If your business is product-focused, you will want to spend more time describing those products. Interaction Examples When you shop for a new car, you can see the body lines, touch the leather and test drive the vehicle to gauge how it handles the road and how comfortable you feel behind the wheel.
An example is streaming services offered by entertainment companies, such as Netflix, which are reducing demand for DVDs and even cable- or satellite-television packages.
The more you know about what actually motivates them to purchase, the more precise your marketing message can be. Lifecycle Where are you currently with this product or service? The following is a breakdown of anticipated rental price points, per day and per week: Fulfillment How will you fill orders or deliver the service?
And if so, how? Do you purchase products from suppliers or wholesalers? Your choices include print, radio and TV advertising, online advertising, direct mail, your website or blog, attending trade shows and establishing a sales force to directly call upon potential customers.
Will your operating costs be low enough to allow a reasonable profit margin? How do you write the Products and Services section of a business plan? A car repair shop owner may see that his loyal, repeat customers are those who seek to take extra good care of their vehicles. Since the typical customer seeks medium-quality equipment and excellent services at competitive prices, we will focus on providing brands like Trek bikes, Shimano footwear, and Giro helmets.
A golf course for example could position itself as having the best practice and training facility in the region, the facility that caters to golfers who are truly serious about improving their games.
As the products become more popular and the brand name better known, the owner could begin wholesaling the products to specialty food stores or upscale grocery markets. Just how knowledgeable is the inspector in regard to roofing, structural matters and water damage, for starters? Many fresh foods perish within days.
Patents, copyrights, and trademarks you own or have applied for should also be listed in this section. Marketing Message In your business plan you describe why the benefits of your products and services are powerful enough to give you a competitive advantage.
The digital-camera era has turned film sales and darkroom developing into niche businesses.
The Product or Service Description What is your product or service, and how does it work? Distribution Channels Describe how you will get your products or services in front of target customers. Think of how cassette tapes replaced vinyl records, compact discs replaced cassettes and DVDs replaced the video home system VHS.
These manufacturers have a widespread reputation as mid- to high-level quality, unlike equipment typically found in the rental market. Is it in the idea stage or do you have a prototype? The Products and Services section for our cycling rental business could start something like this: FedEx had to define the opportunity for a new, large-scale service and justify why customers needed--and would actually use--that service.
How will you acquire your products? So is describing why your products and services are needed if no market currently exists.
If Blue Mountain Cycling Rentals plans to market itself as a provider of high-end bikes, describing those bikes--and the sources for those bikes--is important, since "high-end cycling rentals" is intended to be a market differentiation.An example of a service business would be a computer and phone repair store.
This is a service business because it provides a service, not a tangible product. However, the store can provide replacement parts and accessories that fall under product categories, they are still considered service businesses because they primarily sell a service to.
How to Write a Great Business Plan: Products and Services. In the cycling rental business example we've been using, products and services could be a relatively simple section to complete or it. New World Deli deli restaurant business plan products and services.
New World Deli will be an upscale delicatessen focusing on sandwiches, salads, and Pacific Northwest cuisine/5(74). The product and services section of your business plan is more than just a list of what your business is going to provide.
Especially if you plan to use your business plan to get funding or find partners, your products, and services section needs to showcase the quality, value, and benefits your business offers. Business Plan Section 4: Products and Services This is the part of your business plan where you will describe the specific products or services you’re going to offer.
You’ll fully explain the concept for your business, along with all aspects of purchasing, manufacturing, packaging, and distribution.
The strategy element of the business plan describes how your products or services will be sold, the target markets you will sell to, the marketing message you intend to use to convince customers.Download