THUONG MAI UNIVERSITY

ENGLISH DEPARTMENT

PRESENTATION
TOPIC : Present different stages in developing and launching a product.
Take one a product to develop as an example to explain these stages

Course : Business English 1.2

Group: 2

Lecturer: PHAM THI XUAN HA

 MEETING MINUTES
Subject: Business English 1.2

Group: 2

I. Time and place

Time: 14:10-15:10
Date: 8/11/2024
Place: Microsoft Teams

II. Participants:
Vũ Cẩm Anh ( Leader )
Nguyễn Mai Anh
Phan Bùi Kim Anh
Phạm Thị Minh Anh
Trần Đức Anh

III. Contents for discussing

1. Topic: Present different stages in developing and launching a product. Take one a
product to develop as an example to explain these stages.
2. Contents:
- Give comments on each member's outline, and then combine them into a final outline
- The team leader assigns tasks to each member.
- The team leader gives a deadline for each task
Leader (Signature and name) Minute-Taker (Signature and name)

Cẩm Anh Minh Anh

Vũ Cẩm Anh Phạm Thị Minh Anh

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 MEMBERS ASSESSMENT AND DISCUSSION SCORE

Ordinals
Name Tasks Scores Appreciations
number

- Content 1.1
6 Nguyễn Mai Anh - Powerpoin
- Presentation
- Content 3.2
7 Phan Bùi Kim Anh
- Presentation

- Content 1.2
8 Phạm Thị Minh Anh - Word
- Presentation

- Content 2
9 Trần Đức Anh - Game
- Presentation
- Content 3.1
10 Vũ Cẩm Anh - Powerpoint
- Presentation

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Table of content
MEMBERS ASSESSMENT AND DISCUSSION SCORE..............................................2
I. BACKGROUND SITUATION......................................................................................5
1.1. Water temperature change feature............................................................................5
1.2. Filtering....................................................................................................................5
1.3. Daily water intake tracking and reminder feature....................................................5
II. STAGES.........................................................................................................................6
2.1. Different stages of developing.................................................................................6
2.1.1. Idea Generation and Concept Development:.......................................................6
2.1.2. Market Research and Validation:........................................................................6
2.1.3. Design and Prototyping:......................................................................................6
2.1.4. Product Development and Engineering:..............................................................7
2.1.5. Testing and Refinement:......................................................................................7
2.1.6. Prepare the advanced point for the next version of the product..........................7
2.2. Different stages of launching...................................................................................8
2.2.1. Conducting a survey and doing market research.................................................8
2.2.2. Develop a Go-To-Market Strategy......................................................................8
2.2.3. Developing premium product packaging...........................................................10
2.2.4. Product policy....................................................................................................10
III. EXAMPLE.................................................................................................................12
3.1. Apply different stages in developing into “Smart water bottle” product...............12
3.1.1. Idea Generation and Concept Development:.....................................................12
3.1.2. Market Research and Validation:......................................................................12
3.1.3. Design and Prototyping:....................................................................................13
3.1.4. Product Development and Engineering:............................................................13
3.1.5. Testing and Refinement:....................................................................................13
3.1.6. Prepare the advanced point for the next version of the product........................14
3.2. Apply different stages in launching into “Smart water bottle” product.................14
3.2.1. Market Research and Survey.............................................................................14
3.2.2. Define Target Market........................................................................................14
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 3.2.3. Develop Go-To-Market Strategy.......................................................................14
3.2.4. Establish Communication Channels..................................................................15
3.2.5. Collaborate with Influencers..............................................................................15
3.2.6. Design Premium Product Packaging.................................................................15
3.2.7. Set Pricing and Policies.....................................................................................15
3.2.8. Launch and Promote the Product.......................................................................15
IV. CONCLUSION..........................................................................................................16
REFERENCES.................................................................................................................17

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 I. BACKGROUND SITUATION
1.1. Water temperature change feature
- On a cold winter day, you crave a warm cup of water to warm your body. Or on a hot
summer day, you yearn for a refreshing cold drink. With this smart water bottle, you can
easily adjust the water temperature at the touch of a button. Now, you can enjoy
delicious drinks anywhere, anytime.

