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  • Writer's pictureSoundBeatsTime

Business planning - helpful questions (II)

Updated: Mar 3, 2023

Next set of questions:

The market
  • Where are you going to launch your product/service?

  • Is there a high demand in the market for it?

  • Is the market free of monopoly?

  • Do your current competitors sell good enough?

  • Is it a big or small market?

  • How many products/services are already on the market similar to yours?

  • What are the characteristics of the market (size, structure, geography, entrance barriers, evolution tendencies, etc.)

The competition

  • What makes you better than your competitors?

  • How many competitors are there in the local/regional/national market?

  • What is the quality of your competitors?

  • What's the target group of the competition?

  • What's the worst and best part of the competitors' product/service?

  • What's the price of the competitors' product/service?

  • Who are the competitors and their description?

  • What do they offer, including additional benefits?

  • What benefits do their clients have? What are their clients missing? What mistakes/good steps did the competitors do so far?

  • What are the target group's characteristics?

  • What are the demands of the clients?

  • What are the expectations of the clients?

  • Why would they buy my product/service?

  • Which aspect of my product/service satisfy their needs?

  • Which aspect of my product/service does not satisfy their needs?

  • How and what segments of clients do you want to have?

  • What is the profile of each segment in terms of age, education, gender, income, family status, social status, consumerism behaviour, preferences, ways to be approached, places of purchasing, frequency of purchasing, etc.?

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