development of marketing strategies for the product kisan
TRANSCRIPT
Development of Marketing Strategies for the Product- “Kisan Raja”
Company’s overviewVinfinet Technologies Pvt. Ltd. Founder: Vijay Bhaskar, alumni of
Indian Institute Of Technology, Madras.
Its aim is to provides technological solutions to the farmers.
Among top two innovations in Samsung Innovation Quotient
About the productProduct name: Kisan Raja -GSM based
remote motor controllerFeatures: Operates motor pump with the help of
mobile or landline phone.IVRS in regional languages.Acknowledgement of power
availabilitySafety a) Theft detection
b) High voltage fluctuation
Objective of the studyTo Develop a Marketing Strategy
for the product -“Kisan Raja”Identify the Potential Customer
(nearby Bangalore, Karnataka).Distribution ChannelPositioning of ProductPromotional StrategiesPricing Strategies
Research Methodology1) Research Design: Descriptive 2) Data Source:a) Primary Data: Farmers Retailersb) Secondary: Company data(provided by the company) Internet3) Area of study: Bangalore rural
Chikballapur, Mandya, Tumkur
Sampling PlanUniverse: Karnataka
Sampling unit: Farmers , Retailers
Sample size:
Farmers:200
Retailers: 54
Sampling technique- Convenient sampling
Result and DiscussionIdentify the potential Customers
for the product (nearby Bangalore, Karnataka).
60%30%
10%
Land Holding
Large FarmersMedium FarmersSmall Farmers
Potential Customer
90%
10%
Pump for Irrigation
YesNo
Problems In irrigation Physical effort and inconvenience
Frequent damage of irrigation equipment
Theft of irrigation equipment
Wastage of water and electricity
Substitute product in the marketAuto starters: Only starts the motor pump
automatically.
Distribution Strategies1. Channel - Selective
DistributionCompany
Dealer
Farmers
Market place for a farmer- Taluk
Willingness of retailers to take dealership
60%
40%
Willingness of dealer
Yes No
PositioningOperational ExcellenceProduct LeadershipCustomer Intimacy
25%
20%
55%
Operational ExecellenceProduct lead-ershipCustomers In-timacy
PromotionMedium of awareness
40%
25%
20%
15%Local leader/ Progressive farmerKVKAgriculture magzinesMultimedia
PromotionSMS Campaign Voice Campaign (IVRS)Field demonstration
KVK, Bangalore Farmers field
Awareness through MultimediaNewspaper,
Magazines(Raitamitra, Krishi Mitra)
Advertisements in bus
Pricing Strategy1. Cost incurred by the farmers
Benefit Element Benefit (Rs)Electricity Charges NIL under power subsidyFuel Costs1 Rs.2,000/-Labour Cost2 Rs.12,000/-Fertilizer runoff Rs.1,000/-Motor Repair3 Rs.5,000/-Total Cost per annum Rs.20,000
1 Fuel Costs: considering an average of 5km two-way, 20 times in a month. 2Labour costs: A minimum of 1000 per month considering 100 Rs/day, 10 to 15 times a month. 3Motor Repair - Repair due to motor running while water was not available, assuming break down of at least twice in a year
2. Price of Product:
3. Cost Benefit to Farmers:Rs 14,000 per annum
Elements (Rs)Price of product 5500Maintenance cost 500 per annumAnnual Cost 6000
List of CompetitorsAuto Starters: These devices start the
motor when power is available and keep the motor running all the time, as long as power is available.
Nano Ganesh from Ossian Agro Automation Micro Jaikisan from Micro Technologies. Real Mobile Starter Controller from Real
Tech Systems. Kyatee Mobile Starter from Khyatee. GSM based Smart Pump Controller from
ASquareESystems.
Competitive Advantage Product Leadership
Highly innovative Superior to any existing technologies in the
market on several parameters. Price Leadership
Price lower than Rs.6,000/- there by securing the ‘More Features at Lower Price’ advantage.
Business Model replication across the Geographies Multiple Local Language IVRS menu
offered
suggestionsLarge farmers and medium
farmers using motor pump are our potential customers.
One dealer per Taluk.Providing a local technician for
after sales service.Positioning the product as a best
solution to farmers .Competitive advantage as no
such product is available in karnataka
Refrenceshttps://www.raitamitra.kar.nic.in/Kotler, Philip, Positioning,
Consumer buying process, Promotional strategies
(http://www.nanoganesh.com)(http://www.a2esystems.com)www.karntaka.gov.in