Emphasis: Emphasize the convenience, flexibility, and ability to meet diverse user
needs.

1.2. Filtering
- Are you concerned about the quality of the water you drink? This smart water bottle is
equipped with advanced filtration technology, effectively removing impurities, bacteria,
and heavy metals, providing you with pure and safe drinking water.

Emphasis: Focus on health and food safety concerns, highlighting the product's advanced
water filtration features.

1.3. Daily water intake tracking and reminder feature

- Do you often forget to drink enough water each day? This smart water bottle will be
your loyal companion, helping you track your water intake and reminding you to drink 2
liters of water per day. The accompanying app provides you with detailed reports on
your drinking habits.

Emphasis: Link the features to health apps, helping users gain a comprehensive overview
of their health status.

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 II. STAGES
2.1. Different stages of developing

2.1.1. Idea Generation and Concept Development:

 Identify the need.
 Brainstorm features.
 Create a minimum viable product (MVP) concept.
The first step in creating a new product is identifying a core need or problem that
requires a solution. From there, brainstorm potential features that could solve this
problem or approach that could address this need effectively. Once the features are
identified, create a Minimum Viable Product (MVP) concept - a basic version of the idea
with essential features to test the concept in the market and gather initial feedback before
further development.

2.1.2. Market Research and Validation:

 Conduct surveys and interviews to understand target audience preferences.
 Analyze competitor offerings and identify unique selling points.
 Validate the concept with potential customers through focus groups or beta
testing.
Before diving deeper into development, conduct thorough market research. This involves
conducting surveys and interviews to understand the preferences of the target audience,
ensuring the product addresses their specific needs. Analyzing competitor offerings helps
identify any gaps in the market, providing an opportunity to highlight unique selling
points that set the product apart. Once the concept is developed, validate it by engaging
potential customers through focus groups or beta testing, allowing you to gauge interest
and receive feedback before moving forward.

2.1.3. Design and Prototyping:

 Design the bottle's physical appearance and user interface.
 Develop prototypes to test functionality, durability, and aesthetics.
 Interate on the design based on feedback from testing and user experience
research.
With a validated concept in hand, the next phase is design. Focus on both the bottle’s
physical appearance and the user interface of the connected app, ensuring they are
intuitive and aesthetically pleasing. Develop prototypes to test the product's

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functionality, durability, and overall design. During this phase, gather feedback from
testers to refine the product, ensuring it meets the needs of the user while also being
durable and visually appealing.

2.1.4. Product Development and Engineering:

 Finalize the product design and specifications.
 Develop the necessary hardware and software components.
 Ensure the product meets quality standards and regulatory requirements/ create
some progamme to attract the customers’ attention
Once the design is finalized, move on to the product development phase. This involves
completing the final design specifications and creating the necessary hardware and
software components, making sure all parts work together seamlessly. It’s also crucial to
ensure that the product meets quality standards and regulatory requirements, ensuring its
safety and effectiveness. To attract customer attention, consider creating engaging
programs such as early access offers, referral incentives, or limited-time discounts.
These programs can generate buzz, increase demand, and build a loyal customer base
even before the product is officially launched.

2.1.5. Testing and Refinement:

 Conduct rigorous testing to identify and fix any issues.
 Gather user feedback to make improvements.
 Refine the product's features and performance.
After the product is developed, it’s time for rigorous testing. This phase focuses on
identifying and fixing any potential issues, from software glitches to hardware
malfunctions. User feedback is crucial here, as it provides valuable insights into the
product’s performance and user experience. Based on the feedback, refine the product’s
features and functionality to ensure it meets the highest standards of quality and user
satisfaction before launching it to the market.

