Product and Services Development

Product and
Services
Development

Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Description about each and stage of NPD process for new & improved product development
................................................................................................................................................1
P2Applicationof these processes to the development of a particular organisational product or
service.....................................................................................................................................3
TASK 2............................................................................................................................................5
P3Analysing life-cycle stage of different products or services..............................................5
P4: Appropriate product line management choices are required for individual products or
services...................................................................................................................................6
TASK 3............................................................................................................................................7
P5 Design of a market testing, product/service launch & distribution...................................7
TASK 4............................................................................................................................................8
P6 Reflective statement that reflects on creative development, team working & presentation.
................................................................................................................................................8
CONCLUSON.................................................................................................................................9
REFERNECES..............................................................................................................................10

INTRODUCTION
In the present competitive environment, the main aim of each and every business entity is to
satisfy requirements of customers by offering them high quality products and services. This will
assist them in order to grab opportunities at the competitive marketplace which leads towards the
success of business entity. In this report, according to the given scenario a junior product
manager within the organization Tesco is going to examine different innovative ideas in order to
launch a new product at the competitive market which leads towards ensuring continuous
growth and development of the business organisation. The is the report includes introduction or
overviews about the organisation along with various sort of products & services offered by Tesco
to their customers. This report consist of description about the products portfolio of the chosen
organization along with life cycle phases. Along with this it includes 7Ps strategy as well as
Porter’s five force model. In addition to this, new product development procedure are also going
to be discussed in this report on the basis of which reflection is also included at the end.
TASK 1
Description about each and stage of NPD process for new & improved product development
Overview:
Tesco is a United Kingdom based retail business organisation which provides ample number of
goods and services to their customers across the whole wide world. It has also been said that
Tesco has its presence around various countries such as China, Greece, Thailand, Argentina. In
recent years, it has been identified that Tesco made efforts in order to understand requirements
of the marketplace and then produce goods and services accordingly so that they can satisfy the
requirements of customers. Apart from this, there are large number of rivalry firms available at
the marketplace related to retail industry. Some of these competitors includes Wal-Mart, ASDA,
ALDI and many other retail sector companies. There are various new and innovative products
produced by Tesco which includes in the product portfolio.
Product portfolio
Hair and care
Jewellery
Clothing
Baby toddler
Home appliances
1