ABSTRACT
This research work touches on new product planning and development
strategies in a brewery industry, with a particular reference to Extra smooth,
a product of Guiness Nigeria Plc, Benin. The problem of increase in new product
failure, bedeviling manufacturers. Based on this problem, the objectives was to
find out the reasons behind new product failure. Relevant research questions
and hypothesis were formulated with a view of providing shape focus for the
study. The method of investigation are oral interview and questionnaire design,
hypothesis were tested using chi-square statistical tool. The major finding was
that, employer’s poor performance was responsible for product failure in the
brewery industry. Based on the findings, it was concluded that the company
should take product planning and development strategies seriously, because
their survival rest on efficient implementation of continuous product
development. The recommendation made in this study, was that the company should
run market-driven employees or train existing workforce towards understanding
the importance of product planning development in the modern business practice.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Given
the rapid changes in consumer tastes, technology and competition, companies must
develop a steady stream of new products to satisfy this wants and needs of the consumer,
however, this product are vulnerable to change to consumer needs, new
technology, short life cycle, increase domestic and foreign competition and new
technologies seems to be the most threatening.
New products are
essential to the success of any company that fails to develop new products is
exposed to great risk. this risk may come in form of competition, change in
consumer taste and technology.
To succeed every
company must develop new products, new products are developed to replace
out-dated ones. these new products falls into three categories which are:
products that are truly innovative, products that may be considered replacement
for existing products, but which are significantly different from existing
product and product that are new to a particular company.
However, this new
products continue to fail at a very disturbing rate example is “satzenbrau”.
This failure might be due to overestimated market size, ill design products,
incorrect positioning products, product not advertise effectively, failure to
gain distribution cost and competitions counter attack and so on. All these
failure rates have rekindle the anxiousness of companies to improve their odds
of new products one way is to identify successful product and find out what
they have in common. Another is to study new product failures to see what to be
learnt and yet another is to embark on continuous replacement of existing
product. (brands).
Various studies suggest
that new product success depends on developing a unique superior products; one
with higher quality new feature and higher value, another is a well defined
product concept prior to development in which the company carefully assess the
market product if they must stay in bussiness but the odd weight heavily
against their success thus the solution lies in setting up a systematic product
planning and development strategy and this is what the researcher tends to
highlight using of Guinness Nigeria Plc as a case study.
1.2 STATEMENT OF PROBLEM
Due
to acute competition in the breweries in industry, brewery firms have renewed
their interest in marketing by focusing on the production of what it can sell
rather than what it can make. The problem to be address in this research is to
examine high rate of product failure in the market that is bedeviling
manufacturing organization.
1.3 OBJECTIVES OF THE STUDY
The
specific objectives are:
1. To
determine the role of an effective product planning and development
strategy in an organization
2. To
highlight the problems which management is likely to encounter in carrying out
product planning and development
3. To
highlight and examine the product planning
and development strategies in Guiness Nigeria Plc
4. To
ascertain the involvement of employees in product planning and development
5. To
find the reason behind product failure
6. To
generate data that will serve as a basis for making future and effective
planning and development on new products
1.4 RESEARCH QUESTIONS
The
following research questions are derived from the objectives.
1. Are
there derivations from plans when developing a new product in the company?
2. Do
the present development in implementation of product planning adequate?
3. Can
product efficiency be enhanced through effective planning and development?
4. Are
consumers choice and market research carried out to determine potential market
demand?
5. Is
there significant relationship between commercialization and product failure?
6. To
what extent has the company’s research and development effort contributed to
the effieciency?
7. Are
workers involved in the planning and development process in the brewery?
1.5 RESEARCH HYPOTHESES
Hypotheses
I
H0
: There is no significant relationship between
employers poor performance and product failure.
H1
: There is significant relationship between employers
poor performance and product failure.
Hypotheses
II
H0:
There is no significant relationship between commercialization and product
failure.
H1:
There is significant relationship between commercialization and product
failure.
1.6 SIGNIFICANT OF THE
STUDY
The result emanating from this research work will be useful to the
following: investors, Guinness Nigeria Plc, the research and the student of
Business Administration Department.
1. the investments will recognize the
importance of product planning and development strategy, if they are contemplating on going into production sector.
2. the research work is designed to aid those
organization that still need enlightenment on what to be designed in trying to
engage in production of good s and compelled to produce quality goods for sell.
Since product planning and
development strategy is the major function of manufacturing organization it is
relevant therefore to undertake such study since they constitute the main
objective which is the production of quality good, the survival of the business
rest on efficient implementation of product planning and development.
3. finally,
the study will serve as a source of information for researchers and students of
business administration who will like to conduct research in similar area of
study.
1.7 THE SCOPE OF STUDY
This research work is directed to the study of product planning and
development strategies in a brewery industry. This topic will be trailed down
to Guinness Nigeria Plc, Benin Ikpoba Hill, Benin City.
1.8 LIMITATION OF THE STUDY
Factors that militate against the research work involves:
1. Time
Constraint: this study is expected to be completed within a reasonable time and
this creates a problem of its own.
2. Financial
Constraint: This topic is a very wide survey, the researcher would have love to
increase the scope of the study but inadequate finance limits the scope of
Guinness Plc Benin Branch.
3. Health:
The researcher undergo a lot of stress in other to source information relevant
to the study and it affect the health of the researcher.
4. Distance:
The researcher is faced with distance problem, because the study of interest is
not within the area of the researcher.
1.9 DEFINITIONS OF TERMS:
Products:
It is anything that can be offered to a market for attention, acquisition,
usage or consumption that might satisfy a want or need includes physical
objects services, persons, organization and ideas.
New
Product: A good service or product that is perceived by some
customers as new.
Product
Planning; This embraces all activities that enables a
company to determine what products it will market.
Product
Concept: The idea that consumers will favour products that
offers the most quality, performance and feature.
Product
Ideas: An idea for a possible product that the company can
see itself offering to the market
Product
Image: The way consumers
perceive an actual or potential products
Product
Line:
A group of products that are closely related, because they function in similar
manner, and are sold to the same customer group
are marketed through the same types of outlets of falls within the given
price range.
Product
Development: A strategy for company growth by offering modified or new products to current market
segment, Developing the production in
order to ensure that the product idea can be formed into workable product.
New
Product Development: The development of original products,
improvement, produces modifications and new brand through the firm’s own
research and development effort.
Strategy:
A comprehensive description of an organization master plan for achieving
objectives and purpose.
REFERENCES
Agbonifoh, B.A Ogwo, E.,Nnolim D.A. and Ekaette P.P (1998),
Marketing in Nigerian Concepts, Principal Decision, Aba:Afrotowers Publishers
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