PRODUCT AS AN IMPORTANT TOOLS OF IMPROVING THE PROFITABILITY OF AN ORGANIZATION (A CASE STUDY OF NIGERIA BOTTLING COMPANY, ILORIN, KWARA STATE )
TABLE OF CONTENT
Title Page i
Table of Content v-vii
- Introduction 1-3
1.1 Objective of the Study 4
1.2 Scope of The Study 5
1.3 Limitation of the Terms 5-6
1.4 Definition of Terms 6-8
1.5 Plan of the Study 8-9
2.0 Literature Review 10-12
2.1 Meaning of Product 12-13
2.2 Classification of Product 14-15
2.3 Product Development and Failure 16
2.4 Product Development Process 16-19
2.5 Stages of Product Life Cycle 20-23
2.6 Market Strategies and Analysis 23-28
2.7 Product Markets Strategies 28-38
2.8 Advantages of Strategy 38-39
2.9 Problem and Limitation of Strategies 39
3.0 Research Methodology 40-44
3.1 Statement of Hypothesis 44-46
3.2 Procedure of Data Collection 46-47
3.3 Method Used 48-50
3.4 Historical Background of NBC Ilorin 50-51
3.5 Organization Structure of Nigeria Bottling Company 51-53
4.0 Presentations and Analysis of Data Collection 54-57
4.1 Products and its Profitability to Nigerian Bottling Company 57-59
5.0 SUMMERY, RECOMMENDATION AND CONCLUSION AND REFERENCE 60
5.1 Summary 60-62
5.2 Recommendation 62-64
5.3 Conclusion 65-68
Any organization that wants to remain in operation must produce something [goods or services] .Not just producing ,but producing what the people want and make it available at an economic and reasonable once the success of any organization therefore depends solely on what it offer to the target market.
There are concept to be adhered to increased the profit level of and organization ‘An organization needs to develop implement and monitor a systematic marketing plan .the marketing mix is the center of or the planning activities of the organizations returned the 4ps 11 is product , places ,promotion ,and price from which his write up will be base on ‘’product’’ as an important tool of improving the profitability.
Product does not only mean the physical or visible part of an article as a layman may view it , but it consist of psychological features which qualities it to be consideration an anything [good and services] worthy to be given a monetary value for utility given or derived from it.
As the topic indicate , products is one of the tools at the disposal of a marketer to increase the profit of an organization and it comprises of features such as branding and packaging and concept like formal , core and augmented product .every business organization existence depend on the success of its products. Therefore a product cannot jest occur , it involve a lot of activities like planning organizing etc to develop a product
Product can be likened to a seed that was planted on a prepare ground and with constant weeding and wetting ,which , and germination and growth up to maturity level for harvesting this harvested crop are then transformed into food materials . that supply the nutrient needed by the body invariably , a product develops from stage in the market while the other of the marketing mix works towards it success . it should be also emphasized that the success of a product brings prestige, honor and glory to the company while is failure bring shame , loss regret to the company may even loose its corporate identity.
In actual fact ,no product has a permanent stay in market for life or a single stage as the product will have to pass through has series stage ,as the product during is existence ,the stage are the introductory growth , maturity and declining stage .A product with effective marketing plan will enjoy and stay longer in the market because of good marketing strategies.
The market is usually large, this company must develop products that would be acceptable to the various member of the market that have been segmented according to their needs.
This project will provides a guideline on the tools needed to effectively manage a product through constant monitoring of the market that fits their product and adjust the product to meet the taste of the target market
1.1 OBJECTIVE OF THE STUDY .
This project aims at achieving the following objectives: