CHAPTER ONE

INTRODUCTION

1.1  BACKGROUND OF THE STUDY

Product plays a central role in the activities of all organisations it is the medium through which an organisation achieve the actual objectives of maximizing consumers and organisational satisfaction. Modern marketing practice commences by monitoring the nature of the consumer needs and then deploy one. Resources in a manner consistent with maximizing the return on assets employed. However, the medium through which the firm attempts to maximize its objectives is the product. In an attempt to keep peace with the growing competitive market environment, business are constrained to adopt different intensive growth strategies among which include product development, and modification have assumed innovation bearing in the face of prevailing market competitive. More so, the need for companies to overcome the impending dangers posed by present economic recession calls for product development that will lead to attaining a reasonable return on investment.

Finally, this study has borne out of the desire to examine the relevance of product development and management in a manufacturing company, taking a case study of the Nigeria Bottling Company Plc, Benin City.

1.2  STATEMENT OF PROBLEM   

There is little doubt that awaits the innovative firm whose intent is searching widely for new product ideals and evaluating those on a systematic basic but success will not follow from installation and carrying procedures along. Much responsibilities devolve on management not only to create a prosperous climate for thinking about the desirability of proceeding when static formular can not provide clear answer.

The problem therefore has on the following pertinent question.

1)  How can packing be used as an insurance against a decline of interest in the existing brand of soft drink?

2)  In using multi-brand strategy, is it possible to predict consumers acceptance of the newly created brand on the basis of their loyalty to the old brand.

3)  Can the expectation from packing as a silent salesman be realized.

4)  Can product differentiation be used successfully in a long term without leading the predictable reaction the competitors can either emulate or improve upon this more preferred offering.

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