The corporate community makes use of different terms in talking about business planning – business strategy, sales planning, marketing strategy, business plans, and marketing schemes. But as different as these terms sound or spell, they cover same principles — how to improve sales and getting the company “out there”. Efficient business plans and marketing schemes need to be strong, cost-effective, and most of all, realistic. As such, an efficient business plan considers several important factors: products, services, market size, competitor activity, marketing, and production costs.
Since a business’s’ selling point and source of income are the kind of products and service it offers, it is logical to pay these much attention. Product and service evaluation should be part of all business plans and marketing schemes a company formulates. Product evaluation involves product testing, improving quality control, product design, and marketing. In product testing and quality control, it is important to ensure that the company’s product is all it claims to be. For example, if company A wants to claim that its product washes off stains in...
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