ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The products and services section of your business plan outlines your product or service, why it’s needed by your market, and how it will compete with other businesses selling the same or similar products and services.

Detailed explanation-2: -Executive summary This is your five-minute elevator pitch. It may include a table of contents, company background, market opportunity, management overviews, competitive advantages, and financial highlights.

Detailed explanation-3: -Summary/Overview A brief, but focused statement (a few sentences or paragraphs) stating why the business will be successful. This is the most important piece of a Business Plan because it brings everything together.

Detailed explanation-4: -A product description is the marketing copy that explains what a product is and why it’s worth purchasing. The purpose of a product description is to supply customers with important information about the features and benefits of the product so they’re compelled to buy.