Impact Of New Product Development In A Co-Operate Profitability (A Case Study Of 7Up Bottling Company, Ijora, Lagos)

Impact Of New Product Development In A Co-Operate Profitability (A Case Study Of 7Up Bottling Company, Ijora, Lagos)
Proposal
The research study amongst other things aimed at studying and evaluating how impact of new product enterprise and individual or group establishment will bring about efficiency and economic development in Nigeria with particular reference to (a case study of 7up Bottling Company, Ijora, Lagos) The analysis of response will enabled us to know the research findings that impact of new product development in a co-operate profitability is a critical factor for the economic growth and development and also that impact of new product development in a co-operate profitability can lead to effective working performance of any employee.
Chapter one discuss the introduction, the statement of problem the purpose of study significant of the study, scope of study limitation of study, the plan of study and lastly the definition of the terms used.
Chapter two deal with literature reviews the concept of impact of new product development in a co-operate profitability the benefit of impact of new product development.
Chapter three deals with structural composition analyse that firstly the introduction the impact of new product development in profitability. In Nigeria the impact of new product development in a co-operate profitability contribution on the state infrastructure, the product development in a co-operate profitability in Nigeria. The impact of new product development in a co-operate profitability relation to capital market, employment expectation and competition the argument for and against impact of new product development in a – co-operate profitability, the contribution of impact of new product development of telecommunication in Nigeria.
The impact of new product development in a co-operate profitability biding for (a case study of 7up bottling company, Ijora, Lagos). The economic implication of the impact of new product development in a co-operate profitability (a case study of 7up bottling company, Ijora, Lagos).
Chapter four discusses on data analysis and interpretation the research design also is the method of data collection the questionnaire administration and the hypothesis test.
Chapter five contains the summary of area study the conclusion and finally the recommendation.
Table of Contents
- Title page
- Certification
- Dedication
- Acknowledgment
- Proposal
- Table of contents
Chapter one
1.0 Introduction
- 1.1 Background of the study
- 1.2 Objectives of the study
- 1.3 Significance of the study
- 1.4 Research question
- 1.5 Research hypothesis
- 1.6 Scope of the study
- 1.7 Limitations of the study
- 1.8 Historical of background of the case study
- 1.9 Plan of the study
- 1.10 Definition of terms
Chapter Two:
2.0 Literature Review
- 2.1 New product management
- 2.2 The answer to the successful new product introduction
- 2.3 Theory of innovation diffusion and adoption
- 2.4 Stage of product life cycle
- 2.5 Marketing strategies in the introduction stage
- 2.6 Meaning of profitability
- 2.7 Types of profitability
Chapter Three:
3.0 Research Methodology
- 3.1 Instrument used in data collection
- 3.2 Population of the study
- 3.3 Sample and sampling procedure
- 3.4 Data collection instrument
Chapter Four
4.0 Data Presentation Analysis and Interpretation
- 4.1 Introduction
- 4.2 Data presentation
- 4.3 Data analysis and interpretation
- 4.4 Test of Hypothesis
- 4.5 Result of Hypothesis
Chapter Five
5.0 Summary, Conclusion and Recommendation
- 5.1 Summary of findings
- 5.2 Conclusion
- 5.3 Recommendation
- Bibliography
- Appendix
Chapter One
Introduction
1.1 Background of the Study
The cause if the failure of many companies today is because they do not recognize that tomorrow may not be like today. They fail to replace their old existing products with new ones in lines with the taste and fashion of the consumers. Like human being products also pass through different stages in their life cycle. We have the introductory, growth, maturity and the decline stage.
It is the declining stage that brings about the need for new product development. Therefore, it is the function of product department to ensure that the life of the companys product is prolonged in the market.
As a topic, impact of new product development on co-operate profitability is one of the tools at the disposal of a product to increases the profit of organization, and comprises of features. Such as branding and packaging.
Since every business organization existence depends on the success of its product. Therefore the positive effect of new product development cannot be over emphasized. This is because new product development helps the company to meet the need of the consumer at a profit. Innovation of new ideas also aids remarketing strategies to a great extent.
Product development strategies may however be either proactive (lending) or reactive (following). The success of new production development will depend on having an effective sources of new ideas and innovations which can be incorporated as a unique selling purpose.
This unique selling proposition must be relevant to the characteristics of market segment on which product is targeted and most effectively differentiate the product from that of others so as to give it purchasing approach.
1.2 Objectives of the Study
The objective of the study is to focus attention on the new product development in a co-operate profitability using 7up Bottling Company of Nigeria Plc, Ijora, as the case study to know from the company’s experience whether the development of new product work out solely to achieve the company’s aim and objectives.
Therefore at the end of this work, we should be able to arrive at the following conclusion. Understanding what new production development comprise
i.e.
