This report details the new product development cycle, specifically focusing on fruit juice. It outlines the key stages, starting with idea generation, where the company considers customer feedback and existing product performance. The process then moves to screening to identify suitable ingredients, followed by business analysis to assess market demand, competitor products, and potential profitability. The report further describes the development phase, where raw materials are assembled, and the product is prepared for packaging. Rigorous testing ensures the quality, taste, safety, and ingredient accuracy of the final product. Finally, the report discusses commercialization and funding options, such as licensing, peer lending, and business line credit, to support the product launch. The report references relevant literature and provides a comprehensive overview of the product development process.
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