Centre for Innovation

Entrepreneurship and
Incubation (CIEI)
IE2001E
PRODUCT LIFE CYCLE
TECHNOLOGY PRODUCT LIFE CYCLE
NEW PRODUCT
DEVELOPMENT
 NEW PRODUCT
DEVELOPMENT

The process of
conceptualizing,
designing, developing,
and bringing a new
product to market.

4/11/2025 6
1/23/2025 7
1. Idea Generation

• Involves brainstorming and collecting

innovative ideas from various sources
like:
• Customer feedback
• Market research
• Competitor analysis
• Employee suggestions
• Example: Identifying the need for
budget-friendly, high-performance
earbuds in India.
2. Idea Screening
• Filter and evaluate ideas to
select the most feasible ones.
• Criteria for screening:
• Market demand
• Alignment with brand
values
• Feasibility of production
• Example: Assessing the
feasibility of biodegradable
cutlery in India’s fast-food
3. Concept Development and
Testing

• Create detailed concepts and test

them with target customers, via:
• Conducting focus groups
• Gathering feedback on functionality
and design
Example: Testing the concept of a
clay-based refrigerator in rural markets
for usability and cooling efficiency.
4. Business Analysis
• Assess the financial viability
and market potential of the
product.
• Key components:
• Cost estimation
• Revenue forecasting
• Competitive analysis
• Example: Evaluating market
size and pricing strategy for a
student-centric fitness
 5. Product Development
• Transform the concept into a
physical product or prototype.

• R&D for technical feasibility

• Material sourcing
• Iterative design refinements
• Example: Developing a multi-
flavored ice cream bar with
separate compartments.
 6. Market Testing
• Test the product in a real-world
scenario or with a small group of
target customers.

• Limited product launches

• Collecting user feedback and
reviews
• Monitoring adoption rates
• Example: Launching a solar-
powered mosquito trap in select
rural areas.
7. Commercialization
• Full-scale production, distribution,
and promotion of the product.
• Activities include:
• Manufacturing at scale
• Marketing campaigns
• Establishing distribution channels
• Example: Nationwide launch of
Zomato Pro subscription services
with influencer marketing.
https://www.apple.com/apple-vision-pro/
Discussion Questions:
• Steps in NPD w.r.t to Apple Vision pro
• What challenges did Apple face?
• How did Apple gather customer feedback
during market testing?
1. Idea Generation

• - Apple identified the growing adoption

of VR/AR technologies in gaming,
education, and collaboration.
• - Limitations of existing headsets
(comfort, battery life) inspired the
concept.
• - Leveraged Apple's reputation for sleek
design and seamless device integration.
2. Idea Screening
• Technical Feasibility:
Evaluated hardware/software capabilities for mixed-reality experiences.
• Market Readiness:
• Focused on Gen Z and Millennials as early adopters of immersive technologies.
• Brand Alignment:
Ensured seamless integration with Apple's ecosystem (macOS, iOS, iCloud).
 3. Concept Development
and Testing
Prototype
Features: Included ultra-high-resolution displays,
spatial audio, and ergonomic design.

User Testing:
Feedback from developers and early
adopters improved comfort and software.

Iterative
Improvements: Enhanced hand-tracking and reduced
latency for better AR/VR transitions.
4. Business Analysis
• Market Analysis:
Assessed the $100 billion
VR/AR market potential by 2030.
• Pricing Strategy:
Positioned as a premium
product (~$3,500), targeting
professionals and tech enthusiasts.
• Competitive Benchmarking:
Differentiated from
competitors like Meta Quest Pro with
seamless Apple ecosystem
integration.
5. Product Development

• Technological Innovations:
Engineered micro-OLED
displays for exceptional clarity.
• Material and Design:
Lightweight materials and
adjustable lenses ensured
comfort and compatibility with
prescription glasses.
6. Market Testing
• Developer Kits:
Released kits to app
creators for building AR/VR
applications.
• Live Demonstrations:
Showcased use cases in
gaming, 3D design, and virtual
collaboration.
7. Commercialization

• Launch Strategy:
o Announced at WWDC for maximum
visibility and pre-orders.
• Marketing Campaign:
o Highlighted applications for professionals
and students via influencer partnerships.
• Global Rollout:
o Focused on tech-savvy regions (US, EU,
and parts of Asia).
•Creativity

•Intro to innovation

•Types of innovation

•Innovation vs Invention vs Entrepreneurship

•Importance of innovation

•Debate – Entrepreneurship vs Employment

•Novel = something new or unusual

Typology & Dimensions of Innovation

RADICAL/
DISCONTINOUS
DISRUPTIVE
NOVELTY

INCREMENTAL BREAKTHROUGH

IMPACT
The future has many names.

For the weak it is the

unattainable.

For the fearful it is the

unknown.

For the brave it is the chance

DESIGN THINKING
• Design thinking is a mindset and approach to problem-solving and innovation anchored
around human-centered design

• Design thinking is different from other innovation and ideation processes in that it’s
solution-based and user-centric rather than problem-based

• This means it focuses on the solution to a problem instead of the problem itself
DESIGN THINKING
• The essence of design thinking is human-centric and user-specific

• It’s
about the person behind the problem and solution, and requires asking questions
such as “Who will be using this product?” and “How will this solution impact the user?”
• Design thinking fosters innovation. Companies must innovate to survive and remain
competitive in a rapidly changing environment.
• Design thinking is a non-linear, iterative process that can have anywhere from three to
seven phases
• It combines the best of two worlds: the humanities, where we find empathy and creativity,
and technology, from which it borrows rapid prototyping and testing.

Harvard Business School→

HBS Online→
Business Insights
Aims of Design Thinking
CONCEPT OF DESIGN THINKING
CUSTOMER ORIENTED INNOVATIVE APPROACH

DEVELOP ENTIRE BUSINESS MODEL

FOCUSES ON EARLY CUSTOMER ORIENTATION – THINKING STARTS WITH PEOPLE

PROTOTYPES – ITERATION LOOPS

FAIL FAST TO SUCCEED SOONER

EVALUATION – TESTING – DECISION BETWEEN ALTERNATIVES

 STAGES OF DESIGN THINKING

Clarify: The first stage of the process is Ideate: This stage involves generating
conducting research to empathize ideas to solve the problem identified
with your target audience. during research.
Identify their key pain points and Ideation challenges assumptions and
frame the problem in a way that overcomes biases to produce
allows you to solve it. innovative ideas.
 STAGES OF DESIGN THINKING

Develop: This stage involves Implement: The final stage

exploring solutions generated of the process is
during ideation. It emphasizes implementation. This stage
rapid prototyping to answer involves communicating your
questions about a solution's developed idea to
practicality and effectiveness. stakeholders to encourage
its adoption.
PROBLEM SOLUTION
PHASE PHASE
UNDERSTAND IDEATE
PROCESS
OBSERVE
OF PROTOTYP

DESIGN
E

POINT OF THINKING TEST

VIEW
WHY DESIGN THINKING SKILLS MATTER

• It’s extremely useful when used to tackle complex problems that are ill-defined or
unknown—because it serves to understand the human needs involved, reframe the
problem in human-centric ways, create numerous ideas in brainstorming sessions and
adopt a hands-on approach to prototyping and testing.
• The main value of design thinking is that it offers a defined process for innovation.
• Following the concrete steps of design thinking is an efficient way to develop new,
innovative solutions.
• On top of a clear, defined process that enables strategic innovation, design thinking can
have immensely positive outcomes for your career—in terms of both advancement and
salary.
MEASURING CATEGORY INPUT METRICS OUTPUT METRICS

INNOVATION

% OF SENIOR MNGMT TIME NUMBER OF MANAGERS WHO

LEADERSHIP
SPENT ON INNOVATION BECAME LEADERS

BUSINESS % OF EMPLOYEES WHO NO. OF INNO. THAT MADE

CAPABILITY RECEIVED INNO. TRAINING IMPACT

RETURN ON % OF PROFITS MADE FROM

% OF CAPITAL INVESTED
INVESTMENT INNO.
 STORY TELLING

• SANJEEV BIKHCHANDANI
• Better product is what the customer wants rather than what appeals to your aesthetic
sensibilities
• Customer’s money is a hundred times better than investor funding.
• The core of any business is the value of its proposition and its ability to sell itself to its targeted
market. Does it have what it takes for a customer to loosen his purse strings?
• Look for meaning, not money.
• You should be happy with what you do.
STORY TELLING
• DINESH & BRIJESH AGARWAL
• First mover advantage is mostly a myth!
• Half of the companies that go first fail!
• First followers have a mere 8% failure
rate.
• It takes 20 years to be an overnight
success.
• 6 crore buyers – 5 crore products –
500+cr
STORY TELLING
• ASHISH HEMRAJANI, PARIKSHIT DHAR,
RAJESH BALPANDE

• Startup founders need to get their hands dirty. That

is the only way to build a sound and successful
organization.

• pick up the phones and delivery cartons whenever

needed which demonstrates the strength of the
leadership and the desire to succeed. It sends the
right message to the employees
NOW IT’S YOUR STORY TIME

Fresh Payt
work m

Make
My OYO
Trip

Bharat
ola Matrim
ony

Rediff
Delhivery
.com
Ref/Source:
Ref/Source:
Ref/Source:
Ref/Source:
Ref/Source:
Discuss
 THE SONG “HAPPY WARNER/CHAPPELL FOR DECADES,
BIRTHDAY TO YOU” MUSIC, A SUBSIDIARY ANYONE WISHING TO HERE THE
WAS WRITTEN BY OF WARNER MUSIC PUBLICLY PERFORM SONG/LYRICS/MUSIC
MILDRED AND PATTY GROUP, LATER THE SONG OR USE IT IS THE INTELLECTUAL
HILL IN 1893, AND ITS PURCHASED THE IN COMMERCIAL PROPERTY.
COPYRIGHT WAS RIGHTS TO THE SONG SETTINGS HAD TO ITS PROTECTION IS
ACQUIRED BY THE IN 1988. OBTAIN A LICENSE DONE THROUGH
CLAYTON F. SUMMY FROM COPYRIGHTS.
COMPANY IN 1935. WARNER/CHAPPELL
AND PAY A FEE.
Intellectual Property!

• What is it !
• Types
• Examples
• Do we need to protect, If yes why?
• How to protect?
Intellectual Property Rights (IPRs)
“INTELLECTUAL”
Relating to intellect – ability to think and understand ideas

“PROPERTY”

A thing or things belonging to someone

“RIGHTS”

A moral or legal entitlement to have or do something or prevent others from

doing something
What is Intellectual Property
(IP)?

• Intellectual Property refers to creations of the human mind protected by

law.
• Examples include inventions, artistic works, designs, symbols, and
trade secrets.
• Like physical property, IP rights give ownership of ideas and creations.
Why is Intellectual Property Important?

• Encourages Innovation and Creativity: Inventors benefit from their work.

• Drives Economic Growth: Contributes to industries like tech and
entertainment.
• Prevents Misuse: Stops unauthorized use of creations.
• Fosters Development: Protects traditional knowledge and drives
advancement.
Types of Intellectual Property Rights
(IPRs)

• Patents: Protect inventions that are new, inventive, and industrially applicable.
• Copyrights: Protect creative works like books, music, and software. (Also the related
rights)
• Trademarks: Protect logos, names, and slogans that identify brands.
• Trade Secrets: Protect confidential business information (e.g., formulas).
• Geographical Indications (GIs): Protect products tied to specific locations.
• Industrial Designs: Protect ornamental/aesthetic aspects of a product.
• Traditional Knowledge: Protect indigenous practices and genetic resources.
 PATENTS

TRADE
MARKS
PROTECTIO
COPY RIGHTS
N OF
INDUSTRIAL INNOVATION
DESIGNS
TRADE
INTELLECTUAL
SECRETS
PROPERTY
GEOGRAPHICAL
RIGHTS INDICATION

SEMICONDUCTOR
INTEGRATED
CIRCUITS
LAYOUT
DESIGN

PLANT VARIETIES

BIOLOGICAL
DIVERSITIES
1/23/2025 58
PATENTS

• A patent is an exclusive right granted for an invention, which is a product or a process

that provides, in general, a new way of doing something, or offers a new technical
solution to a problem.
• Patentability of any invention needs to fulfill certain criteria such as Usefulness,
Novelty and Non obviousness.
• It provides protection for the invention to the owner of the patent for a limited period,
i.e. 20 years.
 PATENTS • UTILITY PATENTS : Protect the functionality
of new or improved products, processes, or
machines
• For example, a utility patent for a computer
would cover how it turns on, processes
information, and connects to Wi-Fi
CONTRACT – GOVT. & GOVT. GRANTS WHEN CONTRACT
INVENTOR EXCLUSIVITY TO
INVENTOR IN EXCHANGE
EXPIRES GOVT.
PUBLISHES THE
• 20 YEARS
FOR DISCLOSURE OF
INVENTION
INVENTION IN PUBLIC
DOMAIN.
• PATENT & TRADEMARK OFFICE
(PTO)
• DESIGN PATENTS: Protect the unique visual
design of an item, such as its shape or look
• For example, a design patent could be applied
for the non-functional shape of a computer
mouse
• 14 YEARS
• PROVISIONAL PATENTS: Establish an early
filing date for an invention, which can be
beneficial in the patent process
• PLANT PATENTS:
• UTILITY FOR NEW VARIETY OF
1/23/2025 61
 Filing a Patent in India: Overview

• Protects inventions legally and prevents misuse.

• Governed by The Patents Act, 1970.

2(l) "new invention" means any invention or technology which has not been anticipated by
publication in any document or used in the country or elsewhere in the world before the
date of filing of patent application with complete specification, i.e., the subject matter has
not fallen in public domain or that it does not form part of the state of the art

• Steps ensure inventions meet legal and technical standards.

Which cannot be patented or not called as an
inventions
• Section 3 of The Patents Act, 1970
• An invention which is frivolous (not having any serious purpose or value) or which claims anything
obviously contrary to well established natural laws

• An invention of intended use or commercial exploitation of which could be contrary to public order or
morality or which causes serious prejudice to human, animal (or) plant life (or) health (or) to the
environment

• The mere discovery of a scientific principle or the formulation of an abstract theory or discovery of any
living thing or non-living substance occurring in nature;
• or the mere discovery of any new property or new use for a known substance or of the
mere use of a known process, machine or apparatus unless such known process results in a
new product
• a substance obtained by a mere admixture resulting only in the aggregation of the
properties of the components thereof or a process.
• the mere arrangement or re-arrangement or duplication of known devices each functioning
independently of one another in a known way
• Agriculture or horticulture methods
• any process for the medicinal, surgical, curative, prophylactic diagnostic, therapeutic or
other treatment of human beings or any process for a similar treatment of animals to
render them free of disease or to increase their economic value or that of their products.
• plants and animals in whole or any part thereof other than micro organisms but including
seeds, varieties and species and essentially biological processes for production or
propagation of plants and animals
• a mathematical or business method or a computer programme or algorithms
Cntd..
• a literary, dramatic, musical or artistic work or any other aesthetic creation whatsoever including
cinematographic works and television productions;

• a mere scheme or rule or method of performing mental act or method of playing game;

• a presentation of information;

• Topography of integrated circuits;

• an invention which in effect, is traditional knowledge or which is an aggregation or duplication of known

properties of traditionally known component or components

• Inventions related to atomic energy are not patentable

Who can apply for a patent?
Application for a patent for an invention may be made by any of the following persons:
• Any person claiming to be the true and first inventor of the invention;

• Any person being the assignee of the person claiming to be the true and first inventor in respect of the right
to make such an application;

• The legal representative of any deceased person who immediately before his death was entitled to make
such an application
Filing a Patent in India

1. Check Patentability: Ensure the invention is novel and useful.

2. Conduct a Patent Search: Verify no similar patents exist.
3. Draft the Application: Include detailed descriptions and claims.
4. File the Application: Submit to the Indian Patent Office.
5. Publication: Published in the Patent Journal after 18 months.
6. Examination: Request examination within 48 months.
7. Respond to FER: Address objections in the First Examination Report.
8. Grant of Patent: Valid for 20 years upon approval.
 Step 1: Check Patentability
• Ensure the invention is:
Novel: Not disclosed publicly before filing.
Inventive: Significant improvement over existing
technology.
Industrially Applicable: Usable in an industry.
• Example: Coconut tree-climbing device in Kerala

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 2: Conduct a Patent Search
Verify no similar patents or prior art exist.
Tools:
InPASS (India): https://ipindiaonline.gov.in/
PATENTSCOPE (Global): https://patentscope.wipo.int/
Saves time and confirms uniqueness of the invention.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 3: Draft the Application
Prepare the application with:
Detailed Description: Explain the invention clearly.
Claims: Define the scope of protection.
Abstract: Provide a summary of the invention.
Recommended: Hire a patent attorney for accuracy.
Reference: Indian Patent Guidelines.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 4: File the Application
How to File:
Online via Indian Patent Office e-filing portal.
Regional Offices: Delhi, Mumbai, Chennai, Kolkata.
Types:
Provisional Application: For incomplete inventions.
Complete Application: Full details of the invention.
Reference: IP India Filing Process.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 5: Publication
• • Patent application is published in the Patent Journal after 18 months.
• • Optional: Expedited publication by paying additional fees.
• • Importance: Makes the application public for objections.
• • Reference: Indian Patent Office - Publication Guidelines.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 6: Examination
• File a Request for Examination (RFE) within 48 months.
• Examiner evaluates:
Novelty, Inventive Step, Industrial Applicability.
Compliance with Indian patent laws.
Reference: The Patents Act, 1970.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 7: Respond to FER
• Address objections in the First Examination Report (FER).
• Common objections:
Lack of novelty or inventive step.
Insufficient details in the application.
• Deadline: Respond within 6 months.
• Reference: FER Procedures - IP India.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 8: Grant of Patent
Granted once all objections are resolved.
Valid for 20 years from the filing date.
Maintenance:
Annual renewal fees required to keep the patent in force.
Reference: Patent Maintenance Guidelines - IP India.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 8: Grant of Patent
Granted once all objections are resolved.
Valid for 20 years from the filing date.

