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  • Research Article   
  • Int J Econ Manag Sci 2018, Vol 7(1): 488
  • DOI: 10.4172/2162-6359.1000488

New Product Development and Consumer Brand Adoption in SMEs Manufacturing Industry in Ogun State Nigeria

Kesinro OR1*, Adenugba AA2 and Ademilua AV2
1Department of Administration and Management, Crawford University, Igbesa, Ogun State, Nigeria
2Department of Accounting and Finance, Crawford University, Igbesa, Ogun State, Nigeria
*Corresponding Author : Kesinro OR, Department of Administration and Management, Crawford University, Igbesa, Ogun State, Nigeria, Tel: +23418134785, Email: [email protected]

Received Date: Jan 12, 2018 / Accepted Date: Jan 31, 2018 / Published Date: Feb 02, 2018

Abstract

The study examines the effect of New Product Development strategies on Consumer Brand Adoptionin SMEs in the manufacturing industry in Ogun State, Nigeria. The main objective of the study is to determine the relationships between brand physical attributes, buyer behaviour, market pre-testing strategy, product adoption, marketing planning policy and competitive edge of SMEs products in Ado-odo/Ota Local Government Area of Ogun State, Nigeria. The research design is the descriptive survey and data were gathered through a well-structured questionnaire rated on a 6-point Likert scale of Strongly Agree to Strongly Disagree. The population of the study comprised 240 ownermanagers and employees of selected companies presumed to host most of the SMEs in the state. The simple random sampling technique was used to select a sample of 150 individuals. 134 copies of the questionnaire were returned and analyzed using the percentile and simple regression statistical techniques. The study reveals that physical attributes of SMEs products have significant weak relationship with buyer behaviour (R=0.333; p<0.05); there is significant moderate relationship between market pre-testing strategy and adoption of product (R=0.342; p<0.05) and there is significant but weak relationship between marketing planning policy and improve competitive edge of SMEs products (R=0.125, p<0.05). The study recommends that small businesses periodically review the techniques employed in product development to enhance brand image and consumer expectation that guarantee consumer loyalty.

Keywords: New product development; Brand adoption; Consumer loyalty

Citation: Kesinro OR, Adenugba AA, Ademilua AV (2018) New Product Development and Consumer Brand Adoption in SMEs Manufacturing Industry in Ogun State Nigeria. Int J Econ Manag Sci 7: 509. Doi: 10.4172/2162-6359.1000488

Copyright: © 2018 Kesinro OR, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

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