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CHAPTER 1

THE PROBLEM AND ITS BACKGROUND

Introduction

Product development is a series of steps that includes the

conceptualization, design, development and marketing of newly created or newly

rebranded product or services. Product development may involve modification of

a product and formulation of an entirely new product that satisfies a customer

wants.

Product development involves brainstorming for possible new product. It

is important part of the business to develop their product to compete with other

businesses.

Entrepreneurs is an initiative by creating a venture to take benefit of an

opportunity and as the decision maker, decides what, how much of a goods or

services will be produced. Entrepreneur is usually a sole proprietorship or a

partner who owns an incorporated venture. Entrepreneur is a source of new ideas,

goods, services and business.

Entrepreneurs have the capacity and willingness to develop, organize and

manage a business. It focuses on launching and running the business.

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Background of the Problem

Business Enterprise Mapping partners with clients from a variety of

industries, and company sizes, shapes and types. When we begin new client

relationships, we are often asked about our relevant experience within that client’s

industry. While we most likely have experience in their industry, we always

caution clients that the most useful ideas for innovation, improvement and best

practices often come from outside of the industry in which they compete. There is

probably no business system where this timeless principle applies more than in

the Product Development System. We spend substantial time with new product

introductions and find the same product development management challenges can

be found across all industries

You're experiencing slow growth or no growth a short-term glitch in

product sales can happen any time. If, however, company revenue either flattens

or declines over an extended period, you have to look for explanations and

solutions. If it isn't the economy or some outside force beyond your control, if

your competitors didn't suddenly become more brilliant, if you still have

confidence in your sales force, and if there are no major problems with suppliers,

examine your product line.

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Your top customers are giving you less and less business it may not be

worth your trouble to determine your exact market share when a rough idea of

where you stand will suffice. But knowing how much business you get compared

to your competitors is critical. Every piece of business your competitors are

getting is business you aren't getting--and may never get. If your customers'

businesses are growing and the business you get from them isn't, your product

may be the culprit. Chances are, someone else is meeting your customers' needs.

You find yourself competing with companies you've never heard of if

you've never heard of a new competitor or don't know much about them, watch

out! They have found a way to jump into a market with new products and

technology that could leave you wondering what hit you. It might not be that your

product has a fundamental flaw. It's more often the case that someone has brought

innovation to the industry. You earn no points for status quo thinking.

You're under increasing pressure to lower your prices no one likes to

compete strictly on price. When your product is clearly superior and offers more

value than lower-priced competitors, you don't have to. Everyone understands that

great new products eventually run their course and turn into commodities. One

day, a customer tells you she can't distinguish the benefits of your widget from

those of one or more of your competitors, and now you are in a price squeeze. If

you want the business, you have to lower your prices to stay competitive. If that
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was where it ended, things might stabilize, although at a lower price level. But

lower prices usually mean lower profit margins, which usually mean less

investment in keeping the product current, which means more price pressure,

lower margins? And so it goes.

You're experiencing higher-than-normal turnover in your sales force good

salespeople want to win customers so they can make more money. When they

have trouble competing, they can't win customers or make money. So they look

for new opportunities and challenges that will bring them what they want. You'll

always have turnover, but heavy turnover is a symptom of something very wrong.

It could be an ill-advised change in the compensation scheme or a new sales

manager coming in with a negative attitude. But it could also be that members of

your sales team are frustrated because they're having trouble selling your

products. When business owners start to pressure their sales forces to get order

levels up, morale drops because the salespeople know there isn't much they can

do.

You're getting fewer and fewer inquiries from prospective customers we

all dread the time when the phone stops ringing and prospects stop coming in.

When advertising or other forms of promotion aren't creating the results you want,

and you see fewer positive results from the money spent, something could be
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wrong with the way customers see your company. An obsolete product line

positions you as an obsolete company.

Customers are asking for product changes you can't or don't want to make

here is a not-too-subtle sign that your product may no longer meet market needs.

