Lesson 3: Business Plan Contents – Target Customers, Value Proposition, Market, and Product Offering

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9 Terms

1

Target Customers

A target market refers to a well-defined customer segment that a business aims to serve within its market.

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2

Value Proposition

It refers to the benefits and worth that a business promises to deliver to its customers if they choose its product or service.

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3

Description

A brief explanation of the products or services.

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4

Pricing

Proposed prices for products or services.

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5

Differentiation

How the product/service differs from competitors.

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6

Marketing Strategies

Plans for promotion and distribution.

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7

Order Fulfillment

The process of handling customer orders.

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8

Legal Considerations

Intellectual property, trademarks, or necessary permits.

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9

Future Offerings

Plans for new products or services.

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