Tommy Hilfiger: Strategies for New Product Development and Launch

This assignment analyzes Tommy Hilfiger's new product development strategy, focusing on the launch of a woollen sweatshirt for men and women. The project covers key stages such as market testing, product and service launch, and distribution. Market testing involves assessing product effectiveness and gathering customer feedback to refine the product. The product launch phase involves a strategic marketing plan to introduce the product to the market. Finally, the distribution strategy involves selecting appropriate channels, such as selective distribution, to reach the target consumers. The assignment references academic sources to support the analysis of these marketing processes. The project emphasizes the importance of these stages in achieving profitability and building a strong brand image for Tommy Hilfiger.

Product Servive
Development

P5 Construct and pitch a new product along with consideration of
market testing, product and service launch and distributions
Tommy Hilfigure is an America fashion designer which is best known for
founding the lifestyle brand Tommy Hilfiger corporation in 1985.It deals
with various products such as clothing, perfumes, sport shoes etc. The
major objective of the Tommy Hilfigure is to produce the high quality of
product and services and attract large numbers of customers. It desires to
gain maximum profitability and market share. For attain this objective,
company is going to launch Woollen Sweatshirt for men and women. This
new product development idea have major aim is to earn maximum
profitability and develop impressive brand image in the market.

Conti..
While company focus on the new product
development then it has to focus on the
several stages which are as follows-
• Market Testing
• Product and service Lunch
• Product distribution

Market Testing
• This is one of the very significant aspect in the new product development
under which product and service is tested by the company in the market for
analyse its effectiveness and features.
• With help of this consideration, researcher can able to know the
effectiveness of the product and its associated weakness. In this process,
with help of customer reviews and feedbacks, company can acknowledge
that how customer likes its new product in the market and what are several
further requirement of them regarding new product and services.
• In a simple word it can be said that it is an examination the effectiveness of
sample product in the market.

Conti..
• In the context of Tommy Hilfiger company, Test marketing helps to
business unit in acknowledging the future sales and profitability
associated with new Woollen sweatshirt for male and female.
• This method is most reliable method for sales forecasting wherein the
product is launched in a selected area and cities. On the basis of the
customer responds regarding new product, company can take the
decision regarding mass marketing and commercialisation.
• Tommy Hilfigure company can also beneficial by this method because
they can look at the pros and cons of the product at the early stage and
make decisions regarding the commercialisation of new Woollen
sweatshirt of male and female.

Product and service Lunch
• This is the final stage of the new product development under
which company finally going to introduce the new product in
the market and attract the customers toward the brand. It is a
kind of marketing strategy that is consisted with systematic
planning, schedule sequence of events etc.

Product distribution
• Distribution is another one of the very significant
method in the new product development under
which product and service is finally distributes in
the market. It is one of the four elements of the
marketing mix such as product, price, promotion.
There are various kinds of distribution such as
mass distribution, selective distribution, exclusive
distribution etc. The Tommy Hilfigure will select
the selective distribution under which
manufacturer can select some number of outlets
for selling and handling the product and services.

REFERENCES
• Bahadir, S. C., Bharadwaj, S. G. and Srivastava, R. K., 2015. Marketing
mix and brand sales in global markets: Examining the contingent role of
country-market characteristics. Journal of International Business Studies.
46(5). pp.596-619.
• Homburg, C., Jozić, D. and Kuehnl, C., 2015. Customer experience
management: toward implementing an evolving marketing concept.
Journal of the Academy of Marketing Science. pp.1-25.
• Jaramillo, F. and Spector, P.E., 2015. Sunk Cost Effect, Escalation of
Commitment and the Principle of Fungibility: Consumers’ Reactions to
Membership Cards. In Creating and Delivering Value in Marketing.
Springer International Publishing.