THE EFFECT OF PRODUCT PLANNING AND DEVELOPMENT IN THE GROWTH OF ORGANISATION
(A Case Study Of Smithkline Glaxo Nigeria Plc)
This research examined The Effect Of Product Planning And Development In The Growth Of Organisation with special reference to Smithkline Glaxo Nigeria Plc. The research adopted survey research design. Data were gathered through primary source with the aid of a well-structured questionnaire. Simple random sampling technique was adopted in the selection of sample, this was used to eliminate biasness in the selection process of the respondents.
Data garnered were presented on table using percentage and the formulated hypotheses were analysed with the used of Chi-square statistical method. The result of the analysis shows that appropriate product planning and development havehelped in the achievement of corporate objective, The increase in the market share of an organization’s product was Due to an effective product planning and development, Proper product planning and development has helped to Prevent a heavy unbearable loss to the firm, appropriate product planning and development has helped positively in the achievement of profitable sales operation in an organization.
Based on the conclusion of the analysis recommendations were proffered to the staff and management of Smithkline Glaxo Nigeria Plc.
TABLE OF CONTENT
CHAPTER TWO: REVIEW OF RELATED LITERATURE
CHAPTER THREE: RESEARCH METHODOLOGY
CHAPTER FOUR: ANALYSIS, INTERPRETATION AND PRESENTATION OF DATA
4.0 Data Presentation and Analysis
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
Thus, it is a common saying “failure to plan is planning to fail”. There is nothing on earth that does not need appropriate planning. If such thing determined goal must be achieved. Appropriate planning is one of the most important aspects of a product life cycle. As it is proper for somebody who intends to build a house, to draw a plan of the house whether such building will be a two bedroom flat or bungalow or a multirooms type. He has to decide within himself and also make a rough sketch of the total cost of every thing for such a house. As such, it is quite very important for an organization intending to develop a product to make a necessary and adequate planning for such product.
Considering the multi-dimensional nature of consumers demand, it is therefore an essential for an organization to carry out all necessary pre-product development before introducing a new product to the market and determine the appropriate time to supply the product so as to regulate the product in the market.
Examining the intense competition in must industries today. Companies without new product ideas and new product development strategies are exposed to great risk of new product or existing product decline by way its product lifecycle and the outright closure.
The success of new products is always constraints by the following factors:
The scope of appropriate product planning and development includes making decision in the following area: -
A Which product should the company produce?
B. Should the company market more or fewer product?
C. What brand, package and label should be used for each product?
D. How should the product be style, design and in what sizes, colors and materials should it be produced?
- What new users are there for each product?
- How should the product be priced?
The purpose of this research is on the effect of product planning and development in the growth of an organization. The research is to:
1.5 RESEARCH HYPOTHESES
Hypothesis can be defined as a tentative statement about the relationship that exists between two or more variables and such statement are conjectured that must be validated.
There are two types of hypothesis, which are null hypothesis and alternative hypothesis.
The null hypothesis, which is null hypothesis, is denoted by (Ho) while the alternative hypothesis is denoted by (Hi).The alternative hypothesis is accepted while the null hypothesis indicates rejected.
The research hypothesis is thus:
1. Ho: Appropriate product planning and development have not helped in the achievement of corporate objective
Hi: Appropriate product planning and development havehelped in the achievement of corporate objective
2. Ho: The increase in the market share of an organization’s product was not due to an effective product and planning and development.
H: The increase in the market share of an organization’s product was Due to an effective product planning and development
3. Ho: Proper product planning and development has not helped to prevent a heavy unbearable loss to the firm.
Hi: Proper product planning and development has helped to Prevent a heavy unbearable loss to the firm.
4. Ho: Appropriate product planning and development has not helped positively in the achievement of profitable sales operations in an organization.
Hi Appropriate product planning and development has helped positively in the achievement of profitable sales operation in an organization.
1.6 SIGNIFICANCE OF THE STUDY
This study is subject to the following limitations
(a) The study was limited to sample of pharmaceutical companies only in Lagos. These basically were pharmaceutical companies that developed new products with headquarters in Lagos.
b. There is inadequate finance to embark in gathering primary date for this research work. So it is restricted on some few pharmaceutical companies.
(c) The time available for completion of this study was very short in carrying out and receiving information in writing of this project.
Alternatively, organization can also be defined as those activities directed at organizing i.e. organization is the outgrowth of organizing which is the process of arranging the organization resources into the best possible relationship so as to accomplish the objectives of the organization.
(ii) PRODUCT DEVELOPMENT: - Product development is the creation adjusted of goods and services to satisfy consumers demand.
(iii). PLACE OR CHANNEL OF DISTRIBUTION: - This is a set of institution, which participates, in the marketing activities undertaken in the movement of goods and services from point of production to point of consumption. In a nutshell, price under marketing mix may be defined as a point of interaction between the buyer and services where production are being offered for sale for consumption
(iv). PRICE: - Price can be defined as the monetary value or consideration that a seller placed on a product and at the same time, what the buyer is ready to part away with for a given product over a specific period.
From product attributes, the following should be given adequate attention:
This usually leads to freedom in pricing and large production profit. The demand curve for such product is in elastic in that the price and total revenues moves in the same direction.
1.9 HISTORICAL BACKGROUND OF SMITHKINE GLAXO
Smith Kline Glaxo formerly SmithKline Beechem: is a foreign company that has been in existence since one and half century age. It is a company, which has it’s headquarter at United Kingdom (UK). SmithKline Glaxo is a company owned by Thomas Beechem.
A research was carried out in united state of American after twenty years. The result of the research led to the establishment by Glaxo, it subsidiary in Washington D.C in the middle of nineteenth century.By 1958 SmithKline was operating in both United Kingdom and the United States of American and it developed from strength to strength in terms of sales, Profit making and market coverage compared to what the situation was like prior to its establishment in the United States (US). In the late nineteenth century, Glaxo has also extended its tentacle to Germany. Belgium and Italy.
SmithKline Glaxo came to Nigeria in different ways, before its incorporation, it engaged in the direct important of some products to Nigeria. In doing that, it employed the services of some agents who sold its product on its behalf. The immediate acceptance and the increase in its sales made SmithKline to set in motion, the machinery of establishing Beechem in Nigeria. Eventually, the registrar of companies in Nigeria
STAFF STRUCTURE OF SMITHKLINE GLAXO NIG PLC.
The staff structure of Glaxo Nigeria PLC reveals that, it is a line staff organization. The top most head of the company is the board of directors (BOD). The board of director is then followed by the managing director who has a line relationship with other managing managers, which include: the marketing directors, finance& accounts directors, and plant manager. Personnel manager, procurement manager, research manager and other staff. This combination of line staff organization show that each officer on the horizontal line is directly responsible to the managing director of the company while he is responsible to the board of directors.
Moreover, the line staff organization structure run by Glaxo Nigeria PLC gives room for interaction between one management officer / workers to another. It can also enhance and the use of specialist.
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