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How to Describe your Product in a Business Plan

Products and Services

The product or products your business intends to produce or offer will have to be described in the product description section of your business plan. This section of your business plan is meant to explain how your product will stand out from comparable items in the market.

You have to clearly explain its concept, coupled with all aspects of purchasing, manufacturing, packaging, and distribution. You should also identify your suppliers, costs, and how the product you are offering fits into the current market.

Note that the product description in your business plan is more than a simple listing of product features. In this section, you will need to highlight your product’s most unique characteristics that will ensure it stands out in the marketplace and attract buyers who won’t mind paying your price.

Note that a properly written product description in your business plan can entice investors and help your business grow. Make sure you describe what you are offering in layman’s terms, to guarantee that someone who isn’t conversant with your business will grasp and be excited about it.

It may also be necessary to provide some basic background if this is an area or industry that people are not so familiar with. While you write up the Products and Services description section of your business plan, always keep your reader in mind.

What to Include in the Products and Services Description Section of Your Business Plan

Just as was noted above, the products and services section of your business plan will have to explain in detail your product or service, its demand in your market, and how it intends to compete with other businesses selling the same or similar products or services. Nonetheless, the product and services description section of your business plan is expected to include:

The Product or Service Description

It is important the product description section of your business plan clearly explains the concept of your product, coupled with all aspects of purchasing, manufacturing, packaging, and distribution. What are your product and service, and how does it work? How will this product benefit your customers? How do you plan to make it or how do you intend to get it made?

Product Comparison

This section of your business plan will also have to explain how your product compares with similar products in the market. What makes this product or service unique or better than what’s already obtainable in the market? Why would anyone prefer your product or do business with you?

You will need to describe how and why you are competitive. How do you stand out, and why do your business and everything it offers have such a viable chance at succeeding? In talking about your product or service, always try to answer why a client would want it and how it can make their lives better or more profitable?

Accreditations/Intellectual Property

For businesses that have had their product tested by industry experts, you must include this information when describing your product. Don’t forget to highlight any certifications, trademarks, copyrights, or patents.

Have it in mind that these added advantages or achievements can give you and your product an upper hand. Verified patents and trademarks can also heighten the value of your product especially since it shows that only your company can manufacture the product for the life of the patent.

Have it in mind that a product’s life cycle includes the idea, prototype, and expansion stages. If you are still in the idea stage, you must buttress in your description how you intend to get the product made and why your product matters.

If you maybe already have a prototype, outline your plans for evaluating the prototype and manufacturing your product. If your business has been making the product but is looking to expand to keep up with demand, ensure you explain this when describing your product in your business plan.

You will also want to include the cost of your product and how that cost aligns with other comparable products on the market. In very concise detail, explain how you came to this price, including the cost to manufacture, selling price, and profit margin.

Sales and Distribution Strategy

Also, take your time to explain how and where you will sell your product. Have in mind that your options may include online stores, brick-and-mortar locations, and vendors. If you already have vendors selling your product, ensure to note who they are and their locations in this section of your business plan.

Fulfillment

When describing your product in your business plan, it is also important you describe your plan to ensure your product gets to the intended customers. This should include manufacturing details and delivery specifics. If you plan to outsource the production of your goods, don’t forget to note manufacturer specifics such as location and production time. Also, remember to include the approximate delivery times and methods.

Requirements

Will you require any special equipment or technology to provide your product or service? Also explain if any specialized technology, materials, or equipment will be required to manufacture your product.

You will also have to explain your plans for product development and introduction especially as your business grows.

Photos or Brochures

Also, make sure that your potential investors can get a good insight into your product through photos and brochures. Don’t forget that your business plan is expected to have an appendix for photos and brochures. Also, don’t forget to refer to them in the product description section.

Tips for Writing a Product Description

To ensure you describe your product thoroughly, here are some vital tips to guide you;

  • Always remember the reader. The product description section of your business plan must note your product’s most vital information. Always remember to make this section very easy to read and understand. Consider making it better by leveraging numbered lists and bullets.
  • Focus on benefits. When describing your product, you must explain how its features can provide value to consumers. Translate your features into benefits, and remember that the aim is to describe how your product or service will be a solution to a problem or improve a client or customer’s life.
  • Highlight the features of your product or service. To attain substantial success in any business, your business will need the ability to set itself apart from other businesses that offer or sell the same products and services. Take your time to analyze key features, such as price point or level of service, or anything that makes your product unique in the market.
  • Show off a little. Don’t forget that you are selling a product and also selling yourself as the most viable provider of that product. Ensure to include all vital educational or industry-specific experiences and awards in this section. If you have endorsements or testimonials specific to your product, include them as well.
  • Show the need for your product. Also make sure you explain how your product will cater to a need or improve life, showing why your product is very necessary to the consumer. This is very pertinent if your product has no current market.

The product and services description section of your business plan is meant to provide the reader with an explicit understanding of why you are in business, what you sell, how you will compete with what’s already available, or how you intend to fill a niche that no one else is currently meeting. Noted above are things you need to consider when creating the product description section of your business plan to ensure that it will indeed grab your readers’ attention.

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Products & Services Section in a Business Plan (+ Examples)

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  • March 21, 2024
  • Business Plan , How to Write

products & services

In this blog post, we’ll guide you through writing the products and services section of your business plan. We’ll cover how to describe what you’re selling and why it’s important in your business plan.

Whether you’re launching a new startup or creating a business plan for an existing business, this section is crucial for showing the value you bring to customers. Let’s get started!

Why do we include them in a business plan?

The products and services section of a business plan is more than just a list of what a company sells; it’s a vital narrative that tells the story of the business’s core offerings and their significance to the market.

This section is paramount for readers (especially potential investors) to grasp the essence of what the business is about, the unique problems it solves, or the specific needs it addresses.

A meticulously crafted products and services segment does much more than describe offerings. Indeed, it lays the groundwork for comprehensive marketing strategies , informs operational planning, and financial projections.

Moreover, understanding the business’s offerings in depth enables stakeholders to envision the company’s value proposition and competitive edge.

Where should you include them?

In a business plan, the Products and Services section is typically included within the business overview section.

This allows you to first introduce the business model and what it offers to customers. Only after this you can provide more details of the products and services.

The Products and Services section should clearly detail what you are selling, highlight the unique value proposition . It should also ideally explain how it meets the needs of your target market if it isn’t obvious. T

What to include: 2 Examples

Begin with a clear, engaging description of each product or service you offer. For services, describe the process, customer experience, and outcome. For products, discuss the materials, technology, and any unique features.

Services example: a Cryotherapy business plan

product comparison in business plan

Products example: a Brewery business plan

product comparison in business plan

Privacy Overview

How to describe your product and service in a business plan like a pro

It’s deceiving.

You’d think that this part of a business plan does exactly what it says on the tin–describe your product & service offering– right ?

And yes, you are partially right. 

But there’s a very specific way in which this description should be written to make sure that your business has the best chance of succeeding – in real life and under the eagle eye of a potential backer (if you’re preparing a business plan for external financing purposes).

Keep reading to find out the secret sauce to writing a winning product and service description:

WHAT is the Product and Service Description in a Business Plan?

This business plan section is also known as:

  • Product and/or Service Overview

HOW Do You Write a Product and Service Description in a Business Plan?

So, what should a good product/service overview contain?

Here are some items to consider including into this section:

1.     Portfolio:

The range of products and/or services that a business offers to potential and current customers.

2.     Features and benefits (value proposition):

Explain what the product/service does and how it works.

3.     Problem and solution (value proposition cont.):

The problem(s) the product or service solves. Every business needs to solve a problem that its customers face. Explain what the problem is and how the product or service solves it.

4.     Innovation:

If the company is doing something new and different, explain why the world needs the innovation.

5.     Proprietary advantages:

Any proprietary features that contribute to a competitive advantage. This could include: intellectual property (e.g., copyright, trademark, patent filings, trade secret), exclusive agreements with suppliers or vendors, exclusive licenses (e.g., for a product, service or technology), company’s own research and development activities.

6.     Development stage:

Current stage of development of the product / service (e.g., idea, development, testing, prototype, already on the market).

7.     Product life-cycle:

Estimate the life span of the product or service.

Specify whether the product or service under consideration is a short-lived fad or has a long-term potential.

8.     Future:

Mention plans for changes and new additions to the current portfolio of products / services.

Describe any plans to move into new markets in the future (e.g., serving different types or sizes of customers, industries, geographic areas).

Make your best guess at when the business will be ready to address these markets and what it needs to do first to be ready.

9.     Limitations:

If applicable, explain any risks or limitations associated with the product (e.g., liability issues like guarantees or returns), along with any legal advice received regarding these issues.

10.  Visual aids:

Use photos, images, diagrams and other graphics to help the reader visualize and learn about the products / services.

If the business is tackling several distinct problems through different products / services, describe the solutions individually .

However, for a large line of products / services, there is no need to list each one, just identifying the general categories will suffice.

How LONG Is the Product and Service Chapter of a Business Plan?

This part of a business plan can be very short, just a couple of paragraphs, or it can spread over multiple pages, depending on how many products/services you offer and how much explanation they require.

If your products or services are particularly complex , technical , innovative , or proprietary , you will want to provide more information and spend considerable time describing them.

This is especially true if you are seeking funding for a new product or service, particularly one that is not immediately understandable to the business plan readers, and if potential funders are likely to be motivated by the specifics.

In any case, when describing a product or service, provide just enough information to paint a clear picture of what it is and does . A brief explanation of what you will be making, selling or doing is appropriate here.

Excessive detail makes this section cumbersome for a reader to wade through. Reserve detailed descriptions (e.g., production processes) for the Appendix.

In any case, it is a good idea to first summarize the value proposition of each product or service into a one short sentence, and only then continue with a more detailed description of the product or service.

If any images or graphics are available that would contribute to the understanding of the product or service, the writers of a business plan should use them.

Otherwise, include any product or service details , such as technical specifications, drawings, photos, patent documents and other support information, in the Appendix section of the business plan document.

TOP 4 TIPS for Writing a Product and Service Overview

Tip #1: features v. benefits.

Don’t just list the features of the product / service.

Instead, describe the specific benefits it will offer to customers – from their perspective.

Make it clear what your customers will gain through buying your product or service. Include information about the specific benefits of your product or service – from your customers’ perspective.

Features are not the same thing as benefits. And you need to understand both.

Confused? Let’s clarify:

What Is the Difference Between Features and Benefits?

Tip #2: problem v. solution.

If at all possible, present the information in the Problem >> Solution format.

Start by describing the key problem that your customers have, immediately followed by the solution with which you will address this need for your target market.

Tip #3: Competitive Advantage

You should also comment on your ability to meet consumers’ key problems or unmet needs in a way that brings your product or service advantages over the competition.

For example:

  • If you have a common business, such as a restaurant:

Explain why your customers need your particular restaurant. Do you offer lower prices? More convenient hours? A better location? A different concept, such as a vegan ice-cream pop up store? A specialty that is not otherwise available in your area, such as a Peruvian ceviche or Hungarian goulash?

  • If your company is doing something new and innovative :

What is it about the existing solutions that is subpar? Maybe you are improving on a mediocre product category, such as creating better medical uniforms for healthcare workers (e.g., more flattering cut, trendy designs, sustainable materials). Or perhaps your new blockchain solution has the potential to entirely eliminate the middle-men in an entire industry.

Although the subject of competitive advantage regarding the business as a whole will be fully explored in the Market and Competitor Analysis part of a business plan, it is advisable to touch on it here also – in the context of the company’s products and service.

Tip #4: Validating the Problem and Solution

Speaking of which, when you are doing market research and analysis for your business plan, remember to validate the problem and solution your product or service is addressing.

There is a plethora of minor issues out there that people are perfectly fine with just tolerating. To build a solid business, though, you need a problem that a sufficient number of people are motivated to solve. That is, that they recognize it as a problem that’s worth paying you to solve. Even if they didn’t realize it was solvable until they were presented with your solution.

So, how do you get evidence that prospects are willing to pay for your solution?

Validation of Problem

Describe what you’ve done so far to confirm that the problem you are focused on is a real problem for your customers.

  • Existing Business:

For an established business, this is probably just a matter of recapping your success in the marketplace. Your customers have already voted with their wallets.

  • New Business:

For a startup, it is important to survey and have conversations with as many potential customers as possible about where they are having problems, how they solve them today, and validate that they are interested enough in addressing those problems to pay for a good solution.

Validation of Solution

Describe how you have tested your ideas with existing or potential customers to confirm that there is a good market for the products or services you plan to offer. Summarize the positive customer feedback or market traction that you have achieved with your solution so far.

For an established business, the answers probably lie in your paying customer base – their existence itself, combined with their repeat business, word-of-mouth referrals, follow-up customer surveys, and other indicators of customer satisfaction.

For a new business, you can start validating your solution immediately by trying it out with potential customers, even informally or at no charge, to get their opinion. If your product or service does not exist yet, talk to prospects about what you plan to offer and measure their feedback.

In summary, this section should answer the million dollar question:

What makes you think that people will buy, be satisfied with, and recommend your products or services?

Related Questions

What are products and services.

Products and services are items that businesses offer for sale to a market. While services are intangible, meaning that they do not exist in a physical form, products are of tangible nature, in other words – you can touch them.

What is a Product Line?

Product line is a group of related products that are all produced or sold by one entity and typically marketed under one brand name.

What is a Service Line?

Service line is a group of related services that are all produced or sold by one entity and typically marketed under one brand name.

