THE IMPACT OF NEW PRODUCT DEVELOPMENT IN AN ORGANIZATION

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ABSTRACT

Product is a very important part of the marketing mix, and consumers want and satisfaction serve as the yardstick for creating it. Hence products must be designed with the market’s need in mind. This essay writing intends to look at the basis for planning changes in marketing strategy which allows a management to take a corrective course of action. As a matter of fact, products like human beings have life span and they can die. The danger in the death of an organization product is that it could result to the closure of the organization business operations. In the light of this, it is therefore a necessity for organizations to adopt the new product in order to remain in business and have a sustainable and a new market.

TABLE OF CONTENT

Title pagei

Declarationii

Approval pageiii

Dedicationiv

Acknowledgementv

Abstractvii

Table of Contentsviii

CHAPTER ONE

1.1Introduction1

1.2Objectives of the Essay5

1.3Significance of the Essay6

1.4Scope of the Essay6

1.5Limitations of the Essay6

CHAPTER TWO

Literature Review8

2.1The Cost of Production of a new product33

2.2The Meaning of a new product36

2.3The Need for a new product development37

2.4The product development stages37

2.5The product life cycle and new product40

CHAPTER THREE

Summary, Conclusion and Recommendations

3.1Summary43

3.2Conclusion44

3.3Recommendations45

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THE IMPACT OF NEW PRODUCT DEVELOPMENT IN AN ORGANIZATION

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