STRATEGIES FOR INTRODUCING A NEW PRODUCT IN THE MARKET (A CASE STUDY OF ENCRISTO PHAMACEUTICALS LIMITED IN ENUGU)
The research work was on 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 Enugu was effective or not. The researcher also looked at how the product is fairing in the market. Both primary and secondary data were collected to solve the research problem.
The population study comprised the consumer and personnel of Encristo Pharmaceutical company limited Neugu.
The researcher instrument used for data collection is questionnaires.
Tables, frequencies and percentages were used in presenting and analyzing the data collected.
Based on data analysis, the researcher come up with the following findings.
The product was test marketed for a period of five moths before it was officially launched on September 8, 1997.
During the time of introduction both radio, Poster, Sticker
etc. were used.
Most of consumer interviewed said that they were aware of the product is existence and that the quality and test is very good.
Company’s personnel believed that the strategies used to introduce the product have been effective.
In conclusion, the researcher believes that the product have been accepted ad is moving well in the market.
TABLE OF CONTENTS
Table of contents
Background of the studies
Statement of the problem
Objective of the study
Scope of the study
Significant of the study
Design of the study
Population of the study
Development of research materials
Treatment of data
PRESENTATION AND ANALYSIS OF DATA
Summary of findings
BACKGROUND OF THE STUDY
The objective of any organization is to create customers and satisfying them at a profit that is, producing goods and service that will satisfy the needs, wants and derives of the customer and making a profit which will enable the company to survive. The purpose of any business must lie in the society since a business enterprise is an organ of the society.
It is the customer that determines what a business is, for it is the customer and he alone, who through being willing to pay for goods or for services. Convert economic resources into wealth, things into good.
Any business must find out what its market is, who the customer is, where he is, what he considers value, what his unsatisfied wants, how does he buy and how can he be reached, it is the duty of the company to provide what the customers need.