Products & Services
Session 8-9
J0704-Business Plan
Figure out what to sell
The first mark of good
business is the ability to
deliver…its product or
service on time and in the
condition which the client
was led to expect –
Michael J. Ferguson
J0704-Business Plan
The Elements of an Products or
Services
•Products or services summary
•Products or service description
•Products or service positioning
•Comparison with the competition
•Technology and intellectual protection
•Future Products or services
J0704-Business Plan
Products or services Summary
Write this one after you have finished the
section, so you can emphasized the
important result of each segment and
present them in order
– Include the best unique features of products
or services description
– Positioning in the marketplace
– The advantages of the products or services
over the competitor
J0704-Business Plan
Products or Services Description
•
If you include any
reproduced sales
brochure or menus in the
business plan exhibits,
mention their
significance here,
regarding your product or
service line, and direct
the reviewers’ attention
to their location in your
exhibits
J0704-Business Plan
Products or service positioning
•
Brief statement of how your products or
services will be positioned in the
marketplace. Will they be:
–
–
–
–
The lowest price
Most advanced
Flexible
Etc.
J0704-Business Plan
Comparison with the competition
•
In your description, answer this question:
–
–
•
Why will people buy your products or services
instead of others ?
Is it because of better features, price, quality,
service, a combination of these or some other
reason ?
Compare your products or services with the
competitor in term of design, technology, cost,
user-friendliness, quality, packaging and other
J0704-Business Plan
Technology and Intellectual
protection
• If your products or
services are based on
a special technology,
include a segment
describing this.
• If you have
intellectual protection,
list it and give a
complete explanation.
J0704-Business Plan
Future products or services
• The purpose of R&D is to stay on top of
your market and adapt your products or
services to changes in the market, either
with the new products or service or with
new features such as improvements,
upgrades and add-ons
• Describe your long-strategy for creating,
developing, or handling future products or
services
J0704-Business Plan