Target market - Describe characteristics, purchasing habits, needs, wants and trends of your potential customers. The competition - Analyze the direct and indirect competition in terms of location, market, business history and service or product line. Explain how you will compete. Distribution - Explain the manner in which products and service will be made available to the customer. Pricing - The price of your product should be acceptable to the customer and provide profit to the business.
Pricing is the result of market research.
Explain how you arrived at your pricing structure. Packaging - Decisions about packaging should be based on your marketing research. Product design, distribution system and costs all affect packaging. The methods and tools that you use to attract the attention of potential customers will have direct impact on your marketing success. Creativity and customer knowledge are important to determining marketing tools.