Perhaps you are looking to gain market share in a highly saturated industry, or shield off new market entrants. Since an actual product will not be developed at this point, testing must be presented through word or picture descriptions.
The U. The initial marketing strategy will consist of three parts; Part one 1 of the marketing strategy statement will describe the target market, the planned product positioning, sales forecasts, market share, and profit goals for the first three years.
Companies serving the same geographic area, which could be global if you are planning to be a web-based business 3. The development of this product is expected to take a total of seven months.
A product concept is a detailed version of the idea in meaningful consumer terms.
Only when the Company is in the position to directly complete with larger, more financially sound organizations, will it entertain the idea of expanding its distribution channels to include computer retailers, office supply retailers, financial institutions, and economic development organizations.
Part two 2 of the marketing strategy statement will address the product's planned price, distribution, and marketing budget for the first three years. For comparative purposes, consider: 1.
Answers will depend on the product and its uses. The idea concept has already been developed, however, further research is needed to determine its feasibility. IBISWorld Industry Reports are updated one to four times a year, allowing you to take an informed and unbiased view of market trends and significant events in your industry.
This initiative will require five typists for a five month period. Please note, the Company's forecasted financial statements consider this investment, however, the statements do not consider the sale of any future products - and still a profit is projected in each forecasted year.