THE EFFECT OF PRODUCT PLANNING AND DEVELOPMENT IN THE GROWTH OF ORGANISATION

(A Case Study Of Smithkline Glaxo Nigeria Plc)

ABSTRACT

This research examined The Effect Of Product Planning And Development In The Growth Of Organisation with special reference to Smithkline Glaxo Nigeria Plc. The research adopted survey research design. Data were gathered through primary source with the aid of a well-structured questionnaire. Simple random sampling technique was adopted in the selection of sample, this was used to eliminate biasness in the selection process of the respondents.

Data garnered were presented on table using percentage and the formulated hypotheses were analysed with the used of Chi-square statistical method. The result of the analysis shows that appropriate product planning and development havehelped in the achievement of corporate objective, The increase in the market share of an organization’s product was Due to an effective product planning and development, Proper product planning and development has helped to Prevent a heavy unbearable loss to the firm, appropriate product planning and development has helped positively in the achievement of profitable sales operation in an organization.

Based on the conclusion of the analysis recommendations were proffered to the staff and management of Smithkline Glaxo Nigeria Plc.

TABLE OF CONTENT

PAGES

Title page                                                                                         1

Abstract                                                                                   2

Table of content                                                                       3

CHAPTER ONE: 

1.1      Introduction                                                                     5

1.2      Statement of the problem                                                6

1.3      Research question                                                           7

1.4      Aim and Objectives of the study                                      7

1.5      Significance of the Study                                                 8

1.6      Research Hypotheses                                                       8

1.7      The Scope and Limitation of the Study                            10

1.8      Definition of Terms                                                          10

1.9      Historical Background of Smithkine Glaxo Nigeria Plc    13

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.1      Introduction                                                                     16

2.2      What is Marketing?                                                          16

2.3      The Marketing Concept                                                    17

2.4      What is a Product?                                                           20

2.5      Classification of a Product                                               23

2.6      The Meaning of New Product                                           24

2.7      New Product Dilemma                                                     25

2.8      New Product Development Concerpt                                        25

CHAPTER THREE: RESEARCH METHODOLOGY

3.0      Research Procedure/Source of Data                                        37

3.1      Research Design                                                              37

3.2      Methods of Data Collection                                              38

3.3      Population Size                                                                        38

3.4      Description of Research Instrument                                38

3.5      Questionnaire Distribution and Collection Instructions  39

3.6      Data Analyst Method and Coding Procedure                    39

3.7      Question Design                                                              40

3.8      Reliability of the Data                                                      41

CHAPTER FOUR: ANALYSIS, INTERPRETATION AND PRESENTATION OF DATA

4.0   Data Presentation and Analysis                                       42

4.1      Presentation of Data                                                                42

4.2      Data Analysis and Interpretation                                     43

4.3      Test of Hypothesis                                                           50

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION

5.1      Summary                                                                         63

5.2      Recommendation                                                             64

5.3      Conclusions                                                                     64

Bibliography                                                                    67

Questionnaire                                                                  69

CHAPTER ONE

1.1 INTRODUCTION

Thus, it is a common saying “failure to plan is planning to fail”. There is nothing on earth that does not need appropriate planning. If such thing determined goal must be achieved. Appropriate planning is one of the most important aspects of a product life cycle. As it is proper for somebody who intends to build a house, to draw a plan of the house whether such building will be a two bedroom flat or bungalow or a multirooms type. He has to decide within himself and also make a rough sketch of the total cost of every thing for such a house. As such, it is quite very important for an organization intending to develop a product to make a necessary and adequate planning for such product.

Considering the multi-dimensional nature of consumers demand, it is therefore an essential for an organization to carry out all necessary pre-product development before introducing a new product to the market and determine the appropriate time to supply the product so as to regulate the product in the market.

Examining the intense competition in must industries today. Companies without new product ideas and new product development strategies are exposed to great risk of new product or existing product decline by way its product lifecycle and the outright closure.