Maintenance:
Annual renewal fees required to keep the
patent in force.

Reference: Patent Maintenance Guidelines - IP India.

Patent Grant

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
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 Examples of IPRs in India and
Kerala

1.Patents:
India: Bharat Biotech’s Rotavac vaccine.
Kerala: Coconut tree-climbing device.
2. Copyrights:
India: Amar Chitra Katha comics.
Kerala: Films like Drishyam.
3. Trademarks:
Global: Nike swoosh logo.
Kerala: Kanan Devan Tea.
4. Geographical Indications (GIs):
Kerala: Aranmula Kannadi, Malabar Pepper.
Validity of IPR
Global
1 2 3
Protection
of Patents: Territorial Nature:
Patents are valid only
within the country of
High Costs: Filing in
multiple countries is
expensive.
Complex
Regulations: Rules
differ across

Challenges
filing. countries (e.g.,
software patents).
Solutions for Global
Patent Protection

• Patent Cooperation Treaty (PCT):

Simplifies filing in 150+ countries.
Example: Bharat Biotech used
PCT for Rotavac.
• Filing in Specific Countries:
Directly file in strategic markets
(e.g., Infosys in the USA).
• Regional Patent Systems:
Example: European Patent Office
(EPO) for EU nations.
World Intellectual
Property Organization
(WIPO)

https://welc.wipo.int/ipedu/

Image ref: https://naimun.modelun.org/wipo

 1. Simplifies 2. Promotes Uniform
International Patent Standards: Harmonizes
Filing: Manages the PCT IP laws across
system. countries.
Role of World
Intellectual 3. Protects Traditional 4. Supports Developing
Property Knowledge: Safeguards
indigenous practices
Countries: Provides
capacity-building
Organization (e.g., turmeric, neem). resources.

(WIPO)
5. Encourages Fair Use:
Balances inventor
rights with public
access.
PATENT COOPERATION
TREATY
Key Components of the PCT System
1. Inventions:
The process begins with an invention that needs patent protection.

2. International Applications:
Filed with a national patent office (e.g., Indian Patent Office) or WIPO's International Bureau.

3. Receiving Offices:
Ensure applications meet formal requirements.
Transmit applications to International Authorities and WIPO.
Key Components of the PCT System (Continued)
4. International Authorities**:
Include ISA (International Searching Authority) and IPEA (International Preliminary Examining
Authority).
Responsibilities:
Conduct International Search Reports (ISR).
Prepare Written Opinions on patentability.

• 5. WIPO International Bureau:

Acts as the central hub for the PCT system.
Publishes applications and ISR on PATENTSCOPE.
Timeline/Phases of the PCT
Process
1. Priority Date (0 Months):
Initial patent application establishes the priority date.
This date is critical for subsequent filings.
2. 12 Months:
File an international application under the PCT.
Ensures protection in multiple member states.
3. 16 Months:
The International Searching Authority (ISA) establishes
the International Search Report (ISR) and Written
Opinion.
4. 18 Months:
WIPO publishes the application and ISR on
PATENTSCOPE, making it publicly accessible.
5. 22 Months:
Optional: File a demand for international preliminary
examination (Chapter II procedure).
References:
6. 30 Months: • WIPO - PCT Time Limits: https://www.wipo.int/pct/en/texts/time_limits.html

Deadline for entering the national phase in most • PCT Applicant’s Guide: https://www.wipo.int/pct/en/texts/gdlines.html
member countries. • PATENTSCOPE: https://patentscope.wipo.int/
• WIPO FAQs on ISR: https://www.wipo.int/pct/en/faqs/faqs.html
Applicants decide in which countries to seek protection • PCT Guide on National Phase: https://www.wipo.int/pct/en/texts/gdlines.html
and comply with local requirements. • European Patent Office on PCT: https://www.epo.org/
 Benefits of the PCT System
• 1. Simplifies Filing:
- A single application works for 150+ countries.

• 2. Delays Costs:
- Applicants have up to 30 months to decide on specific countries.

• 3. Centralized Process:
- ISR and Written Opinion provide insights before national filings.

• 4. Encourages Global Protection:

- Facilitates entry into multiple markets with reduced administrative burden.

References:
WIPO Benefits of PCT: https://www.wipo.int/pct/en/
USPTO on PCT Benefits: https://www.uspto.gov/
 Role of WIPO in the PCT System
• 1. Administers the PCT system globally.
• 2. Publishes international applications and ISR on PATENTSCOPE.
• 3. Provides centralized services for applicants, including:
International Searching Authority (ISA).
International Preliminary Examining Authority (IPEA).
• 4. Harmonizes IP laws across member countries.

References:
WIPO Official Site: https://www.wipo.int/
PATENTSCOPE and ISA Details: https://www.wipo.int/patentscope/en/
 1. Darjeeling Tea: GI status protects farmers
from counterfeit products.

2. Nokia: Patents generate billions in

Case Studies royalties globally.

and Examples 3. Films: Copyright enforcement reduces

piracy.

4. Aranmula Kannadi: GI protection for

Kerala’s handmade mirrors.
 Electric Powered cars
Using the self fabricated chassis, drive and power of
an Enfield Bullet motorcycle in front the innovator has
retrofitted an attachment with two wheels at the rear
with a tool bar to fit various farm implements
 One can stream video from the Ray-Bans straight out to
Instagram

The sunglasses are equipped with ultrasonic transmitters,

receivers, and microprocessors. It provides alerts in the
form of vibration. The vibration gets stronger as the user
gets to an obstacle
Discuss
GRASSROOTS INNOVATION
 Problem Statement:
Tractor is not an affordable option for farmers having small
land holdings.
Increase in the cost of fodder for bullock
Regular occurrence of drought and shortage of farm labor
forced the farmers of Saurashtra area of Gujarat to look for
an alternative to Bullock.

Innovation/Product:
Using the self fabricated chassis, drive and power of an
Enfield Bullet motorcycle in front the innovator has
retrofitted an attachment with two wheels at the rear with a
tool bar to fit various farm implements.
Bullet Santi
IPR Status: Patent Granted in India (No: 205097) It can plough one acre (0.4 hectares) of land in less than half
and USA (No: 6854404B2) an hour, using just two litres of diesel.
This device considerably reduces costs for farmers, who
cannot afford to buy tractors.
The bike can be used for travelling once the field work is
over.
It takes about half an hour for this transition. The Santi costs
about Rs 38,000.
 Problem Addressed: Visually impaired individuals face a lot of
challenges in daily life like identifying obstacles while walking or
crossing roads. Helping a blind lady find the direction prompted
him to find a solution to this problem. He developed smart
sunglasses for blind people to help them identify obstacles at the
waist level and above.
Technology: The sunglasses are equipped with ultrasonic
transmitters, receivers, and microprocessors. It provides alerts in
the form of vibration. The vibration gets stronger as the user gets
to an obstacle.
Societal Impact: With intelligent sunglasses complemented
Intelligent with a smart walking stick, visually impaired people can locate
sunglasses for the obstacles more accurately. It will ease the difficulty of finding
blind by Anang
Tadar (Arunachal ways for their day to-day activities.
Pradesh)
Frugality

Necessity

Simplicity

Inclusivity
Grassroots Innovations: An Overview
• Grassroots innovations are creative solutions developed by individuals or communities with
limited resources.
• These innovations address local challenges in sustainable, affordable, and accessible
ways.
• Examples: Natural refrigerators, herbal pesticides, and solar-powered devices.

References:
Source: Honey Bee Network, SRISTI.
Key Characteristics of Grassroots
Innovations
1. Necessity-Driven: Designed to meet unmet or poorly met needs.
2. Frugality: Use of low-cost, locally available materials.
3. Inclusivity: Often created for marginalized or underserved populations.
4. Simplicity and Sustainability: Aligned with eco-friendly principles and traditional
knowledge.

References:
Source: National Innovation Foundation (NIF).
How Grassroots Innovations Differ from
Mainstream Innovations
1. Source: Arise from individuals without formal R&D, unlike institutionalized research.
2. Market Orientation: Solve localized issues versus broader market problems.
3. Resources: Use traditional knowledge and frugal materials.
4. Accessibility: Focused on affordability and usability for everyday people.

References:
Source: SRISTI and Honey Bee Network.
https://gian.org/innovations/
What is GIAN?
• The Grassroots Innovations Augmentation Network (GIAN) was established in 1997.
• India's first grassroots innovation incubator.
• Collaborates with Honey Bee Network, SRISTI, and NIF to support rural innovators.

References:
Source: GIAN Official Website.
Core Functions of GIAN
1. Scouting Innovations: Identifies innovative ideas through programs like Shodh Yatras.
2. Incubation: Testing, refining, and scaling innovations with technical collaborations.
3. Funding Support: Provides financial aid through MVIF and partnerships with banks.
4. IPR Protection: Helps secure patents, trademarks, and copyrights.
5. Marketing Assistance: Connects innovators with markets and showcases products.

References:
Source: GIAN Official Reports.
Notable Grassroots Innovations Supported by
GIAN
1. MittiCool Fridge (Gujarat): A clay fridge that works without electricity.
2. Bullet Santi (Gujarat): A motorcycle plowing and sowing machine.
3. Solar Mosquito Trap (Kerala): Eco-friendly pest control device.
4. Pokkali Rice Farming (Kerala): Revival of saltwater-resistant rice varieties.
5. Natural Water Cooler (Gujarat): Energy-free cooling using clay.

References:
Sources: GIAN Reports, Honey Bee Network.
Recent Programs by GIAN
1. Micro Venture Innovation Fund (MVIF): Bridges the gap between prototype development
and commercialization.
2. Vernacular Innovation Program: Supports innovators communicating in regional
languages.
3. Women-Led Innovations: Focuses on innovations by women in agriculture and crafts.
4. Youth Engagement: Promotes grassroots innovations among young minds through
schools and colleges.

References:
Source: GIAN Annual Reports.
Impact of GIAN
• Economic Growth: Empowers rural innovators, creating jobs and boosting local economies.
• Social Equity: Ensures marginalized groups have a platform for their ideas.
• Sustainability: Promotes eco-friendly innovations and sustainable practices.
• Policy Influence: Inspired similar grassroots innovation incubation models globally.

References:
Source: National Innovation Foundation.
GRASSROOTS
INNOVATION
•Hand-Operated Water Lifting Device:
helps farmers irrigate their fields without relying on electricity.

•Groundnut Digger:
assists farmers in efficiently harvesting groundnuts,
reducing labor and time.

•Paddy Thresher:
helps in separating rice grains from the stalks

•Tree Climber:
help individuals climb trees safely and efficiently
 CHALLENGES IN
COMMERCIALISATION OF
MINDSET
TECHNOLOGY INNOVATIONS
DISCONNECT

SKILL

FUNDING

INFRASTRUCTURE

TIMELINE

MARKET ACCESS
Apple AirPower
 Apple AirPower
Launch Date: Announced in September 2017 (never officially
launched)
Discontinued Date: Canceled in March 2019
Type: Wireless charging pad
Services: Simultaneous wireless charging for multiple devices
(iPhone, Apple Watch, AirPods)

Reasons for Failure:

- Skill: Technical issues like overheating due to overlapping
charging coils.
- Timeline: Delayed launch, allowing competitors to capture
the market.
- Infrastructure: High production costs made the product
unfeasible for mass manufacturing.
References:
https://www.theverge.com
https://www.macrumors.com
https://www.engadget.com
Quibi
Quibi
• Launch Date: Launched in April 2020
• Discontinued Date: Shutdown in October 2020
• Type: Short-form video streaming platform
• Services: High-quality, quick-bite videos
optimized for mobile viewing.

• Reasons for Failure:

• - Disconnect: Failed to attract younger
audiences who preferred free platforms like
TikTok.
• - Market Access: Couldn’t compete with
established streaming services during the
pandemic.
• - Funding: Excessive spending on marketing
and content without user adoption.

References:

• https://www.nytimes.com

• https://www.cnbc.com
Nike Fuelband
Nike FuelBand
Launch Date: Launched in January 2012
Discontinued Date: Discontinued in April 2014
Type: Fitness tracker
Services: Activity tracking, calorie counting, and
goal setting for fitness enthusiasts.

Reasons for Failure:

- Disconnect: Overtaken by competitors like
Fitbit and smartwatches with better features.
- Skill: Inaccurate tracking data and lack of
integration with smartphones.
- Market Access: Failed to appeal to a broad
audience due to limited functionality.
References:
https://www.wired.com
https://www.bbc.com
https://www.businessinsider.com
Google Allo
Google Allo
Launch Date: Launched in September 2016
Discontinued Date: Discontinued in March 2019
Type: Messaging app
Services: Smart messaging with AI-powered
features like Google Assistant integration.

Reasons for Failure:

- Disconnect: Lacked features like SMS integration
and encryption offered by competitors.
- Market Access: Failed to differentiate itself from
WhatsApp, Messenger, and others.
- Mindset: Google’s frequent product changes
eroded user trust.
References:
https://www.theverge.com
https://www.androidpolice.com
https://www.cnbc.com
Microsoft Mixer
 Microsoft Mixer

Launch Date: Launched in January 2016

Discontinued Date: Shutdown in July 2020
Type: Game streaming platform
Services: Live streaming for gamers with interactive features and exclusive contracts with streamers.

Reasons for Failure:

- Market Access: Failed to attract a large audience, overshadowed by Twitch.
- Funding: High costs of streamer contracts without sufficient ROI.
- Disconnect: Lacked innovative features to differentiate from competitors.
References:
https://www.bbc.com
https://www.theverge.com
https://www.gamesindustry.biz
Google Play Music
Launch Date: Launched in November 2011
Discontinued Date: Shutdown in December 2020
Type: Music streaming platform
Services: Music streaming, storage for personal music libraries, and playlist creation.

Reasons for Failure:

- Disconnect: Failed to compete with Spotify and Apple Music in terms of user
experience.
- Market Access: Confused users with the transition to YouTube Music.
- Mindset: Lack of focus and frequent changes in Google’s music strategy.
References:
https://www.nytimes.com
https://www.engadget.com
https://www.cnbc.com
 Challenges in
Commercialisation of
Technology
Innovations
Detailed Investor Challenges Across Different Aspects
Self-Watering Plant Pot
• Mindset: The product is too niche. Why would people buy a self-watering plant pot when
they can easily water plants themselves?
• Disconnect: This innovation doesn’t address a large-scale need. How do you scale this
product to appeal to a broader audience?
• Skill: Do you have the technical and design expertise to create a durable and functional
pot that performs consistently?
• Funding: How much will it cost to develop molds and prototypes for the pots? Will this cost
be recoverable given the product’s price point?
• Infrastructure: Do you have access to eco-friendly materials and manufacturing partners
capable of mass production?
• Timeline: How long will it take to finalize the design, manufacture, and launch the product?
• Market Access: How will you convince garden centers or e-commerce platforms to stock
your product?
Foldable Solar Charger
• Mindset: The market is saturated with solar chargers. What makes yours unique?
• Disconnect: This product seems designed for hikers and campers. How will you
expand beyond this small market?
• Skill: Do you have the engineering expertise to create efficient, lightweight, and
durable solar panels?
• Funding: Developing solar technology can be expensive. How will you manage
costs without compromising quality?
• Infrastructure: Do you have access to reliable solar panel manufacturers and
material suppliers?
• Timeline: Solar technology evolves quickly. Will your product still be relevant by
the time it launches?
• Market Access: How will you distribute the product globally, given the logistical
challenges of shipping fragile solar panels?
Smart Water Bottle with Temperature Control
• Mindset: Why would someone pay extra for this when thermos bottles are already
widely available?
• Disconnect: The target market seems limited to premium buyers. How do you plan
to reach price-sensitive consumers?
• Skill: Do you have expertise in integrating temperature control technology with
durable and food-safe materials?
• Funding: Developing rechargeable heating/cooling technology will require
significant investment. How will you secure it?
• Infrastructure: Will the components (e.g., sensors, batteries) be locally sourced or
imported?
• Timeline: How will you handle delays in product testing and regulatory approvals?
• Market Access: How will you position this product in retail stores or online
marketplaces already flooded with water bottles?
Noise-Cancelling Baby Stroller
• Mindset: Parents might see this as an unnecessary luxury. How will you educate
them about its value?
• Disconnect: This product caters to urban parents. How will you expand to other
demographics?
• Skill: Do you have expertise in integrating noise-cancelling technology into
lightweight and foldable strollers?
• Funding: How will you cover the cost of R&D and testing for safety certifications?
• Infrastructure: Do you have partnerships with stroller manufacturers to produce
this innovation?
• Timeline: How long will it take to get noise-cancelling technology certified for baby
use?
• Market Access: How will you differentiate your product in the crowded baby
products market?
Portable Air Purifier Necklace
• Mindset: Will people trust this product to work effectively in polluted
environments?
• Disconnect: This seems like a gadget for wealthy urban buyers. How will you make
it accessible to those who need it most?
• Skill: Do you have the technical expertise to ensure the purifier works reliably in
high-pollution zones?
• Funding: Developing efficient filtration technology can be expensive. How will you
manage costs?
• Infrastructure: Do you have access to materials like advanced filters and
rechargeable batteries?
• Timeline: How will you handle testing and certifications needed for air filtration
technology?
• Market Access: How will you convince consumers that this necklace is better than
Edible Coffee Cups
• Description: Coffee cups made entirely from a biscuit-like material that can hold hot beverages and can be eaten
afterward.

