Problems And Prospect Of New Product Development In A Competitive Market Environment

Download complete project materials on Problems And Prospect Of New Product Development In A Competitive Market Environment  from  chapter one to five with references

Production like human being have life cycle. They are faced with challenges in different stages of their life cycle right from growth stage. Competitors are attracted to produce similar products at this stage and find better or cost reduced technology to produce. The however, posses a threat to firm products, this necessitate firm to a proactive, the process of developing new product in a competitive market often critical to the long run business success.

TABLE OF CONTENT

Title Page

Certification

Dedication

Acknowledgement

Table of contents

CHAPTER ONE

1.1introduction

1.2statement of problems

1.3aims and objective of the study

1.4 significance of the study

1.5scope of the study

1.6limitation and constraints of the study

2.0 CHAPTER TWO: LITERATURE REVIEW

2.1 The concept of new product development NPD

2.2 The process of new product development NPD

2.3 The rationale of NDP

2.4 Problem of associated with NPD

2.5 Benefits new product development

2.6 Uses of NPD

2.7 The characteristic of competitive market environment

CHAPTER THREE: Research Methodology

3.1 Research population and sample

3.2 method of data collection

3.3 data collection instrument

3.4 administration of instrument

3.5 method of data analysis

CHAPTER FOUR

4.0 data presentation

4.1 rationale for developing the NPS

4.2 objectives of developing the NPS

4.3 problems encountered in the process of developing NPS product GSDC

4.4 benefit of the new product to the company

CHAPTER FIVE

5.0 summaries of findings

5.1conclusion

5.2 recommendations

References

CHAPTER ONE

1.1      INTRODUCTION: BACKGROUND OF THE STUDY

Companies that fail to develop new products are putting themselves at greater risk. Their existing products are vulnerable to changing customer  needs and taste, new technology, shortened product life cycles, and increase domestic and foreign competition. New technologies are specially threatening most establishment focus on incremental innovation. Never companies create disruption technologies that are cheaper and more likely to alter the competitive stage. Established companies are show to react or invest in these disruption or descriptive to technologies because they threaten their investment. Then they suddenly  find themselves facing formidable new competitors and may fails.

Not all new product are successful this is because poor environment analysis are poses a great problem for a new product development in competitive market I.Q. competitive reaction political and legal system are one of the problem of new product development. However poor marketing research can affect new product development because proper marketing research will affect to identify the need of the target market, due to this point, product development especially new product in a very competitive environment may face the problem right from the idea generation. This is worth to be study because the believes of customers are on hot all new product and likely to produce with a good standard, with this, it is a problem for a new product to be easily accepted by the target market.

1.2 STATEMENT OF THE PROBLEM

The idea of developing a new product often constitutes majors problem to any engage in production activities

The problems are:

• – do we have adequate raw materials for the new product?

• – What is going to be reaction of the competitive against the new product?

• – How are you going to cope with poor environment variable?

• – What are the benefits to believe from the new product development?

• – Social and government constraints.

1.3  AIMS AND OBJECTIVES OF THE STUDY

This study is aimed at analyzing evaluating problems and prospect of new product development in a competitive market environment and explained the important factors that affect new product development.

• THE OBJECTIVE OF THE STUDY

• – To know why the company embarked on new product of coke-cola and mountain dew products.

• – To know the benefits that industrial customer and the society at large derive from new products.

• – To know whether the price of new products coke-cola and mountain dew are competing favorable with other soft drink and mountain dew in the market.

• – To identify what its entails to develop coke-cola and dentol clean.

1.4   SIGNIFICANCE OF THE STUDY: The study will be of assistance in developing the good image of the company (bottling company) and the increase their profit when the product is accepted by the target. The significant of problem and prospect of new product development n competitive environment  to marketing is that is allows effective use of communication network like sale promotions advertisement, public relation and publicity which is one of the marketing tools to achieve effectiveness and efficiency.

To society, the new product development will provide the society an employment because by introducing new product. It will need more workers which the society. The study important to the writers it will requirement for the award of ND.

1.5 SCOPE OF THE STUDY The conceptual scopes of the study cover the Nigeria bottling company (7up Bottling Company). The research worker focuses the effectiveness of promotion strategy on sales and profit on Nigeria industries especially soft drink producing company using 7up bottling company.

1.6 LIMITATION AND CONSTRAINT OF THE STUDY This research project is limited to new product developed problem and prospect of new product development of Nigeria bottling company plc, the gathering of data is mainly from management and sale department and the use of this study will be limited a bit, by the fact that data to be collected might not be complete enough because research was not allowed to look into the records.

Moreover, the limitation to this study is the extend to response and co-oporations of the respondent to some of the question. Interviews are some staff of the company do not yield much front. Their regarded those data sought from them as “confidential” and would not be released for research studies. Despite the assurance by the researcher that all data supplied by them were for academic purpose and would be keep intact.

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