The success of new products is always constraints by the following factors:

1.      Shortage of important new products ideas in certain area.

2.      Capital of a new products development

3.      Time span completion

4.      Social and Governmental constraints

5.      Cost implication of a new products development

The scope of appropriate product planning and development includes making decision in the following area: -

A      Which product should the company produce?

B.     Should the company market more or fewer product?

C.     What brand, package and label should be used for each         product?

D.     How should the product be style, design and in what sizes, colors and materials should it be produced?

-   What new users are there for each product?

-   How should the product be priced?

The purpose of this research is on the effect of product planning and development in the growth of an organization. The research is to:

1.  Determine the importance of appropriate product planning in the market and the product constraint for failure to plan product before introduced into the market.

2.  Establish the stages a product has to pass through before such product is developed and introduced into the competitive market for consumer’s patronage.

3.  Find out the approaches SmithKline Glaxo Nigeria Plc uses for its product planning functions and to ascertain the associates cost and strategies such approaches.

4.  Reveal the reasons some products were unable to thrive in the market and thus to Achieve the pre-determined goal of the product manufacturei.e. profit

5.  Determine the range of products manufactured by SmithKline Glaxo Nigeria PLC and to know the level of market acceptance of their products.

1.  The aim of this project is to examine the reasons why some company’s products do not last longer in the market, while in the midst of other similar products, which exist in a stiff competitive market.

2.  To examine the various marketing strategies currently been used by the various pharmaceutical companies for the new products.

3.  To analyze the extent of effectiveness of these strategies in terms of consumers satisfaction and patronage.

4.  To evolve and effective marketing strategy for the new product that will ensure increase patronage.

5.  To analyze problems encountered by marketers.

a)           What is the degree of difficulties the company is likely to face in an attempt to ensure a continuous innovation as a means of preventing products absence from market and the invention of new products line?

b)          Is the company able to determine the income of the Nigeria consumer so as to increase the rate and the market acceptance of new products?

c)           To what extent can the company generate sufficient data necessary for the effective appropriate product planning and development process in order to enhance its feasibility and profitability?

1.5   RESEARCH HYPOTHESES

Hypothesis can be defined as a tentative statement about the relationship that exists between two or more variables and such statement are conjectured that must be validated.

There are two types of hypothesis, which are null hypothesis and alternative hypothesis.

The null hypothesis, which is null hypothesis, is denoted by (Ho) while the alternative hypothesis is denoted by (Hi).The alternative hypothesis is accepted while the null hypothesis indicates rejected.

The research hypothesis is thus:

1.     Ho:   Appropriate product planning and development      have not   helped in the achievement of corporate       objective

Hi:    Appropriate product planning and development              havehelped in the achievement of corporate       objective

2.    Ho:   The increase in the market share of an    organization’s product was not due to an effective      product and planning and development.

H:    The increase in the market share of an    organization’s product was Due to an effective   product planning and development

3.       Ho:  Proper product planning and development has not                          helped to prevent a heavy unbearable loss to the                      firm.

           Hi:  Proper product planning and development has                      helped to Prevent a heavy unbearable loss to the                        firm.

4.      Ho:  Appropriate product planning and development has                       not helped positively in the achievement of                             profitable sales operations in an organization.

          Hi   Appropriate product planning and development has               helped positively in the achievement of profitable                       sales operation in an organization.

1.6   SIGNIFICANCE OF THE STUDY

1.  The study is to determine the degree of the difficulties the company is likely to face in an attempt to ensure a continuous innovation as a means of preventing products absence and the invention of a new product line.

2.  The study is meant to provide effective and appropriate product planning and development process in order to enhance its feasibility and profitability.

3.

This Project is for You If:

• ✅You are writing your final year project for the first time and don't want to make costly mistakes
• ✅This is your exact topic, or very close to what your supervisor gave you
• ✅Your supervisor has rejected one or more chapters and you don't know what to fix
• ✅You are stuck on Chapter 3 or data analysis and nothing is making sense
• ✅Your deadline is close and you are still far behind
• ✅You can't find enough materials anywhere for your topic

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