ABSTRACT
This
study was conducted to determine the relevant of new product development in
attaining marketing objective of table water manufacturers in Anambra State
. However, to achieve the goal of the study, the closed ended r4esearch was
used to study (twenty one) table water manufacturers, where questionnaire were
administered to 18 respondents in order to obtain first hand information after
a critical analysis of the data collected and the test of the hypothesis using
the chi-square statistical tool. The following were established, that there is
significant relationship between new product development and marketing
objective of bottled water manufactuturers. Marketing testing enhances the
relationship between new product development and marketing performance of
bottled water manufacturer.
The table water manufacturers should not
rely on external agency, they should employ
qualified and expert who are capable of elicity the required information
to work in the development unit so that misleading information will not be send
to the management for decision making.
They should carry out persuasive
advertising in order to change their customer behaviour towards their product.
Since the new product development needs
expertise, they should establish functional marketing intelligent system so as
to reduce the burden f frequent new product development on enevironmental and
market study.
TABLE OF CONTENT
TITLE PAGE
APPROVAL PAGE
DEDICATION
ACKNOWLEDGEMENT
ABSTRACT
TABLE OF CONTENT
CHAPTER ONE
1.0.
Introduction
1.1.
BACKGROUND
OF THE STUDY
1.2.
STATEMENT
OF THE PROBLEM
1.3.
OBJECTIVE
OF THE STUDY
1.4.
RESEARCH
QUESTIONS
1.5.
STATEMENT
OF HYPOTHESIS
1.6.
SIGNIFICANCE
OF THE STUDY
1.7.
SCOPE
OF THE STUDY
1.8.
LIMITATION
OF THE STUDY
1.9.
DEFINITION
OF TERMS
CHAPTER TWO
1.0.
LITERATURE
REVIEW
1.1.
INTRODUCTION
(OTHER FUNCTION OF THE
TOPIC)
REFERENCES
CHAPTER THREE
3.0.
RESEARCH
METHODOLOGY
3.1.
INTRODUCTION
3.2.
RESEARCH
DESIGN
3.3.
SOURCES
OF DATA COLLECTION
3.4.
POPULATION
AND SAMPLE SIZE
3.5.
SAMPLING
TECHNIQUE
3.6.
VALIDITY
AND RELIABILITY OF MEASURING INSTRUMENT
3.7.
METHOD
OF DATA ANALYSIS
CHAPTER FOUR
4.0.
PRESENTATION
OF DATA AND ANALYSIS OF DATA
4.1.
INTRODUCTION
4.2.
PRESENTATION
OF DATA
4.3.
ANALYSIS
OF DATA
4.4.
TEST
OF HYPOTHESIS
4.5.
INTERPRETATION
CHAPTER FIVE
5.0.
SUMMARY,
CONCLUSION AND RECOMMENDATION
5.1.
INTRODUCTION
5.2.
SUMMARY
OF FINDINGS
5.3.
CONCLUSION
5.4.
RECOMMENDATIONS
REFERENCES
APPENDIX
CHAPTER ONE
1.0.
INTRODUCTION
New
product development is not only an essential ingredient in effective marketing
but also indispensable is very persuasive. Although in practice it is mostly
applied in production of new and better methods in an enterprise operations
(process technology) aimed at improving efficiency and effectiveness.
The
society we found ourselves is in a state of flux and therefore the only thing
that is stable is change. The needs nad wants of the inhabitants of the society
are changing by the day. Sequel to this the firm must innovate or perish.
Therefore the products developed should be able to meet the dynamic need of the
target market, for market to be secured.
Hence
adequate marketing research has to be effectively conducted before coming up
with a product otherwise its sale will
hit the rock.
Product
development is absolutely pivotal to future marketing success. The major goal
of product development is modify products so as to better satisfy needs at
reduced costs and also make the management of an organization to obtain a
competitive advantage and customer loyalty.
Therefore,
this chapter will deals with a view of earlier work on the subject matter.
1.1.
