Original Creations: Product Development and Market Analysis Report

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This report provides a comprehensive business consultancy analysis of Original Creations, a company specializing in lifestyle products. The executive summary highlights the importance of new product development for business success and the role of consultancy in addressing key issues. The report delves into the reasons for the consultancy, including challenges with product development, declining sales, product quality concerns, operational inefficiencies, and customer service issues. Key issues identified include underperforming lifestyle products, declining sales, product returns, damaged goods, insufficient digital marketing, an inexperienced HR staff, and a lack of a customer contact roadmap. The report recommends strategies to improve sales, such as customer development, effective pricing, and a focus on customer retention. It also suggests that research and development be prioritized to avoid product returns, and that investments in digital marketing and HR staff training should be made. The report emphasizes the need for a clear product development approach, with a focus on market research to forecast demand and improve overall operational efficiency.
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FOUNDATIONS OF
BUSINESS MANAGEMENT
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EXECUTIVE SUMMARY
Business consultancy is advising, providing information, providing insights and providing
recommendation to help clients reach their goals and solve problems. New product development
is very important for the business as it helps them gain the success that is required for the
management of the organization. Consultancy is taken by the business for the purpose of gaining
the success that is required for the growth that is essential for the business. Operational
efficiency is some that is required for all the organization to be successful in their market.
Management of the key issues is going to be the reason for the business consultancy in most
organization.
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TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................2
MAIN BODY..................................................................................................................................4
PART 1............................................................................................................................................4
INTRODUCTION...........................................................................................................................4
REASONS...................................................................................................................................4
KEY ISSUES PRESENT AT ORIGINAL CREATIONS..........................................................5
RECOMMEDATIONS................................................................................................................8
CONCLUSIONS.........................................................................................................................9
PART 2..........................................................................................................................................10
REFERENCES..............................................................................................................................13
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MAIN BODY
PART 1
INTRODUCTION
Original creations are able to provide high quality of artwork that is present in the industries.
The products of this organization are based on the lifestyle products that are direct mail brochure
internet. These products which are market include the rain wear for dogs and cats. The products
of this organization are very creative it is considered to be the key of automatic air freshener for
the bathrooms. It has over one hundred individual personal items that include the hair clippers,
blood pressure monitor and exfoliate scrubs. In this project the ways in which the company can
develop better products and better assess and forecast the market potential has been reported.
This organization is the knowledge base that is required for the clear evidence of reading about
the topic that is effective for beyond the area of discussion in the class. In this project the
exploration of the specific business reasons for the consultation of the report has been explained
in the business case. This report will be exploring certain reasons for consultancy report to the
business case. From this report the key issues present in the Original creation related to its
product development and forecasting of their demand will be discussed and then recommended.
REASONS
There are different reasons for the creation of this consultancy report that is going to be
prepared for Original creations case are,
Original creations as an organization has always been looking for ideas towards the
development of a new product. It helps in keeping sales moving novelty and interest. This
organization very consistently change he product from the website and its brochure
(Haruna, 2022). This is the reason due to which it requires consultancy regarding the
products. Not all the products that it comes up are success many of them face a failure.
Consultancy is going to provide high returns and less damage and losses.
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As the business is facing issues regarding the low sales it is going to be effective for this
organization to be able to gather the growth that is required for the management of the
performance. There are products such as the toenail clipper that is stacking up in the
warehouse and are not being sold. This is increasing the businesses warehousing cost. It
is considered to be very important for the organization to be able to profitable in the
market.
Consultancy is important for original creations because they have an issues regarding the
quality of the products. The product quality of the company has been lower than the
expected due to which it is going to require consultancy regarding how to improve the
goods and their usefulness. This would decrease the customer complaints and will be the
contribution of the business towards effective management (Bencheva and Stoeva, 2018).
It is said to be the factor that would help in the satisfaction of the cost of manufacturing
which would have higher returns.
The business of the organization is considered to be the factor that would be very
effective for the management of the operations that includes logistics, facilities
management, sourcing of the products and other materials, transportation, etc. These
factors are considered to be the key factor that influences the ways in which the projects
can be managed for the involving the areas of sources of the product and other materials
(Pruthi, 2021). Focus of the organization are considered to be the key factor that brings
the growth in the organizational operations.
