Processes involved in product and service development

This document discusses the processes involved in developing products and services, with a focus on the case of Guess Company. It explores idea generation, screening, concept development, marketing strategy development, product development, test marketing, and commercialization. It also includes a reflective statement on team working and creative development.

Product & Service
Development

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
P1. Processes involved within developing products, services and many more...........................1
P2. Application of processes to develop particular product or service of company....................4
M1. Consistent demonstration of justified application related to subject knowledge as well as
understanding processes to develop product along with service.................................................5
D1. Well articulated, coherent as well as logically presented pitch which has justified
approach for decision making throughout process of development, market launch along with
distribution...................................................................................................................................6
TASK 2............................................................................................................................................6
Covered in PPT ...........................................................................................................................6
TASK 3............................................................................................................................................6
Covered in PPT............................................................................................................................6
TASK 4............................................................................................................................................6
P6. Completing reflective statement which reflects for team working, development of creative
and presentation...........................................................................................................................6
M4. Addressing concerns as well as issues with recommendations related to improvements....7
D2. Insightful as well as independent reflection on teamwork as well as creative development.
......................................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Development of product and service is said to involvement of all stages for bringing a
product from idea via market release. It incorporates either modifications in existing
commodities or formulation of entirely new tangible or intangible components which have
desires to satisfy defined customer's wants (Ács, Szerb and Autio, 2016). To understand about
product and service development, Guess Company is considered which is a clothing brand
together with retailer. Along with this, it also markets various other fashion accessories like
perfumes, watches, bags, cloths and many more. The report explains processes that are involved
in development of products as well as services. Further, it applies the processes to develop
specific organisational product or services. At last, the report involves complete reflective
statement which reflects on team working, creative development along with presentation.
TASK 1
P1. Processes involved within developing products, services and many more.
Product development is defined to modification in features as well as characteristics in
the exiting commodities or manufacturing a totality new item as per pertaining trends in market
or customer choices (Bharwani and Mathews, 2016). With the help of developing products or
services, companies offers new and overwhelming values in order to flocking customers towards
them. Guess is the company which offers variants of items including glasses, watches, clothing
and so on for leading in competition and meeting requirements of population. It has headquarters
in California, United States since 1981. the managers of the business have analysed product
lifecycle stage so that it can determine which products lies in what stage so that further decisions
are framed to attain objectives. As per product lifecycle stage, it is seen that its watches that are
made with leather are in declining stage as population are becoming more conscious for the
protecting animals and because of this, they are less preferring those goods which are made from
leather. In this case, the managers have taken choices for innovation wherein they will make
significant changes in their leather watches and offer them as Hand Beaded watch. The watch
will be manufactured by using threads despite of leathers and various other materials that are eco
friendly. Further, managers design the pitch by considering various factors that are market
opportunity, marketing strategy, synopsis of competition and various others.
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In present era, to deal with situations related to declining sales volume, demand and many
more managers are following procedures that are related to new product development in order to
make improvement in existing ones that falls in declining stage. Some of the processes which are
involved in developing new product are as follows:
Illustration 1: New product development process. 2020
(Source: New product development process. 2020)
Idea generation: It is the first process in developing a product that includes generation of
ideas. Companies when planning to developing something they comes with innovative ideas that
is generated through spoting gaps within market as well as using various other methods. The
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main sources from which ideas are generated includes internal sources, market research, reviews
from customers, analysing opportunities and weaknesses, brainstorming suggestions, industrial
competition and many other sources. After considering all these sources, wide variety of ideas
are generated.
Idea screening: Herein, the generated ideas are screened through evaluations of each
(Brassington and Pettitt, 2012). In this stage, managers filters all the ideas in order to select the
suitable option that will help in reaching towards goals. All the group members discus prose
addition to cons of each idea and then list down best idea which posses capabilities for
generating revenues, satisfying customers and hence forth.
Concept development along with testing: The stage arises just after screening of idea.
In order to attain success for the idea it is important to develop a concept and then test it for
analysing that whether it is understandable, acceptable and fulfil meets of consumers. In this,
small consumer segment is chosen and then relevant information is provided to them related to
the new idea. Further, information is collected related to what customers thinks about the idea.
The stage helps in searching whether customers like the idea or not. When favourable results are
attained then further actions are taken.
Marketing strategy development: It is the stage which plays essential role in
developing new product or idea. In this stage, detailed analysis of business is done so to ensure
that whether new idea will fit in the organisational strategic plans, determining costs, margins of
revenue and demands. It involves defining target marketing, planning product positioning, profit
goals and so on. It will assist in identifying that the new idea will be commercially profitable or
result in unfavourable situations as per business view point.
Product development: In this stage, organisations makes determination to develop the
idea and introduce it in market. All the required procedures will be followed for manufacturing
along with distribution of the idea. The process is considered as crucial for business as the idea is
converted into physical form. Production function of the enterprise males plans for production of
idea as well as coordinates with other functional departments for the purpose to obtain finance,
marketing product and many more.
