THE IMPACT OF NEW PRODUCT DEVELOPMENT ON ORGANIZATIONAL PERFORMANCE
(A CASE STUDY OF CADBURY NIGERIA
PLC)
RESEARCH PROJECT
WRITTEN BY
YOUR NAME
MATRICULATION NO.
SUBMITTED TO
FACULTY OF MANAGEMENT SCIENCES,
IN PARTIAL FULFILMENT OF THE
REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE (B.SC.) DEGREE IN BUSINESS
ADMINISTRATION, ….. UNIVERSITY.
DATE......
ABSTRACT
This is an 81
page project that focused on the Impact of New Product Development on Organizational
Performance, A Case Study of Cadbury Nigeria Plc. Product that an organization
offers is the basic reason why the organization is in business. Where these
products do not meet the desires and needs of the consumers, the firm is bound
to fail unless necessary adjustment measures are taken. A product is everything
both favourable and unfavourable that one receives in an exchange. According to
Achumba (2000) product is a complexity of tangible and intangible attributes
including functional, social and psychological utilities or benefits. Kotler
and Armstrong (1996) defined a product as anything that attracts attention,
acquisition, use, or consumption and that might satisfy a want or a need. These
definitions confirm the assertion that products include more than just tangible
goods. Broadly definded, products include physical objects, services, persons,
ideas, places, organizations or mixes of these entities, This project examined
how new product development programmes can contribute towards organization development.
The Objective of this study include the following:- To highlight the impacts of
New Product Development on organizational performance. To highlight various new
product development strategies open to Nigerian Managers to achieve
organizational success. To determine which of the new product development
strategies that Nigerian managers use in their organizations to achieve their
marketing objectives. To highlight ways that new product development programmes
can be made to be more effective. To identify various problems that confront
Nigerian Managers in implementing effective new product development programmes.
Some research questions considered in this study were:- What
are the impacts of new product
development on organizational performance? What are the
various new product development
strategies that are open to Nigerian Managers to achieve organizational success? Which of the
new product development strategies that are mostly used by
Nigerian Managers in their
organizations to achieve their marketing objectives? In what
way(s) can new product
development programmes be made more effective? What are the
various problems confronting
Nigerian Managers in implementing effective new product
development programmes? Some
research hypotheses that were examined include:- : New
product development decreases
organizational performance; Effective research and
development programmes do not enhance
organization’s product quality; Firms that offer high quality
products in the market are not
more profitable than firms that do not. Some findings of this
study were that; New product
development programmes increases corporate
viability and profitability. The products that an organization offers
for sale in the market place are a major source of competitive advantage to the
organization. New product development is a life blood of the organization. The
product that an organization offers for sale is a key determinant to corporate
viability and success. The success or otherwise of an organization in the market
is tied to the type of product it offers for sale
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Contemporary
marketing calls for more than developing a good product or service, pricing it
adequately, and making it available to the target customers or clients.
Organizations should also promote their goods and services to present and
potential customers.
The Elements of
marketing promotions mix include the following:- Advertising, Sales Promotion,
Personal Selling, Public Relations and Publicity. The combination of these
marketing promotions elements is called Promotional Mix. In their various ways,
these elements are involved in communicating information to customers, clients
or potential users about goods and services on offer. Their fundamental aim is
to prompt customers, clients or potential users to take positive action by
placing orders, making enquiries, and purchasing on a continuous basis.
The consumer
before he makes his purchase decision passes through the following stages:
Awareness, Interest, Desire and Action or what we popularly refer to as the
AIDA (Attention, Interest, Desire and Action) process of making a purchase. At
each step in the purchase decision, the probability that a purchase will result
is enhanced through the use of efficient and effective marketing promotions,
and ending ultimately in the purchase of the goods or service being promoted.
Marketing
Promotion is the art of transmitting information for marketing purposes. It is
the process of establishing communication relationship. Under marketing
communications, an organization would be aiming at a deliberately
differentiated audience for a commercial purpose, and would employ such means
of communication as advertising, personal selling, sales promotion, public
relations and publicity.
