Product & Service Development (Unit 22)

Product and Service
Development (Unit 22)

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................2
TASK 1............................................................................................................................................2
P1 Explain processes involved in development of products and services and levels of
customer integration....................................................................................................................2
P2 Apply processes in application to development of Ikea's product or service.......................5
TASK 2............................................................................................................................................7
P3 Assessment of life cycle stage of products or services in a portfolio of company.............7
P4 Evaluate which appropriate product line management choices are required for individual
products or services. ...................................................................................................................9
TASK 3..........................................................................................................................................10
P5 Design and pitch a producer service taking in to account market testing, product or service
launch and distribution..............................................................................................................10
TASK 4..........................................................................................................................................12
P6 Complete a reflective statement that critically reflects on team working, creative
development and presentation...................................................................................................12
Reflection .................................................................................................................................12
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Product development is defined to all stages that are involved in bringing a product from
concept or idea by having market release and its beyond. In general words products development
operates a product's entire journey. It is a complete process of delivering a new product or
enhancing an existing and present products for customers(Bustinza, and et. al. 2019). Customers
could be external or internal in companies. Product development generally supports various
types of products from software to hardware to consumer goods and services. A accurate product
development provides companies a method to explore new products ideas and learn what
customers is required in early stages of conceptualisation(Smith, Sochor and Karlsson, 2018) .
While service development is defined as an end to end method of developing and launching a
new service to be sell to to customers. It basically consists markets service strategy, customer
experience, marketing, operations, market research and having launch of new services. This
report is based on product and service development in Ikea, which is a Swedish multinational
conglomerate company which designs and sells ready to assemble furniture, home appliances
and home accessories in other useful products as well as occasionally home services. It is
considered as a world's largest furniture retailer company. This report includes process involved
in enhancement of products and services, processes in application to development of product or
services, assessment of product life cycle, evaluation of product line management, pitch for
product and service testing, reflection along with its conclusion.
IKEA 's portfolio
Products Examples
Furniture Table desks, chairs and stools
Cookware Kitchen utensils, crockery, tableware
Bath ware Bathroom shower, wash basin, bathroom fittings
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MAIN BODY
TASK 1
P1 Explain processes involved in development of products and services and levels of
customer integration.
Illustration 1: Illustration 1
Product development process is defined as an encompasses of all steps and procedures
that are needed take a product from topic to market availability(Cooper, 2019) . Product
development process includes determining and identification of a market requirement,
researching competitive landscape, conceptualising a solution, enhancing a product roadmap,
building a less viable product etc. in terms of Ikea, company is having a new product
development in launching new kitchen appliances like automatic electric chimneys and
automatic microwaves in their company. As customers are now mostly preferring products and
services that provides them comfortability and ease(New product development,2021) . So
according to required demand and fulfil needs of customers. Ikea could launch electric chimneys
and automatic microwaves. For introducing new product and service of company in markets it is
important to carry various steps like idea generation in which idea of product is determined in
mind of company, idea screening in which idea of launching microwave is screened and
analysed, then concept development in carried in which concept of microwave is tested in
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