Introduction of the Product in the Marketing Plan
In the introduction of the marketing plan you describe what the product or service is. It's purpose is to give the background of the project and a description to the reader so that they understand what your proposal is. This is not an overview of the marketing project, instead, describe the product in detail, and say why there is demand for it in the marketplace. After reading this section, the reader should understand what the product or service is and how it will fit into the intended market.
Describing the product in detail includes information such as color, size, shape,etc. Not only do you need to describe the product in physical terms, you also need to describe the product's life cycle as well (if applicable).
If the marketing plan is to be submitted for some kind of financial allotment, it is also desirable to add a bit of history to your company if possible. Besides just the facts about the product, include some history about the company so that the reader has an understanding about who is behind this product. There are many other sections in the marketing plan that can be dry and numbers heavy. This is your chance to connect with the reader.
Here are a few of the details that you should try to include in the marketing plan introduction:
- For products, identify in terms of name, trademark, color, shape, and other characteristic, including packaging and labeling.
- Differentiate the products/services in terms of how it fits into the market.
- Describe the product/service weaknesses.
- Describe the product lines, and new products/services that will be introduced.
- List the cost of each product/service.
- List the intended prices for each product/service.
- Identify percent of annual sales and dollar amount each product/service represents.