What problem does my product or service solve?
--> You must know the IN and out of your product This is a key since you being a creator caretaker father mother of your product ( This is purely your area, may be an third eye can add a point or two)
Who will buy my product or service?
--> Yes this is Market /Customer Segment and Segmentation specific to focus(time dependent, seasonal, categorised)
Why will they buy it? -
--> This is the Value that your product will create for them in terms of Comfort, Cost, Care, & Pride( meaning they beat their chest when they say to others how they benefited compared to others- A human factor that your product Boosts for them)
Where will they buy it
--> specialty shops, department stores, online, smartphones? - Hope this is not all exclusive( why not direct mktg, dealer based, sell at your shop ) All are circumstance and after mkt based and product lifecycle
What do I need to charge to make a healthy profit and will people actually pay that?
--> Charges or profit is dependent upon product Value creation ( Emotional, Momentary, Circumstance based emergency and many more )
What products or services will mine be competing with?
-->You have to know your SWOT(STRENGTH, WEAKNESS, OPPORTUNITIES, THREATS). Embrace that you are competing with you and raising your bars on Quality and Value by benchmarking
Expert for research my business and need a business model so we pitch the investors.
ALL THE BEST