Business Plan - Products And Services Offered

Along with describing exactly what it is a company will sell, business plans also explain why these products or services are more likely to sell than similar offerings by competitors. For example, travel discounter Hotwire.com could have justified in its business plan the superiority of its services to those offered by rival Priceline.com, a name-your-own-price travel service, by pointing out key differences. Online shoppers who purchase airline tickets on Hotwire.com know their dates of travel, their estimated number of layovers, and the exact purchase price before they actually complete a transaction. They also know they are getting the lowest fare possible among those listed on Hotwire. In comparison, shoppers on Priceline.com are required to commit to a purchase—if the price they request is available—before knowing the exact travel dates or approximate number of layovers. Priceline also does not alert the consumer if a price lower than the one requested is available.