Consultation of this organization has to be said as the factor that is going to be very
essential aspect towards the ways in which they can manage the small customer services
team that handles customer issues such as the product enquires and payments warranty of
non-delivery and product complains. This would be very effective for the business to be
able to gather the information that is required for the management of the operations
which are considered to be very effective for the organization. Certain factors that are
considered to be the key for the growth of the business is said to be the reason that would
help the business manage the growth.
KEY ISSUES PRESENT AT ORIGINAL CREATIONS
Original creation is having its widely disseminated business activities. The organization is facing
some challenges throughout the period since the market dynamics are quite fumbling. These are
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some key issues pertaining to business operations which are somehow reflecting need of
developing better products and reassessing the demand factor. The lifestyle products of Original
Creation are not performing as they are intended Eyles, et. al. (2019) It is fond that there are
some issues in its overall performance and operations which are behind poor marketing
performance. In last 10 attempt of coming up with new products the entity has faced failure so
the potential issues are as-
Sales is getting toppled- the organization is going through a severe challenge since its sales is
going down as compares to the expected amount. It is somehow surging the warehouse cost too.
The covered space by these unsold units are pouring up more cost so the organization is bearing
additional costing which may be taken as a big threat. There are number of reasons but the
biggest reason behind this failure is recklessness form the organization side. This is 10th continue
failure in term of new product development Govindan, et. al. (2019) The biggest challenge is
about the additional cost. Since the course of events imparted to introduce new product is quite
rigid the organization is having need to invest lacs of bucks so in such predicament it would be
very difficult to develop such flopping products on regular interval.
Some products such as Clippers are being returned- It is found that there are hyper instances
taking place with the organization where the customers are returning products. They are having
sort of complaints about the quality and usefulness. Since the market expectations are quite
higher and the available products are not able to fulfil or to meet those paradigms. So in such
predicament the entity may face drastic repercussions in term of its sales. There is also need to
forecast the demand appropriately since the organization is regularly bearing poor sales and
products are be returned so there is need to reassess its production.
Damaged goods- This issue was also found that the goods of the entity are damaged, besides
there usefulness, or quality the entity is not able to transmit its goods in their best form. The
customers are not getting it safely. It is not only eradicating a better image but also pouring on
extra cost so the entity is bearing additional cost. The issue is coming up with some challenges.
The organization has failed multiple times and it is not able to uphold its ideas among customers
Friel, (2020)
Little investments in digital marketing- The organizational investments are quite lower when it
comes to their investments in digital marketing. It is not only impacting their sales but they are
not able to take competitive advantage in the market. It is seen that their competitors are having
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great diaspora in term of digital marketing but the entity is far away form that. This lacuna is
giving age to the competitors. The investments are quite needed since the market dynamics are
leading organization to perform on the mark Suresh, (2021) It is bearing regular failures in term
of introduction of new products. So there may be issues due to poor investments in its digital
marketing strategy.
Small and inexperienced HR staff- The staff of the organization is not much experienced
specifically their HR personnel. So it is not only impacting their performance but also kicking off
some issues such as efficiency, cost effectiveness, productivity etc. This may introduce some
drastic challenges before the entity. The organization is lacking in term of its market influence so
the fact can not be rejected that it is somehow impacting performance of Original Creation. The
inexperienced HR staff is a big threat since it offers some drastic challenges to the entity. With
such inexperienced staff it would not be simpler to hike the products in market. The entity is
regularly facing issues of product failure so this poor HR staff might be responsible to certain
degree.
No proper roadmap when it comes to contacting customers after launching product- The
entity is facing challenge since they are picking some small constellations of their customers
after launching the new product. It is impacting their ability to make proper decision pertaining
to customer influenced program. This problem would be fetching some more issues such as
improper judgement and that would ultimately lead poor performance. Some inferences are
being used so it is not only creating jeopardies but reflecting negative impacts in short run
Calixto, (2019)
Inappropriate approach to develop a new product- as the management found that there is no
proper roadmap or mechanism in the entity pertaining to their approach to develop a new
product. As it was seen that some personal perceptions are being used while making
organizational decisions. Which is not a fair practise specifically in the present business realm.
This is found as one of the most affective cause which is not only bringing negative impacts on
the sales but are also making the organizational operational perilous. For instance, it is found that
some times own or personal judgements were taken into consideration. There is need to have
such an absolute mechanism to do so.
So from the evaluation above it can be interpreted that there are range of issues
organization is going through. These problems are coming up with some mammoth challenges
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such as confronting with higher cost, increasing cost of manufacturing, improper HR
management, lack of attention in term of digital marketing efforts, so on. These malpractices are
leading to losses. As it has been experienced that these all issue are having their strategic
influence on the ability or performance of Original creation.
