ABSTRACT
This research
work is on role of marketing research, planning and development of a new
product, a case study of Nigeria Bottling Company Plc, Benin City. Marketing
research is not a substitute for management decision. It is a tool for making
better decision. This work starts with the introduction of the subject matter,
research questions, objectives, relevance of study, research problems and scope
of study. Secondly, interactive review of the subject matter was looked into.
Here, relevant textbooks, journals, magazines etc. were consulted. This was to
ensure that various options and knowledge of the experts and scholars were
examined to broaden the scope of the researchers’ knowledge on the use of
questionnaires and personal interview with customers and employers of the
organization under study. Finally, there were limitations that were encountered
and recommendation, suggestions were stated and this represents the view and
opinions of the researcher. If the recommendations made are consistently
implemented, it will go a long way to enhance the overall objectives of the
organization and academic exercise.
TABLE
OF CONTENT
Title
page
Certification
Dedication
Acknowledgement
Abstract
Table
of content
Chapter
One: Introduction
1.1 Background
to the Study
1.2 Statement
of Problem
1.3 Objective
of the Study
1.4 Research
Questions
1.5 Statement
of the Hypotheses
1.6 Scope
of the Study
1.7 Significance
of the Study
1.8 Limitation
of the Study
1.9 Operational
definition of Terms
Chapter
Two: Literature Review
2.1 Introduction
2.2 The
Review
2.2.1 Concept
of Marketing Research
2.2.2 Relevance
of Marketing Research on Product Planning
2.2.3 Product
Development Procedures
2.2.4 Challenges
of Marketing Research on Product Development
2.2.5 Dividends
of Marketing Research on Product Development
2.3 Summary
of the Review
Chapter
Three: Research Method
3.1 Introduction
3.2 Research
Design
3.3 Population
of Study
3.4 Sample
and Sampling Technique
3.5 Instrumentation
3.6 Method
of Data Collection
3.7 Method
of Data Analysis
Chapter Four: Data Presentation,
Analysis and Interpretation
4.1 Introduction
4.2 Data and Interpretation
4.3 Hypothesis Testing
4.4 Discussion of findings
Chapter
Five: Summary, Conclusion and Recommendations
5.1 Introduction
5.2 Summary of Findings
5.3 Conclusion
5.4 Recommendations
5.5 Suggestions for Further Research
Reference
Appendices
CHAPTER
ONE
INTRODUCTION
1.1
Background
to the study
One of the basic function of management is decision
making, marketing are particularly difficult to make and effect are fact
through the business with growing complexities on supplying individual needs for particular kinds of customers, it is however,
necessary that some kinds of organized study should be undertaken to identify
threats and opportunities.
As a result when the transition from seller market
to buyers make it become so necessary that producers would have to study their
market and make sure that their product satisfies the specific needs of
customers. Producers turn to formal research because they find it harder to predict
how buyers perception would be about certain characteristics of the product,
package, colouring, style and other features attributes.
Identification of customers entrails
some systematic investigation into the markets. These include current market or
new market area of potential interest.
This
is the role of marketing research which is the foundation of a sound marketing
policy.
Without reliable data, management
cannot be expected production and distribution of range of products involving a
long period of expensive development. It should be noted that most of these
researchers are done by wholesalers and retailers which involve forecasting
measurement of market potential and determination of other market
characteristics, market store analysis, sales analysis and product mix studies.
Marketing research is therefore not a
substitute for management decision; it is a building tool for better marketing
decision. But how impact is the marketing research process?
1.2
Statement
of the Problem
Fact
alone achieves nothing; they need to be used imaginatively and correctly to
produce good management decision which must then be well implemented. In most
cases, managers need to make decisions, specific situations and get enough
information.
Various schools of thought for example
are of the view that research play no reasonable role in the existence of any organization.
It is also believed that marketing research is a little better than an office
activity.
This research was carried out to
identify possible solutions to the problem of planning and development of new
product and the application of marketing mix, management, marketing research as
it relates to identifying new market opportunities, market research as used to
attending corporate objectives and the nature and problem affecting marketing
research in the country.
1.3
Objectives
of the Study
The
research aim is to examine the role of marketing research in the planning and
development of a new product in organization with special emphasis on Nigeria
Bottling Plc. The research also aims at identifying likely problems and making
recommendations.
The
specific objectives of the study are:
i.
To examine the role of marketing
research in the planning and development of a new product and the application
of marketing mix management.
ii.
To find out if marketing research is
useful at identifying new market opportunities in relation to planning and
development of a new product before introduction into the market.
iii.
The extent to which marketing research
is used at attending corporate objectives.
iv.
To examine people in terms of their
roles or buyer, seller and consumer.
1.4
Research
Questions
The
following research questions were formulated and focus in this research process.
i.
Is there any relationship between
marketing research as a fact finding process for successful marketing.
ii.
Is there a relationship between
marketing research used to examine people in terms of their role as buyers,
sellers and as consumers.
iii.
Is there a relationship between marketing
research that is necessary for the survival an organization.
iv.
Is there a relationship between
marketing research as a management tool for better decision making.
1.5
Statement
of Hypotheses
The hypotheses
developed are as follows:
Hypothesis I
Ho: There is no significant
relationship between marketing
research and successful marketing activities.
Hypothesis
II
Ho: There is no significant
relationship between market research and the roles of buyers, sellers and as
consumers.
