What are the various method for marketing and finance you will opt

for your business plan model?

 Marketing Method for the Business Plan Model

In order for marketing the new product, the four P marketing strategy i.e. Product,
Price, Place, and Promotion will be an effective one.
Price:
The emphasis should remain on retaining more and more customers. Thus, customer
retention and establishing a loyal customer base must be the priority of the company.
Therefore, the company must adapt a reasonable pricing framework and strategize
accordingly. At the same time, the company must focus on the fact that the  pricing is
not higher than other players in the industry. Also, for developing good relationship
with the distribution channel, they can offer initial discounts on bulk orders or to bulk
retailers. The buy two get one free policy is also a possibility.
Place:
It is important for the company to establish a powerful distribution network and it is
also very important to establish the product as a pioneer in the existing market. It is
important to distribute the product everywhere namely super-markets, mega stores,
electronic stores and even medical stores. The plan is to make sure the reach of the
product is diverse and it is  present in every sphere of the market. Initially choosing an
e-commerce partner and ultimately setting up an e-commerce platform to sell the
products is also a possibility.
Promotion:
It is important to understand that due to the huge demand of batteries, the competition
in the market will be extremely high. Therefore, to make the product stand out from
the rest, it is important to promote the product. A grand promotion will give the
product the best possible start. Innovative advertising, catchy taglines, active
presence on social media, designing a lucrative and innovative catalogue can help
with the  promotion.
Product:
The primary factor is the product design. The company has to make sure that their
product design is effective and is able to fulfil the needs of the customers. Also, it is
important to identify that it offers something extra in comparison to similar existing
products in the market. The longevity of the battery life, power consumption,
rapidness of charging to full extent, etc. should be top notch.

 Method of Finance for the business Plan model

Financial Institutions:

Business owners have the option of taking out a loan at a financial institution.
Financial institutions, such as banks or credit unions, offer lines of credit to
businesses that are just starting out or require financial assistance for improvements or
new developments. To qualify for a loan, business owners must go through an
application process. Most financial institutions require businesses to provide
proposals for how the money will be used and why the funding is necessary. Interest
on the loan will be charged at either a fixed or variable rate.

Venture Capitalists:

Another financing method is to find a venture capitalist to fund your business

endeavor. Venture capitalists usually want to invest in high-growth companies and
seek out companies that show promising signs of a high return on the investment. One
of the benefits of this financing method is that venture capitalists are not afraid to take
risks, whereas financial institutions like to lend money to safer enterprises. According
to Entrepreneur.com, a typical venture capitalist invests between $500,000 and $10
million.

Home Equity Line of Credit:

Taking out a home equity line of credit on your home is another method for financing
your business venture. Business owners who also own homes can access money from
their home equity to fund their company activities. Interest on home equity lines of
credit is often lower than that charged on a commercial bank loan.

Friendly Loans:

If you have friends and family with money, you might consider asking them for a
friendly loan. They may have an interest in your business and will want to invest in it,
expecting a good return on their investment. Or they may wish to loan you the money
and expect only that they will be paid back. This option is more desirable than
commercial bank loans that charge high interest rates.