EFFECT OF MARKETING INTELLIGENCE ON NEW PRODUCT DEVELOPMENT (A STUDY OF NIGERIA BOTTLING COMPANY PLC, EBUTE META, LAGOS)
Abstract
This research investigates the effect of marketing intelligence on new product development, using Nigeria Bottling Company Plc, Ebute Meta, Lagos, as a case study. The objectives are to evaluate the effectiveness of competitor analysis, examine the impact of product evaluation, and identify the effect of marketing analysis on new product development. Marketing intelligence involves gathering and analyzing market data to support key marketing operations, such as market diversification, competitive pricing, and market share growth. The study applies the Diffusion of Innovations theory, Stage-Gate model, and Resource-Based View (RBV) of the Firm as theoretical frameworks. A descriptive cross-sectional design was adopted, targeting 340 management and staff from the marketing department. Data was collected via questionnaires, and chi-square analysis was used to test the hypotheses. The results indicate that competitor analysis, product evaluation, and marketing analysis significantly influence new product development. Competitor analysis helps identify market gaps and strengthen strategic direction, while product evaluation refines product features and ensures quality. Marketing analysis enhances market targeting, demand forecasting, and pricing strategies, thereby improving the likelihood of successful product launches. The study recommends expanding competitor research, improving product evaluation methods, and optimizing marketing analysis for better targeting, demand prediction, and competitive pricing models to achieve product success.
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