About Lesson
Product and Services
Here you will type an outline of the products and services you sell. Describe your product/service in layman’s terms. Explain any niche you may have. Discuss yourcompetitive advantage: Why people will choose your product over your competitors’, the benefitsof your product/service, and how you will sustain your edge.
3.1 – Product Lines
Detail the features and benefits of your product/service. Remember,features are the characteristics of a product or service that automatically comes with it. The benefit is the result your customer enjoys—in other words, what they get from it. For instance,a telephone company may offer an automatic switching line to re-route calls to anotherlocation in the case of a power failure. That’s the feature. The benefit to the customer isthat potential sales will not be lost.
3.2 – Offerings
Explain how you acquire, produce or develop your offerings. Do you manufacture all of your products or do you purchase some from other vendors? Do you utilize contract manufacturers? Is your service provided internally or do contract employees perform a portion of them? If your business is manufacturing or retail, list your suppliers, average inventory costs, and timing of deliveries.
3.3 – Unique Features
Explain your competitive advantage. What makes your product/service better, faster, more durable, etc.? Include any proprietary features. Do you have any patents, copyrights, trademarks? Include evidence of these in your appendix. Also, describe how you are going to sustain your competitive advantage.