Step 1
Know Your Market
A target market is a group of customers within the serviceable available market that a business has decided to aim its marketing efforts towards.
Step 2
Know Your Competition
Competition is often considered to be the opposite of cooperation, however in the real world, mixtures of cooperation and competition are the norm.
Step 3
Be Different
In economics and marketing, product differentiation (or simply differentiation) is the process of distinguishing a product or service from others, to make it more attractive to a particular target market
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Step 4
Pricing Techniques
A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the market overall.
Step 5
Paralysis By Analysis
Paralysis by analysis is the state of over-analyzing (or over-thinking) a situation so that a decision or action is never taken, in effect paralyzing the outcome.
Step 6
The Future
A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.
