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Unit 22 Product & Service Development

   

Added on  2020-10-22

7 Pages1267 Words244 Views
Unit 22 Product & Service Development

Table of ContentsINTRODUCTION...........................................................................................................................1Main Body......................................................................................................................................1P.3 Assess the life-cycle stage of the products or services in a company’s portfolio.................1P.4 Evaluate which appropriate product line management choices are required for individualproducts or services.....................................................................................................................2Conclusion.......................................................................................................................................2

INTRODUCTIONProduct and service development is a process of developing a new service or product byimplementing various strategies and market analysis. In this present report McDonald's has beenchosen for assessment. McDonald's is a Multinational company of fast food which gotestablished in 1940 by San Bernardino. Organisation has more than 37000 restaurants in all overthe world. This report will focus on the life-cycle stage of the products or services in acompany’s portfolio. In addition to this, appropriate product line management choices will bediscussed in detail. Main BodyP.3 Assess the life-cycle stage of the products or services in a company’s portfolio. is something through a product goes from starting to its end use. There are majorly fourstages of product life cycle which helps in development of a product. In context to McDonald's,company is planning to launch a new food in its menu which will be introduced by the company(Tukker and Tischner, 2017). McDonald's is planning to introduce such fast food which will below in calories and it will be prepared after focusing on diet plans of people. As in today's worldpeople are very much concern about their health and follow the diet plans for the same. Todevelop the diet plan McDonald's will also access the life-cycle stages of the product.Life-cycle stages of products :There are four stages of product life cycle which are being managed by the company in order tolaunch a new product. All the stages are defined below in detail. 1Illustration 1: Life cycle of product(Source:Life cycle of product, 2017 )

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