Grenson Footwear: A New Product Line- Business Management Project

Desklib provides past papers and solved assignments. This project analyzes Grenson's new footwear product line.

Business management project – Creating a new
product
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Executive Summary
The assessment is done on the advents of approving the ideologies of developing a
product line of footwear. The analysis is going to be made on the features of
manufacturing line and the marketing techniques and how well it asserts on the facts of
uplifting the quality of the product. The research has been undertaken through the
means of primary data collection methods in the qualitative and quantitative analysis.
The outcomes are analysed with the help of the performance review to monitor the
progression of the business project, in order to evaluate the impact of the consumer
trends in the footwear industry.
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Table of Contents
Introduction....................................................................................................................................6
Task.................................................................................................................................................7
Conclusion....................................................................................................................................35
Reference List..............................................................................................................................36
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Introduction
The global stage has come across on the extensive implementation of the marketing
techniques on the domains of online marketing in order to undertake the activities of
promoting a product (Kasriel-Alexander, 2016). The international fashion industry has
been observant to the intensive use of the social media promotion in the terms of the
footwear section. The organisation of the Genson is one of the influential companies in
the roles of asserting the market influences in the consumption inclinations of shoes.
The business project is going to be undertaken on the company of Genson and how it
instantites on the creation and marketing of a new shoe product line.
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Task
A complete project management plan (a and b)
(a) Establish your aims and objectives for the project. Outline the objectives and
time frames based on the scenario set
Project description
The market of the fashion industry has been always observant to the increase in the
number of consumer trends (O’Sullivan et al., 2015) In order to transcend on the
successful ventures of promoting a shoe product line, the organisation has to undertake
extensive research of the market info graphic and consumer profiling. The research
objectives will instantiate on the probable strategies that would enable the company to
challenge its competitors in the accessory industry.
Aim
The aim of the project is to identify the appropriate marketing trends and competitors, to
design a strategy that would be helpful to the development of the launch event.
Objective
The research objectives are based on the following outcomes:
 To identify the market trends of the consumer purchases
 To evaluate the prevalent channels of marketing
 To assess the competitors in the market
 To devise a strategy for successfully putting together a launch event
Project Scope
Included Scope
The scope is devised on the assets of performing the research through the following
manner:
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 The project will be undertaken based on qualitative and quantitative research
(Larson, and Gray, 2015).
 The quantitative research will be achieved through the means of the survey and
the participants will include the employees of Grenson
 The qualitative research will be performed by the prospects of interview and
would involve the managers.
Excluded Scope
The project will not be able to transcend on the findings of the secondary sources of the
data, thus it will restrict the assertions of the valuable data on the footwear industry that
is available on the online peer reviewed journals.
Project Limitation
As the research is going to be a small scale one, hence the research would be
restricted within a short time frame and pose as a threat.
Quality Management
The quality and management of the product can be improved through the utilization of
expertise materials and resources. This will have an impact on the growth of the
productivity and efficiency of the business. The research project and survey will be
initiated through the medium of questionnaires and interviews (Siva et al., 2016). This
would influence the growth of the business and help in undertaking research
improvements for the company. Therefore, the researcher will make the use of these
quality and deliverables for the growth of the company. It will maintain the high-end
quality of the project and initiate a better understanding of the business.
Deliverables
The deliverables that are presented during the learning outcome of the project is
essential, as it would cater to the improvements in service. However, the researcher will
outline the essential figures that would influence the research outcomes for the shoe
manufacturing company known as Grenson in the UK. However, the main motive and
purpose of the research is to initiate in the surveys and interviews, which are important
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for the company. Therefore, it will prove to be beneficial to the growth of the business
and the progress of the research outcomes for the company. This would boost the
influence and impact of the business and research to progress in its dealings.
Success Criteria
It is important to evaluate the success criteria of the research, which is important for
growth, and influence of business. Therefore, the company Grenson would initiate in the
proper and effective growth of the research outcomes through the medium of better
objectives for the company. However, in order to resolve these issues it is very
important to understand the success-measured factor that would initiate growth in the
company. That would make the company capable of producing good and effective
results for exposition of the research outcomes. However, it would also evaluate the
nature of the product along with its process, which is important for the company in the
achievement of results.
(b) Produce an appropriate project management plan that includes relevant
actions to meet objectives and time frames
Activities Time (hours) Cost Per Hour (£) Total cost (£)
Identifying the
resources that are
required for
manufacturing
shoes and
developing
marketing strategy
25 15 375
The allocation of the
research requisites
to the development
of the production
line
20 5 100
Collecting 22 12 264
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information through
the primary and
secondary data
collection
Analysis of the data
received through
the qualitative and
quantitative
research
28 18 504
Developing the
product by adhering
to the
Standardization of
Procedure
12 5 60
Monitoring the
progress of the
project plan
12 15 180
Total 1363
Table 1: Cost and Time management plan
Activity Start Date Duration End Date
Introduction of the
project.
1/29/2019 2 1/31/2019
Assertions of the
objective
1/31/2019 1 2/1/2019
Identifying the theme 2/1/2019 1 2/2/2019
Accessing the the
scope of the research
2/2/2019 3 2/5/2019
Finalisation finances
on the financial
budget
2/5/2019 2 2/7/2019
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Creating the research
objectives
2/7/2019 4 2/11/2019
Communicating with
the managers and
production employees
2/11/2019 1 2/12/2019
Forming the
questionnaire that
asserts the influence
of the respondents
2/12/2019 3 2/15/2019
Developing the Risk
assessment log
2/15/2019 1 2/16/2019
Instantiating the
research methodology
1/29/2019 2 1/31/2019
Assertion of the
appropriate data
collection methods
1/31/2019 1 2/1/2019
Providing an time
estimation of the
interviewing methods
2/1/2019 1 2/2/2019
Information analysis 2/2/2019 3 2/5/2019
Interview Analysis 2/5/2019 2 2/7/2019
Survey Analysis 2/7/2019 4 2/11/2019
Providing the
recommendations
2/11/2019 1 2/12/2019
Developing the
research
documentation
strategy
2/12/2019 3 2/15/2019
Table 2: Work Breakdown Structure
Figure 1: Gantt chart
Monitoring Activities
Activities Examination of activities
Selection of Theme Managed by the Project Manager
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Identifying the objective Managed by the project manager
and other managerial heads
Finalisation finances on the financial budget Managed by the finance manager
Developing the Risk assessment log Managed by the technical supervisor
Analyzing the information gathered. Managed by the project manager
Recommending solutions Managed by the project coordinator
Table 3: Monitoring Plan
Risk management log
Risk
description
Risk
impact
Probability
of
occurrenc
e
Project
impact
Consequence Risk owner
The fewer
scopes of
acquiring the
resources with
less amount of
time scopes
High Low Incomplete
shutting off
the research
project
The priority will
be more on
completing the
project rather
than the
maintaining
standards of the
project
Project
Manager
The
predicaments
of introducing
the 3d printing
High Medium The research
will be
delayed and
add up on
The product
developed
through the
faulty installation
Project
Manager
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Introduction of the project.
Identifying the theme
Finalisation finances on the
financial budget
Communicating with the
managers and production
employees
Developing the Risk assessment log
2/2 2/4 2/6 2/8 2/10 2/12 2/14 2/16 2/18