According to
Achumba (2000) a marketing promotion strategy is concerned with the role to be
played by each of the promotional mix elements towards effective and efficient
dissemination of information to customers, clients or potential users. As
Achumba further noted, the suitability of any particular promotional mix is a
function of such factors as the type of product or service (i.e. industrial or
consumer), the age of the product (i.e. the time for which the product/service
has been in the market and its sophistication as compared to competing
products/services), and the contribution which it is felt that the other
marketing variables can make to the demand-influencing process.
The underlying
emphasis and consideration for management is to know the extent to which
advertising, personal selling, sales promotion, public relations and publicity
will help in achieving the objectives of the marketing promotions programme.
Aspects to consider include the objectives of the marketing promotions
programme, the budget allocation for it, and the means and tools for
disseminating information to customers or clients.
1.2 Statement of Problem
Most
organizations, including Cadbury Nigeria Plc has failed to realize the vital
roles that marketing promotions can play towards organizational success. They
failed to implement effective promotional programmes and strategies that will
offer competitive advantage towards their brands and therefore enable consumers
have brand preference for their products which is hard to overcome by other
competitors.
In most cases,
promotional programmes are. not given their right places. Promotional
programmes are not usually being handled by experts. Also, in most instances,
promotional programmes are not properly planned and executed. The promotional
budgets are just conceived and dished out without mapping out appropriate
strategies for its implementation and execution tailored towards achieving
organizational success.
Advertising
programmes are usually targeted at the mass audience instead of focusing on a
little market segment. Advertising, sales promotional, publicity and public
relations programmes’ objectives are not properly stated. In several instances,
the advertising themes are not appropriately conceived. Wrong media for
communicating the promotional messages are often been selected. In most cases,
there is usually wrong timing of advertisement messages. The sales personnel
are often not well trained to carry out their personal selling functions
effectively.
The overall
consequence of all these anomalies is that promotional objectives in most cases
are never realized.
1.3 The Purpose of the Stud
It is against
this backdrop that the study set out to
- determine the impacts of Promotion on organizational performance,
- determine whether advertising improve corporate and brand images.
- ascertain which of the promotional strategies that Nigerian managers use in their organizations to achieve their marketing objectives,
- examine ways by which promotional programmes can be made more effective,
- identify various problems that confront Nigerian Managers in implementing effective promotional programme,
1.4. Research Questions
The following
questions were asked in this study:-
- What are the impacts of promotion on organizational performance?
- What are the various promotional strategies that are open to Nigerian Managers to achieve organizational success?
- Which of the promotional strategies that are mostly used by Nigerian Managers in their organizations to achieve their marketing objectives?
- In what way(s) can promotional programmes be made more effective?
- What are the various problems confronting Nigerian Managers in implementing effective promotional programmes?
1.5. Research Hypotheses
1. H0: Marketing promotion
decreases organizational profitability.
H1
Marketing promotion increases
organizational profitability.
2. H0: Advertising does not
improve corporate and brand images.
H1: Advertising improves
corporate and brand images.
3. H0:
Involvement of experts in promotional programmes does not enhance the
achievement of promotional objectives.
H1:
: Involvement of experts in promotional programmes do enhance the achievement
of promotional objectives.
4. H0:
Personal Selling is not more precise in making sales than other promotional mix
elements
H1:
Personal Selling is more precise in making sales than other promotional mix
elements,
1.6. Significance of Study
Corporate Promotional strategies is among the strategies
adopted by organizations to improve
on their revenue generation and profitability. Promotional
programs when successful shall help
organizations to have easy in roads into the market place and
therefore be able to achieve their
marketing objectives. The significance of this study can be
seen by examining the various
contributions that this study shall make to the users of the
information of this study which
include the organization that is being used as the case study
of this work. This study shall
provide reference point to students, marketers and researchers
who are seeking avenues to
improve their marketing promotional programmes. The findings
of this study shall be hosted
on the internet and kept in the Library to make them
accessible to other users. It is hoped that
both the organization that was used as the case study of this
study and the larger society
shall benefit immensely from this work.
