This document provides an overview of marketing concepts for developing products for the developing world. It discusses the 4 Ps of marketing - product, price, promotion, and placement. It emphasizes the importance of understanding customer needs and involving customers in the product development process. The document outlines various marketing research techniques including primary research by interviewing local customers, secondary research of literature and data, and proxy research through local contacts. It stresses the importance of identifying target customer segments and considering local cultural and economic factors that may present barriers to adoption.
Market research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy.
PCSC2: Primary Research Strategies: How to Build a Million Dollar BusinessProduct Camp SoCal
Kevin Gentry, PhD and Rebekah Paul's presentation from ProductCamp SoCal. Held November 6, 2010 at Cal State Fullerton - The Mihaylo College of Business & Economics.
Market research is any organized effort to gather information about target markets or customers. It is a very important component of business strategy.
PCSC2: Primary Research Strategies: How to Build a Million Dollar BusinessProduct Camp SoCal
Kevin Gentry, PhD and Rebekah Paul's presentation from ProductCamp SoCal. Held November 6, 2010 at Cal State Fullerton - The Mihaylo College of Business & Economics.
The myth says that if your dog is a victim of skunk spray, you should wash with tomato juice. Don't believe it. The recipe is in this slide presentation.
Brain-computer interface (BCI) is a fast-growing emergent technology, in which researchers aim to build a direct channel between the human brain and the computer.
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- To Understand the Importance of Consumer Research for Firms and Their Brands, as Well as Consumers.
-To Navigate Steps in the Consumer Research Process using Models & Frameworks.
- To Explain the Importance of Establishing Specific Research Objectives as the First Step in the Design of a Consumer Research Project.
How to ace your next marketing internship: cultural fit, leadership aptitude, and marketing knowledge. From acing the interview to negotiating your offer.
Understanding customers is a fundamental activity of professional Product Management. There are many ways of gathering research that will help develop this understanding and this "Briefly Explained" presentation provides context to the What, Why and When of these different methods.
This slide deck covers why primary market research (aka customer development, customer research or customer empathy) is important and necessary, outlines how to organize a successful research program, provides a sampling of common qualitative and quantitative primary market research techniques, and provides an FAQ section on common questions.
As a Product Manager, Market research is a critical aspect of your responsibility. This presentation provides some key do's and don'ts as it relates to doing customer interviews and market discovery.
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[Note: This is a partial preview. To download this presentation, visit:
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Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
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Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
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Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
3. Since last week
• Friday phone conversation with Landivar
– They are working on the developing world barriers
thought process
– We will meet with them by Skype on Thursday
mornings
• They may be one lecture behind at the end of the week but
they will have seen the Tuesday Lecture and the Thursday
ppt.
– Tried Adobe collaboration product
• Not impressed
– Teams formed?
5. What is Marketing?
4 Ps of Marketing
Process of planning and executing
•
•
•
•
Product
Promotion
Pricing
Place (or distribution system)
of ideas, goods and services to satisfy
customers
True for developing world as well
6. Importance of Marketing
• Perhaps the single most important failure mode in the
product development process
– Sloppy research (confirm prejudices)
– In development, not really understanding the customer
• Poor communication
• The “Margaret Mead” effect
– Ephemeral nature
• Not in an equilibrium state
– (right
wrong)
– Poorly coupled to design
• Treated as a separate activity
– Too well coupled into design
• Constant changes in specifications
7. Some good attributes
• Strong Customer involvement
– Customer cares
– Customer has “pain”
• Can define market segment (to be
discussed)
• Market growing
• Competitive advantage
• Others
9. Consider in turn
• P1 Product
– Needs identification
– How product would actually be used
– Context discovery
– Brainstorming of concept
– “Chilero” or coolness
– Modification of existing product for new
market
10. Consider in turn
• P2 Pricing
– What the customer can afford
– What value does the product bring
– What financing arrangements are
possible?
– What is the price of a competitive product?
– What price is necessary to return a profit?
• What is the reason for keeping the
price as low as possible?
• How does the cost effect the price
(don’t confuse!)?
• Is it “immoral’ to earn a “fat” profit?
11. P3 Promotion
Consider in turn
– How do you make the customer aware of the existence of
the product?
•
•
•
•
•
•
Word of mouth
Brochures pictures?
Demo at market
Someone use it for free
Product advertises itself
Radio
– Evangelical stations
• Use Saturday loudspeakers
• Door to Door
• Use local languages
– How can you generate excitement about the product?
•
•
•
•
Pizzazz
Personal experiences- testimonials
Promotion lower price
Celebrity endorsements football players, community leaders,
church leaders
– What are the costs of Promotion
• Need to budget
12. Consider in turn
• P4 Placement (Distribution)
– How do you get the product to the
customer?
– Consider where it will be
manufactured
– Consider who will sell it? (effect on
price!)
– Consider how you get it to the
person who will sell it
– Consider how it will be maintained
13. Marketing Research
• Primary Research
– Original research - data collected from the
target market
• Secondary Research
– Meta research- data collected from literature,
internet
We have defined a third research
classification
Proxy research
– Research through knowledgeable third parties
• People with first hand experience in the specific
market
14. Marketing Research
• Primary Research
– Original research- data collected
from the target market
• Landivar students lead here
– Use in-country contacts (NGOs, professors,
other students)
• Use teleconferencing
• Interview people from indigenous
villages in LA?
• Other?