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How to write the products and services section of your business plan

entrepreneur selling their products through telephone whilst running their business

You are probably wondering how you should present your business's products and services in your business plan.

The products and services section of the business plan usually comes after the presentation of the company and just before the market analysis section .

Understanding your business oferring is of significant importance to stakeholders who will use this information to assess whether they believe your business sells what customer wants when reading the next part of your business plan.

So, how do you ensure that the products and services section is well-written and provides readers the detail they want to see?

Let’s take a deeper look at each component in more detail!

In this guide:

What is the objective of the products and services section of your business plan?

What information should i include in the products and services section of my business plan, how long should the products and services section of your business plan be.

  • Example of products and services presentation in a business plan

What tools can you use to write your business plan?

This section comes relatively early in your business plan, on the face of it: its main purpose is to inform stakeholders, including lenders, suppliers, investors, and other partners what goods or services your business sells.

More subtly though, your overall goal should be to guide the reader towards the conclusion that you have the right products and services to succeed in the marketplace.

This usually includes starting a basic description of your products or services which details how they work, what purpose they serve and who they are aimed at.

Then, your products and services section should also hint at what makes your business different from your competitors (bearing in mind that the reader is not yet familiar with your competitive environment as the competition section comes later in your business plan). Added value and unique selling points are two key factors towards making any business successful.

Finally, this section should also summarise how your business aims to market and sell those products or services. For instance, you could explore the marketing strategy (without going into depth as your sales and marketing strategy will also be the object of a dedicated section later in the document) by explaining how you plan to attract and retain customers.

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Remember that the products and services section appears just after the company overview section and precedes the market analysis section.

This means that readers are still in the process of forming a clear understanding of what your business does and in which market environment it operates.

Product details

To begin with, you should provide a description of the broader categories your products or services belong to. Once this is addressed, you can go into more detail, explaining each of the key products and services that your business offers.

In this section, you should explain:

  • What each of your products or services are
  • Who are they aimed at
  • The purpose of each product or service - do they address a specific customer need, solve a common problem, or fulfill a desire for customers?
  • What is the process of manufacturing the products - are you making them yourself, outsourcing production, or buying them from a manufacturer?
  • In the case of a service, how is the service performed? That is to say, how will you be offering this service to your customers?
  • How will you sell your product or service?

For manufacturing businesses, it is important to also specify the production process. For example, you could state your monthly or yearly output, and explain if it is possible to increase production capacity. If so, you can discuss how you would go about doing that and if/when you plan to do so.

When describing your products and services, it is useful to also give an overview of the overall sales cycle to the reader. Especially when it is a complex, long, or unusual process - such as a 6 months B2B transaction or a house sale for example.

When doing so, make sure to clearly lay out at what stage of the customer journey your agreement with the customer becomes binding, when you invoice and when you can expect to get paid.

Future plans

This section should also discuss whether or not your business has the ambition to increase its product or service range in the future.

For example, if you plan to introduce a greater variety of cupcake flavors, be sure to include that and state whether or not market research has been done to validate your expansion.

The key to a well-developed products and services section is to make it easy to understand. Use product pictures and flow charts to help explain processes. Assume that the reader is not familiar with industry jargon. And don't go in too much details: this section shouldn't be a full catalogue with detailled specifications of hundreds of products.

entrepreneur writing the products and services section of their business plan

There is no exact length requirement for the products and services section. Generally, it is suggested to keep it to one or two paragraphs per product or service. However, the length can vary based on the following aspects:

Number of products or services that your business offers

The level of detail should be inversely proportional to the number of products or services you offer.

Stakeholders need to have a clear understanding of your main products and services, so that they can verify that what you sell is what customers want to buy.

If your business only sale one service, you have all your eggs in the same basket so to speak, and therefore, the reader we’ll need to know all the ins and outs of it.

Inversely, if you sell 500 different products, you benefit from a diversification effect and as long as a couple are successful you're business will do well. Therefore, the reader doesn't need to understand the details of each one, having an overview of the main categories and a couple examples of your best sellers is enough to form an opinion on your chances of success.

Level of complexity of the product or service

The level of detail also depends on the level of familiarity of the reader with your industry: a complex product will require more explaining than a vanilla one.

For example, if you sell sandwiches there is a high probability that the reader of your business plan already had one and understands how they are made. However, if you sell a solution based on the blockchain technology or quantum physics, you'll need to explain how it works in simple terms so that the reader is clear on what you do before venturing into other sections of your business plan

Level of vertical integration of the business

The type of business you are in will affect how much detail you need to go into regarding your products.

If you are an integrated business, that is manufacturing products, handling the logistics using fleets of trucks and a network of owned warehouses before selling them in dozens of owned stores, you will have a lot more detail to provide than a retailer with a single sale point.

In any case, keep in mind that you don’t need to make this section any longer or shorter than it has to be. Any information you include here has to be relevant to your business’s core products and services.

Example of presentation of products and services in a business plan

Below is an example of how the products and services section of your business plan might look like. It includes a list of the services provided by the business and how each one is structured in terms of the processes.

business plan example: products and services section

This example was taken from one of  our business plan templates .

In this section, we will review three solutions for writing a professional business plan:

  • Using Word and Excel
  • Hiring a consultant to write your business plan
  • Utilizing an online business plan software

Create your business plan using Word and Excel

Creating a business plan using Word and Excel is old fashion, error prone, and (very) time consuming.

First of all, using Excel to create your financial forecast is only feasible if you have a degree in accounting and experience in financial modelling, because lenders are unlikely to trust the accuracy of your financial forecast otherwise.

Secondly, using Word means starting from scratch and formatting the document yourself once written - a process that is quite tedious. There are also no instructions or examples to guide you through each section making the overall process much longer than it needs to be.

Thirdly, for a business plan to be really useful it needs to be tracked against the company's actual financial performance and regularly updated which is a very manual process if you are using Excel.

Hire a consultant to write your business plan

This is a good option if you have the budget for it - from experience you need to budget at least £1.5k ($2.0k) for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders).

Consultants are experienced in writing business plans and most of them adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

Use an online business plan software for your business plan

Another alternative is to use online business plan software .

There are several advantages to using specialized software:

  • You are guided through the writing process by detailed instructions and examples for each part of the plan
  • You can be inspired by already written business plan templates
  • You can easily make your financial forecast by letting the software take care of the financial calculations for you without errors
  • You get a professional document, formatted and ready to be sent to your bank
  • The software will enable you to easily track your actual financial performance against your forecast and update your forecast as time goes by

If you're interested in using this type of solution, you can try our software for free by signing up here .

Also on The Business Plan Shop

  • Do I need a business plan? Your questions answered
  • Business Model vs. Business Plan
  • How to present the management team in your business plan
  • How to write the milestones section of your business plan
  • How to write the risks and mitigants section of your business plan
  • Business proposal vs business plan
  • Business plan vs strategic plan
  • How to write a business plan to find a cofounder

Know someone in need of a little help creating their business plan? Share this article and help them out!

Guillaume Le Brouster

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

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How to Write the Business Plan Products and Services Section

Get tips on writing the products and services part of your business plan

product comparison in business plan

  • The Products and Services Section
  • What to Include
  • Tips on Writing the Section

The products and services section of your business plan is more than just a list of what your business is going to provide. This section of your business plan should include details about how you'll price products and services, how you'll fulfill orders, and other details that investors need to hear before you can get funding . Learn more below.

Key Takeaways

  • Business plans include details about products and services you'll offer, including exactly how you plan to market, sell, and deliver on customer orders.
  • The best business plans are clear and concise.
  • The products and services section of your plan should show off why your product or service is needed.
  • The products and services section should also convey the expertise and experience you have to succeed.

Why You Need a Products and Services Section in a Business Plan

The business plan products and services section is the centerpiece of your plan. While other sections of your business plan are important, the products and services section is the essence of your business and the point around which every other part of the business plan is built .

What to Include in a Products and Services Section

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.

Your products and services section should include a description of the products or services you are offering or plan to offer (including future products or services). You should explain how your products and services will be priced and a comparison of the products or services your competitors offer in relation to yours.

You should also include the sales literature you plan to use. Detail your marketing materials, and clarify the role your website will play in your sales efforts.

The products and services section will include a paragraph or so on how orders from your customers will be processed or fulfilled, as well as any needs you have to create or deliver your products, such as up-to-date computer equipment. If your process depends on intellectual property or legal issues, such as trademarks , then those need to be addressed.

Tips on Writing the Products and Services Section

This section of your business plan should excite those you're hoping will fund your business or work with you. To that end, here are a few tips to create a products and services section that appeals to the reader.

Indicate Why Your Product or Service Is Needed

Especially if you're venturing into a new concept or invention, or a place where there is no current market, you need to explain the need for your product or service.

Highlight the Features of Your Product or Service

A crucial part of business success is the ability to set yourself apart from other businesses that sell the same or similar products and services. What features, such as price point or level of service, do you offer that are unique to you?

Focus on Benefits

Unique features are important, but even more vital is how those features provide value to consumers. Translate your features (i.e., faster or cheaper) into benefits (i.e., get it now or save money). The goal is to highlight how your product or service will fix a problem or improve a client or customer's life.

Be Clear and Concise

Don't let your business plan get bogged down in too much description and information. Use bullets or numbered lists to quickly and easily highlight important information.

Show Off Expertise, Experience, and Accolades

You not only want to describe your products and services but also share why you're the best person to provide them. Include anything in your education or experience that makes you an expert in this business. If you have testimonials, awards, or endorsements, share those. Finally, if you've applied for a patent, copyright, or trademark, include that as well.

Be the Expert, But Use Layman's Terms

You should know your product, service, and industry well, but don't expect your potential funders and partners to have the same level of knowledge. Assume the reader doesn't know as much as you when you explain what you're offering.

Avoid acronyms and jargon when outlining your products and services.

Indicate What's Special About Your Products or Services

Will you be offering a special guarantee or refund policy? Do you have a quicker or more unique way of delivering your product or service? 

Speak to Your Customer

While you don't want to write an advertorial, you do want to be customer-oriented when you write your products and services section.

Examples of a Products and Services Section

The Small Business Administration offers business plan examples that you can draw from to help guide your writing. Here's an example of a products section for someone creating "Wooden Grain Toys."

Wooden Grain Toys will sell wooden toys made from solid hardwoods (maple, beech, birch, cherry, and oak) and steel rivets. The toys are handcrafted and designed for small children to easily use. Our line currently includes the following nine models:

  • All-Purpose Pick-Up Truck w/movable doors and tailgate
  • Dump Truck w/functioning dumping mechanism and box
  • Biplane (two-seater) w/movable propeller
  • Steam engine with coal tender - additional cars available separately: caboose, flat car w/logs, box car, tank car, coal car
  • Flat-Bed Truck w/logs

Wooden Grain Toys will offer its products for the following prices:

  • All-Purpose Pick-Up Truck w/movable doors and tailgate - $25
  • Dump Truck w/functioning dumping mechanism and box - $30
  • Biplane (two-seater) w/movable propeller - $20
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What Is Product and Service in a Business Plan?

A products and services section of a business plan clarifies exactly what your business will produce , how much it'll sell for, and other details along those lines.

What Are Examples of Products and Services?

A product or service can be anything a business creates to turn a profit. Some businesses have both products and services. For example, a restaurant's services include cooking for and serving customers. The restaurant's products are the dishes and drinks it creates.

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How to Write the Competitive Analysis of a Business Plan

Written by Dave Lavinsky

Competition in business plan

If you are writing a business plan, hopefully by this point you’ve conducted thorough market research to identify industry trends and identified the target market for your business. Now it’s time to conduct a competitor analysis. This section is included in virtually every simple business plan template , and the information you include will depend on several factors such as how many competitors there are, what they offer, and how large they are in comparison to your company.

Download our Ultimate Business Plan Template here

What is a Competitive Analysis?

A competitive analysis is a type of market research that identifies your competitors, their strengths and weaknesses, the strategies they are using to compete with you, and what makes your business unique. Before writing this section it’s important to have all the information you collected during your market research phase. This may include market data such as revenue figures, cost trends, and the size of the industry.

Why Do You Need the Competitive Analysis?

If you are planning to raise capital, the investor will require a business plan that includes the competitive analysis section. This section will also come in handy while writing a business plan template , if your company is considering increasing prices or adding new products and services. You can use the information you find to determine how well-positioned your business is to perform in the competitive landscape.

3 Steps to Writing a Competitive Analysis

The steps to developing the competitive analysis section of your business plan include:

  • Identify your competition.
  • Select the appropriate competitors to analyze.
  • Determine your competitive advantage.

1. Identify Your Competition

To start, you must align your definition of competition with that of investors. Investors define competition as to any service or product that a customer can use to fulfill the same need(s) as the company fulfills. This includes companies that offer similar products, substitute products, and other customer options (such as performing the service or building the product themselves). Under this broad definition, any business plan that claims there are no competitors greatly undermines the credibility of the management team.

When identifying competitors, companies often find themselves in a difficult position. On one hand, you may want to show that the business is unique (even under the investors’ broad definition) and list few or no competitors. However, this has a negative connotation. If no or few companies are in a market space, it implies that there may not be a large enough base of potential customers to support the company’s products and/or services.

2. Select the Appropriate Competitors to Analyze

Once your competition has been identified, you want to consider selecting the most appropriate competitors to analyze. Investors will expect that not all competitors are “apples-to-apples” (i.e., they do not offer identical products or services) and therefore will understand if you chose only companies that are closest in nature. So, you must detail both direct and, when applicable, indirect competitors.

