Provide a description of the product or service offered to the consumer, especially emphasizing the benefits for existing and potential customers. Provide solid arguments in favor of why your product completely solves the problems of customers.
This is what should be here:
Description of the product or service. List the benefits from the customer's point of view, how exactly the product will cover their needs, plus reveal how it is better than its competitors at the existing stage of development, i.e. in the form of an idea or prototype.
Provide information about the product's life cycle, i.e. its viability. Here you should take into account all the factors on which the cycle may depend in the future.
Ownership of intellectual stockholder database property. Here, provide information about copyrights, existing patents. It is also appropriate to place information here about what should be considered a commercial secret.
Also provide a general description of the research and development activities already carried out in the company or planned. The expected results of this work.
Partnerships
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Marketing measures and sales
The marketing strategy should be described here.
The section consists of four important blocks:
Market entry strategy.
A development strategy that includes several areas. Internal development: recruiting new specialists, acquiring other businesses, promoting a franchise. Horizontal integration: expansion by purchasing another company in the same field of activity. Vertical integration: when one organization manages separate areas of production or distribution.
Sales strategy: own sales department, attracted distributors, retailers.
Advertising strategy. How will you convey information about the product to the audience? The most effective approach is to combine advertising, promotion, printed materials (catalogs, leaflets, brochures, etc.), and involve the media.
So, the marketing strategy is ready, what to write next in the business plan? Now we need to highlight the comprehensive approach to the sales strategy, namely its two components:
Work of the sales department: will you have one at all, and if so, will it use internal resources or rely entirely on contractors? How many salespeople will work in it? How do you plan to attract specialists? What training and motivation systems will be used for personnel?
Sales strategy. Here you need to write down specific actions, expected results, plans for the future. Make a list of contacts of potential buyers, arranging them in order of priority. Calculate how many cold calls you need to make in a specific time period. What is the average number of calls for one deal? Calculate the average deal amount, the average income of one manager.