SLIM steps in to assist new inventors

Sri Lanka Institute of Marketing (SLIM) and Sri Lanka Inventors’ Association (SLIA) have recently signed a Memorandum of Understanding (MOU) to provide a thorough knowledge on marketing to up and coming inventors who have shown great skill in turning out innovative products.

“Lack of marketing skills and knowledge have affected the success of many new inventors and SLIM is confident of imparting knowledge on these thereby giving a helping hand to the inventors towards making their ventures successful,” SLIM President Thushara Perera said.

SLIM and SLIA will be hosting a Inventors’ Forum as an initial step to impart knowledge to the inventors on a number of areas, this has been planned by SLIM for the inventors across the country on Friday, 24 February at SLIM Home Borella.

The Forum starts at 9 am and will go on till 4.30p.m. The significance of patenting of the inventions and the legal implications on obtaining the patents will be discussed at the workshop before proceeding to the marketing aspects that are relevant to inventors.

SLIM has identified the need to put the participants at the workshop through the basics of marketing with the accent on areas which are of particular interest to them.  The areas to be covered will include   the need to indentify markets for their inventions and a study on the behaviour patterns and decision making process on the part of the buyers. Pricing and creating value propositions will be another key area. So will be the importance of packaging.

They will also be trained in negotiating skills with prospective buyers since it is considered a critical area.

With new channels like the web sites and e-bay opening up in creating awareness for products, the participants will be made familiar with such avenues to market their products.  Practical sessions with case studies will also form part of the workshop agenda.

In the long term SLIM will explore avenues to find buyers and corporate dealers for marketable inventions from Sri Lanka.

Expressing his appreciation in SLIM taking the initiative in a project of this nature SLIA Chairman Deepal Sooriyaarachchi said that the signing of the MOU marked a new relationship between the national body of marketers and an organisation that can contribute much towards the country’s economic prosperity.