ASSESSMENT OF THE IMPACT OF MARKETING RESEARCH ON NEW PRODUCT DEVELOPMENT


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TABLE OF CONTENTS
Abstract
Table of contents

CHAPTER ONE: INTRODUCTION
1.1       Background to the Study
1.2       Statement of the Problem
1.3       Objectives of the Study
1.4       Significance of the Study
1.5       Scope of the Study
1.6       Limitation of the Study
1.7       Definition of Terms

CHAPTER TWO: LITERATURE REVIEW
2.1       Introduction
2.2       Theoretical Frame Work
2.3       Concept of Marketing
2.4       Research in Marketing
2.5       Types of Marketing
2.6       Roles of Marketing Research
2.7       Uses of Marketing Research
2.8       Concept of Product Development
2.9       Need for Product Development
2.10     Stages of Product Development
2.11     Review of Related Studies
2.12     Summary

CHAPTER THREE: RESEARCH METHODOLOGY
3.1       Introduction
3.2       Research Design
3.3       Population of the Study
3.4       Sampling Techniques and Sampling Size
3.5       Method of Data Collection
3.6       Method of Data Analysis
3.7       Research Instruments
3.8       Justification of Methods Used

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1       Introduction
4.2       Data Presentation and Analysis
4.3       Test of Hypothesis
4.4       Findings

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1       Introduction
5.2       Summary
5.3       Conclusion
5.4       Recommendation
            Bibliography
            Appendix



Abstract


Due to the economic condition of Nigerian society, firms undertaking new product development are faced with an environment which is characterised by long lead times from basic research to industrial application, a commercialisation phase with short lead times and an increasingly accelerated rate of obsolescence under the global competition of the new product development process. Marketing problems are numerous and inevitable as most products are not doing well to satisfy the consumers, as a result of poor marketing research to improve the quality of the product. The basic objective is to address the importance of marketing research on new product development and also examine the circumstances under which marketing research can likely be used in the stage of new product development and its impact on profitability. The questionnaire and interview methods were used to collect data for presentation and analysis. The simple percentage justified the entire findings and the statistical techniques of chi-square explicitly show that market research is pivotal tool for new product development and management decision. The entire findings of the study shows that in an attempt to evaluate the use of marketing assessment on new product, the entire area of the study needs a proficient market research development, more budgetary allocation is needed to propel marketing research to boost new product. And the finding of this study is that company organizational structures of market reveal lack of marketing research department of its own and budgetary allocation to marketing research is inadequate. The recommendation clearly stated that companies should take note of the type of research approach to use at the stage which is concerned with comparing the concepts with or against existing market of the competitor. Companies believe that NPD is their life blood; it can be the better way to survive firmly and be more competitive. In addition, the strategy of how to manage NPD process effectively and efficiently is becoming a powerful way of achieving a competitive edge.




CHAPTER ONE

INTRODUCTION

1.1             Background to the Study

Today‟s  world  is  characterized  by  major  changes  in  market  and  economic

conditions, coupled with rapid advances in technologies. Companies invest in marketing research on New Product Development (NPD) to ensure future success in the market. However, most marketing research on new products development are often more likely to fail than to succeed, addressing changing tastes with new products is essential in maintaining customer loyalty, so that good NPD becomes a key factor in competitiveness. New products development can succeed if company change the way they do marketing research. (Hollingsworth 1996, and Jeffery 1998) recommended that NPD strategies and process should change to follow changes in market and technology.

It is widely recognized that effective new product development (NPD) processes are causally important in generating long-term firm success (Cooper, 1993; Ulrich and Eppinger, 1995; Wheelwright and Clark, 1995). They can lead to a core competence that either differentiates a firm from its competitors (Prahalad and Hamel, 1990) or provides a threshold competency that is necessary just to survive in fast-changing and innovative industry sectors. Given the importance and value of NPD to firm performance, researchers have developed descriptive frameworks based on linear, recursive, and chaotic system perspectives, which provide different insights and descriptive theories about NPD process structure and behavior. These are then often the basis for normative research, which seeks to predict and prescribe causality in NPD processes (Griffin, 1997)......


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