ProjectClue.com We're Ready, Call Us

(+234) 07030248044

Project Topic:

A STUDY INTO THE PROCESS OF PRODUCT PLANNING AND DEVELOPMENT IN MARKETING

Project Information:

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 73 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   412 people found this useful

Project Department:

MARKETING UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

Project Body:

CHAPTER ONE

INRODUCTION

Marketing concentrate on the buyers or consumers determining their needs and desires, educating the regard to the availability of products and to important products features developing strategies to persuade them to buy and finally enhancing their satisfaction with purchase, marketing management includes researching, planning, organizing, directing and controlling promotion and servicing.

 In most of these decisions – making department has complete control in other, in addition the physical distribution of the products determining the channels that will be used and supervising the efficient flow of goods from the factory to warehouse.

 It was a business assumption that only through product planning and development that company can offer a highly qualitative product to the customers or users, which may even compete favourably with the competitor’s product.

 Although, the economist would want us to believe that competition focus on the prices alone. But to the marketers and other businessmen, competition could also take place in terms of product quality and features, which can be successfully achieved through product planning and development process.

 The entire activity is very broad, it involves making decision on all practical issues relating to product and product life cycle, product development process and product distribution strategies e.t.c.

 All demand the effort of a number o f individuals and their job function over a considerable period of time.  It also involves large sum of money in planning and developing a qualitative product that will be generally acceptable to the consumers or users.

 Since most companies or business organizations wants to ensure productivity, profitability and survival in business, it then become very important for main regular product planning and development as the only influential strategies for productive and profitability.

 

1.1    BACKGROUND OF THE SUBJECT MATTER

 The decision to write on the topic the process of product planning and development in marketing, is because of the importance of product development in marketing activities concern.  It however comprises procedures or stages to follow in carrying out the planning of developing the product, which in the long run bring about bottle needs to some organization.

 Different techniques have been applied to make sure that adequate process and planning in product development must be taken place, such as idea generation, idea screening, business analysis, product development, test-marketing and commercialization.

 However, guided by a company, the process of product planning and development in marketing activities is best developed through a series of stages mentioned, the formal development of new products provide benefits such as improved team work, less rework, earlier failure detect shorter development times, and most important – higher success rate.

 At each stage or series management must decide whether to the next stage, abandon the product, or seek additional information.  From their potential customer as their best sources for new product ideas.  Then the management will screen new product idea and evaluated to determine which one warrant further study.

 Therefore the management will

Identifies product features

Estimate market demand, competitors and product profitability

Also to establish program to develop the product, and

Assigns responsibility for further study of the product feasibility.

If the result of the business analysis are favourable then a product development will commenced.

1.2. SIGNIFICANCE OF THE ESSAY

This extended essay has essentially been undertaken for the under mentioned reasons:

 Principally, it is undertaken in partial fulfillment for the award of the National Diploma in Business Studies, Department of Business Administration and Management of Studies of the Kaduna Polytechnic.

 The findings would be of immense of use to the process of product planning and development in marketing.

 This essay would be source of reference to any student who may desire to carry out research on motivational factors.  It is also hoped that it would be a source of reference to my sponsor when the need arise.

 1.3    OBJECTIVE OF THE ESSAY

 The main objective of this essay writing is to highlight the importance of product planning and development to marketing organization.

To provide suggestion and recommendation to marketing organization to words product planning and development.

To outline the procedures of product planning and development.

To examine the problems associated with product planning and development.

To provide useful source of information regarding product development and planning as a strategy in marketing

 

1.4    LIMITATION OF THE ESSAY

 It is natural that an extended study of this nature is never conducted without some inhibiting factors.  The following however are the constraints of this study.

INADEQUATE TIME – Academic programs of the institution are usually plan ahead and each program has its own period of execution, and implementation combining class work, and essay written is not an essay task much time is consumed in moving form one place to the other.

FINANCE – The research study requires a lot of finance in order to get the activities implemented accordingly.  For finance reason the writer could not get all the necessary material needed.

Due to the fact that there was time constraint because the writer had to face lectures and only squeezed time to go to library to get relevant text books.

 

1.5    DELIMITATION OF ESSAY

 1.     IMPROVING STANDARD OF LIVING

 A well planned and developed product of help to improve the living stand of the people due to it quality, performance, recommendation e.t.c. to it consumers.

 2.     PROMOTING THE IMAGE OF THE ORGANIZATION

 If a product is performing it function according to the expectation of the users or consumers need, it will create good image to such organization above other organization whose product does not achieve such opportunity.

 3.     IT INCREASE SALES AND INCOME TO THE ORGANIZATION

 A well planned and sound developed product couple with it performances in satisfying users need, will attract more patronage, the volume of sales and income to the organization which the other hand gives and opportunity to such organization to expand toward achieving better result.

