Product and Service Development

This document discusses the importance of product and service development in achieving business goals and objectives. It focuses on a case study of Sainsbury's new beauty product range called Beauty Queen.

Product and
Service
Development

INTRODUCTION
Product and Service Development refers to the use of different types of methods and
techniques through which new products and services can be developed and effectively
introduced in front of the various types of customers in the market (Cao, 2020). Thus, it is quite
necessary that the management of the organizations is able to put its focus on it so that the new
goods and services are introduced in the market which can be highly profitable for the
Businesses to attain their particular goals and objectives in the future in a proper manner. For this
report, Sainsbury’s has been chosen. It is a British Retail Company which provides a wide range
of products and services to the customers in the market. It is planning to introduce a range of
new beauty products under its own brand name for women which will be called Beauty Queen.
In this report, a detailed focus will be made on the way in which the development of a new
product or a service can take place in a Business and the way in which an enhancement in the
overall level of profits can be done.
MAIN BODY
Task 1-
New Product Development Framework- It is quite necessary that the use of a New
Product Development Framework can be made in the organizations so that they are able to
ensure that they can easily introduce the new products and services and are able to ensure that
they can effectively and efficiently attain the desired goals and objectives in the future (Farsi and
Erkoyuncu, 2021). Thus, Sainsbury’s has to make sure that the use of the NPD framework can be
made by it to introduce the Beauty Queen in the market. It should be able to include the
following-
 Idea Generation- It refers to the way in which Ideas can be generated. It means
identifying the needs and requirements of the different types of customers in the market
and therefore ensuring that they can be converted into an opportunity so that the
customers can be satisfied and they provide a positive review for the products of the
company (Hartono, 2020). Sainsbury’s needs to make sure that the identification of the
ideas can be carried out. In this way it has identified that there is a specific need of the
women that a new range of beauty products can be introduced for them which caters to
their needs and requirements. Thus this presents an opportunity for the company which
can be used so that the company is able to convert the idea into reality and thus is able to
attain a higher-level of profitability quite effectively and efficiently.
 Idea Screening- It means carrying out a thorough assessment of the different types of
ideas and therefore ensuring that the best idea among them can be used properly for the

purpose of implementation. The organization has to make sure that the screening of its
idea to introduce Beauty Queen in the market can be done so that it can help the company
in enhancing its overall level of popularity in a proper manner. It is also necessary that
the company is able to make sure that its idea is assessed and therefore it is able to
forecast the profitability of its products in a proper manner. This will allow the company
to be able to ensure that the enhancement in the overall level of profits can be carried out
in quite a proper manner.
 Concept Development and Testing- It refers to the way in which Concept Development
and Testing can be carried out so that the implementation of the ideas can be done
appropriately (Ho-Dac, Kumar and Slotegraaf, 2020). Beauty Queen is a range of beauty
products which are specifically aimed to be introduced for women in the market and
therefore it is necessary for Sainsbury’s that it identifies and assesses the idea thoroughly
before carrying out its implementation in the market. This will help the company to be
able to ensure that it implements the right concept for its products and can satisfy the
wide range of needs and requirements related with the customers in a proper way.
 Marketing Strategy- The Marketing Strategy which will be used by Sainsbury’s for
Beauty Queen is as follows-
Product- The name of the Product is Beauty Queen and it is a range of beauty products
which is offered to the ladies and has different types of beauty products under its which
can be used by them.
Price- Beauty Queen will be priced through making the use of Penetrative Pricing
Strategy which can be highly effective in ensuring that the company is able to target the
different types of customers in a proper manner.
Place- Beauty Queen will be available in the different Stores of the organization to
ensure that it is available for the different types of customers.
Promotion- Beauty Queen will be promoted through making the use of aggressive
promotional methods and techniques which will help a lot in ensuring that the attainment
of goals and objectives related with the product can be made.
Thus, it is necessary for Sainsbury’s that it can ensure that through the implementation of
this marketing strategy it is able to capture the market in a proper manner and can thus
enhance its overall level of profitability quite appropriately.
 Business analysis- Beauty Queen is range of Beauty Products which can be used by
ladies. Sainsbury’s has analyzed that there is a higher-level of demand of such type of
products in the market and therefore in this way this can be helpful in ensuring that the
company is able to attain the future goals and objective in a proper manner.
Therefore, it is quite important from the point of view of Sainsbury’s that the analysis of
the business which can be done through the product is made so that it is able to increase
the overall level of sales of the product and thus acquire a strategic and competitive edge
over the competitors in the market.
 Product development- Beauty Queen is a product which has been developed through
various types of stages. In the context of Sainsbury’s, it can be said that it is quite

