NEW PRODUCT DEVELOPMENT: REASONS AND MARKETING STRATEGIES TOWARDSCUSTOMER SATISFACTION (A CASE STUDY OF DANGOTE NIGERIA PLC, NORTH-EAST ZONAL OFFICE, MAIDUGURI BORNO STATE) - Abdulfatah Odua
NEW PRODUCT DEVELOPMENT: REASONS AND MARKETING STRATEGIES TOWARDSCUSTOMER SATISFACTION (A CASE STUDY OF DANGOTE NIGERIA PLC, NORTH-EAST ZONAL OFFICE, MAIDUGURI BORNO STATE)
Abdulfatah Odua
Department of Business Administration,
Adamawa State University, Mubi Adamawa State, Nigeria
ABSTRACT
The study titled: New Product Development: reasons and Marketing Strategy (A
Case Study of Dangote Nigeria Plc, North-East Zonal Office, Maiduguri, Borno State)
was carried out to find out what constitute new product by looking at the attributes
that constitute a product, the reasons why organizations introduce new
products/service into the market other than for profit making which is the general
belief by many and the various marketing strategies that are applied to the products
right from when it is introduced into the market up to the decline stage of the
product. The study adopted the survey research design where six (6) respondents
from Dangote Zonal Office where randomly and proportionately issued with
questionnaires. The finding revealed customer need, want and taste are not usually
seek before production, again, it revealed that organizations do not plan there
marketing strategy for there products. The study concluded by recommending
among others that organizations should seek consumer need, want and taste before
embarking on production, management should have planned marketing strategy for
the product at all level of its life which will include withdrawing bad brands, improve
upon them, rename them to reflect improvement on them.
Keywords:- New Product, Marketing Strategy, Customer, Need and Wants.
INTRODUCTION
A product according to Kotler and Armstrong (2010) is "anything that can be offered to a
market for attention, acquisition, use or consumption that might satisfy a need or want." They
further added that product is more than just tangible objects, but also include service (intangible).
Similarly, Kotler and Keller (2009) defined product as "anything that can be offered to a market to
satisfy a want or need" they pointed out that it includes physical goods, services, experiences,
events, places, persons, properties, organizations, information and ideas. Again, Lancaster and
Massingham (2001) sees product or anything that can be referred to as a product as "anything or
item that can be considered as a separate product entity and that may be distinguished in some
way from other products that the company produces, irrespective of its relationship to those other
products." From the above it can be seen that the target of marketing is to satisfy human need
and want at a profit. However, as the needs and wants of customers changes, marketer must
ensure that they continue to innovate new products in other to meet with the changes
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