Use this section of your marketing plan to fully describe:
- your product and its purpose
- its features
- its current pricing structure
- its current distribution channels
- its positioning within the market
- its current promotions and advertising
- its current packaging
Make sure the information is specific and accurate. If your product is new, simply describe your product and its features... But wait!
This section of your marketing plan should be a piece of cake. You know your product, right? You know its features, right? Do you know the benefits your customers get from your product, though? You had better, because that's what's going to sell it.
This has probably been hammered into your head if you've been in marketing or advertising, but what does it mean? Don't your customers make the connection that if the box says "batteries included" that means they won't have to take those extra steps of buying and installing them? Sure, they might, but if you say "Batteries Included: Ready to use right out of the box!" you'll get their attention more quickly and perhaps give your product the slight edge that will convince the customer to pick up your product rather than your competition's.
In a nutshell, you have to make very clear the end result that is ultimately the reason why someone should purchase your product. Connect the dots for them, and you'll have a much better chance of having a successful product. Add to the list above a big "benefits" category, especially if your product is new.
When you get to Strategies and Action Plan, use the benefits information you come up with here to make your creative efforts and positioning work for you.