Design of Product and Services

This document discusses the comprehensive procedure of designing new products and services in the market, known as New Product Development. It explores the importance of innovation, pricing strategy, and marketing management in the process of new product development. The learnings are based on the case of Huawei Technologies Company Limited.

Running head: DESIGN OF PRODUCT AND SERVICES
DESIGN OF PRODUCT AND SERVICES
Name of the Student
Name of the University
Author Note

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Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Conclusion..................................................................................................................................4

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Introduction
The comprehensive procedure of designing new product in the market is known as
New Product Development. New product Development presents an idea of utilizing market
opportunities for the basis of introducing a new concept, product or service in the business
environment. The purpose of the paper is to reflect on the learnings in relation to New
Product Development. The paper will present my understanding for the specified topic with
the base of prior assignments and learnings in the due specific course of time.
Discussion
The learnings on the topic of New Product Development depicts the importance of
innovation and employee participation in the process of implementing product diversification
or product expansion strategy. I have developed the understanding of comprehensive process
of new product development from the case of the Chinese electronics and telecommunication
manufacturer, Huawei Technologies Company Limited. The new product development
practices of Huawei developed my understanding for the key success measures for
implementing the product innovation strategies (huawei.com, 2019). The learnings also
depicted the importance of pricing structure for influencing a marketing strategy (Sammut‐
Bonnici & Channon, 2015). I have learnt from the pricing structuring strategy of Huawei that
the setting appropriate pricing strategy will influence the market position of a brand in a
market. I have learnt that pricing strategy plays a crucial role for the process of development
(Lee, Kim & Joshi 2017). Competitive pricing enabled the electronic manufacturer and
Telecommunication Company, Huawei to construct the perception of premiumness of the
new products and to demonstrate the innovative features. My learnings from the Task 4A
depicts the understanding of the importance of new technology in the implementation process
of new product development. I have learnt that new technology helps in enhancing value of

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new product strategies and helps in shaping the brand image among customers. The purpose
of the telecommunication company was depicted as capitalizing new opportunities for
designing the product features. I have learnt from the paper that the reason behind the
popularity of electronic manufacturer, Huawei are, involvement in connecting the networks
of the departmental contribution, intelligence in the system of computing and the
incorporation of innovation for standing out among the competitors.
Marketing management contributes majorly for the process of constructing a New
Product Development plan. For strengthening the brand image and the plan of NPD,
redefining the marketing approach is very important (Stark, 2015). I developed the
understanding of diversification and market expansion through its application on the process
of product development. From the learnings of the assignment, my understanding of the
importance of restructuring the exposure plan through developing touch points is moulded. I
have learnt that both online and offline media is crucial for making consumers aware of the
New Product implementation. Social media platforms helps in the process of building
exposure for the process and flagship stores plays the role of an influencer, who introduces
the new product features to the target audience (Leenders & Dolfsma, 2016). The task have
depicted challenges and concerns of the company in regards with the process of New Product
Development, like unstructured innovation strategies, increasing employee turnover rate and
inefficient value proposition approach. From the recommendations for the telecommunication
company, Huawei, I have learnt that designing an innovative supply chain process with the
association of sustainability approach will help in enhancing the product image or perception
among the target customers (Jabbour et al., 2015). Another method that can positively
contribute in the process of building new product development process is establishing the
concept of exclusivity. I have learnt that exclusive stores act as a major player for moulding
the existent value perception of the consumers towards the new product implementation. I

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have also learnt that involving skilled workforce is an important strategy for the purpose of
strategizing and executing the New Product Development Plan.
Conclusion
Therefore, I can conclude my learnings regarding New Product Development by
depicting the key success factors crucial for the process. My understanding was developed
through the case of Huawei. The key factors, which contributes directly to the successful
implementation of New Product Development, are appropriate innovation plan, strategic
positioning strategy and effective employee involvement. The plan is structured based on the
market opportunities, resource availability, competitors’ influence and internal marketing
strategies.

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References:
huawei.com (2019). Huawei - Building a Fully Connected, Intelligent World. [Online]
Retrieved from https://www.huawei.com/en/
Jabbour, C. J. C., Jugend, D., de Sousa Jabbour, A. B. L., Gunasekaran, A., & Latan, H.
(2015). Green product development and performance of Brazilian firms: measuring
the role of human and technical aspects. Journal of Cleaner Production, 87, 442-451.
Lee, K., Kim, Y., & Joshi, K. (2017). Organizational memory and new product development
performance: Investigating the role of organizational ambidexterity. Technological
Forecasting and Social Change, 120, 117-129.
Leenders, R. T., & Dolfsma, W. A. (2016). Social networks for innovation and new product
development. Journal of Product Innovation Management, 33(2), 123-131.
Sammut‐Bonnici, T., & Channon, D. F. (2015). Pricing strategy. Wiley Encyclopedia of
Management, 1-3.
Stark, J. (2015). Product lifecycle management. In Product lifecycle management (Volume 1)
(pp. 1-29). Springer, Cham.