• Why It's Innovative: Reduces single-use plastic and paper waste while offering an extra snack for coffee lovers.

• Challenges:
• - Mindset: Will people adapt to eating their coffee cups? Concerns about consumer willingness to try something
unconventional.
• - Disconnect: How will this appeal to tea drinkers or those who prefer reusable cups?
• - Skill: Do you have the expertise to create a cup that holds liquid for long durations without crumbling?
• - Funding: How much investment will go into R&D for taste, durability, and food safety?
• - Infrastructure: Do you have the right facilities to mass-produce these edible cups sustainably?
• - Market Access: How will you convince coffee shops and cafes to adopt this as an alternative to traditional cups?

• References:

• https://www.sustainability.com

• https://www.ediblecupresearch.org
Personalized Candy Messages
• Description: Small hard candies that have custom messages, emojis, or names printed on them.

• Why It's Innovative: Fun and engaging, making candies more personal and memorable.

• Challenges:
• - Mindset: Will this be seen as a novelty product only for special occasions?
• - Disconnect: How do you appeal to daily candy buyers who prioritize price over personalization?
• - Skill: Do you have the technical expertise to print detailed designs on tiny candies?
• - Funding: Developing precise printing and food-safe inks might require significant investment.
• - Infrastructure: Do you have access to food-grade printing technology and scalable manufacturing facilities?
• - Market Access: How will you reach students and young consumers outside of special events?

• References:

• https://www.foodtech.com

• https://www.candycustomization.org
Color-Changing Instant Noodles
• Description: Noodles that change color as they cook, providing a visual indicator that they are ready to eat.

• Why It's Innovative: Adds a fun and functional element to a staple student meal while appealing to young audiences.

• Challenges:
• - Mindset: Will parents trust this product, or will they worry about artificial ingredients?
• - Disconnect: How will you appeal to health-conscious consumers who prefer whole foods?
• - Skill: Do you have the expertise to create natural, food-safe dyes for the color change?
• - Funding: Will R&D for food-safe, cost-effective dyes increase manufacturing costs?
• - Infrastructure: Do you have partnerships with noodle manufacturers to scale production?
• - Market Access: How will you position this product in a crowded instant noodle market dominated by big brands?

• References:
• https://www.innovativefood.org
• https://www.noodletech.com
Glow-in-the-Dark Snack Packaging
• Description: Snack packets that glow in the dark, designed for students studying late at night or during camping trips.

• Why It's Innovative: Combines functionality with fun, helping snacks stand out in low-light environments.

• Challenges:
• - Mindset: Will people see this as an unnecessary gimmick?
• - Disconnect: How will this appeal beyond niche users like students or campers?
• - Skill: Do you have the expertise to create glow-in-the-dark materials that are non-toxic and food-safe?
• - Funding: Developing unique packaging could significantly raise costs. How will you manage affordability?
• - Infrastructure: Do you have access to sustainable packaging suppliers who can create this at scale?
• - Market Access: How will you differentiate your product on shelves already filled with eye-catching designs?

• References:
• https://www.packagingdesigns.com
• https://www.glowpackaging.org
Multi-Flavored Ice Cream Bars
• Description: Ice cream bars divided into sections, each with a different flavor (e.g., chocolate, mango, strawberry, and vanilla).

• Why It's Innovative: Appeals to indecisive eaters and those who enjoy variety in one serving.

• Challenges:
• - Mindset: Will this be seen as a novelty rather than an everyday choice?
• - Disconnect: How will you target consumers who prefer single flavors?
• - Skill: Do you have expertise in creating seamless transitions between flavors without mixing them?
• - Funding: Developing molds and ensuring flavor consistency will require investment.
• - Infrastructure: Do you have access to ice cream manufacturers capable of producing multi-flavored bars at scale?
• - Market Access: How will you convince retailers to allocate freezer space for a new type of product?

• References:
• https://www.icecreaminnovations.com
• https://www.multiflavoredbars.org
Characteristics
of an
Entrepreneur
Lean Startup BUILD – MEASURE - LEARN

You build a minimum viable product

(mvp), an iterative prototype of the
would-be functional solution, and
make it available for real customers to
get their feedback. If it’s negative, you
have not failed. You can pivot and
correct the course of your idea or
change the business model.
 LEAN STARTUP
METHODOLOGY
• The lean startup
methodology is a method of
managing and building a
business or startup by
experimenting, testing, and
iterating while developing
products based on findings
from your tests and
feedback.
 Customer Problem: Solution: Outlining
Segments: Addressing specific how your product
Identifying the pain points for your or service resolves
target audience for target customers. the identified
your product or problem.
service.
Unfair Advantage: Channels:
Value Propositions: Establishing what Determining how
Highlighting unique makes your you will reach your
benefits compared business target customers
to competitors. sustainable and and deliver your
defensible. value proposition.
Revenue Streams: Cost Structure:
Defining how you Identifying key Key Metrics:
will generate expenses Establishing how
income from your associated with you will measure
customers. running your the success of your
business. business.
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
https://www.bdc.ca/en/articles-
tools/entrepreneur-
toolkit/business-
assessments/entrepreneurial-
potential-self-assessment
 BUSINESS PLAN
DESCRIPTIO
EXECUTIV
TITLE INDUSTRY N SERVICE OPERATION
E
PAGE ANALYSIS OF LINE PLAN
SUMMARY
VENTURE

ORGANISATIO ASSESSMEN
MARKETING FINANCIAL
N T APPENDIX
PLAN PLAN
PLAN OF RISK
 TITLE PAGE
•NAME & ADDRESS OF BUSINESS
•NAME OF OWNERS
•DESCRIPTION OF BUSINESS
 EXECUTIVE SUMMARY (3-4
PAGES)

BUSINESS UNIQUE PROFILE OF REVENUE

CONCEPT SELLING OWNERS STREAMS AND
PROPOSITION ROI
 PRESENT OUTLOOK AND TRENDS

INDUSTR ANALYSIS OF COMPETITORS

Y
ANALYSI MARKET SEGMENTATION
S
INDUSTRY AND MARKET
FORECASTS
DESCRIPTION OF VENTURE

PRODUCTS / SERVICES SIZE OF BUSINESS

OFFICE EQUIPMENT PERSONNEL

 PRODUCTION PLAN

MANUFACTURING PROCESS

PHYSICAL PLANT

MACHINERY AND EQUIPMENT

NAMES OF RAW MATERIAL SUPPLIERS

 OPERATIONAL PLAN

DESCRIPTION OF FLOW OF TECHNOLOGY

COMPANY’S ORDERS UTILIZATION
OPERATION
 MARKETING PLAN

PRICING

DISTRIBUTION

PROMOTION

PRODUCT FORECASTS
 ORGANISATIONAL PLAN
• FORM OF OWNERSHIP

• IDENTIFICATION OF PARTNERS/SHAREHOLDERS

• AUTHORITY OF PRINCIPALS

• MANAGEMENT TEAM

• ROLES AND RESPONSIBILITY OF MEMBERS

 EVALUATE WEAKNESS
OF BUSINESS

ASSESSMENT NEW TECHNOLOGIES

OF RISK

CONTINGENCY PLANS
 PRO
SOURCES
FORMA
AND
APPLICATIONS INCOME
OF FUNDS STATEMEN
T
FINANCIA
L PLAN BREAK- CASH FLOW
EVEN PROJECTION
ANALYSIS S

PRO
FORMA
BALANCE
SHEET
 LETTERS

MARKET RESEARCH DATA

APPENDIX
LEASES OR CONTRACTS

PRICE LISTS FROM SUPPLIERS

SOCIAL ENTREPRENEURSHIP – CASE 1

Growth Strategy_: _Value Proposition_:

Expanding Handmade,

Coastal Delights
distribution to urban preservative-free
markets and online pickles made with
platforms while traditional recipes
maintaining the and local ingredients
authenticity of the from the coastal
product. region.

Tamil Nadu - Pickles

_Market Segments_: _Revenue Model_:
Health-conscious Revenue from local
consumers, urban sales, online
dwellers seeking platforms, and
authentic regional potential partnerships
products, and the with gourmet food
Indian diaspora. retailers.
SOCIAL ENTREPRENEURSHIP – CASE 2

Growth Strategy_:
Expanding its presence _Value Proposition_:
in national and global High-quality, eco-
markets while
maintaining the quality
of its handmade
products and ensuring
friendly textiles that
preserve traditional
Assamese weaving
techniques and
Green Loom
fair wages for the empower local women
artisans.

_Revenue Model_:
ASSAM – Handloom textiles
_Market Segments_: Revenue from product
Eco-conscious sales, collaborations
consumers, ethically with fashion designers,
minded fashion buyers, and government grants
and customers who aimed at promoting
appreciate artisanal traditional crafts and
products. women’s
empowerment.
SCHEMES SUPPORTING TECH ENTREPRENEURSHIP

https://dpiit.gov.in/

https://dst.gov.in/

https://aim.gov.in/

https://www.nif.org.in/

https://www.nstedb.com/
SCHEMES SUPPORTING TECH ENTREPRENEURSHIP

https://www.techno-preneur.net/

https://www.indiascienceandtechnology.gov.in/listingpage/tbis

https://www.indiascienceandtechnology.gov.in/programme-
schemes/human-resource-and-development/science-technology-
entrepreneurship-park-step

https://nitc.ac.in/multidiscilplinary-centres/centre-for-innovation-
entrepreneurship-amp-incubation
MARKETING MANAGEMENT

PRODUCT
(LEARN THE CONCEPT WITH
SUITABLE REAL-WORLD
EXAMPLES)

MARKETING
PROMOTION MIX
PRICE

POSITION
OPERATIONS MANAGEMENT

FEATURES:

PROCESS
PLANNING & RESOURCE QUALITY
DESIGN &
FORECASTING MANAGEMENT ASSURANCE
OPTIMISATION
OPERATIONS MANAGEMENT

BENEFITS:

BETTER
IMPROVED REDUCED FLEXIBILITY &
CUSTOMER
EFFICIENCY COSTS ADAPTABILITY
SATISFACTION
PERSONNEL MANAGEMENT
MAN POWER HIRING & TRAINING &
PLANNING RECRUITMENT DEVELOPMENT

PERFORMANCE MOTIVATION
WORKPLACE
MANAGEMENT &
CULTURE
RETENTION

ADAPTING
CONFLICT LEGAL & ETHICAL
TO
RESOLUTION CONSIDERATION
GROWTH
 FINANCIAL MANAGEMENT
BUDGETING & PROFIT RE- INVESTMENT
FORECASTING INVESTMENT DECISION

FINANCIAL
CASH FLOW TAX PLANNING &
REPORTING &
MANAGEMENT COMPLIANCE
ANALYSIS

RISK
CAPITAL EXIT STRATEGIES &
MANAGEMENT &
STRUCTURE & FINANCIAL
FINANCIAL
FUNDING MANAGEMENT
CONTROLS

FINANCIAL MANAGING
PLANNING & REVENUE &
STRATEGY PROFITABILITY
 INDUSTRIAL SICKNESS

LACK OF LACK OF PATENT-LEGAL

INVESTMENT MODERNISATION ISSUES

ENVIRONMENTAL NATURAL
ISSUES DISASTERS
 INDUSTRIAL SICKNESS

LACK OF LACK OF
LABOUR ISSUES
DEMAND DIVERSIFICATION

OUTDATED HIGH
TECHNOLOGY COMPETITION
 INDUSTRIAL SICKNESS

UNAVAILABILITY POOR
UNSKILLED
OF RAW FINANCIAL
LABOURS
MATERIALS MANAGEMENT

SUPPLY CHAIN
GLOBALISATION
ISSUES
 Are you
ready for
the journey?

THANKYOU
CHARACTERISTICS OF AN ENTREPRENEUR
Startup Story: Airbnb
• In 2007, Brian Chesky & Joe Gebbia couldn't afford rent in San
Francisco.
• A design conference in town meant hotels were fully booked.
• They offered air mattresses in their apartment with breakfast.
Startup Story: Airbnb
• In 2007, Brian Chesky & Joe Gebbia couldn't afford rent in San
Francisco.
• A design conference in town meant hotels were fully booked.
• They offered air mattresses in their apartment with breakfast.
• The idea took off, and they named it ‘Air Bed & Breakfast’.
Startup Story: Airbnb
• Investors rejected them multiple times.
• They had no money to grow the business.
• To survive, they sold custom cereal boxes (Obama O’s and Cap’n
McCain’s).
• Raised $30,000 to keep Airbnb alive.
Startup Story: Airbnb
• They refined their platform based on customer feedback.
• Targeted major events where accommodation was scarce.
• Slowly gained traction and expanded globally.
• By 2011, Airbnb had disrupted the hospitality industry.
Startup Story: Airbnb
• Innovation – Turning a simple idea into a new business model.
• Risk-taking – Quitting jobs and pursuing an uncertain venture.
• Adaptability – Finding creative solutions to financial struggles.
• Perseverance – Facing rejections but continuing to refine their idea.
• Customer Focus – Listening to users and improving their platform.
CHARACTERISTICS OF AN ENTREPRENEUR
CHARACTERISTICS OF AN ENTREPRENEUR
• Curiosity – Entrepreneurs have an innate desire to explore new ideas,
industries, and opportunities. This curiosity leads to innovation and
growth.
• Willingness to Experiment – Testing new approaches, products, and
business models is essential. Entrepreneurs must be open to trial and
error.
• Adaptability – The ability to adjust to changing market trends,
customer demands, and unexpected challenges is crucial for
sustainability.
• Decisiveness – Entrepreneurs must make quick and informed
decisions, as delays can lead to missed opportunities.
CHARACTERISTICS OF AN ENTREPRENEUR
• Self-Awareness – Knowing one's strengths and weaknesses helps in
leveraging skills effectively and seeking help when needed.
• Risk Tolerance – Taking calculated risks is a fundamental part of
entrepreneurship. Successful entrepreneurs assess risks and act boldly.
• Comfort with Failure – Failure is a stepping stone to success.
Entrepreneurs must learn from mistakes and keep moving forward.
• Persistence – Overcoming setbacks and staying committed to long-term
goals is key to building a successful business.
• Innovative Thinking – Creativity and problem-solving are essential to
developing unique products, services, or business models.
• Long-Term Focus – Successful entrepreneurs set long-term goals and work
strategically toward them, rather than focusing solely on short-term gains.
Centre for Innovation
Entrepreneurship and
Incubation (CIEI)
IE2001E
PRODUCT LIFE CYCLE
TECHNOLOGY PRODUCT LIFE CYCLE
NEW PRODUCT
DEVELOPMENT
 NPD
• The process of
conceptualizing,
designing, developing,
and bringing a new
product to market.
1/23/2025 7
1. Idea Generation
• - Involves brainstorming and collecting innovative ideas from various
sources.
• - Sources include:
• • Customer feedback
• • Market research
• • Competitor analysis
• • Employee suggestions
• - Example: Identifying the need for budget-friendly, high-
performance earbuds in India.
2. Idea Screening
• - Filter and evaluate ideas to select the most feasible ones.
• - Criteria for screening:
• • Market demand
• • Alignment with brand values
• • Feasibility of production
• - Example: Assessing the feasibility of biodegradable cutlery in India’s
fast-food industry.
3. Concept Development and Testing
• - Create detailed concepts and test them with target customers.
• - Activities include:
• • Developing prototypes
• • Conducting focus groups
• • Gathering feedback on functionality and design
• - Example: Testing a clay-based refrigerator in rural markets for
usability and cooling efficiency.
4. Business Analysis
• - Assess the financial viability and market potential of the product.
• - Key components:
• • Cost estimation
• • Revenue forecasting
• • Competitive analysis
• - Example: Evaluating market size and pricing strategy for a student-
centric fitness tracker.
5. Product Development
• - Transform the concept into a physical product or prototype.
• - Activities include:
• • R&D for technical feasibility
• • Material sourcing
• • Iterative design refinements
• - Example: Developing a multi-flavored ice cream bar with separate
compartments.
6. Market Testing
• - Test the product in a real-world scenario or with a small group of
target customers.
• - Methods include:
• • Limited product launches
• • Collecting user feedback and reviews
• • Monitoring adoption rates
• - Example: Launching a solar-powered mosquito trap in select rural
areas.
7. Commercialization
• - Full-scale production, distribution, and promotion of the product.
• - Activities include:
• • Manufacturing at scale
• • Marketing campaigns
• • Establishing distribution channels
• - Example: Nationwide launch of Zomato Pro subscription services
with influencer marketing.
https://www.apple.com/apple-vision-pro/
Discussion Questions:
• Steps in NPD w.r.t to Apple Vision pro
• What challenges did Apple face?
• How did Apple gather customer feedback
during market testing?
1. Idea Generation
• - Apple identified the growing adoption of VR/AR technologies in
gaming, education, and collaboration.
• - Limitations of existing headsets (comfort, battery life) inspired the
concept.
• - Leveraged Apple's reputation for sleek design and seamless device
integration.
2. Idea Screening
• - **Technical Feasibility**:
• Evaluated hardware/software capabilities for mixed-reality
experiences.
• - **Market Readiness**:
• Focused on Gen Z and Millennials as early adopters of immersive
technologies.
• - **Brand Alignment**:
• Ensured seamless integration with Apple's ecosystem (macOS, iOS,
iCloud).
3. Concept Development and Testing
• - **Prototype Features**:
• Included ultra-high-resolution displays, spatial audio, and ergonomic
design.
• - **User Testing**:
• Feedback from developers and early adopters improved comfort
and software.
• - **Iterative Improvements**:
• Enhanced hand-tracking and reduced latency for better AR/VR
transitions.
4. Business Analysis
• - **Market Analysis**:
• Assessed the $100 billion VR/AR market potential by 2030.
• - **Pricing Strategy**:
• Positioned as a premium product (~$3,500), targeting professionals
and tech enthusiasts.
• - **Competitive Benchmarking**:
• Differentiated from competitors like Meta Quest Pro with seamless
Apple ecosystem integration.
5. Product Development
• - **Technological Innovations**:
• Engineered micro-OLED displays for exceptional clarity.
• - **Material and Design**:
• Lightweight materials and adjustable lenses ensured comfort and
compatibility with prescription glasses.
6. Market Testing
• - **Developer Kits**:
• Released kits to app creators for building AR/VR applications.
• - **Live Demonstrations**:
• Showcased use cases in gaming, 3D design, and virtual collaboration.
7. Commercialization
• - **Launch Strategy**:
• Announced at WWDC for maximum visibility and pre-orders.
• - **Marketing Campaign**:
• Highlighted applications for professionals and students via
influencer partnerships.
• - **Global Rollout**:
• Focused on tech-savvy regions (US, EU, and parts of Asia).
•Creativity