There will be times when you have to decide whether filling a customer's request

is in your company's best interests. When customers say "I want it this way," you

may want to say no because you doubt you could ever recover the costs of the

change, even by raising the selling price. But when the customer says "I want it

this way, and it's standard at ABC Widgets," you should suspect you aren't

keeping up with changing customer needs. When your competitors have leapt

ahead of you in features and benefits, you must either catch up or leap ahead of

them with innovations of your own, or you'll fall so far behind you become a

marketplace postscript.

Some of your competitors are leaving the market your competitors drop

out, and you pick up the business they leave behind. The pie is shrinking, and as it

does, business gets better than ever. But beware: This is a classic signal of a

declining market. Nobody walks away from a growth business.

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Theoretical Framework

A Theoretical Process or Process Theory is a system of ideas that explains

how an entity changes and develops:

Idea Generation and Screening

The purpose of the idea generation process and idea screening process are

systematic search new ideas and then reduce the number of ideas to spot the good

ones. Ideas may come from many different sources; it contains internal sources

such as traditional research and development department and employees, and

external sources such as distributors and suppliers, competitors, and customers

themselves. After large number ideas were created via different sources, managers

need to evaluate these ideas and look closely at the prospects in the marketplace.

Although the difference of decision criteria may affect the screening of

new ideas greatly, scholars propose a unified R-W-W framework to effectively

identify potential problems and control risks. The R-W-W framework asks three

fundamental questions about new ideas: ‘Is the market and product real?’, ‘Can

the product and our company win?’, and ‘Is the product worth doing? And the

company should be able to answer all of them before further development the

idea.
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Based on the idea generation and screening theory, at first our group

analysis the feasibility of our new ideas and decide to choose the idea of

deodorant wipe within existing company Unilever. Firstly, regular users of

deodorant are a huge potential consumer group all over the world, and the

deodorant market in the UK has a good momentum of growth. Secondly, existing

deodorant wipes brands do not have a good balance between the price and quality

of their production, and the main competitors of Unilever do not give more

attention to this field, which means the competition of deodorant products are less

than mainstream personal care products. Finally, Unilever is an established and

reliable brand in personal care market and has great experience about relative

products, thus Unilever would not face the challenge of convincing consumers

that they are better than a traditional deodorant, which means the cost and risk of

entering the market is lower.

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Conceptual Framework

Food Park Conceptual Framework

SATISFACTION

PRODUCT
TRUST
QUALITY

PRODUCT
PRICE
ATTRIBUTE
CUSTOMER
LOYALTY

PROMOTION BRAND NAME

SERVICE STORE
QUALITY ENVIRONMENT
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Statement of the Problem

Problems of becoming an entrepreneur and solutions:

1. Cash Flow Management

The Challenge: Cash flow is essential to small business survival, yet many

entrepreneurs struggle to pay the bills (let alone themselves) while they’re

waiting for checks to arrive. Part of the problem stems from delayed

invoicing, which is common in the entrepreneurial world. You perform a

job, send an invoice, then get paid (hopefully) 30 days later. In the

meantime, you have to pay everything from your employees or contractors

to your mortgage to your grocery bill. Waiting to get paid can make it

difficult to get by – and when a customer doesn’t pay, you can risk

everything.

The Solution: Proper budgeting and planning are critical to maintaining

cash flow, but even these won’t always save you from stressing over bills.

One way to improve cash flow is to require a down payment for your

products and services. Your down payment should cover all expenses

associated with a given project or sale as well as some profit for you. By

requiring a down payment, you can at least rest assured you won’t be left
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paying others’ bills; by padding the down payment with some profit, you

can pay your own.

Another strategy for improving cash flow is to require faster invoice

payments. Invoice clients within 15 days, which is half the typical invoice

period. This means if a customer is late on payment you have two weeks

to address it and get paid before the next month’s bills are due. In addition,

more and more companies are requiring immediate payment upon project

completion – and in our digital age when customers can pay invoices right

from their mobile phones, it’s not a stretch to request immediate payment.

You can also address cash flow management from the other side of the

equation by asking your own vendors to invoice you at 45, 60, or even 90

days to allow ample time for your payments to arrive and checks to clear.

