1. Marketing Strategy [Completed by [group member’s name]]
  • Outline the marketing strategy for the business using the four main components.

Product/Service Strategy

  • Describe the strategic choices you will make relevant to your product or service. These strategies might describe elements like the planned quality levels relative to competing products and your plans for further product development. 

Pricing Strategy

  • Describe your pricing strategy such as cost-plus pricing, penetration pricing, premium pricing, skimming etc. Be sure to explain why this is the best option for this business.

Distribution Strategy

  • Explain how the business will distribute their product or service. 

A mistake that some service-based business plan writers make is to simply state that customers will go their location to purchase the product. Use this section to describe the unique shopping experiences the customers will have or other reasons why they should want to go to this location.

Promotion Strategy

  • Describe the strategic choices you will make about how you will promote your product or service.

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