THE IMPORTANCE OF MARKETING RESEARCH IN PLANNING OF A NEW PRODUCT (A CASE STUDY OF RIMCO LIMITED NNEWI)

The aim of this project is to identify the importance of marketing research in the planning of a new product (a case study of Rimco limited Nnewi) the research was intended to achieve the following objectives, to know the role of marketing research in understanding consumer behavior, cost effectiveness of marketing organization and problems, significance of the study, objective of the study and limitations of the study. It also deals with the research methodology employed by the researcher in obtaining information in carrying out the research work with the use of questionnaire and interview. This study has a sample size of respondents which was chosen by the method of sample random, of sampling method, the method of data collection for this study was secondary and primary data. The instrument of the data collection was questionnaire which was divided into two, it contains section A and section B. section A contains personal data while section B contains the questions. Data were analyzed by simple percentage, lastly, it deals with the findings, conclusion and recommendation. In view of findings, a number of recommendation were made. These are, the organization should continue to earn out marketing research, the research data should be approximately gathered, interpreted, analyzed, presented and decoded to ensure optimum execution of the synchronized data as any error due to neglect, omission, and incompetence must be clearly paid for.