Impact of Marketing Research on a New Product Development (a Study of Pz Plc, Benin City)

This research work is on impact of marketing research on a new product development, using a study of PZ Plc, Benin City, Edo State. It includes an extensive investigation into how marketing research influences the profitability of organisations through
marketing research processes. The objective of the study was to determine to what extent marketing research can improve product quality. Also to ascertain the extent at which marketing research can affect customer‘s satisfaction and to find out the extent at
which marketing research can increase profitability. Using well structured questionnaires and oral interviews, the required information was gathered and in order to analyze the collected data, statistical tools were used. The hypothesis was tested
using the chi -square statistical technique. The finding were that marketing research does contribute to increase in profit, that marketing research have an effect on customer satisfaction and that product quality is dependent on the effectiveness of marketing research. Inferring from the discoveries made during this study the researcher made some recommendations. It was recommended to maintain the quality of its product so as
not to be overtaken by their competitors. It is also recommended that organizations employ and maintain competent personnel in carrying out the marking research.