Design of Product and Services

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

1DESIGN OF PRODUCT AND SERVICES
Table of Contents
Introduction................................................................................................................................2
Discussion..................................................................................................................................2
Conclusion..................................................................................................................................4

2DESIGN OF PRODUCT AND SERVICES
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