outreach:
 Number of significance of Micro, Small and Medium Enterprises (MSMEs) in the value chain
(these include producers who receive raw materials, finance, and other inputs from buyers and
who are pain on piece-rate basis).
Market Demand and Growth Potential:
 Evidence of strong effective demand for products being produced
 Demand for products exceeds supply (buyers have ready market for products but are unable to
meet demand)
 Unmet demand from municipal authorities or large public works projects
 Potential competitiveness of the subsector in relation to the world market
Significant Presence of MSMEs in rural areas:
 Number of MSMEs (at all levels of the subsector) that exist outside of the urban areas
Significance of Forward and Backward Linkages among Domestic Market Actors:
 The number and volume of transactions that take place among domestic market actors in the
subsector
Participation of Women:
 Number of women who are self-employed, own businesses or work as employees of other
firms in the value chain.

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SESSION- 14 & 15: VALUE CHAIN MAPPING AND ANALYSIS
Value Chain Mapping
The Value Chain Map is a visual presentation of the product flows through different channels from
production to market.
Importance of Value chain Mapping
 Provides a graphical presentation of the major actors and other players - support function
players, and other business environment enablers/dis-enablers.
 Illustrate their interrelationships.
 Helps to identify participants to interview.
VALUE CHAIN MAP – EXAMPLE:
VALUE CHAIN MAPPING & ANALYSIS

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Value chain map:

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VALUE CHAIN MAPPING CONVENTIONS
 The map lists functions vertically along the left–hand side or horizontally across the top
 Final markets are placed across the top or left-side
 Participants are boxes
 Height indicates how many functions participants perform
 The map aligns participants above those they buy from
 Arrows indicates the flow of products between participants
 Broken vertical lines indicate skipped functions
 Broken arrows indicates contract sales
 Dots indicate assembly points
 Width of shapes represent participants can be used to indicate relative size of each channel; size
can be in terms of number of participants, employment, sales value, or volume of production

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Session- 15
Value Chain Mapping and Analysis (Cont.)
Session- 16
Business Development Services
Session- 17
Private and Public Service providers and their Engagement in Milk, Meat & Fodder Market
Development
Session- 18
Facilitation & Facilitator
Session- 19
Designing & Development Interventions for Milk, Meat & Fodder Market Development
Day-04

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Market Constraints and Opportunities
The identification of constraints and opportunities is not distinct from, but rather part of, subsector
analysis. Using structured interview guides, subsector constraints and opportunities can be identified
during interviews with subsector participants.
Market Constraints:
Constraint is something which is a part of any physical, psychological, social, and financial and market
related limitation which does not allow achieving the goal. And Market constraint is something related
with every actors which limits their flow of activity to do their business in proper way.
Constraint Example:
―Lack of practice of good hygiene techniques by farmers is preparing and transporting raw milk results in
loss of production due to spoilage and incidences of foreign matter in raw milk‖
Market Opportunities:
Market opportunity of a product is actually the potentially favorable condition in which the product can
capitalize on a changing trend or meet an increasing demand for the particular product. To identify
market opportunity a business must know about its current and potential customers, its size and its
capacity to grab the market.
Type of Constraints/Opportunities
 Technology/product development
 Market access
 Management and organization
 Finance
 Input supply
 Policy
 Operating Environment
 Infrastructure
Type Dairy Value chain Constraint Dairy Value chain Opportunities
Technological/
product
Development
Lack of proper knowledge of farmers on
milking management leads to inefficient
maintenance resulting in increasing cattle
disease and decreasing production
1. Preservation of cow feed for off-season
will reduce the cost of production and
increase the income of dairy farmers
2. Encouragement of rearing high yielding
and high disease resistant buffaloes will
increase the income of dairy farmers
reducing their cost of rearing and
disease management