•Intro to innovation

•Types of innovation

•Innovation vs Invention vs Entrepreneurship

•Importance of innovation

•Debate – Entrepreneurship vs Employment

•Novel = something new or unusual

Typology & Dimensions of Innovation

RADICAL/
DISCONTINOUS
DISRUPTIVE
NOVELTY

INCREMENTAL BREAKTHROUGH

IMPACT
The future has many names.

For the weak it is the unattainable.

For the fearful it is the unknown.

For the brave it is the chance

DESIGN THINKING
• Design thinking is a mindset and approach to problem-solving and
innovation anchored around human-centered design

• Design thinking is different from other innovation and ideation

processes in that it’s solution-based and user-centric rather than
problem-based

• This means it focuses on the solution to a problem instead of the

problem itself
DESIGN THINKING
• The essence of design thinking is human-centric and user-specific

• It’s about the person behind the problem and solution, and requires
asking questions such as “Who will be using this product?” and “How
will this solution impact the user?”
• Design thinking fosters innovation. Companies must innovate to
survive and remain competitive in a rapidly changing environment.
• Design thinking is a non-linear, iterative process that can have
anywhere from three to seven phases
• It combines the best of two worlds: the humanities, where we find
empathy and creativity, and technology, from which it borrows rapid
prototyping and testing.
Harvard Business School→
HBS Online→
Business Insights
Aims of Design Thinking
CONCEPT OF DESIGN THINKING
CUSTOMER ORIENTED INNOVATIVE APPROACH

DEVELOP ENTIRE BUSINESS MODEL

FOCUSES ON EARLY CUSTOMER ORIENTATION – THINKING STARTS WITH PEOPLE

PROTOTYPES – ITERATION LOOPS

FAIL FAST TO SUCCEED SOONER

EVALUATION – TESTING – DECISION BETWEEN ALTERNATIVES

 STAGES OF DESIGN THINKING

Clarify: The first stage of the process is Ideate: This stage involves generating
conducting research to empathize ideas to solve the problem identified
with your target audience. during research.
Identify their key pain points and Ideation challenges assumptions and
frame the problem in a way that overcomes biases to produce
allows you to solve it. innovative ideas.
 STAGES OF DESIGN THINKING

Develop: This stage involves Implement: The final stage

exploring solutions generated of the process is
during ideation. It emphasizes implementation. This stage
rapid prototyping to answer involves communicating your
questions about a solution's developed idea to
practicality and effectiveness. stakeholders to encourage
its adoption.
PROBLEM SOLUTION
PHASE PHASE
UNDERSTAND IDEATE
PROCESS
OBSERVE
OF PROTOTYP

DESIGN
E

POINT OF THINKING TEST

VIEW
WHY DESIGN THINKING SKILLS MATTER

• It’s extremely useful when used to tackle complex problems that are ill-
defined or unknown—because it serves to understand the human needs
involved, reframe the problem in human-centric ways, create numerous
ideas in brainstorming sessions and adopt a hands-on approach to
prototyping and testing.
• The main value of design thinking is that it offers a defined process for
innovation.
• Following the concrete steps of design thinking is an efficient way to
develop new, innovative solutions.
• On top of a clear, defined process that enables strategic innovation, design
thinking can have immensely positive outcomes for your career—in terms
of both advancement and salary.
MEASURING CATEGORY INPUT METRICS OUTPUT METRICS

INNOVATION

% OF SENIOR MNGMT NUMBER OF MANAGERS

LEADERSHIP TIME SPENT ON WHO BECAME
INNOVATION LEADERS

BUSINESS % OF EMPLOYEES WHO NO. OF INNO. THAT MADE

CAPABILITY RECEIVED INNO. TRAINING IMPACT

RETURN ON % OF PROFITS MADE FROM

% OF CAPITAL INVESTED
INVESTMENT INNO.
 STORY TELLING

• SANJEEV BIKHCHANDANI
• Better product is what the customer wants rather than what appeals to your
aesthetic sensibilities
• Customer’s money is a hundred times better than investor funding.
• The core of any business is the value of its proposition and its ability to sell
itself to its targeted market. Does it have what it takes for a customer to
loosen his purse strings?
• Look for meaning, not money.
• You should be happy with what you do.
STORY TELLING
• DINESH & BRIJESH AGARWAL
• First mover advantage is mostly a myth!
• Half of the companies that go first fail!
• First followers have a mere 8% failure rate.
• It takes 20 years to be an overnight success.
• 6 crore buyers – 5 crore products – 500+cr
STORY TELLING
• ASHISH HEMRAJANI, PARIKSHIT DHAR,
RAJESH BALPANDE

• Startup founders need to get their hands

dirty. That is the only way to build a sound
and successful organization.

• pick up the phones and delivery cartons

whenever needed which demonstrates
the strength of the leadership and the
desire to succeed. It sends the right
message to the employees
NOW IT’S YOUR STORY TIME
Fresh Payt
work m

Make
My OYO
Trip

Bharat
ola Matrim
ony

Rediff
Delhivery
.com
Ref/Source:
Ref/Source:
Ref/Source:
Ref/Source:
Ref/Source:
Discuss
 THE SONG “HAPPY WARNER/CHAPPELL FOR DECADES,
BIRTHDAY TO YOU” MUSIC, A SUBSIDIARY ANYONE WISHING TO HERE THE
WAS WRITTEN BY OF WARNER MUSIC PUBLICLY PERFORM SONG/LYRICS/MUSIC
MILDRED AND PATTY GROUP, LATER THE SONG OR USE IT IS THE INTELLECTUAL
HILL IN 1893, AND ITS PURCHASED THE IN COMMERCIAL PROPERTY.
COPYRIGHT WAS RIGHTS TO THE SONG SETTINGS HAD TO ITS PROTECTION IS
ACQUIRED BY THE IN 1988. OBTAIN A LICENSE DONE THROUGH
CLAYTON F. SUMMY FROM COPYRIGHTS.
COMPANY IN 1935. WARNER/CHAPPELL
AND PAY A FEE.
Intellectual Property!

• What is it !
• Types
• Examples
• Do we need to protect, If yes why?
• How to protect?
Intellectual Property Rights (IPRs)
“INTELLECTUAL”
Relating to intellect – ability to think and understand ideas

“PROPERTY”

A thing or things belonging to someone

“RIGHTS”

A moral or legal entitlement to have or do something or prevent others from doing

something
What is Intellectual Property (IP)?

• Intellectual Property refers to creations of the human mind protected by law.

• Examples include inventions, artistic works, designs, symbols, and trade
secrets.
• Like physical property, IP rights give ownership of ideas and creations.
Why is Intellectual Property Important?

• Encourages Innovation and Creativity: Inventors benefit from their work.

• Drives Economic Growth: Contributes to industries like tech and
entertainment.
• Prevents Misuse: Stops unauthorized use of creations.
• Fosters Development: Protects traditional knowledge and drives
advancement.
Types of Intellectual Property Rights
(IPRs)

• Patents: Protect inventions that are new, inventive, and industrially

applicable.
• Copyrights: Protect creative works like books, music, and software. (Also the
related rights)
• Trademarks: Protect logos, names, and slogans that identify brands.
• Trade Secrets: Protect confidential business information (e.g., formulas).
• Geographical Indications (GIs): Protect products tied to specific locations.
• Industrial Designs: Protect ornamental/aesthetic aspects of a product.
• Traditional Knowledge: Protect indigenous practices and genetic resources.
 PATENTS

TRADE
MARKS
PROTECTIO
COPY RIGHTS
N OF
INDUSTRIAL INNOVATION
DESIGNS
TRADE
INTELLECTUAL
SECRETS
PROPERTY
GEOGRAPHICAL
RIGHTS INDICATION

SEMICONDUCTOR
INTEGRATED
CIRCUITS
LAYOUT
DESIGN

PLANT VARIETIES

BIOLOGICAL
DIVERSITIES
1/23/2025 58
PATENTS

• A patent is an exclusive right granted for an invention, which is a

product or a process that provides, in general, a new way of doing
something, or offers a new technical solution to a problem.
• Patentability of any invention needs to fulfill certain criteria such
as Usefulness, Novelty and Non obviousness.
• It provides protection for the invention to the owner of the patent
for a limited period, i.e. 20 years.
 PATENT • UTILITY PATENTS : Protect the functionality
of new or improved products, processes, or
machines

S • For example, a utility patent for a computer

would cover how it turns on, processes
information, and connects to Wi-Fi
CONTRACT – GOVT. & GOVT. GRANTS WHEN CONTRACT
INVENTOR EXCLUSIVITY TO
INVENTOR IN
EXPIRES GOVT.
PUBLISHES THE
• 20 YEARS
EXCHANGE FOR
DISCLOSURE OF
INVENTION IN PUBLIC
DOMAIN. • PATENT & TRADEMARK OFFICE
INVENTION
(PTO)
• DESIGN PATENTS: Protect the unique visual
design of an item, such as its shape or look
• For example, a design patent could be applied
for the non-functional shape of a computer
mouse
• 14 YEARS
• PROVISIONAL PATENTS: Establish an early
filing date for an invention, which can be
beneficial in the patent process
• PLANT PATENTS:
• UTILITY FOR NEW VARIETY OF
PLANTS
1/23/2025 61
Filing a Patent in India

1. Check Patentability: Ensure the invention is novel and useful.

2. Conduct a Patent Search: Verify no similar patents exist.
3. Draft the Application: Include detailed descriptions and claims.
4. File the Application: Submit to the Indian Patent Office.
5. Publication: Published in the Patent Journal after 18 months.
6. Examination: Request examination within 48 months.
7. Respond to FER: Address objections in the First Examination Report.
8. Grant of Patent: Valid for 20 years upon approval.
 Filing a Patent in India: Overview

• Protects inventions legally and prevents misuse.

• Governed by The Patents Act, 1970.

2(l) "new invention" means any invention or technology which has not been anticipated by
publication in any document or used in the country or elsewhere in the world before the
date of filing of patent application with complete specification, i.e., the subject matter has
not fallen in public domain or that it does not form part of the state of the art

• Steps ensure inventions meet legal and technical standards.

Which cannot be patented or not called as an
inventions
• Section 3 of The Patents Act, 1970

• An invention which is frivolous (not having any serious purpose or value)

or which claims anything obviously contrary to well established natural laws

• An invention of intended use or commercial exploitation of which could be

contrary to public order or morality or which causes serious prejudice to
human, animal (or) plant life (or) health (or) to the environment

• The mere discovery of a scientific principle or the formulation of an abstract

theory or discovery of any living thing or non-living substance occurring in
nature;
• or the mere discovery of any new property or new use for a known substance or of the
mere use of a known process, machine or apparatus unless such known process results in a
new product
• a substance obtained by a mere admixture resulting only in the aggregation of the
properties of the components thereof or a process.
• the mere arrangement or re-arrangement or duplication of known devices each functioning
independently of one another in a known way
• Agriculture or horticulture methods
• any process for the medicinal, surgical, curative, prophylactic diagnostic, therapeutic or
other treatment of human beings or any process for a similar treatment of animals to
render them free of disease or to increase their economic value or that of their products.
• plants and animals in whole or any part thereof other than micro organisms but including
seeds, varieties and species and essentially biological processes for production or
propagation of plants and animals
• a mathematical or business method or a computer programme or algorithms
Cntd..
• a literary, dramatic, musical or artistic work or any other aesthetic creation
whatsoever including cinematographic works and television productions;

• a mere scheme or rule or method of performing mental act or method of playing

game;

• a presentation of information;

• Topography of integrated circuits;

• an invention which in effect, is traditional knowledge or which is an aggregation or

duplication of known properties of traditionally known component or components

• Inventions related to atomic energy are not patentable

Who can apply for a patent?

Application for a patent for an invention may be made by any of the following
persons:
• Any person claiming to be the true and first inventor of the invention;

• Any person being the assignee of the person claiming to be the true and first
inventor in respect of the right to make such an application;

• The legal representative of any deceased person who immediately before his
death was entitled to make such an application
 Step 1: Check Patentability
• Ensure the invention is:
Novel: Not disclosed publicly before filing.
Inventive: Significant improvement over existing technology.
Industrially Applicable: Usable in an industry.
• Example: Coconut tree-climbing device in Kerala

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 2: Conduct a Patent Search
Verify no similar patents or prior art exist.
Tools:
InPASS (India): https://ipindiaonline.gov.in/
PATENTSCOPE (Global): https://patentscope.wipo.int/
Saves time and confirms uniqueness of the invention.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 3: Draft the Application
Prepare the application with:
Detailed Description: Explain the invention clearly.
Claims: Define the scope of protection.
Abstract: Provide a summary of the invention.
Recommended: Hire a patent attorney for accuracy.
Reference: Indian Patent Guidelines.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 4: File the Application
How to File:
Online via Indian Patent Office e-filing portal.
Regional Offices: Delhi, Mumbai, Chennai, Kolkata.
Types:
Provisional Application: For incomplete inventions.
Complete Application: Full details of the invention.
Reference: IP India Filing Process.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 5: Publication
• • Patent application is published in the Patent Journal after 18 months.
• • Optional: Expedited publication by paying additional fees.
• • Importance: Makes the application public for objections.
• • Reference: Indian Patent Office - Publication Guidelines.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 6: Examination
• File a Request for Examination (RFE) within 48 months.
• Examiner evaluates:
Novelty, Inventive Step, Industrial Applicability.
Compliance with Indian patent laws.
Reference: The Patents Act, 1970.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 7: Respond to FER
• Address objections in the First Examination Report (FER).
• Common objections:
Lack of novelty or inventive step.
Insufficient details in the application.
• Deadline: Respond within 6 months.
• Reference: FER Procedures - IP India.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 8: Grant of Patent
Granted once all objections are resolved.
Valid for 20 years from the filing date.
Maintenance:
Annual renewal fees required to keep the patent in force.
Reference: Patent Maintenance Guidelines - IP India.
1. Indian Patent Office - Official Website: https://ipindia.gov.in/
2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
 Step 8: Grant of Patent
Granted once all objections are resolved.
Valid for 20 years from the filing date.

