The purpose of the business plan is to articulate what the organisation intends to do to address the market gaps identified in the preceding gap analysis.
The Market Plan articulates how the business plan will be accomplished and covers topics such as competitor analysis and the characteristics, size, and profitability of the marketplace,.
The sequence, timing and characteristics of the new product introductions going forward are set out in the product plan.
The Technology Plan is the end point of this sequence of plans and forms the basis of the R&D programme.
The benefit of this hierarchy of plans is that a clear link can be established between a market need and technology exploitation programme enabling rational business decision making.