2.1.6. Prepare the advanced point for the next version of the product
Example of Possible Features in Later Versions:

 Smart Hydration Algorithms

 Health Metrics Integration.
 Extended Battery Life and Solar Charging

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For the next version, consider adding smart hydration algorithms for personalized
recommendations, integrating health metrics with wearables for a holistic view of
wellness, and extending battery life with energy-efficient components and solar charging
for convenience on the go. These upgrades would enhance functionality and keep the
product competitive.

2.2. Different stages of launching

A lack of preparation is the biggest reason so many product launches fail. In many ways,
this lack of preparation can be traced back to the myth that “if you build it, they will
come.” People who subscribe to this mantra often grossly undervalue the importance of
marketing and all the work that goes into a successful product launch.

Before launching a new product in the market, the businesses should get over some
stages to achieve success in their product.

2.2.1. Conducting a survey and doing market research

Launching a new product at the right time is essential to its success. Some factors to
consider are:

 Seasonality: Some products are in demand at different times of the year. For
example, launching a new swimwear line in early summer can help maximize
sales compared to the winter.
 Consumer trend: Products need to be relevant and appeal to the market. When
the winter is coming, the number of people buying sweaters is increasing
significantly compared to the summer.
 Market conditions: The economy and competition can impact the timing of a
new product. If consumers have anxiety about spending, it can lead to a poor
launch. Especially, to succeed in a challenging economic condition, a deep
understanding of the market and tailoring the product to align with average
consumer income is a decisive factor.

2.2.2. Develop a Go-To-Market Strategy

Today, the marketing industry is dominated by two key approaches: offline and online
marketing.

a. Offline marketing

Offline marketing offers a traditional way to engage consumers. Businesses can foster a
deeper connection and facilitate wise purchasing decisions by allowing customers to
interact directly with products in stores. This firsthand experience enables customers to
evaluate a product's quality, features, and suitability for their requirements. Beyond

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product displays, in-store events, demonstrations, and personalized recommendations
can further enhance the customer experience, creating a memorable shopping journey
that sets businesses apart.

Beyond providing direct product experiences, businesses can organize launch events and
workshops to enhance brand visibility and foster customer loyalty. These interactive
experiences allow customers to engage with brand representatives, ask questions, and
receive personalized recommendations.

b. Online marketing

 Establish the business’s launch channels

Establishing effective communication channels is essential for businesses looking to
reach new customers and promote their products. By leveraging platforms such as social
media, websites, and email marketing, companies can disseminate information about
their products and services to a wider audience. This not only helps to increase brand
awareness but also allows for more personalized and targeted marketing efforts.
However, building and maintaining a successful communication channel requires a
strategic approach, including creating high-quality content, engaging with the audience,
and measuring performance.

 Collab with influencers

Many businesses have wisely partnered with social media influencers, such as KOLs,
KOCs, TikTokers, and YouTubers, to promote their products. Collaborating with social
media influencers has proven to be an effective marketing strategy, enabling businesses
to reach a wider audience. There are some benefits of collaborating with influencers:

 Increased brand awareness: Customers are more likely to remember a product

when it's endorsed by someone they admire.
 Enhanced credibility: Consumers tend to trust recommendations from
influencers more than traditional advertising.
 Targeted reach: Influencers can help businesses reach specific demographics
and interests.
 Creative content: Influencers can create unique and engaging content that makes
products stand out.
With this combination, clients will have greater trust in the new product as well as
contribute to the purchasing decisions in the future.

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 2.2.3. Developing premium product packaging

 Visual
An attractive product packaging can stimulate customer purchasing behavior. Through
the selection of eye-catching colors, images, and packaging materials to express a unique
style, it increases the likelihood of consumers choosing to purchase the product and
making repeat purchases.

 Durable and convenient

Sturdy and convenient product packaging will be a plus point for the product in first
sight when looking at the new product. Therefore, to do this well, businesses should be
careful in choosing good materials for the new product that will ensure the quality of the
product inside.

If the product packaging is well made, it will ensure that the product quality reaches the
customer, avoiding any impacts that could break the product inside. If the product
packaging is convenient, it will bring many benefits to users, such as saving time
opening the product and avoiding "wrap-rage" for customers.

