Royalty 1 Page Business Plan
Overview
Royalty has a clear business objective to develop, produce, promote and (distribute) E Liquids products. These products have been developed over months of continuos tasting and quality control with a core focus on addressing the key customer problem and associated opportunities.
The Business Objectives
When as a key component of our growth strategy we consider it critical to identify and outline our business objectives, and align these objectives with clear and measurable development milestones. Our key long term business objective is to become a recognized, high end household brand. Whilst our existing products have been useful for testing the customer problem, new products are required to fully capitalise on our business potential. Our growth path is clearly oriented around the addition of new products, the development of these new products and the subsequent marketing of these. It is understood that costs will be associated with product development and marketing and these have been allowed for in our budget.
The Customer
Royalty has been created with a clear focus on the needs of our customers. Through a structured customer discovery process, we have validated the key customer problem as the need to create a classic and tasteful liquid that offers brand recognition and caters to tobacco enthusiasts as well as those just entering the market. This is a critical issue for our selected target market of those who are everyday smokers looking for an alternative to tobacco and a brand name for those looking to enter the ecigarette market for liquids.
The Value Proposition
Royalty is uniquely positioned to deliver value toeveryday smokers looking for an alternative to tobacco and a brand name for those looking to enter the ecigarette market for liquids. "Royalty will provide a uniquely composed liquid created with high quality products that will help those who have been struggling to quit smoking, an alternative to tobacco smoking while offering those entering the ecigarette market a brand name and a more healthful alternative." In order to be deliver on this value proposition, we create unique and quality blends. This capability has taken considerable time and resources to develop and forms the cornerstone of our competitive advantage.
Competitors
We have a number of competitors within the E Liquids market. We consider our key competitors to be: Vap shops and online brands . Our understanding of these competitors has been used to refine our strategy and value proposition. We believe that we can compete effectively with Vap shops and online brands by our unique blend and quality blends.
Key Strategies
Over the next 6 months our focus will be to create unique flavors and marketing scheme . This task will be undertaken in the context of our broader strategy to Distribute online and in stores. These strategies are a tactical implementation of our overall business goal as outlined above.
Milestones
Measurement of the successful implementation of our strategies will be governed by measurable development milestones. The milestones that will be achieved over the next 2 years are: Launch a line of product, Implement marketing, Obtain repeat customers and become a household name
About this document
E Liquids Business Plan
This document was created by L.S.Z of Royalty using the 5 minute Business Plan App. This technology and approach is powered by HyperQuestions.
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