PRODUCT AS AN IMPORTANT TOOLS OF IMPROVING THE PROFITABILITY OF AN ORGANIZATION
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TITLE PAGE
PRODUCT AS AN IMPORTANT TOOLS OF IMPROVING THE PROFITABILITY OF AN ORGANIZATION
BY
---
EE/H2013/01430
DEPARTMENT OF ----
SCHOOL OF ---
INSTITUTE OF ---
DECEMBER,2018
APPROVAL PAGE
This is to certify that the research work, "product as an important tools of improving the profitability of an organization" by ---, Reg. No. EE/H2007/01430 submitted in partial fulfillment of the requirement award of a Higher National Diploma on --- has been approved.
By
--- . ---
Supervisor Head of Department.
Signature………………. Signature……………….
……………………………….
---
External Invigilator
DEDICATION
This project is dedicated to Almighty God for his protection, kindness, strength over my life throughout the period and also to my --- for his financial support and moral care towards me.Also to my mentor --- for her academic advice she often gives to me. May Almighty God shield them from the peril of this world and bless their entire endeavour Amen.
ACKNOWLEDGEMENT
The successful completion of this project work could not have been a reality without the encouragement of my --- and other people. My immensely appreciation goes to my humble and able supervisor mr. --- for his kindness in supervising this project.
My warmest gratitude goes to my parents for their moral, spiritual and financial support throughout my study in this institution.
My appreciation goes to some of my lecturers among whom are Mr. ---, and Dr. ---. I also recognize the support of some of the staff of --- among whom are: The General Manager, Deputy General manager, the internal Auditor Mr. --- and the ---. Finally, my appreciation goes to my elder sister ---, my lovely friends mercy ---, ---, --- and many others who were quite helpful.
PROJECT DESCRIPTION: This work "product as an important tools of improving the profitability of an organization" research material is a complete and well researched project material strictly for academic purposes, which has been approved by different Lecturers from different higher institutions. We made Preliminary pages, Abstract and Chapter one of "product as an important tools of improving the profitability of an organization" visible for everyone, then the complete material on "product as an important tools of improving the profitability of an organization" is to be ordered for. Happy viewing!!!
Marketing has become an important subject in the modern business that ensures propensity and profitability of firms. Although sometime it is hard to establish the contribution of marketing in the realisation of profits or benefits attained by the firm, yet the contribution of each practice, including marketing, in management of the firms can be scientifically projected. This article posses some discussions on the importance of marketing on profitability of an organization.
The contribution of marketing has been assessed on the increment of the number of students that is related with marketing. We used interview and documentation as the major data collection instruments. The data have been analyzed through descriptive strategies. Narrations have been employed to indicate the prospective profits of the named organization. The study concludes that marketing is the key in fostering business in modern society, and that the type of marketing strategies is worthy in determining the increase of students. Hence, application of various strategies has to be applied intelligently in order to meet the requirement of the segmented populations. In addition, it recommends that more researches should be pursued to realize the extent to which non-educated entrepreneurs perceive the influence of marketing in their firms.
TABLE OF CONTENT
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Table of Content v-vii
Chapter One
- 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
Chapter Two
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
Chapter Three
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
Chapter Four
4.0 Presentations and Analysis of Data Collection 54-57
4.1 Products and its Profitability to
Nigerian Bottling Company 57-59
Chapter Five
5.0 SUMMERY, RECOMMENDATION AND CONCLUSION AND REFERENCE 60
5.1 Summary 60-62
5.2 Recommendation 62-64
5.3 Conclusion 65-68
References 69-70
Questionnaire 71-73
CHAPTER ONE
1.0 INTRODUCTION
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 11is 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, honour 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:
1, To give the primary meaning of product in the real marketing Concept .
