Product

“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. To estimate sales, the company might look at the sales history of similar products and conduct market surveys. It can then estimate minimum and maximum sales to assess the range of risk. After preparing the sales forecast, management can estimate the expected costs and profits for the product, including marketing, R&D, operations, accounting, and finance costs. The company then uses the sales and costs figures to analyze the new product’s financial attractiveness.” (Kotler, 251)

To develop a product means that you can find something that will be profitable for the company and will have a lasting effect on the market. We have developed vodka that will take the market over. It will revolutionize the way men drink, not only at the bar but also at the bar with their buddies. The estimated sales have been taken into account and we think that the financial attractiveness and appeal is there. Our product will be something that is lasting and something that men will be ordering for years to come. This is the solution to the man’s hard drink, without having to order a stiff one on the rocks. We want something that is not looking fruity while you are out with the guys but will give you the alcohol you want without having to settle for another light beer. Enjoy your game, buddies, and your alcohol without having to be a sissy drinker.

Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation. 10. VitalSource Bookshelf. Pearson Learning Solutions, , Tuesday, December 13, 2011.