IMPACT OF PRODUCT PLANNING AND DEVELOPMENT ON ORGANIZATION PERFORMANCE (A STUDY OF NIGERIA BOTTLING COMPANY PLC. IBADAN, OYO STATE)

ABSTRACT This study examined the impact of product planning and development on organization performance. The objectives of the study are to determine how effective product planning important to profit growth, find out if new product development contribute to growth of an organization, investigate how innovation of new product enhance organization performance and examine the relationship between product planning and organizational performance. This study adopted descriptive method as research design. Questionnaires are administered 60respondents and all questionnaires were retrieved. The findings of the study shows that effective product planning is a key to profit growth of an organization because majority of the respondents agreed that effective product planning helps organizations allocate resources efficiently, product planning encourages innovation and adoptability to changing market dynamics and well-planned products that meet or exceed customer expectations can enhance brand reputation and loyalty. More so, findings shows that new product development has contributed to the growth of the organization because majority of the respondents agreed that developing innovative and high-quality products can enhance the reputation and credibility of the organization in the market and product development allows organizations to adapt to changing market trends, customer preferences, and technological advancements. Also, findings show that innovation of new product enhance organizational performance because majority of the respondents agreed that introducing Innovative products can help differentiate a company from its competitors, attracting more customers and increasing market share, innovative products can generate excitement among customers, leading to increased engagement and loyalty. Finally findings show that there is relationship between product planning and organizational performance because majority of the respondents agreed that effective product planning ensures that the products or services developed align with the organization's strategic goals and objectives, through thorough product planning, organizations can better understand market needs, trends, and customer preferences efficient allocation of resources based on well-developed product plans can enhance operational efficiency and effectiveness, contributing to Improved organizational performance