Strategies for Introducing a New Product in the Market
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Abstract on Strategies for Introducing a New Product in the Market
The research work was on a study of how to introduce a new product in the market. The main objective was to determine whether the strategies used to introduce Cristolyn Cough expectorant in Enugu was effective or not. The researcher also looked at how the product is fairing in the market. Both primary and secondary data were collected to solve the research problem. The population study comprised the consumer and personnel of Encristo Pharmaceutical Company Limited Enugu. The researcher instrument used for data collection is questionnaires. Tables, frequencies and percentages were used in presenting and analyzing the data collected. Based on data analysis, the researchers come up with the following findings. The product was test marketed for a period of five moths before it was officially launched on September 8, 1997. During the time of introduction both radio, Poster, Sticker etc. were used. Most of consumer interviewed said that they were aware of the product is existence and that the quality and test is very good. Company’s personnel believed that the strategies used to introduce the product have been effective. In conclusion, the researcher believes that the product have been accepted ad is moving well in the market.
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