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Targets and forecasting

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Reference no: EM133162839

Part II: Targets and Forecasting

This is part two of your marketing plan, this part will focus on the target market, market trends as well as how you will position your product for the market.

• Target Markets - detailed description of your target market(s)

o Market Demographics - age, gender, etc. This must be specific and backed by credible data sources. It must size the market, numerically.

• Buying Cycle - who is your buyer and how do they buy?

• Market Analysis

o Market Needs - what does the market - your target - need and how does your product meet this need?

o Market Trends - what trends are influencing your product?

• Market Forecast

o Market Growth - what is the "upside" of your product opportunity? Numeric estimates, backed by credible sources.

• Knowing your competitors and your target, create a value proposition for your product? Specify benefits as well as features. Some of you may be able to include a perceptual map to show where you are positioning yourself.

• Key product/service branding statement and critical attributes (what will it do?)

• Where are you in the product lifecycle progression? Where do you anticipate being in 2-3 years.

Reference no: EM133162839

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