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Asian Institute of Technology and Education

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Indian literature is generally acknowledged as one of

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the oldest in the world. India has 22 officially recognized

languages, and a huge variety of literature has been
produced in these languages over the years. In Indian
literature, oral and written forms are both important.
ENTREPRENEURSHIP
Hindu literary traditions dominate a large part of Indian
culture.
 ACTIVITY:
Think a product/service you want to introduce to the market by
Tamil poetry
accomplishing of Product/Service
the New the SangamTemplatepoetry which dates back
below.
to 1st century BCE is wellTEMPLATE
NEW PRODUCT/SERVICES renowned. Muslim literary
traditions alsoA. dominate a large part
What is your product/service?  
 
of Indian culture. In
the medieval A.period,
What does yourduring which time
product/service   India was mostly
under Muslim A.rule,
do?
Indian Muslim
How is it different or better than
literature
 
 
flourished,
most notably inotherthe Persian and Urdu poetry. Among
product/services?
contemporaryA. Indian
Who will buyliterature
the product/service?Bengali
 
 
poet
Rabindranath A.Tagore
Why will theybecame
buy the India's  first Nobel laureate.
So far India's highest literary honor,  the Jnanpith
product/service?

awards, has been conferred seven times upon Bengali

A. How will the product/service be  
promoted and sold/offered?
writers, whichA. isWhothe
are myhighest
competitors? for any  language in India.
 
 The earliest works of Indian literature were orally
LESSON 5:
transmitted. Sanskrit literature begins with the Rig Veda a
collection of sacred hymns dating to the period 1500–
PRODUCT: IT’S NATURE AND
1200 BCE. The Sanskrit epics Ramayana and Mahabharata
appeared towards the end of the first millennium BCE.
SUSTAINABILITY
Classical Sanskrit literature flourished in the first few
centuries of the first millennium CE, as did the Tamil
Sangam literature, and the Pāli Canon.
 Entrepreneurs must have a full knowledge as to what products are
needed in the society. The product will be for the satisfaction of the
Apart from the Vedas which are a
sacred formgroup of the targetthere
of knowledge, market.
areIt must be specific, identified from the
other works such as the Hindu epics
Ramayana others, and easily be treatises
and Mahabharata, recognized.
such as Vaastu Shastra in architecture
PRODUCT
and town planning, and Arthashastra
 In nature,
in political science. it can be tangible or intangible that can be offered
Devotional Hindu drama, poetry and
for satisfaction.
songs span the subcontinent. Among
 Itknown
the best may bearean
theidea, a of
works physical entity (good), service, or any
Kalidasacombination
(writer of the of
famed
the Sanskrit
three
play Recognition of Shakuntala) and
 Bundle
Tulsidas of satisfaction
(who wrote an epic Hindi
poem based on the Ramayana, called
Raamcharitmaanas).
Levels of Product
A. Tangible Products
are the basic physical appearance which can be an idea having precise specifications and is offered
Inathe
under medieval
given/specified period,
description literature
or a model number in Kannada and Telugu
appeared
Example: HondainBriothe 9th and 11th centuries respectively.[1] Later,
Model
literature in Marathi, Bengali, various dialects of Hindi, Persian
and
B. Urdu Products
Augmented began to appear as well. Early in the 20th century,
Bengali
It includes thepoet
imageRabindranath
and service features ofTagore became India's first Nobel
a certain entity.
It gives emphasis on the intangible benefits that the customer will be getting from buying the
laureate. In contemporary Indian literature, there are two
product.
major Car
Example: literary awards;
Insurance, medical andthese are the Sahitya Akademi
dental benefits
 Fellowship and the Jnanpith Award. Seven Jnanpith awards
each
C. have
Generic Productbeen awarded in Hindi and Kannada, followed by
five
It in Bengali,
emphasizes the impactfour
of the in Malayalam
product and
to the consumer, notthree inThis
the seller. Gujarati,
will signify the
Marathi
purpose of itsand Urdu.
existence and the primary objective in creating the product
Example: Prestige, status signal, professional image
 Types of Product
 