RECOMMEDATIONS
From the above issues that has been recognized for Original creation the following
recommendations can be made,
In order to manage the poor sales of the business it can focus on the development of new
customers that can be done through the means of marketing, sales promotion and
providing better customers value. Retaining of the customers is going to be very
important factor for this business to increase its sales and manage the overall operations
that impact the transaction size and frequency. The focus of the transaction size is
considered to be the factor that would also play an important role in the sales (Moses,
2019). Establishment of effective pricing strategies as per the market would be the key
towards better competitive growth.
Focusing on research and development for new product development would help the
business avoid issues such as product getting returned example, clippers that are being
returned. For this business the purpose of growth is considered to be the key factor that
can be considered to be the feature required for the management of the better products
which gives the growth that is required. It helps the business investment being made in
products that can lead to poor and negative results.
In order to increase the brand image of the organization it is going to be very essential for
this business to increase its digital marketing investments (Kwon, Mlecnik and Gruis,
2021). The focus of this organization needs to be on the digital means of the marketing
which influences the business to gain the income that is required. For the generation of
income required for the business it is going to be very important for the business to
generate the profit that is required for the organization to generate income. It is said to be
the factor that is able to give the business the success that is required and essential for the
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management of the operations. Being able to gain the success the business would be able
to manage the operations.
For this organization the consultation is going to help the operations develop a proper
road map that is going to explain the factors required to be assed for the better
management of the organization. This is going to help the business generate a new
system that is going to help the business manage the growth that is essential and effective
(Adesi, Owusu-Manu and Murphy, 2018). Being able to provide the organization with
the success is going to be very important factor for the growth. This is considered to be
the reason that the business can generate the success that is required. It is said to be the
factor that was considered to be the factor that allowed the customers gain the launching
production.
For this organization launching is going to be the key factor that is essential for launching
the business. It has been seeming that the business is able to generate the growth in the
organization with the measurement of the understanding the requirements of the new
product development (15 Proven Strategies to Improve Sales Performance, 2022). It has
been found that this business can be able to generate the success with the management of
the operations that is required for the better operations of the organization (Meijer, Straub
and Mlecnik, 2018). It is considered that the organization is able to generate the
operations that is going to be able to create the success that is required for the
development of effective operations.
In this organization a new approach can be a very effective factor that would help in the
management to enter new markets and increase its market operations. From these
operations it can be understood that the business is able to get more efficiency when it is
able to gather the HR experiences that are required for better road mapping that is going
to contract the customers. Certain factors in the organization are considered to be the key
influence that requires the business to manage the operations and help the business with
management of the current understanding.
CONCLUSIONS
From the above project it can be concluded that the growth of the organization is directly
depending on the ways in which it is going use the consultancy for better management. In this
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project the major reason Origin creation requires consultancy has been highlighted for better
operations. This can be said as the factor that helps the business to operate very effectively. It has
been considered that the development of the organizational growth is regarding the success that
the business is able to generate. In this project the discussion of the key issues that help the
business gain success has been analysed and evaluated. From this project the organizational
success and the effectiveness of the operations has been determined.
PART 2
My learning experience has been very effective that has influenced learning and the skills
and the ways they took the business case for this assignment. It has been considered that the
development of the key skills in the initial learning in the unit that has become the business case.
From the 6th week the knowledge base and HR regarding the different types of motivation has
been considered to have helped me develop better communication skills which were related to
both the verbal communication and written communication. It has also allowed me to develop
the better social interaction with the other individuals for being able to analyse the understanding
which I was able to develop from the better discussion, presentation regarding the Human
resource activities. The development of such operations have been considered to be able to
generate the key level of success which was required for my own development. As far as the
motivation was concerned it was the factor which allowed me to generate the success that was
required for the understanding of motivational areas.
I want to provide the proper details that are essential for the assignment to support the
submission and assignment for the gathering of the required details. In the 7th week of this
knowledge of the communication was provided regarding the was provided in the way of
communication skills. It was rather found that the understanding of the organization is said to
develop between the communication was through the management of the various assignment that
are considered to be the helpful for me to improve my communication skills. In this assignment
my written communication skills were test that helped me to improve the ways in which I am
able to gather the information as well as the operational effectiveness which were required for
the assessment of better communicational experiences. This can also be considered to be the
factor that allowed the individuals to be the key factor of consideration that allowed the
management of practices which were required for generating the success that was required. It
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helped me to develop a very effective understanding of the areas of development in the
communication standards. There were areas that helped me to be able to focus on the success
which was necessary of the achievement of new strategies.
