THE PROBLEMS IN THE MARKETING OF NEW PRODUCT

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THE PROBLEMS IN THE MARKETING OF NEW PRODUCT

ABSTRACT

The primary motive for this research work has been to dictate and examine the problem of marketing new Product with reference to Lady Carter Treated Pure Water Produced by Louis Carter Group Industries, Limited Enugu. The problems investigated in this research work were those that affect the marketing of Lady Carter Treated Pure Water in Enugu State Market. The methods of collecting data were from Primary and Secondary data.  The research work had not only determined the effect of these problem of marketing the product but has advanced further towards adducing possible ways through which these factors could if not completely eliminated but reduced to the barest minimum to make way for effective and efficient marketing of the product the non-challant attitude towards through market analysis to find out whether the consumers would really buy their product their changing purchase habits spells down for them. This is because the company just launched the product without identifying their potential market and consumers advised to identify the reason why they have to produce such new product and this will be followed by what exact to produce who are they producing for and their changing life style and habits of their consumers. A realization of these vital question and their respective answers would constitute a stepping stone towards achieving success in the purchase of the product.

CHAPTER  ONE

INTRODUCTION

Louise Carter Group Industry Limited, Enugu was formally established in 1985 after the necessary requirement of the States registrar of companies has been completed with.  As a manufacturing company, Louise Carter Group Industry Limited commence the production of the following live of products:

i.    Louise Carter Plastic

ii.   Tobacco

iii.  Pipe

iv.  Weaving

v.   Rice     and

vi.  Lady carter treated Pure water

Though without a thorough market analysis.  This lapse necessitated the researcher’s urge to find out why in spite of the success, the organization has achieved in the marketing of other products.  That of Lady Carter treated Pure Water seems to be exception. Nevertheless, Louis carter Group Industry Limited was producing of the capacity of about low cans from both the morning, afternoon and night shifts but this capacity has reduced as a result of the unmarked ability of the product as attention is therefore paid of other line. It could be said with a fair degree certainty that Lady Carter Pure Water could be found in most market, stores, supermarkets in Enugu State. But in staff competitively on with Panni Treated Water produced by Nigeria Mineral Water Contester.  In spite of the business of the prices of these products, the value of Lady Carter Pure Water, much more than Panni Treated Water.

1.1   GENERAL BACKGROUND TO THE SUBJECT MATTER

The alarming rate of new product failures owing to certain problem yet undiscovered in the marketing of new product in Enugu state has really called for attention. Therefore, this research work is to identify these hidden, problems that lead to constant product failures.  If possible device suitable measures providing solution or else the situation will keep worsening as time passes by. To a marketers, it is not over statement saying that those problem of marketing new products in Enugu state are also applicable to other areas but the difference may be that those problems might take different shapes and turns as a result of cultural difference.