THE IMPACT OF NEW PRODUCT DEVELOPMENT ON SALES VOLUME IN PEUGEOT AUTOMOBILE NIGERIA LIMITED, KADUNA

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ABSTRACT

The study examined the impact of new product development on sales volume in Peugeot Automobile Nigeria Limited, Kaduna. The objective of the study is to examine how new product development on sales volume are being carried out by Peugeot Automobile Nigeria Plc, Kaduna. The survey research method would be adopted in this research. The finding further reveal that the techniques used in new product development on sales volume in Peugeot Automobile are basically the total assurance and consumer feedback. In conclusion, the new product development is very important to the existence of business organization because its survival depends on increase in sales volume. As such it was recommended that new product development on PAN Nigeria Limited should strengthen its marketing activities by monitoring competitive activities on a regular basis in order to identify areas of their weakness.

TABLE OF CONTENTS

Title i

Declaration ii

Approval page iii

Dedication iv

Acknowledgement v

Abstract vii

Table of contents viii

CHAPTER ONE: INTRODUCTION

Background of the Study 1
Statement of the Problem 4
Objectives of the Study 7
Significance of the Study 7
Research Questions 8
Scope of the Study 8
Limitations of the study 9

CHAPTER TWO: LITERATURE REVIEW

Introduction 11
Definition of product 11
Stages New Product Development 17
Process of new product development 21
Reasons and Objectives of New Product Development 26
Product Life Cycle 27
Issues of sales 27
Summary of the Literature 29

CHAPTER THREE: RESEARCH METHODOLOGY

Introduction 30
Research Design 30
Area of Study 31
Populations of Study 31
Sample Size and Sampling Technique 31
Instrument of Data Collection 32
Validation of Instrument 32
Reliability of Instrument 32
Method of Data Collection 32
Method of Data Analysis 33

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

Introduction 34
Characteristics of Respondents 34
Data Presentation and Analysis 35
Summary of Findings 39
Discussion of Findings 39

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

Summary 40
Conclusion 42
Recommendations 43

Bibliography 45

CHAPTER ONE

BACKGROUND OF THE STUDY

The subject (new product development) has influence the issue of sales which the researcher will like to assembly the sales of PAN product and services in Nigeria.

The company staff embark on advertising and research agencies, competitors, through conferences, exhibitions, and trade fairs, company’s marketing department and R and D department of the company or through any of the processes to prototype development and test marketing or commercialization in new product development that is ever done or actualized in the assembly nation (Nigeria) rather, but in France, therefore the sales here must be influenced by the cost of raw material source shipped for imported and along with the cost of production in the assembly.

This is why sales or marketing strategy apply is more focus on industrial market and government (local state and federal). Majorities and less industrial market (buyer). All that involve are due to the technicalities and uniqueness of the product.

There may be no use attempting to add a new product to the existing range, if such a firm has no clear-cut objectives of what the new product is supposed to achieve. It is not however, within the scope of this research piece to make a comprehensive list of the various objectives of new products development as this varied widely from one firm to another.

By and large, the purpose of new product development of an unexplored market potentials which a company has identified the firm having armed itself life PAN with such objective may then proceed to other steps in new product development.

Companies that fail to develop new products are putting themselves at great risk. Risk of poor sales volume, space out of market into a small cubicle of not completely put out by competitors of the same product development strategies, initiatives and innovation conscious that is what that research is aiming to influence on sales volume.

The existing products are vulnerable to changing customer needs and tastes, new technologies shortened product life circles and increased domestic and foreign competition once a company has carefully segmented the market, chosen its target customers, identified needs, and determined its market positioning.

It is better able to develop new products because new products development shapes the company’s future. Replacement products must be created to maintain or build sales of the organization.

Any enterprise that is profit oriented, can be actualize this through prompt sales volume realize, and that depend on the quality, core products, physical tangible, augmented products and the application of promotional mix/tools of the newly developed product.

It is also clear that customers want new products, and competitors will do their best to supply them.

In automobile company in general (especially PAN with it uniqueness and distinctive qualitative product) such cannot be less expected.

Automobile company Peugeot in developing a program to reach its intended market, must start with the product (new product) at hand for offering or service designed to satisfy the wants of the market segment. Therefore the executives must plan, develop and manage both individual (industrial users) product and industrial product assortment. This is not easy task as is shown by the large number of product failure in our economy.

STATEMENT OF THE PROBLEM

A new product can be conceived and developed over night, it takes time and effort to bring the new product idea into fruition. It also consumes a lot of money to bring a new idea generated into commercialized offer. A new product is expected to be profitable and successful but opposite is the case sometimes to different companies. Products sometimes decline and die natural deaths due to inexplicable circumstance.

The reaction of the company leads to new or modified products, such products

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