Maintenance:
Annual renewal fees required to keep the
patent in force.

Reference: Patent Maintenance Guidelines - IP Patent Grant

India.

1. Indian Patent Office - Official Website: https://ipindia.gov.in/

2. InPASS - Patent Search Tool: https://ipindiaonline.gov.in/
3. WIPO PATENTSCOPE: https://patentscope.wipo.int/
4. The Patents Act, 1970: https://legislative.gov.in/
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 Examples of IPRs in India and Kerala

1.Patents:
India: Bharat Biotech’s Rotavac vaccine.
Kerala: Coconut tree-climbing device.

2. Copyrights:
India: Amar Chitra Katha comics.
Kerala: Films like Drishyam.

3. Trademarks:
Global: Nike swoosh logo.
Kerala: Kanan Devan Tea.

4. Geographical Indications (GIs):

Kerala: Aranmula Kannadi, Malabar Pepper.
Validity of IPR
Global
1 2 3
Protection of
Patents: Territorial Nature:
Patents are valid only
within the country of
High Costs: Filing in
multiple countries is
expensive.
Complex
Regulations: Rules
differ across

Challenges
filing. countries (e.g.,
software patents).
Solutions for Global
Patent Protection

• Patent Cooperation Treaty (PCT):

Simplifies filing in 150+ countries.
Example: Bharat Biotech used PCT for
Rotavac.
• Filing in Specific Countries:
Directly file in strategic markets (e.g.,
Infosys in the USA).
• Regional Patent Systems:
Example: European Patent Office
(EPO) for EU nations.
World Intellectual
Property Organization
(WIPO)

https://welc.wipo.int/ipedu/

Image ref: https://naimun.modelun.org/wipo

 1. Simplifies 2. Promotes Uniform
International Patent Standards: Harmonizes
Filing: Manages the PCT IP laws across
system. countries.
Role of World
Intellectual 3. Protects Traditional 4. Supports Developing
Property Knowledge: Safeguards
indigenous practices
Countries: Provides
capacity-building
Organization (e.g., turmeric, neem). resources.

(WIPO)
5. Encourages Fair Use:
Balances inventor
rights with public
access.
PATENT COOPERATION
TREATY
Key Components of the PCT System
1. Inventions:
The process begins with an invention that needs patent protection.

2. International Applications:
Filed with a national patent office (e.g., Indian Patent Office) or WIPO's
International Bureau.

3. Receiving Offices:
Ensure applications meet formal requirements.
Transmit applications to International Authorities and WIPO.
Key Components of the PCT System
(Continued)
4. International Authorities**:
Include ISA (International Searching Authority) and IPEA (International
Preliminary Examining Authority).
Responsibilities:
Conduct International Search Reports (ISR).
Prepare Written Opinions on patentability.

• 5. WIPO International Bureau:

Acts as the central hub for the PCT system.
Publishes applications and ISR on PATENTSCOPE.
Timeline/Phases of the PCT
Process
1. Priority Date (0 Months):
Initial patent application establishes the priority date.
This date is critical for subsequent filings.
2. 12 Months:
File an international application under the PCT.
Ensures protection in multiple member states.
3. 16 Months:
The International Searching Authority (ISA) establishes the
International Search Report (ISR) and Written Opinion.
4. 18 Months:
WIPO publishes the application and ISR on PATENTSCOPE,
making it publicly accessible.
5. 22 Months:
Optional: File a demand for international preliminary
examination (Chapter II procedure).
References:
6. 30 Months: • WIPO - PCT Time Limits: https://www.wipo.int/pct/en/texts/time_limits.html
Deadline for entering the national phase in most member • PCT Applicant’s Guide: https://www.wipo.int/pct/en/texts/gdlines.html
countries. • PATENTSCOPE: https://patentscope.wipo.int/
Applicants decide in which countries to seek protection and • WIPO FAQs on ISR: https://www.wipo.int/pct/en/faqs/faqs.html
• PCT Guide on National Phase: https://www.wipo.int/pct/en/texts/gdlines.html
comply with local requirements. • European Patent Office on PCT: https://www.epo.org/
 Benefits of the PCT System
• 1. Simplifies Filing:
- A single application works for 150+ countries.

• 2. Delays Costs:
- Applicants have up to 30 months to decide on specific countries.

• 3. Centralized Process:
- ISR and Written Opinion provide insights before national filings.

• 4. Encourages Global Protection:

References:
- Facilitates entry into multiple markets with reduced administrative burden.
WIPO Benefits of PCT: https://www.wipo.int/pct/en/
USPTO on PCT Benefits: https://www.uspto.gov/
 Role of WIPO in the PCT System
• 1. Administers the PCT system globally.
• 2. Publishes international applications and ISR on PATENTSCOPE.
• 3. Provides centralized services for applicants, including:
International Searching Authority (ISA).
International Preliminary Examining Authority (IPEA).
• 4. Harmonizes IP laws across member countries.

References:
WIPO Official Site: https://www.wipo.int/
PATENTSCOPE and ISA Details: https://www.wipo.int/patentscope/en/
 1. Darjeeling Tea: GI status protects farmers
from counterfeit products.

2. Nokia: Patents generate billions in

Case Studies royalties globally.

and Examples 3. Films: Copyright enforcement reduces

piracy.

4. Aranmula Kannadi: GI protection for

Kerala’s handmade mirrors.
 Electric Powered cars
Using the self fabricated chassis, drive and power of
an Enfield Bullet motorcycle in front the innovator has
retrofitted an attachment with two wheels at the rear
with a tool bar to fit various farm implements
 One can stream video from the Ray-Bans straight out to
Instagram

The sunglasses are equipped with ultrasonic transmitters,

receivers, and microprocessors. It provides alerts in the
form of vibration. The vibration gets stronger as the user
gets to an obstacle
Discuss
GRASSROOTS INNOVATION
 Problem Statement:
Tractor is not an affordable option for farmers having small
land holdings.
Increase in the cost of fodder for bullock
Regular occurrence of drought and shortage of farm labor
forced the farmers of Saurashtra area of Gujarat to look for
an alternative to Bullock.

Innovation/Product:
Using the self fabricated chassis, drive and power of an
Enfield Bullet motorcycle in front the innovator has
retrofitted an attachment with two wheels at the rear with a
tool bar to fit various farm implements.
Bullet Santi
IPR Status: Patent Granted in India (No: 205097) It can plough one acre (0.4 hectares) of land in less than half
and USA (No: 6854404B2) an hour, using just two litres of diesel.
This device considerably reduces costs for farmers, who
cannot afford to buy tractors.
The bike can be used for travelling once the field work is
over.
It takes about half an hour for this transition. The Santi costs
about Rs 38,000.
 Problem Addressed: Visually impaired individuals face a lot of
challenges in daily life like identifying obstacles while walking or
crossing roads. Helping a blind lady find the direction prompted
him to find a solution to this problem. He developed smart
sunglasses for blind people to help them identify obstacles at the
waist level and above.
Technology: The sunglasses are equipped with ultrasonic
transmitters, receivers, and microprocessors. It provides alerts in
the form of vibration. The vibration gets stronger as the user gets
to an obstacle.
Societal Impact: With intelligent sunglasses complemented
Intelligent with a smart walking stick, visually impaired people can locate
sunglasses for the obstacles more accurately. It will ease the difficulty of finding
blind by Anang
Tadar (Arunachal ways for their day to-day activities.
Pradesh)
Frugality

Necessity

Simplicity

Inclusivity
Grassroots Innovations: An Overview
• Grassroots innovations are creative solutions developed by
individuals or communities with limited resources.
• These innovations address local challenges in sustainable, affordable,
and accessible ways.
• Examples: Natural refrigerators, herbal pesticides, and solar-powered
devices.

References:
Source: Honey Bee Network, SRISTI.
Key Characteristics of Grassroots Innovations
1. Necessity-Driven: Designed to meet unmet or poorly met needs.
2. Frugality: Use of low-cost, locally available materials.
3. Inclusivity: Often created for marginalized or underserved
populations.
4. Simplicity and Sustainability: Aligned with eco-friendly principles and
traditional knowledge.

References:
Source: National Innovation Foundation (NIF).
How Grassroots Innovations Differ from
Mainstream Innovations
1. Source: Arise from individuals without formal R&D, unlike
institutionalized research.
2. Market Orientation: Solve localized issues versus broader market
problems.
3. Resources: Use traditional knowledge and frugal materials.
4. Accessibility: Focused on affordability and usability for everyday
people.

References:
Source: SRISTI and Honey Bee Network.
https://gian.org/innovations/
What is GIAN?
• The Grassroots Innovations Augmentation Network (GIAN) was
established in 1997.
• India's first grassroots innovation incubator.
• Collaborates with Honey Bee Network, SRISTI, and NIF to support
rural innovators.

References:
Source: GIAN Official Website.
Core Functions of GIAN
1. Scouting Innovations: Identifies innovative ideas through programs
like Shodh Yatras.
2. Incubation: Testing, refining, and scaling innovations with technical
collaborations.
3. Funding Support: Provides financial aid through MVIF and
partnerships with banks.
4. IPR Protection: Helps secure patents, trademarks, and copyrights.
5. Marketing Assistance: Connects innovators with markets and
showcases products.
References:
Source: GIAN Official Reports.
Notable Grassroots Innovations Supported
by GIAN
1. MittiCool Fridge (Gujarat): A clay fridge that works without
electricity.
2. Bullet Santi (Gujarat): A motorcycle plowing and sowing machine.
3. Solar Mosquito Trap (Kerala): Eco-friendly pest control device.
4. Pokkali Rice Farming (Kerala): Revival of saltwater-resistant rice
varieties.
5. Natural Water Cooler (Gujarat): Energy-free cooling using clay.

References:
Sources: GIAN Reports, Honey Bee Network.
Recent Programs by GIAN
1. Micro Venture Innovation Fund (MVIF): Bridges the gap between
prototype development and commercialization.
2. Vernacular Innovation Program: Supports innovators communicating
in regional languages.
3. Women-Led Innovations: Focuses on innovations by women in
agriculture and crafts.
4. Youth Engagement: Promotes grassroots innovations among young
minds through schools and colleges.
References:
Source: GIAN Annual Reports.
Impact of GIAN
• Economic Growth: Empowers rural innovators, creating jobs and
boosting local economies.
• Social Equity: Ensures marginalized groups have a platform for their
ideas.
• Sustainability: Promotes eco-friendly innovations and sustainable
practices.
• Policy Influence: Inspired similar grassroots innovation incubation
models globally.
References:
Source: National Innovation Foundation.
GRASSROOTS INNOVATION
•Hand-Operated Water Lifting Device:
helps farmers irrigate their fields without relying on electricity.

•Groundnut Digger:
assists farmers in efficiently harvesting groundnuts,
reducing labor and time.

•Paddy Thresher:
helps in separating rice grains from the stalks

•Tree Climber:
help individuals climb trees safely and efficiently
 CHALLENGES IN
COMMERCIALISATION OF
MINDSET
TECHNOLOGY INNOVATIONS
DISCONNECT

SKILL

FUNDING

INFRASTRUCTURE

TIMELINE

MARKET ACCESS
Apple AirPower
 Apple AirPower
Launch Date: Announced in September 2017 (never officially
launched)
Discontinued Date: Canceled in March 2019
Type: Wireless charging pad
Services: Simultaneous wireless charging for multiple devices
(iPhone, Apple Watch, AirPods)

Reasons for Failure:

- Skill: Technical issues like overheating due to overlapping
charging coils.
- Timeline: Delayed launch, allowing competitors to capture
the market.
- Infrastructure: High production costs made the product
unfeasible for mass manufacturing.
References:
https://www.theverge.com
https://www.macrumors.com
https://www.engadget.com
Quibi
Quibi
• Launch Date: Launched in April 2020
• Discontinued Date: Shutdown in October 2020
• Type: Short-form video streaming platform
• Services: High-quality, quick-bite videos optimized for
mobile viewing.

• Reasons for Failure:

• - Disconnect: Failed to attract younger audiences
who preferred free platforms like TikTok.
• - Market Access: Couldn’t compete with
established streaming services during the pandemic.
• - Funding: Excessive spending on marketing and
content without user adoption.

References:

• https://www.nytimes.com

• https://www.cnbc.com

• https://www.theverge.com
Nike Fuelband
Nike FuelBand
Launch Date: Launched in January 2012
Discontinued Date: Discontinued in April 2014
Type: Fitness tracker
Services: Activity tracking, calorie counting, and
goal setting for fitness enthusiasts.

Reasons for Failure:

- Disconnect: Overtaken by competitors like
Fitbit and smartwatches with better features.
- Skill: Inaccurate tracking data and lack of
integration with smartphones.
- Market Access: Failed to appeal to a broad
audience due to limited functionality.
References:
https://www.wired.com
https://www.bbc.com
https://www.businessinsider.com
Google Allo
Google Allo
Launch Date: Launched in September 2016
Discontinued Date: Discontinued in March 2019
Type: Messaging app
Services: Smart messaging with AI-powered
features like Google Assistant integration.

Reasons for Failure:

- Disconnect: Lacked features like SMS integration
and encryption offered by competitors.
- Market Access: Failed to differentiate itself from
WhatsApp, Messenger, and others.
- Mindset: Google’s frequent product changes
eroded user trust.
References:
https://www.theverge.com
https://www.androidpolice.com
https://www.cnbc.com
Microsoft Mixer
 Microsoft Mixer

Launch Date: Launched in January 2016

Discontinued Date: Shutdown in July 2020
Type: Game streaming platform
Services: Live streaming for gamers with interactive features and exclusive contracts with streamers.

Reasons for Failure:

- Market Access: Failed to attract a large audience, overshadowed by Twitch.
- Funding: High costs of streamer contracts without sufficient ROI.
- Disconnect: Lacked innovative features to differentiate from competitors.
References:
https://www.bbc.com
https://www.theverge.com
https://www.gamesindustry.biz
Google Play Music
Launch Date: Launched in November 2011
Discontinued Date: Shutdown in December 2020
Type: Music streaming platform
Services: Music streaming, storage for personal music libraries, and playlist creation.

Reasons for Failure:

- Disconnect: Failed to compete with Spotify and Apple Music in terms of user
experience.
- Market Access: Confused users with the transition to YouTube Music.
- Mindset: Lack of focus and frequent changes in Google’s music strategy.
References:
https://www.nytimes.com
https://www.engadget.com
https://www.cnbc.com
 Challenges in
Commercialisation of
Technology Innovations
Detailed Investor Challenges Across Different Aspects
Self-Watering Plant Pot
• Mindset: The product is too niche. Why would people buy a self-watering plant pot
when they can easily water plants themselves?
• Disconnect: This innovation doesn’t address a large-scale need. How do you scale this
product to appeal to a broader audience?
• Skill: Do you have the technical and design expertise to create a durable and functional
pot that performs consistently?
• Funding: How much will it cost to develop molds and prototypes for the pots? Will this
cost be recoverable given the product’s price point?
• Infrastructure: Do you have access to eco-friendly materials and manufacturing partners
capable of mass production?
• Timeline: How long will it take to finalize the design, manufacture, and launch the
product?
• Market Access: How will you convince garden centers or e-commerce platforms to stock
your product?
Foldable Solar Charger
• Mindset: The market is saturated with solar chargers. What makes yours unique?
• Disconnect: This product seems designed for hikers and campers. How will you
expand beyond this small market?
• Skill: Do you have the engineering expertise to create efficient, lightweight, and
durable solar panels?
• Funding: Developing solar technology can be expensive. How will you manage
costs without compromising quality?
• Infrastructure: Do you have access to reliable solar panel manufacturers and
material suppliers?
• Timeline: Solar technology evolves quickly. Will your product still be relevant by
the time it launches?
• Market Access: How will you distribute the product globally, given the logistical
challenges of shipping fragile solar panels?
Smart Water Bottle with Temperature
Control
• Mindset: Why would someone pay extra for this when thermos bottles are
already widely available?
• Disconnect: The target market seems limited to premium buyers. How do you
plan to reach price-sensitive consumers?
• Skill: Do you have expertise in integrating temperature control technology with
durable and food-safe materials?
• Funding: Developing rechargeable heating/cooling technology will require
significant investment. How will you secure it?
• Infrastructure: Will the components (e.g., sensors, batteries) be locally sourced
or imported?
• Timeline: How will you handle delays in product testing and regulatory
approvals?
• Market Access: How will you position this product in retail stores or online
Noise-Cancelling Baby Stroller
• Mindset: Parents might see this as an unnecessary luxury. How will you educate
them about its value?
• Disconnect: This product caters to urban parents. How will you expand to other
demographics?
• Skill: Do you have expertise in integrating noise-cancelling technology into
lightweight and foldable strollers?
• Funding: How will you cover the cost of R&D and testing for safety certifications?
• Infrastructure: Do you have partnerships with stroller manufacturers to produce
this innovation?
• Timeline: How long will it take to get noise-cancelling technology certified for
baby use?
• Market Access: How will you differentiate your product in the crowded baby
products market?
Portable Air Purifier Necklace
• Mindset: Will people trust this product to work effectively in polluted environments?
• Disconnect: This seems like a gadget for wealthy urban buyers. How will you make it
accessible to those who need it most?
• Skill: Do you have the technical expertise to ensure the purifier works reliably in high-
pollution zones?
• Funding: Developing efficient filtration technology can be expensive. How will you
manage costs?
• Infrastructure: Do you have access to materials like advanced filters and rechargeable
batteries?
• Timeline: How will you handle testing and certifications needed for air filtration
technology?
• Market Access: How will you convince consumers that this necklace is better than
traditional air purifiers?
Edible Coffee Cups
• Description: Coffee cups made entirely from a biscuit-like material that can hold hot beverages and can be
eaten afterward.

