Saturday, 21 September 2013

Selection of Product or Project for Small Scale Industry:

Project Selection:
  1. Does the idea fire-up your motivation?
  2. Is a viable business proposition in your place?
  3. Does it match the need of your client?
  4. Check it out with basic market research?
  5. Consult with expert
  6. Competition in the field
  7. It is a sunrise industry??
  8. Project conception: 4 P’s of Project Conception
    • Product ( Shape, size, nature)
    • Technology to produce (Process)
    • Place: location of plant
    • Partners: technological and Financial partners/Collaborations

Making a Product Choice:
  1. Product line, depth, width
  2. Packing
  3. Branding
  4. After sales service (Coolers in Bikaner, e.g. Sheetal, Trishul)
  5. Ease of Raw material availability
  6. Process Technology
  7. Access to market
  8. Incentive and support from Government

Export opportunities:
  • Export-product portfolio?
  • Special packing requirement (Wooden packing not allowed in Australia)
  • ISO certificate, WTO rules about child labor

Development of export product portfolio:
  • External demand conditions
  • Internal supply conditions
  • Complexity of market tasks
  • Amount of investment required to penetrate the market

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