BACKGROUND
OF THE STUDY
The Nigerian
economy has recently recorded growth in some of its major sectors, among which
is the bottled water manufacturing industry. In the past this sector comprise
of very few companies who could not meet the market demand of portable drinking
water in the country. Due to the untapped opportunity in this sector, a
lot of mushroom operators ceased
advantage to market very poor quality unbranded products popularly regarded as
“pure water”.
However, with the economic reforms still
taking place, a lot of government enforcement agencies such as National Agency
for Food and Drug Administration Control (NAFDAC) and Standard Organization of
Nigeria (SON) have intervened by clearing up the cities of inferior products
(pure water).
Although, growth in the bottled water
industry is not rapid, one can appreciate the level of sanity in the sector.
The improvements noticed in the product quality can be traced to its packaging,
labeling, branding and its contents. With the relatively slow growth
experienced in this sector competition has began to intensity and since price
war is not too common, firms must resort to other strategies (New product
development, promotion and distribution).
Product are the linking point and
relying totally on old or existing products will be a stupid, ides. Companies
here to innovate, whether by differentiating or diversifying their product
portfolio, there is the need for bottled water producers to invest heavily on
research and development in order to continually meet the ever-changing demand
of consumers.
New product development is the process
of creating something entirely new or adjusting and existing product to thing
entirely new or adjusting and existing product to better satisfy customers
needs and wants (Bassi, 2006)
New product development is one of the
avenues of enlarging the size of a firms products portfolio although, any firms
seem not to have recorded much success in this area due to depressed global
economy, it is imperative to recognize the fact that necessity gives birth to
depressed global economy, it is imperative to recognize the fact that necessity
gives birth to invention and organizations who refused to innovate will be
forced out of the market.
New products are the future any business
and with out a continuous flow of them, the marketing system would probably
die. Every organization should carry on with a new product it for no reason at
all, “that some existing company’s product with enter the decline state some
day.
Furthermore, it is of paramount
importance for top management to develop specific criteria for accepting new
products ideas. Such criteria can vary with the specific role the product is
expected to play.
This study will lend from Booz – Atlen
and Hamilton (1982) in Baker (1996) eight (8) strategic role that companies can
use to set objectives for their new products.
They
are as follows:
1.
To maintain position as a product innovation
2.
to establish a market share position
3.
to establish a foothold in a future new
product
4.
to preempt a market segment
5.
to exploit technology in a new way
6.
to capitalize on distribution strengths
7.
to utilize excess or off season capacity
8.
to provide cash generations.
Kolter
(2000) also quoting Booz- Allen and Hamilton 91982) identified six categories
of products and their newness to the company and the market.
i.
Market of complexity
ii.
Relative merit
iii.
How compatible
iv.
Observation benefits
v.
Sampling quality
To crown
it up today under the pressures of inflection and high cost, major factors of
production the succession of a company’s product development depends on how
effectively organized its structure is
in managing the new product development process; Kotler (2002) noted that new
product development is retarded as a result of the following; shortage of
important ideas fragmented markets, social and government constraint, costless
of the development time and shorter product life cycles.
He further added that eigth (8) steps
could be identified in the development process namely;
1.
Ideal generation
2.
Ideal screening
3.
Concept development and testing
4.
Marketing strategy development
5.
business analysis
6.
Product development
7.
Test marketing
8.
Commercialization
1.2.
STATEMENT
OF PROBLEM
It is
uncertain whether bottled water manufactures carry out new product development.
Also of a concern to the research to know the extent to which cost of
developing new product affects marketing performance of bottled water
manufactures. It is not yet clear to the researcher how qualified the research
and development personal are.
Also of a concern to the researcher to
know the relevance of business analysis to table water firms performance. The
researcher is also in doubt of the contribution of market testing to the
performance of bottled water firms. It si also doubtful weather moderating
factors affect the relationship between new product development and marketing
performance of bottled water companies.
1.3.
OBJECTIVE
OF THE STUDY
This
study was primarily undertaken to investigate the extent of relationship
between product development and marketing performance of bottled water
producers in Anambra
State.
Further
more, the following specific objective will be determined.
1.
To know whether bottled water manufactures
carryout new product development.
2.
To ascertain the extent to which cost of
developing new product affects the
marketing performance of bottled water manufacturers.
