Product and Service Development: Samsung Product Analysis Report

This report analyzes Samsung's product and service development, focusing on the processes and strategies employed by the company. It begins with an introduction to the importance of new product development for organizational growth and competitive advantage. The report provides an overview of Samsung, including its history and product portfolio, and then delves into the product lifecycle model, applying it to various Samsung products, including televisions and mobile phones. A significant portion of the report is dedicated to the product life cycle of the Samsung J7, its decline stage, and potential innovations. The report covers new product development phases, including idea generation, screening, and concept development, and also includes a SWOT analysis, target audience identification, and market research related to the J7. Finally, the report provides financial overviews, recommendations, and a reflection on the overall process, offering a comprehensive analysis of Samsung's product development strategies and challenges.

PROJECT ON PRODUCT AND
SERVICE DEVELOPMENT
UNIT 22

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Submission Front Sheet
Programme BTEC Higher National Diploma (HND) in Business (RQF)
Unit Title and Number: Product & Service Development (Unit 22)
Word Count
Date APR. 2021
Table of contents
Introduction……………………………………………………………………………………
Overview of the company…………………………………………………………………….
Product portfolio
Product lifecycle and application on Samsung products
New product development……………………………………………………………………
NPD for J7…………………………………………………………………………………….
SWOT analysis
Target audience
Market Research in context to NPD for J7……………………………………………………..
Financial overview of the new product development…………………………………………
Recommendations……………………………………………………………………………..
Reflection……………………………………………………………………………………..
Conclusion……………………………………………………………………………………

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References…………………………………………………………………………………….

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INTRODUCTION
As a junior product manager of Samsung the report has been created to details on the
information about the main process which are undertaken by a company to ensure effective
development of new product and services which are designed and regularly come up by firms.
Beside this, analysis of numerous stages which are also involved with the application of which
company can make developments and improvement in their new product and the 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 death of the owner Samsung was
separated into main five commercial group which consists of Samsung Group, other is Shinsegae
Group, third one is CJ Group and fourth is Hansol Group, and finally the Joongang Group. Since
1990. From that time to till now, Samsung has increasingly globalized its business operations,
activities and other electronics items. Especially in its mobile phones and areas of

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semiconductors have become and grown up as its most important source of income and growth
(Dinçer and Yüksel, 2018).

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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
Figure 1 : Adopted from: (Kennedy, 2016)
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.

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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.
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.

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3. Maturity stage: It is the final stage in product development where the brand started
making enhanced establishment and improved awareness in the customers about their
newly launched product and services and now the maim focus of company is only on
increasing its sales and market share. 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. Further, at the point of maturity the market of the firm also
starts saturating and thus, the competition level in the market also starts increasing.
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
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.

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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.
INNOVATION
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
Figure 2. (Adopted from : Akrani, 2012)

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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.
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.

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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).
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

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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 targeted according to the various forms of the aspects are also
there that has been marked and observed as per the product development within market. This
helps Samsung in gaining proper expansion within market.
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.