| Marketing |
 |
 |
| A formal five year business plan and financial model is now required. The market analysis has been completed, a target market segment is identified, and a comprehensive knowledge of purchase decisions makers and influencers is complete. Decisions now have to be made on the best way to take the idea to market; will the company generate revenue from one or a combination of direct sales, distributors, and/or licensing into an existing product or service offering. Based on this decision, a sales strategy has been developed around the best way to take it to market with a clear set of milestones. Product pricing and costing has been analyzed relative to market influences such as competition, while costing has been matched to not only production expenses. A human resource plan and practical allowances for sales and support costs have been made with attention to outsourcing for initial requirements and adding internally as sales necessitate. The working version of the product or service is developed and requirements for initial tests are done. Any required regulatory testing is begun, if not already started. |