• Why It's Innovative: Reduces single-use plastic and paper waste while offering an extra snack for coffee lovers.

• Challenges:
• - Mindset: Will people adapt to eating their coffee cups? Concerns about consumer willingness to try something
unconventional.
• - Disconnect: How will this appeal to tea drinkers or those who prefer reusable cups?
• - Skill: Do you have the expertise to create a cup that holds liquid for long durations without crumbling?
• - Funding: How much investment will go into R&D for taste, durability, and food safety?
• - Infrastructure: Do you have the right facilities to mass-produce these edible cups sustainably?
• - Market Access: How will you convince coffee shops and cafes to adopt this as an alternative to traditional
cups?

• References:
Personalized Candy Messages
• Description: Small hard candies that have custom messages, emojis, or names printed on them.

• Why It's Innovative: Fun and engaging, making candies more personal and memorable.

• Challenges:
• - Mindset: Will this be seen as a novelty product only for special occasions?
• - Disconnect: How do you appeal to daily candy buyers who prioritize price over personalization?
• - Skill: Do you have the technical expertise to print detailed designs on tiny candies?
• - Funding: Developing precise printing and food-safe inks might require significant investment.
• - Infrastructure: Do you have access to food-grade printing technology and scalable manufacturing
facilities?
• - Market Access: How will you reach students and young consumers outside of special events?

• References:
Color-Changing Instant Noodles
• Description: Noodles that change color as they cook, providing a visual indicator that they are ready to eat.

• Why It's Innovative: Adds a fun and functional element to a staple student meal while appealing to young audiences.

• Challenges:
• - Mindset: Will parents trust this product, or will they worry about artificial ingredients?
• - Disconnect: How will you appeal to health-conscious consumers who prefer whole foods?
• - Skill: Do you have the expertise to create natural, food-safe dyes for the color change?
• - Funding: Will R&D for food-safe, cost-effective dyes increase manufacturing costs?
• - Infrastructure: Do you have partnerships with noodle manufacturers to scale production?
• - Market Access: How will you position this product in a crowded instant noodle market dominated by big brands?

• References:
• https://www.innovativefood.org
Glow-in-the-Dark Snack Packaging
• Description: Snack packets that glow in the dark, designed for students studying late at night or during camping trips.

• Why It's Innovative: Combines functionality with fun, helping snacks stand out in low-light environments.

• Challenges:
• - Mindset: Will people see this as an unnecessary gimmick?
• - Disconnect: How will this appeal beyond niche users like students or campers?
• - Skill: Do you have the expertise to create glow-in-the-dark materials that are non-toxic and food-safe?
• - Funding: Developing unique packaging could significantly raise costs. How will you manage affordability?
• - Infrastructure: Do you have access to sustainable packaging suppliers who can create this at scale?
• - Market Access: How will you differentiate your product on shelves already filled with eye-catching designs?

• References:
• https://www.packagingdesigns.com
• https://www.glowpackaging.org
Multi-Flavored Ice Cream Bars
• Description: Ice cream bars divided into sections, each with a different flavor (e.g., chocolate, mango, strawberry, and vanilla).

• Why It's Innovative: Appeals to indecisive eaters and those who enjoy variety in one serving.

• Challenges:
• - Mindset: Will this be seen as a novelty rather than an everyday choice?
• - Disconnect: How will you target consumers who prefer single flavors?
• - Skill: Do you have expertise in creating seamless transitions between flavors without mixing them?
• - Funding: Developing molds and ensuring flavor consistency will require investment.
• - Infrastructure: Do you have access to ice cream manufacturers capable of producing multi-flavored bars at scale?
• - Market Access: How will you convince retailers to allocate freezer space for a new type of product?

• References:
• https://www.icecreaminnovations.com
• https://www.multiflavoredbars.org
Characteristics
of an
Entrepreneur
Lean Startup BUILD – MEASURE - LEARN

You build a minimum viable product

(mvp), an iterative prototype of the
would-be functional solution, and
make it available for real customers to
get their feedback. If it’s negative, you
have not failed. You can pivot and
correct the course of your idea or
change the business model.
 LEAN STARTUP
METHODOLOGY
• The lean startup methodology is
a method of managing and
building a business or startup by
experimenting, testing, and
iterating while developing
products based on findings from
your tests and feedback.
 Customer Problem: Solution: Outlining
Segments: Addressing specific how your product
Identifying the pain points for your or service resolves
target audience for target customers. the identified
your product or problem.
service.
Unfair Advantage: Channels:
Value Propositions: Establishing what Determining how
Highlighting unique makes your you will reach your
benefits compared business target customers
to competitors. sustainable and and deliver your
defensible. value proposition.
Revenue Streams: Cost Structure:
Defining how you Identifying key Key Metrics:
will generate expenses Establishing how
income from your associated with you will measure
customers. running your the success of your
business. business.
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
 Lean
Canva
s
Model
https://www.bdc.ca/en/articles-
tools/entrepreneur-
toolkit/business-
assessments/entrepreneurial-
potential-self-assessment
 BUSINESS PLAN
DESCRIPTIO
EXECUTIV
TITLE INDUSTRY N SERVICE OPERATION
E
PAGE ANALYSIS OF LINE PLAN
SUMMARY
VENTURE

ORGANISATIO ASSESSMEN
MARKETING FINANCIAL
N T APPENDIX
PLAN PLAN
PLAN OF RISK
 TITLE PAGE
•NAME & ADDRESS OF BUSINESS
•NAME OF OWNERS
•DESCRIPTION OF BUSINESS
 EXECUTIVE SUMMARY (3-4 PAGES)

BUSINESS UNIQUE PROFILE OF REVENUE

CONCEPT SELLING OWNERS STREAMS AND
PROPOSITION ROI
 PRESENT OUTLOOK AND TRENDS

ANALYSIS OF COMPETITORS
INDUSTRY
ANALYSIS MARKET SEGMENTATION

INDUSTRY AND MARKET

FORECASTS
DESCRIPTION OF VENTURE

PRODUCTS / SERVICES SIZE OF BUSINESS

OFFICE EQUIPMENT PERSONNEL

 PRODUCTION PLAN

MANUFACTURING PROCESS

PHYSICAL PLANT

MACHINERY AND EQUIPMENT

NAMES OF RAW MATERIAL SUPPLIERS

 OPERATIONAL PLAN

DESCRIPTION OF FLOW OF TECHNOLOGY

COMPANY’S ORDERS UTILIZATION
OPERATION
 MARKETING PLAN

PRICING

DISTRIBUTION

PROMOTION

PRODUCT FORECASTS
 ORGANISATIONAL PLAN
• FORM OF OWNERSHIP

• IDENTIFICATION OF PARTNERS/SHAREHOLDERS

• AUTHORITY OF PRINCIPALS

• MANAGEMENT TEAM

• ROLES AND RESPONSIBILITY OF MEMBERS

 EVALUATE WEAKNESS
OF BUSINESS

ASSESSMEN NEW TECHNOLOGIES

T OF RISK

CONTINGENCY PLANS
 PRO
SOURCES
FORMA
AND
APPLICATIONS INCOME
OF FUNDS STATEMEN
T
FINANCIA
L PLAN BREAK- CASH FLOW
EVEN PROJECTION
ANALYSIS S

PRO
FORMA
BALANCE
SHEET
 LETTERS

MARKET RESEARCH DATA

APPENDIX
LEASES OR CONTRACTS

PRICE LISTS FROM SUPPLIERS

SOCIAL ENTREPRENEURSHIP – CASE 1

Growth Strategy_: _Value Proposition_:

Expanding Handmade,

Coastal Delights
distribution to urban preservative-free
markets and online pickles made with
platforms while traditional recipes
maintaining the and local ingredients
authenticity of the from the coastal
product. region.

Tamil Nadu - Pickles

_Market Segments_: _Revenue Model_:
Health-conscious Revenue from local
consumers, urban sales, online
dwellers seeking platforms, and
authentic regional potential partnerships
products, and the with gourmet food
Indian diaspora. retailers.
 SOCIAL ENTREPRENEURSHIP – CASE 2

Growth Strategy_:
Expanding its presence _Value Proposition_:
in national and global High-quality, eco-
markets while
maintaining the quality
of its handmade
products and ensuring
friendly textiles that
preserve traditional
Assamese weaving
techniques and
Green Loom
fair wages for the empower local women
artisans.

_Revenue Model_:
ASSAM – Handloom textiles
_Market Segments_: Revenue from product
Eco-conscious sales, collaborations
consumers, ethically with fashion designers,
minded fashion buyers, and government grants
and customers who aimed at promoting
appreciate artisanal traditional crafts and
products. women’s
empowerment.
SCHEMES SUPPORTING TECH ENTREPRENEURSHIP

https://dpiit.gov.in/

https://dst.gov.in/

https://aim.gov.in/

https://www.nif.org.in/

https://www.nstedb.com/
SCHEMES SUPPORTING TECH ENTREPRENEURSHIP
https://www.techno-preneur.net/

https://www.indiascienceandtechnology.gov.in/listingpage/tbis

https://www.indiascienceandtechnology.gov.in/programme-
schemes/human-resource-and-development/science-technology-
entrepreneurship-park-step

https://nitc.ac.in/multidiscilplinary-centres/centre-for-innovation-
entrepreneurship-amp-incubation
MARKETING MANAGEMENT

PRODUCT
(LEARN THE CONCEPT WITH
SUITABLE REAL-WORLD
EXAMPLES)

MARKETING
PROMOTION MIX
PRICE

POSITION
OPERATIONS MANAGEMENT

FEATURES:

PROCESS
PLANNING & RESOURCE QUALITY
DESIGN &
FORECASTING MANAGEMENT ASSURANCE
OPTIMISATION
OPERATIONS MANAGEMENT

BENEFITS:

BETTER
IMPROVED REDUCED FLEXIBILITY &
CUSTOMER
EFFICIENCY COSTS ADAPTABILITY
SATISFACTION
PERSONNEL MANAGEMENT
MAN POWER HIRING & TRAINING &
PLANNING RECRUITMENT DEVELOPMENT

PERFORMANCE MOTIVATION
WORKPLACE
MANAGEMENT &
CULTURE
RETENTION

ADAPTING
CONFLICT LEGAL & ETHICAL
TO
RESOLUTION CONSIDERATION
GROWTH
 FINANCIAL MANAGEMENT
BUDGETING & PROFIT RE- INVESTMENT
FORECASTING INVESTMENT DECISION

FINANCIAL
CASH FLOW TAX PLANNING &
REPORTING &
MANAGEMENT COMPLIANCE
ANALYSIS

RISK
CAPITAL EXIT STRATEGIES &
MANAGEMENT &
STRUCTURE & FINANCIAL
FINANCIAL
FUNDING MANAGEMENT
CONTROLS

FINANCIAL MANAGING
PLANNING & REVENUE &
STRATEGY PROFITABILITY
 INDUSTRIAL SICKNESS

LACK OF LACK OF PATENT-LEGAL

INVESTMENT MODERNISATION ISSUES

ENVIRONMENTAL NATURAL
ISSUES DISASTERS
 INDUSTRIAL SICKNESS

LACK OF LACK OF
LABOUR ISSUES
DEMAND DIVERSIFICATION

OUTDATED HIGH
TECHNOLOGY COMPETITION
 INDUSTRIAL SICKNESS

UNAVAILABILITY POOR
UNSKILLED
OF RAW FINANCIAL
LABOURS
MATERIALS MANAGEMENT

SUPPLY CHAIN
GLOBALISATION
ISSUES
 Are you
ready for
the journey?

THANKYOU
Financial
Management
 Budgeting and Forecasting
Introduction to Budgeting and Forecasting
• Budgeting: Planning income and expenses for a specific period.
• Forecasting: Predicting future financial performance based on past and
present data.
• Helps businesses allocate resources effectively and prepare for
uncertainties.

2
Budgeting and Forecasting
Key Budgeting Techniques

Incremental Budgeting: Adjusting past budgets for

inflation or growth.
Zero-Based Budgeting: Justifying every expense from
scratch.
Activity-Based Budgeting: Allocating funds based on
business activities.

3
Budgeting and Forecasting (Financial Forecasting
Methods)

Qualitative Forecasting: Expert Quantitative Forecasting: Historical Rolling Forecasts: Continuous

opinions, market trends. data analysis, regression models. budget adjustments for flexibility.

4
Cash Flow Management

Cash Inflows: Cash Outflows:

Sales, Salaries, rent,
investments, inventory, loan
loans. repayments.

Positive cash
flow ensures
smooth
operations.
5
Cash Flow Management
Techniques for Managing Cash Flow

Speed up receivables (early payment incentives).

Delay payables strategically (negotiate better terms).

Maintain a cash reserve for emergencies.

Use cash flow forecasting for better financial planning.

6
Capital Structure and Funding
What is Capital Structure?​

Debt vs. Equity: Balancing loans and investor

funding.

Optimal Capital Mix: Ensuring financial stability and

growth.

Factors Influencing Capital Structure: Market

conditions, risk tolerance.
7
 Capital Structure and Funding

DEBT FINANCING: BANK LOANS, EQUITY FINANCING: VENTURE BOOTSTRAP FUNDING:

BONDS, CREDIT LINES CAPITAL, IPOS, PRIVATE RETAINED EARNINGS,
INVESTORS REINVESTED PROFITS

8
Financial Planning and Strategy
Importance of Financial Planning​

Aligns financial goals with business objectives.

Ensures stability, growth, and risk management.

Helps businesses adapt to market changes.

9
Financial Planning and Strategy

Revenue generation plans.

Cost management techniques.

Investment strategies and funding sources.

10
Managing Revenue and Profitability
Revenue Management Strategies​

PRICING OPTIMIZATION. EXPANDING MARKET PRODUCT/SERVICE

REACH AND CUSTOMER DIVERSIFICATION.
BASE.
11
Managing Revenue and Profitability
Enhancing Profitability​

1 2 3
Reducing operational Improving efficiency Investing in high-
costs. and productivity. margin
products/services.

12
Risk Management and Financial Controls
Identifying Financial Risks
• Market risk, credit risk, operational risk.
• Regulatory and compliance risks.

13
Risk Management and Financial Controls
Financial Control Measures​

Ensuring
Implementing Establishing clear
compliance with
internal audits. financial policies.
industry regulations.

14
Tax Planning

Taking advantage of tax Structuring business Choosing the right business

credits and deductions. expenses efficiently. entity for tax benefits.

15
Tax Compliance

1 2 3
Keeping up with Maintaining proper Avoiding penalties
tax laws and filing financial records. and legal issues.
deadlines.

16
Profit Reinvestment

SUPPORTS BUSINESS ENHANCES BUILDS FINANCIAL

GROWTH AND OPERATIONAL STABILITY AND
EXPANSION. EFFICIENCY. RESERVES.

17
Profit Reinvestment

Investing Investing in R&D and innovation.

Expanding Expanding product/service offerings.

Upgrading Upgrading technology and infrastructure.

18
Investment Decisions

Short-term vs.
Risk vs. return Diversification
long-term
assessment. strategies.
investments.

19
Investment Decisions

Aligning
Conducting Analyzing
investments
market financial
with business
research. feasibility.
goals.

20
Financial Reporting and Analysis

Balance Sheet: Assets, liabilities, equity.

Income Statement: Revenue, expenses, profits.
Cash Flow Statement: Cash inflows and outflows.

21
Financial Reporting and Analysis

Ratio analysis (profitability, liquidity, efficiency).

Trend analysis for forecasting.

Benchmarking against industry standards.

