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Product Development Product Planning Realisation Strict Development Idea Finding Policy Formulation USE Formulating Goals & Strategies Generating and.

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Presentation on theme: "Product Development Product Planning Realisation Strict Development Idea Finding Policy Formulation USE Formulating Goals & Strategies Generating and."— Presentation transcript:

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2 Product Development Product Planning Realisation Strict Development Idea Finding Policy Formulation USE Formulating Goals & Strategies Generating and Selecting Ideas Market Assesment Production Product Policy New Business Idea Product Designing Production Development Marketing Plan Product Design Production Plan Distribution & Sales New Product Development Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 32

3 VISION/Mission TO BE SET What vision do your company have have - Time scale - Scale of entreprise - Turnover of entreprise - Number of employee What mission would your entreprise carry - National - Technology - Environment - Human development, etc Does it achieveable ? Preparing the first move Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 33

4 Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 34

5 Your Company & Business Ideas answers these questions: *Who are you/your company? *What do your company want? *What will it be like? *Why will your company succeed? *Why will your compnay fail? *How big is a business? IDEAS looks at two ways to select a business idea: *What are your company skills? * Which is the best market? Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 35

6 YOUR COMPANY The greatest determinant of the success of your business is SELF ANALYSIS : your company, your company character and skills. This you must believe if your business is to have any chance of prospering. Do not blames external factor for failure and underestimate for your decisions impact. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 36

7 WHO ARE YOU/your company? The indications that can be reached are : –not all business have the necessary ingredients for success, –there may be many company who possess the vital skills and characteristics in full, but fail to take advantage of them. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 37

8 WHAT DO YOUR COMPANY WANT? –An important part of your self-analysis should include what it is your company hope to achieve –Note what your company objectives are. –Part of your self-analysis should be to see how good or how bad a match your company objectives are to the reality Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 38

9 WHAT WILL IT BE LIKE? –Most probably the answer is much worse than you can imagine. One of the more dispiriting aspects is that while you may expect hard work for one or two years, it could continue for several. Taking advice, such as counselling, and training are both likely to improve your chance of success. –If your company manage to survive, life will not always be easy. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 39

10 WHY WILL YOUR COMPANY SUCCEED. To be successful if it fulfils three criteria: 1. the people involved realistically assess their strengths and weaknesses and try to overcome shortcomings. This is the most important criterion. 2. the idea and the market for it has the necessary growth potential and you have experience in that market 3. financing is sufficient to cover the shortfall of working capital, especially in the early days. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 310

11 If you cannot fulfil these criteria at the moment, do not accept defeat; you may be able to in the future. You should already have some self-knowledge about your strengths and weaknesses as an owner-manager. 'Are you sure?, checklist can be used as a quick test of where you stand. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 311

12 WHY WILL YOUR COMPANY FAIL? –Your company will fail if your operation does not match up well to the three criteria mentioned above. –Many causes of failure are a result of lack of skills. –You do not have to be an expert at everything; but you do have to appreciate the importance of all these aspects so that you can control your business properly. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 312

13 HOW BIG A BUSINESS? –One factor to consider at an early stage is which track are you in. You may know, from the assessment of your skills and character, that the most you aspire to is being a business, pottering along steadily or else Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 313

14 BUSINESS IDEAS Business Idea does not have to be novel, original or revolutionary. Should not veer away. Being first is not always best. –To offer such a product has to educate a market and possibly establish a distribution structure. –Into a market can capitalise on all the effort and investment made by their predecessors. –The ideal product or service to choose as a basis for your business is one which you can distinguish from the competition by including some additional feature or benefit which is not available in other products. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 314

15 BUSINESS IDEAS  Draw up a shortlist of two, three or four ideas which you can define and research before selecting the one to run with. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 315

16 BUSINESS IDEAS Choosing an idea. There are two possible ways:  using an established skill, product or knowledge, and, in general, this gives you the greatest chance of success  identifying a market which looks ripe for development by your business and acquiring the necessary technique and knowledge. Your business will not succeed if you have the skill or product but not the market, and vice versa. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 316

17 BUSINESS IDEAS WHAT ARE YOUR COMPANY SKILLS?  expertise. Your company expertise may be acquired as a result of staff education or training on the job.  Skill which they have acquired in their spare time as a hobby. The disadvantage with these is that you have not acquired any of the business knowledge needed to turn hobbies into a living. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 317

18 WHICH IS THE BEST MARKET? Research some markets in which you believe there are profitable opportunities. The ideal market to base your business in is one which: –is growing or is large –is supplied by businesses which are not efficient or are outdated –has a niche or sector which you can exploit –is not heavily dependent on price to help consumers select one product rather than another –is not already supplied by products which are heavily branded, that is, there is not considerable customer loyalty to products from one or more businesses –is not dominated by two or three very large suppliers, but instead has number of smaller would-be competitors. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 318

19 Do not be afraid of competitors; they prove that there is business there to get. If you need to raise money, the decision-makers will want to see some, if not considerable, knowledge and experience in that market. If you do not have it, you have to concentrate instead on demonstrating your all-round business skills and experience, the strength offered by your character and abilities, and the research you have undertaken into your chosen market. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 319