If you can establish a good relationship with vendors and are a good

customer, they’ll be willing to work with you once you explain your

strategy.

And if you’re looking for an easier way to pay bills and save

money, consider sending checks via email.

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2. Hiring Employees

The Challenge: Do you know who dreads job interviews the most? It’s not

prospective candidates – its entrepreneurs. The hiring process can take

several days of your time: reviewing resumes, sitting through interviews,

sifting through so many unqualified candidates to find the diamonds in the

rough. Then, you only hope you can offer an attractive package to get the

best people on board and retain them long-term.

The Solution: Be exclusive. Far too many help wanted ads are incredibly

vague in terms of what qualifications candidates must have, what the job

duties are, what days and hours will be worked, and what wages and

benefits will be paid. You can save yourself a ton of time by pre-

qualifying candidates through exclusive help wanted ads that are ultra-

specific in what it takes to be hired at your firm, as well as what the day-

to-day work entails. Approach your employee hunt the same way you

would approach a customer-centric marketing campaign: through

excellent targeting.

Once you have a pool of prospects, arrange for a “walking interview” in

which you take candidates on a tour of their working environments. Ask

questions relevant to the job and to candidates’ experiences, expectations,

dedication, and long-term goals. Don’t act like an overlord determining

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which minion gets to live another day; rather, behave as though you’re

seeking a partner to help you operate and grow your business.

This isn’t to say you have to bend backwards for your employees;

however, it stands to reason that if you make expectations clear for both

parties you can lay the foundation for a long-term, mutually-rewarding

client-boss relationship.

3. Time Management

The Challenge: Time management might be the biggest problem faced by

entrepreneurs, who wear many (and all) hats. If you only had more time,

you could accomplish so much more!

The Solution: Make time. Like money, it doesn’t grow on trees, of course,

so you have to be smart about how you’re spending it. Here’s how:

 Create goal lists: You should have a list of lifetime goals, broken down

into annual goals, broken down into monthly goals, and then broken down

into weekly goals. Your weekly goals then will be broken down into

specific tasks by day. In this manner, what is on your task list in any given

day is all you need to do to stay on track with your lifetime goals

 If any tasks do not mesh with your goals, eliminate it or delegate them
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 If any tasks do not absolutely have to be completed by you, delegate them

 Consistently ask yourself: “Is what I’m doing right now the absolute best

use of my time?”

4. Delegating Tasks

The Challenge: You know you need to delegate or outsource tasks, but it

seems every time you do something gets messed up and you have to redo

it anyway.

The Solution: Find good employees (see above) and good outsourced

contract help, for starters. You might have to pay a little more for it, but

the savings in time (and the resulting earning potential) more than make

up for it.

Next, be ultra-specific as to what you want done. It will take a little more

time at first, but write down detailed steps listing exactly what you want

your help to do. Don’t make assumptions, and don’t assume your help will

be able to think for themselves (they can, but they will complete the job

verbatim because that’s what they’re trained to do). So, don’t say “list

stats in a spread sheet” when you can say “alphabetically list XYZ in the

right spread sheet column, then list statistic A in the next column.” It
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might seem like overkill, but take the time to be specific once and your

help will get it right every time thereafter.

5. Choosing What to Sell

The Challenge: You know you could make a mint if you just knew what

products and services to sell. You’re just unsure how to pick a niche.

The Solution: Admit that you’re weak in identifying prosperous niches,

and delegate the task to someone who is strong in this area. You don’t

have to hire a huge, expensive marketing firm; rather, recruit a freelance

researcher who has experience in whatever type of field you’re

considering entering (retail ecommerce, service industry, publishing, etc.).

Have them conduct market research and create a report with suggested

niches, backed by potential profit margins and a complete SWOT analysis:

Strengths, Weaknesses, Opportunities, and Threats.

