Chapter 4 – The product and business plan

Publisher Summary This chapter discusses the organization of a business plan. A business plan is a culmination of all of the data, conclusions, projections, and creativity of the business development team's vision for the new product. The chapter discusses a format for the business plan. The importance of timeliness and integration is stressed, and the relative standing of the company (in terms of where the market is headed) is also presented. How to sell the program to management by modifying the operations to accommodate the plan is covered. Internal issues such as management focus and organizational changes are included as part of the business plan. The chapter discusses pricing and the philosophy and justification for pricing, all for the purpose of constructing a workable business plan. Importance of the accounting function is discussed to serve as a background in preparing the business plan. Market testing and technological fit are also included to provide continuity to the business and product plan, and incorporating the customer as part of the plan.