Marketing research and new product development a case study of Mukwano group of companies, kampala :

Thumbnail Image
Journal Title
Journal ISSN
Volume Title
Kampala International University, College of Economics and Management
The study examined the relationship between marketing research and new product development taking Mukwano Group of Companies as a case study. The research also capitalized on three objectives which required determining the effect that customer analysis contributes to new product development, determining the effect of market segmentation on new product development, and establish the relationship between marketing strategy and new product development. The study employed stratified, simple random and purposive sampling techniques to draw representative samples and a sample size of 6o respondents was determined from a population of 71 members using Slovin’s Formula. Closes-ended questionnaires with five point likert scale were used to obtain response. During this research data was carefully collected, classified and analyzed using frequency tables and data was summarized using graphs and charts. The findings of the study revealed that there is a relationship between marketing research and New Product Development (NPD). This was attributed to the fact that marketing research acts as a tool to thoroughly understand the market too which new products are to be sold. In this case, marketing research addresses the issues relating which customers to buy, which product to introduce, at which price to sell, and when to introduce such a product to the market. The two variables also relate in such a way that it is thrush marketing research that continuous monitoring and identification of risks against new products are ascertained. The other elements of marketing research which included market segmentation and customer analysis were found to be great factors for success of new products if well implemented. Finally, the researcher suggested some recommendations which included prior studying customers and their markets and dividing the markets in heterogeneous groups to be able to properly serve the market. The researcher also recommended that there should be stakeholder involvement where all necessary individuals are involved in deciding which marketing strategy to employ for a certain product.
a research report submitted to the college of economics and management in partial fulfillment of the requirements for the award of a bachelor’s degree in business administration (marketing option) of kampala international university.
Marketing research, product development