What should a product description include? 10 essential elements

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A well-written business plan should include a product or service description. This section should comprehensively showcase your product and its various aspects. What should a product description include? Read our article to find out!

What should a product description include? – table of contents:
What is a business description?
Product Features and Benefits
Products or services – key questions
What should a product description include?
How to prepare a product description in your business plan?
Summary
What is a business description?
A business plan consists of several parts that should create a comprehensive presentation of your business. After writing an executive summary and business description, it’s time to write a product or service description.

Here you should describe a product or service in the most bahamas whatsapp number database way possible. Don’t focus on technical details. This section shouldn’t be too long and full of industry jargon. Use simple, clear words instead. Focus on the product or service and how to bring it to market.

You can also mention various patents, copyrights, trademarks that are associated with the product. This is where you should explain how your product stands out in the market and what problem it solves.

what a product description should include
Product Features and Benefits
What should a product description include? Of course, key information about them. But what does that mean? Of course, the starting point is a description of the product or service that will be offered by your startup. Describe what your product is, how it works, and how much it should cost. You should also compare the alternatives offered by your competitors in a few words.

It will also be helpful to include information about the advertising and marketing materials that will play a role in the sales strategy , as well as information about the use of the Internet and social media for this purpose. It will also be helpful to inform how customer orders will be processed.

And don’t forget to describe the tools and solutions that will allow you to launch the product or service. It’s also worth mentioning legal issues, such as securing copyrights, etc. Finally, you can mention the products or services you plan to implement in the future.

Products or services – key questions
You should prepare well to write a product or service description. It should include logical information addressing the most important issues related to your product. However, to write such a part of the business plan, you need to answer some key questions in advance:

What stage of development is the product or service in?
What will be the timeline for bringing the product or service to market?
What is the competitive advantage of your product or service?
Are there difficulties to be overcome in bringing the product to market?
What will the production costs be?
How will the product or service be prepared? Will it be handled by an external entity or not?
what a product description should include
What should a product description include?
Before preparing a product or service description, it is best to write a short outline of what will be included in this section. Such text should include the following elements:

product/service characteristics – describe what the product/service is, how it works, what benefits it brings to users, what problem it solves,
comparing the product/service with the competition – compare it with similar solutions that are already on the market and determine why your product/service is better,
price list – decide on the price of the product/service and compare it with the prices of products already on the market,
intellectual property – make a list of the certificates, copyrights and patents you own,
product life cycle – describe the process your product goes through from when it is introduced to the market until its decline or removal,
distribution and sales – write where the product/service will be offered,
product/service implementation – present the plan for delivering the product/service to customers, deadlines and methods,
production requirements – specify technologies, materials and equipment needed to produce the product/service,
expansion opportunities – establish the plan to develop and introduce more products/services,
product photos – add them if they exist.