Total Product Experience. Include the primary, tangible and intangible features as well as the auxiliary dimension of your products/services.
Our coffee shop will not only sell coffee, it will sell espresso drinks, fountain drinks, and water.
Along with the beverages, our shop will also sell muffins. We will have blueberry, chocolate, banana nut,
and strawberry muffins.
Place Strategy. Explains why the business will be located at the given address. Explain the building requirements or needs and what type of
utilities will be needed. Describe the distribution strategy (Pages 209 – 213).
Our business will be located at its given address because the Eiffel Street is a very well known
and populated street. We hope that since it’s a busy street we will get a lot of business and make a
decent profit.
Promotion Strategy. Write promotional goals and explain how you will implement the goals. Describes how you will promote the product prior
to the opening and after the business is established. (Pages 254 – 264, 278 - 267)
Our biggest goal for promoting our product is getting well-known before we open. To do this we
will promote our product through TV commercials, fliers, and ads in magazines.
Promotion Plan. Examples of advertising include: television (press release), radio, newspaper, telephone directory, direct-mail, magazine,
outdoor, transit, billboards, etc. How will you monitor and evaluate the medias effectiveness. (Pages 264 – 271)
We will put monitors on the commercials to see how many people see our commercials. Also we
will have news stands keep track of what they sell so that we can see how many people will see our ads.
Pricing Plan. Describes how you will set prices for the product or service being offered.
Set the pricing objectives first. Examples of pricing objectives include: maximize sales, discourage competition, maintain an image, increase
profits, attract customers, etc.
Secondly, select the pricing strategy. Product pricing strategies include demand-based pricing, cost-based pricing or competition-based pricing.
Service pricing strategies include time-based pricing, bundling pricing or breakeven point pricing. (Pages 230 – 247)