Analyzing the Market: You cannot afford to operate on the basis of assumptions about the market and customers. You need to conduct a thorough analysis of the prevailing market environments, your strengths & weaknesses and the existing competition. Study your target customers and get in_depth knowledge of their needs and preferences. Based on this, you can determine your marketing objectives and position your product suitably.
You will need to develop your pricing strategies for all of your products and services. Do you want to be higher or lower versus competitors? Do you plan to include labor/overhead/materials in costs? Be sure to list your pricing strategy for each product or service. A comprehensive marketing strategy will ensure your success because it will tell you how to obtain and keep customers, how to compete in your marketplace, and what resources you will use to achieve your goals and objectives.