Business Plan Part Five: Marketing Research and Evaluation.
Business Plan Part Five: Marketing Research and Evaluation.
A document in which you present evidence that a market exists for your business. In other words, you must convince investors that a large enough market exists for your product or service and that your business can be competitive in that market.
Identify the target market of your business and state the size in dollars and units. How will you remain competitive? How will customers’ needs be assessed over time? Who are the main competitors of your business, and what are their strengths and weaknesses (refer to Milestone Two for this information)? What percentage of market share do the competitors have, and what percentage can you expect to get?
Address pricing policy and how the business’s prices will penetrate the market, maintain its market position, and allow the business to earn a profit.
Address promotion strategy, distribution strategy, and service policies.
Milestone Five should be approximately 800–1000 words in length.
my_business_idea___pastry_business
Answer preview to Business Plan Part Five: Marketing Research and Evaluation.
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