1. Marketing Plan.
This is a critical section that should clearly specify the business’s marketing goals,
how are they to be achieved and who will have the responsibility for achieving them.
Attention should be paid to the 4 Ps, namely product, price, place and promotion.
Make sure to describe these in detail.
This section also focuses on customers, industry and competition:
Customers: Discuss who the customers of the product or the service are. Briefly
describe the basis of the purchase decisions, for example price, quality, service,
personal contacts or political pressure.
Completion: Make a realistic assessment of the strengths and weaknesses of
competitive products and services, and name the businesses that supply them.
Compare the competing products and services on the basis of price, performance,
service, warranties and other pertinent features.
Operation Plan.
This section focuses on facilities, manufacturing capability and equipment. If the
business is in manufacturing, it will help to include floor plans as well as future plans.
The length of this section will depend on whether it is a service or product business.
If the latter, it will depend on how technical the product is. The following aspects
need attention:
Capacity: capacity includes, among other things; how many products can be
produced by the business.
Scheduling of production: scheduling refers to the timing and steps that will be taken
to bring the business up to full speed.
Quality management: this concerns what the business will do to ensure quality and
control of inventory.