Part I: Product/service, the Industry, and the Competition
Over the next several weeks you will be developing a marketing plan for your product/service. This will be Part 1 of that plan and will look at the product/service, the industry and the competition.
· Mission – your company and/or product/service mission.
· Product Value Proposition – describe the core value of your product/service; typically, this is your competitive advantage.
· Product Description – a formal description of what your product/service does.
· Marketing plan objectives – what are the SMART goals for this plan, including financial objectives and/or market share goals.
· Market Summary
· Market Analysis
· SWOT – a table describing each, in detail.
· PEST – a table describing each, in detail.
· Competitive Analysis – a table describing each, in detail. This should be real competitors and/or technologies that compete even if they aren’t the same product as yours. For example, an indirect, but important competitor for Apple Watch is the status quo of using a traditional Smart Phone.
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