This isn’t to say you should have someone else decide for you; however, if

you’re not good at identifying niches it’s a good idea to have someone

who is make suggestions. You can then analyse the suggestions for

yourself to determine if you agree. Taking this step now can save you a lot

of time, money, and hassles later – and it can save your entire business and

livelihood.
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6. Marketing Strategy

The Challenge: You don’t know the best way to market your products and

services: print, online, mobile, advertising, etc. You want to maximize

your return on investment with efficient, targeted marketing that gets

results.

The Solution: Again, if you’re not adept at creating marketing plans and

placing ads, it’s a good idea to outsource your marketing strategy to

someone who is. At this point, all you need is a core marketing plan: what

marketing activities will you undertake to motivate purchases? Give your

planner a budget and tell them to craft a plan that efficiently uses that

budget to produce profits.

This is not the time for experimentation. You can do that later, on your

own or with the advice of your marketing strategist, after you’ve

established a baseline that works.

7. Capital

The Challenge: You want to start or grow your business, but you have

little capital to do it with.

The Solution: There are many ways to earn funding, from traditional bank

loans to family and friends to Kick-starter campaigns. You can choose

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these routes, certainly, but I prefer the self-fuelled growth model in which

you fund your own business endeavours.

Instead of trying to launch a multi-million dollar corporation overnight,

focus on your initial core customers. Continually work to find new

customers, of course, but consistently strive to be remarkable to those

customers you already serve. Word-of-mouth will spread, and more

customers will come looking for you. As they do, develop systems and

business processes that allow you to delegate tasks without sacrificing

quality. Your business will grow slow and steady, and you’ll be able to

solve problems while they’re small.

Think about where you want to be five years from now. Can you get there

without help, even if you have to delay growth a bit while you’re doing it?

This is the best strategy to adopt for small business entrepreneurs. If you

do feel you need funding, however, be sure to consult an attorney to make

sure you’re not giving up too much of your business to get it.

8. Strapped Budget

The Challenge: Even though cash flow is fine, it seems you never have

enough in your budget to market your company to its full potential.

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The Solution: Unless you’re one of the Fortune 500 (and even if you are),

every entrepreneur struggles with their budget. The key is to prioritize

your marketing efforts with efficiency in mind – spend your money where

it works – and reserve the rest for operating expenses and experimenting

with other marketing methods.

Keep a close eye on your money, too: chances are, there are areas you can

skim to free up more funds. Unless an expense is absolutely critical to

your business and/or represents an investment with an expected return, cut

it. In fact, do this exercise: see how lean you can run your business. You

don’t have to actually do it, but cut everything you can and see if you still

feel you can run your business (save for what you have to delegate and

market with). Somewhere in between your leanest figure and your current

budget is a sweet spot that will allow you to be just as effective and leave

funds leftover to fuel growth.

9. Business Growth

The Challenge: We’re assuming you are growing, not that you can’t grow,

and you’ve come to the point at which you can’t take on any more work in

your current structure.

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The Solution: Create new processes that focus on task delegation. Many

entrepreneurs, used to wearing all the hats, find themselves in this position

once they’ve achieved a modicum of success. Because you’re doing

everything, your growth halters to as top when it hits a self-imposed

ceiling. The only way to break through is to delegate tasks to others and

take yourself out of the production end and segue into management and,

finally, pure ownership.

10. Self-Doubt

The Challenge: An entrepreneur’s life is not enviable, at least in the

beginning. It’s extremely easy to get discouraged when something goes

wrong or when you’re not growing as fast as you’d like. Self-doubt creeps

in, and you feel like giving up.

The Solution: Being able to overcome self-doubt is a necessary trait for

entrepreneurs. Having a good support system will help: family and friends

who know your goals and support your plight, as well as an advisory

board of other entrepreneurs who can objectively opine as to the direction

of your business.

Entrepreneurs face many challenges, and volumes have been written about

how to overcome them. Perseverance and intelligence are your allies; use
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them to your advantage keep working toward your goals. Understand that

you’re not the first to struggle, and because of that there are many

resources available to help you get through your darkest days as an

entrepreneur so you can reap the immeasurable rewards that come with

building your own successful business.

