Describe each of the following. Now that you have done the above research, the written statements will solidify all of the ideas that you have and help you to see what ideas are the best options.
1. Product- What is the product? Describe all of the attributes of the product or service. Is it a service or tangible good? What is the product life cycle?
2. Price- How will you determine price? What options will work best for your product? How will your consumers & competitors react to your pricing? Will you have price promotions? (see promotions)
3. Place- What are the locations you will use to make your product available?
4. Promotion- How are you going to promote your product or service? What promotional ideas work with the market you have selected? This is the reason for the whole report.
|Newspaper||Write articles for the local paper|
|Write a newsletter||Mailing list for customers||Talk to people|
|Contests||Sponsor little league teams||Website|
|Radio||Yellow Pages advertising||Trade fairs|
|Mass Mailings||Donate to local causes||Television|
|Cold calling||Start a conference||Booths at Fairs|
|Magazine||Giveaways- tee shirts, hats, buttons, pens||Back of receipt|
|Sandwich board||Give away samples or trial version||Parties|
|Business Cards||Pricing Promotion such as Coupons||Grand Openings|
|Partnerships||Join Chamber of Commerce||Write a book|
|Temporary Tattoos||Join Trade Services||Word of Mouth|
Questions you should answer within your business plan: