Month: February 2022

In order to achieve the targeted sales, the way you price your products and/or services matter a lot. Examples of overall marketing strategies include: Market penetration Product development strategy When developing pricing strategy, you have to consider the following factors:- Read More …

A very important part of your market research is the investigation of your potential competitors. When doing this investigation, don’t think of your competitors as ‘enemies’, consider them as a source of information. Look at what your would be competitors Read More …

Market area size and trend Market area : Specify your intended market. In what geographical area is your market to be located? Market size: Once you have identified your market, determine the size of that market. This may be done Read More …

The marketing plan is the second stage of preparing your business plan. This phase is highly critical because it provides the basis for the organizational, operational and financial plans. You will need to conduct a market research i.e., an in-depth Read More …

Describe the products of service of your business: List and describe the products or services you sell. For each business offering, cover the main points, including what the product or service is, how much it costs, what sorts of customers Read More …

Try to find out what is expected to happen within the industry in the future. Are the sales, profits and competitors expected to increase, decrease or stabilize? Show figures. What new product or new production methods are expected? Will the Read More …