Hypothesis
III
Ho: There is no significant
relationship between marketing research and the survival of an organization.
Hypothesis
IV
Ho: There is no significant
relationship between marketing research and its being used as a management tool
for better decision making.
1.6
Scope
of the Study
The
study will examine marketing research as an important instrument that aids
marketing decision, it will explain various concept that make up marketing
research and it impact in the modern business environment. The research will
have a wide grasp at the importance of marketing research in the planning and
development of a new product. It counters the negative impression about the
presence of research activities in a company.
It will also evaluate the performance
of marketing research of some selected organizations.
Basically, management uses research
information for all types of marketing decision.
For the purpose of this work, the
researcher attends to cover the new product marketing research areas. The
researcher will deal specifically on product research, sales consumer and
promotion research, the stud will examine these areas mentioned above to assist
organization in attaining marketing objectives identifying problems and market
opportunities and eventually taking better decision using Nigeria Bottling
Company as a case study.
1.7
Significance
of the Study
The
findings of the study shall be of benefit to the following.
i.
Nigeria Bottling Plc.
ii.
The management of other brewery
companies.
iii.
The management and student of Auchi
Polytechnic, Auchi.
iv.
The management of other organization
intending to develop new product.
v.
It will give the company an insight on
the need to identify and exploit certain marketing opportunities.
vi.
It could as well reveal the need for
more appropriate coordination of the marketing mix.
vii.
It will help the company to intensify
effort at engaging in research with areas where little or no attention has been
placed in terms of development of a new product.
viii.
The result of the findings could enable
the company make quantitative and qualitative marketing decision.
1.8
Limitations
of the Study
In
carrying out the research work, there were some difficulties encountered which
actually made the research work too tasking.
The
attitude of respondents posed great problem for the research in fact, the
organization respondent doubted the genuine intention of the use of information
sought. Some of the respondent were reluctant, being for busy to fill
questionnaires the experience from the respondents in addition, lack of proper orientation
on how to go experience on the study made the work quite complex and difficult.
Also, it should be observed that the
project work is consuming more than what was budgeted for time constraint was
another factor that posed a great limitation. The time allocated for this
project was being a partial fulfillment for Award of Higher National Diploma
(HND), the research has other academic classroom curst to attend.
Also, much time has been spent in the
course of trauching from Auchi to Benin to administer questionnaire and seek
interviews with the management and staffs Nigeria Bottling Plc and the consumer
of their product, finally, it must be noted that this study was limited to one
Company Nigeria Bottling Plc, which may not adequately represent the
performance of companies in Nigeria.
1.9 Operational Definition of Terms
The
following terms or concept will be used in the course of explaining the
research topic work.
i.
Market:
It can be defined as a place or avenue where buyers and sellers meet, goods and
services are offered for sale and transfer ownership occurs. It can also be
seen to consist of individual or organization who have the purchasing power.
(Money) and the desire to purchase product or service.
ii.
Marketing
America: marketing association(1960) defined marketing as
the performance of business activities that direct the flow of goods and
services from producer to consumer or user in order to satisfy customers.
iii.
Marketing
Concept: this is a management orientation that holds that
the key task of the organization is to determine the needs and want to target
markers and to adopt the organization to delivering the desired and efficiently
than its competitors.
iv.
Market
Information System: this is a set of procedures and methods for the
regular, planned, collection analysis and presentation of information for use
in making marketing decision.
v.
Research:
is a close and careful study or investigation in trying to find out new facts
or idea or way of improving on the existing fact about something.
vi.
Research
Design: this is simply the frame work or plan for which the
study that is used as guide in collecting of the data.
vii.
Primary
Data: these are data which are being collected for the first
time and specifically for the purpose of the investigation at hand (i.e. Data
in their raw form). This form data is the combination with observation
experiment.
viii.
Secondary
Data: these are already existing pieces of information
which are useful to specific surveys which are not usually gathered for
immediate study at hand, this form of data is sub-divided into the internal and
external source.
ix.
Questionnaire:
this is a formal list of question designed to gather response from customers on
a topic. They are the major instrument used in obtaining data from respondents,
through the survey approach.
x.
Field
Experiment: this is a direct face to face
conversation between a representative of the research organization, the
interviewer and respondent or interview a representation of the research
organization, interviewer and a respondent or the interviewee.
xi.
Test
Marketing: this involves the actual marketing of
their product appropriate target consumers and getting their reaction. It is
the ultimate form of testing a new consumer product in a situation resembling
the one that would be faced in a full scale launching of the product.
xii.
Marketing
Mix:
it is the term that is use to describe the combination of the four inputs that
constitute the core of a company’s marketing the product, i.e. the product, the
price structure, the promotional activities and the distribution system(place).
xiii.
Sample:
this occurs when a number of sampling unit is drawn from a population which is
to be sampled.
xiv.
Sampling:
this is the part of marketing research which lays down the specification for
the selection of individual who will be asked to apply certain required data.
It involves the study in considerable detail of relatively small number of
information taken for larger groups.
xv.
Sampling
Unit: this refers to an individual element of the
population which is to be sampled.
xvi.
Random
Sampling: this is simply the frame work or plan for which
there is a known chance of each unit to be selected.
xvii.
Population
(universe): this refers to any group of people who
are similar in one or more ways and which form the subject of study in a
particular survey.
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