Product development is considered as the most essential aspect of business as it assist in achieving significant growth and success at market area. In this modern business era business firms are widely concern on attaining customers satisfaction through offering wide range of products and services at market place (Varley, 2014). Customers satisfaction is consist as the major aspect which increases the brand image of firm in the mind set of people. Morrisons Supermarket Plc is the chosen company for this particular project. It is the fourth largest chain of supermarket in the United Kingdom. The major purpose of firm is to produce new products as to enhancing the sales and revenue of firm at market place.
1.1 Formulate and record possible project outline specification
Customers satisfaction is a key element for each business as organisations are work for fulfilling the desires of people at market place. The buyers are the primary objective of firm as the whole activity of an organisation is depend on the choice and preference of buyers. The needs and preference of customers are changed as per the change originate in the market trend, so it is the prior responsibility of organisation or its higher authority to analyse the market trend in respect to producing more effective and satisfactory goods and services at market place. Morrisons Supermarket Plc is a famous supermarket chain in United Kingdom. The company was established in the year of 1899 through William Morrisons. It is the public limited company and deals in variety of products and services at market place (Zimmerman and Blythe, 2013). The headquartered is in Bradford, West Yorkshire, England. The essential focused area of Morrisons Plc is to producing new products in order to grabbing the attention of buyers towards the firm or its offered products and services at market area. Research Aim can be defined as the most effective part of research project as the each and every activity of research are based on the defined aim of the study. It helps the investigator in rendering a significant direction to apply all research activities in systematic way as to overcome with the issue of research. The major aim of this particular research is :
“To analyse the effectiveness of product development and its influence on enhancing customers satisfaction”. A Case Study on Morrisons Supermarket Plc.
The research into thought process is supported on the importance of product development and its impact on developing customers contentment. A research project provides the opportunities to the learner to develop their skills and ability in some specified area of study (Gomes, Weber, Brown and Tarba, 2011). The enhancing knowledge of learner helps them in conducting an effective research in their future as to attaining higher growth in their career.
This is also an another necessary part of research which is significantly interconnect with the aim of the research work. Objectives are considered as the specific research actions that are planned to carry out the research work in appropriate direction. Objectives are available in the small statements in which the issue of research are mentioned. Some effective objectives are described as under:
- To identify the importance of product development within Morrisons.
- To determine the measures which are adopted by Morrisons as to attaining customers satisfaction at market place.
- To ascertain the impact of new product development on increasing organisational performance.
- To recommend various ways through which Morrisons can achieve higher competitive edge at market place.
Research questions are considered as the answerable questions which are based on some specific issue of concern. This section is connected with the objectives of research and helps in conducting the part of literature review in effective manner. Some essential questions of resercah are described as under:
- What are the importance of product development within Morrisons?
- What are the measures which are adopted by Morrisons as to attaining customers satisfaction at market place?
- What is the impact of new product development on incensing organisational performance?
- What are the ways through which Morrisons can achieve higher competitive edge at market place.
1.2 Factors that contribute to the process of project selection
Research can be considered as a most crucial element which helps the learner in developing the skills and ability through applying an appropriate process for decreasing the chance of conflict as it create issue in success of a particular area of study (Kaplinsky and Posthuma, 2013). An effective step is followed by researcher at the time of conducting an appropriate research project are associated as below:
Introduction: This can be delineated as the most necessary part of investigation work as it is the beginning point of research work. In this an appropriate aim has to be selected in order to further continuing the research work in appropriate direction.
Literature Review: This is second and foremost important element of research work as it is based on the views of various authors and scholars in respect to analyse the need of applying the method of new product development as to fulfilling the desires of people at mar