Direct competitors are those that serve the same potential customers with similar products and services. If you sell your products or services online, your direct competitors would also include companies whose website ranks in the top 5 positions for your same target keyword on Google Search.

For example, if you are a home-based candle-making company , you would consider direct competitors to be other candle makers that offer similar products at similar prices. Online competitors would also include companies who rank for the following keywords: “homemade candles”, “handmade candles”, or “custom candles.”

Indirect competitors are those that serve the same target market with different products and services or a different target market with similar products and services.

In some cases, you can identify indirect competitors by looking at alternative channels of distribution. For example, a small business selling a product online may compete with a big-box retailer that sells similar products at a lower price.

After selecting the appropriate competitors, you must describe them. In doing so, you must also objectively analyze each of their strengths and weaknesses and the key drivers of competitive differentiation in the same market.

For each competitor, perform a SWOT Analysis and include the following information:

  • Competitor’s Name
  • Overview of Competitor (where are they located; how long have they been operating)
  • Competitor’s Product or Service
  • Competitor’s Pricing
  • Estimated Market Share
  • Location(s)
  • Potential Customers (Geographies & Segments)
  • Competitor’s Strengths
  • Competitor’s Weaknesses

By understanding what your competitors offer and how customers perceive them, you can determine your company’s competitive advantage against each competitor.

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3. Determine Your Competitive Advantage

Perhaps most importantly, you must describe your company’s competitive advantages over the other companies in the space, and ideally how the company’s business model creates barriers to entry. “Barriers to entry” are reasons why it would be difficult for new companies to enter into or compete in the same market.

For instance, you may have a patent that provides value to your customers and makes them less likely to switch suppliers, which protects your business from potential competitors. Or, you may have more resources than the competition and thus be able to provide superior customer service.

Below is a list of areas in which you might have a competitive advantage:

  • Size of the Company – Large companies have more resources and can usually offer lower prices than smaller businesses. This is a significant barrier to entry, as starting a small business and competing with a larger company may be difficult.
  • Product or Service Differentiation – If your product or service is unique in some way, this will make it less likely that customers will switch to a competitor.
  • Experience & Expertise – Experience and knowledge are valuable attributes that can help differentiate you from the competition.
  • Location – If you are located in an area where there is high demand for your product or service, this can be a barrier to entry because competitors will not want to open new locations.
  • Patents & Copyrights – Protecting intellectual property can prevent others from entering the same market and competing with your company.
  • Brand Recognition – Customers are loyal to brands they have come to trust, which protects the company from new competitors.
  • Customer Service – Providing excellent customer service can help you retain customers and prevent them from switching suppliers.
  • Lowest Cost Offerings – If you can offer a lower price than your competitors, this makes it more difficult for them to compete with you.
  • Technology – New technology that enables you to provide a better product or service than your competitors can be an advantage.
  • Strategic Partnerships & Alliances – Collaborating with a company that your customers want to work with can help keep them from switching.
  • Human Resources – If you have a highly skilled and talented workforce, it can be difficult for competitors to find and employ the same skills.
  • Operational Systems – Strong operational systems that lead to greater efficiencies can protect your business from the competition.
  • Marketing Strategy – Investing in strong marketing campaigns can make your business difficult to compete with.

For instance, you could say that your [enter any of the bullets from above] is better than your competitors because [insert reason].

The competitive landscape is one of the most important considerations in developing a business plan since it sets the stage by providing information on past and current competitors and their respective strengths and weaknesses. A strong understanding of the competitive landscape is needed before you can develop a strategy for differentiating your company from the competition. Follow the above competitive analysis example and you will be well-prepared to create a winning competitor analysis section of your business plan.

How to Finish Your Business Plan in 1 Day!

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Other Resources for Writing Your Business Plan

How to Write a Great Business Plan Executive Summary

How to Expertly Write the Company Description in Your Business Plan

The Customer Analysis Section of Your Business Plan

How to Write the Market Analysis Section of a Business Plan

The Management Team Section of Your Business Plan

Financial Assumptions and Your Business Plan

How to Create Financial Projections for Your Business Plan

Everything You Need to Know about the Business Plan Appendix

Business Plan Conclusion: Summary & Recap

Other Helpful Business Plan Articles & Templates

Download a Free Business Plan Template

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How to create a competitive analysis (with examples)

How to create a competitive analysis (with examples) article banner image

Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. In this guide, we’ll outline how to do a competitive analysis and explain how you can use this marketing strategy to improve your business.

Whether you’re running a business or playing in a football game, understanding your competition is crucial for success. While you may not be scoring touchdowns in the office, your goal is to score business deals with clients or win customers with your products. The method of preparation for athletes and business owners is similar—once you understand your strengths and weaknesses versus your competitors’, you can level up. 

What is a competitive analysis?

Competitive analysis involves identifying your direct and indirect competitors using research to reveal their strengths and weaknesses in relation to your own. 

[inline illustration] What is a competitive analysis (infographic)

Direct competitors market the same product to the same audience as you, while indirect competitors market the same product to a different audience. After identifying your competitors, you can use the information you gather to see where you stand in the market landscape. 

What to include in a competitive analysis

The purpose of this type of analysis is to get a competitive advantage in the market and improve your business strategy. Without a competitive analysis, it’s difficult to know what others are doing to win clients or customers in your target market. A competitive analysis report may include:

A description of your company’s target market

Details about your product or service versus the competitors’

Current and projected market share, sales, and revenues

Pricing comparison

Marketing and social media strategy analysis

Differences in customer ratings

You’ll compare each detail of your product or service versus the competition to assess strategy efficacy. By comparing success metrics across companies, you can make data-driven decisions.

How to do a competitive analysis

Follow these five steps to create your competitive analysis report and get a broad view of where you fit in the market. This process can help you analyze a handful of competitors at one time and better approach your target customers.

1. Create a competitor overview

In step one, select between five and 10 competitors to compare against your company. The competitors you choose should have similar product or service offerings and a similar business model to you. You should also choose a mix of both direct and indirect competitors so you can see how new markets might affect your company. Choosing both startup and seasoned competitors will further diversify your analysis.

Tip: To find competitors in your industry, use Google or Amazon to search for your product or service. The top results that emerge are likely your competitors. If you’re a startup or you serve a niche market, you may need to dive deeper into the rankings to find your direct competitors.

2. Conduct market research

Once you know the competitors you want to analyze, you’ll begin in-depth market research. This will be a mixture of primary and secondary research. Primary research comes directly from customers or the product itself, while secondary research is information that’s already compiled. Then, keep track of the data you collect in a user research template .

Primary market research may include: 

Purchasing competitors’ products or services

Interviewing customers

Conducting online surveys of customers 

Holding in-person focus groups

Secondary market research may include:

Examining competitors’ websites

Assessing the current economic situation

Identifying technological developments 

Reading company records

Tip: Search engine analysis tools like Ahrefs and SEMrush can help you examine competitors’ websites and obtain crucial SEO information such as the keywords they’re targeting, the number of backlinks they have, and the overall health of their website. 

3. Compare product features

The next step in your analysis involves a comparison of your product to your competitors’ products. This comparison should break down the products feature by feature. While every product has its own unique features, most products will likely include:

Service offered

Age of audience served

Number of features

Style and design

Ease of use

Type and number of warranties

Customer support offered

Product quality

Tip: If your features table gets too long, abbreviate this step by listing the features you believe are of most importance to your analysis. Important features may include cost, product benefits, and ease of use.

4. Compare product marketing

The next step in your analysis will look similar to the one before, except you’ll compare the marketing efforts of your competitors instead of the product features. Unlike the product features matrix you created, you’ll need to go deeper to unveil each company’s marketing plan . 

Areas you’ll want to analyze include:

Social media

Website copy

Press releases

Product copy

As you analyze the above, ask questions to dig deeper into each company’s marketing strategies. The questions you should ask will vary by industry, but may include:

What story are they trying to tell?

What value do they bring to their customers?

What’s their company mission?

What’s their brand voice?

Tip: You can identify your competitors’ target demographic in this step by referencing their customer base, either from their website or from testimonials. This information can help you build customer personas. When you can picture who your competitor actively targets, you can better understand their marketing tactics. 

5. Use a SWOT analysis

Competitive intelligence will make up a significant part of your competitor analysis framework, but once you’ve gathered your information, you can turn the focus back to your company. A SWOT analysis helps you identify your company’s strengths and weaknesses. It also helps turn weaknesses into opportunities and assess threats you face based on your competition.

During a SWOT analysis, ask yourself:

What do we do well?

What could we improve?

Are there market gaps in our services?

What new market trends are on the horizon?

Tip: Your research from the previous steps in the competitive analysis will help you answer these questions and fill in your SWOT analysis. You can visually present your findings in a SWOT matrix, which is a four-box chart divided by category.

6. Identify your place in the market landscape

The last step in your competitive analysis is to understand where you stand in the market landscape. To do this, you’ll create a graph with an X and Y axis. The two axes should represent the most important factors for being competitive in your market. 

For example, the X-axis may represent customer satisfaction, while the Y-axis may represent presence in the market. You’ll then plot each competitor on the graph according to their (x,y) coordinates. You’ll also plot your company on this chart, which will give you an idea of where you stand in relation to your competitors. 

This graph is included for informational purposes and does not represent Asana’s market landscape or any specific industry’s market landscape. 

[inline illustration] Identify your place in the market landscape (infographic)

Tip: In this example, you’ll see three companies that have a greater market presence and greater customer satisfaction than yours, while two companies have a similar market presence but higher customer satisfaction. This data should jumpstart the problem-solving process because you now know which competitors are the biggest threats and you can see where you fall short. 

Competitive analysis example

Imagine you work at a marketing startup that provides SEO for dentists, which is a niche industry and only has a few competitors. You decide to conduct a market analysis for your business. To do so, you would:

Step 1: Use Google to compile a list of your competitors. 

Steps 2, 3, and 4: Use your competitors’ websites, as well as SEO analysis tools like Ahrefs, to deep-dive into the service offerings and marketing strategies of each company. 

Step 5: Focusing back on your own company, you conduct a SWOT analysis to assess your own strategic goals and get a visual of your strengths and weaknesses. 

Step 6: Finally, you create a graph of the market landscape and conclude that there are two companies beating your company in customer satisfaction and market presence. 

After compiling this information into a table like the one below, you consider a unique strategy. To beat out your competitors, you can use localization. Instead of marketing to dentists nationwide like your competitors are doing, you decide to focus your marketing strategy on one region, state, or city. Once you’ve become the known SEO company for dentists in that city, you’ll branch out. 

[inline illustration] Competitive analysis framework (example)

You won’t know what conclusions you can draw from your competitive analysis until you do the work and see the results. Whether you decide on a new pricing strategy, a way to level up your marketing, or a revamp of your product, understanding your competition can provide significant insight.

Drawbacks of competitive analysis

There are some drawbacks to competitive analysis you should consider before moving forward with your report. While these drawbacks are minor, understanding them can make you an even better manager or business owner. 

Don’t forget to take action

You don’t just want to gather the information from your competitive analysis—you also want to take action on that information. The data itself will only show you where you fit into the market landscape. The key to competitive analysis is using it to problem solve and improve your company’s strategic plan .

Be wary of confirmation bias

Confirmation bias means interpreting information based on the beliefs you already hold. This is bad because it can cause you to hold on to false beliefs. To avoid bias, you should rely on all the data available to back up your decisions. In the example above, the business owner may believe they’re the best in the SEO dental market at social media. Because of this belief, when they do market research for social media, they may only collect enough information to confirm their own bias—even if their competitors are statistically better at social media. However, if they were to rely on all the data available, they could eliminate this bias.

Update your analysis regularly

A competitive analysis report represents a snapshot of the market landscape as it currently stands. This report can help you gain enough information to make changes to your company, but you shouldn’t refer to the document again unless you update the information regularly. Market trends are always changing, and although it’s tedious to update your report, doing so will ensure you get accurate insight into your competitors at all times. 

Boost your marketing strategy with competitive analysis

Learning your competitors’ strengths and weaknesses will make you a better marketer. If you don’t know the competition you’re up against, you can’t beat them. Using competitive analysis can boost your marketing strategy and allow you to capture your target audience faster.

Competitive analysis must lead to action, which means following up on your findings with clear business goals and a strong business plan. Once you do your competitive analysis, you can use the templates below to put your plan into action.

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Blog Infographics 30+ Comparison Infographic Templates for Product, Marketing & More (+ Design Tips)

30+ Comparison Infographic Templates for Product, Marketing & More (+ Design Tips)

Written by: Sara McGuire Oct 10, 2023

Knowing that so many people have trouble making up their minds, you have probably faced this problem before: how can I get my audience to choose the option I want them to? Or, how can I help my audience make the best, most informed choice?

You probably know from experience that giving your audience a dense, lengthy reports explaining their options doesn’t really stick. Most people won’t bother even reading the whole thing.

Which is why making a comparison infographi c or comparison chart is the way to go.

In this post, I’ll help you inform your customers and get them to choose your products over competitors by using an insightful, engaging product comparison template from Venngage. Let’s get started.

Click to jump ahead:

What is a comparison infographic?

How to make a comparison chart.

  • 30+ comparison infographic templates & design tips
  • Comparison infographic FAQs

A comparison infographic is a visual representation that uses charts, graphs, or other design elements to showcase the similarities and differences between two or more subjects, products or concepts. It presents information in a concise and easily digestible format, making it a useful tool for making informed decisions or understanding complex data quickly.