1.7 Limitation of Study
The following limitations were encountered
in the course of this study:-
·
There was also a time constraint as the
researcher has to combine this project work with her school work.
·
Funds to carry out this study were in short
supply.
·
Furthermore, there were some of the
respondents that were un co-operating irrespective of efforts that the
researcher made to convince them and to get their support in obtaining
information needed for this study.
·
The resource materials personnel and computer
needed for data processing were also not available. Consequently, the
researcher resort to using calculator and the manual process of data analysis.
1.8 Scope of the Study
This study focused on the Impact of Promotion on
Organizational
Performance – A Case study of Cadbury Nig Plc. This study
investigated on the impact of Promotion on Organizational
Performance.
1.9 Definition of
Terms
Advertising: To make known to the public, to stress
the good points of a product with the aim of selling the products.
Billboards: Billboards are large structures located in
public places which display advertisements
to passing pedestrians and motorists
Celebrity branding This is type of
advertising that focuses upon using celebrity power, fame, and money,
popularity to gain recognition for their products and promote specific stores
or products.
Coupons: A piece of paper which
may be exchanged for goods or money
Guerrilla marketing A recent advertising innovation is "guerrilla marketing",
which involve unusual approaches such as staged encounters in public places,
giveaways of products such as cars
that are covered with brand messages, and interactive advertising where the
viewer can respond to become part of the advertising message
Informercials: An infomercial is a long-format television
commercial, typically five minutes or longer. The word infomercial" combining the words "information"
& "commercial”. Infomercials
describe, display, and often demonstrate products and their features, and
commonly have testimonials from consumers and industry professionals.
Mass Media: Means of communication
information to a large number of people
Niche Marketing: These advertisements are
targeted to a specific group and can be viewed by anyone wishing to find out
more about a particular business or practice at any time, right from their
home.
Personal
Selling: Personal
Selling is a face-to-face oral presentation of information about products and
service in a conversation with one or more buyers for the purpose of making
sells.
Persuasion: The act of bringing
someone to do or think something by arguing with them or by advising them.
Promotion: Advertising, or an
effort to publicize and increase sales of a particular brand.
Publicity: Is an unpaid
form of promotion appearing in the mass media. It is a non personal form of
promotion which may take the form of favourable news presentation for a product
or an organization
Public
Relations: Is
the deliberate, planned and sustained effort to establish and maintain mutual
understanding between an organization and its publics.
Sales
Promotion: Sales promotions are those
marketing activities, other than personal selling, advertising, and publicity
that stimulate consumer purchasing and dealer effectiveness. Sales
promotions include things like contests and games, sweepstakes, demonstrations,
shows and expositions, product giveaways, samples coupons, loyalty programs,
and discounts.
Social Network
Advertising: This is online advertising with a focus on social networking
sites.
Sweepstakes: A gambling system in
which those who take part stake money which goes to the holder of the winning
ticket
REFERENCES
1. Adedayo A.
(1998) Understanding Statistics,
Lagos: Jas Publishers, Pages 265-269
2. Asika N. (2004) Research Methodology – A Process Approach, Lagos:
Mukugamu and Brothers Enterprises, Pages 129-134
3. Fagbohungbe O. (2002), Research Methods For Nigerian Tertiary Institutions.
Lagos: Kotleb Publishers
The complete part of this project is available for sale
PROJECT PROPERTIES
|
Project Status
|
Available
|
|
Number of Chapters
|
5
|
|
Number of Pages
|
64
|
|
Number of Words
|
14,126
|
|
Number of
References
|
11
|
|
Project Level
|
B.Sc.
|
|
Price
|
N10,000
(Non-Negotiable)
|
|
Abstract, Sample of
Questionnaire are included
|
|
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