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CREATIVITY FOR EXPORT ENHANCEMENT: Dr Rajeev Kumar

CREATIVITY FOR EXPORT ENHANCEMENT: Dr Rajeev Kumar. THE ENTREPRENEURIAL ECOSYSTEM. Government Family Education Finance community . Idea Risk aptitude Skills Finance Space. Jobs Wealth. Entrepreneurs.

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CREATIVITY FOR EXPORT ENHANCEMENT: Dr Rajeev Kumar

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  1. CREATIVITY FOR EXPORT ENHANCEMENT:Dr Rajeev Kumar

  2. THE ENTREPRENEURIAL ECOSYSTEM Government Family Education Finance community Idea Risk aptitude Skills Finance Space Jobs Wealth Entrepreneurs

  3. What Govt. Can Do as a Facilitator: Encourage a conducive business environmentCreate up-to-date information source for start- up entrepreneursCreate a GLOBAL TECHNOLOGY ACQUISITION FUND especially for MSME

  4. FORCES AT WORK IN THE EVER- CHANGING GLOBAL SCENARIO:(1)vanishing captive and protected markets

  5. (2)INCREASING COMPETITION : but OUR MARKETERS need not to fight for a share of a pie when there is scope for expanding the pie itself is enormous eg: banks

  6. (3) MORE DEMANDING CONSUMERS AND CUSTOMERS:MARKETERS are facing better informed and more organized customers who also have a choice.Economy of surpluses

  7. (4) SHRINKING GLOBE :HOMOGENISATION of preferences because of technology and communications a common market with similar preferences is developing across the globe eg : automobiles, watches, pens, cameras, soft drinks, apparels(global products)

  8. (5) INCREASING INDIVIDUALITY: We have been a collective society but selfishness is increasing, breaking social norms and disintegrating families

  9. (6) INCREASING COMMERCIAL ATTITUDE : more and more among us are asking the question, What is in it for me? Personal gains, seem to be dominating the decision criteria

  10. (7) MEDIA EXPLOSION :RURAL households are exposed to media because of television mainly

  11. (8) RAPID TECHNOLOGICAL CHANGE:PC’s become obsolete in months, time for video conferencing, no need for global travel, smart cars, biomedicine, telecommunications, electronics, solar,

  12. STEPS FOR CREATIVITY • It portrays marketing strategy formulation as an interactive PROCESS involving a number of steps( that must be performed in sequence) • understand customer behavior; • segment the market; • Select target segments; • Design the offer to fit target market needs; • differentiate the offer; and • position it in the customer’s mind.

  13. 3 C-V MODEL • VALUE has to be CREATED, COMMUNICATED and CAPTURED. Customer Competitors Company Focus Differentiate Reduce Cost

  14. Marketing strategy formulation in the context of market places/spacesThe 3 Cs and the Market CUSTOMER COMPANY TARGETING Market Place Market Space POSITIONING DIFFERENTIATION COMPETITORS

  15. Market Segmentation Consumer Behavior Offer Goods Services Experience TARGETING POSITIONING DIFFERENTIATION COMPETITORS

  16. Creativity in Products • Benefits • Symbolism • Design • Quality • Variety • Innovation • Convenient packaging • Speed and timing of entering the market • Eg. electric car, wind energy, online grocery

  17. Creativity in Price • Major concern should be for value • The price should determine the costs rather than, costs determining the price eg: Automobiles USA and Japan

  18. Creativity in Promotion • IT will revolutionize promotion in various ways • Role of social media

  19. Creativity in Place(Distribution) • Customers should have better access, more choices at lower costs. • Relationship orientation • Efficient supply chain management-Wal-Mart • Sunglass Hut • Multiple channel approach

  20. Conclusions • Innovation= Creativity+ Commercialization • Combine analytics with creativity • Improvement in technology, brings about innovation • Innovation is a systematic effort which requires precision(not approximation)

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