Impact of New Product Development on Organizational Profitability

Student: Samson Oluwatobiloba Adedokun (Project, 2025)
Department of Business Administration and Management
Osun State Polytechnic, Iree, Osun State

Abstract

This project work is designed to cover the Impact of New Product Development on Organizational Profitability, a case study of Nestle Food Plc, Lagos. This was carried out using primary and secondary data. The analytical method that was used was descriptive and inferential methods. The descriptive method involves the use of table, percentage and charts etc. the inferential method includes such statistical method like chi-square etc. The results showed that there is significant relationship between new product and company's profitability and also there is significant relationship between government policy and new product development. It was concluded that before an organization can embark on new product development, research and development, marketing department should do adequate research on the market, customer, intermediaries and middle men. It was therefore recommended that Nestle Food Plc, in Nigeria should always look at ways of evolving new products that will attract and enhance consumer adoption behaviour.

Keywords
New Product Development Organizational Profitability Innovation Nestle Nigeria Plc Market Research Consumer Feedback Product Strategy Lagos State Business Performance Corporate Growth.
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