1.Goods
Can
Theseyeare measure the grief
sale of the physical offrom
products thethetears I weep
manufacturer to the consumer of final
Or
andcompass
ultimate user.the woe of the watch I keep?
Or the
These arepride
tangiblethat thrills
products than thro' my heart's
can measure despair
the satisfaction with result or evidences as
And the hope
manifested throughthat comforts
physical development.the anguish of prayer?
And
  the far sad glorious vision I see
Of the torn Goods
A. Durable red banners of victory?
when
These arethe
saleterror and the
of the physical tumult
products ofused
that are hateovershall
a longcease
period of time. These
And lifeare
products beexpensive
refashioned
because ofontheanvils
quality ofofthe
peace,
materials used
AndB.your love shall
Non-Durable Goods offer memorial thanks
To the
These arecomrades who fought
the physical products on the
that are quickly anddauntless ranks,
easily be consumed or worn out,
And
becomeyou honour
obsolete, the deeds
unfashionable, or noof thepopular.
longer dauntless ones,
Remember
- These productsthe blood of and
are inexpensive mycan martyred sons!
easily be damaged
 2. Services
These are intangible products that satisfaction can be measured in future
At the age of 16, she traveled to England to study
preferences.
first at King's College London and later at Girton College,
Cambridge.
a. Rented-Goods There
servicesshe met famous laureates of her time
suchTheseas Arthur Simonrented
are the consumer and facility
Edmond of the Gausse. It was
sellers in a certain period of
Gausse time. who convinced Sarojini to stick to Indian themes-
India's great mountains,
b. Owned-goods services rivers, temples, social milieu, to
expressThese her poetry.
are the repair andShe depicted
maintenance contemporary
services Indian
rendered by the sellers to the
life and events.
products Her collections "The golden threshold
of the customer.
c. Non-good
(1905)", servicebird of time (1912)", and "The broken
"The
wingIt (1912)"
is a personalattracted
service on thehuge
part ofIndian
the seller;and
Most English
common are the
expertise and profession of the leader
readership.
Characteristics of Services
1.Intangibility
 These are the services that cannot be displayed, transported, stored,
packaged or inspected before buying
2.Credibility
 Provides most of the time counts
3.Inseparability
 It is the service provider and services that cannot be separated. It cannot
accomplish the purpose if one is missing
4.Variability
 It is when the service is difficult to standardize because it various upon the
performance of the provider
1. CONSUMER PRODUCT

• These are goods and services destined/produced for the final

consumer for personal, family, or household use.
• The use of the goods or services designated it as a consumer
product
A. Convenience Products
• These are purchased with the minimum or less effort because the
buyer has knowledge of product characteristics prior to shopping

 Staples
These are low priced items that are routinely purchased on a
regular basis and are products that are used every day
 
 Impulse
Products are the items that the consumer does not plan to buy
B. Shopping Products
• These are products that the consumers acquire through further
knowledge and information in order to make final purchase decision.
Consumers will exert effort in searching or looking for information
because these products have high prices and are bought infrequently
and are categorized as follows:

i. Attribute-based shopping products provides customers with

information and evaluated product features, performance, options,
warranties, and other factors
ii. Price-based shopping products enables customers to judge
product attributes to be the same and look around for the least
expensive item
C. Specialty Products
• These are the items with particular brands and stores to which
consumers are loyal.
• They are willing to make a significant or specific effort to acquire
the brand desired units and will pay a higher or above the price
of similar products.
2. INDUSTRIAL PRODUCTS

• These are goods or services purchased for use/consumption in

the production/manufacturing of other goods or services, in the
operation of a business or for resale to other customers
These are the followings:
 
 Accessory Equipment is selected priced portable goods which last long
period of time, requiring a moderate amount of consumer decision making.
 
 Raw Materials are unprocessed basic materials from extractive and
agricultural industries. Natural environment promotes a good source of raw
materials
 
 Industrial or Operating Supplies are inexpensive convenience goods which
are rapidly consumed and are necessary for the day-to-day operation of the
firm.
 Component Materials are semi-manufactured goods which undergo
further changes in form and later to be a part of the finished
products.
 
 Installations are very expensive materials, non-portable goods which
are used in the production process and do not become part of the
finished product.
 
 Fabricated Parts are finished products of other companies which
form part of the manufacturer's product without further changes in
form, but given added feature to make a new product
NEW PRODUCT DEVELOPMENT PROCESS

The process consists of two sets:

1. Internal - Which looks at the company's objectives and

resources
2. External - Which looks at the customer's needs and
wants
PRODUCT SATISFYING FEATURES
 
 Product patronage in the market is conditioned by the strategies and policies
employed by the manufacturer and the marketing organization on the
product's attribute

1.Design
It matters to the elements that collectively form of good or service that
will satisfy customers and gain competitive advantage
2. Product Colors
It is the customer's rejection or acceptance of the product. This could be
true in clothing, cars, or furniture and other fixtures. Color can be an
important consideration for highly technical products
 3.Product Quality
This is set of features and attributes of a product or services that
determine its ability to satisfy human needs
 
4. Product Warranties
One very important attribute of the product is this. It is the state where
the buyer is assured that the product meets the specifications stated in the
product labels
THANK YOU !!!