THE IMPACT OF NEW PRODUCT DEVELOPMENT ON SALES VOLUMES

THE IMPACT OF NEW PRODUCT DEVELOPMENT ON SALES VOLUMES (A CASE STUDY OF PEUGEOT AUTOMOBILE NIGERIA LIMITED KADUNA)

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ABSTRACT

This research is a study to investigate “the impact of new product development on sale volume. The writer carefully examined how new product are developed in the company pan ltd, along with sale volume of the new generated product, new product can be described as nay product which has a new substance incorporated, the new substance could be modified favlour, colour, or even the pack. The objective is to enhance profitability towards the development of the organization and what new product development entails.

 

The research is carried out in pan ltd kaduna where major facts, data and information where provided. Recommendations; the company should keep on developing new product for the betterment of the nation (Nigeria) and beyond if possible also briefly examined the introducing part of the project work. The statement of the general problem, the brief history/background and definition of terms.

 

The ideal method use in population is random sampling, solution are provided in 6 questionnaires, the researcher used the following testable hypothesis which was drawn up this. Ho: revealed that the impact of sale volume in new product development facilities sales, encourage more new product generation enhance profitability differentiate Peugeot from the best competitors for its uniqueness and peculiarity. Hi; emanate from some uncontrollable marketing variable, however the unfavourable hypothesis are dropped.

 

 

CHAPTER ONE

  • Introduction                                                    1
  • Statement of the problem 2
  • Brief history of general problem 5
  • Background of the study 7
  • Research scope 9
  • Rationale for the study 9
  • Limitations of the study 10
  • Definition of terms 11

 

CHAPTER TWO

Literature Review

  • Introduction 16
    • Definition of product 16
    • Stages and process of new product development 22
    • Reasons and objection of new product development 27
    • Product definition product life cycle 28
    • Issues of sales 32

 

CHAPTER THREE

Research Methodology

  • Introduction 37
    • Research methods used 37
    • Justification for the approaches used 38
    • Research populations and sample size 38
    • Instruments of tools used 39
    • Sample procedures employed 39
    • Statistical techniques used in analyzing data 40
    • Statement of hypothesis 40

 

CHAPTER FOUR

Presentation and Analysis of Data

  • Introduction 41
    • Presentation and analysis of management questionnaire 41
    • Presentation and analysis of end used questionnaire 45

CHAPTER FIVE

Summary, Conclusions and Recommendations

  • Introduction 54
    • Summary 54
    • Conclusions 56
    • Recommendations 57

Bibliography

 

 

 

CHAPTER ONE

  • INTRODUCTION

Companies that fail to develop new products are putting themselves at great risk. Risk of poor sales volume, space out of market into a small cubicle of not completely put out by competitors of the same product development strategies, initiatives and innovation conscious that is what that research is aiming to influence on sales volume.

 

The existing products are vulnerable to changing customer needs and tastes, new technologies shortened product life circles and increased domestic and foreign competition once a company has carefully segmented the market, chosen its target customers, identified needs, and determined its market positioning.

 

It is better able to develop new products. New products development shapes the company’s future. Replacement products must be created to maintain or build sales of the organization.

 

Every enterprise is profit oriented, that can be actualized through prompt sales volume realize, and that depend on the quality, core products, physical tangible, augmented products and the application of promotional mix/tools of the newly developed product.

It is also clear that customers want new products, and competitors will do their best to supply them. For instance, each year over 16,000 new product (including line extension and new brands are introduced into groceries and drug stores.

 

In automobile company in general (especially PAN with it uniqueness and distinctive qualitative product) such cannot be less expected.

Automobile company Peugeot in developing a program to reach its intended market, must start with the product (new product) at hand for offering or service designed to satisfy the wants of the market segment. Therefore the executives must plan, develop and manage both individual (industrial users) product and industrial product assortment. This is not easy task as is shown by the large number of product failure in our economy.

 

 

  • STATEMENT OF GENERAL PROBLEM

Understanding this concept – new product, we discover products or services that are borne of innovation but non existence previously with its present feature so it attracts problems at the level. A new product can be conceived and developed over night, it takes time and efforts to ring the new product idea into fruition. It also consumes a lot of money to bring a new idea generated into commercialized offer.

 

A new product is expected to be profitable and successful but opposite is the case sometimes to different companies production…

 

 

 

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