Project Report: Samsung's Product and Service Development Strategies

This report, prepared as part of a product and service development unit, delves into Samsung's new product development (NPD) processes. It begins with an overview of Samsung, a South Korean multinational corporation, and then explores its product portfolio, focusing on the product life cycle model and its application to Samsung's products, including televisions, mobile phones, and the Samsung Galaxy. The report analyzes the introduction, growth, maturity, and decline stages of the product life cycle, using Samsung's products as examples. A significant portion is dedicated to the Samsung J7, examining its decline and proposing an innovative solution to regain market share. The report further discusses the NPD process, including idea generation, screening, concept development, and testing, and emphasizes the importance of market research. Financial aspects of new product development are also considered, followed by recommendations and a reflection on the overall process. The report concludes with references to support the analysis.

PROJECT ON PRODUCT AND
SERVICE DEVELOPMENT
UNIT 22

Product&Service Development
Submission Front Sheet
Programme
Unit Title and Number: Product & Service
Development (Unit
22)
Unit RQF level/Code 5/
(J/508/0534)
Credit Value 15 Project Brief Code
Cohort Name Project Date Set
Student’s Name Student’s
Registration
Number
Submission Date Distribution Date
Is this a first submission Is this a referral
submission
Word Count
Learner’s
statement of
authenticity
I certify that the work
submitted for this
project is my own.
Where the work of
others has been used
to support my work
then credit has been
acknowledged. I have
identified and
acknowledged all
sources used in this
project and have
referenced according
to the Harvard
referencing system. I
have read and

Product&Service Development
understood the
Plagiarism and
Collusion section
provided with the
project brief and
understood the
consequences of
plagiarising.
Student’s Signature Date
Table of contents
Introduction……………………………………………………………………………………
Overview of the company…………………………………………………………………….
New product development……………………………………………………………………
NPD for J7…………………………………………………………………………………….
Market Research in context to NPD for J7……………………………………………………..
Financial overview of the new product development…………………………………………
Recommendations……………………………………………………………………………..
Reflection……………………………………………………………………………………..
Conclusion……………………………………………………………………………………
References…………………………………………………………………………………….

Product&Service Development
INTRODUCTION
As a junior product manager of Samsung the report has been created to details on about the
processes which are involved by the organization in the development of new product or service
came up by them. Along with these numerous stages are also involved with the application of
which company can make developments in their new product and services.
New product development and services is one of the most important part which contributes
towards growth and success of an organization in more effective manner. In this process an
organization is willing to come up with new product or services with the aim of achieving
competitive edge in the market. Also main objective is to earn profit and generated revenue for
an organization. Due to this customer is been attracted towards organization which creates value
through making constant changes within product and services. Due to this an organization has
been working towards welfare of society for such purpose only needs and trends emerging within
society are required to be followed. Scope of developing new product is wider since it can
impact organizations capacity to expand itself within particular market. The organization that has
been taken within the file is Samsung which is a South Korean multinational organization having
its headquarters in Samsung town, Seoul. It was founded in the year 1938. Things to be covered
in this file is based upon process involved within development of organization through its new
product and services which is been launched by them. Also stages of improvement of new
product are to be discussed. In the end critical examination is done over it.
OVERVIEW ABOUT SAMSUNG
The Samsung Group this is a South Korean multinational corporation which has its
headquarters in Samsung Town, Seoul. Under it various kinds of businesses is been associated
and is bee unite within one name. Samsung has been formed in the year 1983 by Lee Byung-
chul. The organization has seen diversification within the area which includes food processing,
textile, securities, and retail. Samsung has started dealing within electronics in late 1960’s which
gave it high growth opportunity attained. Later on after the deadth of the owner Samsung was
separated into five business group they are Samsung Group, Shinsegae Group, CJ Group and
Hansol Group, and Joongang Group. Since 1990, Samsung has increasingly globalised its
activities and electronics; in particular, its mobile phones and semiconductors have become its
most important source of income (Dinçer and Yüksel, 2018).

