This essay discusses the importance of product development for a retail organisation, using Tesco as a case study. It explores the benefits of new product development, such as providing value to customers and increasing revenue. The essay also highlights the significance of continuous growth and improvement through the development of new products. Additionally, it discusses how product development helps in reducing costs, improving value, and acquiring new customers. Overall, the essay emphasizes the role of product development in retaining customers and attracting new segments.