NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC

NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC


2,679 marked this research material reliable.
Call or whatsapp: +2347063298784 or email: info@allprojectmaterials.com
Department: accounting project topics | Type: Project Topics | Project Topics and Materials | List of Project Topics | Research Project Materials | Journals | Thesis | Articles | Online Project Materials | Business Plan | Final year project topic | Format: Ms Word and PDF | Attribute: Documentation Only | Pages: 76 Pages | Chapters: Complete Research work from Chapter 1 to 5; All chapters | Inclusive: Abstract, Preliminary Pages, Table of Contents and Appendices | Cost: ₦ 5,000.00


NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC

PROJECT TOPICS AND MATERIALS ON NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC


CHAPTER ONE:

INTRODUCTION

1.9        Background to the Study

In Nigeria, the banking industry has been experiencing cyclical movements in its development patterns right from independence in 1960 to date. As a result of the importance of the banking industry in the economic development of the country, successive governments in the nation came up with different policies, programmes, regulations and strategies in the form of financial guidelines with the aim of improving the performance of the industry. These guidelines include: regulation, deregulation, liberalization, globalization, paging of interest rate, consolidation and the like.

In essence, the relevance of any business organization lies in its ability to develop new product in line with the needs, wants, interests and or aspirations of the society or community within which it operates. However, changes in the consumer taste, preferences and aspiration, as well as technological innovations, open market economy, challenges of globalization coupled with the new banking consolidation policy aimed at sanitizing the fragmented and crowed banking industry in the country, have brought in discipline and orderliness in the sector. However, there is no guarantee that a successful product today will remain relevant or success in the near future.

However, with deregulation and liberalization policies, the central bank of Nigeria was able to reduce the number of small indigenous banks from 89 to about 25 mega-sized banks, solely to provide a wide range of new product lines, including retail and whole sale banking as well as project financing and other investment services. With stiff competition in the industry, banks must do their best to meet the challenges; hence they must come up with projects or programme that includes: researching new products and or services in order to prosper because it is risky for banks to rely only on their existing products in the face of ever changing technological innovations.

Despite all the financial regulations and policies in the industry, its performance or contributions to the economy and customer satisfaction is still quite discouraging and for banks to grow, they must, from time to time, produce new products that lead to customer satisfaction vis-à-vis huge profit attainment within the industry. Sanusi, (2010) gave five measures of enhancing quality of banking in Nigeria. These measures are industry remedial programmes to fix the key causes of the crises; implementation of risk based supervision; reforms to regulation and regulatory frame work; enhancing provision for consumer protection; and internal transformation of Central Bank of Nigeria (CBN).

The survival and growth of commercial banks in Nigeria depend solely on their ability to develop new product and or service in order to cope with the global market challenges, but in the process, care must be taken in order to avoid producing “dogs” which are neither profitable nor satisfying customer needs.

1.10     Statement of the Problem

The introduction of Structural Adjustment Programme (SAP) in 1986 led to the proliferation many of commercial banks in Nigeria. As pointed by Nigerian Deposit Insurance Corporation (2009) that by then there were 89 active banks. The presence of these banks led to intense competition among different banks within the industry (both old and new generation ones). Also with the coming of the new generation banks into the scene, their new and sophisticated products posed a challenge for the old generation banks to adopt to new banking method in order to survive and grow in the new competitive environment.

Competition in the industry makes the old system of “Arm-Chair” banking impossible where bankers normally sit waiting for customers to come. For banks to survive now, they must embrace the “principles of marketing” if at all they want to survive and remain relevant in industry. They must encourage, persuade, motivate, attract and influence both existing and potential customers. They must engage into different promotional efforts such as personal selling, advertising, sales promotion, publicity, mass selling, public relation, branding, packaging and offer variety of products in order to capture large share of the market.

As a result of severe competition, marketing is currently occupying a prominent position in the Nigerian commercial banks where every banker is a “marketer”. This is the reason that led this study of the Assessment of New product development as a strategy for sales growth in UBA Plc, with the aim of finding out how new product development may lead to sales growth in the banking industry of Nigeria by taking UBA (Nigeria) Plc as a case.