22
Exit Strategy

A plan for selling or Ensures maximum Helps business

transitioning a returns and minimal owners prepare for
business. disruptions. future financial
security.

23
Exit Strategy

Selling the Business: Acquisition, merger, IPO.

Succession Planning: Passing leadership to a family

member or employee.

Liquidation: Closing operations and selling assets.

24
Financial
Management
Basics
Understanding Key
Financial Concepts:

ROI, Break-even
Analysis, P&L
Statement, Cash
Flow Statement
Basic Financial • Revenue: Total earnings from sales
• COGS: Direct cost of goods sold
Terms • Gross Profit: Revenue - COGS
• Operating Expenses: Rent,
salaries, marketing
• Net Profit: Gross Profit - Operating
Expenses
• CapEx vs OpEx: Capital vs
Operational spending
• Working Capital: Current Assets -
Current Liabilities
 Return on Investment (ROI)
Formula:
ROI = (Net Profit / Investment Cost) ×
100

Example:

• Investment in a pizza oven:

₹1,50,000
• Annual Net Profit: ₹6,00,000

• ROI = (6,00,000 / 1,50,000) × 100 =

 Break-even Analysis

• Formula: Break-even Point = Fixed

Costs / (Selling Price - Variable Cost)
Example:
• - Fixed Costs: ₹90,000
• - Selling Price: ₹300
• - Variable Cost: ₹120
• - Break-even Point = 90,000 / (300 -
120) = 500 pizzas
 • The P&L statement shows a
Profit & Loss company's revenues, costs, and
profits over a specific period.
(P&L) Statement -
Overview Key Sections:
• - Revenue (Total Sales Income)
• - Cost of Goods Sold (COGS)
• - Gross Profit = Revenue - COGS
• - Operating Expenses (Rent,
Salaries, Utilities, Marketing)
• - Operating Profit (EBIT) = Gross
Profit - Operating Expenses
• - Interest & Taxes (Loan Payments,
Government Taxes)
• - Net Profit = Operating Profit -
(Interest + Taxes)
P&L Statement Example: Hot Slice
Pizza (June 2024)

• Revenue: ₹3,00,000
• COGS (Raw Materials – Dough,
Cheese, Toppings): ₹1,20,000
• Gross Profit: ₹1,80,000
• Operating Expenses (Rent,
Salaries, Utilities, Marketing):
₹90,000
• Operating Profit: ₹90,000
• Interest on Loan: ₹5,000
• Taxes (30% of Operating Profit):
₹25,500
• Net Profit: ₹59,500
Cash Flow Statement - Overview

Key Sections:
• 1. Operating Activities: Cash earned from daily business (sales,
expenses, supplier payments)
• 2. Investing Activities: Cash used to buy/sell assets (equipment,
property, stocks)
• 3. Financing Activities: Cash from loans, investments, and debt
repayments

• It helps businesses understand if they have enough cash to

operate, even if they are profitable.
 • Opening Cash Balance (Start of Month): ₹50,000
Operating Cash Flow:
Cash Flow
• + Cash from Sales (Customer Payments): ₹3,00,000
Statement • - Payments for Ingredients, Rent, Salaries: ₹2,00,000
Example: Hot • Net Cash from Operations: ₹1,00,000
Slice Pizza (June Investing Cash Flow:
2024) • - Purchased New Oven: ₹50,000
• Net Cash from Investments: ₹-50,000
Financing Cash Flow:
• + Bank Loan Received: ₹1,00,000
• - Loan Repayment: ₹10,000
• Net Cash from Financing: ₹90,000

• Closing Cash Balance (End of Month): ₹1,90,000

P&L vs Cash Flow Statement - Key
Differences

1 2 3
- P&L shows if a - A company can be - Cash Flow helps
business is profitable; profitable on P&L but plan liquidity and
Cash Flow shows still have no cash if working capital, while
actual money collections are P&L helps track
movement. delayed. profitability.
 Key Takeaways

• - The P&L Statement tells if a business is

making a profit.
• - The Cash Flow Statement tells if a
business has enough money to operate.
• - ROI helps measure investment
profitability.
• - Break-even analysis helps plan pricing
and sales targets.
• - A profitable business can fail if it runs
out of cash.
Financial Management
Budgeting and Forecasting
Introduction to Budgeting and Forecasting
• Budgeting: Planning income and expenses for a specific period.
• Forecasting: Predicting future financial performance based on past
and present data.
• Helps businesses allocate resources effectively and prepare for
uncertainties.

2
Budgeting and Forecasting
Key Budgeting Techniques
• Incremental Budgeting: Adjusting past budgets for inflation or
growth.
• Zero-Based Budgeting: Justifying every expense from scratch.
• Activity-Based Budgeting: Allocating funds based on business
activities.

3
Budgeting and Forecasting
Financial Forecasting Methods
• Qualitative Forecasting: Expert opinions, market trends.
• Quantitative Forecasting: Historical data analysis, regression models.
• Rolling Forecasts: Continuous budget adjustments for flexibility.

4
Cash Flow Management
Understanding Cash Flow
• Cash Inflows: Sales, investments, loans.
• Cash Outflows: Salaries, rent, inventory, loan repayments.
• Positive cash flow ensures smooth operations.

5
Cash Flow Management
Techniques for Managing Cash Flow
• Speed up receivables (early payment incentives).
• Delay payables strategically (negotiate better terms).
• Maintain a cash reserve for emergencies.
• Use cash flow forecasting for better financial planning.

6
Capital Structure and Funding
What is Capital Structure?
• Debt vs. Equity: Balancing loans and investor funding.
• Optimal Capital Mix: Ensuring financial stability and growth.
• Factors Influencing Capital Structure: Market conditions, risk
tolerance.

7
Capital Structure and Funding
Sources of Business Funding
• Debt Financing: Bank loans, bonds, credit lines.
• Equity Financing: Venture capital, IPOs, private investors.
• Internal Funding: Retained earnings, reinvested profits

8
Financial Planning and Strategy
Importance of Financial Planning
• Aligns financial goals with business objectives.
• Ensures stability, growth, and risk management.
• Helps businesses adapt to market changes.

9
Financial Planning and Strategy
Key Elements of Financial Strategy
• Revenue generation plans.
• Cost management techniques.
• Investment strategies and funding sources.

10
Managing Revenue and Profitability
Revenue Management Strategies
• Pricing optimization.
• Expanding market reach and customer base.
• Product/service diversification.

11
Managing Revenue and Profitability
Enhancing Profitability
• Reducing operational costs.
• Improving efficiency and productivity.
• Investing in high-margin products/services.

12
Risk Management and Financial Controls
Identifying Financial Risks
• Market risk, credit risk, operational risk.
• Regulatory and compliance risks.

13
Risk Management and Financial Controls
Financial Control Measures
• Implementing internal audits.
• Establishing clear financial policies.
• Ensuring compliance with industry regulations.

14
Tax Planning and Compliance
Tax Planning Strategies
• Taking advantage of tax credits and deductions.
• Structuring business expenses efficiently.
• Choosing the right business entity for tax benefits.

15
Tax Planning and Compliance
Ensuring Compliance
• Keeping up with tax laws and filing deadlines.
• Maintaining proper financial records.
• Avoiding penalties and legal issues.

16
Profit Reinvestment
Importance of Reinvesting Profits
• Supports business growth and expansion.
• Enhances operational efficiency.
• Builds financial stability and reserves.

17
Profit Reinvestment
Ways to Reinvest Profits
• Investing in R&D and innovation.
• Expanding product/service offerings.
• Upgrading technology and infrastructure.

18
Investment Decisions
Evaluating Investment Opportunities
• Risk vs. return assessment.
• Short-term vs. long-term investments.
• Diversification strategies.

19
Investment Decisions
Investment Decision-Making Process
• Conducting market research.
• Analyzing financial feasibility.
• Aligning investments with business goals.

20
Financial Reporting and Analysis
Understanding Financial Statements
• Balance Sheet: Assets, liabilities, equity.
• Income Statement: Revenue, expenses, profits.
• Cash Flow Statement: Cash inflows and outflows.

21
Financial Reporting and Analysis
Financial Analysis Techniques
• Ratio analysis (profitability, liquidity, efficiency).
• Trend analysis for forecasting.
• Benchmarking against industry standards.

22
Exit Strategy
What is an Exit Strategy?
• A plan for selling or transitioning a business.
• Ensures maximum returns and minimal disruptions.
• Helps business owners prepare for future financial security.

23
Exit Strategy
Types of Exit Strategies
• Selling the Business: Acquisition, merger, IPO.
• Succession Planning: Passing leadership to a family member or
employee.
• Liquidation: Closing operations and selling assets.

24
 Financial Management
Basics
Understanding Key Financial Concepts: ROI, Break-even Analysis, P&L
Statement, Cash Flow Statement
Basic Financial Terms
• Revenue: Total earnings from sales
• COGS: Direct cost of goods sold
• Gross Profit: Revenue - COGS
• Operating Expenses: Rent, salaries, marketing
• Net Profit: Gross Profit - Operating Expenses
• CapEx vs OpEx: Capital vs Operational spending
• Working Capital: Current Assets - Current Liabilities
Return on Investment (ROI)
• Formula: ROI = (Net Profit / Investment Cost) × 100

• Example:
• - Investment in a pizza oven: ₹1,50,000
• - Annual Net Profit: ₹6,00,000
• - ROI = (6,00,000 / 1,50,000) × 100 = 400%
Break-even Analysis
• Formula: Break-even Point = Fixed Costs / (Selling
Price - Variable Cost)

• Example:
• - Fixed Costs: ₹90,000
• - Selling Price: ₹300
• - Variable Cost: ₹120
• - Break-even Point = 90,000 / (300 - 120) = 500 pizzas
Profit & Loss (P&L) Statement - Overview
• The P&L statement shows a company's revenues, costs, and profits over a
specific period.

• Key Sections:
• - Revenue (Total Sales Income)
• - Cost of Goods Sold (COGS)
• - Gross Profit = Revenue - COGS
• - Operating Expenses (Rent, Salaries, Utilities, Marketing)
• - Operating Profit (EBIT) = Gross Profit - Operating Expenses
• - Interest & Taxes (Loan Payments, Government Taxes)
• - Net Profit = Operating Profit - (Interest + Taxes)
P&L Statement Example: Hot Slice Pizza (June
2024)
• Example of a monthly P&L statement for a pizza shop:

• Revenue: ₹3,00,000
• COGS (Raw Materials – Dough, Cheese, Toppings): ₹1,20,000
• Gross Profit: ₹1,80,000
• Operating Expenses (Rent, Salaries, Utilities, Marketing): ₹90,000
• Operating Profit: ₹90,000
• Interest on Loan: ₹5,000
• Taxes (30% of Operating Profit): ₹25,500
• Net Profit: ₹59,500
Cash Flow Statement - Overview
• The Cash Flow Statement tracks how cash moves in and out of a business.

• Key Sections:
• 1. Operating Activities: Cash earned from daily business (sales, expenses, supplier payments)
• 2. Investing Activities: Cash used to buy/sell assets (equipment, property, stocks)
• 3. Financing Activities: Cash from loans, investments, and debt repayments

• It helps businesses understand if they have enough cash to operate, even if they are profitable.
 Cash Flow Statement Example: Hot Slice Pizza (June 2024)

• Example of a monthly Cash Flow statement for a pizza shop:

• Opening Cash Balance (Start of Month): ₹50,000

• Operating Cash Flow:

• + Cash from Sales (Customer Payments): ₹3,00,000
• - Payments for Ingredients, Rent, Salaries: ₹2,00,000
• Net Cash from Operations: ₹1,00,000

• Investing Cash Flow:

• - Purchased New Oven: ₹50,000
• Net Cash from Investments: ₹-50,000

• Financing Cash Flow:

• + Bank Loan Received: ₹1,00,000
• - Loan Repayment: ₹10,000
• Net Cash from Financing: ₹90,000
P&L vs Cash Flow Statement - Key
Differences
• - P&L shows if a business is profitable; Cash Flow
shows actual money movement.
• - A company can be profitable on P&L but still have
no cash if collections are delayed.
• - Cash Flow helps plan liquidity and working capital,
while P&L helps track profitability.
Key Takeaways
• - The P&L Statement tells if a business is making a profit.
• - The Cash Flow Statement tells if a business has enough money to
operate.
• - ROI helps measure investment profitability.
• - Break-even analysis helps plan pricing and sales targets.
• - A profitable business can fail if it runs out of cash.
• KFC: It’s Finger Lickin’ Good
• NIKE: Just Do It
• APPLE: Think Different
• COCA COLA: Open Happiness
• McDONALD’S: I’m Lovin’ It
• SURF EXCEL: Daag Acche Hain
• AMUL: The Taste of India
• TATA TEA: Jaago Re
• RAYMOND: The Complete Man
• MASTERCARD: There are some things money can’t buy. For everything
else, there’s Mastercard.
INTRODUCTION TO MARKETING MANAGEMENT

Marketing is about identifying and meeting human and social needs.

Marketing is an organizational function and a set of processes for

creating, communicating and delivering value to customers and for
managing customer relationships in ways that benefit the organization
and its stakeholders.

Marketing management is the art and science of choosing target markets

and getting, keeping and growing customers through creating, delivering
and communicating superior customer value.
Selling vs Marketing
Selling Marketing

1. Product enjoys supreme importance 1. Customer enjoys unique importance

2. Emphasis on seller needs 2. Emphasis on the customer needs

3. Company oriented selling effort 3. Market oriented selling effort

4. Goods are already produced and 4. Customer determines production;

then sold at a profit supply adjusted to demand.
5. Selling aims at short term objectives 5. Marketing aims at long term
objectives
6. Top priority is given to sales volume 6. Top priority is given to profitable
rather than profit increasing efforts volume of sales and market share at
fair prices and reasonable risk
 PRODUCT

MARKETING
PROMOTION PRICE
MIX

POSITION
Marketing mix
• Marketing mix is a set of controllable variables that the firm can use to influence
the buyer’s response within a given marketing environment.
• For each market segment and market environment there will be specific and
appropriate marketing mix developed to satisfy anticipated and perceived needs
of an identified market.
• The four elements of marketing mix are:
1. Product : it is the thing which possesses utility
2. Price : competitive pricing
3. Place : distribution activities add value to products
4. Promotion : persuades customer
For product marketing, the marketing mix refers to four broad levels of
marketing decision – product, price, promotion, and place

In services marketing, a modified and expanded marketing mix is used,

typically comprising seven Ps made up of the original 4 Ps of product
marketing plus process, people and physical environment

PRODUCT
A product refers to an item that satisfies the consumer's needs or wants.
Products may be tangible (goods) or intangible (services, ideas or
experiences). Product decisions include the quality, features, benefits,
style, design, branding, packaging, services, warranties,
guarantees, life cycles, investments and returns
PRICE
Price refers to the amount a customer pays for a product. Price may
also refer to the sacrifice consumers are prepared to make to acquire
a product

It refers to the total cost to customer to acquire the product, and may
involve both monetary and psychological costs such as the time and
effort expended in acquisition

Typical marketing decisions include price tactics, price-setting,

allowances (rebates for distributors), discounts (for
customers), payment terms (credit, payment methods)
PLACE
Place is defined as the direct or indirect channels to market,
geographical distribution, territorial coverage, retail outlet, market
location

Place refers either to the physical location where a business carries

out business or the distribution channels used to reach markets.
Place may refer to a retail outlet, but increasingly refers to virtual
stores such as a mail order catalogue, a telephone call centre or a
website

Typical marketing decisions include strategies such as intensive

distribution, selective distribution, franchising, channel
member selection and channel member relationships,
location decisions, inventory, transportation, warehousing
and logistics
PROMOTION
Promotion refers to the marketing communication used to make the
offer known to potential customers and persuade them to
investigate it further.

