Abstract
This study investigated the impact of new product development on the performance of an organization using Grand Malt, which is a product of SABMiller situated at Onitsha in Anambra State as a case study. A total of 100 respondents were investigated using the cross-sectional survey research methodof data collection. The data collected were analyzed using the simple percentage. The hypotheses were tested using the Chi-Square statistical technique. It was discovered that new product development results in customer satisfaction and also brings about customer loyalty and these result inincreased volume of sales and organization’s profit margin. Also, it revealed that profit and customer satisfaction are the basic reason why a firm may develop a new product. It was equally discovered that Lack of distinctive advantages in product performance and price or Initial overestimation of the target market which will result in low demand can lead to a new product’s failure in the market.
Based on these findings, the researcher hereby recommends, among others, that organizations should use consumer behaviour to create a marketing strategy. Once this is done, it is most likely theirmessages will be delivered to the correct target market, resulting in an end sale of a product. The paper adds to the research on sources of new product competitive advantage in developing countries. It also underlines the need to focus on different dimensions of NP competitive advantage, rather than approaching it from a holistic perspective. The paper further underlines that organizations should focus on long-term results of NPD, such as NP customer performance, rather than solely focusing on short-term financial results.
CHAPTER ONE
Introduction
1.1 Background of the Study
1.2 Statement of the problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Research Hypotheses
1.6 Significance of the Study
1.7 Operational Definition of terms
1.8 Limitations of the Study.
1.9 Organization of the Study
1.10 Brief History of Grand Malt
CHAPTER TWO
Review of Related Literature
2.0 Introduction
2.1 The Meaning, Definition and Characteristics of a Product
2.2 Levels of a Product
2.3 Features and Benefits of Products
2.4 Classification of Products
2.5 New Product Development (NPD)
2.6 New Product Development Process
2.7 Product Management
2.8 Effect of New Product Development on the Performance of the Organization
2.9 The effect of Consumer Behaviour on New Product’s Success
2.10 Synergism and Marketing of New Product
2.11 Sources of new product ideas
2.12 Why Firms Develop New Products
2.13 Why Firms do not Develop New Products
2.13 Reasons why new products fail in the market
2.14 New Product Adoption Process
2.15 The effect of product characteristics on the rate of adoption
2.16 The Relevance of Grand Malt in Nigeria
2.17 Areas of Consideration for Improving New-Product Quality
CHAPTER THREE
Research Methodology
3.1 Introduction.
3.2 Scope of the Study
3.3 Selection of Data
3.4 Collection of Primary Data
3.5 Design and Administration of Questionnaire
3.6 Determination of Sample Size
3.7 Sampling Techniques
3.7 Operational Measures of Variables
3.8 Data Analysis Techniques
CHAPTER FOUR
Presentation and Analysis of Data
4.0 Introduction
4.1 Analysis of Demographic Variables
4.2 Demographic Variables of Respondents
4.3 Respondents view on Satisfaction with the quality of Grand Malt as a Product.
4.4 Discussion of Findings
CHAPTER FIVE
Summary, Conclusion and Recommendations
References
Appendix One
Questionnaire
