Development of New Product or Service: Guess Watches

Product and Service
Development

Table of Contents
INTRODUCTION...........................................................................................................................4
PART 1............................................................................................................................................4
Covered in PPT.......................................................................................................................4
PART 2............................................................................................................................................4
Overview of content of the presentation................................................................................4
An explanation of each of the processes involved in the new product or service development.
................................................................................................................................................5
An explanation of how each stage of the NPD process was applied in the development of new
or improved organisational product or a service....................................................................7
Reflection...............................................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES................................................................................................................................1

INTRODUCTION
Development of the new product is crucial for the organisation as with the help of this
they can bring new and innovative product in the market. It includes various aspects such as
designs of the product which can be tangible or intangible. For developing new product it is
important to understand needs and wants of the customers, moves of the competitors, nature of
product and services etc. In this report the organisation that is taken into consideration is Guess,
which is a multinational retailer of clothing. This report includes the development of the new
product or the service and various stages of the process of NPD with the help of which
improvement in the products and services can be introduced. Apart from this a reflective report is
included that demonstrate the ability of undertaking the development on new product.
PART 1
Covered in PPT
PART 2
Overview of content of the presentation
The organisation that is chosen for report is Guess which offers a wide variety of clothing
options for men and women but now they planning to launch sustainable watches. For this they
have undertaken analysis of product life cycle. This enables them to identify stages at which the
product lies and accordingly various strategies can be formulated. The product that they are
planning to launch is at introduction stage for which they need to advertise extensively so that
the product can be made available to the customers. Along with the new products of the
company they need to analyse the product life cycle of other products as their importance for the
customer will have impact on the new products. Due to this it is analysed that clothing of men is
at the growth stage which gas grown by 84% while the women clothing is at maturity. But the
accessories segment of the company which includes watches, shoes, bags etc. are at declining
stage as no significant innovation has been introduced by them in the products. This makes them
launch various watches such as Black case stainless steel watches, Jemma ladies touch, Cassidy
unisex touch, Logan unisex touch etc. Later in the report life cycle for new product are evaluated
with which the suitability of the product range can be identified. A proposal for launching new
watch range is developed which includes marketing opportunities available to the company as