The most important part of business plan is market analysis section. It contains information about your target market, products or services, competitors, pricing strategy, sales/distribution plan and advertising and promotional plan. This part also determines whether the market is sufficient enough to support the business or not.
It is necessary to review your market analysis section at least every year. Thorough research is very important before writing a professional business plan. You must be well-aware about every part or every question you are including in your marketing analysis section.
Products and/or services:
This part of marketing analysis contains the information about your product and services: How unique is your product from your competitors, how your product and services will give benefit to your customers and also the pricing strategy of your product.... read more