This milestone establishes your chosen organization’s direction within the marketplace. This is important because it drives the subsequent activities, milestones, and the final project. Without a strong sense of the organization’s purpose within the marketplace, knowledge of consumer trends, and how to meet target market needs at the appropriate price, management is less likely to maximize the efficiency of business activities and more likely to miss fully meeting the needs of its chosen target market. This milestone establishes how the organization will differentiate itself from its competition through branding with a unique product or service offering designed to meet specific consumer needs or desires that are shaped by their demographics, personality, or buying style.
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