AN ANALYSIS OF THE IMPORTANCE OF MARKETING INFORMATION SYSTEM IN NEW PRODUCT DEVELOPMENT AND PLANNING (A CASE STUDY OF BERGER PAINT PLC)
In the history of marketing, customers/consumers are the main subject. Marketing information system is that which firms used to identify their customer’s needs and go satisfy them profitably. This research work made to understanding the extent at which information system have helped in solving the problems of customers more especially Berger paint plc customers. Hence it is found out that effectives marketing increase the satisfaction of customers need. Therefore firms in the industry should ensure that effective marketing information system is used for proper customers problem identification solving and satisfaction. Since marketing information system is unavailable firms in the manufacturing section should adopt is to improve that service and customer patronage.
TABLE OF CONTENTS
Title page i
Approval page ii
Table of content
1.0 introduction – – – – – – 1
1.1 Background of the study – – — – 2-4
1.2 Statement of the problem – – – 5-6
1.3 purpose of the study – – – – 6-7
1.4 Research questions – – – – 8-
1.5 Significance of the study – – – – 8
1.6 Scope of the study – – – – – – -9
1.7 Limitations of study – – – – – 10
1.8 Definitions of terms – – – – – 10
2.0 review of related literature – — 12
2.1 introduction – – – – – 13
2.2 the role of marketing – – – 17
2.3 new product development process – 21
2.4 adoption of innovation – – – 23
2.5 reason why new product fail – – 24
2.6 the planning function management – 25
2.7 a Brieft of Berger paint plc – – 27
3.0 Research design and methodology – 30
3.1 introduction – – – – 30-
3.2 section of primary data – – – 31
3.3. Sample techniques – – – – 31
3.4 sample size determination – – – 31-33
3.5 data analysis techniques – – 33
3.6 assumption – – – – – 33-34
4.0 Presentation and analysis of data. – – 35
4.1 introduction – – – – – – 35-
4.2 presentations of data – – – – – 36-
4.3 analysis of data – – – – – 36-43
5.0 Summary, Conclusion and recommendation – 44
5.1 introduction – – – – – – 44-45
5.1 Summary of findings – – – – 45-46
5.3 Conclusion – – – – – – 46
5.4 Recommendations – – – – – 47
References– – – – – – – – 48
Appendix – – – – – – – – 49
Questionnaire – – – – – – – 50-53
Marketing information system is very vital for marketer. It is a systematic collection of data and it analysis, to get some facts in solving on existing marketing problem. It is usually done when there is a marketing problem needed to be solve. It is very important in new product development and planning because it helps the research and development (Rand D) department to seek the opinion of their target customer about on the best way to solve or satisfy their needs.
1.1 BACKGROUND OF THE STUDY
Information and reliable data from the bedrock of any management decision they also from the basis for all the diagnostic and effort of managers from marketing stand point problem can only be anticipated identified analyze and resolved or prevented if accurate and reliable information can be obtained from both reveal and external source.
This overdoing importance of marketing information is so obvious that every trained marketing manager make deliberate efforts of generate analyze and use reliable marketing related information marketing research and marketing information system are concerned with information gathering.
According to the American marketing association (Ama) marketing research is the systematic gathering recording and analysis of data about problem relating to the marketing of good and service . A major weakness of this definition is that it implicitly ignores that fact not only marketing research analyze and solve problem that the identify them. It has been critiesize for not being clear on the goods of marketing .
A short but acceptable definition sees marketing research as a ferulze decision.
Taken together these two definitions which reveal the nature and scope of marketing research.
Firstly, the show that the purpose of market research is to aid in marketing decision it may help to denitrify marketing problems and opportunities available course of a action in resolving the matter.
Secondly, it is a formulized to systematic means of obtaining the needed information thus deliberate and organized it is systematic in the sense of following a defined and three tested procedure.
Thirdly following closely from the second observation is the fact that marketing research is seeks observation objectively, in so doing the marketing research process aim at being scientific in the sense of finding out what is although the information is expected among other thing to help determine what should be.
Finally, since it is an aid to marketing decision of the following planning, pricing, product, media selection effectiveness competition, factor
In focusing on any other marketing related issues marketing research may help in problem identification as well as the choice among alternative solution for the problem
A marketing information system (MIS) is a continuing and interacting structure of people equipment and procedures together sort, analyzed evaluate and distribute non recurrent basis, a marketing information system . Accurate information for the use by marketing managers to improve their marketing planning implementation and control
When compared with the definition of marketing research given earlier the difference becomes obvious.
