Technology-Based Business Idea Blueprint Format Essay Example

influence market growth such as industry trends, socio-economic trends, government policies, and population shifts.

Competition and Competitive Edges:

1. Conduct an honest assessment of competitors' strengths and weaknesses.

2. Compare competing and substitute products or services based on market share, quality, price, performance, delivery time, service warranties, and other relevant factors.

3. Evaluate the economic benefits that your product or service adds or brings to customers compared to competitors.

4. Discuss the current advantages and disadvantages of existing products or services in relation to meeting customer needs.

Estimated Market Share and Sales:
To estimate the market share you expect to achieve and projected sales figures for your product or service over the next three years:

• Consider the advantages of your product or service
• Analyze the market size and trends
• Evaluate your target customers>
  Clearly state any assumptions made during this estimation process.

  The aim is to provide a marketing strategy that aligns with the company's value chain and distribution channel in the target market.This involves targeting specific customer groups initially for intensive selling efforts and identifying those to target in later selling efforts. The pricing strategy will be discussed and compared to that of major competitors. The prices to be charged for the product or service will also be specified. Various sales tactics will be employed, including using our own sales force, sales representatives, direct mail, or distributors. If the product requires service, warranties, or

training, their importance to customers' purchasing decisions will be indicated. We will also explain how we plan to address any service problems that may arise. In terms of advertising and promotion, strategies and tactics will be explained for raising awareness of the product or service among potential customers. Distribution techniques and channels that will be used to distribute the product or service to customers will also be outlined. Additionally, any warranties provided (such as service or return) and who is responsible for handling them (company service personnel, agencies, dealers and distributors, or return to the factory) should be highlighted.