Hypotheses

1. There is no significant difference in the assessment of the TUA-CBMA

Graduates of their job satisfaction in their present job when their profile is

taken as test factor.

2. There is no significant difference in the assessment of TUA-CBMA Graduates

on their job performance when their profile is taken as test factor?

3. There is not significant relationship between job satisfaction and level of

performance of the TUA-CBMA Graduates?

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Significance of the Study

This study is deemed beneficial to the following:

Administrators. The study will serve as a policy guide to the

management in areas relating to employee performance improvement and job

satisfaction and it will also further make an impetus the field of organisational

behaviour and human resource management.

Human Resource Development Department. The results of the study

will help them review existing motivational policies and practices which can

enhance work performance and job satisfaction among employees. .

Employees. The output of the study will serve as the basis to plan

programs for development that will lead to employee’s professional growth

Future Researcher. This research would be a catalyst for future

researches. Interested researchers may use this reference and as a source of data.
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Scope and Delimitation of the Study

The study covers the assessment of the influence of product development

in terms of the following such as Product, Price, place and promotion. The

respondents would be the students of College of Business Management and

accountancy, College of Arts & Sciences and Education, College of Engineering

and Information Sciences, College of Hotel & Tourism Management, College of

Medical Technology, St. Lukes College of Nursing.

This research study will be conducted within period 2nd Semester, SY

2018-2019.
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Definition of Terms

Product

 A good, idea, method, information, object or service created as a result of

process and serves a need or satisfies a want. It has a combination of

tangible and intangible attributes (benefits, features, functions, uses) that

the seller offers a buyer for purchase.

 A commercially distributed good that is tangible personal property, output

or result of a fabrication, manufacturing, or production process, and passes

through a distribution channel before being consumed or used.

 A good or service that most closely meets the requirement of a particular

market and yields enough profit to justify its continued existence.

Development

 The process of economic and social transformation that is based on

complex cultural and environmental factors and their interactions.

 The systematic use of scientific and technical knowledge to meet specific

objectives or requirements.

 An extension of the theoretical or practical aspects of a concept, design,

discovery, or invention.

Perspective
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 A particular attitude toward or way of or regarding something; a point of

view.

Food Park

 A park or district with a number of stalls that sells a wide selection or

variety of menu based on a particular food theme.

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CHAPTER 2

REVIEW OF RELATED LITERATURE AND STUDIES

This chapter presents the review of literature and studies are very

significant. This helps in seeking the answer to the problem of this study.

Moreover, it gives the researchers the overview and ideas in assessing of the

brand personality of their preferred Fast Food Chains of the students of Collage of

Business Administration. The reviewed literature and studies are also a big help

to the researchers because these were written by authors who are highly reliable

and have passion for writing about the topic.

In a study titled “Revolutionizing Product Development: Quantum Leaps

in Speed, Efficiency, and Quality”, by Steven C. Wheelwright and Kim B. Clark.

They mentioned that, learning from development projects is one of the most

difficult things that an organization can do. It requires focused effort and

attention and willingness to make hard choices. When a firm seeks competitive

advantage though its development capability, the object is to become better at

designing and developing new products and processes. It is not to succeed just on

a particular project, but continually to build and improve the organizations’

procedures, processes, leadership skills, and tools and methods in order to do

things faster, more efficiently, and with higher quality.

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The project audit of the ABC-4 implies that being good at learning from

development projects requires many of the skills and capabilities that being good

at development it itself requires. Because what we learn cuts across individuals,

work groups, and functions to encompass the development system as a whole, and

because the phenomena that we are examining are themselves complex and often

ambiguous with skill, tenacity, and perspective. In this sense, a project audit is

every bit as much a project—with all the attendant requirements for leadership,

collaboration across functions, clarity of process and objectives, and effective

tools and methods—as the development of a new product or process.

