Effect Of New Product Planning And Development On The Growth Of Firms In Brewery Industry In Nigeria (A Case Study Of Guinness Nigria Plc)

ABSTRACT

This work ascertained the effect of new product development on the growth of brewery firms in Nigeria with a special reference to Guinness Nigerian PLC. There has been a perennial argument on to what extent has new product development been able to achieve specific growth expectations of the firm if the complete innovation. The major objectives is to determine the degree of association between new product development and the consumption rate, profitability, market share and sales volume of Guinness PLC products. To achieve this, the study designed as a survey study used a structure questionnaires to elicit information from the staff and customers of Guinness Nigerian PLC in the Lagos, Benin and Aba.  The data was analysed using percentage, bar chart, descriptive analysis and Pearson moment correlation. The empirical evidence shows that developing a new products in a beverage brewery firm is moderately significant on consumption rate, market share and customer satisfaction in Guinness. The other results shows that new product development does not imply profitability but it has a strong impact on the sales volume of the product because people want to taste something new. The study made strong recommendations. The conclusion is that product development keeps the firms alive in the mind of the people.

TABLE OF CONTENTS

Title Page ﾿ i

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Table of Content ﾿ vi

List of Tables ﾿ viii

Abstract ﾿ ix

CHAPTER ONE

INTRODUCTION

1.1 ﾿ Background of the Study ﾿ 1

1.2 ﾿ Statement of Problem ﾿ 5

1.3 ﾿ Objectives of the Study ﾿ 6

1.4 ﾿ Research Questions ﾿ 7

1.5 ﾿ Research Hypotheses ﾿ 7

1.6 ﾿ Significance of the Study ﾿ 8

1.7 ﾿ Scope of the Study ﾿ 10

1.8   Operational Definition of Terms ﾿ 11

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1 ﾿ Conceptual Framework ﾿ 13

2.1.1 Concept of New Product Development ﾿ 14

2.2 ﾿ Research Development ﾿ 15

2.3 ﾿ Organizational Arrangement for New Product Development (NPD). ﾿ 16

2.4 ﾿ Screening and Evaluation New Product Ideas ﾿ 17

2.5 ﾿ Concept Development and Testing ﾿ 17

2.6 ﾿ Marketing Strategy Development ﾿ 18

2.7 ﾿ Business Analysis ﾿ 18

2.8 ﾿ Product Development ﾿ 19

2.9 ﾿ Test Marketing ﾿ 20

2.10 ﾿ Commercialisation ﾿ 20

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 ﾿ Research Design ﾿ 22

3.2 ﾿ Area of Study ﾿ 22

3.3 ﾿ Sources of Data and Method of Collection ﾿ 23

3.4 ﾿ Population of the Study ﾿ 24

3.5 ﾿ Sample Procedure and Sample Size ﾿ 24

3.5.1 ﾿ Sample Procedure ﾿ 24

3.5.2 ﾿ Sample Size Determination ﾿ 25

3.6 ﾿ Instrument for Data Collection ﾿ 26

3.7 ﾿ Method of Data Analysis ﾿ 27

CHAPTER FOUR

DATA PRESENTATION AND ANALYSIS

4.1 ﾿ Data Analysis and Interpretation ﾿ 29

4.2 ﾿ Testing of the Hypotheses ﾿ 34

CHAPTER FIVE

SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION

5.1 ﾿ Summary of Findings ﾿ 71

5.2 ﾿ Conclusions ﾿ 75

5.3 ﾿ Recommendations ﾿ 78

REFERENCES