- Meaning of new product development.
- Sources of new production development idea.
- Strategies new production development
- Process of new production development
- Effect of new product development in a co-operate profitability.
- Advantages of new product development
- Obstacles and suggested solution of new product development.
1.3 Significance of the Study
The importance of this research is to find out relative benefits consumers and company (7up) will benefit from newly introduced product such as 50cl popularly called “OROBO”.
Also this study will broaden our knowledge about the need for new product development in a co-operate profitability.
1.4 Research Question
- Does obsolescence of any product bring negative effect on the company?
- What are the effects of the new product development on sales?
- What method should be adopted in pursuit of internal new product development operation?
1.4 Research Hypothesis
The following are the hypothesis to tested in the course of this research work. Null hypothesis (Ho) and alternative hypothesis (Hi).
- Ho: Null hypothesis there is no significant difference in new product development and high sales turnover. This means the product will be effective in the market.
- Hi: Alternative hypothesis. There is a significant difference between the new product development and high sales turn over which means that the product will not be effective in the market.
1.6 Scope of the Study
This project covers the important points of the impact of new product development in co-operate profitability of manufacturing company.
To know the consumer attitude towards a new comprises and what are the features it also helps to explain how product development helps in increasing the firm profit with appropriate market and marketing tools implementation. If all the stage are properly planned and developed, the product will. Succeed, but if otherwise it will fail.
Basically, reference will be made to 7up 7up Bottling Company of Nigeria Plc, Ijora, Lagos. Effort will be made to understand the objectives the company and the management effort has also been made to find out the obstacles or problem the new product suggested solutions.
1.6 Limitation of the Study
Since no human effort directed towards achieving a goal goes without strains difficulties or obstacles many problems were encounter in the course of writing this project which has served as a limitations factors for the completion of the work such as:
- Time constraint
- Financial constraint
Time Constraints
Time project was given a limited period under which its be approved completed and submitted. As a result of that the project could no be written into its maximum level.
Financial Constraint
For a comprehensive and a detailed research work, there is need for reliable source of finance for running around in seeking information. Lack of financial source of this project work. Posed a lot of problems especially high cost of stationery and printing materials and transportation fare of fetching information from far instance.
1.7 Historical Background of the Case Study
Historical background of case study of 7up Bottling Company, Ijora, Lagos recruitment for quality control 247 Moshood Abiola Way Ijora… be required to show that they have a recognized history in the and lessons leant prepare case studies for publication.
July 5, 2011 I still believe that although what you learn via oral history may not but did fight one another as in the case of Bini and Lagos on the main roan behind the 7up Bottling Plant in Ijora.
In most cases the companies will ask you to seven up 7up Bottling Company, Nigeria Bottling Company Plc (NBC) Moshood Abiola Way, Ijora, started business in 1960 with 7up brand only.
(PDF) ANAN JANUARY MARCH 2011 the study investigates information and communication technology 250 Herbert Macaulay Street PMB 10110, Yaba, Lagos, each moment in history is a fleeting time 7up bottling company.
April 30, 2012 conceptualize how the company’s product and capabilities match the job profile should send their CV with the following vacancy exists in Lagos center company 7up bottling company Plc Career.
February 24, 2012 have work history of at least 3 years in the UN system is desirable. To apply sales representatives (based in Lagos).
1.6 Concealed of Relevant Data
Among the difficulties faced in writing this project is the reluctance of the company’s executives to release the relevant data of the company for easy completion of the project for easy completion of the project.
So in relation to the aforementioned problems which in turn have serve as a limitations to the writing of this project, the anticipated data needed by the researcher were not obtained.
However the researcher were not obtained however the researcher made optimum and judicious use of available information for the success of this project and the presentations is done with much simplicity for easy comprehension of the interested parties.
1.8 Definition of Terms and Concepts
The following are the same of the commonly used terms and concepts which referring to new product development.
Product
Product may be defined as a bundle of physical psychological satisfaction that a buyer receives from purchase. It includes not only the tangible object but also such supportive elements as packaging conveniences of purchase, post sales service and other that buyers value.
New Product
New product is anything that is perceived to be new by customer. It may be original product. Product improvement product modification and new brands that the company brings into existence through its research and development.
Core Product
Core product refers to the actual purpose of purchasing a product i.e. consumers but product because they derive from the product.
Tangible Product
This is the physical attributes of the product which includes branding, packaging, styling etc.
Angumental Product
Angumental product service or benefit attached to a product i.e. after sales services free delivery credit facilities etc.
Brand
This is a distinctive elements, name, term, sign, symbol, sound, decision or combination of them which is to identify the goods or services of a seller and to differentiate them from those of the competitors (Williams Stanton 1981).
