2. Business Opportunity
Describe the market problem and resulting market opportunity.
Describe the product’s strategic purpose and how it helps meet the company’s long-term business objective (e.g., Will the product demonstrate new technology or penetrate new markets). Clearly quantify and substantiate the market opportunity.
Keeping the customer’s perspective in mind, identify and justify any market challenges that exist in the marketplace that require change. List the customer pain points that your product or service can alleviate.
Market Solutions Available Today
Indicate how customers currently handle the pain points listed in the section above; explain how, why, where, and when they remain unsatisfied. Summarize primary competitive solutions as well as internal home-grown solutions.
Value and Benefits to Customers
Describe the value proposition and list the primary benefits for customers from your product or service. Explain how and why the company’s solutions are (or will be) better and different than other solutions currently available.