Here’s an example. This comparison infographic template compares different leadership styles in terms of characteristics, advantages, disadvantages and when to use them. Of course, feel free to edit the template to compare your products vs. competitors’ or different product offerings of your own company:

comparison infographic template about different styles of leadership

What is product comparison?

Product comparison is the process of evaluating and contrasting two or more similar products to determine their features, specifications and performance.

Product comparisons can help consumers compare the product and make informed purchasing decisions by highlighting the strengths and weaknesses.

What is a product comparison chart?

A product comparison chart compares and contrasts different product offerings — either from your own brand, or from your brand vs. your competitors.

You can create a goods comparison chart using a compare and contrast infographic, like this one:

product comparison template product comparison infographic

It’s easy to create a comparison infographic/comparison chart using Venngage. Here’s how:

Step 1: Create a free Venngage account and visit our comparison infographic templates page .

Venngage Comparison Infographic Templates

Step 2: Pick a  comparison infographic template or product comparison template that fits the story you want to tell. This is a good template to start with:

product comparison chart template

Step 3: Replace the content of the template with your own.

Step 4: Add, replace or remove visual aids like icons, illustrations or photos. We offer free icons/illustrations and stock images, but with a paid plan you’ll have access to our full collection of 40,000+ icons/illustrations and 3+ million stock photos.

You can also make your product comparison chart using My Brand Kit (available with a Business plan ):

Step 5: Share the design for free or upgrade to download your product comparison template in multiple formats (PNG, HD PNG, PDF, Interactive PDF, PowerPoint, HTML).

30+ comparison infographics & product comparison templates — plus design tips

Now that you’ve known how to create a product comparison chart, let’s take a look at some more examples of comparison infographics/product comparison templates you can edit with Venngage! Design tips offered along the way.

1. Compare products to highlight features and persuade buyers using a comparison chart

You can tell someone your product is better… but most people won’t believe it until they see it with their own eyes. That’s where good data visualization design comes in.

How do you compare two products?

List the features down the middle of the infographic and compare two similar products. Include product shots to make the products more recognizable. A similar and different chart like this can be useful to highlight the superiority of a product you’re selling, or to help people pick the best product for their needs.

product comparison chart Venngage

Here’s another good example:

Simple Comparison Table Infographic Templates

If you want to compare the pricing points between different products, services or subscriptions you offer (or between you and your competitors!), you can use these two pricing comparison charts:

comparison infographic product subscription pricing comparison chart template

Another way of using icons is to contrast them against a solid color so that they are the main focus of your comparison infographic:

Blue Hardware vs Software Comparison Template

2. Visualize pros and cons to encourage smart decision making

Remember this classic piece of advice: make a list infographic of the pros and cons. Writing down your options can make it easier to weigh aspects of each.

Using visuals—like comparison infographics—to illustrate options is even better. In fact,  a study  at Michigan State University found that the part of the brain responsible for our vision is also largely involved in our decision making.

Follow the pros and cons list model by dividing your infographic in half and placing both lists side by side. Organize your information by categories, using bold headers. Icons are also a great way to visualize ideas and make specific text points stand out.

Simple Red List Comparison Infographic Templates

3. Create a visually appealing table to make information easy to understand

Wrapping your head around multiple options can be challenging. Especially if the information is technical.

What is a comparison table?

A comparison table/infographic table is an effective way to show and compare multiple options between two or more items. You can add icons and strategic colors to the table to help keep the snores at bay, while also making the information easier to understand.

Sure, you could use a spreadsheet. But unless you’re a particularly enthusiastic accountant, spreadsheets have a way of making a lot of people go cross-eyed. Instead, an infographic table is an effective way to show multiple options. Icons and strategic color use help keep the snores at bay, while also making the information easier to understand.

Simple Comparison Table Infographic Templates1

You can also compare experiences to highlight differences. Each point clarifies the difference between each experience:

E-Learning Vs Classroom Comparison Chart

4. Use colors strategically in your comparison infographic template to influence decision making

Colors influence how we perceive information . Most people will recognize, for example, that green equals “go” or “good”, while red equals “stop” or “bad”. Colors can help influence what people perceive to be the right choice and the wrong choice.

In cases where you want to encourage your audience to make a decision, highlighting the “right” choice in green will indicate that they should go for that choice. For more examples of how you can use colors strategically, read our guide to color selection .

Business List Comparison Infographic Templates

5. Debunk myths by comparing facts with fiction side by side

Sometimes we don’t realize how ridiculous a piece of information is until we stand it up against the truth. Comparison infographics can be very effective tools for educating your audience — they’re easy to share on social media and perfect for including in presentations.

How do you do a side by side comparison?

Compare myths in one column directly with the truth in another column. Infographics like this are great for spreading awareness about commonly misunderstood causes.

Creative Side By Side Comparison Infographic Templates

6. Divide your comparison infographic template horizontally to show upsides and downsides

You don’t have to stick with the typical vertical page split. When you create an infographic, you have the opportunity to get creative with your design. Arrange the text and visuals on your infographic to reflect the theme of your information.

Split your infographic horizontally to show gains and losses — literal upsides and downsides. Use directional cues like arrows to direct readers’ eyes towards key information.

Business Data Comparison Infographic Templates

7. Use a Venn diagram template to show overlapping points

A classic Venn diagram is a great way to show where two things differ and where they overlap. If a typical Venn diagram seems too boring, you can spice it up by using brightly contrasting colors and icons.

For example, this venn diagram template uses icons to emphasize each point in the circles:

Venn Diagram Comparison Infographic Templates

  • How to Create a Venn Diagram in PowerPoint?
  • Can You Create a Venn Diagram in Word?
  • How to Design a Venn Diagram in Google Docs?

8. Create timelines to compare journeys or similar processes

Do you want to compare journeys for your different customer personas? Or the new employee onboarding processes for different departments?

There are a whole bunch of reason why you would want to compare timelines. That’s where a timeline template can come in handy. Use different colors for each timeline to help them stand apart. You can also use icons to code the information — to show where there are similarities, and where the different timelines diverge.

Timeline Comparison Infographic Templates

9. Use charts to compare metrics for different segments

Perhaps you want to compare the same metric across different user segments, different channels, or different time period. Using the same type of chart to compare data can highlight the differences.

For example, this comparison infographic template uses a pie chart to compare four customer segments.

Creative Nonprofit Comparison Infographic Templates

10. Contrast the types of icons you use to make one option look more appealing

Generally speaking, it’s good practice to use only one type of icon in your design. This will help your design look consistent.

icons

But rules were made to be broken sometimes.

For example, take a look at how this comparison infographic template uses icons. The icons on the organic side of the circle are vibrant and colorful, while the icons on the GMO side are flat and one-note. This helps drive home the idea that organic foods are the more appealing option.

Creative Food Comparison Infographic Templates

11. Emphasize key numbers with big, bold fonts

If you want to draw attention to specific numbers or statistics, then write those numbers in a bigger font that your other body text. You can also use a contrasting color to help them really pop out from the page.

For example, in this infographic comparing protein content in foods, the grams of protein are emphasized using a big, dark font that contrasts with the white background:

Healthy Food Comparison Infographic Templates

This infographic compares the flu to COVID-19 by emphasizing the numbers being displayed. The numbers are accompanied by icons and a blue background so that they stand out in your infographic:

Seasonal Flu Vs COVID-19 Comparison Chart

12. Use a quadrant layout to compare four things

A quadrant layout shows four options side by side. Similar to how you can use two different colors to differentiate between two options, you can use four colors to help each quadrant stand out.

Take a look at how this quadrant comparison infographic uses contrasting colors for each quadrant. Arrows also act as visual cues to indicate the direction in which the information should be read:

Brand Comparison Infographic Templates

In the event there’s a similar element you want to highlight between the four items, you can use this comparison chart template to showcase that:

comparison chart template similarity and differences

13. Pick a background image that visualizes the theme of your information

Sometimes it can be hard to look past data to see the story behind it. That’s where images can help. Including photos and illustrations in your  data visualization can help make data more meaningful to readers.

One infographic design hack is to use a photo as the background for your infographic. Pick a photo that illustrates the topic or theme of your data. Then, use a transparent color overlay to help your text pop from the background. You can do this using the color picker tool in Venngage.

Renewable Energy Comparison Infographic Templates

14. Show preferences with a sliding rating scale

If you want to compare customer satisfaction, or preferences, or opinions on a topic, then there’s a good chance the answers won’t be black or white. Instead, people may fall somewhere in the middle.

A slider rating scale allows you to get an exact percentage rating. That’s why it’s often considered a more accurate way of rating customer experiences, as opposed to, say, simply asking people to rate something on a scale of 1-5.

Image Source

For example, this comparison infographic uses a slider rating scale to show where people stand in some of pizza’s most hotly debated topics:

Simple Food Comparison Infographic Templates

15. Visualize clusters of topics with a bubble chart template

Bubbles charts are a fun and creative way to group topics together. You can create a hierarchy of information by putting the most important information in the biggest bubble and the supporting information in smaller bubbles.

For example, this comparison infographic template uses two big circles to introduce the two types of animals (reptiles and mammals), and smaller bubbles to compare their various characteristics.

Animal Comparison Chart Infographic Templates

Another example of a bubble chart template is this simple one. You can see below that each bubble separates different ideas to explain a concept, and is also visually appealing. Within the bubble you can also add icons and images. Colors help to differentiate each idea.

Contrast Motivation Infographic

16. Create a short, digestible comparison infographic for social media

If you’re creating infographics for Instagram or Twitter, long designs won’t fit in those feeds. That’s why it’s worth it to create short, punchy infographics that focus on one interesting statistic.

Here’s an infographic marketing hack: pull a key statistic from a longer infographic and create a condensed version of the infographic for social media. That will give you an opportunity to point readers to the full infographic on your site.

For example, this social media graphic visualizes one surprising statistic:

Minimalist Product Comparison Infographic Templates

17. When in doubt, use a simple bar graph to compare data

If you’re concerned about overcomplicating your design, it’s perfectly fine to play it safe. A classic bar graph is a great way to compare data. Plus, there are still ways you can make the design more engaging than your typical Excel chart.

For example, emphasize certain data points with a different color. Or decorate your graph with icons that help to visualize the data:

product comparison in business plan

Take a look at how a darker shade is used to emphasize the total numbers on these bar graphs:

comparison infographic alumni employment status

18. Visualize concepts with easily understood icons

Icons allow you to visualize and represent information in one concise vector graphic. They’re both functional and decorative.

The key is to make sure that the meanings behind your icons are fairly easy to understand. Look for symbols that are commonly used to represent certain things — for example, a light bulb for ideas, or a paint pallet for art/creativity.

We’ve already looked at a bunch of examples of infographics that use icons to visualize information. Here’s another great infographic example of how icons can be used to visualize concepts:

Science Comparison Infographic Templates

19. Invert the color scheme for both options in your comparison infographic

Here’s another simple hack for a bold design: split your infographic down the middle and invert the color scheme on either side.

This kind of color scheme is particularly effective for visualizing diametrically opposing data. For example, look at how the inverted color scheme reflects day and night in this comparison infographic template:

Creative Data Comparison Infographic Templates

Or in this template, which contrasts virus and bacteria:

comparison infographic virus vs bacteria

20. Color code data to make it easier to scan your comparison infographic

Give certain metrics or types of information specific colors. That way, readers should be able to skim your infographic and understand it more quickly.

You can use this to showcase different plans in your product offerings, like in this product comparison template:

comparison infographic product comparison chart company plans

Or to compare different types of products, items or concepts, like in this comparison infographic:

comparison table different types of compost

Comparison infographics FAQ

What is the best chart for comparison.

A common problem you may face is figuring out which comparison chart choice is best for what you’re doing. This depends on what information you’re trying to display.

You can use a Venn diagram, for example, to visualize the similarities and differences between two or more items. This can also be done using a bubble chart. A table, on the other hand, is best to visualize the differences between several items, across different comparison categories.

How do you make a comparison between two products?

List the features down the middle of the infographic and compare two similar products. Include product shots to make the products more recognizable. Comparison infographics are useful to highlight the superiority of a product you’re selling, or to help people pick the best product for their needs.

How do you create a product comparison document?

To create a product comparison document, first list out the categories you’d like to compare the two (or more) products. This can be pricing, features, desired users (who the product is best for), when to use (or not use) the product, etc. Then, fill out the details for each category. The final step would be to visualize the document using a product comparison template like a comparison infographic!

Inform and persuade your customers using a visually engaging product comparison chart or infographic

Comparison infographics are not only useful in comparing and guiding your customers’ decisions — you can use these in training documents (showing how different departments can use the same tool), marketing materials (when you’re summarizing a blog post , for example), employee handbooks (comparing different tiers of company benefits), and more.

It’s easy to create a comparison infographic or product comparison chart with Venngage. Simply sign up for a free account and test out our drag-and-drop editor with a free comparison infographic template . No design experience required!

Learn how to design other types of infographics:

  • 20 Timeline Template Examples and Design Tips
  • 17 Statistical Infographic Templates to Help You Make an Impact On Readers
  • 10 Flow Chart Templates, Design Tips and Examples
  • 10+ Engaging Process Infographic Template Examples

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10 Best Free Comparison Templates for Products in Excel, Word, and ClickUp

Praburam Srinivasan

Growth Marketing Manager

April 16, 2024

Decisions. Are. Hard.