Advertisement
This is non personal presentation and promotion of ideas goods or services by an identifying sponsor (William Stanton 1981).
Product Lifestyle
The product lifecycle is an attempt to recognize different stages in sales history of a product (Philip Kotler 1994).
Product Design
This is a product distinctiveness (Philip Kotlers).
Profit
Profit is the gain or financial reward acquired to the owner of a business after the cost and other expenses incurred in production of goods and services produced by the business organization have been deducted from the total revenue (Philip Kotler 1994),
Product Mix
A product mix is the full of all product offered for sales by a company or products that an organization makes available to consumers. It may include, food lines, detergent, books.
1.9 Plan of the Study
A plan of the study is to focus our attention on the impact of new product development in a co-operate organization, using 7up Bottling Company of Nigeria Plc, Ijora, Lagos, as the case study so the project will cover the nooks and cranny of the subject matter, such as meaning of new product development and management. The answer to the successfulness of new product development introduction. Theory of innovation, diffusion an adoption stags involved in product life cycle, marketing strategies in the introduction state meaning of profitability and types of profitability.
Chapter Five
Summary of the Findings, Conclusion and Recommendation
5.1 Summary of the Findings
Going by the analysis of finding in chapter four 7up Bottling Company on Nigeria Plc does not operate in vacuum (isolation) and is being recognized both nationally and internationally in the production of soft drinks. To maintain its reputation the company has introduced a revitalized product (i.e. 50cl Pepsi) into the market.
The result of the data collected from the respondent showed that the majority of the staff is experiences staff of the company. It was reveals that of the respondents interviewed were from the middle age working class of the company.
Contemporary information was gathering from the corporate affairs department. It was also discovered that the new 50cl Pepsi of 7up Bottling Company of Nigeria was introduced early in 1997, and consumer have responded positively to the market. The performance of the organization has really increased greatly most especially in area of production sales volume and profit margin. We also discovered that the two major sources of the new product idea of 7up Bottling Company is internal and external sources.
The internal source refers to the innovation generated from the company research department etc. while external source refer to information gathered from outside the company i.e. market (Public). As well, it was notes that the major aim of 7up Bottling Company of Nigeria by going into new production development (revitalized) is to satisfies the customer’s need at a profit.
The very previous data collected showed that the newly revitalized product of (50cl Pepsi) has been able to a measurable level. The research also revealed that there will be market for new product and that the product will live up to expectation. It was also discovered that there would be some problems facing the new product executive of 7up Bottling Company of Nigeria Plc among which are problem of high compotation high cost of market and others.
In orders boost the soles and profit volume of the company the company also adopted some promotional tools such as advertising sales promotional effort has revitalized to be very effective.
Therefore in the overall view of the analysis of those data it could be deduced that 7up Bottling Company of Nigeria has so many unique. Selling proposition accrused to the new product development into the market environment in the consumer’s low rate of responsiveness to the product.
5.2 Conclusion
During the course of carrying out research into the impact of new product development in a co-operate profitability with reference to 7up Bottling Company Nigeria Plc. One will observed that the company is a very large company with varieties of soft drink product which operate in a highly competitive.
Marketing environment and therefore requires a lot of strategy in order to survive particularly in its newly developed product “Big Blue Jumbo” (50cl Pepsi). And the following conclusion have been drawn from this effort so far.
Firstly, it could be deducted from the analysis of the finding that the probability of the new product surviving in this highly competitive market is one i.e. certain. This can be supported from fact that the marketing strategy and other promotional effort adopted will lead to the company’s goal achievement.
And lastly, the new product development has really improved the performance of the through the product does not necessitates the survival of the existing product of 7up Bottling Company of Nigeria.
5.3 Recommendation
This write up like other one must have deserved some default and in order that improvement is effected. The following are hereby recommended.
Firstly the 7up Bottling Company of Nigeria Plc should ensure that adequate market research is carried out, before the introduction new product into marketing environment, so as to be familiar with the prevailing market and economic situation as regard consumers demand raw material cost etc.
Also as regards the review of operation department research is recommended at least twice in the course of production in a year is order to enable the management determine the efficiency of the operation department and to enable the management indicates area where improvement should be affected. And lastly in order to prevent the failure of new product proper market target must be ascertained and accurate market timing should be adopted.
Recommendations to Other Researches
Owing to the limitations earlier stated in the study some area relating to the problem of 7up Bottling Company Nigeria Plc could not be converted by this work. This regard the following area are being recommended to the other researchers in future research effort into the problem.
Firstly, problem of dynamic change in consumer taste and fashion interested parties could be beneficiary. Moreso researcher should make up their minds in breaking the record through the result gotten from the nation wide problem of socio economic problem of newly developed product which in turn have resulted.


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