7. What Pricing mechanisms are being used by other companies within the industry?
This research will allow you to make decisions about your own pricing in the next section, the 4Ps of Marketing.
Questions you should answer within your business plan:
- Description of the current industry
- How can you take advantage of the current industry trends?
- How much growth can you expect?
- Is this a market you want to go into?
- What ideas can you borrow from the competition? (I.E. Supply chains, distribution channels, points of sales)
- What can you do that your competition can't?
- What can you improve upon (e.g., make more profitable, simplify, streamline, just-in-time, reduce waste)?