Product&Service Development
PRODUCT PORTFOLIO
Samsung has made its brand portfolio increase form time to time and has showed
enormous growth in the field of smart phone era which made it got global reorganization. The
company has wide range of products category which is air conditioners, LCD TV and TV. Also
contains smart watches and mobiles which have been sold within market by Samsung.
PRODUCT LIFE CYCLE MODEL AND APPLICATION ON SAMSUNG PRODUCTS
Samsung has made its product to be categorized within various stage which is related to
life cycle cycle wherein the organization and the management is able to identify the position of
the product in the market.
1. Introduction stage: In this stage new product is been launched by Samsung in the
market and for the purpose more branding, research, promotion and development is done
that makes best product to be formed. Also at the stage an organization faces the problem
of low sales within market because of new product launched by an organization within
the market. In this further both positive and negative impact can be seen after new
product launched by an organization.
INTRODUCTION STAGE IN Samsung TV
Samsung launched its first television in the year 1969 and has been selling it till now.
Television of Samsung is considered as one of best TV’s in India. This popularity of the TV
enhanced more when LCD TV was launched within the market by organization. Further
observing that customers has been shifting towards new organization in relation to television
selling. All this made Samsung re-establish its Telivison by launching LED TV which helps in
attaining maturity within market. Further it lead over increasing of cost in relation to marketing
promotion of market while building of reputation again.
2. Growth stage: Under the stage profit of the organization started growing and customer is
been made are about product and services. The organization has been enjoying over
making benefit that is been attained by profit while increasing economic sales also. The
stage makes competition of organization released which increases price product for
modifying by organization.

Product&Service Development
GROWTH STAGE IN mobile and smart phones
Samsung mobiles are the brand within which that organization sells mobiles of all kind.
In this basic mobile phones and smart phones is been sold within market. Under it various
products is been launched by Samsung which made it more popular all over the world (Jaakkola,
and Hallin, 2018). The brand comes within the years 2004 after which various products has been
acquired so that company is able to attain competitive edge and stay ahead of its competitors.
Under it market and revenue has been growing at faster rate. Also it has been observed that
revenue of Samsung has increased after it started production of mobile. After launching smart
phones it was able to make more growth within the market and this made it sales increased. At
point of time it faced lot of trouble since its one model J7 was not up to mark. It made its product
quality reduced and sales decreased. The people started shifting to other brands which increase
expenses in relation to promotion and planning need to be done by the organization. It has made
organization attain sustainability within market by stabilizing its sales which made revenue and
profit generation possible in steady manner.
3. Maturity stage: This can be termed as the stage where the brand has made it
establishment in the market by making the consumer aware about the product and
services and now the focus of the organization is on increasing their share in the market.
In this management of Samsung should have made improvement within its new products
and service with the purpose to attain competitive advantage in near future. At this point,
the market also starts saturating as well as the competition in the market also increases.
MATURITY STAGE IN Samsung Galaxy
Samsung Galaxy is one of the most important part of Samsung organization and has also
attained popularity within various segments of market including rich and middle class. This was
developed by Samsung in the year 2014 and has been major profit generator for organization like
Samsung. In his various mobiles has been launched which are touch and android based which
made customer attraction possible as customer satisfaction s created. It made Samsung attain
maturity at both global and international market at faster pace. This is one of the most unique

Product&Service Development
brands which sells mobile with unique design also for attracting new customers (Kuo,, Chiu,,
Hsu and Tseng, 2019).
For making dominance to be created within the market different strategies has been
formed due to which organization gains stability by making space for new variants launched
through making popularity achieved with in market and helped in staying ahead of its
competitors. Apart from this Samsung galaxy leads towards causing 8.1 billion dollar profit to
Samsung from all over the world. In this stage Samsung galaxy is been facing tough competition
that made changes within market strategy took place. Also one of the main advantages of this
brand is that it made both survival and growth of organization possible due to range of mobiles
launched under the brand name. This made sales volume increase but at same time made profit
through reducing organizations cost over resources.
4. Decline stage: In this stage of product life cycle ends. As per it the products and services
which are of no used to an organization or to customers requires to make sure that these
product and services is not been sold by the organization again. In this organization
realizes position and makes sure that new creative and alternative method through
making organization attain sustainability in long run.
DECLINE STAGE IN Samsung J7
Samsung J7 was been launched by Samsung and comes in category of smart phones
which can be used for future purpose also. The main target of the product was only middle cast
people within the market. That is why it is been introduced as technological development
product. The brand has been originated within South Korea and has become one of the most
popular brand within Asian continent. The mobile phone has out bound its competitors which
were popular within the market. Further it has been observed that declining stage was been
achieved by J7 due its heating problem which made its competitors attain their position in market
again. This made its profit generating capacity reduced and sales decline of the product within
market. That is why management should be working over making analysis within market attain
its position back with reputation.

