EFFECT OF NEW PRODUCT DEVELOPMENT ON ORGANISTIONAL PERFORMANCE IN INTERNATIONAL BREWERY, IN OGUN STATE.
Abstract
Effect of new product development on organizational performance seeks to evaluate how firms
can make a difference in a dynamic business environment where competition is extremely high,
and every organization is looking forward to outweigh its competitors as regards to developing
entirely new or modifying the existing products has become extremely essentials for enhancing
the performances. This work examined the design stage, process stage and test marketing of new
product development and its effect on the overall organizational performances. 300 staff of
International Breweries made up the population of the study with a sample of 171. All data
collected was analyzed using (SPS) statistical package of social science, Multiple Regression
was used to test the hypothesis. The study found that a significant relationship exist between
process stage and test marketing but not the design stage of the new product development on
organizational performance.
Therefore, the firms are to focus more on the quality of the
products and its important value to the market instead of internal efficiency. Hence, more
emphasis is being placed on the new product development processes that enable the firms to
develop more complex products to provide good quality products and services to the customers.
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