Business analysis

This strategy is the most needed part of developingproducts. In this stage, it is necessary to review the sales, costs and profit projections for this product to find out whether these factors satisfy the company’s objectives. To estimate sales it is necessary to look at the sales history of similar products and conduct surveys of market opinion. as it is a low priced product, so it is necessary to operate a survey to the low priced market.The above business analysis steps are the standard to follow for the product .

So far, for many new- product concepts, the product may have existed only as a word description or a drawing. If this k gains a good result of selling rate, profit rate, rate of risks, then it should be developed the product concept into a physical product. In this stage, it is necessary to ensure that the product idea can be turned into a workable product. The research and development department of the company should develop one or more physical versions of the product. in this stage, research and development sector needs a large number of investment to analyze and improve ideas and develop the product.

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