• The Impact Of Marketing Research On New Product Development
    [NIGERIA BOTTLING COMPANY]

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    • 5.    Conviction: This is the stage where the doubt in consumers’ mind about buying the product of your brand needs to be converted into action. Marketers can aid in this step by giving out free samples, test drives etc. this step should also decide if the consumer will stick to your brand i.e. actually buy your brand, or switch after testing the sample. For example, Tina tried the brush you gave her for a month and then when w she can pay, youtime came to buy one, she brought an Oral B one. Make sure that doesn’t happen and that trial builds loyalty. Incorporate such unique features in your brand that will encourage purchase.
      6.    Purchase: The last and the most crucial stage of the consumer buying cycle is the purchase. You need to make sure that purchase experience is easy and perhaps even enjoyable for the consumer. Some of the ways to encourage purchase is by keeping simple and multiple paying options, making the product available easily, easily to understand usage instructions, offers etc. for example, now that Tina has decided to buy your brand after trying it out for a month, make sure she know where to buy it from and how she can pay. You may also give her a tube of toothpaste free to delight her.
      The main aim of this tool that serve as a marketing communication tool is to encourage consumer to go through the six steps that end in purchase of product. It is not necessary that consumers always go through all the six steps but the aim is to land a purchase. Hierarchy of effects of consumer behavior stages
      Lavidge and Steiner further grouped these six stages into three main stages of consumer behavior.
      -    Cognitive
      -    Affective
      -    Conative
      1.    Cognitive: Also called the thinking “stage, this is where the consumer gather knowledge about the product and becomes aware of it. This can be said to be a rational step where pros and cons, product specifications etc. of a product are evaluated.
      2.    Affective: Also called the “feeling” stage is when the consumer starts developing a liking for the product, and may even develop strong positive (or negative feelings toward it.
      3.    Conative: This is “behavior” stage of the process. This is when the consumer, after weighing the pros and cons, and deciding his/her preference actually buys the product.
              The model is named so because of the fact that the buying process is a step by step process where the number of people willing to participate at each level keep decreasing. Say you started with 10 people who are aware of your brand, 5 people who considered buying it and only 2 of those 10 actually bought the product.
              The hierarchy of effects model is a model which tells advertisers to make an advertisement in such a way that the customer goes through all these six namely awareness, knowledge, liking, preference, conviction and purchase.

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    • ABSRACT - [ Total Page(s): 1 ]Abstract coming here soon ... Continue reading---

         

      CHAPTER ONE - [ Total Page(s): 3 ]CHAPTER ONE1.0    INTRODUCTION 1.1    BACKGROUND TO THE STUDY Marketing research is a systematic design, collection, analysis and reporting of data finding relevant to a specific marketing situation facing the company. It is also the activity of presenting, advertising and selling a company product in the best possible way. Marketing research is also a systematic approach to the development and provision of information for marketing decision making. The collection and provision of informat ... Continue reading---

         

      CHAPTER THREE - [ Total Page(s): 1 ]CHAPTER THREE 3.0    RESEARCH METHODOLOGY 3.1    RESEARCH POPULATION AND SAMPLE     Research population simply means the total number of people or things of organization in a specified geographical areas since it is very difficult to conduct a research using the whole population. The population of this study is made up of the entire staff, customers and middlemen dealing with Nigeria Bottling Company Plc size it is impossible to investigate the entire population a sample was drawn.    ... Continue reading---

         

      CHAPTER FOUR - [ Total Page(s): 5 ]As shown above there are more male than female Nigeria Bottling Company because male account for 60% while female account for 40%.In the above table 26% of the respondents are single and 75% are married. The researcher observed that nearly all the respondents are married. The marital status of workers maternity leave on for higher pay in order to meet their home needs. ... Continue reading---

         

      CHAPTER FIVE - [ Total Page(s): 1 ]CHAPTER FIVESUMMARY, CONCLUSION AND RECOMMENDATIONS5.1    SUMMARY OF FINDINGS    This research work focused on impact of marketing research on new product development in which Nigeria Bottling Company Plc was chosen as a case study.    This company engage in diverse business activities and collecting information on its marketing research functions.    Marketing research contributes to the decision making process in all aspects marketing activities since it aid specifies the method of ... Continue reading---

         

      REFRENCES - [ Total Page(s): 1 ]REFERENCES Adred, B.D (2002). Marketing Research Analysis and Measurement. C.U.S.A Abarns Publishing.Betrand, J.W (1996). Marketing Research Analysis, London, John Willy and Sons. Fatigun, J.O (2008). Research Methodology, Ilorin, Adewunmi Printing Press. Lockley, L.C (2000). History and Development of Marketing. U.S.A Mc Graw Hill Book.Patrick, M.D (2000). What are new product? Journal of Business Planning U.S.A Prentice Hall Inc. Predical, W. (2001). Marketing Analysis. U.S.A Mc Graw Hill Book ... Continue reading---