3.
to know how qualified the research and
development personnel are
4.
To find out at the relevance of business
analysis to bottle water firms performances.
5.
To know whether market testing contributes to
the performance of bottled moderating factors affects the relationship between
new product development and marketing performance of bottled water companies.
1.4.
RESEARCH
QUESTION
1.
Does bottled water manufactures embark on new product
development?
2.
does cost of ddeveloping new product affects
marketing performance of bottled water producers?
3.
how qualified are research and development
personnel of bottled water manufacturers?
4.
Does business analysis contribute in the
performance of bottled water producers?
5.
Does market testing enhance the performance of
bottle water manufactures
6.
Does marketing factors have any effect on the
relationship between new development and marketing performance of bottled water
producers.
1.5.
STATEMENT
HYPOTHESIS
Hypothesis I
Ho: There is no significant
relationship between new product development and attainment of marketing
objectives of table water manufactures.
Hi: There is significant
relationship between new product development and attainment of marketing objectives
of table water manufactures.
Hypothesis
II
Ho: There is no
significant relationship between market testing and attainment of marketing
objectives of tables water manufactures
Hi: There is significant
relationship between market testing and attainment of marketing objectives of
tables water manufactures
1.6.
SIGNIFICANCE
OF THE STUDY
To
the researcher, it is pre-requisition for the award of higher National Diploma
(HND).
It is the believe of the researcher that
the findings as well as the recommendation will immensely benefit the bottled
water industry, and the entire manufacturing industry in their new product
strategies and campaign/efforts activities. This si not only limited to be
manufacturing industry but extents to the service industry. This si due to the
fact eh new products have the potentials of pressuring a firms current and
future position in the competitive market.
This will also enlighten (readers,
investors, distributors, suppliers, consumers, governments etc) the Nigerian
publics on the area of new product development.
Furthermore, students and researchers
with interest on similar subject can use the this piece as a stepping stone in their
studies.
1.7.
SCOPE
OF THE STUDY
For
reasons inevitably related to operational and financial convince, this study is
restricted to table water manufacturers in Anambra State
1.8.
LIMITATION
OF THE STUDY
This
research will not be complete without the researcher mentioning some of the
factors which have in one way or the oher hindering the completion of this
study. The most prominent bring the following:
High Cost: Dues
to rising cost of transportation and other material required in the execution
of the study it is not possible to frequent these companies.
Time:
The researcher being a final year student has to allocate the available time
between this study and other school activities.
Again mention must be made of the
attitude of the respondents to ther researcher during the field work, most respondents
seemed to be suspicious of the research. The fear of dangerous exposition and
industrial espionage made them skeptical and refused to, answer some
questions..
However, the research was completed as
the research was able to adapt the situation.
1.9.
DEFINITION
OF TERMS
New product development:
According to Onuoha J Kelechi (2005:26) product is defined as anything that is offered to the market, which is
capable of solving or satisfying any given want.
New Product:
According to Barket (1980:45) New product is defined as anything which is
perceived as such by the consumer or with which the form has no previous
experience.
Product Development:
This can be seen as any change or any additional model to already existing
product of a firm or company
Marketing Concept:
Kotler (1999:24) defined marketing concept as a management orientation hic hold
that the needs and wants of target markets and to adopt the organization and
more effectively than it is competition.
Strategy:
This is general programme of action and development of emphasis and resources
to attain comprehensive goals.
Marketing Strategy: Onuoha J. K (2007:58) defined
marketing strategy of a grand plan design for the attainment of organziaitonal
marketing objective.
Consumer:
Anyanwu (1993:112) define consumer as a person(s) who buy goods or uses
services of company.
New product:
Inyanya (1999:106) defined new product as the development and spread of new
ideas and product.
Research:
Anyanwu 91993:351) defined research as trying to discover things that may help
us to take informed decision and by so doing solve problems in marketing.
Product Line:
according to (Ama 2000) product line can be define as a group of products that
are closely related either because they satisfy a class of need, are used
together , sold to the some customer group, market through the type of outlet,
or full within given price range e.g star, Gulder etc .
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