Good packaging not only creates a delightful shopping experience but also fosters
customer loyalty and drives long-term sales.

 Detailed information
To meet regulatory standards of a product, packaging must include comprehensive
information such as manufacturing date, expiration date, materials used, and suitable age
range. This ensures consumer safety and empowers informed purchasing decisions.

2.2.4. Product policy

a. Price

To maximize sales and customer satisfaction, businesses must conduct thorough market
research to set prices that are both affordable and competitive, considering customers'
income levels and purchasing power.

b. Delivery method

One of the key factors in retaining customers is the quality of the shipping process.
Businesses should choose reliable and reputable shipping partners to ensure that products
arrive in excellent condition, even for international shipments. Efficient shipping builds
customer trust and encourages repeat purchases.

c. Customer promotion
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For a new product, businesses should implement a comprehensive promotional strategy
catering to both new and existing customers. For instance, they could offer a 20-30%
discount on the first orders, with additional discounts for larger order values.

Moreover, businesses need to create a dedicated customer service department. This

department is responsible for collecting customer feedback, and customer satisfaction,
and using this information to improve products and better meet customer expectations

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 III. EXAMPLE
3.1. Apply different stages in developing into “Smart water bottle” product

3.1.1. Idea Generation and Concept Development:

 Identify the need: Many people struggle to drink enough water daily.
Some just drink when feel thirsty, some are too busy and forget to drink water, and
some are too lazy to drink water and they don’t comprehend the importance of
drinking enough water in a day.

 Brainstorm features: Consider smart tracking ( total amount of water needed for a
day is 2-2.5 litres and should be divived into 8-10 times – therefore the function
of tracking how many times the customers drunk is considerably significant) ,
beside temperature control based on the wishes of customers- some like drink hot
but some like cold, purification all the sediments and bacteria, and a sleek design
are also necessary features
 Create a minimum viable product (MVP) concept: A basic water bottle with a
connected app with our daily-used electronic device like smart phone or smart
watch for tracking water intake.

3.1.2. Market Research and Validation:

 Conduct surveys and interviews to understand target audience preferences.
As I have mentioned in the first stage, each people’s preference is different.
Therefore, in order to sell the product to most of the customers, many surveys and
interviews are indispensable with the purpose to find the most common ground
among people in order to live up with expectations of customer or what the expect
from our product.

Eg: about the packaging, the colour or the whether the product is simple to use or not

 Analyze competitor offerings and identify unique selling points.

 Validate the concept with potential customers through focus groups or beta
testing.
It is obvious that our product satisfy most of the customers, but it is even more
important when we identify the main customer groups among the majority and
mainly based on the age . We have to consider the young or the elderly needing this
product the most. From that, the design agency can work more effectively.

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 3.1.3. Design and Prototyping:
 Design the bottle's physical appearance ( shape, size or colour) and user interface.
 Develop prototypes to test functionality, durability, and aesthetics.
Every product needs to be test throught their prototypes and SMB is not an exception.
Before being sold in the public , it has to get over many tests in order to ensure the
functionality, durability, and aesthetics are perectly completed. This will limit the
times fixing when there is any problem from the customers’ feedback

Interate on the design based on feedback from testing and user experience research.

In the testing process, the product is given to some volunteer to use and reply their
perspective to improve the product. We just cannot complete the lab without the
customers. Sell mainly for purchased

3.1.4. Product Development and Engineering:

 Finalize the product design and specifications.
After many steps, we have to choose the final apparences depend on the results of the
interview and surveys and that should be impressive enough to become branch
recognition whenever the bottle is mentioned or searched on the internet.

 Develop the necessary hardware and software components.

