Product and Service Development Report: Jaguar Electric Car

This report provides a detailed analysis of the product and service development plan for Jaguar's electric car. It begins with an introduction to the importance of product development and an overview of Jaguar as a company. The report then proposes the new electric car, outlining its features and services, including limited maintenance, extended battery coverage, and enhanced handling. It explores market opportunities, marketing strategies (direct, digital, personal selling, and sales promotion), and the competitive landscape of the automotive industry. A financial overview, including required capital and investment breakdown, is presented. The report covers the idea generation process, screening, concept development, and testing phases. It further examines marketing strategies, business analysis, product development stages, and commercialization plans. The report concludes by emphasizing the importance of these stages for a successful product launch.

Product and Service
Development
Part A

Introduction
• Products and services are considered as a most important part of an organisation. A
company is able to earn profits by selling it's goods and services in market area. It
is essential to develop products as per requirement of customer and market area.
• Products and services should be able to satisfy needs and want of consumer in
order to enhance sales and profitability of a company. For this presentation chosen
company is Jaguar.

Overview of the company
• Jaguar is a well known brand and it is producing high quality car products. This
company is a British multinational organisation which is providing its products
and services all around the world.
• It was established in 1933 and founder of this organisation was Williams Lyons.
Jaguar headquarter is located in Whitley Lyons and it is providing its services to
different parts of the world.

New or improved products or services proposed
• Jaguar has manufactured wide variety of cars and now is planning to
manufacture addition to launch an electric car.
• The company will propose the electric car with services related to limited
scheduled maintenance, additional battery capacities covering 8 years addition to
80000 miles and dynamic handling addition to low gravity centres.

Market opportunities
• Market opportunities refers to identifying needs and wants of customers as well
as developing products as per market requirements.
• It includes demands or trends that firm can exploits and enhance productivity or
profitability of organisation. Marketing opportunities can be those chances which
are not identified by competitive companies and it will directly lead to increase
sales.

Marketing strategies proposed
• Marketing strategies are characterised to business plan of action that are specially configured for
promoting new product addition to services in order to make huge revenues.
• Effective marketing strategy is generally drawn through extensive market research addition to
helps in focusing towards right product mix so to attain potential profits together with sustaining
the business.
• Jaguar managers in order to promote the new electric car have adopted marketing strategies of
Direct marketing, Digital marketing, personal selling and sales promotion strategies.

Synopsis of competition
• Automotive industry posses diverse quantity of companies involved in activities
related to designing, development, improvements, promotion together with
selling motor transports.
• The industry contributes greatly on the developments of an economy.
Automotive repair shops together with filling stations are not part of such
industry.

Financial overview
• Jaguar possesses all the necessary financial resources to launch the new product
into the market place.
• By optimally utilizing the funds possessed by company, Jaguar can ensure that
sufficient funds are invested in the process of new product development so that it
can effectively meet the needs and demands of customers in market place.

Capital/Investment required
• For the development of
new electric car of
Jaguar, the company
would require a total
investment of around
$10,000.
Particulars Cost ($)
Batteries 2500
Motor 2200
Controller 2500
Adapter plate 1800
Others such as switches, wiring etc. 1300

Ideas generation
• The idea generation for the new product, i.e., electric car owes to the conduction
of market research done by the researchers of the entity.
• Market research done by the entity helped in identification of potential market
available for electric cars as people in today’s modern world have become
massively aware about the environmental and social concerns.

Ideas screening/selection
• Jaguar is a well renowned and established corporation having positive brand
image in market place for launching new products at rapid intervals to stay ahead
of its competitors.
• As the entity has sufficient technological, human, financial and physical
resources, the management underwent a discussion over all the possible
alternatives for new product development process.

Concept Development and Testing
• This is a two-phase stage involved in new product development whereby
potential buyers are shown the idea of the new product first and later
acquainted with the product itself in prototype form.
• Jaguar has also considered to get engaged in this process in order to gain
knowledge of the reaction of people towards the all new electric car
launched by entity into market place.

Marketing Strategy
• Marketing is regarded as one of the most important strategies that are taken into
account by a corporation while launching a new product at marketplace to gain
the attention of public.
• Jaguar is coming up with electric car for which it needs to get engaged in
massive promotional activities so that people get aware of the new product and
make a purchase for it.

Business analysis
• Whenever a new product is being launched into market place, a business
organisation has to undergo business analysis in order to identify the probable
opportunities and threats.
• In this regard, Jaguar would also conduct an internal as well as external analysis
which would aid the respective corporation in gaining knowledge of threats and
opportunities linked to electric car.

Product development
• This is the stage which marks the actual development of new product proposed
by the corporation in front of the Board.
• In this regard, Jaguar would develop electric car with new and innovative
features at this stage only.
• The new car would have stylish and innovative characteristics that would assist
the entity in gaining the attention of large number of people easily.

Testing
• This stage is involved in the measurement of properties or performance of the new
product launched in market place.
• In this regard, Jaguar would ensure that the customers perceive the characteristics
of the new car and know its value.
• Further, the firm ensures that all the commitments made it during the product
marketing are fulfilled by them during this stage and afterwards.

Commercialization
• This is the stage whereby the new product or service is actually launched into the
market place so as to know if the customers like or dislike it.
• Jaguar would launch the electric car with innovative and high tech features in
this stage and undertake all possible measures to ensure its success among people
prevailing in market place.