essential to be done so that it is able to make its product successful in the market and earn
higher-level of profits from it. Therefore, it becomes quite important from the point of
view of the organization that it is able to ensure that its beauty products are able to attract
the attention of the customers in quite a proper manner and therefore help in the
attainment of the future goals and objectives in a right way.
 Commercialization- Beauty Queen is a product which can be commercialized by
ensuring that the assessment of the marketing potential of the product can be made in a
proper manner (Kosasih, Salomon and Halim, 2020). For the company, it is therefore
quite important that that the commercial aspects of the product are assessed and therefore
it can be made successful in the market in the long-run. Therefore, Sainsbury’s should
give appropriate level of attention towards the commercial aspects of the product which
will be quite helpful for it in ensuring that the product is able to satisfy the different
customers in the market and thus can help in the enhancement of the overall level of
profitability quite properly.
 Monitoring and Evaluation- It is also quite necessary that the products and services
which are launched in the market are monitored and evaluated regularly so that the
company is able to ensure that the necessary conclusions and recommendations can be
derived in a proper manner which will help the organization to be able to progress and
attain the desired goals and objectives quite properly. Thus, this has to be done by
Sainsbury’s so that it is able to assess and identify the deviations and variations quite
properly and therefore can make sure that they can be removed so that the company is
able to ensure that it attains a much-required strategic and competitive edge in the market
over the different types of competitors in the market and thus is able to enhance the
overall level of profitability. Thus, in this way Sainsbury’s can make sure that the desired
improvements in the product can be brought in quite a proper manner effectively and
efficiently.
Task 2-
Product Life Cycle-
Product Life Cycle refers to a cycle in which the growth of a product is assessed from the
start (Lahiri, Dasgupt and Tapasvi, 2021). Therefore, it is quite important that the analysis of
its concept can be carried out which will be quite helpful in ensuring that the assessment of
the different types of products can be carried out in a proper manner. It is necessary for
Sainsbury’s that its use is made so that the assessment of Beauty Queen can be made
effectively and efficiently in a proper manner. The stages of Product Life Cycle are-
 Introduction- In this stage the Introduction of the product is carried out in the market
(Mafakheri and Badizadeh, 2020). This is done by scanning the environment and
identifying the particular needs and requirements of the customers. Therefore,
Sainsbury’s has to make the use of careful planning so that it is able to ensure that the

