Four M’s of Production
- using the media through press
1. Manpower
- workforce, who will help the business
to produce products
A entrepreneur needs to hire a good and
competent people to produce quality
products.
“People can be honest but may not be
capable or competent and some are
capable but not honest”
 Management Team
- it is extremely important to make
appropriate assignment of
responsibility for the implementation of
marketing plan.
- must build effective management
team
 Hiring Human Resource
- important determinant of business
location and functioning
- availability of labor for different skill
level are important to business
An effective hiring procedure includes
the answer to the following questions;
• What are the requirements of the jobs
to be filled?
• What kinds of persons are needed?
• How many persons are needed?
2. Method
- ways in producing the product from
raw
- conventional approach to marketing
by the marketer
 Traditional method
 Machine- assisted and automated
 Advertising
- an investment and creates
opportunities for the product to be
discovered by the market
 Publicity
releases, talk shows which contributes
to the introduction of new product
 Personal Selling
- the entrepreneur is the salesperson for
the new enterprise
- the spokesperson, ambassador and
representative
3. Materials
- anything used as input to production
and manufacturing
- can be raw or an finished product
Raw Materials
- first harvested, extracted and processed
to produce semi- finished materials.
 Suppliers
- suppliers used are generally based on
a number of factors such as price,
delivery time, quality, and
management assistance.
- where raw material are scarce or there
are only a few suppliers of a particular
raw material, the entrepreneur has
little control over the decision.
Raw material procurement and planning
are critical to success of a start-up. The
raw materials required may be:
 Domestically available
(within the country)
- our country is a resource rich
country with abundance of specific
materials in different states.
- appropriate suppliers of raw
materials have to be selected
 Imported from abroad:
- importing the raw materials the Gov
rules and regulations have to be
followed.
- The Director General of Foreign
Trade shall advise Central Government
in formulating export and import policy
and implementing the policy
4. Machine
- next important step is choosing and
ordering of right machinery and
equipment.
- machinery and equipment required
may be either domestically available or
imported
“Running a business is a complex
process and all of these elements
interplay”
Product
- is anything that is offered to the
market to satisfy consumer wants,
needs, and demands.
- can include goods, services, people,
and ideas
Product Description
- marketing copy that explains what a
product is and why its worth purchasing
Tips on developing product
description :
1. Know who are your target audience
As you are writing your product
description, keep these questions in
mind:
 How did this person arrive to your
page?
 What are his or her interests ?
 Why would this person be
interested in your business?
 How would this person describe the
product to a friend?
 What features or benefits would
interest this person the most?
2. Focus on the Product benefits
3. Tell the full story
When it comes to telling a story in your
product description, try to answer these:
 Who originally made this product?
 What inspired them to make this
product?
 What was the journey of making
this product?
 How would this product look in the
buyer’s day-to-day life?
4. Use natural language and tone
5. Use power words that sell
Example:
Amazing, Courage, Bravery, Blissful,
Breathtaking, Delight, Daring
6. Make it easy to scan
7. Use good images
- 63% of customers think that a product
image is more important than the
description or even review
Prototypes
- first versions of the product
Creating Prototypes Steps:
1. Create a concept sketch
- first step toward turning your idea
into reality is getting it down on paper
- u save time drawing in paper instead
in digital drawing
2. Develop a Virtual Prototype
- standard digital design tool used by the
engineers is ..
AutoCAD ( Computer - Aided Design)
which enables them to make both 2D
and 3D
3-D rendering test
- lets u rotate and animate your virtual
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