This report provides a comprehensive analysis of product and service development, using Boots UK as a case study. It begins by outlining the key processes involved in new product development, including idea generation, screening, development, testing, marketing strategy, business analysis, and commercialization, with a specific focus on the development of herbal beauty products. The report then applies these processes to the development of a new herbal beauty product for teenagers, detailing each stage from idea generation to commercialization. It further explores the product life cycle stages (introduction, growth, maturity, and decline) and evaluates the product line management choices required. The report also discusses the importance of marketing strategies, risk management, and the use of digital technology in product development. Finally, the report touches on the importance of team working, creative development, and presentation skills. It also provides a summary of key considerations for product line management and the importance of understanding consumer behavior and market trends.
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