2. To clearly give an understanding of what makes product and its stages in life.
3. To find out the implementation and how effective the product marketing strategies are in.
4. To know what dictates of facilities the adoption in any of the strategies
5. To examine the strategies that keeps the company in operation
6. To clearly examine the impact of profit to the organization
7. To highlight some problem being encountered generally and specifically by the company
1.2 SCOPE OF THE STUDY
This project will go a little ay in explaining what the products comprises and what make it features as a product. Also, it will go along way in bringing product to the appropriate market that fits its survival has already been said proposal of his project.
References will be made particular to Nigeria bottling company as a manufacturing company while other illustration to make the study a more explanatory and explicit on will be drawn from other manufacturing companies in general through interviews which will conduct through the use of structured questions.
1.3 LIMITATIONS OF THE STUDY
Actually, in life, no matter how sufficient or blessed one is, there will be some obstacles n the course of one trying to survive, the journey to the completion of this project was not a exception because it was not a bed of rose.
The limitations encounter in the process are as follows:
Financial Predicament: Normally money is not very easy to come by, not to talk of during this period of economic hardship, the cost of the printing, stationeries, traveling or collect information about the study was not as easy as it should have been in view of this had to manage the little had and that was why the finding could not be more than this.
- 4 DEFINITION OF KEY TERMS AND CONCEPT.
Products: A product is a set of tangible and intangible attributes including packaging styling, pricing, quality and branding including the sellers services and reputation. A product may be goods, services, or place.
Profits: profit are higher difference between revenues derived from the sales of commodities and the cost of producing these commodities.
Market: it is a particular group of people and organization that have a common wants and needs satisfying good or services.
Product mix: it is composite of product offered for sale by a firm.
Business unit these are branding, packaging price, features styling etc.
Product customization: this is a system for making product very close to customer in order to increase profitability .
Cannibalism: this is the danger that the addition of new product cut into the sale of existing.
Planned obsoleteness: this means to deliberately force a product in the line to become out for date and increase the new product market.
P M S: means product market strategies.
Re-merchandising: this is the situation where by the basic features of a physical product is left unchanged but changes are made in accompanying services etc guarantee.
Hypothesis: this is tentative assumption made in order to draw out and lost a logical and an empirical statement
Null Hypothesis [Ho]: this is the hypothesis of change , no change in what is tested for .
Alternative hypothesis [H1]: this is the hypothesis of change
1.5 PLAN OF THE STUDY
Chapter one is made up of the background of the study, term and concept, objective of the study, scope of the study, limitation of the terms, research methodology and plan of the study.
Literature Review
This chapter talks about the summary of the writings of recognized authorities and of previous research findings relating to the research problems, one intends to investigate, it also examine the work of farmers scholars on research work related to this study.
Chapter Three
This chapter is basically on research methodology which treats in detail the method applied in collecting data used for the research analysis and how the research is conducted.
Chapter Four
This chapter deals with the presentation and analysis of the data collected from the respondent through the questionnaire.
Chapter Five
CHAPTER TWO: The chapter one of this work has been displayed above. The complete chapter two of "product as an important tools of improving the profitability of an organization" is also available. Order full work to download. Chapter two of "product as an important tools of improving the profitability of an organization" consists of the literature review. In this chapter all the related work on "product as an important tools of improving the profitability of an organization" was reviewed.
CHAPTER THREE: The complete chapter three of "product as an important tools of improving the profitability of an organization" is available. Order full work to download. Chapter three of "product as an important tools of improving the profitability of an organization" consists of the methodology. In this chapter all the method used in carrying out this work was discussed.
CHAPTER FOUR: The complete chapter four of "product as an important tools of improving the profitability of an organization" is available. Order full work to download. Chapter four of "product as an important tools of improving the profitability of an organization" consists of all the test conducted during the work and the result gotten after the whole work
CHAPTER FIVE: The complete chapter five of design and construction of a "product as an important tools of improving the profitability of an organization" is available. Order full work to download. Chapter five of "product as an important tools of improving the profitability of an organization" consist of conclusion, recommendation and references.
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