This week you will be developing your product information and the ability to sell it to others. Here are some items to consider:

Your company$$s products and$/$or services

The problem the product or service solves

Remember, you know about it$,$ but how will you explain it to others? Learn to give a clear and concise picture of your product or service.

Also, develop an industry or market anaysis of your product. The following can serve as a guide for the industry or market analysis:

Perform an External and Internal Environmental Analysis

External environment yields opportunities and threats

Internal environment yields strengths and weaknesses $-$ focus on things that contribute most to market success

Perform a Competitor Analysis

Identify and analyze the three most important direct competitors

Identify other current and potential direct competitors

Identify current and potential indirect competitors

Perform a Market$/$Submarket Analysis $$ current and high potential

Perform a Customer Analysis $$ current and high potential

Provide a Comprehensive Strategy Assessment

Describe each key competitor$$s current positioning$/$marketing strategy

What are each key competitor$$s major sources of competitive advantage

What additional sources of competitive advantage could each develop in the future

Select one competitor for further focus, then provide

New positioning and accompanying new marketing strategies that you recommend for it

Why you recommend these particular strategies

How these strategies would be implemented

How their success should be measured