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market checklist
Market Research
Identify target market
Analyze market size and potential growth
Evaluate competition
Assess market trends and consumer preferences
Determine pricing strategy
Product Analysis
Define product features and benefits
Conduct SWOT analysis
Assess product differentiation
Evaluate product quality and reliability
Analyze product demand and potential challenges
Marketing Strategy
Define marketing objectives
Develop a marketing plan
Determine marketing budget
Identify marketing channels (online, offline, etc.)
Create a brand positioning strategy
Sales and Distribution
Determine sales goals
Identify sales channels (direct, indirect, etc.)
Evaluate distribution options
Develop a sales strategy
Outline sales team structure and responsibilities
Promotion and Advertising
Define promotional objectives
Identify target audience for advertising
Determine advertising budget
Select advertising channels (TV, radio, online, etc.)
Create a promotional schedule
Customer Relationship Management
Develop customer retention strategies
Establish customer support and service processes
Create a customer feedback system
Implement customer loyalty programs
Ensure customer satisfaction measures
Financial Planning
Determine pricing strategy
Calculate cost of goods sold
Assess profitability and break-even point
Develop sales forecasting methods
Create a financial projection for the market
Legal and Regulatory Compliance
Identify legal requirements and regulations
Ensure compliance with industry standards
Obtain necessary licenses and permits
Protect intellectual property rights
Comply with advertising and consumer protection laws
Risk Assessment
Identify potential risks and challenges
Develop risk management strategies
Evaluate market volatility and uncertainty
Determine contingency plans
Monitor and review risk mitigation measures
Evaluation and Monitoring
Establish key performance indicators (KPIs)
Set benchmarks for success
Regularly monitor and evaluate market performance
Review and adjust marketing strategies if necessary
Conduct market research surveys and gather feedback
Note: The order and sections of the checklist may vary depending on specific requirements and preferences.
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