Step$-$by$-$step guide:

Select a new product that you think has promising prospects in the market. This could be a product that you have carefully considered, or a product that has recently entered the market. Perform a comprehensive market research to gain a deep understanding of your product's target market, including their needs, wants, and the competitive landscape. Utilize secondary sources like market reports and industry publications, along with primary sources such as surveys and focus groups, to collect data. Using your research findings, create a precise and succinct positioning statement that outlines the target market, the advantages provided by your product, and its unique qualities compared to competitors.

When preparing the plan, it is important to take into account the most frequently asked questions from lenders and prospective investors.

$1.$ How can we determine the validity of the marketing or business idea?

$2.$ Is there a specific aspect that sets it apart from other alternatives and rivals?

$3.$ Does a viable market exist for the offering?

$4.$ Can we trust the accuracy of the financial projections?

$5.$ Can the key management and technical personnel demonstrate their capabilities?

$6.$ Is the plan sufficiently clear in outlining the process for investors to recoup their investment and generate a return?

Here are some guidelines to consider when writing marketing$/$business plans:

$$ Utilize a straightforward, formal writing approach.

$$ Emphasize the importance of maintaining a positive and specific approach.

$$ Steer clear of using exaggerated language.

$$ Utilize numerical data to enhance the impact.

$$ Utilize bullet points to highlight important information.

Organize your content using A$-$level and B$-$level headings.

$$ Incorporate visuals such as photos, illustrations, graphs, and charts.

$$ Pay close attention to layout, design, and presentation.

Ensure that your marketing plan is presented in a meticulous and structured manner, complete with an executive summary, table of contents, and all pertinent charts and tables.