Assessment Of The Impact Of Marketing Research On New Product Development

📄 Project Abstract

Due to the economic condition of Nigerian society, firms undertaking new product development are faced with an environment which is characterised by long lead times from basic research to industrial application, a commercialisation phase with short lead times and an increasingly accelerated rate of obsolescence under the global competition of the new product development process. Marketing problems are numerous and inevitable as most products are not doing well to satisfy the consumers, as a result of poor marketing research to improve the quality of the product. The basic objective is to address the importance of marketing research on new product development and also examine the circumstances under which marketing research can likely be used in the stage of new product development and its impact on profitability. The questionnaire and interview methods were used to collect data for presentation and analysis. The simple percentage justified the entire findings and the statistical techni...