This part of the plan details the features and benefits of your products and services, their seasonality and life cycle, as well as any future products and services you are planning. It also includes a thorough market analysis, in which you will study your customers, your competition and the market itself. Here you should include a PEST analysis, in which you will consider the impact of various factors upon your business. The factors include combinations of the following, depending upon your business: social, technological, economic, environmental, political, legal, ethical, and demographic.
What do I want to accomplish? : What do I have to work with? ; How have I done in the past? ; What might I do in the future? ; What will I do now? ; How will I do it? ; Is it working?
With unemployment continuing to rise, home prices falling due to a surplus of inventory, and small business lending at a standstill, this recession doesn't seem likely to end soon. The recovery will be slow and Americans will certainly not enjoy the prosperity of a few years ago for a long time to come. It's not just economists who think this way.
Objectives: Add a new product to our line. ; Expand marketing outside of local area. Develop a new customer retention strategy.
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