This will ensure the safety and the stability of the product

 Ensure the product meets quality standards and regulatory requirements/ create
some progamme to attract the customers’ attention:
Customers are always attracted to well-qualified product with a reasonable or even cheap
price

It will temptating to customers if there are discounts 50% go along with small gifts like a
tote bag to hold the bottle or some vourchers for the next purchase

In some occasions such as Halloween, Christmas, or new year festival,.. the

manufacturer will change the decoration of the bottle with the images or ornermants
relating to those event and sell a limited quantity in order to stimulate the pleasure of
collecting unique items-at the same bring the high revenue for the company

3.1.5. Testing and Refinement:

 Conduct rigorous testing to identify and fix any issues.
 Gather user feedback to make improvements.

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  Refine the product's features and performance.
When purchasing a product, customers will focus on the outlook of that product before
genuinely attend the quality, and the same thing will happen with SWB. The information
in the outside of the bottle must be clear and accurate, which can build trust in the
customers. And when the performance is perfect enough, the most important- the
function must be censor carefully because that will be the factor whether the consumers
buy SWB or not.

3.1.6. Prepare the advanced point for the next version of the product
Example of Possible Features in Later Versions:

 Smart Hydration Algorithms: Advanced AI that personalizes hydration goals.

 Health Metrics Integration: Sensors that track water quality or electrolytes.
 Extended Battery Life and Solar Charging: Making it more eco-friendly and
reliable for outdoor users.

3.2. Apply different stages in launching into “Smart water bottle” product

3.2.1. Market Research and Survey

 Survey demand for key features: temperature control, water filtration, and
hydration tracking.
 Determine launch timing: Late spring, when demand for hydration and
temperature-regulating products increases.
 Evaluate consumer trends: Target health-conscious and tech-savvy customers.

3.2.2. Define Target Market

 Focus on health enthusiasts, tech lovers, and busy individuals.
 Competitor analysis: Identify similar products and highlight the smart water
bottle’s unique features like automatic temperature control and advanced
filtration.

3.2.3. Develop Go-To-Market Strategy

 Offline Marketing: Organize demos at sports stores and health events to let
customers experience features like temperature control and water filtration.
 Online Marketing: Utilize digital ads and partner with health blogs to promote
the product’s benefits.

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 3.2.4. Establish Communication Channels
 Use social media, a product website, and email newsletters to share information
on hydration tracking, filtration, and temperature control features.

3.2.5. Collaborate with Influencers

 Partner with health and tech influencers to promote unique features like flexible
temperature control and clean water filtration.

3.2.6. Design Premium Product Packaging

 Visual Appeal: Eco-friendly packaging with harmonious colors, emphasizing
modern style and convenience.
 Durability and Convenience: Use protective materials for secure delivery, with
easy-to-open packaging.
 Detailed Information: Include usage instructions, key features, and technical
specs on temperature and filtration.

3.2.7. Set Pricing and Policies

 Set competitive prices based on market research.
 Offer new customer discounts, e.g., 20-30% off for first orders.
 Reliable shipping policy: Partner with trusted shippers for fast and safe delivery.

3.2.8. Launch and Promote the Product

 Drive promotions through discount campaigns and special offers.
 Build a customer support team to gather feedback, improve the user experience,
and enhance the smart water bottle.

This approach ensures that each stage of launching the smart water bottle is effective,
focusing on standout features like temperature control, water filtration, and daily
hydration tracking reminders.

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 IV. CONCLUSION
In summary, developing and launching a product requires a multitude of steps and
stages. It's only after going through these rigorous processes that a product can be
successfully introduced to the market. The smart water bottle serves as a prime example
of this multi-stage journey. Through specific analyses of the smart water bottle,
customers can gain a clear understanding of its functions and features. This knowledge
can significantly contribute to promoting and advertising the product to consumers.

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 REFERENCES
1. https://www.paddle.com/resources/product-launch-strategy

2. https://evolving-digital.com/resources/how-to-launch-a-new-product/

3. https://asana.com/resources/product-launch

4. Le processus de développement produit en 6 étapes, exemples inclus [2024] • Asana

5. What Is Product Development? 7 Steps to Making a Product (2024) - Shopify

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