IMPORTANCE OF PRODUCT DEVELOPMENT IN THE MARKETING OF A FIRM’S PRODUCT

IMPORTANCE OF PRODUCT DEVELOPMENT IN THE MARKETING OF A FIRM’S PRODUCT

 

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ABSTRACT

Today is technologically driven world, the importance of innovation and product developing is growing. Firms must develop innovation products faster and more efficiently. This has increased the importance of product development performance. This work attempts to quantity development of effort and lead-time based on product and project characteristics through the use of a generative cost model.

 

The model developed in this essay writing development cost using direct engineering effort along wit indirect project costs. These cost are then compared with fabrication and assembly cost. The effects of product platforming on development and cost are analyzed.

 

The relevance of product innovations and new product development for the competitive performance of firms and for the long-time economic growth is known and recognized. This essay aims to highlight the meaning, classification and organizing of the new product development, the product development process, it marketing strategies are also explained. It is clear that product development in the marketing of a firm is very important.

 

This essay has the objectives of assessing the relevance of product innovation and new product development for the effective performance of a firm. In developing new products, the firm stands to satisfy its customers. At the end the summary, conclusion and recommendations are given.

 


 

CHAPTER ONE

1.0     Introduction        –         –         –         –         –         –         –

1.1     Objectives of the Essay         –         –         –         –         –

1.2     Significance of the Essay      –         –         –         –         –

1.3     Objectives of the Essay         –         –         –         –         –

1.4     Delimitation of the Essay     –         –         –         –         –

1.5     Limitation of the Essay        –         –         –         –         –

CHAPTER TWO

         Literature Review

2.0     Introduction        –         –         –         –         –         –         –

2.1     The Concept of Record Management      –         –         –

2.2     Importance of Effective Records Management         –

2.3     Types of Electronic Filing System Available   –         –

2.4     Managing Records in an Electronic Office       –         –

2.5     Manual Filing and Methods –         –         –         –

2.6     Effective Management Records     –         –         –         –

2.7     Summary of Literature         –         –         –         –         –

CHAPTER THREE

Summary, Conclusion and Recommendations

3.0     Introduction        –         –         –         –         –         –         –

3.1     Summary   –         –         –         –         –         –         –         –

3.2     Conclusion –         –         –         –         –         –         –         –

3.3     Recommendations       –         –         –         –         –         –

References –         –         –         –         –         –         –         –

 

 

 

CHAPTER ONE

1.0     Introduction

1.1     Background of the Essay

Product is the most important in the marketing mix around which other activities resolved (the rest of the element), by a firm product, this means anything that can be offered to a market for attention acquisition use or consumption that might satisfy wants or needs.

A product includes physical, objectives, service, persons, organization and ideas. Managing a product ingredient include planning and development of the right product and service to be marketed by the company. Guidelines needed for changing products:

  1. Decisions are needed regarding to branding, quality, packaging, styling and other various product features.
  2. New product development is broad and tedious it goes beyond the physical components of a particular product and it deals with all factors of satisfaction.
  • New product development of a firm is an act that any firm that cannot offer to afford if it wishes to remain in business and it can only achieve thus objective with a steady flow of (new) product.
  1. New product plays a critical role in the company’s desire for survival and well-being. Their development account for a high profession. Product plays significant role in growth and continuity of a business.
  2. New product is import to be able to meet instability of competition on the market.
  3. New product are necessary since the demand for goods is not constant, a company cannot rely only its existing product. Customers want and expects new product and improved product as market widens to that people tend to become selective in buying.
  • Gives rapid change in consumer taste, technology and competitions, companies must develop a steady stream of new product and services.

A firm can obtain new products in two ways. One is through “acquisition” by buying a whole company a patent, or a license to produce some one else’s product. The other is through “product development”. In the company’s owe research development department as the cost of developing major new products. Many large companies have acquired existing brands rather than creating new ones. Others firms have saved money by copying competitors brands or by reviving old brand. Under the new approach various company development work closely together,

 

 

 

This article highlights various college of education, polytechnics, universities website in Nigeria.

 

Adeyemi College of Education, Ondo,

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Angel Crown College of Education, Gidan-Daya, .

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Assanusiyah College of Education, Odeomu,

African Thinkers Community of inquiry College of Education,

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Bauchi Institute for Arabic and Islamic Studies, .

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ONIT College of Education, Abagana, .

The African Church College of Education, Lagos,

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Yewa Central College of Education, Ogun,

List of Federal Universities in Nigeria

Abubakar Tafawa Belewa University,

Ahmadu Bello University, Zaria,

Bayero University, Kano,

Federal University, Gashua,

Federal University of Tech, Akure,

Federal University of Petroleum Resources, Effurun,

Federal University of Technology, Minna,

Federal University of technology, Owerri,

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Federal University Dutsin-Ma,

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Federal University, Otuoke,

Federal University, Wukari,

Federal University, Birnin Kebbi,

Federal University, Gusau

Michael Okpara Univeristy of Agric, Umudike, .

Modibbo Adama University of Tech, Yola, .

National Open University of Nigeria,

Nigeria Police Academy Wudil, .

Nigeria defense Academy, Kaduna, .

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University of Abuja, Gwagwalada, .

University of Agriculture Abeokuta,

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University of Calabar,

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University of Nigeria Nsukka,

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University of Uyo, .

