Business Plan Milestone Five in Marketing Research

Business Plan Milestone Five in Marketing Research and Evaluation Milestone Five: Marketing Research and Evaluation

Business Plan Milestone Five in Marketing Research
Business Plan Milestone Five in Marketing Research

In 5-3 Final Project: Business Plan Milestone Five: Marketing Research and Evaluation, you will submit Milestone Five. The format should be:

Business Plan Milestone Five in Marketing Research

A document in which you present evidence that a market exists for your business. In other words, you must convince investors that a large enough market exists for your product or service and that your business can be competitive in that market.

Identify the target market of your business and state the size in dollars and units. How will you remain competitive? How will customers’ needs be assessed over time? Who are the main competitors of your business, and what are their strengths and weaknesses (refer to Milestone Two for this information)? What percentage of market share do the competitors have, and what percentage can you expect to get?

Address pricing policy and how the business’s prices will penetrate the market, maintain its market position, and allow the business to earn a profit.

Business Plan Milestone Five in Marketing Research

Address promotion strategy, distribution strategy, and service policies.

Milestone Five should be approximately 800–1000 words in length.

This milestone is graded separately. Use the Final Project Rubric to structure feedback.

Business Plan Milestone Five in Marketing Research Instructions

In Milestone Five, Marketing Research and Evaluation, you will be presenting evidence that a market exists for your business.

Your goal will be to convince investors that a large enough market exists for your product or service and that you can be competitive in that market.

Identify your target market and state the size in dollars and units. How will you remain competitive? How will you assess your customers’ needs over time? Who are your competitors, and what are their strengths and weaknesses (you can refer to Milestone Two for this information)? What percentage of market share do your competitors have, and what percentage can you expect to get?

You will also want to address your pricing policy and how your price will penetrate the market, maintain your market position, and allow you to earn a profit.

Address your promotion strategy which should include the use of social media, your distribution strategy, and your service policies.

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