Trust me, I get it! In fact, they’re so hard that there’s a phenomenon called decision fatigue. After making decisions all day, every day, our brains get tired. And as they get tired, it gets harder to keep making good decisions. Ugh, I’m tired just thinking about that. 😴

But with easy-to-understand visuals, like a pros and cons list or a beautiful comparison chart, making decisions gets easier. And these visuals keep our brains accountable: There’s no accidentally picking the wrong thing when you can clearly see which is the right thing.

Using a comparison chart template helps us make better decisions or show potential customers why our product is the best decision. Let’s take a look at the 10 best comparison chart templates for ClickUp, Word, Excel, Google Docs, and Powerpoint.

What Is a Product Comparison Template?

What features to look for in comparison chart templates, 1. clickup product brief document template, 2. clickup infographic whiteboard template, 3. clickup comparison matrix template, 4. clickup software comparison template, 5. product price comparison template by edit.org, 6. microsoft word product comparison chart template by template.net, 7. powerpoint product comparison template by fppt, 8. excel feature comparison chart template by vertex42, 9. blank google docs comparison chart template by template.net, 10. powerpoint side by side comparison template by slidemodel.

Avatar of person using AI

A product comparison template is a chart or graphic that shows your options and their features side by side. The goal of this type of template is to help you visualize the best option from a stack of options.

It’s like if you had a stack of pancakes, but only one in the stack was a blueberry pancake: The comparison chart helps you clearly identify the blueberry pancake among all the plain pancakes so you can eat (or buy) the best one. 🥞

There are multiple uses for a product comparison template. If you’re on a product, sales, or marketing team, you can use it to show why your product is better than the competition. (After all, you make the blueberry pancake, compared to everybody else’s plain pancake!)

ClickUp T Chart Template

If you’re on an operations team, you can use a comparison chart to decide between different software products and choose the best one for your team’s needs. And if you’re just a regular person, going about your regular day, you can use comparison charts to make all sorts of life decisions.

Use comparison charts for things like which car to buy, apartment to rent, or what kind of takeout to order. 🥡

The best product comparison chart template for you will depend on what you’re going to use it for.

If you’re planning to primarily use it for internal purposes, then looks might not matter, and you can choose a no-frills table format. If you need to present it to potential customers in your sales meetings, then you’re going to want something that looks as snazzy as it performs.

Before you choose from all of the available comparison charts, keep the below features in mind. (They’ll help you compare comparison charts.) 🤯

  • Format: You can find templates for nearly every platform, from Google Sheets to Excel to Powerpoint. Choose a template that matches how you’re going to use the chart. If you’re going to use it internally, a Word Doc or Excel sheet may be fine. If you want to present it to customers, you’ll need a more visual platform
  • Icons: You may want to fill in your chart with checkboxes, or you may prefer to use a star rating system, or maybe you want to include written data points to provide more information. Choose a template that allows you to fill it in with icons or descriptions
  • Customization : If you’re going to present your product comparison chart, then you need to be able to customize it with branded colors and fonts and make your product visually stand out above the others

10 Product Comparison Templates to Use in 2024

Now that you know what you’re looking for in a comparison chart, it’s time to consider the options and pick a template that works for you. (If only there was a chart that could make this decision easier.) 🤔

Take a look at these 10 low-cost and free comparison chart templates, and dare to compare!

ClickUp Product Brief Document Template

The ClickUp Product Brief Document Template is designed for every stage of your product development process , from the initial idea through the launch. In an ideal world, you would start using this template the minute you have that lightbulb moment. 💡

But even if your product is fully built, this template will help you organize your product strategy ahead of launch. It’s a fill-in-the-blank document that walks you and your team members through the process of outlining your product’s key differentiators and functions.

You can embed files from your product design tools , add vector graphics, upload your data sets, and link to marketing assets, like your video tutorials, social media images, and a competitor comparison table.

This template will be your product bible. It’ll keep your team on the same page throughout your entire product process—from ideating to developing functional specs to releasing it to the world. And that level of organization will feel divine. 👼

ClickUp Infographic Whiteboard Template

This beginner-friendly comparison infographic template makes data visualization easier and so much better looking. (Just picture a cartoon character with its eyes popping out of its head as it shouts “AWOOGA!” and that’s the level of beauty I’m talking about.) 🤩

With the ClickUp Infographic Whiteboard Template , even small teams can create high-quality infographic designs—no full-time graphic designer required. You can build graphs, flowcharts, and Venn diagrams, plus upload your own high-resolution images, add your branded color scheme, and incorporate your own graphic elements.

You’ll not only get the tools you need to build your infographic but also the tools you need to manage your team. You can assign infographic tasks to different team members (have one person write the copy and another organize the visuals), and tag your stakeholders for approval when it’s done.

This product marketing template will give your team a clear visual of what needs to be done, and once it’s done, it will give your customers a clear visual of why they need to buy your new product. Just picture how easy it will be! 📸

ClickUp Comparison Matrix Template

The ClickUp Comparison Matrix Template makes decision-making easy. It’s a plug-and-play data comparison diagram. Once you plug in your data, you’ll want to play and play and play. 🎮

You can add the products you want to compare and see their features individually. Or you can use the table view to quickly transform your Comparison Matrix into a product comparison table template, displaying their features side by side.

Add information on key functions, price, location, customer service, and any other data points you want to include. Once you see how easy this template is to use, you’ll not only want to use it as a comparison chart maker to showcase your product as compared to similar products, you’ll also want to incorporate it into all your internal decision-making processes.

You can use this Comparison Matrix to decide on the best processes as part of your process mapping workflow. Or you can use it to choose the best software solutions for your team.

No matter what decision you’re making, this template will ease the strain on your brain. 🧠

ClickUp Software Comparison Template

When your company needs to invest in a new software program, the ClickUp Software Comparison Template helps you wade through features so it doesn’t feel like you’re swimming upstream. 🏊‍♀️

Software is one of the most important kinds of tools your company uses, and the right software will make your team more effective and efficient. But choosing the right software is hard. With this template, you can define your goals, remain objective, and stay strong—even when faced with very convincing salespeople. 💪

The template has categories for you to evaluate the price, performance, and user experience of different products. So whether you’re comparing AI tools for product managers , marketing automation software , or product management tools , you can see the product features side by side.

Then you can compare the installation and setup requirements. Or you can even add an image board to show the software’s interface.

Use templates like this one to discover the best software programs for your business.

Product Price Comparison Template

If you’ve got your money on your mind and your mind on your money, this Product Price Comparison Template will highlight the features included in different product pricing plans. 🤑

This is a great template to download for product teams that make freemium and subscription-based software. (Every software team needs a solid pricing page before their product launch !)

And while it’s clearly designed for that use case, we can think of a few more creative uses for it as well. 👩‍🎤

If you’re trying to decide between several software programs for internal use and price is a big factor in your decision, try using this template as part of your decision-making process. You can make sure you’re not just getting the best price, but getting the best features for the price.

Microsoft Word Product Comparison Chart Templates

If all you need is a simple comparison table template, this option could be for you. It’s basic but in a comforting way—kind of like a pumpkin spice latte. 🎃

List your products across the top, add product features along the side, and check off which options have those features. It won’t take long to set up and will give you a clear visualization.

This no-frills template is great for making internal decisions about which products to invest in, but it can also work on a product page—once you update it with your brand color scheme and fonts—for young companies that need to create something simple to get them started.

In addition to a Microsoft Word template, you can also download it as a Google Doc, an Apple Page, or a PDF file.

Powerpoint Product Comparison Template

Because this is a Powerpoint template, it makes a good addition to your pitch meetings and sales presentation slides. 📽️

Just drop it into a slide in your presentation deck, and get ready to convince your stakeholder or prospective buyer that you have the perfect product to solve their problem.

You can use this template to compare the features of different products, or you can customize it to compare different pricing plans on the same product.

This product comparison chart template is available with three or four columns so you can choose how many options you want to compare. And it has a stoplight color-coding system—red, yellow, and green—to help you visualize how good the features are on each product.🚦

Once you format this slide, you’ll be able to take one look and know which product is a go!

Excel Feature Comparison Chart Template

If you’ve been using basic Excel spreadsheets to compare products, this Excel template will be a big step up. 🪜

You can use it for a variety of comparisons—from showing how your product stacks up against competitors to outlining the features of different pricing plans—but it’s especially good for conducting a competitive analysis before you buy a new product.

This Excel template is highly customizable so you can rank features with a simple check or X (to indicate whether the product offers a feature or not), or you can use a rating system with star, diamond, pie chart, or bar chart icons. In addition, you can add text and numbers to elaborate on the features offered.

Plus, you can include as many product columns as you want, so this is a great template for comparing your options in a crowded field.

Blank Google Docs Comparison Chart Template

For another simple and straightforward option, this template provides a basic table format with all of the information left blank. You decide how you want to fill it in.

You can compare the software products your company might invest in, the houses you see on your house hunt, or the people you’re considering dating (like your life is a rom-com). 💏

Because the template is open-ended, you can also fill in the boxes however you choose. Add written information, checkboxes, stars, or a personal system of emojis that even a professional cryptographer couldn’t decode.

Product Comparison Powerpoint Template

This one is for the sales and marketing teams out there. Specifically designed to compare your company’s product to your competitors’, this Powerpoint template includes four slides that highlight your product more prominently than the competition— so your potential customers can clearly see who’s number one. 🏆

The template is designed as a Powerpoint slide so you can easily incorporate it into sales presentations. And the layout features a beautiful, professional-looking design, so everyone will think you hired a designer to put it together for you.

You can outline your product’s key features and compare them to your competitors’ with simple Xs or checkmarks, or you can use a scatter plot to show how the quality of your product compares to the rest of the market.

This template is also available in a Keynote or Google Slides format.

Make Better Decisions With Comparison Templates

A good comparison can help everyone make better decisions.

Whether you need a product comparison template to make internal decisions easier or to show potential customers why your product is the best decision for them, the product comparison templates above will help you visualize all the options. 👀

To get more inspiration as you make your comparison chart, check out how ClickUp compares to the competition. Once you see how easy it is to use ClickUp’s free templates and visualize your data in multiple formats, you’ll realize there’s really no comparison.

Sign up for ClickUp today .

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product comparison in business plan

How to Build a Product Comparison Page (Best Practices)

Milan Jovanovic

  • January 7, 2024

product comparison in business plan

Ever found yourself in an endless loop of tabs, juggling a dozen online reviews and retailer sites, all to figure out the  best gadget  that fits your needs and wallet? You’re not alone. It’s like a riddle wrapped in a mystery inside an enigma—except, maybe, not as dramatic.

Look, picking the right product is no picnic,  especially  with a bazillion options out there. That’s the whole deal with  product comparison pages . They’re a game-changer. Lightbulbs go off when shoppers see products side by side, breaking down the perks and quirks— clearly .

Now, how about we flip the script? Instead of just using these comparison charts, how about  building one ? That’s right, you’ll learn to craft a page that puts products head-to-head so buyers can make snappy, savvy decisions.

By the end,  you’ll know  the A to Z of setting up a comparison matrix that’s as easy on the eyes as it is helpful.

Think detailed reviews, pricing strategy, and user testimonials, all in one spot. No tech wizardry, no jargon, just plain talk and practical steps. Ready to unravel the art of the comparison? 

Things to Know About a Product Comparison Page

When creating comparison pages, you should always think outside the box. It doesn’t work simply to present the difference between two products or services, but it also aids in potential client’s decision-making. By placing the product’s or service’s specification side-by-side, you give better ideas on choosing the right one, since these customers have their own preferences.

What is a Comparison Page?

A comparison page is a webpage or document that presents a side-by-side evaluation of different products, services, or ideas, highlighting their features, benefits, and drawbacks to help users make informed decisions.

It explains the two products’ features individually, citing their benefits and relevance to a specific customer . Comparing two products will also cite the better option, backed with evidence and functionalities presented on a page or table.

A Product Comparison is a simpler version of Competitor Analysis . It compares two products in a way that the readers can grasp instantly.

Having a Product Comparison enables you and your visitors to see if your featured items or custom products are better than your competitor companies or businesses.

How to Make an Efficient Product Comparison Page

product comparison in business plan

When creating a product comparison page , you need to do it according to your visitors’ preferences. Here are the things to put on a product comparison page to make it more enticing:

  • Make a bulleted list to showcase the main characteristics of the product or service.
  • The comparable products’ overview of the similarities and differences.

Taking note of these two essential vital factors of a successful product comparison page.

How to Compare Two Different Products

product comparison in business plan

When differentiating two different brands or products, your descriptions should be clear. You have to study the products first, including their features and new updates , to give your web visitors precise details.

Know the deciding factor of your customer, and that’s when you will know the essential characteristics you need to input in a product comparison page. Although it sounds easy, knowing the customers deciding criteria is challenging.

How to Create a Great Product Comparison Page

Use comparison tables–the different types.

Evaluating one product from another can use varied methods. Thus you need to use different strategies , including the different types of comparison tables that will work best for comparing the products.

Product Comparison Checklist

With this type of product comparison table, you can create a list of features in both of the products’ columns and use the check or cross sign to let the people know which of these two products has the features written in the table.  

Quantitative Product Comparison Table

product comparison in business plan

You might want to present a more in-depth comparative report about the product. There’s a hierarchy in the Quantitative Product Comparison Table, wherein you can designate the products to their relative importance. The Product Manager will give scores from 1-10 at the feature level. At the bottom of the table, the Product Manager will total the score from the products from each feature portion.

