Define your target market. Include such characteristics as demographics, psychographics, behavior, age, geographics, interests, and location.
Product differentiation is a marketing strategy designed to distinguish a company's products or services from the competition. Successful product differentiation involves identifying and communicating the unique qualities of a product or company while highlighting the distinct differences between that product or company and its competitors. Product differentiation goes hand in hand with developing a strong value proposition so that a product or service is attractive to a Target Market or audience.
Using the definition above, list all your points of differentiation and why your customers will think each is different from your competition.
A short, clear statement (one to three sentences) that all customers will understand, explaining the solution or results they will receive when they purchase your product or service.
Using the definition above, write your Value Proposition.
List all expenses that will be incurred prior to the first month of operation. These expenses could include website design, printing, equipment, legal, office supplies, rent, telephone, etc. If more Expense categories are needed, use Number 10. Expense item to combine all other initial expenses and detail those expenses in the box below.
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For example, is it a one-time purchase, membership, service contract, etc?
