20 Sep Plan should focus on key elements of marketing and strategy
Plan should focus on key elements of marketing and strategy, such as branding, customer base, existing resources and capabilities, pricing, and other factors that could affect your projects success. Your business plan for Nubian Heritage should highlight the merits of the project based on a detailed internal analysis, showing how the idea fits with the companys mission and vision. Remember that a well-constructed business plan provides concise, accurate information that allows busy executives or investors to quickly grasp the essentials of your idea, the key need or want it addresses, and how you will meet that need or want.
– Executive Summary. Using the tenets in resources and previous work create a executive summary. Response within the executive summary are especially well-suited for target audience, expertly balancing brevity with necessary detail.
– Branding and Idea Context: Corporate mission and how the new product or service aligns with it
Defining features of the product(s) /service(s)
o How the product will be marketed internally and externally
o How the company is differentiating from the competition
o Alignment of pricing with market position and corporate mission
Your substantiated opinion of brand effectiveness
– Defining Product or Service Need: Behavioral and lifestyle demographics of the targeted consumer or buying style of the organizational buyer and why they are a good choice
What unsatisfied need the product/service fulfills
How the customer/buyer seeks information to fill the need
How the product is purchased (characterize the buying situation)
Why your chosen target market is the best choice.
-Pricing
Explain the fixed and variable costs and how these fit with the companys short and long term goals.
Use a narrative with a table to show calculations for cost categories. Provide reasonable estimates for each of the categories. Specific or in-depth financial analysis is not necessary.
Examine competitors pricing and explain the reasoning for differences.
Estimate how much you think the target market is willing to pay for your product/service.
Is this due to preferences for social responsibility, ethical behavior, or other intangibles?
What pricing strategy (skimming, penetration, economy, or premium) is most appropriate and why?
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