Product and Service Development Report: Guess and Product Lifecycle

This report delves into the product and service development processes, using Guess, a clothing brand and retail store, as a case study. The report begins by exploring the product development process, emphasizing customer integration, and then applies this process to the development of a specific product, the hand-beaded watch. It further assesses the product lifecycle stages of Guess's offerings, analyzing the challenges of products in decline. The report then examines product line management choices, followed by the design and pitching of a new product, taking into account market testing, product launch, and distribution strategies. Finally, the report concludes with a reflective statement on team working and creative development during the product development process, offering a comprehensive overview of product management principles.

Product and Service
Development

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1. Product development process and the level of customer integration....................................3
P2. Processes in application to the development of a specific organisational product................6
TASK 2............................................................................................................................................7
P3. Assess the life-cycle stage of the products or services in a company’s portfolio.................7
P4. Product line management choices required for individual products or services...................8
TASK 3............................................................................................................................................9
P5. Design and pitch a product or service taking in to account market testing, product/service
launch and distribution................................................................................................................9
TASK 4..........................................................................................................................................11
P6. Reflective statement that critically reflects on team working, creative development.........11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Development of products and services considered as the prominent engagement of all the
significant status in terms of bringing suitable products undertaking opinion to market release. It
depicts prominent changes in the existing products and formulation of prominent new tangible
and intangible elements that have suitable desire to satisfy the wants and preferences of
customers (Ács, Szerb and Autio, 2016). To prominently understand regarding the production
services development Guess is considered which is a clothing brand and retail store. Besides this
it also tends to provide several fashion accessories and perfume including watches bags and so
on. The report trends to cover the prominent development of suitable products and services and
also apply the process to the specific commodity. Lastly suitable life cycle stages of the
production services are described and complete the reflective statement that depict the creative
development team working and suitable presentation.
TASK 1
P1. Product development process and the level of customer integration
Product development picked as the prominent changes in features and characteristics of the
existing product and its manufacturing considering the trends in the market and choices of
customers. With the help of prominent production services organisations provide effective value
to their potential customers. Guess prominently offer a variety of products including watches
glass clothing and many more in terms of becoming the leader of market and accomplished
competitive advantage and headquarter in California United States. The manager of company
prominently identified the product life cycle stage by analysing which product comes under
which stage and undertake upcoming decision to complete suitable objectives.
Besides this product life cycle stage is considered as the watches which are made with
leather and declined this state considering the suitable population by becoming more conscious
in terms of protecting animals as due to this, they do not prefer to those goods which are made
from leather. In regard of this the managers also take choices for innovation in which they make
permanent changes considering the leather watches and offer them as the hand beaded watch
(Bharwani and Mathews, 2016). The watch also developed considering the threads instead of
leather and undertake various materials which are eco-friendly and also design suitable pitch for
the prominent factors considering the market opportunity marketing strategy synopsis of
competition and many more. Considering the present time to deal with the situation which are

concerned with declining the sales volume and demand then the managers need to follow the
procedure of new product development in terms of making significant improvement in the
existing product that lies under the declining stage. The suitable process undertakes various
stages which are mentioned as underneath:
 Idea generation: It is undertaken as the prominent process to develop product
considering the generation of ideas. For this organisation’s conduct planning to develop
something innovative which relies and other prominent ideas and also generate by
identifying deviations within the market considering several methods. The Other
prominent sources come from the generation of Ideas considering market research
reviews internal sources identify opportunities and weaknesses industrial competition and
many more (Charter and Tischner, 2017). Besides this all the sources prominently of a
wide variety of ideas.
 Idea screening: It depicts the generator idea which is screened by prominent evaluation.
In this manager filter all the ideas in terms of selecting prominent options which is useful
to achieve goals. Considering the group members and their discussion regarding the pros
and cons of Idea then depict the best idea that undertake suitable can abilities to generate
revenues and satisfy customers.
 Concept development and testing: This stage come after screening of Idea and it is
helpful in accomplishing success which is essential to develop concept and also test it for