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Type Dairy Value chain Constraint Dairy Value chain Opportunities
Market Access Lack of storage facilities for sales for milk
traders (milkmen, traders, collection
points) leads to low sales volume which
results in low price
Establishing more chilling points through
industrial processors will encourage the
dairy farmers to go for more intensive dairy
management leading to the growth of the
sector
Organization
and
Management
Lack of knowledge of dairy farmers on
better Disaster Risk Reduction technique
leads to higher damages which results in
low productivity
Policy Lack of government contracting
procedures that favor MSMEs reduces
their opportunity to engage in public
sector bids.
Finance Lack of specialized source of finance for
the dairy farmers leads to poor feeding
quality & improper care of cow resulting in
low dairy productivity
Input Supply 1. Insufficient supply of quality semen ,
medicine, vaccine, fodder seed, feed
leads to substandard cow rearing with
lower disease resistance which results
in higher mortality & low dairy
production
2. Lack of knowledge of dairy farmers on
fodder cultivation leads to fodder
scarcity which results in low dairy
productivity
1. Promoting fodder cultivation in char
lands will make quality feed available
and increase dairy production
2. Introducing preparation of UMS(Urea
Molasses Straw), UTS(Urea Treated
Straw) and UMB(Urea Molasses Block)
will increase the availability of quality
feed which will lead to dairy production
Infrastructure 1. Poor roads in Chars increases
transportation cost and wastage rate
2. Unavailability of transportation system
(road, vehicle, container, milk
transporter) leads to lower access in
market which results in low price

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SESSION- 16: BUSINESS DEVELOPMENT SERVICES
Definition and Types of BDS
A Service that is sustainable through private sector transactions and that improves the performance of
the enterprise, its access to markets, and its ability to compete.
 Fee Based Service: can be bought ‗stand-alone‘ individually
 Embedded Service: are combined with physical goods or other services
 Public Benefit Service: are provided collectively
Provider and appropriateness
Every business has its appropriate business services. It is very important to have knowledge and
understand the appropriateness of the service provided for the business. The business service provider
provides
 Information services
 Veterinary services
 Financial services
 Infrastructure services
 Transport services
 Research and development services
Vision
The ultimate objective of donor intervention in Business Development Services (BDS) is to improve
small enterprise (SE) performance in developing countries, as a means to achieve higher economic
growth and employment, reduce poverty and meet social objectives. Better BDS is only one means to
these ends. Improving SE performance requires many ingredients, such as a policy environment
conductive to enterprise competitiveness, access to financial and non-financial services and expanding
markets for SE products and services. These Guiding Principles are not intended to cover all of these
elements, but rather the specific contributions which BDS can make to small enterprise development.
The ultimate vision for BDS, on which these Guiding Principles are based, is of a well-functioning market
with a diverse array of high-quality services that meet the needs of a large proportion of SEs affordably.
Thus, these Guiding Principles are based on a private sector-led, market economy framework which
reflects:
 A fundamental belief in the principles of a market economy, where the state has a role in
providing an enabling environment, in correcting or compensation for market failures, and in the
provision of public goods, but not in the direct provision of private goods that can be more
efficiently provided by the market;
BUSINESS DEVELOPMENT SERVICES

