MARKETING RESEARCH AND NEW PRODUCT DEVELOPMENT A CASE STUDY OF MUKWANO GROUP OF COMPANIES, KAMPALA

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ABSTRACT

The study examined the relationship between marketing research and new product development

taking Mukwano Group of Companies as a case study. The research also capitalized on three

objectives which required determining the effect that customer analysis contributes to new product

development, determining the effect of market segmentation on new product development, and

establish the relationship between marketing strategy and new product development. The study

employed stratified, simple random and purposive sampling techniques to draw representative

samples and a sample size of 6o respondents was determined from a population of 71 members

using Slovin’s Formula. Closes-ended questionnaires with five point likert scale were used to

obtain response. During this research data was carefully collected, classified and analyzed using

frequency tables and data was summarized using graphs and charts. The findings of the study

revealed that there is a relationship between marketing research and New Product Development

(NPD). This was attributed to the fact that marketing research acts as a tool to thoroughly

understand the market too which new products are to be sold. In this case, marketing research

addresses the issues relating which customers to buy, which product to introduce, at which price

to sell, and when to introduce such a product to the market. The two variables also relate in such a

way that it is thrush marketing research that continuous monitoring and identification of risks

against new products are ascertained. The other elements of marketing research which included

market segmentation and customer analysis were found to be great factors for success of new

products if well implemented. Finally, the researcher suggested some recommendations which

included prior studying customers and their markets and dividing the markets in heterogeneous

groups to be able to properly serve the market. The researcher also recommended that there should

be stakeholder involvement where all necessary individuals are involved in deciding which

marketing strategy to employ for a certain product.

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APA

Research, S. (2022). MARKETING RESEARCH AND NEW PRODUCT DEVELOPMENT A CASE STUDY OF MUKWANO GROUP OF COMPANIES, KAMPALA. Afribary. Retrieved from https://afribary.com/works/marketing-research-and-new-product-development-a-case-study-of-mukwano-group-of-companies-kampala

MLA 8th

Research, SSA "MARKETING RESEARCH AND NEW PRODUCT DEVELOPMENT A CASE STUDY OF MUKWANO GROUP OF COMPANIES, KAMPALA" Afribary. Afribary, 16 Aug. 2022, https://afribary.com/works/marketing-research-and-new-product-development-a-case-study-of-mukwano-group-of-companies-kampala. Accessed 02 Oct. 2022.

MLA7

Research, SSA . "MARKETING RESEARCH AND NEW PRODUCT DEVELOPMENT A CASE STUDY OF MUKWANO GROUP OF COMPANIES, KAMPALA". Afribary, Afribary, 16 Aug. 2022. Web. 02 Oct. 2022. < https://afribary.com/works/marketing-research-and-new-product-development-a-case-study-of-mukwano-group-of-companies-kampala >.

Chicago

Research, SSA . "MARKETING RESEARCH AND NEW PRODUCT DEVELOPMENT A CASE STUDY OF MUKWANO GROUP OF COMPANIES, KAMPALA" Afribary (2022). Accessed October 02, 2022. https://afribary.com/works/marketing-research-and-new-product-development-a-case-study-of-mukwano-group-of-companies-kampala