What to Include in the Products and Services Information Section of Your Business Action Plan

The product and service section is an important part of your business action plan. It's your chance to clearly explain your products and/or services. Identify their features and benefits. Discuss what needs or problems they address in the marketplace.

products and services

Features and Benefits

Features deliver the benefits. What is it your product or service can do. Including characteristics such as size, color, shape, functionality, design, content, hours available.

State if you are the first to come out with this product. How your version is an improvement. Group yours differently than everyone else. Be sure to include affiliate products and services as well.

Always keep in mind that people buy products for their benefit. Not necessarily for a need.

You must consider the customer's viewpoint. Benefits answer the customer's question: Why would I want to own or use it? How will it benefit me?

Besides putting yourself in your customers shoes, talk to and ask why they like the product or service. They may see benefits that you had not considered. Or they may not even see what you thought was a benefit.

Understanding product features and benefits helps you develop your Marketing Plan. Makes it easier to clearly see your Unique Selling Position. Making the promotion of products and services more effective.

For example:

Features of a vacuum cleaner

Lightweight.
Durable.
99.9% dust free.

Benefits of a vacuum cleaner

Finish quickly.
Little effort.
House feels clean.
Saves money.

While product features are usually easy to point out and describe, product benefits can be trickier because they are usually intangible.

The most compelling product benefits are those that provide emotional or financial rewards. For example, sending a card to a friend or family member allows the buyer to express their love and appreciation.

Product Overview

If you are selling a product, you will need to:

Include pictures if they help give a better understanding of your product.
Discuss its features and benefits.
Describe the quality,
List the life-span of the product or service.
Include patient information if applicable

Also include how it is produced, the materials used, and cost to manufacture.

Service Overview

Discuss the features and benefits.

How it functions.
The need you address.
Where the service will be provided.
What makes your service different.
The days and hours of operation.
Explain the steps in your service process that you offer your clients.

Follow Up System

Set up a system to track feedback from customers. Ask for suggestions for improvements. Learn from complaints and compliments.

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Write this section with enough information to satisfy an outsider's need to understand your service without giving them trivial details.

What's Next

The next section of a Business Action Plan to complete is the Marketing Plan. Want to how to prepare one?

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