Four M’s of Production  Publicity

- using the media through press

1. Manpower releases, talk shows which contributes
- workforce, who will help the business to the introduction of new product
to produce products

A entrepreneur needs to hire a good and  Personal Selling

competent people to produce quality - the entrepreneur is the salesperson for
products. the new enterprise
“People can be honest but may not be - the spokesperson, ambassador and
capable or competent and some are representative
capable but not honest”
3. Materials
 Management Team - anything used as input to production
- it is extremely important to make and manufacturing
appropriate assignment of - can be raw or an finished product
responsibility for the implementation of
marketing plan. Raw Materials
- must build effective management - first harvested, extracted and processed
team to produce semi- finished materials.

 Hiring Human Resource  Suppliers

- important determinant of business - suppliers used are generally based on
location and functioning a number of factors such as price,
- availability of labor for different skill delivery time, quality, and
level are important to business management assistance.
- where raw material are scarce or there
An effective hiring procedure includes are only a few suppliers of a particular
the answer to the following questions; raw material, the entrepreneur has
little control over the decision.
• What are the requirements of the jobs
to be filled? Raw material procurement and planning
• What kinds of persons are needed? are critical to success of a start-up. The
• How many persons are needed? raw materials required may be:

2. Method  Domestically available

- ways in producing the product from (within the country)
raw - our country is a resource rich
- conventional approach to marketing country with abundance of specific
by the marketer materials in different states.
- appropriate suppliers of raw
 Traditional method materials have to be selected
 Machine- assisted and automated
 Imported from abroad:
 Advertising - importing the raw materials the Gov
- an investment and creates rules and regulations have to be
opportunities for the product to be followed.
discovered by the market
- The Director General of Foreign 3. Tell the full story
Trade shall advise Central Government
in formulating export and import policy When it comes to telling a story in your
and implementing the policy product description, try to answer these:
 Who originally made this product?
4. Machine  What inspired them to make this
- next important step is choosing and product?
ordering of right machinery and  What was the journey of making
equipment. this product?
- machinery and equipment required  How would this product look in the
may be either domestically available or buyer’s day-to-day life?
imported
4. Use natural language and tone
“Running a business is a complex
process and all of these elements 5. Use power words that sell
interplay” Example:
Amazing, Courage, Bravery, Blissful,
Product Breathtaking, Delight, Daring
- is anything that is offered to the
market to satisfy consumer wants, 6. Make it easy to scan
needs, and demands.
- can include goods, services, people, 7. Use good images
and ideas - 63% of customers think that a product
image is more important than the
Product Description description or even review
- marketing copy that explains what a
product is and why its worth purchasing Prototypes
- first versions of the product
Tips on developing product
description : Creating Prototypes Steps:

1. Know who are your target audience 1. Create a concept sketch

- first step toward turning your idea
As you are writing your product into reality is getting it down on paper
description, keep these questions in - u save time drawing in paper instead
mind: in digital drawing
 How did this person arrive to your
page? 2. Develop a Virtual Prototype
 What are his or her interests ? - standard digital design tool used by the
 Why would this person be engineers is ..
interested in your business? AutoCAD ( Computer - Aided Design)
 How would this person describe the which enables them to make both 2D
product to a friend? and 3D
 What features or benefits would
interest this person the most? 3-D rendering test
- lets u rotate and animate your virtual
2. Focus on the Product benefits sketch
3. Build a physical prototype
- Once you have a virtual prototype,
you're ready to build a physical
prototype.
- One way is going to a professional
prototype designer.
- An alternative is getting a designer or
engineer to build your prototype.

4. Test the product prototype

Test marketing
- involves selling the prototype in
either a real or simulated market
environment.

Standard test marketing

- introduces the product and the
marketing strategy in the actual
environment

5. Validate its market acceptability

- done trough simulation of test
markets that will re create a market
environment
- simulated test markets have also been
computer generated. Biggest problem
here is that they are artificial and do not
always reflect actual buying behavior
- giving samples to family and friends
may be convenient option