Okonkwo Prelims

(Joyce) #1
function of a wristwatch and the ability of a business portfolio to contain
folders, a laptop computer and other business tools.
3 The Augmented Product, which comprises the unexpected extra features
that improve the attractiveness of the product. These include extra
services, guarantees and, in the case of luxury goods, free repairs,
exchanges and lifetime warranties.
4 The Potential Productis what the product should and could be in future.
It gives an indication of how many different directions the product could
be stretched to in order to give it leverage and attractiveness.

New product development (NPD)


Luxury brands are constantly faced with market pressure to launch new and
desirable products in short life cycles. This means that as a product is
launched, new products are already in the design process. This factor calls for
a clear strategic direction in product development. In order to achieve an
articulate direction, the following steps are necessary:

1 Generation of new ideas. This is where designers are inspired by different
elements ranging from travel and art to culture, literature, an era and even
space. It is also at this stage that the services of trend-watchers, researchers
and venture teams who track consumer behaviour are required. For exam-
ple, for the autumn/winter 2005 collection of Burberry Prorsum, the
brand’s Creative Director Christopher Bailey took inspiration from the
strength of character and cultural revolution of the 1960s, triggered by
Twiggy.
2 Screening of ideas involving a study of what is acceptable in the market-
place. This is an important aspect of product development and could lead
to a negative impact if overlooked. For example, Chanel made a faux pas
during its fashion show for the summer of 1985 where models showed
dresses with design imprints of verses from the Muslim Koran. This
prompted protests from the Muslim world and an apology and discontinu-
ation of the design by Chanel.
3 Testing concepts and their feasibility. For example, the use of specific
materials that are both appealing and acceptable, for products manufac-
ture. This is a key aspect of product development as the wrong choices
could lead to a negative impact. An example is the use of animal fur which
sometimes provokes protests from consumers.
4 Business analysis to ensure that the product has the potential for generat-
ing profits. For example, the Louis Vuitton Murakami leather goods line
was a huge success when it was launched in 2002/2003 because the brand
had evaluated its success potential.
5 Development of the product through design prototypes. This provides a
first-hand look of the final product and an opportunity for modifications.

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luxury fashion branding
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