EFFECTIVE PRODUCT PLANNING AND DEVELOPMENT STRATEGIES FOR ACHIEVING INCREASED MARKET SHARE

(A CASE STUDY OF PATTERSON ZOCHNIS (PZ) PLC ABIA STATE)

ABSTRACT

This research is intended to generally appraise how effective product planning and development in the manufacturing sector as strategies for achieving increased market share with particular reference to PZ Nigerian Plc Aba Abia State. The main purpose of this study was to identify how effective product planning and development programme of PZ Nigeria will result to better customer satisfaction and increase market share by the company. In order to achieve the above objective purpose the following relevant literature were reviewed meaning of product planning and development procedure, introduction and evaluation, reasons, for new product venture team why new product fail and effective product planning and development strategies for achieving increase market share. The researcher design adopted in carring out this research is a survey research and the data were collected through primary and secondary source. Based on the analysis of the data collected, the following findings were made. That effective product planning and development strategies helped PZ Nigeria Plc achieve improved customer services and better satisfaction. Based on the findings, the under listed recommendation were made, that PZ management should release adequate finance to the manufacturing sector to enable them carryout effective product planning and development programme successfully.

TABLE OF CONTENTS

Cover page       -       -       -       -       -       -       -       -       i

Title page         -       -       -       -       -       -       -       -       -       ii

Approval page -       -       -       -       -       -       -       -       iii

Acknowledgement    -       -       -       -       -       -       -       iv

Abstract   -       -       -       -       -       -       -       -       -       v

Table of contents     -       -       -       -       -       -       -       vi

List of table      -       -       -       -       -       -       -       -       ix

CHAPTER ONE

INTRODUCTION      -       -       -       -       -       -       -       1

1.1      Background of the study -       -       -       -       -       1

1.2      Statement of the problems       -       -       -       -       4

1.3      Objective of the study      -       -       -       -       -       5

1.4      Hypothesis/research questions       -       -       -       6

1.5      Significance of the study -       -       -       -       -       7

1.6      Scope/delimitations of the study     -       -       -       9

1.7      Definition of terms   -       -       -       -       -       -       11

CHAPTER TWO

REVIEW OF RELATED LITERATURE    -       -       -       13

2.1      Meaning of product planning and development       -       14

2.2      Product planning development procedure       -       -       17

2.3      Introduction and evaluation    -       -       -       -       25

2.4      Reasons for new product development    -       -       28

2.5      Need for planning in new product development       31

2.6      New product development terms      -       -       -       33

2.7      Why new product fail       -       -       -       -       -       35

2.8      Effective product development planning and

strategies for achieving increased market share -    36

CHAPTER THREE

RESEARCH METHODOLOGY/DESIGN -       -       -       39

3.1      Sources of data        -       -       -       -       -       -       39

3.2      Population of study -       -       -       -       -       -       39

3.3      Sample size determination       -       -       -       -       41

3.4      Sample technique    -       -       -       -       -       -       43

3.5      Research instrument used       -       -       -       -       43

3.6      Questionnaire administration and response    -       44

3.7      Method of data treatment analysis   -       -       -       47

3.8      Limitation of the study     -       -       -       -       -       48

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF DATA   -       -       50

4.1      Presentation and analysis of data    -       -       -       50

4.2      Test of hypothesis    -       -       -       -       -       -       69

CHAPTER FIVE

DISCUSSION OF FINDINGS RECOMMENDATIONS AND CONCLUSION        -       -       -       -       -       -       -       -       74

5.1      Summary of findings       -       -       -       -       -       74

5.2      Recommendations   -       -       -       -       -       -       75

5.3      Conclusion      -       -       -       -       -       -       -       76

Bibliography    -       -       -       -       -       -       -       78

Appendix         -       -       -       -       -       -       -       80

LIST OF TABLE

Table 4.1:         Questionnaires Distributed      -       -       50

Table 4.2:        What is your Age?    -       -       -       -       51

Table 4.3:         Is the education qualification  -       -       52

Table 4.4:         Do your company carry out effective product planning and development strategies for achieving increased market share?       -       53

Table 4.5:         If yes, indicate the strategies for achieving increased market share       -       -       -       54

Table 4.6:         Do you think your company product planning and development strategies for achieving increased market share is adequate?  -       55

Table 4.7:         If no, indicate why the product planning and development strategies is not adequate.       56

Table 4.8:         Does your company have defect in their current product planning and development programmes?        -       -       -       -        -       57

Table 4.9:         IF yes, indicate those defects   -       -       58

Table 4.10:       Is there any problem militating against your companies effective product planning and development programmes     -       -       -       59

Table 4.11:       If yes, what are the problems?-       -       60

Table 4.12:       Can effective product planning and development strategies increase market share of your company (PZ)?  -       -       -       61

Table 4.13:       If yes, how can it achieve increased market share?  -       -       -       -       -       -       62

Table 4.14:       Can product planning and development strategies help your company achieve improved customer services and better satisfaction?    -       -       -       -       -       63

Table 4.16:       Do you think there is appropriate product planning and development strategies that will be adopted by your company to enable them achieve their organization goals and objectives?-       -       -       -       -       65

Table 4.17:       If yes, what are the appropriate strategies that will enable them achieve their organizational goals and objectives     -       -       -       -       66

Table 4.18:       Can effective product planning and development enable your company achieve customer loyalty   -       -       -       -       67

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE STUDY