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EFFECTIVE PRODUCT PLANNING AND DEVELOPMENT STRATEGIES FOR ACHIEVING INCREASED MARKET SHARE

CHAPTER ONE

INTRODUCTION

1.1      BACKGROUND OF THE STUDY

Manufacturing companies are emerging in the present day economy. It is important to note that firms’ survival rest solely on their product hence, effective planning and development strategy cannot be over emphasized here. Also in the past, companies that are involved in product saw the need to effectively plan and develop their products so as to establish a lasting impact in the market share. This ensures by capturing a greater part of the brand loyal. This has a long run influence on the company bearing in mind that goods produced must satisfy consumer taste and desire.

Effective product planning and development is a big management function, which involves different section in the organization such as product department, marketing and administration. In the height of all these activities, effective planning and development and implementation will go a long way to boosting sales in the company, for an organization to achieve its cooperate goal and also satisfy the need of the target market. It has to determine the type of product it produces based on the analysis of the target market needs. Also the product mix assortment is handled in such a manner that its need of the target market.

With increase of production companies in this country and the subsequent competition that follows survival of companies that produces confectionaries rest solely on power planning and development of the production activities on which must lie management priority attention.

Generally, planning and development of products usually originate from when the idea is conceived. On what is to be transformed into tangible productions and finally such product launched in the market. Here all planning and productions process are encountered by the manufacturers so as to produce and acceptable good product and at a profit. In the manufacturing companies planning and development strategy are inseparables, production begin after careful planning activities to be embarked upon.

PZ Plc had its beginning in sierra Leon, when Mr G.B Zochnis and company it which was incorporated as a private company under the ward in February 1950 with a registration office in Liver Pool and Manchester which has remained the headquarters of the group ever since. The main business of the company was that of general merchandise and was active for many years. In export of west Africa produce such as carton maize, coca, cassava and

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