Developing a Promotion Strategy for a New Product: Using Three Firms in Nigeria

Abstract

The aim of the study is focused on investigating the new product development processes involved in pushing a product from inception of the idea to full market launch of three Nigerian companies. The companies are titled Company X which is a food production company, Company Y which is a soap/detergent production company and Company Z which is a baking company. The theoretical model used is the Stage-Gate model. The data collection process focused on conducting structured interview with the R/D and production teams from the different companies.

After the interview and research comparisons, it was found out that the three companies follow the model explained in the literature from idea generation to the product launch process and they made use of up to date product development processes and standards in their product processes.

Results gathered from the interview were compared with other product development processes of standard companies like Colgate-Palmolive and Unilever Plc.

Keywords: Product development, idea generation, testing, advertisement and product launch  

DOI: 10.7176/EJBM/11-15-18

Publication date:May 31^st 2019