process are
due to low
technical
incorporations.
the increases
of expenses
of 3d printing
would severely
lack in design
The absence
of
interpersonal
skills that
reflect on
ineffective
communicatio
n
Medium Low Improper
alignment to
the research
objectives
The improper
assertions of
delimiting the
research
outcomes on the
lines of attaining
the deadline of
the launch event
Project
Manager
Absence of
appropriate
responses
High Low The
aspirations of
attaining the
probable
research
outcomes will
be
hampered.
The quality of
the project gets
adversely
affected.
Project
Manager
Table 2: Risk Assessment Plan
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(c) Conduct research to generate knowledge, which will form the basis for
analysis of the scenario posed in the brief
Quantitative analysis
Introduction
Significance of Product development
In the words of Fuller (2016), product development is an important aspect of marketing
which is favourable in its approach for business. The products are developed due to
high rate of failure, which affects the growth of the business. With the changes in
designs and structure of the product, the companies are able to remodel the new
services and make them tangible in nature. As opined by Chang (2016) the significance
of the product development has its impact in boosting customer participation for the
companies. It also leads the business to venture into newer markets and helps them to
proceed with its business prerogatives.
Marketing and Promotional strategies for new products
As stated by Gillespie (2015), the new products manufactured in the market can be
improved through events and promotional plans. In order to lure the customers, it is
important for the business to procure a healthy customer base for its business
undertakings. As stated by Armstrong (2015), the companies can inculcate team events
and make the use of the social media marketing. This would have an impact on
increasing the awareness of the new products in the company. However, it can also
boost the marketing strategies for the business owners and help them to initiate in
comprehension of objectives for the business.
Literature Gap
There exists a gap in the literature, as there are elements and factors that are significant
for the development of the new products. However, the research could have integrated
the use of prominent factors such as the current trends, which are in operation in the
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