20 NO IDEAS AT ALL? Try organizing what is called a brainstorming session. Spend a couple of minutes outlining the sort of idea you are after and what you have already considered but dismissed and why. Ask for other people reactions and hope that some ideas will emerge. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 320

21 BUSINESS IDEAS DEFINING YOUR BUSINESS IDEAS Draw up a short list of two or more ideas. –Draw up a pen portrait of each idea. –Carry out research before encapsulating your final choice in a detailed business plan with realistic forecasts. definitions of a couple of the most promising ideas, you will find that during the detailed estimation and calculation stage, one idea will emerge as the favourite. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 321

22 BUSINESS IDEAS The brief sketch should define the following points:  a description of the product or service  an indication of why it will sell  a description of the intended market  an indication of whether your idea is for the local market only or is applicable to the international market  your estimate of the approximate price  how you think it will be sold, for example, through shops, salespeople, distributors  a first stab at the amount of sales you can make  how it will be made, if it is a product  its approximate cost. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 322

23 SUMMARY 1. An unusual aspect of starting NEW business is that you make the decision yourself that you have the necessary qualities and abilities to make a success of it. 2. Analyse what you expect and hope to achieve from self- employment. 3. Do not underestimate the problems and difficulties which emerge for business 4. Use the checklists, 'Are you sure?' to identify your weaknesses and strengths. 5. Try to take advantage of the many training courses and advice agencies available to help improve those weaknesses 6. Do not be dissuaded from launching a business because you do not have an original idea. With the right management and a promising marketplace, a well-worn idea can be successful. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 323

24 SUMMARY (Cont’ 7. The market can be crucial in determining success or failure (rated second most important factor after management by providers of finance). Carry out detailed market research 'Who will buy?’. 8. Develop brief descriptions of a couple of ideas before researching More thoroughly. Select the favourite and make up a detailed business plan before setting up the business. Your Company & Business Ideas Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 324

25 Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 325

26 MARKET : You may know which market you want to enter; you may have got your eye on a product which you think has potential. Study your prospective marketplace in detail. Researching the marketplace comes before raising money, making profit and cash flow forecasts, finding premises or any of the other steps you have to take to form your business. –Knowing the number of customers –you should be able to obtain information about what your potential customer needs. This, in turn, should aid you to angle your product or service to satisfy the greatest demand. –To persuade people to purchase something they already want; –educating a market to buy your product if the market has expressed no great desire for it can be a long haul. Show with confidence that you understand the structure of your market and have a clear idea of where your product will be positioned compared to the competition. You will obtain financial backing. Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 326

27 MARKET : How Much Why Who RESEARCHRESEARCH Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 327

28 Market research and how you can proceed to find out about your particular market. 1. What it is you need to know about the market. Define the bit (or segment) of the market you are specifically going for, WHO WILL BUY? (Who Will Be Your Costumers?) WHY WILL THEY BUY? HOW MUCH WILL THEY BUY? 2. How to carry out the research. HOW TO DO THE RESEARCH looks at the nitty-gritty of carrying out the market research needed. How is it done? What sources do you use? Are some more important than others? MARKET : Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 328

29 WHO WILL BUY? (Who Will Be Your Costumers?) which are your customers and what are their common characteristics? WHY WILL THEY BUY? helps you form your sales proposition to your target market. What are the main features and benefits which your potential customers are looking for? Can your product supply them? This process helps you to define your service or product specifically, and in relation to the competing products, so that your product is differentiated from the run- of-the-mill. HOW MUCH WILL THEY BUY? leads into how you can utilize the information about market and potential customers to make realistic sales forecasts MARKET : Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 329

30 Basically, you should be looking for a niche in your proposed market (market segmentation) which allows you to charge a reasonable price and so maintain reasonable profit margins. To achieve this, your product needs to be clearly distinguishable from the competition (product differentiation). Once you have sorted out the groups, look at the competitive position, you need to be able to offer customers some additional benefit in your service or product, and it must be a benefit they want. For a small firm, a strong attraction of using this market segment approach to sales is that you may be able to achieve a dominant position in that segment. MARKET : ( Who Will Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 330

31 If your business is on a smaller scale, it still makes sense to look for a niche to exploit, because of the advantages it offers in being able to keep your prices above rock-bottom level. There are several different ways of grouping people. These include looking at potential customers : –by examining facts about their life, such as where they live or the kind of work they do. Or –how they behave when they are deciding to buy a product, such as whether price makes a substantial difference to their buying decision. –Use the step-by-step analysis to help you sort out groups or segments. MARKET : ( Who Will Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 331

32 MARKET GROUPING Identify a group of people with similar tastes in your target market does not necessarily mean that you have unlocked a source of sales for your product. To be useful, a market grouping needs to have certain characteristics. –The segment needs to be big enough to give you the living you require. You must also be able to differentiate it from other groups, so that its size can be measured. –The segment must be easy to reach. There is no point in selecting a target group which is difficult to reach. If it is, you will experience problems getting your message across or supplying the product because of location. –The group must have common features which actually lead to similar buying decisions. MARKET : ( Who Will Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 332

