Product Development Report: Analysis of a Recycled Plastic T-Shirt

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Added on  2023/06/09

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This report outlines the product and service development process for a recycled plastic T-shirt, emphasizing its potential to reduce environmental impact and generate profit from waste. The report covers key stages, including idea generation, where the concept of using recycled plastic to create T-shirts was conceived to address plastic pollution. Idea screening involved brainstorming to consider stakeholder perspectives, customer problem-solving by offering an eco-friendly alternative, and assessing market saturation. Creative methods like social listening and the 'WHY' technique were employed to validate the product's relevance and benefits. Concept testing methods, such as monadic and survey testing, were used to gather consumer feedback on the product's features and benefits. Business analysis focused on the product, price, promotion, and placement mixes, highlighting the importance of a strong supply chain and effective marketing strategies. The report also includes a reflection on the group work involved in the project, noting the challenges faced and the collaborative efforts made to achieve the product development goals. Desklib provides a platform for students to access similar solved assignments and past papers for academic support.
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Unit 22Product and
Service Development
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TABLE OF CONTENT
INTRODUCTION
MAIN BODY
Idea generation:
Idea screening:
Creative methods:
Concept testing:
Business analysis:
Reflection on group work:
Choosing one product line management choice:
CONCLUSION
REFERENCES
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IDEA GENERATION
Plastic is one of the most common term in the world, this material is way
too harmful for environment as well as human life.
Plastic have certain use in daily life, but mostly it impacts negatively.
This product idea is based on reducing plastic impact on the environment,
introducing Recycled Plastic T-shirt made from waste plastic.
Clothing sector is demanding innovation in the market, plastic T-shirt will
allow customer to save nature and will help company to generate profit
from waste.
Every innovative idea come from critical thinking, this idea is generated
from critical thinking in which plastic reduction was main motive.
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IDEA SCREENING
Brainstorm idea: Brainstorming is process in idea screening in
which perceptive of stakeholder are considered, company try to
focus on customer behaviour and market condition and
brainstorm their idea to make it effective.
Customer problem: Innovative product should solve half of the
problem faced by customer in the market, T-shirt made from
recycled plastic will solve problem of whole world.
Market saturation: Market saturation is one of the most
important element in which company need to examine market
and need to understand whether the product will survive or not.
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CREATIVE METHODS
Social listening: Social listening is important process in which
firm need to examine society and the problem faced by them, it is
very clear that social listening is important when developing new
creative idea.
The WHY technique: This is another important element in which
company need to answer why product is beneficial and to whom,
it is very clear that reusing plastic is main motive why company
need to introduce recycled plastic T-shirt.
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CONCEPT TESTING
Concept testing is one of the most important element in which
company try to test the concept of new product in the market,
they consider some of the important point and may often use a
method of concept testing, there are certain methods which will
allow company to test the concept of recycled plastic T-shirt in
the market, these are:
Monadic testing: Monadic testing means firm will compare one
product with another, that means company need to compare
recycled plastic T-shirt with normal T-shirt allowing customer to
understand the benefit.
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CONTINUE…
Survey testing: This is one of the most common in which firm try to
perform survey allowing them to consider viewpoint of customer
who consumed the product.
In survey testing, consumer were asked to answer the questionnaire
containing the benefit and important element of the product.
It is very clear that survey testing is more beneficial than any other
because here viewpoint of customer are considered.
Company need to consider viewpoint of customer who will be
consuming recycled plastic T-shirt.
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BUSINESS ANALYSIS
Business analysis simply means market analysis, company need
to analyse the market and drive their marketing according to new
product.
Product mix: finalizing product design before concept testing,
company need to focus on final outlook of the product. Recycled
plastic T-shirt need final outlook, if there is any change, company
need to bring it before lunching it.
Price mix: Pricing does matter in every product but if it is an
innovative product then pricing need to be carefully focused
because consumer might hesitate to pay for such price
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CONTINUE…
Promotion mix: Innovative product have higher chanced of
wining if promotion is made correctly, company need to focus on
marketing campaign, social media marketing will be best for
recycled plastic T-shirt.
Placement mix: This simply means firm need to have powerful
supply chain which allow them to distribute their product across
the nation and even worldwide.
Recycled plastic T-shirt need to be demand of supply chain
allowing them to be reachable.
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REFLECTION ON GROUP WORK
It is very clear that new product development is one of the most
challenging task, me and my team faced certain issue regarding
new product development process.
I have been working closely with this idea, my team helped me
with certain research and careful examination of the market.
Idea generation was done by me, my team-mate helped me with
their skills and ability, I have been focusing on creation of
process hence by team was focusing on other part.
Together we have achieved the required criteria for the product
development and complete this group work effectively with
satisfactory environment.
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REFERENCES
Books and journals
Cooper, R.G., 2019. The drivers of success in new-product
development. Industrial Marketing Management, 76, pp.36-47.
Galli, B.J. and Lopez, P.A.H., 2018. Risks management in agile
new product development project environments: A review of
literature. International Journal of Risk and Contingency
Management (IJRCM), 7(4), pp.37-67.
Iqbal, M. and Suzianti, A., 2021. New product development
process design for small and medium enterprises: A systematic
literature review from the perspective of open innovation. Journal
of Open Innovation: Technology, Market, and Complexity, 7(2),
p.153.
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