8/25/2009 1 Marketing and Success factors for Product Innovation Implications for Local Seed Business in Ethiopia Frans Verhees Wageningen University Content Who is Frans Verhees? Some marketing principles Break Success factors for new products and businesses Break Framework for local seed businesses in Ethiopia
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8/25/2009
1
Marketing and Success factors for Product Innovation
Implications for Local Seed Business in Ethiopia
Frans Verhees % Wageningen University
Content
� Who is Frans Verhees?
� Some marketing principles
Break
� Success factors for new products and businesses
Break
� Framework for local seed businesses in Ethiopia
8/25/2009
2
Frans Verhees?
Frans Verhees?
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Frans Verhees?
Market Oriented Product Innovation in Small Firms
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Assistant professor Marketing at WU
Teaching� Course: Introduction to marketing� Course: Advanced marketing� Course: Marketing simulation� MBA: Innovation in Food� Theses
Research� Entrepreneurship� Market Orientation� Small firms, cooperatives, and agriculture
Frans Verhees?
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Marketing principles
Marketing principles
� What is marketing
�Marketing concept
�The marketing environment
�Marketing management
�Customer value and customer segmentation
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The marketing philosophy/ the marketing concept
� The marketing concept holds that the satisfaction of the customer is the key to prosperity, growth and survival of the organisation
Application to local seed business in Ethiopia
� Who is the customer?
� How can you satisfy the customer?� Needs
� Wants
� demand
� What does it mean for LSB to prosper?
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The marketing environment
Application to local seed business in Ethiopia
� What is the marketing mix for LSB?
� What marketing information do LSB have?
� How do they make plans?
� How do they make sure that plans are implemented?
� How do they learn from past previous plans?
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Application to local seed business in Ethiopia
� What are intermediaries for LSB?
� What are suppliers for LSB?
� What are competitors for LSB?
� What are publics for LSB?
Application to local seed business in Ethiopia
� What is the physical environment of the LSB?� What technologies are available for the LSB?� What is the culture of the LSB?� What social developments are relevant?� What political and legal issues influence LSB?� How do demographics influence the LSB?� How does the economy influence the LSB?
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What is marketing management?
� The art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering and communicating superior customer value
Determinants of Customer%Delivered Value
Customer-delivered
value
Total customer
value
Total customer
cost
Product value
Monetarycost
Personalvalue
Energycost
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Application to local seed business in Ethiopia
� How can LSB deliver value to local farmers?
� How can LSB increase product value?
� How can LSB personal value?
� How can LSB decrease costs for the customer?
Strategic Marketing: The Value Delivery Process
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Why target specific markets?
� Lack of resources to service the entire market properly
� Firm: focus on sub%markets with the greatest potential
� Greater sales and profitability
� Customers: greater product differentiation and variety because firms seek further market opportunities by developing new segments
� Firm: better competitive position
Why target specific markets?
� More effective market programmes
� Firm and Customer: design products that are more ‘fine%tuned’ to the needs of the market
� Firm and customer: greater customer satisfaction
� Firm and customer: More efficient use of resources
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The Customer%Development Process
Prospects
Suspects
Disqualified
First-timecustomers
Repeatcustomers Clients Members
PartnersEx-customers
Creating, delivering, and communicating
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Application to local seed business in Ethiopia
� Does the LSB recognize customer segments?
� Do LSB target specific customers segments?
� How do LSB maintain a relationship with their customers?