Typical marketing decisions include appropriate balance of

advertising, PR, direct marketing and sales promotion,
message strategy (what is to be communicated),
channel/media strategy (how to reach the target audience),
message frequency (how often to communicate)
Which brand looks more luxurious?
Whitespace, or the space between elements
on a website, creates a perception of luxury.
This is because it suggests confidence and
avoids overwhelming information.
This is further reinforced by our association
of spaciousness with premium physical
stores (like Rolex) as opposed to crowded
spaces like flea markets.
Whitespace is the digital equivalent of this
physical spaciousness.
• https://us.cowboy.com/

• https://www.sliderrevolution.com/templates/sneaker-woocommerce-slider/

• https://www.apple.com/in/macbook-air/
PEOPLE
People are a defining factor in a service delivery process, since a service is inseparable from the
person providing it. Thus, a restaurant is known as much for its food as for the service
provided by its staff. The same is true of banks and department stores. Consequently,
customer service training for staff has become a top priority for many organizations today

PROCESS
Service process is the way in which a service is delivered to the end customer. The process of
service delivery is crucial since it ensures that the same standard of service is repeatedly
delivered to the customers
For example – Fedex is known for its quick service

PHYSICAL ENVIRONMENT
Since services are intangible in nature most service providers strive to incorporate certain
tangible elements into their offering to enhance customer experience. Thus, there are hair salons
that have well designed waiting areas often with magazines and plush sofas for patrons to read
and relax while they await their turn. Similarly, restaurants invest heavily in their interior design
and decorations to offer a tangible and unique experience to their guests
Marketing / Selling
values/ Emotional
connection
Video campaign : 4.9 billion views
•The "u up?" Message: IKEA Canada, in
collaboration with Rethink, sent out the classic late-
night text "u up?" to social media users, aiming to
engage them at a time when they might be awake
and scrolling.
•Target Audience: The campaign targeted people
who might be struggling to sleep and scrolling on
their phones late at night.
•Promotion: The offer was a 15% discount on
mattresses and sleep products for members of
IKEA's loyalty program, IKEA Family, until February
23rd.
Marketing Segmentation, Targeting and Product
Positioning
Marketing Segmentation
• Dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviours and who might require separate marketing strategies or
mixes.
Market Targeting
• Evaluating each market segment’s attractiveness and selecting one or more segments
to serve.
Product Positioning
• Arranging for a market offering to occupy a clear, distinctive and desirable place
relative to competing products in the minds of target consumers.
Steps in Segmentation, Targeting, and Positioning

6. Develop Marketing
Mix for Each Target Segment Market
5. Develop Positioning Positioning
for Each Target Segment
4. Select Target
Segment(s) Market
3. Develop Measures Targeting
of Segment Attractiveness
2. Develop Profiles
of Resulting Segments
Market Segmentation
1. Identify Bases
for Segmenting the Market
MARKETING SEGMENTATION
● Marketing segmentation is a process of grouping the customers into number of
different divisions on the bases of characteristics.
● It is a customer oriented philosophy. A market consists of identifiable group
within a market.
● Every product is not required for everyone. Therefore marketer must group the
customers on the basis of similar characteristics.

● Eg : Kids form one segment; males can be part of a similar segment while
females form another segment.
● Students belong to a particular segment whereas professionals and office goers
can be kept in one segment.
Common Segmentation Bases

1.Demographic:
Age, gender, income, education
2.Geographic:
Region, climate, urban vs. rural
3.Psychographic:
Lifestyle, personality, values
4.Behavioral:
Usage rate, loyalty, benefits sought

Examples of Segmentation

Horlicks:
• Demographic focus: Women’s Horlicks, Mother’s Horlicks, Junior
Horlicks
LG Air Conditioners:
• Geographic focus: Higher capacity for regions with extreme heat
Mamaearth:
• Psychographic focus: Consumers who want Ayurvedic/natural products
Amazon Prime:
• Behavioral focus: Heavy online shoppers (offering free shipping, faster
delivery)
TARGETING
• Once the marketer creates different segments within the market, he then devises
various marketing strategies and promotional schemes according to the tastes of
the individuals of particular segment. This process is called targeting.
• Once market segments are created, organization then targets them.
• Organizations with the help of various marketing plans and schemes target their
products amongst the various segments.

• Eg. : Nokia offers handsets for almost all the segments. They understand their
target audience well and each of their handsets fulfils the needs and expectations
of the target market.
• Tata Motors launched Tata Nano especially for the lower income group.
Targeting Strategies
1.Undifferentiated (Mass) Marketing
Same product & marketing mix for the entire market
Example: Parle-G biscuits for all income groups
2.Differentiated Marketing
Separate mixes for multiple segments
Example: Maruti Suzuki’s wide range (Alto, Baleno, Ertiga)
3.Concentrated (Niche) Marketing
Focus on one or a few segments
Example: Rolls-Royce
4.Micromarketing
1. Tailored to individual or local customer segments
2. Example: Hyperlocal apps like Dunzo for specific city areas

Indian Examples of Targeting

Tata Motors:
• Tiago (entry-level hatchback), Nexon (urban SUV),
Harrier (premium SUV)
• Each model targets a different segment
Reliance Jio:
• Penetration pricing to attract the mass market,
especially first-time data users
Positioning
• Positioning is the act of designing a company’s offering and image to occupy a
distinctive place in the minds of the target market.
• The goal is to locate the brand in the minds of consumers to maximize the
potential benefit to the firm.
• A good brand positioning helps guide marketing strategy by clarifying the brand’s
essence, identifying the goals it helps the consumer achieve, and showing how it
does so in a unique way.
• Everyone in the organization should understand the brand positioning and use it as
context for making decisions.
Key Elements of Positioning
•Unique Value Proposition:
What sets your product apart?
•Differentiation:
Highlight specific advantages (price, quality, lifestyle, heritage)
•Consistent Messaging:
Reinforce across ads, packaging, social media
•Emotional & Rational Appeals:
Patriotism, tradition, aspiration (emotional) + quality, affordability (rational)
Conceptual / Strategic Positioning
•Here, you decide how you want your brand or product to be perceived by the chosen segment(s).
•This includes identifying the core benefit, key differentiators, and the overall value proposition you will emphasize.
•Example: A car company might decide, “For urban millennials, our electric hatchback will be perceived as the most
eco-friendly, stylish, and tech-savvy option in the market.”

Tactical / Executional Positioning

After defining how you want to be perceived, you must create and fine-tune the 4 Ps (Product, Price, Place, Promotion)
so that this positioning becomes reality in the marketplace.

•If your positioning promises “premium eco-friendliness,” you’ll choose specific features (Product), set a higher-end or
value-driven price, distribute through suitable channels (Place), and communicate green benefits (Promotion).
•Example: Continuing the electric car example:
• Product: Unique styling, premium interior, advanced battery tech, minimal carbon footprint.
• Price: Slightly higher, justified by “green” technology and premium feel.
• Place (Distribution): Sold in upscale showrooms, possibly with dedicated EV test-drive experiences.
• Promotion: Advertising that highlights environmental responsibility, modern design, and government incentives
for EVs.
• Eg : Ray Ban and Police Sunglasses cater to the premium segment while Vintage or Fastrack
sunglasses target the middle income group. Ray Ban sunglasses have no takers amongst the
lower income group
• Garnier offers wide range of merchandise for both men and women
• Each of their brands has been targeted well amongst the specific market segments. (Men,
women, teenagers as well as older generation)
• Men - Sunscreen lotions, Deodorant
• Women - Daily skin care products, hair care products
• Teenagers - Hair colour products, Garnier Light (Fairness cream)
• Older Generation - Cream to fight signs of ageing, wrinkles
• A female would never purchase a sunscreen lotion meant for men and vice a versa. That‘s brand
positioning.
Case study: Comet
Market Segmentation
Demographic:
• Focus on Millennials & Gen Z (urban, style-conscious)
Psychographic:
• Trendsetters valuing storytelling, collectible drops
• Aspirational shoppers wanting premium looks
Behavioral:
• Interested in limited-edition “drop culture”
• Loyal, repeat buyers who engage heavily on social media
Market Targeting
Primary Segment: Mass-premium sneaker fans
• Price range: INR 4k–5k
• High style quotient without luxury brand cost
Why This Works:
• Founders are the target audience (millennial entrepreneurs)
• India’s growing youth fashion market is hungry for unique,
affordable designs
Product Positioning
Positioning Statement:
• “Accessible premium sneakers with a unique story behind
each release”
Value Proposition:
• “10k quality at a 4.3k price”
• Each silhouette tied to nostalgia & creativity (Ludo,
Scribbles, etc.)
Outcome:
• Sneakers become collectible art rather than just footwear
Ps of the Marketing Mix

Product
Focused Silhouettes: Highs, Lows, Aeons, Slides
• Ensures consistent quality & brand recognition
Storytelling: Each drop has a narrative theme
• Builds emotional connection & collector’s appeal
Quality Emphasis: Materials & craftsmanship that rival
higher-priced sneakers
Price
Mid-Range Pricing (~4.3k)
• Positions Comet in the mass premium category
Democratizing Aspiration
• Balances “luxury feel” with accessibility
Long-Term Loyalty
• Fans see real value, leading to repeat
purchases
Place (Distribution)
D2C Online Model
• White space, Lower overhead, better value
• Physical stores which gives emotional connection
Drop Culture
• Limited-edition releases create exclusivity &
anticipation
Digital Community
• Social media & e-commerce platforms central to brand
engagement
Promotion
Story-Driven Campaigns
• Marketing each sneaker’s theme over the product
itself
Social Media Buzz
• Teasers, behind-the-scenes content, influencer
collaborations
Founders as Brand Ambassadors
• Authentic storytelling; they share the same
lifestyle as target customers
TinyOwl’s Delivery Nightmare (FoodTec, Startup, India)

What Happened?
• TinyOwl promised fast food delivery but failed to manage its last-mile
delivery efficiently.
• Riders were not well-trained, delays were common, and customers
canceled orders.
• They expanded to multiple cities too fast, leading to huge operational
costs.

Question:

What mistakes did they make? What should they have done differently?
Grofers’ Stockouts Problem (Grocery Delivery, India)

What Happened?
• Grofers ran out of stock during high demand periods (festivals,
lockdown).
• No proper inventory tracking led to customers ordering items
that weren’t available.
• Competitors (BigBasket, Flipkart Grocery) used warehouse-based
models to fix this issue.

Question:
What mistakes did they make? How could Grofers have prevented
this?
The BigBasket Stockpiling Fail

What Happened?
BigBasket (India’s largest online grocery platform) faced a huge
problem during COVID-19 lockdowns.
Customers rushed to buy essentials, but BigBasket ran out of stock in
many regions.
However, after demand fell, they overstocked warehouses, leading to
food waste & financial loss.

Question:
What mistakes did they make? How could BigBasket have balanced
demand and inventory better?
Keventers – The Milkshake Overload (F&B Chain, India)

What Happened?
• Keventers grew too fast and opened too many outlets without
quality control.
• Some locations ran out of key ingredients, while others had
excess stock.
• Customer complaints increased because of inconsistent taste
& quality.

Question:
What mistakes did they make? How can a food brand maintain
quality while scaling?
Flipkart’s Big Billion Day Meltdown”

What Happened?
Flipkart launched Big Billion Day, a major online sale event.
Due to poor server planning & logistics coordination,
• Website crashed within hours.
• Many products were oversold before inventory updates.
• Customers got fake “Out of Stock” messages for items that were
actually available.

Question:
What mistakes did they make? How could Flipkart have planned its sale
event better?
Indigo Airlines Overbooking Chaos

What Happened?

•Indigo Airlines overbooked flights, expecting last-minute cancellations.

•But many passengers showed up, leading to angry customers & PR
backlash.
•The DGCA fined Indigo.

Question:
What mistakes did Indigo make, and how can airlines avoid this?
Tesla’s Production Bottleneck

What Happened?

•Tesla’s Model 3 production had huge delays in 2018.

•Too much automation slowed production—robots weren’t flexible
enough for quick fixes.
•Elon Musk admitted the mistakes

Question:
What mistakes did they make? How can automation and human labor
work together for better operations?
TinyOwl’s Delivery Nightmare (FoodTec, Startup, India)

What Happened?
• TinyOwl promised fast food delivery but failed to manage its last-
mile delivery efficiently.
• Riders were not well-trained, delays were common, and customers
canceled orders.
• They expanded to multiple cities too fast, leading to huge
operational costs.

Question:
What mistakes did they make? What should they have done differently?
What Went Wrong?
Poor Last-Mile Delivery Planning (Process Optimization & Scheduling)
•Riders were not well-trained, causing delays.
•No route optimization, leading to inefficient deliveries.
•Lack of real-time order tracking, reducing operational control.

Lack of Scalability Planning (Operations Planning & Forecasting)

•Expanded too fast to multiple cities without testing efficiency.

•High operational costs led to rapid cash burn.
•No proper scalability analysis before expansion.

Weak Quality Control in Service Delivery (Customer Satisfaction & Service

Operations)

•High cancellation rates due to late & failed deliveries.

•No standard procedures (SOPs) for delivery partners.
•Customers lost trust due to unreliable service.
What TinyOwl Should Have Done Differently

Improve Delivery Efficiency (Process Optimization & Scheduling)

Implement AI-based route optimization like Zomato & Swiggy.
Introduce real-time GPS tracking for live monitoring.
Use order batching to reduce unnecessary delivery trips.

Scale Smartly Instead of Expanding Too Fast (Operations Planning & Scalability)
Start small, refine processes, then expand.
Conduct pilot testing before launching in new cities.
Use cost vs. revenue analysis to ensure sustainable scaling.

Standardize Training & Service Quality (Quality Control & Customer Satisfaction)
Create SOPs for riders to ensure consistency in deliveries.
Train delivery partners in customer service & efficiency best practices.
Introduce incentive programs for fast & reliable deliveries.

Optimize Inventory & Restaurant Coordination (Supply Chain & Inventory Management)
Use real-time stock tracking to prevent unfulfilled orders.
Partner with multiple restaurants in an area to reduce stockouts.
Apply predictive analytics for better demand forecasting.
Grofers’ Stockouts Problem (Grocery Delivery, India)

What Happened?
• Grofers ran out of stock during high demand periods (festivals,
lockdown).
• No proper inventory tracking led to customers ordering items
that weren’t available.
• Competitors (BigBasket, Flipkart Grocery) used warehouse-based
models to fix this issue.

Question:
What mistakes did they make? How could Grofers have prevented
this?
What Went Wrong?

Poor Inventory Management (Inventory & Supply Chain Management)

•Ran out of stock during high-demand periods (festivals, lockdown).
•No real-time inventory tracking, leading to overselling unavailable items.

Inaccurate Demand Forecasting (Planning & Forecasting)

•Failed to predict surges in demand, leading to stockouts.
•No contingency plan to manage unexpected spikes in orders.

Inefficient Supplier Coordination (Supply Chain Management)

•Weak partnerships with local suppliers caused restocking delays.
•No backup supplier network to manage shortages.

Scalability Issues (Operations Planning & Expansion Strategy)

•Expanded rapidly without improving backend supply chain infrastructure.
•Focused on customer acquisition but failed to scale operations effectively.
What Grofers Should Have Done Differently

Improve Inventory Management

Implement real-time inventory tracking like Amazon.
Synchronize stock levels with live customer orders to avoid overselling.
Use automated restocking alerts to prevent stockouts.

Enhance Demand Forecasting

Utilize AI-based predictive analytics to anticipate demand surges.
Track historical sales data to adjust stock levels before peak seasons.
Conduct stress tests before major shopping events.

Strengthen Supplier Coordination

Build multiple supplier partnerships for faster restocking.
Create regional warehouses to distribute stock efficiently.
Introduce dynamic pricing & supply agreements to ensure steady inventory flow.

Scale Operations Before Expanding

Invest in logistics & fulfillment centers before expanding to new markets.
Optimize warehouse management for faster deliveries.
Test scalability in select regions before nationwide expansion.
The BigBasket Stockpiling Fail

What Happened?
BigBasket (India’s largest online grocery platform) faced a huge
problem during COVID-19 lockdowns.
Customers rushed to buy essentials, but BigBasket ran out of stock in
many regions.
However, after demand fell, they overstocked warehouses, leading to
food waste & financial loss.

Question:
What mistakes did they make? How could BigBasket have balanced
demand and inventory better?
What Went Wrong?

Inefficient Inventory Management (Inventory & Supply Chain Management)

•Overstocked warehouses after demand spikes, leading to waste & financial loss.
•No real-time tracking of perishable vs. non-perishable stock.

Poor Demand Forecasting (Planning & Forecasting)

•Failed to accurately predict post-pandemic demand fluctuations.
•Overstocked items that did not match actual consumer demand trends.

Weak Supplier Coordination (Supply Chain Management)

•Slow response time in adjusting supplier orders based on demand shifts.
•Over-reliance on a few key suppliers, leading to delays in restocking high-
demand items.

Logistics & Distribution Inefficiencies (Process Optimization & Scalability)

•Warehouse congestion caused delays in fulfilling orders.
•Last-mile delivery struggled with stock mismanagement & route inefficiencies.
What BigBasket Should Have Done Differently

Optimize Inventory Management

Implement real-time inventory tracking to monitor stock levels dynamically.
Classify items into perishable vs. non-perishable for better restocking decisions.
Introduce automated inventory replenishment based on demand trends.

Enhance Demand Forecasting

Use AI-driven predictive analytics to track seasonal & crisis-driven demand changes.
Leverage historical sales data to adjust stock levels proactively.
Run demand stress tests before major sales events (festivals, lockdowns).

Improve Supplier Coordination

Establish regional supplier partnerships to ensure quicker restocking.
Implement flexible procurement contracts to avoid overstocking.
Diversify supplier base to prevent dependency on limited sources.

Streamline Logistics & Distribution

Expand micro-warehouses in key demand zones for faster order fulfillment.
Optimize last-mile delivery routes using data-driven logistics planning.
Reduce storage costs by adopting a demand-driven restocking approach.