the prominent identification which is understandable acceptable and effective in terms of
meeting the needs of customers (Goodway, Ozmun and Gallahue, 2019). For this the
customer segment is identified for the suitable information and also relate to the new
idea. Besides this information is collected regarding the perspective of customers and
also helpful in searching whether customers like the idea or not.
 Marketing strategy development: It is the stage that plays an important role considering
the development of prominent ideas and also identify a detailed analysis of business in
terms of making sure that new idea it is best for the organizational strategic plans by
identifying cost and margins of demand and revenue (Tukker and Tischner, 2017). It also
undertakes suitable definition of target market planning of product profit objectives and
many more. It will also help in identifying the new ideas that will suitable profitable for
the unfavorable situation considering the business viewpoint.
 Product development: In this company make suitable identification to develop and
launch Idea within the market. They also topic the need of the process which is followed
for effective manufacturing considering the distribution of Idea. The process is
undertaken as the critical for the business in terms of converting their idea into the
physical form. Effective production or function for the company depict the manufacturing
of suitable Idea and co-ordinate with other functional units with the objective of
increasing revenues and profitability in the market.
 Test marketing: In this developed product is launched in market at the small level and
also considered as the developed product which is successful in the small market for the
prominent activities that are performed in terms of launching at the large level. Besides
this failure of developed product in the marketing test is helpful in finding prominent
reasons of the failure of product (Beuren, Ferreira and Miguel, 2013). With the help of it
it is also important to make suitable changes for the new product and also launched it
again as it needs to eliminate risk in the path of large-scale marketing.
 Commercialization: It depicts the suitable development of product considering the large-
scale to attain prominent result from test marketing. Undertaking the large investment
what is made by company then the developed product it is done by the production at large
scale to distribute at the large level. Besides this advertisement of the developed product
are done via magazines newspaper and TV.

P2. Processes in application to the development of a specific organisational product
Conducting the product life cycle stages, it is identified that the watches of guess are are
made from leather which are moving towards the declining stage and for this suitable process is
applied to develop its hand beaded watch which are mentioned as below:
 Idea generation: In this the managers of Guess leads to generate Idea by brainstorming
method and considering various ideas that are collected with the help of market research
develop current product (Kindström, 2010). The management tends to identify the overall
situation with their employees and also provide them suitable ideas which is beneficial to
deal with prominent situation. Besides this they came with the idea which is concerned
with digital watch and hand beaded watch.
 Idea screening: In this the manager of Guess prominently screen the generated Idea by
identifying it with the help of dealing with suitable problem by accomplishing outcomes.
The organizational prominently undertake the feasible study for the ideas regarding the
hand beaded watch and digital watch. Besides this company also identified that there are
several Technologies that are helpful in terms of converting leather hand beaded watches
into digital watches but it needs huge investment to fulfil the demand.
 Concept development and testing: As per this stage managers of Guess prominently
develop effective ideas and conduct suitable screening of the managers who made the
decision to develop leather hand beaded watch into the normal watches (Stark, 2015). It
also prominently selects small group of individuals by offering additional information
which is concerned with the watch. Besides this they also identify the reaction of
individuals for the new watch.
 Marketing strategy development: In this the managers of Guess prominently develop
suitable strategies for the product of market. For this email marketing is considered to
promote and spread Awareness to their product regarding the hand beaded watch with the
help of emails that include suitable details regarding the features and price details.
 Product development: In this the manager of Guess make effective determination for the
development of hand beaded watch considering the market. Besides this the significant
practices are implemented with the objective of developing it together and distributing
the watch (Sigala, 2012). It also provides the suitable coordination and integration for the
activities considering the department and also introduce it in their target market.

