STRATEGIES FOR INTRODUCING A NEW PRODUCT IN THE MARKET - [Version 2]

    This research work was a study of how to introduce a new product in the market.
The main objective was to determine whether the strategies used to introduce Cristolyn Cough Expectorant in Umuahia Metropolis was effective or not.  The research also looked at how the project is fairing in the market.  Both primary and secondary data were collected to solve the research problem.
    The population study comprised the consumers, distributors, and personal of Encristo Pharmaceutical Company Limited.  The research instruments used for data collection were questionnaire and oral interview.
    Tables frequencies and percentages were used in presenting and analyzing the data collected. Chi-square statistic was used to test the various hypotheses since this was a test of goodness of fit.
    Based on the data analysis, the researcher came up with the following findings:
-    The product was test marketed for a period of five months before it was officially launched on September 8, 1997.

-    During the time of introduction, both radio jingles, posters, stickers etc. were used.

-    Most of the consumers interviewed said that they are aware of the products existence and that the quality and tests is good.

-    Company's personnel believed that the strategies used to introduce the product has been effective

-    Most of the distributors interviewed should their willingness to distribute the product.
    In conclusion, the researcher believes that the product have been accepted and is moving well in the market.

Title page
Dedication
Acknowledgement
Abstract
Table of contents
List of tables

Chapter One    -    Introduction
Background of the Study
Historical background of Encristo Pharmaceutical
Statement of Problem
Objective of the Study
Hypothesis
Significance of the Study
Scope of Study
Definition of Terms

Chapter Two    - Literature Review
Meaning of a New Product
Why company Develop and Market New Product
Manufacturers Criteria for New Product
Requirements for Successful New Product
Product Planning and Development
Product Development Strategy
Pro-active Product Development Strategy
Re-active Product Development Strategy
New Product Development Process
Generation of New Product Ideas
Screening of Product Ides.
Concept development and Testing
Marketing Strategy Development
Business Analysis
Product Development
Market Testing
Launching and Commercialization
New Product Adoption
Variables Making for lack of Success in the Development and Marketing of New Product
Ways Companies Avoid New Product Failures

Chapter Three    -    Research Methodology
Sources of Data
Population of Study
Sample Size Determination
Sample Size for Consumers
Sample Size for Company Personnel
Sample Size for Distributors
Sampling Technique
Instruments for Data Collection
Questionnaire Allocation and Administration
Method of Data Treatment and Analysis

Chapter Four    -    Data Presentation and Analysis
Data Presentation and Analysis
Hypothesis Testing

Chapter Five    -   
Discussion of Findings, Conclusion and recommendation
Summary of Findings
Conclusion
Recommendation
Suggestion for further Studies
Limitations of the Study

Bibliography
Appendix ‘A’ Consumer Questionnaire
Appendix ‘B’ Distributors Questionnaire
Appendix ‘C’ Personnel Questionnaire


                LIST OF TABLES

4.1    Return rate of consumer’s questionnaire
4.2    Consumers awareness of the new product
4.3    Proportion of respondents who have either tested or consumed Cristolyn Cough expectorant.
4.4    Number of times consumers have consumer the product.
4.5    Consumers rating of the quality and taste of the product.
4.6    Consumers indication on whether they will continue buying the product as it is.
4.7    Response of the consumers on whether the quality and taste of the product satisfied them like other brands of Encrito pharmaceutical Ltd.
4.8    What consumers think about the brand name “Cristolyn Cough Expectorant”.
4.9    Consumer general rating of the product
4.10    Personnel response as to whether the strategies used to introduce the product in the market have been effective
4.11    Personnel response as to whether the product has been well received by consumers.
4.12    How personnel rate the performance of the products project.
4.13    Distributors indication on whether they will distribute the new product
4.14    Distributors statement about the quality and taste of the product.
4.15    Distributors indication on whether they will distribute the new product.
4.16    The initial promotools used to introduce the product in the market.
4.17    Promotools used now to move the product.