Qualitative Product Comparison Table

Here is the simpler version of Quantitative . For each feature, the Product Manager will decide the product’s score. The best outcome will receive “1”, while the other products will receive “0”. You need to cite all the features connected to the items you present. The one with the highest number of wins will be the winning product.

Use Only Five Items or Less in Your Comparison Table

product comparison in business plan

Having more than five items to compare in a comparison table can only lead to confusion. Limit the products or choices to make it easier for the visitors. If you found more than five similar items in different brands, you can narrow them down and evaluate them to make fewer options on a comparison page.

One of the ideal styles of comparison tables or pages is static. It promotes simplicity, and potential customers can see the new features right away. If you have more than five items, then reconsider using a static comparison table.

Using five options can also overwhelm web users. It is better to narrow it down to fewer numbers. Apart from more numbers confusing the customers, it also makes the layout less appealing. With more products on the table, you need to compress the details into a single table.

Consider how the number of items in a table can affect the layout and readability. Most comparison tables nowadays only accept less than five items. Another thing you need to take into consideration is the user’s device or browsers. If you want to make it mobile-friendly, you need to reduce the number to a single table.

Do a Research

Research is a crucial part of Product Comparison as to how it is also vital in Competitor Analysis . You can use online tools or materials to supply your research and make it successful. These marketing tools are marketing collateral and the web.

You cannot review or compare a product without trying it yourself. So, before you start comparing, ensure that you have enough research, supported by many testimonies. Buy the product, or if your website is already well-known, you can ask the company to sponsor you in return for advertising their product.

When you subscribe to a service, you might want to finish the subscription before creating a comparison chart. Trying the subscription or the product firsthand will help you review in being unbiased in comparing one item to another. You can also record them and see how it affects you in the long run.

If you don’t have the luxury of buying all the products you want to compare, you can ask your friends and other individuals who purchased them. Thus you gain the required knowledge of its functions and features.

Research using Google and look for authority websites that review the product. You can use the product’s name and type the ‘vs’ before the competitor’s name. There would be more suggestions, but be careful in looking for the articles because you’ll find paid or sponsored websites.

Take Note of the Formatting

The details or features aren’t the only important things in creating a great product comparison page. Visual appearance is a significant factor in attracting web visitors and customers . However, in the case of the product comparison table, the formatting should be clear and straightforward , rather than adding unnecessary details that would confuse the readers.

Make the texts easier to read and scannable . Don’t present too much of the product’s descriptions, details, and features. Using tables enables you to summarize the characteristics instead of adding more unnecessary words or phrases. One great way to do this is by embedding an informative interactive Flip Book to make the information easily accessible and aesthetically pleasing without being overwhelming.

Here are the pointers in formatting a product comparison page: 

product comparison in business plan

  • Make your description clear and concise. Use bullet points to separate features, if necessary.
  • Place the similar features on top, followed by the unique and exclusive details about the products.
  • Compare products with distinct features, so the buyers will know that they benefit from choosing one item.
  • Know the customers’ deciding factor. Research what they need, why purchasing the items can be beneficial to them. Take note that the deciding factors differ from one audience to another.
  • Include other essential product details, such as the seals of excellence, ratings, and warranties.
  • If you decide to compare two similar products with varying brands, stress how the other item overpowers the competitor brand.

Present Reviews and Real Life Customer Testimonies

Do not fabricate customer testimonies. Instead, look out for these reviews from other users and incorporate them on your product comparison page. When a visitor encounters your website, it is natural to feel skeptical at first. That is why it is crucial to build a foundation and enhance your reputation with potential clients.

You can build trust by having security seals, customer logos, awards, case studies, and customer testimonials .

Two Strategies in Incorporating Customer Testimonials:  

Use more generic testimonials..

It’s challenging to find up-to-date testimonials. To make these reviews more sustainable, you need to look for generic reviews than looking for the reviews made two years ago . Crowdsource reviews and statistics from different people, then keep them up-to-date.  

Use Targeted Testimonials

On individual comparison, you are comparing the product to its competitor. You can present a real-life situation where a customer transitions from using the competitor’s product to the item you are advertising.

For targeted testimonials, you can partner with influencers who can review your product. This review would reach a massive audience and can also be repurposed as a testimonial. The influencer’s authority adds even more credibility to the testimonial. However, while selecting the influencers, make sure that you use an influencer audit tool to figure out if the influencer has real or fake followers.

It is also important to make sure the influencers have a deep knowledge of your niche and are truly interested in what your business offers. If you are a crypto startup, look for NFT influencer marketing agencies that understand the intricacies of the crypto industry can significantly enhance the effectiveness of your influencer marketing campaigns.

Where to Get Reviews Online:

  • External Word of Mouth (WOM): The testimonies located on third-party websites.
  • Internal Word of Mouth (WOM): This is the business website’s reviews.

Consistency is The Key

product comparison in business plan

Be consistent in everything you put in the comparison table while ensuring the content is optimized for SEO . Although completing the attribute information should be the priority, designs will make it look visually attractive. For that purpose, you can even use the help of product retouching services .

If you are inconsistent or incomplete in giving details, everything will be useless. This is highly important, especially if you are comparing products with slightly different metadata.

One of the challenging parts of making this comparison table is differentiating one technical product from another. This type of item needs a lot of text, details, features, and specifications. In this case, you need to be consistent in everything you put in the comparison table.

Your table should also have a visually appealing background to entice more customers or clients. Take note of the product’s name and specification, and see how the comparison pages have no empty cells.

Despite the challenge of presenting the products efficiently, do your best in completing and being consistent with the comparisons. As a result, your website will build more credibility.

Let The Clients Focus on The Essential Details

Don’t put too much focus on the less important things. Ensure that the product comparison page supports scannability , allowing the viewers to scan the differences, keywords, and similarities of the products.

You can make this possible by sticking to the standard layouts and designs, which are the attributes as rows, options as columns, row labels on the left, and the column labels above. In each column, only use consistent text alignment.

Texts should be short and concise , giving the main points or features of each item. If possible, only use phrases or single words.

Another strategy to make the table scannable is by using color-coding. You can set a different color for each column’s backgrounds and another shade for the texts of the cells. Maintain the right amount of contrast, so you do not compromise the text readability.

Place the Most Preferred Product or Pricing Option at The Center

product comparison in business plan

Putting the most preferred product at the center invites interest from the public. It is easier to view, and you can highlight its premium features.

According to the studies, people focus more on things in the middle. This is what they called the “Center Stage Effect”.

When you observe the subscription service, you can see three tiers of options . They are basic, mid-range, and premium .  Sometimes, they add more subscription options, which is the business plan. Whichever you want to put in the center of attraction, don’t forget to use the “Center Stage Effect” strategy.

Make Your Product Comparison Page SEO-Friendly

With hundreds of competitors online, your website should stand out from others. When you create a page like this, you need to ensure that people can find it in the search engine results pages.

Keep updated with the new SEO rules and standards . For example, if your keyword is [Your Brand/Product] vs [Your Competitor], then you have to optimize and include them on the following:

  • Meta Description
  • Within the first 100 words of the article’s introduction
  • Image’s Alt Text

Create a great first impression by writing an enticing meta description. You can begin by asking a question or starting a phrase that most people are curious about to invite them to see what your page could offer.

Internal Linking

Another SEO technique to optimize your website is internal linking .

Search on the website for pages related to your new comparison page. Examine your Google Analytics reports to see what Google indexes more than others.

Link Building

Asking others to link your website in their article or web content can benefit your SEO score. If you have read a particular article discussing your product, service, or page, you can contact the owner and ask to link them to your product comparison page. Alternatively, if this doesn’t work and you want to get quality links, you can outsource this task to an SEO agency .

You can find a discussion regarding your website in Reddit, Quora, Forums, and Blogs. If possible, offer an affiliate program that will give sales percentage to the website owner when some click a link to your comparison page from their articles or content.

Make Your Product Comparison Page Intuitive

product comparison in business plan

When you make your visitors involved with your website, they will want to scroll through the pages and see your offer’s products and services. If your website has too many attributes, the users will find it hard to compare several products.

As a result, they will go back and forth to find each product or item’s features and specifications. To make it more intuitive, enable them to choose the attributes they want to see in the table . This feature needs collapsible rows to make it possible. You can place another feature, wherein the users can choose to hide similar specifications.

Find out their deciding factor and highlight them on your product comparison page. Remember that you don’t have to put all the product’s features and specifications on the table. Only include those ones that visitors need.

Focus on Your Product Rather Than Your Competitor’s  

Here are the things to keep in mind to avoid unknowingly promoting competitors:

Include the Trademark

The trademark will serve as the ownership of the competitor’s company. Don’t skip the R symbol.

Don’t Use Competitor’s Logo.

You can use their brand name rather than their logo. However,  make sure that it is in the proper spelling with correct uppercase letters.

Provide Evidence

Link the competitor’s website on the product comparison page to eliminate visitors’ skepticism.  

Specify the Comparison’s Date

When you specify the comparison’s date, you will give the readers ideas of when it took place. That will show how updated the information is on your page.

FAQ about product comparison pages

What elements are essential for a product comparison page.

Product comparison pages thrive on simplicity— clear comparison criteria, like price, specs, and user ratings. You need a comparison chart that’s easy to navigate, product photos, direct links to purchase, and QR Codes for quick access to additional product information. Remember, a compelling call-to-action (CTA) can turn a visitor into a buyer, pronto.

How Do I Choose Which Products to Compare?

Start with your target audience. What are they searching for? Pick products that are directly competing or serve similar purposes. Scope out the top-selling items, trending goods, and those with significant user traffic. A mix of popular and niche items can juice up the utility of your page.

Can I Automate Product Comparisons?

Absolutely. There’s software out there that can pull data feeds directly from product databases. These can update your comparison matrix in real-time. But keep an eye out—automation’s neat, but it’s gotta be accurate. Tweaks may be needed to ensure your user testimonials and feature breakdown hit home.

What’s the Best Layout for Comparing Products?

Go for a layout that screams clarity: think side-by-side comparisons or a grid format. Picture this: products on the left, comparison criteria up top—users can eye-scroll down the line and quickly spot differences. Throw in filters for a user-customizable experience and you’ve got winner.

How Can I Make My Comparison Page SEO-Friendly?

Sprinkle some magic SEO dust with detailed reviews, product showdowns, and ranks. Use those SEO entities and LSI keywords like gold dust across your content. A splash of semantically relevant keywords related to your products will help search engines and users find your comparison haven.

How Do I Highlight the Best Choice on a Product Comparison Page?

Light up the best pick with an expert opinion badge or a ‘top choice’ highlight. Visual cues—like a star rating or a contrasting color for the winning features—draw the eye. But remember, keep it unbiased! Users appreciate quality assessments over a hard sell.

What Should I Avoid When Building a Comparison Page?

Keep it tidy. Sidestep clutter. Dodge the technical jargon trap—speak in plain language. Avoid the temptation for a bias or under-the-table brand favors. And hey, too many ads? It’ll swamp your content. Balance is key.

How Do I Ensure the Information on My Comparison Page is Accurate?

Fact-check like a detective. Double-down with manufacturers’ data and verify through reputable sources. Customer feedback loops are solid gold for real-time accuracy. Regularly updating your comparison tool keeps things fresh and dependable.

How Can I Encourage Users to Engage More With the Comparison Page?

Unleash the power of interaction. Embed a tool allowing users to pick their preferences for personalized comparisons. Fuse in some discussion forums, Q&A sections, and user testimonial highlights. Let them have a voice, and they’ll stick around for the conversation.

How Do I Analyze the Success of My Product Comparison Page?

Track, measure, learn. Keep tabs on metrics like page views, bounce rates, and time spent on the page. Dig into conversion rates—how many users click through to purchase after hitting your comparison page. Hitch on A/B testing to finetune and adapt for peak performance.

Alright, let’s wrap this up. We’ve been down the road learning  how to build a product comparison page  – from nabbing the right features and layout to adding that secret sauce of SEO smarts. You got this. You’re now equipped to make that nifty page where choices pop and decision-making is a breeze.

Picture your page – sleek, easy, and helpful. It’s not just about slapping products next to each other, but crafting a space where value’s clear as day, and buyers nod, thinking, “Yup, that’s the one.”

Bottom line: Keep it up-to-date, make it trustworthy, and user-friendly. That’s the ticket. Keep tweaking, keep shining, and watch as that comparison page becomes the go-to spot for the savvy shopper’s showdown.

So go ahead, launch that comparison chart into the wild. It’s prepped, primed, and ready for the spotlight.

If you liked this article about product comparisons, you should check out this article about how to publish an Excel spreadsheet on the web .

There are also similar articles discussing examples of data tables , how to make a data table , pricing table examples , and statistical tables .

And let’s not forget about articles on weather tables , comparison tables , table UI design , and WordPress Excel spreadsheet plugin .

Milan Jovanovic

  • Milan Jovanovic

Product Lead

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Blogs & articles, how to write a pricing strategy for my business plan.

In this blog you will learn about the importance of choosing the right pricing strategy for a successful business plan.

product comparison in business plan

Why is a pricing strategy important for a business plan?

A business plan is a written document outlining a company’s core business practices – from products and services offered to marketing, financial planning and budget, but also pricing strategy. This business plan can be very lengthy, outlining every aspect of the business in detail. Or it can be very short and lean for start ups that want to be as agile as possible.