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 The assumption that the majority of BDS are private goods and are thus similar in nature to any
other service, so market rules apply and
 The expectation that with appropriate product design, delivery and payment mechanisms, BDC
can be provided on a commercial basis even for the lowest-income segment of the
entrepreneurial SE sector
Scope of BDS
Business Development Services include training, consultancy and advisory services, marketing assistance,
information, technology development and transfer and business linkage promotion. A distinction is
sometimes made between ‗operational‘ and ‗strategic‘ business services. Operational services are those
needed for a day-to day operations, such as information and communications, management of accounts
and tax records, and compliance with labor laws and other regulations. Strategic services, on the other
hand, are used by the enterprise to address medium- and long-term issues in order to improve the
performance of the enterprise, its access to markets and its ability to compete. For example, strategic
services can help the enterprise to identify and service markets, design products, set up facilities, and
seek financing. The market for operational services may already exist, since there is often articulated
demand and willingness to pay for these services. In contrast markets for strategic services for SEs have
largely failed to develop, and they are the focus of most donor interventions in BDS.
However, what constitutes a ―strategic‖ service may vary according to time and circumstances. For
example, communication services may simply facilitate normal business operations for larger enterprises,
but for micro enterprises they may be a crucial vehicle for strategic reorientation. Responding to the
immediate SE demand for lower-end services may also lead to greater demand for higher-end services,
so they are a legitimate focus of donor interventions to build SE competitiveness. For this reason
―business development services‖ are defined broadly here to include a wide array of business services,
both strategic and operational. This implies a variety of markets through which such services may be
provided, with different structures (competitive or concentrated), patterns of evolution and implications
for how to intervene.

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ASSESSMENT OF BUSINESS SERVICE
Business Services in rural market
Rural markets mean large, diverse and scattered markets whose main consumer‘s income source is
agricultural activities. Comparatively rural markets are weak markets than urban markets because:
 Farmers have relatively less ‗cash‘ purchasing power than urban entrepreneurs and
 Farmers are relatively more dispersed than urban entrepreneur.
So the market Development in rural markets concentrates on embedded services.
BDS Actors and their roles
The actors involved in BDS markets include:
Small Enterprises (SEs), the demand side of the market, are microenterprises and SMEs that are
mostly profit-oriented and are the actual or potential clients of BDS providers.
BDS providers provide services directly to SEs. They may be individuals, private for profit firms,
NGOs, parastatals, national or sub-national government agencies, industry associations, etc. They may
be small enterprises themselves. They may also be firms whose core business is not service but who
provide them as part of a broader transaction or business-to business relationship.

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BDS Facilitators support BDS providers, for example by developing new services products,
promoting good practice, and building provider capacity. BDS facilitators can also work on the demand
side, for example by educating SEs about the potential benefits of services of providing incentives to try
them. Other BDS market facilitation functions include the external evaluation of the impact of BDS
providers, quality assurance, and advocacy for a better policy environment of the local BDS market. BDS
facilitation is a function normally carried out by development-oriented institutions having the objective
of BDS market development, which may include NGOs, industry and employers‘ associations,
government agencies and others.
Donors are entities who provide funding for BDS projects and programs. In some cases, the facilitator
is the project office of a donor.
Government and other agencies like donors may provide funding for BDS projects and programs.
Beyond BDS interventions, the principal role of governments is to provide and enabling policy, legal and
regulatory environment for SEs and BDS providers, as well as public goods such as basic infrastructure,
education and information services. There are also may be some facilitating functions which
governments can play in the future, to promote more vibrant service markets.

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SESSION- 17: PRIVATE AND PUBLIC SERVICE PROVIDERS AND THEIR
ENGAGEMENT IN MILK, MEAT & FODDER MARKET DEVELOPMENT
Private and Government Sector
Government‘s role focused on core competence within capacity but recognition of options in playing
different roles. Direct delivery where it is appropriate but less emphasis has been given on this matter.
Government is acting as progressive regulator, standards creator/enforcer, researcher and coordinator.
Capacity to play these roles currently is often weak. In other words, government will play the lead role
in ensuring that public purpose of market development is pursued
For example in Dairy sector the rule, standard and norm players are not directly related to the value
chain actors but enable/disenable the environment of dairy value chain. These players influence the dairy
value chain actors and the business environment in terms of regulation, standards, laws, and informal
rules & norms. For this sector, the business enabling/disenabling players are-
 Ministry of Fisheries and Livestock (MOFL)
 Bangladesh Standard Testing Institute (BSTI)
 NGOs
 Bangladesh Bank
 The haat and bazaar committee‘s
Private sector (any size or ownership form, ranging from self-employed to substantial corporations)
assuming more roles including embedded services with commercial linkages. In most markets the private
sector will become the lead provider and in an increasing proportion of supporting functions.-product
development, information flows, skill enhancement –are likely to be undertaken by them.
The role of private sector is becoming very important as a formal (media) and informal (in embedded
services) provider of knowledge and information.
 NGOs
 Private Companies of dairy products, meat processing company
PSA engagement in market system
PSA should get involved in market system and effort should be made to attract larger, more capable
private sector players, such as BRAC or RD Milk (as the supply of milk increases). PSA can be engaged
through various contributions such
 Investment
 Information dissemination
 Financial support
 Capacity building
 Decision making etc
PRIVATE AND PUBLIC SERVICE PROVIDERS AND THEIR
ENGAGEMENT IN MILK, MEAT & FODDER MARKET
DEVELOPMENT

