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In your business plan you will describe the different types of products or services offered and provide a brief description of each, including costs and patent or copyright information.However, before you can discuss your products and services, you must clearly explain the product line or list of services.The shoe giant Zappos has built its reputation by providing excellent customer service. When consumers know they can get a product repaired under a service guarantee or return a faulty product for a refund, they’re often more likely to buy it over otherwise superior competitors offering less powerful warranties.
For example, the items sold in a bakery or furniture store are typically straightforward.
However, numerous technology-based businesses, consulting firms, and health-related services deal in highly specialized areas.
For assistance in preparing or refining youir business plan, you can check the All in-depth guide “Tools that Can Help You Write Your Business Plan,” which includes templates, PC-based “wizards,” and other helpful software.
, the staff of Entrepreneur Media offer an in-depth understanding of what’s essential to any business plan, what’s appropriate for your venture, and what it takes to ensure success.
The product description section is where you do that.
In this section, you'll describe your product in terms of several characteristics, including cost, features, distribution, target market, competition and production concerns.
Every industry has its share of products that most people know very little about.
While you do not want to appear condescending, do not assume that everyone reading your business plan is familiar with the terminology for your industry.
JJB caters to all of its customers by providing each customer coffee and espresso products made to suit the customer, down to the smallest detail.
The bakery provides freshly prepared bakery and pastry products at all times during business operations.