I experienced information technology in the 8th week of study which was considered to be
the factor that developed the influence that was considered to be the key factor of success. The
development of the operational practices was said to gain new practices that led to the focusing
more on the practices that are considered new ways of managing success. IT was considered to
be the very effective learning for me to develop my communicational practices which were said
to be the action that was taken by me for management of the new practices required for the
development of the success. Being able to find the practices which are key for the development
of innovation and innovation was said to be able to manage the factors which are considered to
be the factor that allowed me to be able to find the success that was required for the management
of the learning.
In this given study programme, I was able to develop the understanding of the ways in
which innovation and international business would be beneficial for me in the future learning.
Focusing on the areas of success would be the key factor of development that allowed me to
manage the success. For me the learning of ways of communicating in the international business
was the factor that contributed towards the success. The was considered to be the factor that
allowed me to generate the success through development of key understanding of how the factors
work and how it can manage help in improving the learning about the certain things. It was very
important for me to be able to develop better understanding of the practices that would be the
key towards the ways in which I can generate the success required. In these assessments I was
able to manage the development of the new practices that are going to help me generate the
factor which would be the towards the ways in which I can manage the success.
Being able to manage the learning through the assessment of this week was considered to be
the factor which allowed me to learn communication effectively through better growth and
learning of the operations. It was considered that the growth of the business was considered to be
the creation of the operational factors which have contributed towards the practices that had
made me better in the communication practices. I was able to generate the success that has
helped the factors that was considered to be able to manage the development of the new
operations towards the contribution of success.
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REFERENCES
Books and Journals
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quantity surveying consultancy services. Engineering, Construction and Architectural
Management.
Bencheva, N. and Stoeva, T., 2018. Key Skills and Competences for Social Business Advisors:
Views from Experts. International Journal of Organizational Leadership. 7. pp.413-
425.
Calixto, J. B., 2019. The role of natural products in modern drug discovery. Anais da Academia
Brasileira de Ciências. 91.
Eyles, J. E., et. al. 2019. Cell therapy products: focus on issues with manufacturing and quality
control of chimeric antigen receptor T‐cell therapies. Journal of Chemical Technology &
Biotechnology. 94(4). pp.1008-1016.
Friel, M., 2020. Tourism as a driver in the space economy: New products for intrepid travellers.
Current Issues in Tourism. 23(13). pp.1581-1586.
Govindan, K., et. al. 2019. Marketing issues for remanufactured products. Journal of Cleaner
Production. 227. pp.890-899.
Guha, S., 2020. The Opportunities and Problems of Small Engineering Consultancy Businesses
in Australia in Post-COVID-19. Globsyn Management Journal. 14(1/2). pp.78-81.
Haruna, A.I., 2022. Determining the Necessary Requirements for Developing a Business-to-
Business Application: A Consultancy-Based Analysis. European Journal of Humanities
and Social Sciences. 2(1). pp.36-47.
Kwon, M., Mlecnik, E. and Gruis, V., 2021. Business Model Development for Temporary Home
Renovation Consultancy Centres: Experiences from European Pop-Ups. Sustainability
2021. 13. 8450. Bringing Governance Back Home, p.147.
Meijer, F., Straub, A. and Mlecnik, E., 2018. Consultancy centres and pop-ups as local authority
policy instruments to stimulate adoption of energy efficiency by
homeowners. Sustainability. 10(8). p.2734.
Moses, L.G., 2019. Growing and Nurturing Your Evaluation Business When Your Independent
Consultancy Becomes an Employer. New Directions for Evaluation. 2019(164). pp.115-
126.
Pruthi, S., 2021. From a One-Man Consultancy to a Global Business Empire Connecting Back
Home: The Case of Purico Limited. In Indian Entrepreneurship (pp. 99-124). Springer,
Singapore.
Suresh, A., 2021. Value chain of fish and fishery products: Global status, issues and
opportunities. ICAR-Central Institute of Fisheries Technology.
Online
15 Proven Strategies to Improve Sales Performance, 2022 [Online]. Available through: <
https://www.highspot.com/blog/15-proven-strategies-to-improve-sales-performance/>
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