Test marketing: Hereby, developed product is introduced in the new market at small
scale in limited market (Cavanaugh and Blanchard-Fields, 2018). When it is seen that the
developed products successful within small market then further activities are performed to
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launch it at large scale. In contrary, failure of developed product in test marketing will help
finding main reasons because of which product failed. With the help of it, necessary changes can
be made in the new product and then launching it again. It reduces uncertainties in the path of
large scale marketing.
Commercialisation: The next stage in which developed product is introduced on large
scale after attaining successful results from test marketing. In this process, large investment is
made by firms within the developed product. It is done through manufacturing in large scale as
well as distributing it in huge scale. Moreover, advertisements of developed products are done
through magazines, TV and newspaper.
With the help of these process of developing product, organisations emphasises on
offering valuables to customers that have huge potentials to meet all the requirements and
demand of market as well as gaining revenues for entity.
P2. Application of processes to develop particular product or service of company.
Guess is the organisation that is performing activities for offering variants of products in
retail sector (Charter and Tischner, 2017). It offers fashion accessories as well as clothing
products across the world. As per the product lifecycle stages, it is analysed that its watches that
are made from leather are at declining stage. In this regards, following are the processes that are
applied to develop its Hand Beaded watch:
Idea generation: In this phase, managers of Guess generates ideas through brainstorming
method or conducting research so that various ideas are collected that can help in developing
exiting commodity. The administrators shares the situation with employees and ask them to
provide some potential ideas that can benefit to deal with pertaining situations. After the
discussion, they came with ideas related to Digital watch, Hand beaded watch and Quartz watch.
Idea screening: In this process, Guess managers screens the generated idea so that they
can analyse which idea will help in dealing with problem and attaining outcomes fastly.
Organisational administrators undertakes feasible study for all the ideas that are digital watch,
quartz watch and Hand beaded watch. In this, company analysed that there are various
technologies that are to be added if they have to convert leather Hand Beaded watches into
digital watches. In context to quartz watches, it requires huge investment and it is seen that Hand
Beaded watches are least costly and are more in demand.
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Concept development along with testing: In this stage, managers of Guess develops
suitable idea. After screening all ideas, managers made decision to innovate the Leather Hand
Beaded watch into Hand Beaded watch. Herein, it selects small group of female and provide
them additional information that is related with the watch. Moreover, they also analyses
reactions of females for the new watch.
Marketing strategy development: It is the stage within which managers of Guess
develops strategies to market the product. For this purpose, e-mail marketing is opted with the
help of which managers will be able to deliver awareness about the Hand Beaded watch through
e-mails that will contain details about prices and features of watch.
Product development: Herein, Guess managers makes determination for developing
Hand Beaded watch and introducing in market. All the important practices are executed for the
purpose of producing together with distributing the watch (Kowalkowski, 2016.). Along with
this, there will be huge coordination and integrations among activities of all departments for
launching it in targetted market of United States.
Test marketing: Managers of Guess in this stage will make attempts to introduce the
Hand Beaded watch on small scale in the small market of California. When suitable results are
achieved by company then it will launch the product at large scale in United States. With this,
they will reduce uncertain aspects that are related to large level marketing.
Commercialisation: After the success of test marketing, managers of Guess introduced
Hand Beaded watch in the entire United States and its surrounding nations. In addition to this,
they also produces the watch in large scale and advertise it by using different promotional
aspects such as radio, magazines, billboards, posters and newspapers.
M1. Consistent demonstration of justified application related to subject knowledge as well as
understanding processes to develop product along with service.
Product develop is all about making significant changes in current offerings or making a
new product that will meet all demands (Cooper, 2001). The stages that are involved in product
development process involves generation of ideas, screening on ideas, developing concepts and
testing in small market, framing marketing strategies, developing product, testing developed
product at small level and commercialising. All these process are followed by managers of Guess
for development of Hand Beaded watch so that more sales demand can be achieved and
maximum customer requirements are satisfied.
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D1. Well articulated, coherent as well as logically presented pitch which has justified approach
for decision making throughout process of development, market launch along with
distribution.
Development of product involves creation of totally new product or some changes in
current commodities that provides additional benefits to customers (Copper, 2011). It is
perceived that the products offered by Guess company passes through distinct product lifecycle
stages. The products which falls in decline stage generally needs development. In case with
Guess, its Leather analog watch was at decline stage and managers framed decisions to innovate
it by eliminating use of leather and using eco friendly threads along with other materials.
Organisational managers framed decision to launch it in in market of California and further
distribute it with the help of suppliers in surrounding nations.
TASK 2
Covered in PPT
TASK 3
Covered in PPT
TASK 4
P6. Completing reflective statement which reflects for team working, development of creative
and presentation.