Product&Service Development
INNOVATION IN MILO
A new innovative idea could help J 7 to gain back its position in market and attain value
for its shares accordingly. The organization can come up with an innovation in the product
wherein they used high power processor and coolant which reduces the heating within mobile.
Also technological advancement is going to make the product attain more popularity. Also the
mobile phone should be promoted in more effective manner by increasing its value in market
(Li,, Wang, Chen and Zheng, 2020).
NEW PRODUCT DEVELOPMENT
This is the process by which an organization makes analysis upon critical aspects in
relation to business environment possible in order to make sure that new product and services is
been developed within the market in more impactful manner. Through the process management
within Samsung is been managed through making it work for long time period and growth within
market possible in order to make new product services enter within market. This makes customer
aware over this. The NDP means process that involves stages of product life cycle that makes
future development possible of product within market and makes customer attain awareness
about it. Under the process various kind of product life cycle stages is been covered which leads
upon development of new services or product possible upon alteration within it. Different phases
involved within have been explained as follows:
Idea: Under it two stages is been covered which is idea generation and screening of idea.
This stage new idea has been generating and screening is done for it. In these ideas is generated
from Samsung employee and market research. So, the best idea which has been marked out is
been suggested by “Idea Committee”. This committee suggested the ideas upon which product
like J7 can be developed. Reason for selecting this idea is based upon the changes which can be
brought in relation to product development or revival. If any competitors is creating problem
then idea competition can be reduce. The Committee has selected J 7 model to be enhanced with
better coolants and provide it faster processor. Also to enhance customers experience better
gaming facilities is been provided for it. Now the research is been conducted over product
development which is been conducted by research department.

Product&Service Development
Research: The concept includes testing and market analysis which helps in testing of
phases and makes management within an organization concentrate over analysis related to
management of organization which is based upon analysing of business and marketing possible.
Through this potential idea is been selected which makes identification in relation over different
features through helping an organization through success and growth. Then research team should
make selection of 100 people which makes testing of new J7 with extraordinary features or
upgraded features. The segment of market which is been targeted is youngster and senior citizens
which makes product development expansion possible in market. The concept makes testing
which returns promising results attained in relation to J7 which makes similar products give
competition. In team will start the Market Analysis which makes financial analysis through
projection over main competition within market (SONGKHLA and et. al.2021).
Product development: This makes financial development over product which takes
place upon idea that has been selected. Under it market has been gathering over ideas
considering place over finally making an organization leading toward development of new
product. In this stage all department makes finding and analysis result upon single department
through working making development of J 7 possible as per modern market trends in market.
Commercialization: In this testing marketing has been developed in the J 7 should be
tested. Under it management makes working in Samsung to be analysed in it necessary changes
which makes product that is available within market. New J 7 makes product being tested by an
organization. Under it market scenario helps in making sample group been selected which makes
trends developed which makes J 7 attain popularity market. Under it testing over helping through
final changes by making product and time launched in market. The phase decision develops
strategically new aspects for launching product within market. Phases and decision develop new
aspects kept in mind over proper marketing product and pricing.
NPD FOR J 7
In this process involvement of development which makes new products through focusing
upon effective development by making J 7 more effective and technologically advanced
possible. Following the process makes involvement through management of working in making J
7 more developed in new product development within market (Tsou, Chen and Wang., 2019).

Product&Service Development
Idea: Idea has been involving of development which is related over technological
development which makes benefits in relation over making J 7 expansion possible within
market. After this stage J 7 makes revolution conducted in earlier level.
Research: At the stage market helps in performing of analysis related to J 7 which is a
mobile that is there to determine potential within market. In this innovation makes procedure
judged through effectiveness within market.
SWOT analysis
Strength
Being a new product it has opportunity over
capturing market ans attract new customers.
Weakness
It should remove its defaults in order to attain
sustainability within market
Opportunities
As this is new product which makes
opportunity for Samsung regain strength within
market.
Threat
The major threat that can be faced by the
organization is its competitors like Motorola,
Nokia. So it should use the product very
carefully so that its competitors does not copy
product launched by it.
Target audience
In this market is been divided into three parts that segmentation, targeting and positioning
is done. Further it done in relation to Samsung as follows:
Segmentation: Under it product is been divided as per the price strategy system which helps
Samsung in capturing market.
Targeting: This helps in targeting market as per the class which is presented within market. This
makes product of Samsung reach to its customers in more effective manner.
Positioning: In this market is been targetted according to the various kinds of aspects that is
been marked as per the product within market. This helps Samsung in gaining proper expansion
within market.

Product&Service Development
Product development: Under it research has been taken which makes target selection
over focusing on those trends of market which makes technology sound customers to be targeted.
In this management of J 7 which makes reestablishment of market through attaining position
within market. As later processor and coolant is been used which makes J 7 more connected to
technologies by everyone.
Commercialization: In this management of J 7 is required to used new coolant and
processor which makes targeted customer base which make sample population over targeted
bases. In this proper test customer makes feedback makes evaluation looking sustainability for
making pricing strategy method used.
Monitoring and evaluation: The product which is launched by J 7 would then be
monitored at a regular interval in order to make sure it is properly functioning in the market. The
feedback received would also make the organization realize the changes that should be made in
the product by them as well as the kind of strategy and promotion that should be used by them.
MARKET RESEARCH IN CONTEXT TO NPD FOR J 7
Through researchers management working over J 7 which is able to develop changes for
making product with more efficiency. In this various points has been marked out by management
which has been explained as follows:
Market opportunity: In this researches which is been increased in relation to making
new technology been used which makes $6 billion till the year (Vendrell-Herrero and et. al.,
2020).
Proposed strategy: Under it management is been adopted in differentiation of strategy in
making proper implementation over brand looking through marketing strategy. Also organization
can go over aggressive through marketing that creates awareness about product within market.
Marketing channels: The management at J 7 upon various marketing channels like TV,
digital media as well as print media in order to promote and market their product among the
targeted customers.