This plan can be used for external investors and relations or for internal purposes. A business plan can be useful for internal purposes because it can make sure that all the decision makers are on the same page about the most important aspects of the business.

A 1% price increase can lead to an 8% increase in profit margin.

A business plan could be very lengthy and detailed or short and lean, but in all instances, it should have a clear vision for how pricing is tackled. A pricing strategy ultimately greatly determines the profit margin of your product or service and how much revenue the company will make. Thorough research of consultancy agencies also show that pricing is very important. McKinsey even argues that a 1% prices increase can lead up to an 8% increase in profits. That is a real example of how small adjustments can have a huge impact!

It is clear that each business plan should have a section about pricing strategies. How detailed and complicated this pricing strategy should be depends for each individual business and challenges in the business environment. However, businesses should at least take some factors into account when thinking about their pricing strategy.

What factors to take into account?

The pricing strategy can best be explained in the marketing section of your business plan. In this section you should describe what price you will charge for your product or service to customers and your argumentation for why you ask this. However, businesses always balance the challenging scale of charging too much or too little. Ideally you want to find the middle, the optimal price point.

The following questions need to be answered for writing a well-structured pricing strategy in your business plan:

What is the cost of your product or service?

Most companies need to be profitable. They need to pay their expenses, their employees and return a reasonable profit. Unless you are a well-funded-winner-takes-all-growth-company such as Uber or Gorillas, you will need to earn more than you spend on your products. In order to be profitable you need to know how much your expenses are, to remain profitable overall.

How does your price compare to other alternatives in the market?

Most companies have competitors for their products or services, only few companies can act as a monopoly. Therefore, you need to know how your price compares to the other prices in the market. Are you one of the cheapest, the most expensive or somewhere in the middle?

Why is your price competitive?

When you know the prices of your competitors, you need to be able to explain why your price is better or different than that of your competitions. Do you offer more value for the same price? Do you offer less, but are you the cheapest? Or does your company offer something so unique that a premium pricing strategy sounds fair to your customer? You need to be able to stand out from the competition and price is an efficient differentiator.

What is the expected ROI (Return On Investment)?

When you set your price, you need to be able to explain how much you are expeciting to make. Will the price you offer attract enough customers to make your business operate profitable? Let’s say your expenses are 10.000 euros per month, what return will your price get you for your expected amount of sales?

Top pricing strategies for a business plan

Now you know why pricing is important for your business plan, “but what strategies are best for me?” you may ask. Well, let’s talk pricing strategies. There are plenty of pricing strategies and which ones are best for which business depends on various factors and the industry. However, here is a list of 9 pricing strategies that you can use for your business plan.

  • Cost-plus pricing
  • Competitive pricing
  • Key-Value item pricing
  • Dynamic pricing
  • Premium pricing
  • Hourly based pricing
  • Customer-value based pricing
  • Psychological pricing
  • Geographical pricing

Most of the time, businesses do not use a single pricing strategy in their business but rather a combination of pricing strategies. Cost-plus pricing or competitor based pricing can be good starting points for pricing, but if you make these dynamic or take geographical regions into account, then your pricing becomes even more advanced!

Pricing strategies should not be left out of your business plan. Having a clear vision on how you are going to price your product(s) and service(s) helps you to achieve the best possible profit margins and revenue. If you are able to answer thoughtfully on the questions asked in this blog then you know that you have a rather clear vision on your pricing strategy.

If there are still some things unclear or vague, then it would be adviceable to learn more about all the possible pricing strategies . You can always look for inspiration to our business cases. Do you want to know more about pricing or about SYMSON? Do not hesitate to contact us!

Do you want a free demo to try how SYMSON can help your business with margin improvement or pricing management? Do you want to learn more? Schedule a call with a consultant and book a 20 minute brainstorm session!

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What is a product plan and how to create one in 6 steps

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Whenever I read about the next hot, new start-up with unicorn potential, I can’t help but think of Pinky and the Brain .

What Is A Product Plan And How To Create One In 6 Steps

Both titular characters in the mid-90s animated TV series are genetically modified laboratory mice. Brain is hyper-intelligent; Pinky, not so much.

Brain’s primary objective? World domination:

Pinky : Gee, Brain. What are we going to do tonight? Brain : The same thing we do every night, Pinky. Try to take over the world.

In each episode, Brain devises a diabolical yet half-baked plan — for example, manipulating the world’s biggest magnet to form discarded satellites to spell “Brain is your ruler” — that invariably ends up foiled.

What does this have to do with product management?

Devise a product plan to take over the world

If you want to make an impact with your product and solve all your customers’ problems, don’t be like Brain; take the time to devise a product plan before you make your first move on your quest for market domination.

Creating roadmaps and backlogs is a great start, but product planning covers a much wider scope.

In this guide, we’ll define what product planning means, why it’s important, and the components and steps involved in creating a product plan.

What is a product plan?

Product planning covers all the steps, activities, and decisions a company must perform and make to develop a successful product.

A product can be defined as an input-outcome device. The input is the customer value proposition and the outcome is the company’s profit. Product planning includes everything you need to do internally to get from input to outcome.

It starts with a recognized customer need — after all, customers don’t just buy a product, they buy what the product will do for them to solve a problem they are having. It ends when the product has reached the end of its usefulness from a business perspective.

What is the purpose of product planning?

Product planning encompasses the actions and components that contribute to achieving a specific outcome. Product management is all about realizing outcomes.

Before jumping into the how and what, let’s first understand why product planning is important by outlining its six objectives:

  • Company survival
  • Meet customer needs
  • Increase sales
  • Understand and manage strengths and weaknesses
  • Better manage capacity
  • Plan effectively

1. Company survival

The eye of the tiger, survival of the fittest — or as P. Diddy said, it’s all about the Benjamins .

Product planning allows you to focus, remain viable, and understand your ability to innovate. It also helps you clarify how to introduce, grow, and sunset products in highly competitive markets.

2. Meet customer needs

The customer is at the heart of any product. Thorough product planning will set you up to understand and meet your customers’ needs. This, in turn, helps you quickly move customers from evaluators to champions through the product-led growth flywheel .

3. Increase sales

Your product can be lightyears ahead with brilliant solutions to customer problems, yet if they are not interested in the solution and don’t buy the product, your product fails.

For example, virtual reality seems to have finally found product-market fit . VR technology though, is not new.

In the 90s, VR was on the rise and forecasted sales potential was off the charts. Unfortunately, VR systems such as the Virtual Boy failed to deliver; its poor ergonomics and underwhelming stereoscopic effect gave users terrible headaches.

With better product planning, Nintendo might’ve been able to craft a more sophisticated product that satisfied customer expectations and, as a result, increased sales.

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4. Understand and manage strengths and weaknesses

Product planning allows you to look introspectively and analyze your strengths and weaknesses in light of market requirements. What does your product do really well? What qualities distinguish it from competitors? What does your product lack and what do competitors do better?

By asking and answering questions like these, you’ll gain a better understanding of what you can take advantage of and what you need to improve in your product.

5. Better manage capacity

What’s one thing every company has in common? Limited resources in terms of capital, material, and human resources. Product planning enables you to plan these optimally and get the most out of them.

6. Plan effectively

When you’re building products, you have many competing priorities . Will you invest in new features, enhance and improve existing ones, reduce technical debt , or spend more time on improving discovery and delivery processes ? Product planning allows you to meet your long-term strategic plans.

6 considerations for product planning

Now that we understand why product planning is essential, how do you go about doing it?

Creating a successful product plan involves the following considerations:

  • Research before development
  • Choose a delivery method
  • Coordinate activities
  • Set a price
  • Commercialize the product
  • Abandon unprofitable products

1. Research before development

Energy to get going: Check. Confidence it will work out: Check.

Validation that the idea will deliver what customers need? [Buzzer sounds].

Before jumping into the deep end of product development, start with extendive market and user research. The insights gathered therein will help you establish what characteristics and requirements your product must fulfil to meet customers’ needs.

2. Choose a delivery method

All roads lead to Rome. The question is, which is the most efficient?

This is even more applicable when it comes to product delivery. Which delivery method will enable you to develop your product or feature exact how the customer needs it to be?

3. Coordinate activities

Product planning aims to coordinate all the initiatives and activities around the product and its investments. Doing so allows you to improve your competitive position and strive for market leadership. It also helps you quickly respond to changing market conditions.

4. Set a price

Product planning helps you determine the ideal price point for your product.

More great articles from LogRocket:

  • How to implement issue management to improve your product
  • 8 ways to reduce cycle time and build a better product
  • What is a PERT chart and how to make one
  • Discover how to use behavioral analytics to create a great product experience
  • Explore six tried and true product management frameworks you should know
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The insights gathered during product planning can help you determine the best pricing strategy. For example, is your product most suitable for value-based, competitive, price skimming, cust-plus, penetration, economy, or dynamic pricing?

5. Commercialize the product

Product planning helps you uncover and validate the viability, feasibility, and desirability of your product.

Desirability speaks to satisfaction of customer needs and the commercialization of the product. This measure helps you ensure viability and, hopefully, rake in profits.

Product planning also considers how to best introduce the product to the market and continuously measure success post-launch .

6. Abandon unprofitable products

All good things eventually come to an end. Every decision in a product is a business decision, and there will come a time that further investment in a product or product feature becomes unprofitable.

At that point, a decision has to be made whether or not to sunset the product or feature.

Good product planning throughout the product lifecycle helps you recognize when it is time to abandon the product and sunset it in a structured way with minimal impact on customers.

How to create a product plan in 6 steps

OK, enough small talk. It’s time to deep-dive into the product planning process.

Product planning involves six steps:

  • Market and user research
  • Concept ideation
  • Screening and testing
  • Introduction and launch
  • Product lifecycle

How To Create A Product Plan In 6 Steps

1. Market and user research

Before you start to build, it’s crucial to understand the problem you’re trying to solve, the market drivers, competitors, and customer needs. You can generate insights on all of the above through market research.

Competitive analysis , a subset of market research, is a structured approach to identifying and analyzing competitors.

Both are conducted to identify markets, investigate market positioning , and analyze the business’s success.

Through customer segmentation research, which is especially important to new businesses, larger customer groups are divided into different groups with personas.

The personas form the basis of user research, which is aimed at understanding potential customers’ problems, habits, interests, motivations, and more.

2. Concept ideation

A great product starts with a great concept and initial validation of that concept. This step is arguably the most fun and creative step.

During the concept development stage, you define what you are trying to build by figuring out how well it solves the identified problem, how easy it is to use, what it will cost the customer, the look and feel of the application, and so on.

A key step in this process step is product discovery and a continuation of user research, which enables you to uncover the problems the persona faces and the solution to aim for.

Concept ideation sources can be both external and internal. Externally, market and user research influence concept ideation. Internally, concept ideas originate from sales, customer support, marketing, engineering, designers, user research, executives, and investors.

3. Screening and testing

During screening and testing, the ideas generated during the concept ideation phase are critically evaluated.

The goal is to groom out ideas that are either inconsistent with the product vision , undesirable, and/or impractical.

After evaluation, the next step is to rigorously prioritize ideas . As the Highlander said, “ There can only be one .” This is not to say you should only test one idea; it just means you should pursue the most promising tests first.

There are plenty of prioritization frameworks to choose from with some of the most commonly used include:

  • Value vs. effort
  • MoSCoW method
  • Opportunity scoring

Once you have a prioritized list, you should devise a hypothesis and experiment to verify or disprove it.

In product testing, customers are given an opportunity to try a prototype. This helps you understand whether customers understand the product idea, what they like or dislike about it, and whether they would ultimately buy and use it.

The concept ideation, screening, and testing as a whole are often covered in the Double Diamond approach, which is a design process to help you discover, define, develop and deliver solutions.

4. Introduction and launch

After a few iterations of screening and testing, the new features and usability improvements deemed ready to pursue and develop trickle through and are ready for development and launch.

In this step, the idea is converted into a product. It’s the PM’s job to schedule activities to ensure a successful product launch with a high adoption rate .

When ready, the product is launched and commercialized. If your product planning is sound, it should be poised to compete with existing products and maximize market share and profits.

5. Product lifecycle

After the product is launched, the real fun begins. Now it’s time to measure and analyze usage to gather new insights about whether or not your product launch was successful.

Using these insights, you can modify and enhance the product, introduce new features, improve usability, and help the product move from introduction to growth.

At a certain point, you’ll reach product maturity. The number of customers and sales will stabilize. Eventually, new investments in the product will have a harder time generating additional revenue. It will become increasingly challenging to compete.

Eventually, the product will decline, and the number of customers and sales along with it. This might be due to existing competition or the introduction of new products that are more advanced and better serve the customer’s needs.

Think about how the Walkman was surpassed by the Discman, which was overtaken by the mp3 player, and, eventually, an app on your phone.

6. Sunsetting

When a product is in decline, it’s time to sunset it. Sunsetting is also known as the end of life and usually involves deprecating the product.

Though it might feel difficult to say goodbye to a product that you birthed, nurtured, and watched grow, sunsetting a product is a perfectly natural part of the product lifecycle.

During the sunsetting phase, it is important to be diligent. You should devise a playbook or checklist to ensure all activities, such as communication, code clean-ups, and so on are covered during the end-of-life period.

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Business Plan Vs Strategic Plan: What’s the Difference?

  • May 6, 2024

Business Plan vs Strategic Plan

Strategic and business plans are both different sides of the same coin! Some entrepreneurs use it interchangeably but they have a significant difference.

