"Once management has decided on its product concept and marketing strategy, it can evaluate the business attractiveness of the proposal. Business analysis involves a review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company’s objectives. If they do, the product can move to the product development stage."- Kotler, Gary Armstrong and Philip. Marketing:
Our product is The Islands vodka. But we want to have a open mentality towards our brand. We want to be able to come out with various holiday packaging and scented caps that can really give us a boost in slaes when we need it. And we also want to come out with various bottles shapes and sizes that do diffierent things. We just want our brand to have the experience that everyone is always looking for, and the experience that we feel our competition lacks.
"So far, for many new-product concepts, the product may have existed only as a word description, a drawing, or perhaps a crude mock-up. If the product concept passes the business test, it moves into product development. Here, R&D or engineering develops the product concept into a physical product. The product development step, however, now calls for a large jump in investment. It will show whether the product idea can be turned into a workable product."- Kotler, Gary Armstrong and Philip. Marketing:
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