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Transcript
Lean Marketing Plan: Marketing Opportunity Summary Your group’s Marketing Opportunity will be summarized in one or two paragraphs. Your marketing opportunity is where your product/service “fits” in the market place. What is included in your Marketing Opportunity summary will depend on what elements you think are most important. However, you need to consider the five elements that determine what determines what a good marketing opportunity outlined in chapter 2 of Marketing for Entrepreneurs. You should consider: 1. How your product or service offers value to your consumers (given holes in the competitive landscape you have identified and consumer demand). 2. The profit potential of your idea. How much will everything cost to start the venture? What level of sales are a reasonable expectation? When do you expect to break even? 3. Why is the fit between your entrepreneurial team and your product or service good? What skills, abilities, etc. do you have to pursue this opportunity? 4. How sustainable is your opportunity? Why is it not a “fad”? 5. Will your opportunity be able to obtain financing? Why and how?