15. Marketing Research
• Meta research- data collected from
literature
• trade association data
• industry publications and databases
• “Economist” and other publications
• government databases (e.g., US Dept of
Commerce, State Dept, Guatemalan
trade)
• UN, NGO databases
• Other?
Go quickly from general to particular
16. Marketing Research
– Proxy research- data collected
from people with first or second
hand information
• Mentors
• Returning Peace Corps volunteers
• Returning NGOs
• Landivar partners
• Others?
17. Target Markets
• Who are the people who will use your product?
– Geographic
• Location, climate, population size and growth rate
– Demographic
• Age, sex, ethnicity, income, occupation, education
– Psychographic
• Life-style, activities, interests, opinions
– How will they use product (use patterns)?
– What benefits will they derive?
• Do for
– Primary market- the first market addressed
– Secondary market- the next market(s)
19. Barriers
• What are some of the reasons why your
customer won’t adopt your product?
• What can you do to mitigate this risk?
20. After approval of your Mission
Statement. . .
Research Market
– Begin Research
• Write script
21. Script
• Begin with Market hypotheses (3-6)
– Examples?
• Design questions to test these hypotheses
• Keep short- you are using up people’s
time!! 30 minutes tops. 10 minutes better
• Can your customers use internet?
http://www.surveymonkey.com/
http://www.zoomerang.com
22. Market segmentation
• Market “strategy”
– There are 1.3B Chinese. Even if we got only
1% of the market. . .
What’s wrong with this?
23. The Technology Adoption Model
as the Basis for Segment Focus
Rate of Adoption
Early Majority
Late Majority
Early Adopters
Innovators
Laggards
Time
A measure of the rate of adoption of a cluster of new technologies by a
community over time
Where are you on this curve?
24. The New Idea Adoption Model in
the developing world
as the Basis for Segment Focus
Rate of Adoption
Early Majority
Late Majority
Early Adopters
Innovators
Laggards
Time
A measure of the rate of adoption of a cluster of new ideas by a community
over time
Where is your target segment on this curve?
25. The New Idea Adoption Model in the developing
world
as the Basis for Segment Focus
Rate of Adoption
Early Majority
Late Majority
Early Adopters
Innovators
Laggards
Time
Consider age, sex, leadership position in village, respect,
income, political savvy, entrepreneurial spirit, etc.
26. Generate Hypotheses & Identify Underlying Assumptions
EVALUATION
QUESTIONS:
For Which
Customers Do
I Solve
Important
Problems?
Does The
Value vs.
Competitive
Alternatives
Justify
Change?
How Many
Customers &
What Will
They Pay?
Requirements
to Attract, Sell
& Support
These
Customers?
State your
assumptions
regarding
what your
product is,
what it does,
and the
implications
for related
technologies
Quantify the
problem you
solve vs.
alternatives in
each target
segment
By Industry
By Application
(Use the
product to…)
By other
segment
variable
Quantify total
cost of
adoption/
switching vs.
current methods
or alternatives
for each target
segment
Is it worth it to a
customer?
Consider the
cultural issues
that are barriers
to change!
Why will solving
this problem be
important to
more
customers over
time?
What will
customers be
willing to pay &
what are the
implications for
your business
model?
What will it take
to generate
word-of-mouth
and “brand”
awareness?
What kind of
distribution
model does the
business model
require?
What support
will customers
need to evaluate
and use the
product?
27. Recruit Interview Targets
• How do I get them to talk to me?
– Use your personal, student and other Guatemalan
contacts!
– Remember 6 degrees of separation! Do you know
someone who knows someone?
– Email addresses and numbers often on the web
– Tap your network for contacts, kiss frogs
– With IPOs, you are a credible student group
building products and services for Guatemala. -meeting is a chance to influence those
investments
– With American Universities use the Caltech name!
Be shameless!
– From Guatemalan company names get HQ city,
find phone number.
28. For the real customer
• Develop relationships in the village
through multiple contacts
• Socialize
• Help them with what they are doing
• Use influencers (heads, other volunteers)
• Others
• (Landivar! Help!)
29. Interview
• How do I approach them?
– Use your 30-second pitch for in-person
calls
– E-mail, follow-up phone calls work well
– Send them a 2-pager on what you know to
date
– Provide agenda and general topics in
advance -- gives the target a chance to
think
30. Open Ended Interview Questions
• Flow from general to increasingly specific, but
always open ended
• Question “DOs”
– Why? How do you measure that? How do you define
that term? What’s working, what isn’t? Can you
draw a diagram of that so I can see where it fits in
your overall problem? How did you determine the
value of that? How would you make tradeoffs among
those things? How will you remove barriers to your
success? What would the ideal situation look like?
• Question “DON’Ts”
– Don’t you think if…? Would you like it if…? Black or
white, yes or no…? We think, what do you think? If
we do this, will you do that? What do you want?
What will you pay for it? What should we do?
31. Competition
• The competitive landscape
Note: Size of circle
can represent market share
B
A
Price
– Provide an overview of
product competitors, their
strengths and weaknesses
– Position each competitor’s
product against new product
– No competition is also
competition i.e., “doing
nothing” is an alternative
C
D
Performance
32. “Competition”
• Why have previous attempts at
development products failed in your
marketplace
• How are you going to do better?
• Why should you succeed?
• Write as hypothesis and test in your
market study
33. Stakeholders
• Who has to touch the product and the
process for it to be successful?
– Consider everyone involved
• Everyone who can help
• Everyone who can get in the way
Important part of understanding market
-people you ignore at your peril