ABSTRACT
This study is designed to evaluate the causes and effect of
product failure on the Nigerian Economy.
Product is a vital component of the marketing mix and the reason why
companies are in existence. In
developing a programme to reach its intended market, a company starts with
product designed to satisfy the wants and needs of its target market. The questionnaires were administered to 100
staffs (Male = 40, Female = 60) of some manufacturing companies operating presenting
in Nigeria
and the gathered data were collated and analysed using the chi-square test (x2). Five research questions were analysed and
four hypothesis tested. The alternative
hypotheses were accepted. Hence, it was
concluded that product failures has effect on the Nigerian Economy.
TABLE
OF CONTENTS
TITLE PAGE I
APPROVAL PAGE II
DEDICATION III
ACKNOWLEDGEMENT IV
CHAPTER
ONE : INTRODUCTION 1
1.1
STATEMENT OF PROBLEM 1-2
1.2
PURPOSE AND OBJECTIVE OF STUDY 2
1.3
RESEARCH QUESTIONS 3
1.4
RESEARCH HYPOTHESES 3-4
1.5
OPERATIONAL DEFINITION OF TERMS 4-5
1.6
SCOPE OF STUDY 5
1.7
RELEVANCE OF STUDY 6
CHAPTERTWO
: LITERATURE REVIEW 7
2.1
HISTORICAL BACKGROUND OF STUDY 7
2.2
THEORETICAL FRAMEWORK 8-34
2.3
CURRENT LITERATURE REVIEW 34-35
CHAPTER
THREE : RESEARCH METHODOLOGY 36
3.1
CHARASTERISTICS OF STUDY POPULATION 36
3.2
SAMPLING PROCEDURE 37
3.3
RESEARCH DESIGN 37
3.4
DATA COLLECTION INSTRUMENTS 38
3.5
STANDARDISATION OF INSTRUMENTS 38
3.6
SCORING AND DATA COLLATION 39-40
3.7
STATEMENT OF HYPOTHESES 40
3.8
DATA ANALYSIS TECHNIQUE 41
3.9
LIMITATIONS OF STUDY 41-42
CHAPTERFOUR
: PRESENTATION AND ANALYSIS
OF DATA 43
4.1
INTRODUCTION 43
4.2
RESPONDENTS CHARACTERISTICS 43
4.3
PRESENTATION AND ANALYSIS OF DATA
ACCORDING TO RESEARCH QUESTIONS
AND HYPOTHESES 44-65
CHAPTER
FIVE : SUMMARY, CONCLUSIONS AND
RECOMMENDATIONS 66
5.1
SUMMARY OF FINDINGS 66-68
5.2
CONCLUSIONS 68
5.3
RECOMMENDATIONS 69
5.4
RECCOMMENDATIONS FOR FURTHER STUDIES 70
REFERENCES ( i.e ‘APA’ METHOD )
APPENDIX
QUESTIONNAIRE
FIGURES
FIGURES 2.1 11
FIGURES 2.2 21
TABLES
TABLE
4.1 44
TABLE
4.2–4.3 45
TABLE
4.4-4.5 46
TABLE
4.6 47-56
TABLE
4.7 57
TABLE
4.8(a)-(d) 60-65
CHAPTER
ONE
1.0 INTRODUCTION TO THE STUDY
Marketing management should be
concerned with the responsibility of pursuing customer’s oriented policies, and
as a result develop products and services that satisfy customer’s needs and
wants beneficially. Often a market
opportunity is recognized or there is a commitment to make something better or
cheaper, but occasionally the simple desire to invent or introduce a new
product or service provides the spur to starting the firm. In developing a programme to reach its
intended market, a company starts with product or service designed to satisfy
the wants and needs of that target market.
1.1 STATEMENT
OF PROBLEM
It has been observed that the
importance of product to a firm and its profits means lies at the center of
most managers thinking about the company.
Product(s) brought about the existence of firms and business executives
or managers must plan, develop and manage the product(s).
This study will provide
answers to questions:
(a)
A realization of product failure’s
impact on sales volume
(b)
Environmental changes facilitating
product failure.
(c)
Issues to reduce the rate of product
failure.