Product&Service Development
Competitors: For J 7 market management requires over facing competition which proves
within market. In relation through existing within market for making competition develope with
the competitors.
FINANCIAL OVERVIEW OF THE NEW PRODUCT DEVELOPMENT
HEADS ESTIMATED COST
MARKET ANALYSIS £100000
DEVELOPMENT OF THE PRODUCT £50000
TESTING OF THE PRODUCT £20000
MARKETING £50000
DISTRIBUTION DEVELOPMENT £100000
DEVELOPMENT OF INFRASTRUCTURE £10000
TOTAL £33000
Product idea has been making market which has been existing over new product through
development of plan. In this organization is needed over making financial inputs which makes
planning to be made. Under it process upon idea makes generation over screening through
making eliminating form of development through new products which makes support developed.
Testing is been done over making concept analysis which makes management of J 7 been more
possible this is estimated to be£50000. Overall it can be said that all the aspects along with
appropriate marketing and promotion need to be done by the management working at Milo drink
in addition to the proper estimation in terms of finance (West, and et. la.2018).
RECOMMENDATIONS
Under it some recommendation is been undertaken over managing work at J 7 for
establishing within the market. This is there to make competition within market developed.
Certain recommendation has been explained as follows:
• In relation using new processor makes new technology enhanced that leads upon making
technological freak developed understanding about benefits which makes customer up to dated
with technology. Also coming up with new mobile makes organization boost its profit with more
effectiveness.
• Also using of new coolant and new processor makes new customer involved in technology is
been attracted to customers.

Product&Service Development
• Management makes undertaking of long –term goals achievement possible that is focused
through making new products developed. This is going to attract success and growth within an
organization like Samsung possible.
• In this marketing strategy is been included which is based upon promotion, marketing and
budgeting developed within an organization. This makes taste of consumer developed within
market (Wolfenstetter, and et. al. 2018).
• Under it innovation is been developed as per the product of J 7 which makes consumer attain
technological advancement developed. In this J 7 leads over developing new technology through
making customer attraction possible.
• Marketing is mainly emphasized over making importance in relation to develop about lifestyle
that is technological advancement. In this important traditions is been develop as new
technological trends.
REFLECTION
The pitch that has been made over presenting and making presentation with more which
makes easier in making evaluation done with the development of new products that has been
launched by Samsung management within market. All the process is based over various kinds of
observation through which analysis is been done. Also I have makes sure that team members
working with more effectiveness in order to attain success over product by using of new and
innovative ideas. This makes current market scenario developed. Under it I have achieved the
project which is proper over development as per product needs through meeting stage upon
discussing it. The part which I have achieved in the project was last in which proper
development of the product needs to be met as well as the stages had to be discussed which can
be further used by the management of Samsung in making their new innovative product
awareness among the customers.
All the activities within future makes team members through clearing about those tasks
and duties in it effort in effective manner. Also effort is made through educational qualifications
this made interest in business scenario developed in more effective manner. This made sure that
team member working towards completing of project in more affective way. In this undertaking

Product&Service Development
project through proper planning of team that made long working skills so that best delivery been
made. This makes sure that working skills is been delivered by them. We also made sure that
every team member communicates well with each other so that the transparent sharing of
information could be encouraged and no confusion in their minds could be created. In this
direction a TEAMs group was made to make all the communication among team members
transparent. Although we had established and divided the presentation into three parts, one for
each of the group members, each of us was encouraged to make use of their creativity and come
up with ideas on the Teams group. Also this has helped in making my project to be done in more
smooth and efficient manner. As this is technology based project which made different kinds of
ideas and trends develop according to market that has lead in relation over making essentials
knowledge over technology developed within me Yu, E. and (Sangiorgi, 2018).
CONSLUSION
From the above discussion it has been concluded that Product and service development
is one of most effective part of an organization making success developed within an
organization. In this file the product that is been developed is J 7 which is an Smartphone made
by Samsung whish made it stay ahead of its competitors. In this file things that is been covered is
related to NDP and pitch has been explained. Also makes products technological more advanced
which makes smart phone technology more advanced. In this Samsung has been used over
products that makes knowledge and skills. Through this organization like Samsung makes future
growth possible in making large market share developed. End of the file is related over
innovating product organization which earns profit over great heights ahead.

Product&Service Development
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