introduction of Beauty Queen can be done in a proper manner in the market which will be
quite helpful in ensuring that the product is made suiting to the needs and requirements of
the customers in the market in a proper manner.
 Growth- This is the stage where the organizations are able to ensure that their product
gradually grows in the market and is able to accomplish its goals and objectives (Mauger,
Dantan and et.al., 2021). Sainsbury’s thus needs to make sure that its goods can grow in
the market and thus are able to attract the attention of the customers in this manner quite
effectively and efficiently.
 Maturity- This is the stage where the product has been established in the market
(Mourtzis and et.al., 2020). In the context of Sainsbury’s, it is quite crucial that Beauty
Queen becomes an established product within the market which will be helpful in
ensuring that the company is able to enhance its overall level of profits quite properly so
that the future goals and objectives are attained. At this stage, the product starts to earn
stable profits for the organization so that the organizations are able to ensure that they can
attain the required level of stability in the market and thus can enhance their profits in a
proper way.
 Decline- This is the last stage of the Product Life Cycle (Rantala, 2020). After reaching
this stage the product begins to lose its popularity in the market and therefore begins to
decline and thus the profits which are being earned from it by the companies start to
reduce. Beauty Queen will also reach this stage and therefore at this stage the profits
which are being earned from it by the company will reduce which will therefore create an
impact on the overall level of profitability of the company.
Task 3-
It is quite essential to develop a detailed Business Plan so that the new product or service
can be launched in the market. Sainsbury’s will make sure that Beauty Queen can be rolled out in
the market once a specific plan has been prepared for it effectively and efficiently. The Business
Plan will be as follows-
 Market opportunity- The Market Opportunity for Beauty Queen product in the market
is due to the reason that the ladies require making the use of beauty products regularly
and are looking towards getting branded beauty products under the Brand Name of a
Branded Company in the market. Sainsbury’s is also required to make sure that it carries
out a SWOT analysis in a proper way which will be useful for the company as it will help
in carrying out a detailed assessment of the product.
 Marketing strategy- The Marketing Strategy for Beauty Queen has to be framed through
making the use of the 7P’s of Marketing. In the context of Sainsbury’s, it becomes quite
important that the implementation of the strategy can be done in a right way effectively
and efficiently so that the product is able to attract the attention of the customers in the
market.

 Target audience- The Target audience for Beauty Queen will be the women. This is so
because they are the main users of the beauty products. Therefore Sainsbury’s also has to
make sure that they can be targeted quite effectively and efficiently so that they purchase
the range of beauty products offered under Beauty Queen so that the attainment of the
future goals and objectives can be made quite appropriately.
 Synopsis of the competition and the industry- There is a higher-level of competition
which is present for the organization and therefore it is quite crucial that the assessment
of the competition can be done appropriately so that the right conclusions and
recommendations can be derived. The competition which is prevalent in the retail
industry is quite high and therefore in this way this presents a challenge in front of the
companies which are operating here. Thus, it has to be ensured that the strategies are used
quite appropriately by the organizations so that a strategic and competitive edge can be
obtained over the competitors in the market. Further, the Retail Industry is a high-growth
industry and therefore offers plenty of opportunities for the organization which can be
used by it so that it is able to make sure that it can increase its profits quite properly.
 Financial Overview- Financial Overview of the organizations is required to be obtained
by the firms because by doing so they are able to ensure that they are able to make a
thorough assessment of the overall viability as well as feasibility of the product in which
they want to make an investment (Razak and et.al., 2020). Thus, it is quite crucial for
Sainsbury’s that it is able to obtain a Financial Overview of Beauty Queen before
launching it in the market. The management of the company is required to make sure that
it is able to identify and assess the overall financial strength of the company so that it can
make sure that the right decisions can be taken effectively and efficiently to attain the
future goals and objectives in a proper manner. For this, it is essential that the company
assesses the proposed cost, sales and profit of the new product so that it is able to draw
conclusions and recommendations quite properly.
 Capital/Investment required- This refers to the amount of funds which are required by
the organizations to be able to launch the new product or service in the market
(Taleuzzaman and et.al., 2020). For introducing Beauty Queen in the market, Sainsbury’s
needs to ensure that it is able to that the assessment of the capital which is needed by it to
be able to launch the product or service is done so that the company is able to implement
its strategy in a proper manner effectively and efficiently in the future in the right way.
 Recommendations- It is therefore recommended to the management of Sainsbury’s that
through making the use of the various types of methods and techniques the development
of the product can be done quite properly. In the context of Sainsbury’s, it therefore
becomes quite crucial that by following the recommendations it is able to ensure that it
can make Beauty Queen successful in the market which will help in the attainment of the
overall goals and objectives in the future in a right way.
Task 4-

