EFFECT OF PRODUCT LIFE CYCLE ON ORGANIZATION SALES
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EFFECT OF PRODUCT LIFE CYCLE ON ORGANIZATION SALES
ABSTRACT
The study was based on an investigation of the marketing influence of product life cycle in meeting Unilever Nigeria Plc’s organisational sales aim in Aba, Abia state.
The goals were specified to identify and evaluate the marketing activities of the product life cycle in the cosmetic and detergent industries. In order to critically evaluate this. As a result, the researcher set out to determine the aims listed below.
First, determine whether Unilever Nigeria Plc conducts rigorous market research before to designing its product.
Second, examine whether Unilever Nigeria Plc adheres to formal product development procedures or sequences (idea generation, business analysis, concept of product testing, product development, test marketing, and commercialization).
Finally, to determine whether the product life cycle is useful in achieving Unilever Nigeria Plc’s marketing performance goals. The literature evaluation included a quick comparative analysis of Plc BCG and adopter categories, as well as a discussion of the notion of marketing, product life cycle and its stages, and critiques of the product life cycle concept.
The researcher used both descriptive and analytical methods in his sample survey investigation. Data were acquired using both primary and secondary methods and/or sources. The yaro yamen formula was used to determine sample size.
In addition, the sample size was determined using a stratified random sampling technique. This was because all units had an equal probability of being considered.
In Chapter 4, data were presented and analysed. Using a simple table and a chi square to analyse the data, respondents were displayed in a table, followed by the results of the data analysis in percentages.
Finally, in the final chapter, the researcher provided his summary, conclusion, and suggestions, signalling the end of the project.
Chapter One:
1.0 Introduction
An increasing number of people are wondering if the product life cycle concept adds value to commercial enterprises and plays a constructive function in improving the detergent industry’s marketing performance.
It has been argued that the usefulness or otherwise of the product life cycle concept has been the topic of unending marketing debate. Is the product’s life cycle useful? There have been questions about issues.
Product life cycle is a marketing phenomenon that identifies the numerous stages that a product goes through during its sales lifecycle. It is also a graph that depicts the consecutive increase and fall of a product’s sales and earnings.
The product life cycle is an important concept in the process of planning, forecasting, managing, and developing products. No product lasts forever; they are created, developed, and launched.
The notion implies that a company’s positioning and differentiation strategy must evolve as the product, market, and competition change over its life cycle. It should be noted that some products move through the cycle stage more quickly than others.
To completely understand this idea (product life cycle) and its effects on marketing, as stated in the literature review. This study defines the notion as illustrating the unit sales trend or curve for certain products, from the time they are first introduced to the market until they are phased out.
In other words, the notion provides the long-term evaluation of a product, as measured by sales or percentage saturation, and explains its stages using models like Unilever Nigeria Plc. Some companies go through the cycle quickly,
while others never make it past the early stages of the growth era, but Unilever Nigeria Plc has progressed consistently and reliably through each stage to maturity. Unilever manufactures a wide range of goods, but “OMO” multi Actives will be structured specifically for the sake of this study.
1.1 Background of the Study
Unilever Plc is a detergent and cosmetic company with the sole purpose of teaching and satisfying the entire public with its qualified products. It was founded as a private company on April 11, 1924,
under the name lever brother (WA) Plc, which was later renamed West African Soap Company Plc on April 3, 1973. This name was changed again to Lever Brothers Nigeria Plc on December 15, 1985, and then to Unilever Nigeria Plc in 1992.
The company’s headquarters are located in Apapa Lagos and were established in 1942. Manufacturing at the plant began with the production of bar soaps using palm oil, but it was later expanded to include toilet soaps from international brands Lux and Relaxers, Astral, and Asepo.
Over the past year, the company’s core business has expanded to include the production of blue band and plant margarine, Omo and Surf, non-soapy detergents, pepsovent and close-up tooth pastes, and three top fruit syaush.
The company also manufactures the well-known sunlight and key laundry soap. On September 12, 1973, the corporation became a public company, and its shares were listed on the Nigerian Stock Exchange.
Unilever Nigeria Plc has seven departments, including production, marketing/sales, accounting, purchasing, administration, and research & development.
All work together to attain common goals. Unilever has branches in Nigeria, where the Aba branch is located, as well as other regions of the world, including Ghana.
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