EFFECT OF NEW PRODUCT DEVELOPMENT IN ACHIEVING CORPORATE OBJECTIVES (A CASE STUDY OF CADBURY NIGERIA PLC LAGOS)
Abstract
This study investigates the nexus between new product development (NPD) initiatives and the attainment of corporate objectives within Cadbury Nigeria Plc Lagos, Nigeria. Assessing the direct impact of NPD initiatives on predefined corporate goals, aligning resource allocation with strategic objectives, analyzing the relationship between successful product launches and market expansion strategies, and probing the influence of organizational culture on NPD success are the focal points. The findings underscore the critical role of effective NPD strategies in achieving corporate objectives, emphasizing the need to nurture capabilities, strategically allocate resources, involve customers, embrace sustainability, and learn from failures. Leveraging these strategies could significantly enhance the company's innovation capacity and competitive advantage. This synergy between NPD practices and corporate objectives fosters sustained growth and resilience, forming a pivotal avenue for success in the dynamic marketplace.
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