 Test marketing: The managers of Guess make suitable attempt to launch the hand beaded
watch at the small market of the California. In this respect prominent results which are
accomplished by company in the time of launching their product at the large level in
United States. For this also eliminate the risk factor which is related to the large level
marketing.
 Commercialization: Undertaking the prominent success of test marketing managers of
gas consider Hand beaded watch in the US and nearby Nations. along with this they also
develop the watches at the large level by advertising it through various promotional
methods including magazines billboards posters radio and so on.
TASK 2
P3. Assess the life-cycle stage of the products or services in a company’s portfolio
Product life cycle give the prominent detail regarding the demand of customers over a
significant period of time. Because of the regular changes occur in the current Technology life
cycle and trends and products from effective launch the effect of the demand which is already
exist. At the starting stage every product experience suitable growth but with time people start
losing interest in the same commodity and attracted towards something else (Wasson, 2015).
Each and every product need to go through various stages which is not possible to retain
customers for the current product. When the product reaches at the specific level it goes on the
declining stage and cannot be neglected. For this, the project life cycle of new products of Guess
are mentioned below:

 Introduction: In this product is prominently launched in the market and only few
customers are known about the available options and regarding the trial of product.
Besides this suitable stock is available for the various outlets and does not impact the
shortage of product on the organization (Yu and Sangiorgi, 2018). Moreover, the focus is
on increasing then income group considering the price level to keep it hike in terms of
seeking attention for the specific deviation of society. In relation with Guess all the
prominent products and services are offered that are attractive including clothes and
watches which are the prominent product that are offered by focusing on promoting to
spread awareness in the market.
 Growth: In this the promotion strategies are enhanced for the market segment and
permanently and hence the use of quality techniques which is helpful in influencing their
customers in terms of purchasing new product (Haeberle and et. al., 2016). Considering
the stage for the sales in terms of increasing suitable Returns which are received for the
prominent investment. In relation with Guess the products undertake suitable watches and
perfumes in this state that are helpful in achieving increase sales and demand with huge
competitors.
 Maturity: In this the brand become stable with more options that are present in the
market. Suitable prices are required to be fixed as per the other options which are present
in the market full stop it is because of the reason in terms of remaining cos theta in the
market it is required to fixed with the capacity of giving prominent competition wind
industry. At this stage the products of Guess undertake bags watches jewelry in terms of
having maturity and the prices of these offerings does not change that helps in making
effective revenues.
 Decline: It is the last stage in which complete each towards the declining of sales and
face loss. It happens because of the reason that company need more advanced product
within the market in terms of giving tough competition to other brand and also helps in
capturing the other market area (Mendes and et. al., 2017). It is possible because of
prominent development and innovation in existing product and promote it through
advertisement to increase sales and revenues. In relation with Guess what is are

considered as the suitable product for the declining stage in this customer’s find less
attractive towards the watches and does not purchase it.
P4. Product line management choices required for individual products or services
Considering the present scenario of company, it is identified that watches are the
prominent product which is offered by company and required suitable choices. For this the
managers of an organisation have prominent choice considering the innovation that helps in
making suitable changes for the current product. It also depicts the choice for renovation in terms
of performing prominent activities that helps in making product a completely new commodity
(Sun and et. al., 2017). It is identified that the sales of individual watch which is the leather
analogue watch start declining because of the lack of innovation. It is also seen as the population
which are less preparing towards the product and also manufactured by the skin of animals.
It is another reason for the declining of sales and demands and to deal with the situation
the managers of companies required to go through with the prominent innovation within their
decision to develop and he introduced the product for the suitable sales and demand of company.
For this the managers of guests are taking decisions in terms of effective innovation for suitable
product by which they opt organic Threads instead of leather and name it as the hand beaded
watch. The innovative product undertakes suitable calendar timer and other important products
that helps in attracting white customer base and the innovation is also seen as the environment
friendly more fashionable and luxury product of company.
TASK 3
P5. Design and pitch a product or service taking in to account market testing, product/service
launch and distribution
By considering the discussion it is identified that the products of case at the declining stage
by which company face loss will in the market and their customer base. In terms of overcoming
the situation the managers of company make prominent choices considering the innovation for
the specific product which is helpful in accomplishing success at the prominent rate. In terms of
improvised product which is the hand beaded watch tends to offer triple undertaking the timer
calendar and other important services and few elements are mentioned as underneath:
 Market opportunity for proposed product: The population of US prominently focus on
making decision for the specific product which is more eco-friendly and also luxurious at