 4.     OPPORTUNITY FOR NEW PRODUCT

 An effective planning and development process of a product help in creating idea for discovering new product.  Such product its no rival may boom very well due to monopolistic advantages.

1.6   DEFINITIONS OF TERMS

 The terms below are explained in the context of the study

Product: Product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need.  It includes physical objects, service person’s place, organization and ideas.

Product mix: - Is the complete range of the company product service and brands aimed at all of the relevant target markets and market segment.

Product line: - Is when a product sold to the same customer have the same uses or go through the same distribution channel.

Product developing: - It is the stage at which the product type is put into practice and come out with a tangible product.

Marketing: - Is the process by which people get what they need and went through the exchange of product and services with other.

Literature review: - A search of statistic trade journals, magazines and other books for data or insight into the problems at hand.

Product differentiation: - Is the act of designing a set of difference to distinguish the company product from competitor’s product.

Price: -  In economics value of things measured in term of what the buyers in a market will be given in exchange for them.

Business: - Complex economic operation concerning those function that govern the production, distribution and sale of goods and services for the benefit of the buyer and the profit of the seller

Get the complete project »

Instant Share On Social Media:

OTHER SIMILAR MARKETING PROJECTS AND MATERIALS

MARKETING ACTIVITIES AND FAITH BASED ORGANIZATIONS

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   847 engagements

Chapter one Introduction 1.1. Background of the study Marketing is an integral part of any organization. This would help increase customer base and make an organization very popular if adequately a...Continue reading »

THE EFFECT OF ADVERTISEMENT ON CONSUMER BRAND PREFERENCE

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   1334 engagements

CHAPTER ONE 1.1. INTRODUCTION Advertiser’s primary mission is to reach prospective customers and influence their awareness, attitudes and buying behaviour. They spend a lot of money to keep in...Continue reading »

ADVERTISING: AN EFFECTIVE PROMOTIONAL TOOL FOR MARKETING NEW PRODUCTS ( A CASE STUDY OF NASCO MARKETING COMPANY)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 71 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   485 engagements

ABSTRACT Promotional mix variables differ in effectiveness in generating consumer interest and influencing purchase decision. In this study, an attempt is made to evaluate the effectiveness of adverti...Continue reading »

ANALYSIS OF PROMOTION MIX AS A TOOL OF MARKETING COMMUNICATION

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   459 engagements

The article on this topic (analysis of promotion mix as a tool of marketing communication) is an extract from literature review of the project material. The complete project work would be made availab...Continue reading »

EFFECT OF PERSONAL SELLING AND MARKETING ON SALES GROWTH

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 75 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   703 engagements

CHAPTER ONE INRODUCTION Personal selling is an important component of the overall marketing strategy of an organization. According to Adamu (200) personal selling is the presentation of a persuasive...Continue reading »

IMPACT OF CUSTOMER SATISFACTION STRATEGIES ON CUSTOMER RETENTION IN FIRST BANK NIGERIA PLC

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 78 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   363 engagements

The article on this topic (impact of customer satisfaction strategies on consumer retention in First bank Nigeria) is an extract from literature review of the project material. The complete project wo...Continue reading »

What are looking for today?

WHAT OUR CUSTOMERS ARE SAYING:
  • 1. Taleeb from Kwara state polytechnic said "I like all topics on this website but anytime i wrote topic to my project supervisor he used to ask where is the case study and case study is not written there . thanks ................".
    Rating: Very Good
  • 2. Donald from ui said "i thank you guys for the good work...i never believe that there are still some Nigerians that are trustworthy until i stumbled upon projectclue. excellent job. great write up. weldone Glory keep up the good job. nice voice.,...i will always recommend projectclue to any Nigerian researchers...God bless.".
    Rating: Very Good
  • 3. Abdoulrasheed Tapheeda from Taraba State University,Jalingo said "The Project Clue owe me a Tribute Respect, because of the nature of their work and delivery system. I recommend this site for any undergraduate due to the quality and fast delivery system of their work. Thanks".
    Rating: Excellent
  • 4. Sam Seyil from Federal Uni Agric. Markudi said "I had a wonderful experience using ProjectClue, they delivered not only on time, but the content had good quality. I recommend ProjectClue for any project research work.".
    Rating: Excellent
  • 5. Eval, Effa A. from University of Calabar (Unical) said "It was a wonderful experience using projectClue, it really helped me in carrying out a Term paper research NGP.".
    Rating: Good
  • 6. Abimbola Bisola from Obafemi Awolowo University said "Thanks a million times for giving me a quality research project. not only have i defended i was commended by my supervisor. You guys are the best; Project clue".
    Rating: Very Good

Leave a comment: