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Prototype and test
After the planning is done, the prototype and test stage is essential in the new product development process. Developing a prototype of the product allows the company to bring the product to life and test it with real consumers, which will bring valuable feedback. Investing in prototypes and trail testing will prepare the product for the real market entry and therefore managers with strong project management skills should be in charge and financial experts should be consulted.
Designing the prototype is another task for designers, which include industrial designers, product engineers, product quality consultants CAD specialists.
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Once the prototype is ready, testing can begin with focus groups, where 8-10 individuals from the selected target market will be invited to take part in a live trial and a feedback discussion. For the GUCCI Walk of Fame Smart Belt, five focus groups could be run with 8-10 target consumers per each group, including fashionistas, wealthy upper class individuals, mixed with wellness wearable technology users part of middle or upper-middle class and the participants could receive a cash incentive in exchange for their valuable feedback.
Analysing the feedback gives the design team to make some improvements of the product and once the changes are approved, testing the product at industry events or consumer expos could be proceed for more feedback from different markets.
Finally, after the prototype is improved based on the consumer’s feedback, launching stage can begin (Business Queensland 2020).
Marketing strategy
Once the launch time is decided, a marketing strategy can proceed and an effective tool to develop this strategy is Booms and Bitner’s 7Ps marketing mix model, which would help the business to determine what the new product is offering (Professional academy 2020).
Product: GUCCI Walk of Fame Smart Belt, unisex Price: £650 Promotion: The advertising of the belt will be done on social media, specifically on Gucci’s Instagram, as well as on the Gucci website Place: Gucci stores opened around the world People: The Gucci representatives and workers in shops Process: Gucci is known as a prestigious brand and therefore the product will guarantee for 5 years to fulfil customer’s needs Physical evidence: the Gucci website and the package will be the iconic Gucci box