Now the question might arise, when to use which, and what is the difference, right?

Worry not—we’re here to guide you through it all. In this article, we’ll learn the differences between a business and a strategic plan, understand their meanings, and know how to use them effectively.

So, let’s kick-start this journey by exploring a business plan vs. strategic plan . Get ready to unlock everything about both!

What is a Business Plan?

A business plan is a written document that outlines a company’s goals, timeline, finances, and strategies for achieving them. It provides a roadmap for the future of your business.

Generally, it includes sections such as an executive summary, company description, market analysis, products & services, financial plan, and much more. Your business plan is a must-have document when it comes to securing funds for your business.

Okay! And what about the strategic plan?

What is a Strategic Plan?

A strategic plan is a document that communicates an organization’s vision, mission, and core values. It focuses more on specifics about how a business will operate and generate profits.

Strategic plans are typically long-term documents, covering a period of three to five years or more, and are used to guide decision-making and resource allocation within the organization.

Key Difference Between a Business Plan and Strategic Plan

It was all about the basic definition of business and strategic plan. Now, let’s compare them side-by-side to understand their use case, and how they are distinct from each other:

Level of detail

A business plan is usually considered a granular and in-depth document. It outlines the tactics and actions necessary to achieve operational objectives. Business plans are usually 15-30 pages long .

A strategic plan typically provides a high-level overview of the organization’s goals and the strategies to achieve them without going deep into the business operations. Strategic plans are generally 10-15 pages long, but the length depends on various factors of the business.

Time horizon

A business plan focuses on a shorter time frame, often one to three years, and is more operational. It focuses on things like product development, marketing strategies, financial projections, etc.

A strategic plan answers the questions related to a longer time frame, usually five or more years. It sets the direction of the company for the future by mentioning the mission, vision, and objectives.

Audience and use

A business plan is primarily used to attract investors, bankers, or partners for securing funding or partnership.

Whereas, internal members, such as senior management or a board of directors, use a strategic plan to guide decision-making.

A business plan explains all the sections like market analysis, products & services, management team, target market, sales & marketing strategies, financial projections, and more.

While a strategic plan has a vision statement, mission statement, core values, action plans, and more. Some of the strategic planning models are SWOT analysis, PESTLE (political, economic, social, technological, legal, and environmental) analysis, Porter’s five forces, and more.

Entrepreneurs and startups use business plans to create a strategy to build a successful business. It is used for assessing how marketable a business idea is and also helps them gauge how they can get the funding to turn this idea into reality.

Established companies use the strategic plan to give them a clear direction for where they want the company to change or develop.

For instance, decisions like changing the products they provide or moving into a nonprofit can be made with the help of a strategic plan.

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Now that we know the key differences between strategic and business planning, let us understand the common pitfalls. 

Common Pitfalls in Execution

Despite the benefits of business planning as well as the strategic planning process, organizations often face many challenges in their strategy implementation. Here are some common pitfalls:

Disparity between strategy and execution:  Without effective execution, even the strategic plan that is the most well-crafted may fail to give results.

Lack of alignment:  Failure to align the business plan with strategic objectives often results in missed opportunities and misallocation of resources.

Inadequate marketing analysis:  Insufficient analysis of external factors leads to missed opportunities or strategic blind spots that can cause more harm to a company.

To overcome these challenges, organizations need to foster a culture of communication, continuous improvement, and collaboration.

The Bottom Line

There is no one-fits-all solution when it comes to this decision! Choosing between a business and a strategic plan solely depends on the needs & objectives of your business.

Moreover, know this planning is not a one-time process! As your business evolves and external factors change, you will need to revise your plans accordingly.

A business and a strategic plan are crucial for guiding any organization to success. By using both methods effectively, businesses can navigate uncertainties, achieve steady growth, and grab opportunities in a constantly changing business world.

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Frequently Asked Questions

Which comes first, strategy or business plan.

Before making a business plan, you should create a strategic plan. A business should know all its long-term growth goals before actually defining how to reach them.

So, first, create a strategic plan, then a business plan, and then edit both of them when needed according to the circumstances.

Can a business plan be used for a strategic plan?

No, both are different. While a business plan details the operational and financial aspects of a business, a strategic plan defines goals and the strategies to achieve them. Therefore, serving different purposes, a business plan can not be used to make a strategic plan.

Is there a sample business plan or strategic plan template available online?

Yes, there are many sample business plans and strategic plan templates available online. You can find such templates on:

  • Upmetrics – An AI-powered business plan software
  • Small Business Administration Website
  • SCORE business plans

Do I need both a business and strategic plan?

Yes, both a business plan and a strategic plan are essential for a company’s growth. A business plan focuses on the initial stages of a business, aiming to get it started. In contrast, a strategic plan focuses on the business’s distant goals and strategies to achieve them.

About the Author

product comparison in business plan

Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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IMAGES

  1. How to Create a Business Plan (7+ Business Plan Templates)

    product comparison in business plan

  2. Comparison pricing list. Comparing price or product plan chart compare

    product comparison in business plan

  3. How to Create a Business Plan (7+ Business Plan Templates)

    product comparison in business plan

  4. Business Plan Comparison Chart With Per Month Price

    product comparison in business plan

  5. 30+ Product Comparison Infographic Templates + Design Tips (2023)

    product comparison in business plan

  6. Comparison table. Graphs for product compare. Choosing and comparison

    product comparison in business plan

VIDEO

  1. Low Cost Business Idea In 2024

  2. The Business Plan Series: Product or Service Description

  3. Business Model Vs Strategy

  4. Product management in startups vs. Big companies: Which one is better?

  5. What Is a Business Plan?

  6. Power BI or Tableau? which to choose?

COMMENTS

  1. How to Write a Detailed Product Description for a Business Plan

    This section of your business plan is meant to explain how your product will stand out from comparable items in the market. You have to clearly explain its concept, coupled with all aspects of purchasing, manufacturing, packaging, and distribution. You should also identify your suppliers, costs, and how the product you are offering fits into ...

  2. Products & Services Section in a Business Plan (+ Examples)

    In a business plan, the Products and Services section is typically included within the business overview section. This allows you to first introduce the business model and what it offers to customers. Only after this you can provide more details of the products and services. The Products and Services section should clearly detail what you are ...

  3. How To Write an Effective Business Plan Product Description

    Ensure that your product description is easy to understand. Present your product in easy-to-understand terms to give potential partners without industry expertise the ability to see the value in your business plan. Show off a little. Remember that you selling a product and selling yourself as the best provider of that product.

  4. How To Write the Products and Services of a Business Plan

    We make a point to understand new trends, digital options, and partnerships that help our clients today and tomorrow. Call us toll-free at 1 (888) 880-1898, write [email protected], or fill out our contact form here. Let's Get Started! It's not just a list of what your business is going to produce or provide.

  5. Write Products and Services Section of a Business Plan

    The products and services section of your business plan is where you mention and elaborate on your product range, product descriptions, ... you can look at these pricing strategies to choose one for your business. 3. Product Comparison. Regardless of what you're selling, chances are someone in the market is already selling it. Unlike direct ...

  6. Product and Service Description in a Business Plan: Complete Guide

    1. Portfolio: The range of products and/or services that a business offers to potential and current customers. 2. Features and benefits (value proposition): Explain what the product/service does and how it works. 3. Problem and solution (value proposition cont.): The problem (s) the product or service solves.

  7. How to write a business plan (with template)

    A business plan is a crucial document that outlines the entire product lifecycle from inception to launch. It aims to align stakeholders, minimize uncertainties, and increase the likelihood of product success in the market. Effective business plans are those that demonstrate a compelling opportunity backed by thorough research and a clear ...

  8. How To Write A Business Plan (2024 Guide)

    Describe Your Services or Products. The business plan should have a section that explains the services or products that you're offering. This is the part where you can also describe how they fit ...

  9. How to write the products and services section of your business plan

    To begin with, you should provide a description of the broader categories your products or services belong to. Once this is addressed, you can go into more detail, explaining each of the key products and services that your business offers. In this section, you should explain: What each of your products or services are. Who are they aimed at.

  10. How to Write the Business Plan Products and Services Section

    How to Write the Business Plan Products and Services Section. Get tips on writing the products and services part of your business plan. By Randy Duermyer. Updated on October 14, 2022. Reviewed by. Thomas J. Catalano. Fact checked by David Rubin. In This Article. The Products and Services Section.

  11. How to Write the Competitive Analysis of a Business Plan

    The steps to developing the competitive analysis section of your business plan include: Identify your competition. Select the appropriate competitors to analyze. Determine your competitive advantage. 1. Identify Your Competition. To start, you must align your definition of competition with that of investors. Investors define competition as to ...

  12. Conduct a Competitive Analysis (With Examples) [2024] • Asana

    4. Compare product marketing. The next step in your analysis will look similar to the one before, except you'll compare the marketing efforts of your competitors instead of the product features. Unlike the product features matrix you created, you'll need to go deeper to unveil each company's marketing plan. Areas you'll want to analyze ...

  13. Compare All Microsoft 365 Plans

    Everything in Business Basic, plus: Desktop versions of Word, Excel, PowerPoint, and Outlook. Webinars with attendee registration and reporting. Collaborative workspaces to co-create using Microsoft Loop. Video editing and design tools with Microsoft Clipchamp. Copilot for Microsoft 365 available as an add-on 3.

  14. 30+ Product Comparison Infographic Templates + Design Tips

    Here's how: Step 1: Create a free Venngage account and visit our comparison infographic templates page. Step 2: Pick a comparison infographic template or product comparison template that fits the story you want to tell. This is a good template to start with: Step 3: Replace the content of the template with your own.

  15. 10 Free Comparison Templates for Products in Excel & PowerPoint

    In addition, you can add text and numbers to elaborate on the features offered. Plus, you can include as many product columns as you want, so this is a great template for comparing your options in a crowded field. Download This Template. 9. Blank Google Docs Comparison Chart Template by Template.net. via Template.net.

  16. How to Build a Product Comparison Page (Best Practices)

    Ensure that the product comparison page supports scannability, allowing the viewers to scan the differences, keywords, and similarities of the products. ... Sometimes, they add more subscription options, which is the business plan. Whichever you want to put in the center of attraction, don't forget to use the "Center Stage Effect ...

  17. How to write a pricing strategy for my business plan?

    A business plan can be useful for internal purposes because it can make sure that all the decision makers are on the same page about the most important aspects of the business. A 1% price increase can lead to an 8% increase in profit margin. A business plan could be very lengthy and detailed or short and lean, but in all instances, it should ...

  18. Compare Microsoft 365 Business Plans and Pricing

    Web and mobile versions of Word, Excel, PowerPoint, and Outlook. 1 TB of cloud storage per employee. 10+ additional apps for your business needs (Microsoft Bookings, Planner, Forms, and others) Automatic spam and malware filtering. Anytime phone and web support. Copilot for Microsoft 365, available as an add-on 3.

  19. Compare Microsoft 365 Business Subscription Plans

    Microsoft 365 Business Premium. ₹ 1,830.00. user/month. (Annual subscription-auto renews) 1. GST extra as applicable. Buy now. Or try free for one month. See trial terms 2. Partial checkmark icons indicate a feature is partially included.

  20. What is a product plan and how to create one in 6 steps

    Product management is all about realizing outcomes. Before jumping into the how and what, let's first understand why product planning is important by outlining its six objectives: Company survival. Meet customer needs. Increase sales. Understand and manage strengths and weaknesses. Better manage capacity.

  21. Wix Vs. Shopify E-Commerce Comparison

    The Wix Business Unlimited and Business VIP plans also come with 100 to 500 automated sales transactions, subscription sales, marketplace selling, dropshipping by Modalyst and product reviews by ...

  22. Business Plan Vs Strategic Plan: What's the Difference?

    Key Difference Between a Business Plan and Strategic Plan. It was all about the basic definition of business and strategic plan. Now, let's compare them side-by-side to understand their use case, and how they are distinct from each other: Level of detail. A business plan is usually considered a granular and in-depth document.

  23. Simple Business Plan Template (2024)

    Key Features. Customised business workflows, OKR & budget templates, 10+ data views, automations, 37+ integrations

  24. Plans & Pricing for Zoom Workplace

    Zoom is the leader in modern enterprise video communications, with an easy, reliable cloud platform for video and audio conferencing, chat, and webinars across mobile, desktop, and room systems. Zoom Rooms is the original software-based conference room solution used around the world in board, conference, huddle, and training rooms, as well as executive offices and classrooms. Founded in 2011 ...

  25. Compare All Microsoft 365 Plans

    Try free for one month. See trial terms 2. Everything in Business Basic, plus: Desktop versions of Word, Excel, PowerPoint, and Outlook. Webinars with attendee registration and reporting. New: Collaborative workspaces to co-create using Microsoft Loop. New: Video editing and design tools with Microsoft Clipchamp.

  26. Thai PM defends wage hike plan as business groups voice concern

    Thai Prime Minister Srettha Thavisin on Tuesday defended his plan to introduce a nationwide daily minimum wage of 400 baht ($10.88) as a necessary move for the economy, as business groups voiced ...

  27. Best Data Science Courses (2024): Top Udemy Data Science Online Courses

    Compare Before Buying, a leading online resource for in-depth product reviews and comparisons, has published a review of the best data science courses available on Udemy for 2024. BOSTON - April ...

  28. AI Assistant for Enterprise

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  29. Compare All Microsoft 365 Plans (Formerly Office 365)

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