the same time. In relation with hand beaded watch it is low priced and luxurious that
prominently offer suitable market opportunities in terms of having attraction due to
enhanced preferences for the product and the value of money.
 Marketing strategy: It depicts the prominent approach to achieve competitive advantage
within the market. In terms of hand beaded watch, the managers of Guess please to opt
penetration pricing by which they can offer their watch at the lower prices in terms of
reaching to the wide market (West and Di Nardo, 2016). In the managers of respective
company also use relationship marketing including social media and email to generate
awareness regarding the product and managers also opt expensive marketing in terms of
spending distribution techniques for the product.
 Synopsis of competition and industry: It is identified that the Retail Industry is quite
competitive in United States and for this there are Less organisations that offer watches
which are produced with thread and other organic material. Some of the competitors of
Guess undertake Wet Seal, Venus company, Talbots and so on. Considering the
renovated product what is hand beaded watch it is identified that it faces moderate
competition within the industry by giving tough competition and gaining opportunity in
market. Financial overview:
 Investment required: The manager of company need suitable proportion of capital as the
investment. In the early times it was investing to achieve leather in terms of making
watches but now they can use the investment to gain threads and other organic materials

for their innovative hand beaded watches. Besides this company can also invest around
$24000 million.
TASK 4
P6. Reflective statement that critically reflects on team working, creative development
Undertaking the process of development of presentation there are various activities are
performed by each member and group is also involved for making contribution to complete the
presentation in prominent way full stop the preparation of presentation have my contribution to
identify the life cycle stages of the project considering the innovation within the Guess company.
Besides this the prominent stages and identified with suitable strategies in terms of introducing it
in the market in an effective manner. Besides this the presentation to other and presented at the
PLC stages and of a prominent information which are provided by me and also made suitable
presentation in terms of understanding the concept. Every member also offers the task in which
they are interested and effectively perform.
Moreover, the team members also work hard and give their first presentation to their team
members in terms of convincing them to deal with prominent structure of the report which is
helpful in developing in the presentation form. Defective development is made by assigning the
leader for the team and work can be delegated. For distributors are also helpful in terms of
guiding every team member considering the project and objective of the project. Moreover, to
deliver the presentation practice it is important that all the audience are communicated in an
effective manner. Along with this final decision prominently need approval of team members by
offering chance of conflict and also try to eliminate it.
All the team members are significantly involved for the International informal manner
considering the discussion of work. Besides this prominent group discussion is conduct among
the members by offering opinion for the evaluation of suggestion that is helpful in launching the
creativity within the teamwork. Teamwork was performed by the team members collectively and
also guided in an effective manner to perform their path and generate best results. It also depicts
the prominent quality of presentation which is required for suitable improvement in an effective
way. Moreover, in terms of improving the issue for the group discussion is made in suitable style
of writing is selected in terms of making enhancement in the development of presentation.

CONCLUSION
The above report inferred that it is significant for an endeavor to build up its items so they
can meet prerequisites on schedule and addition recipient results. Improvement of item or
administration is done in two different ways. First is change in quite a while and second is
making an item that is totally new. To build up an individual item, business concerns follows
different cycles that are engaged with new item improvement so agreeable functions are
performed. The stages in the product development stages of generation of ideas from various
sources, screening all ideas, concept development, devising marketing strategies, developing
product, testing it in markets and commercialisation. There are different exercises which are
acted in group and imagination is created among colleagues.

REFERENCES
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