Unit 22 Product and Service Development

Product and Service
Development
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Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
Main Body.......................................................................................................................................3
Task 1...............................................................................................................................................3
Explain the processes involved in the development of products and services and the levels of
customer integration....................................................................................................................3
Apply these processes in application to the development of a specific organisational product or
service..........................................................................................................................................5
Task 2...............................................................................................................................................6
Assess the life-cycle stage of the products or services in a company’s portfolio........................6
Evaluate which appropriate product line management choices are required for individual
products or services.....................................................................................................................7
Task 3 (PPT)....................................................................................................................................8
Task 4...............................................................................................................................................8
Complete a reflective statement that critically reflects on team working, creative development
and presentation...........................................................................................................................8
Conclusion.......................................................................................................................................9
REFERENCES..............................................................................................................................10
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INTRODUCTION
Product innovation is the process of creating or launching a new product or modifying
existing product by adding some new features. It is essential for companies to adapt innovation
within their product design and marketing strategies to make their organisation unique and
special from other companies and this will further help them to gain competitive advantage with
in the industry (Guiné and et. al., 2020). Dove is an American personal care brand owned by the
multinational consumer goods company Unilever. It is founded in the year 1956. The following
report will cover process of development of product, level of customer integration, application of
process of product development for a particular organisation, life cycle stage of the product and
the evaluation of appropriate product line management choice. This report also covers product
pitch and a reflective statement.
Main Body
Task 1
Explain the processes involved in the development of products and services and the levels of
customer integration
Process of development of product-
Stage 1- Idea generation
This is the stage where company will get the idea to introduce new product within the market.
Here, company only generate the idea of new product development but they are not clear about
specific product which is supposed to introduce. It is essential for the companies to identify their
target audience, existing products, functionality and SWOT analysis at this stage.
Stage 2- Product definition
This is the stage where companies will define the new product which they can launch in serving
markets (Cooper, 2019). After analysing the target customers, companies can identify that which
product is demanding in the market. Here, company will define the value proposition, marketing
strategies and many other strategies for the growth of their new product. Here, company will
define that how they will manufacture their new product and how they will reach their targeted
customers.
Stage 3- Prototyping
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This is the stage where the company will prepare the documents related to business plan and
strategies and ways to achieve them. It consists of feasibility analysis, market risk analysis and
development strategies.
Stage 4- Initial design
This is the stage where the new design of product is made. Acceptance of all stakeholders are
essential and then they will decide that the idea of new product development will be continue or
not. Here, company will prepare a single sample of the new product and represent it inform of
the stakeholders of company so that they will analyse the benefits of introducing new product
within the market for their organisational growth.
Stage 5- Validation and testing
This is the stage which consist of testing the quality of new product (Product development
process: The 6 stages (with examples), 2022). It also consists of effectiveness of all stages from
product development to product marketing before the launch of new product.
Stage 6- Commercialization
This is the last stage of this process where company will launch their new product on their
website and stores and promote it well for increasing customer's awareness that the company has
launched a new product in the market. A good level of advertisements is required at this stage to
increase awareness to many customers as much as possible. It is essential to have good
communication between customers and company because here, customers can ask many
questions with company about their new product and they are required to respond as quick as
possible.
Customer integration refers to the relationship between customers and companies which
is built through the use of technology (Marion and Fixson, 2021). Today, most of the companies
make sure that they will build a good relationship with their customers to analyse their needs and
wants. Through the technology customers can directly contact to organisations and ask their
queries. Websites, social media channels, telephones, mobile phones and many others are the
examples used in customer integration. The main goals of customer integration are to improve
communication with customers, to gain customer retention and loyalty, to focus appropriately
upon targeted marketing’s and to learn how to tackle different kinds of customers.
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