Business Analysis
Once the marketing strategy has been developed it is important to assess the worth of the product from a business point of view. An assessment of the sales projections, estimated expenses, and anticipated profits are included in the business analysis. And, If they meet the goals of the company, the product can proceed to the product development stage. For instance, a food company would assess the profitability of a new snack by looking at the expenses associated with ingredient sourcing, production, packaging, and distribution.