Globalisation's Impact on New Product Development: Mark & Spencer

This project examines the impact of globalisation on new product development, focusing on Mark & Spencer. It begins with an introduction to globalisation and its effects on international trade, culture, and business. The aim is to assess globalisation's influence on new product development, with objectives including defining globalisation, identifying factors impacting product development, analyzing challenges faced by Mark & Spencer, and suggesting improvements. The project covers research methods, data analysis from questionnaires, and a reflection on the effectiveness of the research methods used, including inductive and descriptive approaches. The study concludes with recommendations for Mark & Spencer, such as identifying opportunities, gathering market information, developing products based on client needs, and conducting thorough testing. The report emphasizes project management, cost, time, and resource management. The project aims to provide insights into how companies can better develop new products in a global market.

Topic
To access the impact of globalisation on new product
development. A study on Mark & Spenser.
UNIT 11 RP

INTRODUCTION
 Globalisation is process that aids to development in economical, cultural and political relations
among all the countries. It is integration of industries, markets and policy making around the
world (Abrol, Prajapati and Singh, 2017).
 The enhancement in global interaction leads to have growth of international trade, ideas and
culture. This is very crucial process sue to the immense benefits provided. Thus, it encompass
increase in trade and liberalization policies as will as reduction in transportation cost and
technology transfer (Impact of globalization on Small Scale Business, 2014.)).
 The present report is based on business activities of Mark & Spenser group Plc, it is British
multinational retailer that deals in selling cloth, home products and luxury food commodities.

AIM & OBJECTIVES
Aim
To access the impact of globalization on new product development. A study on Mark & Spenser.
OBJECTIVES
 To determine the concept of globalization
 To identify the factors of globalization that impact “to create and market a brand-new summer
shoe”.
 To analyses the challenges faced by Mark & Spencer for undertaking new product development at
global level.
 To provide the suggestive measures that aids to new product development at the global level.

Theme 2: The globalization helps to generate long term
profitability.
Interpretation- From the basis of above
chart it can be concluded that globalization
is term that aids to generate long term
profitability. Thus, there are total number of
30 respondents. Among this, 25 said yes, 3
said no and 2 are not sure of it. Thus,
majority of participants said that the
globalization leads to enhance the
profitability of market.
Yes
No
May be
0 5 10 15 20 25 30
25
3
2
Frequencies

CONCLUSION
Based on the above report it can be concluded that globalization is the process that aids to develop the
process of interaction and integration among the people on an international scale. It has to be conducted
in terms to find out the deeper integration between the countries and regions of the world.
The present study is based on access the impact of globalisation on new product development. Herein, the
report has covered the project management that helps to defined the cost, time and resources so research
can get done appropriately.
Thus, data analysis has been conducted in terms to evaluate the information about the questionnaire that has
been conducted in research. Lastly, the recommendation has been given in terms to improvise the
globalisation process and to identify that how firm can develop new product in market in better way.

Reflection on the effectiveness of research methods
 From this research I have learned that research methods like Inductive
are now broadly used in various areas like creating loyal customers,
enhancing sales and marketing, management of sales services.
 With the good experience from this project I found the best ways to
approach things. I seek to obtain more knowledge about the impact of
digital technology on Qbic.
 It was difficult to gather data through qualitative method but I found
fresh and new information.
 Descriptive method was good for me because it gave me accurate
predictions through employees of Qbic hotel.

RECOMMENDATION
On the basis of above points, the recommendation to create and market the product as Summer shoe to the
company at the global level has been discussed as-
 The firm as Mark & Spenser should work as to identify the opportunities and to generate the new idea
to fill it so that enterprise can conduct its activities in expertise mode.
 The market should gather the information and that must be based on trends and strategic objectives.
 The entity must take initiatives in terms to develop the commodities with help of identifying the need
of potential clients so that they can able to stand out the competition.
 Before, develop the product at the global level firm need get done the testing procedures so if there is
any deviation in commodity then correct action can be taken.

REFERENCES
 Abrol, D., Prajapati, P. and Singh, N., 2017. Globalization of the Indian pharmaceutical
industry: implications for innovation. Institutions and Economies.
 Cramer, J., 2017. Corporate Social Responsibility and Globalisation: an action plan for
business. Routledge.
 Du Plessis, J.J., Varottil, U. and Veldman, J. eds., 2018. Globalisation of Corporate Social
Responsibility and Its Impact on Corporate Governance. Springer.
 Evrard, A.Y., 2017. Modernity at Large: Cultural Dimensions of Globalisation. Macat
Library.
 Krugman, P., 2017. Crises: The price of globalisation?. In Economics of Globalisation .
Routledge.

THANK YOU