1.2 PURPOSE AND OBJECTIVE OF THE STUDY
There are numbers of
objectives of carrying out this research more essentially; this study is
designed so as to evaluate the causes and effect of product failure on Nigeria
economy. Furthermore, the study is aimed
at:
(a)
Providing an insight on the marketing
concepts (4ps).
(b)
Ascertaining the merits and demerits of
the marketing concepts.
(c)
The impact of product innovation and its
life cycle.
(d)
The causes and effects of product
failure.
(e)
Recommending more purposeful strategies
of averting product failure.
1.3 RESEARCH QUESTIONS
The study is designed
to evaluate the causes and effect of product failure on the Nigeria economy
and answers to the following questions would be given.
(a)
Why most products fail or suffer early
death?
(b)
Whether environmental changes have an
effect on product?
(c)
What is the extent of Product Life Cycle
on innovation of product?
(d)
What are the limitations to the use of
Product Life Cycle?
(e)
What are the consequences of product
failure?
1.4 RESEARCH HYPOTHESIS
In determining the
causes and effects of product failure on the Nigeria economy, some statement of
have to be tested. Hence, hypothesis is
a conceptual or tentative statement about the relationship that exists between
two or among many variables. Therefore, the researcher carrying out this
hypothesis test theory will make use of both alternative hypothesis (H1) and
null hypothesis (H0). The following
hypotheses therefore had been put forward for test by the researcher in the
course of study:
H0
- Most
firms do not realize the impact of product
failure on their sales volume.
H1
- Most
firms realizes the impact of product failure on
their sales volume.
H0
- Environmental
changes does not have effect on
product.
H2
- Environmental
changes have effect on product.
H0
- Product
Life Cycle does not enhance innovation of
product.
H3
- Product
Life Cycle enhances innovation of product.
H0
- Effective
management of the marketing concepts,
product innovation and
its life cycle does not affect the
management (marketers) and their returns
positively.
H4
- Effective
management of the marketing concepts,
product innovation and
its life cycle affects the
management (marketers)
and their returns positively.
1.5 OPERATIONAL DEFINITION OF TERMS
MARKETING
STRATEGY: - This is the master plan that provides means of
putting business policy into effect.
MARKETING
CONCEPTS (MIX): - This is the combination of
controllable variables (Price, Product, Promotion and Place) with which the
marketers achieve their marketing objectives.
PRODUCT:
- A product may be defined as a bundle of physical and psychological
satisfaction that a buyer receives from a producer.
PLACE
(DISTRIBUTION): - This is concerned with the movement
of goods from the producer to the consumers.
PRICE:-
This is what the buyer offers in return
for the product.
PRODUCT LIFE
CYCLE: - This recognizes the different stages in the life
history of a product from the time the product is introduced to the time when
it is withdrawn from the market.
PRODUCT
STRATEGIES: - These are plans put in place in order to retain
a product in the market.
1.6 SCOPE OF STUDY
The scope of this study
is to examine the causes and effects of product failure on the Nigerian economy
covering the range of some manufacturing companies.
1.7 RELEVANCE OF STUDY
The significance or
relevance of this study are:
(a)
To disclose the causes and effect of
product failure on firm’s profits.
(b)
To find purposeful strategies of averting
product failure.
(c)
To serve as a useful reference for the
future researchers who may want to delve on the same topic.
(d)
More so, the study will in no small
measure contribute to the knowledge advancement based on the findings of this
study.
Buyers has the right to create
dispute within seven (7) days of purchase for 100% refund request when
you experience issue with the file received.
Dispute can only be created when
you receive a corrupt file, a wrong file or irregularities in the table of
contents and content of the file you received.
ProjectShelve.com shall either
provide the appropriate file within 48hrs or
send refund excluding your bank transaction charges. Term and
Conditions are applied.
Buyers are expected to confirm
that the material you are paying for is available on our website
ProjectShelve.com and you have selected the right material, you have also gone
through the preliminary pages and it interests you before payment. DO NOT MAKE
BANK PAYMENT IF YOUR TOPIC IS NOT ON THE WEBSITE.
In case of payment for a
material not available on ProjectShelve.com, the management of
ProjectShelve.com has the right to keep your money until you send a topic that
is available on our website within 48 hours.
You cannot change topic after
receiving material of the topic you ordered and paid for.
Login To Comment