Analysis: Current Product(s)

May be able to skip this section if plan is for a new product and no related products exist.
Provide detailed analysis of the company’s product(s). (Length: 1-2 pages).

Describe the company’s current product(s) offerings in terms of:

1. Product Attributes

  • Describe the main product features, major benefits received by those using the product, current branding strategies, etc.

2. Pricing

  • Describe pricing used at all distribution levels such as pricing to final users and to distributors, incentives offered, discounts, etc.

3. Distribution

  • Describe how the product is made accessible to final users including channels used, major benefits received by distributors, how product is shipped, process for handling orders, etc.

4. Promotion

  • Describe promotional programs and strategies in terms of advertising, sales promotion, personal selling and public relations, how product is currently positioned in the market, etc.

5. Services Offered

  • Describe support services provided to final users and distributors before, during and after the sale

Comments  

 
#3 AB 2012-10-11 20:33
The purpose of the Analysis is to put all the facts before the person or group making the plan, so that everything is clear and the plan takes everything into it. Obviously, you are not competing with your own product so you need not pursue that aspect. But maybe your competitor's have similar products or they don't have but are going to launch one after your product. These should be considered.
 
 
#2 Paul Christ 2010-02-11 22:09
It kind of depends on whether this new product is similar to the old product. If it is totally new and not similar then you could probably skip this section. However, if it is replacing the existing product but is similar (e.g., an improvement over the existing product in terms of new features) then you should include this section since this section is a discussion of where you currently are. Remember this section deals with your current situation before the introduction of the new product.
 
 
#1 Stephane 2010-02-10 16:19
I've got a question regarding this section. I guess I do not understand it. We are coming up with a new product that would be a successor to an existing product that we currently sell. Is this section implying that we describe that product or compare it to the new one?? I don't see why we would concentrate on other products other than the new product. Any tips or insight would be much appreciated! T hanks
 

Add comment

 

Security code
In the space below enter the code found in the above box.
Click for New Code

Site Info

More Info