AN EVALUATION OF THE USE OF PRODUCT PLANNING AND DEVELOPMENT AS A COMPETITIVE STRATEGY IN TOTAL NIGERIA PLC
AN EVALUATION OF THE USE OF PRODUCT PLANNING AND DEVELOPMENT AS A COMPETITIVE STRATEGY IN TOTAL NIGERIA PLC
No Thumbnail Available
Date
2006-11
Authors
Abu, YAHAYA.
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
ABSTRACT
This project examines product planning and development as a competitive
strategy. It also examined the survival of companies and the survival
strategies. Companies must survive and how are companies going to
survive? It Must remain and continue in business. One of the major
strategies for survival is product planning. New products are the future of
any business and without a continuous flow of a new product, the
marketing system could probably die. Because new product is compulsory
to keep a business abreast. In harsh marketing environment, every company
should therefore develop a new product to be able to stay in business.
7
Customer’s needs and wants are dynamic they keep on changing, it is the
social and economic function of an organization to satisfy their customers
needs and wants.
Products are planned and developed to accomplish certain objectives which
may be to increase the sales volume of a firm, profit maximization, to gain
competitive advantage, to maintain and improve market share and establish
a future market for their product. It is deemed necessary for every
organization to embark on product planning and development if for no
other reason that some existing company product will enter the decline
stage.
Simple percentage was used to ascertain if the use of product planning and
development as a competitive strategy in total Nigeria plc has a negative or
positive effect Based on the deductions and conclusions that will be made
after analyzing data, the researcher recommended that product planning and
development should be a continuous process so as to enable the company
to cope with changes in technology and the competitive environment. Also,
the company should improve on her existing product line to offer more
advantages or usefulness to loyal customers who are ready to continue with
purchase irrespective of the attractive offers made by competitors
Description
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA.
Keywords
EVALUATION,, PRODUCT,, PLANNING,, DEVELOPMENT,, COMPETITIVE, STRATEGY,, TOTAL,, NIGERIA.