DOWNLOAD COMPLETE WORK FOR NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC


Additional Information

  • The Project Material is available for download.
  • The Research material is delivered within 15-30 Minutes.
  • The Material is complete from Preliminary Pages to References.
  • Well Researched and Approved for supervision.
  • Click the download button below to get the complete project material.

Frequently Asked Questions

In-order to give you the best service available online, we have compiled frequently asked questions (FAQ) from our clients so as to answer them and make your visit much more interesting.

We are proudly Nigerians, and we are well aware of fraudulent activities that has been ongoing in the internet. To make it well known to our customers, we are geniune and duely registered with the Corporate Affairs Commission of the republic of Nigeria. Remember, Fraudulent sites can NEVER post bank accounts or contact address which contains personal information. Free chapter One is always given on the site to prove to you that we have the material. If you are unable to view the free chapter 1 send an email to info@researchcub.info with the subject head "FREE CHAPTER 1' plus the topic. You will get a free chapter 1 within an hour. You can also check out what our happy clients have to say.


Students are always advised to use our materials as guide. However, if you have a different case study, you may need to consult one of our professional writers to help you with that. Depending on similarity of the organization/industry you may modify if you wish.


We have professional writers in various disciplines. If you have a fresh topic, just click Hire a Writer or click here to fill the form and one of our writers will contact you shortly.


Yes it is a complete research project. We ensure that our client receives complete project materials which includes chapters 1-5, full references, questionnaires/secondary data, etc.


Depending on how fast your request is acknowledged by us, you will get the complete project material withing 15-30 minutes. However, on a very good day you can still get it within 5 minutes!

What Clients Say

Our Researchers are happy, see what they are saying. Share your own experience with the world.
Be polite and honest, as we seek to expand our business and reach more people. Thank you.

A Research proposal for new product development as a strategy for sales growth, profitability and competitiveness in uba (nigeria) plc:
Reviews: A Review on new product development as a strategy for sales growth, profitability and competitiveness in uba (nigeria) plc, product, development, strategy project topics, researchcub.info, project topic, list of project topics, research project topics, journals, books, Academic writer.
The introduction of Structural Adjustment Programme (SAP) in 1986 led to the proliferation many of commercial banks in Nigeria. As pointed by Nigerian Deposit Insurance Corporation (2009) that by then there were 89 active banks. The presence of these banks led to intense competition among different banks within the industry (both old and new generation ones). Also with the coming of the new generation banks into the scene, their new and sophisticated products posed a challenge for the old generation banks to adopt to new banking method in order to survive and grow in the new competitive environment. Competition in the industry makes the old system of “Arm-Chair” banking impossible where bankers normally sit waiting for customers to come. For banks to survive now, they must embrace the “principles of marketing” if at all they want to survive and remain relevant in industry. They must encourage, persuade, motivate, attract and influence both existing and potential customers. They must engage into different promotional efforts such as personal selling, advertising, sales promotion, publicity, mass selling, public relation, branding, packaging and offer variety of products in order to capture large share of the market. As a result of severe competition, marketing is currently occupying a prominent position in the Nigerian commercial banks where every banker is a “marketer”. This is the reason that led this study of the Assessment of New product development as a strategy for sal.. accounting project topics

NEW PRODUCT DEVELOPMENT AS A STRATEGY FOR SALES GROWTH, PROFITABILITY AND COMPETITIVENESS IN UBA (NIGERIA) PLC

Project Information

Share Links

Download Post (MsWord)
Download Post (PDF)

Search for Project Topics

Project topics in Departments

How much does it cost to hire a writer in Nigeria?

Looking for Professional Approach and Quality Research Services ?

Estimating the cost of research writing in Nigeria: Freelance writers in Nigeria may charge depending on the project, depending on the factors mentioned earlier. Plagiarism-focused content may be on the higher end of this range due to the additional skills and research involved. For a more accurate estimate, it's recommended to reach out with us, discuss your specific requirements, and request a quote based on the scope of your project. Prices can vary, so getting personalized quotes will help you determine the cost more precisely.