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SESSION- 18: FACILATION AND FACILITATOR
What is Facilitation or a Facilitator?
Definition –Action or agent that seeks to bring about change in market system in order to achieve a
public benefit or outcome.
 Catalyst- stimulating the market but not becoming part of it.
 Public outcomes through market development.
 Making markets work better for excluded and disadvantaged groups: vibrant, diverse and
inclusive
Vision -Clear, realistic view of future functioning of market system (sustainability)
Objectives- bringing about systemic change
Motivation- Achieving public outcome through market development (usually using some public
resources)
Importance of facilitator and facilitation
 To identify the problems, distortions, and inefficiencies that are hindering expanded outreach
and increased access as well as the opportunities for building a market,
 To help determine what actions to take to address distortions or seize opportunities and by
whom, and
 To catalyze—directly and in collaboration with donors and others —market actors to build a
sustainable market that serves the excluded.
What does Facilitator do?
Given the diversity of market contexts in which facilitators might operate and the array of potential
market problems that they might face, a blue-print or handbook for facilitation would not be realistic. In
reality, facilitators might be required to undertake combinations of actions to generate results along the
pathway to crowding in, which could include:
o Informing
o Education
o Studying
o Linking
o Persuading
o Mentoring
o Training
o Financing
o Mediating
o Demonstrating
o Networking
o Convening
This diversity is a strength and a weakness: positive, because it permits flexibility and responsiveness,
rather than rigid adherence to a standardized approach; negative, because-superficially at least- it can be
used to justify almost any form of intervention, simply by attaching a market development label (the ―old
wine and a new bottles‖ syndrome). However if there is one hard-and-fast rule that has emerged from
FACILITATION

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experience it is to treat direct injections of finance into the market system with caution. This brings us
to the subject of subsidy.
Facilitation Strategy
The essence of market development and facilitation is stimulating market players to do things that they
are currently not doing (or not doing well)
Explicit about leveraging action or commitment of others
 Strategy for any intervention is to determine a ‗pathway to crowding in‘
- ..Which recognizes the importance of ‗indigenous‘ ownership that interventions are
time defined with finite resources
- ..Which establishes credible exit strategy from outset against which progress can
measure
Time & resources: finite or transactional actions (exit strategy)
 It is this pathway, as much as anything, that should guide what facilitators do
Deal Making: It is a strategy to create a transparent market system within the market players.
It deals with all the market actors involved in milk, meat and fodder business.
Crowding in
 The nature and potential for crowding in will vary according to context
 At its most basic we are concern with new/improved ‗take up‘ of market functions by
indigenous players
- Independent, sustainability activity
- Ideally, for many functions, competition and diversity
- However in ‗thin markets or for many public functions strong completion is not
always feasible
- Here crowding in might refer to take up transparency, scrutiny and redness-related
functions or rules by other market players
Who should we work with?
Possible criteria
 Appropriate capacity
 Clear incentives
 Demonstrated ownership (new arrangements in the system)
 Existing momentum
 Potential for viability
 Responsiveness

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