33 MARKET : ( Who Will Buy ) Consumer market Age Sex Marital Status Area Social Class User Life style Price Quality Distribusi MARKET GROUPING Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 333

34 MARKET : ( Who Will Buy ) Professional/Industrial Market Type ScaleDeliveryPriceAfter sale MARKET GROUPING Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 334

35 WHAT DO YOU KNOW ABOUT YOUR LIKELY CUSTOMERS? Knowing a range of information about them to understand your potential customers and sell to them. If it is a business you are selling to, you need to have information on the organization and buying policies. Investigate the other suppliers to your customers and acquire and analyse information on the services and products bought by them. MARKET : ( Who Will Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 335

36 find out what your customer wants. What are the benefits and features of a service or product which your target group rates most highly? (Research) have the framework of your customer needs, your sales package can be altered to achieve the desired objective. These include: * appearance * delivery time * maintenance * performance * quality MARKET : ( Why Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 336

37 By adjusting your service/product in this way to meet the wants and needs of your target market, you are trying to establish that you have at least one unique feature which your competitors don't have. It would be a mistake to believe that buyers act in a rational way, comparing products and choosing their purchase on the basis of some organized assessment. MARKET : ( Why Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 337

38 Estimate of how much you are going to sell and when that is likely to happen. You need this data to formulate your sales and cash forecasts. The level of sales you can make over the years depends on: the market size the market structure the market share you can establish (and the competition you face) the market trends, that is, whether it is growing, static or declining the investment in time and money to sell your product. MARKET : ( How Much Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 338

39 MARKET SIZE This could be either its monetary value or the number of units sold in the market. Beyond this you need an estimate of the market potential., assess the size of the particular segment you are interested in. MARKET STRUCTURE This is the process by which the final product is sold to the end-consumer. know how your particular market works to be able to estimate the value of sales. Any study of market structure can only apply at the time the study is made, because distribution networks are constantly evolving, MARKET : ( How Much Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 339

40 MARKETSHARE To be able to forecast your sales you need some idea of –what share of the market your competitors have –information about your competitors' business and products to enable you to position and price your own offering. –there are some ways of influencing the share you can seize. build a reputation for good, consistent quality. maintaining a reasonable level of marketing activity: PR, advertising and sales activity. if your product is recognized as being ahead of the competition in performance, design or whatever. MARKET : ( How Much Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 340

41 MARKET SHARE Look at your competitors in a detailed fashion. * what are the competitive products and how much do they sell? * how well have they done in the last few years? * how is the company organized? * how is their selling carried out? * if they produce goods, how is it done and what are the facilities? * W ho are the main customers? * what is the pricing policy and what sort of delivery is offered? MARKET : ( How Much Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 341

42 MARKET TRENDS Market size, market structure and market shares do not remain the same. anticipated changes in the economy can affect the buying patterns of individual markets. New information or research may emerge on the effect of certain items (for example, health hazards). look closely at your market to guess what changes will occur which might affect the market trends if the changes caused by government or local authority policy. MARKET : ( How Much Will They Buy ) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 342

43 The basic research methods include: desk research, studying directories and other literature interviews with customers, suppliers, competitors, distributors, ex-employees of competitors test trials. MARKET : ( How To Do A Research) Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 343

44 MARKET : ( How To Do A Research) Problem Formulation Determine Research Design Design Data Collection Method & Forms Design Sample & collect data Analyse & Intrepret data Research Report Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 344

45 WHICH IS THE BEST MARKET? Research some markets in which you believe there are profitable opportunities. The ideal market to base your business in is one which: –is growing or is large –is supplied by businesses which are not efficient or are outdated –has a niche or sector which you can exploit –is not heavily dependent on price to help consumers select one product rather than another –is not already supplied by products which are heavily branded, that is, there is not considerable customer loyalty to products from one or more businesses –is not dominated by two or three very large suppliers, but instead has number of smaller would-be competitors. Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 345

46 Summary 1. Market research which is undirected is not very useful; it needs to concentrate on who will buy, why will they buy and how much will they buy. 2.It is much easier to sell a product which meets some already perceived need rather than to try to educate a market to buy a new, perhaps revolutionary, product or service. 3.Look for groups within your target market which you think you can sell to, either because no one is currently selling to them or because you can adapt your product to meet their needs. 4.Use the step-by-step guide to help you identify a suitable market group. Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 346

47 Summary 5.Rational and emotional factors affect your target group's willingness tobuy. Research these and alter your product or sales approach to match. 6.Knowing how much customers will buy is crucial to your business planning. You need to research market size, market structure, market share, the competition and market trends. 7.Try to carry out your research in a systematic way so that it can be properly analysed. Use desk research, interviews and test trials, if possible. Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 347

48 SIMULATION How Much Why Who What Product Development Dr A. Riza Wahono :“ Pengembangan Bisnis ”Modul 348


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