University Assignment: BS110 Product Management Launch Report

This report details the launch of a new sustainable product, specifically focusing on packing cubes made from recycled plastics within the travel industry. It begins with an introduction to the concept of sustainable product development, emphasizing the importance of green design. A PESTLE analysis of the tourism industry is conducted, examining political, economic, sociocultural, technological, legal, and environmental factors. The report then outlines the STP (Segmentation, Targeting, Positioning) strategy, focusing on local travelers, young populations, and those aware of sustainable factors. Two product concepts, solar chargers and packing cubes, are considered, with the latter chosen for its viability. A viability assessment is presented, considering the product features, target customer, transaction process, market competition, and environmental factors. The report concludes by highlighting the benefits of packing cubes for travelers and includes a list of references.

NEW
PRODUCT
LAUNCH
A SUSTAINABLE PRODUCT

Introduction
■ Sustainable product
development is the new
trend.
■ Will follow the Framework of
Strategic Sustainable
Development.
■ High demand for the
sustainable products.
■ The aim is to propose Green
Design of the products.
■ Considered industry is
Travel.

Market analysis:
■ The PESTLE analysis of the tourism industry of the country is considered.
 Political:
 Open borders and friendly relationship.
 Stable government.
 A good tax incentive structure (Lipizzi, Iandoli, and Marquez. 2015).
 Economic:
 The best possible way to invest ad spend money.
 Sharing economy structure is facilitating the travelers to take trips.
 Easy and availability of accommodations and commutations (Lipizzi, Iandoli, and Marquez. 2015).
 Sociocultural:
 World’s largest diversity.
 An open socio- cultural structure.
 Fashionable travelling options.
 However, presence of racial discrimination though, the practices of the same towards the visitors are quite
less (Jin, Jeong, and Yoon. 2015). .

Market analysis:
 Technological:
 Offers amazing commutation and transportation services.
 Effective use of social media in promotion (Kahn.2014).
 Legal:
 Basic guidelines for the tourists must be maintained.
 The travelling rules and the behavioral guidelines must not be violated
(Jin, Jeong, and Yoon. 2015).
 Environmental:
 Pollution due to transportation is continuously kept in check.
 Behavioral issues of the tourists like littering and being disrespectful are
not encouraged (Jin, Jeong, and Yoon. 2015). .

STP
■ Segmentation:
■ Essentially for the local travelers.
■ Made towards the young population.
■ Approaching to single tourists, business tourists and the
health tourists (Khan,. 2013).
■ Targeting:
■ Potential Income.
■ Have the zeal to explore.
■ Aware of the sustainable factors (Wang. 2016).
■ Positioning:
■ Positioning aims at benefit.
■ Positioning according to user category.
■ Positioning by product (Wang. 2016).

Conceptualizing products:
The two products which have been
considered for this assignment are
explained in the following.
Solar charger:
■ Solar-powered.
■ Eco-friendly.
■ Reliable way of charging.
Packing Cubes:
■ Made from recycled plastic products.
■ Environment friendly.
■ Save space.
■ Keeps the carry organized.

Viability Assessment:
The Product:
■ Identifying the features if the product, which in this case is
sustainable.
The Customer:
■ Identifying the correct customers which in this case, are the young
people who are employed and have knack to travel (Dewulf. 2013).
The Transaction:
■ The process of transaction must be comfortable and hassle free
(Dewulf. 2013).

Viability Assessment:
The Category:
■ Understanding the
competitions of the
market, which in this
particular scenario,
are quite a few.
The Environment:
■ The changes and the
factors of
environment and a
booming economy
(Rosca, Arnold, and
Bendul. 2017).

Final Product:
The final product is, Packing Cubes.
■ It makes the travelling easier.
■ It is more effective in case of
travelling.
■ The travelers do not need to
scramble any more.

Conclusion:
■ The report discusses about new product launch.
■ The considered industry is traveling.
■ The considered product is packing cubes, which are sustainable, as it
is made from recycled plastics.

References:
■ Dewulf, K. (2013). Sustainable product innovation: the importance of the front-end stage in the innovation
process. Advances in industrial design engineering, 139-166.
■ Jin, G., Jeong, Y. and Yoon, B., 2015. Technology-driven roadmaps for identifying new product/market
opportunities: Use of text mining and quality function deployment. Advanced Engineering Informatics,
29(1), pp.126-138.
■ Kahn, K.B., 2014. New product forecasting: an applied approach. Routledge.
■ Khan, T., 2013. STP strategy for new product launch-a work in progress. International Journal of Business
and Management Invention, 2(3), pp.56-65.
■ Lipizzi, C., Iandoli, L. and Marquez, J.E.R., 2015. Extracting and evaluating conversational patterns in social
media: A socio-semantic analysis of customers’ reactions to the launch of new products using Twitter
streams. International Journal of Information Management, 35(4), pp.490-503.
■ Rosca, E., Arnold, M. and Bendul, J.C., 2017. Business models for sustainable innovation–an empirical
analysis of frugal products and services. Journal of Cleaner Production, 162, pp.S133-S145.
■ Wang, C.H., 2016. Integrating correspondence analysis with Grey relational model to implement a user-
driven STP product strategy for smart glasses. Journal of Intelligent Manufacturing, 27(5), pp.1007-1016.