The Impact Of Marketing Research On New Product Development
[NIGERIA BOTTLING COMPANY]

CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1    SUMMARY OF FINDINGS
    This research work focused on impact of marketing research on new product development in which Nigeria Bottling Company Plc was chosen as a case study.
    This company engage in diverse business activities and collecting information on its marketing research functions.
    Marketing research contributes to the decision making process in all aspects marketing activities since it aid specifies the method of collecting information required to address marketing issue, development of new product, design the method of collecting information, analyzing the result and communication and finding their implications.
    Marketing research is an important part of the operation of the company, and it provides adequate market analysis and feasibility of market situations. Company on vital role of competent marketing research on new product development and other marketing problems.
5.2    CONCLUSION
    Marketing research is an integral part of operation in the organization, particularly manufacturing company.
    It is more difficult for management to take the right marketing decision without conducting a sound marketing research.
    Marketing research implies a discipline approach to marketing problem of various kinds with the development of new product and business.
    Nigeria Bottling Company Plc is now changing over to marketing concept, that is orientation on how to determine the needs and wants of target market and this assist the organization into delivery desired satisfaction more effective and efficiently than its competitors.
    Therefore, to be able to operate within this concept, Nigeria Bottling Company Plc needed information both internal and external environment to guide in developing new products, improving the existing one, fixing product prices and generally making accurate decision on all their marketing activities.
    All information can only be achieved through integrated marketing research.
5.3    RECOMMENDATIONS
    With the basic perception of marketing research as the source of information for decision making in all management cannot be overemphasized. The dynamic organization like Nigeria Bottling Company Plc should continue to adopts the marketing research techniques for findings solutions to their basic marketing problems, rising from product qualities to distribution strategies problem.
    However, it is suggested that Nigeria Bottling Company Plc should explore the possibility of spreading their Africa or Asia. This could be achieved by conducting marketing research survey in specific countries of interest, so as to determine later need; buying behavior and reaction to pricing and promotion. It is a paramount important for any company who wish to succeed to employed qualified engineers and experts in various aspect.
    The company formulate its marketing programs and strategies with information obtained from comprehensive marketing research projects.
    The product acceptance by consumer is a function of marketing research product testing is one of the classical forms of marketing research apply by the company at providing a feedback on New product developed and launched in the market. Since product tested are identical, the response can honestly be kind of appeal and responsiveness. By integrating product testing programme into management analysis and decision models, future of product testing in dearly assured.
    It is a known fact that marketing research is widely accepted, the management reluctance in financing and supporting marketing research and even ignore research finding very often.
    They view the researchers as a narrow fact/finding operating or as to abstract to a large extent and time consumption, there is continuing need to educate and enlighten the executives of the field. Whose service is inevitably required to carried out all the technical activities of product development in the company.
    There is need for a constant proper product planning and development as this may contain any likely problem that may arise in long run.
    There is need for a constant review of standard as dedicated by standard organization of Nigeria. Since quality is measure of how closely a product confirm to specified standard.
    Lastly, worker should be well motivated, provided them incentives and allow that will ignite them to be more productive and dedicated to work.