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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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