Scenario- I am a student studying in a university. We as the students studying in the
university were required to make sure that we abide by the rules and regulations of the
University for the Project. Therefore, we had to form a group for this project and as a member of
the group we faced different types of situations and circumstances. I will therefore make a
reflection on my personal experience of being a part of such a group.
The team which was formed by our university functioned in a proper manner as in this
way the team was able to make sure that the attainment of the goals and objectives which were
allotted to it was done quite appropriately. The team functioned quite effectively and efficiently
and was able to accomplish its different types of tasks in a right way. I enjoyed a lot being part
of the team because it provided me with a valuable experience (Thomas, 2020).
The team undertook its necessary activities through ensuring a proper cooperation and
coordination between the team members. Thus, in this way I can state that the team will be able
to ensure that the proper management of the work can be done by it. This will help the team to be
able to manage out its needs and requirements quite appropriately (Wei and et.al., 2020).
The team organized and planned its work by allocating the work to the team members in
the form of various tasks which can be performed by them according to their skills and abilities. I
was also allotted the work in the form of tasks which I could perform and this helped me in
ensuring the development of my skills and abilities quite properly (Zapata-Roldan and Sheikh,
2020).
The level of interaction between the team members was quite high because there was
regular cooperation and coordination between them which allowed making sure that the different
types of activities were carried out quite appropriately. I also cooperated and coordinated with
my team members who helped me a lot in ensuring that I was able to attain my personal goals
and objectives as a part of the team quite effectively and efficiently (Zhang, Liang and Moon,
2020).
The group discussion also enabled the required creativity between the team members and
thus in this manner the team members were able to think out creative ideas for the purpose of
completion of the project. Therefore, this was quite helpful for me as I was able to work quite
creatively for the accomplishment of the desired goals and objectives.
The team did quite well together because by making the use of the team goals and
objectives which were set for the future the team was able to manage its activities quite
appropriately which helped the organization a lot. I was able to carry out the tasks which were
allotted to me quite properly which helped me a lot in ensuring the management of the work in a
proper manner.
The quality of final presentation was quite good as all the team members were in full
confidence for presenting the work. This therefore helped us a lot in ensuring that the

management of the requirements related with the presentation was done effectively and
efficiently in the right manner. I also helped a lot in making the quality of the final presentation
better which therefore was helpful in ensuring the best presentation of the work in a proper way
effectively and efficiently.
There were also some concerns and issues which we faced while working together as a
team. These were lack of appropriate cooperation and coordination between some of the team
members, conflicts between some of the team members etc. Therefore, in this way it can be said
that these concerns and issues were solved by ensuring that the problems of the team members
were identified and the right steps were taken in order to provide a solution for these particular
problems quite effectively and efficiently. Thus, we as the members of the team were able to
make sure that we identified the problems and therefore solved them quite appropriately who
helped us in accomplishing the team goals and objectives. In the future, we have to make sure
that we identify he concerns and issues which are being faced in the team quite quickly and
therefore are able to ensure that a resolution to these concerns and issues can be provided quite
appropriately in a proper way. We also need to make sure that we display the best teamwork
which will help us a lot because this will lead towards becoming successful in the future and will
help in the development of skills and qualities.
CONCLUSION
From the above report, it can be concluded that Product and Service Development refers
to the way in which the new products and services can be introduced into the market by a
company. It is essential that a detailed process is followed by the organizations for this purpose
which will lead towards introduction of the products and services in the market and will help the
organization in ensuring an enhancement in the profits in the future. Therefore, for the managers
of the company it becomes highly important that they keep a watch on the future opportunities
and are able to make sure that the use of these opportunities can be made so that the attainment
of the goals and objectives in the future is made possible and the company is able to become
successful in the future by accomplishing a strategic and competitive edge in the market.

REFERENCES
Books and Journals: