To ensure your capability to deliver, you need to consider if your product or service is market-ready and fit for purpose. This includes acquiring appropriate approvals, registrations, licences and trademarking, if required.
It is important to show confidence in what you are selling, therefore you need to make sure you have a strong knowledge of your product or service.
To ensure your product or service is ready to market to a potential buyer, consider:
- What is its purpose? Will it meet consumer needs?
- How does it work? Is it a user friendly process for the buyer?
- How is it developed and manufactured? Does it support local industry and the environment?
- How does the price compare to similar products or services? Is it affordable and valued?
- How does its performance and/or qualities compare to similar products or services? Are you able to set it apart from the rest?
Helpful Resources
Trademarking
For more information on trademarking, visit IP Australia.
Marketing Plan Guidelines
Working through a marketing plan for your business can help you better understand the position of your product or service in the marketplace. Take a look at this guide: Preparing Your Marketing Plan for more information.