First where as marketing research gather and analysis needed information adhoe non recurrent basis a marketing information system is installed to do this on a regular basis.
THE VALUE OF MIS
Fro any marketing organization to succeed it needs a require supply of current and relevant information for marketing. In order to be useful such information must be regular timely, relevant and accurate.
The operative of marketing innovating system involved huge financial outlay. There fore a cost benefit analysis is relevant innovation requested by decision makers it is necessary to ensure that they are likely to help improve the quality of decision made that the cost dons not exceed the benefit of the information although the benefit would certainly be related to
- The ability of the information to reduce uncertainty
- The magnate of uncertainty in the decision striation
- The magnitude of the economic result of the decision.
In designing a marketing information system due regard must be paid to the information requirement on sale cost target market consumer behaviour, these information area are all important in the development of new product.
This is so , because for new product or innovation to succeed, it most meet the news and requirement of consumer in terms of quality affordability reach ability and taste preference of consumer only deviation on the part of the new product innovation will small doom for the company. this point under scores the importance of marketing information system which ensure steady flow for relevant information for decision makes, very organization especially for marketing purpose.
1.2 STATEMENT OF THE PROBLEM
It has often been said that new product suddenly success in the market. this is not for from the truth however many new product that meet the demand of the customers cannot in any way fail further more those that paid do so die to their inability meet the needs of consumers by so doing they come face to face with total rejecter thereby leading to their failure.
The importance of relevance information cannot be over emplohazied because it has been said by authorities that information is the life blood of every marketing organization ,without information the marketer cannot ascertain the decision as well as the heart of their customer whom they are meet to satisfy and so they fail.
The only way of generating relevant information and ensuring that it get to marks foe use is through the marketing information like towns that cannot be separated unfortunately however must organization take them for granted either due to total lack of knowledge of the essence of the marketing concept or due to the enormous expenditure involves in gathering information this invariably affects the quality of their decision and the ability of their new product to meet consumer demand.
The essence of this work therefore is to examine the importance system on new product development and planning.
1.3 OBJECTIVES OF THE STUDY
The aim of this study is to examine the application of marketing information system in new product planning and development especially the study intends to achieve the following:
- To determine if Berger paint have a market unit
- To determine the status of marketing information system/marketing research in Berger paint.
- to determine if the firm has resources to marketing
- to determine the essence of marketing information system in generating data for new product planning and development
1.4 RESEARCH QUESTIONS
The research has the main taste of finding out the following;
- Do Berger paint have a marketing information unit.
- What is the status of marketing information system marketing research is Berger paints.
- Do the firm have resource to marketing information system.
1.5 SIGNIFICANCE OF THE STUDY
- Null (Ho) there is no significant relationship between marketing information system and new product development and planning.
- alternative (H1) there is a significant relationship between marketing information system and new product development and planning.
- Ho: marketing information system and new product.
1.6 SCOPE OF THE STUDY
Berger paint plc is one of the firms in the oil geopolitics market of paints industry in Nigeria it has the following clover paint plc Aka paint plc select paint and best paint as it major rivals the choice of degree paint plc as the case study of this research was informed by difficulties met of this research in the same industry within it firm the personal in the marketing department were interviewed in extending the work equally consumer of Berger paint resident in Aba areas were used, It has to be so, because the product is a national brand and the researcher could not cover the whole national hence Aba areas was picked as a good representative of all the market.
1.7 LIMITATION OF THE STUDY
In carrying out this research the research was faced with so many problem which hampered the researcher efforts to some extent.
There was the problem of insufficient fund and limited time of further research from this there is won for further research from this point by any one who would wish to continent from this point.
During the administration of the questionnaire there was a problem or relevance on the part of staff to responder to questions of the questionnaires , it tool time before they could be convenience to do so there was problems of refused of disclosed some information requital from them.
1.8 DEFINITION OF TERMS
Here are the technical and professional term that paper in this research work and their contextual meaning
- Marketing information system : is the structured interacting complex of persons machine and producers designed to generate in order flow of pertinent information collected firm. internal and external firm sources for use as the basis for decision making.
- marketing : is the process of obtaining or exchange of goods and services between two or more people through exchange process at a profit oriented.
- marketing research: is a systematic collection of data and its analysis to get some facts that will help his solving or exiting marketing problem.
- NEW product is any that is newly introduced to market or modification of in existing product.