In the process of preparation of the presentation their were number of activities
performed by each member. Each person in the group involved in the project is making their
contribution for completion of the presentation in effective manner. In preparation of the
presentation my contribution is to make an effective analysis of the life-cycle stages of the
project which is made available through a innovation by the Guess organisation. All the stages of
the project is analysed in effective manner so that various strategies in order to introduce the
market in effective manner is created. While presenting the presentation to others I presented this
product life-cycle stages part. All the information regarding the product life-cycle was available
with me so, I made a effective presentation for others to understand this concept in effective
manner. Each team member was provided with a task in which they are interested and can
perform in best manner. All the team members worked hard to perform their best. As this was
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the first presentation for some of the team members and this generate some amount of
inconvenience for them to deal with the appropriate structure of the report which is made in
presentation form.
Preparation of the presentation was made by assigning a leader for the team so that all the
work can be assigned. Leader also helps in guiding each team member regarding the project and
objective of preparation of the project to make a justifiable preparation. For delivering the
presentation practice is made be each person so that all the audiences can be communicated in
simple and effective manner. Organisation and planning for the work takes place after team
discussion so that each member is involved for their opinion. Final decision must always possess
approval of all the team members so that chances of conflicts is minimised. All the team
members was involved in interaction in formal manner to discuss their work. Some amount of
informal communications also takes place among team members so that good relationship can be
developed.
In group discussion all members provide their opinion and evaluation of each opinion is
made to helps in introduction of creativity to in their team work. Team work was performed well
by all the team members together. As leader guided them all in effective manner and each person
performed their part in most suitable manner to generate best results. The quality of the
presentation was quite good and required any few improvements so that the presentation can be
made in best manner. Issue in the group work was that method used by each person was different
as each individual have their own skills. To improve this issue group discussions must be made
and a commons style of writing must be selected to make improvement in preparation of the
presentation.
M4. Addressing concerns as well as issues with recommendations related to improvements.
It is analysed that various concerns and issues were faced at the time of managing
performances. The main concern was to identify the products of company that were falling in
different stages of product life cycle. Moreover, issue related to communication was more faced
as there was poor communication among group members and limited understanding about what
is performed by whom (Fuller, 2016). It is also faced that works are performed doubled due to
which issue related to duplication of work was analysed. It has been recommended that all work
must be allotted to group members as per the interest and capabilities that can help in improving
performances as all the work was performed as per interest of team members and also. Addition
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to this, it is also recommended that authority responsibility must be made among group members
in which issues related to communication and duplication of work are minimised as group
members will perform different roles as per specified and communicate the same when it is
competed. This can improve all the performance and resolves issues effectively.
D2. Insightful as well as independent reflection on teamwork as well as creative development.
While working with the team members, I enjoyed performing various activities. I made
attempts in analysing lifecycle stages of Guess company and providing sharing valuable
information with other members that helped in engaging with each other and many more. All
members of team worked very hard. Also, various ideas were shared by all that developed my
creativity for presenting the information in concise, understandable and effective manner
(Goodway, Ozmun, and Gallahue, 2019).
CONCLUSION
The above report concluded that it is important for an enterprise to develop its products
so that they can meet requirements on time and gain beneficiary outcomes. Development of
product or service is done in two ways. First is modification in existing offerings and second is
making a product that is completely new. To develop an individual product, business concerns
follows various processes that are involved in new product development so that satisfactory
workings are performed. The stages in the product development includes generation of ideas
from various sources, screening all ideas, concept development, devising marketing strategies,
developing product, testing it in markets and commercialisation. There are various activities
which are performed in team and creativity is developed among team members.
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REFERENCES
Books and Journals:
Ács, Z. J., Szerb, L. and Autio, E., 2016. Global entrepreneurship and development index 2015
(p. 1). Springer.
Bharwani, S. and Mathews, D., 2016. Customer service innovations in the Indian hospitality
industry. Worldwide Hospitality and Tourism Themes.
Brassington F. and Pettitt, S., 2012. Essentials of Marketing. 3rd Ed. Harlow: Pearson. Harlow.
Cavanaugh, J. C. and Blanchard-Fields, F., 2018. Adult development and aging. Cengage
Learning.
Charter, M. and Tischner, U. eds., 2017. Sustainable solutions: developing products and services
for the future. Routledge.
Cooper, R. G., 2001. Winning at New Products: Accelerating the Process from Ideas to Launch.
2nd Ed. Basic Books: New York.
Copper, R. G., 2011. Winning at New Products: Creating Value through Innovation. 4th Ed.
New York: Basic Books.
Fuller, G. W., 2016. New food product development: from concept to marketplace. CRC Press..
Goodway, J. D., Ozmun, J. C. and Gallahue, D. L., 2019. Understanding motor development:
Infants, children, adolescents, adults. Jones & Bartlett Learning.
Kowalkowski, C., 2016. Service innovation in industrial contexts. In Service Innovation (pp.
235-249). Springer, Tokyo.
Pekkola, S. and Ukko, J., 2016. Exploring added value through the service process: a
comparative multiple case study. Benchmarking: An International Journal.
Tukker, A. and Tischner, U. eds., 2017. New business for old Europe: product-service
development, competitiveness and sustainability. Routledge.
Online:
New product development process. 2020. [Online]. Available through:
<http://www.scoopskiller.com/management-materials/marketing-management/new-
product-development/>
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