Usmanu Danfodiyo University,

List of State Universities in Nigeria admission list

Abia State University, Uturu,

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Adekunle Ajasin University, Akungba,

Amrose Alli University, Ikot Akpaden,

Anambra State University of Sc. & Tech, Uli,

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Cross River State University of Sc. & Tech, Calabar, .

Delta State University Abraka,

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Ekiti State University,

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Ibrahim Badamasi Babangida University,

Ignatius Ajuru University of Education,

Imo state University,Owerri,

Jigawa State University,

Kaduna State University, Kaduna

Kano University of Sc. & Tech, Wudil

Kebbi State University, Kebbi,

Kogi State University, Anyigba,.

Kwara State University, Ilorin, .

Ladoke Akintola university of Tech,

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Nasarawa State University, Keffi,

Niger Delta University, Yenagoe,

Olabisi Onabanjo University Ago-Iwoye,

Ondo State University of Sc. & Tech, Okitipupa,

Osun State University, Oshogbo,

Plateau State University, Bokkos,

Rivers State University of Sc. & Tech,

Tai Solarin University of Education, Ijebu-ode,

Taraba State University, Jalingo,

Umaru Musa Yar’Adua University,

Private Universities

Achievers University, Owo,

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Afe Babalola University, Ado- Ekiti,

African University of Sc. & Tech, Abuja,

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Ajayi Crowther University, Ibadan,

Al-Qalam University, Katsina,

American University of Nigeria, Yola, .

Babcock University, Ilishan,

Baze University,

Bells University of Technology, Otta,

Benson Idahosa University, Benin,

Bingham University, New Karu,

Bowen University, Iwo,

Caleb University, Lagos, .

Caritas University, Enugu,

CETEP City University, Lagos,

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Crawford University, Igbesa,

Crescent University,

Elizade University, Ilara-mokin, .

Fountain University, Oshogbo,

Gregory University, Uturu,

Hallmark University,

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Joseph Ayo Babalola University,Ikeji,

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Redeemer’s University, Mowe,

Renaissance University, Enugu,

Salem University, Lokoja,]

Tansian University, Umunya, .

University of Mkar

Veritas University, .

Wellspring University, Edo, .

Wesley University of Sc. & Tech, Ondo,

Western Delta University, Oghara

List of all the Federal Polytechnics in Nigeria

    Air Force Institute of Technology Nigerian Air Force,

    Air Force Institute of Technology Nigerian Air Force,

    Akanu Ibiam Federal Polytechnic, Unwana,

Nigeria Army School of Military Engineering,

     Auchi Polytechnic .

     Auchi Polytechnic .

    Federal Polytechnic, Ado-Ekiti

Federal Polytechnic, Ado-Ekiti .

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     Federal Polytechnic, Ile-Oluji, Ondo State,

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Federal School of Dental Technology and Therapy,

Kaduna Polytechnic, Kaduna,

Hussaini Adamu Federal Polytechnic,

Nigeria Army School of Military Engineering,

Federal College of Animal Health and Production Technology

Waziri Umaru Federal Polytechnic Birnin Kebbi,

Yaba College of Tech,

List of State Polytechnics in Nigeria

 Abraham Adesanya Polytechnic, Ijebu-Igbo,

Abia State Polytechnic, .

Adamawa State Polytechnic,

Akwa-Ibom State Polytechnic, Ikot-Osurua,

Benue State Poly, Ugbokolo,

Gateway Polytechnic, Igbesa,

Rufus Giwa Polytechnic,

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The Polytechnic, Ibadan, .

Institute of Mgt. and Tech,

Imo State Polytechnic, Umuagwo

Kano State Polytechnic,

Kogi State Polytechnic, Lokoja,

Kwara State Polytechnic, Ilorin,

Lagos State Poly, Ikorodu,

Moshood Abiola Poly,

Nasarawa State Polytechnic

Nuhu Bamalli Polytechnic,

Delta State Polytechnic, Ogwashi-Uku,

Osun State Poly, Iree,

Osun State Poly, Iree,

Osun State College of Tech, Esa-Oke,

Delta State Polytechnic, Ozoro,

Plateau State Polytechnic, Barkin-Ladi,

Adamawa State Poly,

Rivers State College of Arts and Science,

Rivers State College of Arts and Science

Rivers State Polytechnic,

Gateway Polytechnic Saapade

Edo State Inst. of Tech and Mgt, Usen,

Niger State Poly, Zungeru, Niger State,

List of Private Polytechnics in Nigeria

Allover Central Polytechnic,

Crown Polytechnics,

Covenant Polytechnic,

Dorben Polytechnic, Bwari-Garam Road,

Fidei Polytechnic, Gboko,

Grace Polytechnic,

Grace Polytechnic,

Igbajo Polytechnic,

The Polytechnic, Ile-Ife, NITEL Road

Lagos City Poly, Ikeja, Lagos State,

Light House Polytechnic, Eubuobanosa,

Interlink Polytechnic,

Kings Polytechnic, Ubiaja,

RONIK Polytechnic,

Shaka Polytechnic, Polytechnic, Benin city,

Temple-Gate Polytechnic,

Wolex Polytechnic

Prime Polytechnic

The Polytechnic Imesi-Ile, Osun

Heritage Polytechnic, Ikot Udota

Ibadan City Polytechnic

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