APPRAISAL OF THE ROLE OF PURCHASING FUNCTION IN NEW PRODUCT DEVELOPMENT
ABSTRACT
Based upon the finding of my study, an appraisal of the role of purchasing function in new product development as in Nigeria bottling company, owerri imo state, purchasing function is solely very essential to the organizational cycle as a whole. This can be attributed mainly to their ability to perform greatly with the 4 p’s of purchasing.
Thus, management recognizing purchasing function in the aspect holds them in high esteem. This study was therefore very significant, as it would highlight the much needed information on new product development and the steps involved. It also emphasis in the process or stages of new product development. This discovered to the various challenges posed by new product to management especially as it concerns Nigeria bottling company. The researcher was able to state through the funds the various in which firms normally wants to develop new products, and this as well trail to product modification and sources.
Though, the research and management were able to deliberate on why some company’s lack product planning agenda.
Owning to the nature of this researcher study, I adopted a descriptive research (survey) designed and use personal interviews, questionnaires, reviews of existing documents and text books to gather the data that was needed for my study of this project. The study indicate that measuring instrument used were valid and reliable.
The population was analyzed using mathematical percentage and the hypothesis was tested using a statistical tool, the chi-square (x2) test, which is a non-parametric, observed set of data, filled and expected test.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The underlying purpose every industry is to fill a need in the market. Some needs are fundamental to human survival, such as food, clothing and shelter e.t.c. other needs are expression of man’s desire for self improvement or culture such as books, art and music.
Company, therefore carryout on a constant search for new products which fill actual or potential needs of the market and which give them a competitive edge over other companies. They depend on engineering or companies, they also depend on engineering or technical specialist to create those new product.
Kotler put it clearly that a successful product come into existence through proper planning, implementation and control of programme designed to create, build and sustain mutually beneficial exchange and relationship with target market. In discussing, the contribution of design especially with reference to new product development, it may be advisable to attempt to distinguish between its various divisions that is research which means discovering of novel techniques, idea or systems. It is apparent asserts lip that in many companies insufficient attention in given to timing of the introduction of new product or improve products into market which results in disastrous effect on sales when launching of a product is delayed through non-availability and also higher product which is done by the buyer.