Of course, this does not imply that individuals, small work groups, or even

functions should go about their business and not pay attention to learning

opportunities. Important learning must occur at each of these levels in the

organization. Indeed, a development organization populated by individuals, work

groups, and functions that pay attention to their experience and learn to improve

their operation will be in a much better position to implement a structured

learning process about the development system as a whole. Thus, from senior

management’s perspective, the important mission is to foster an environment in

which learning takes place at each of the levels we have discussed, and to crate
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the capability to learn about the specific development projects through a process

built of several elements, such as the development audit.

Despite learning to learn through the development experience is not easy,

making the commitment and pursuing it vigorously can have significant payoffs.

Indeed, learning form projects is an important element in the organization’s

overall approach to improving its development capabilities. Precisely because

learning and sustained improvement are inherently difficult, they provide—when

done effectively—a source of competitive development. But learning from

projects is only one element, notwithstanding a crucial and vital one, in the

overall problem of building development capability over a long period of time.

According to Peter N. Golder and Debanjan Mitra, new products are the

lifeblood of organizations. Successful new products crate new organizations,

grow existing organizations, raise living standards, and generate wealth. Without

new products, entrepreneurial ventures will never come to life and established

firms will soon perish.

New product performance is the key outcome the new product development

process and can be measured by firm profits, market share, stock market return,

survival rate, and other metrics.

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Clifford Fiore the author of book titled “Accelerated Product

Development: Combining Lean and Six Sigma for Peak Performance”. He stated

that, the current environment in which we conduct business is more intense and

dynamic than is has ever been. Clearly, today we live in a world with rising

expectations. As we continue to move forward in the global economy and

competitions continue to increase, customer’s needs are also increasing. This is

not an issue that affects only certain industries; rather, it’s an issue that has impact

on all businesses. Today’s information age provides customers access to more

kinds of knowledge and information about products and markets than were ever

explored before. With access, customers are afforded the luxury of being highly

selective in the products they purchase, resulting in an intensely competitive

business environment.

Consequently, customers are demanding price reductions in the products

they purchase. They’re looking for improvements in on-time delivery and shorter

cycle times in developing and bringing products to the market. They want their

products to work right with low maintenance cost, and, finally, they’re looking for

a variety of products that match their changing needs. For these reasons, it’s fair
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to conclude that today’s customers are clearly more demanding than they’ve ever

been.

So what effect do these ever-increasing demands have for companies that

provide products to these customers? For companies to remain competitive, they

must respond and adapt to the changing environment. Therefore, the needs of

companies are also changing. In today’s world, companies are looking at how to

produce products with shorter development cycle times, and, correspondingly,

lower development costs. They’re looking for ways to improve program control

that enable them to consequently meet delivery and schedule commitments. And

they’re looking for ways to maintain their profit margins in light of the cost

concessions mandated by their customers. In addition, the global movement

towards trade agreements and more open markets has provided companies and

their competitors with access to larger and cheaper labor pools, which has

included additional pressures to reduce costs.

In conjunction with a company’s overall needs, factory needs are also

changing, whether it is a manufacturing facility within a company or external

suppliers representing a company’s supply chain. Factories are looking to

manufacture products that represent simpler, more producible designs. In

addition, they’re looking to companies to support cost take-out and cost reduction

opportunities that align with the philosophy of continuous improvement.

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The process of developing a product is complex and is influenced by many

factors, including customer needs, market trends, cost, technology, timing of

product introduction, and good old-fashioned human creativity and innovation

among others. Nonetheless, regardless of which set of numbers you believe from

the multitude of research studies that have been conducted, a common theme is

clear. A major opportunity exists for companies to improve the effectiveness of

their product development process, in terms of managing both the process of

creating viable products that benefit the company, and the associated costs in

developing products.

A product is something sold by an enterprise to its customers. Product

development is the set of activities beginning with the perception of a market

opportunity and ending in the production, sale, and delivering of a product.

According to Karl T. Ulrich and Steven D. Eppinger, authors of Product and

Development 4th Edition, the characteristics of a successful product development,

from the perspective of the investors in a for-profit enterprise, successful product

development results in products that can be produced and sold profitably, yet

profitably is often difficult to assess quickly and directly. Five more specific
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dimensions, all of which ultimately relate to profit, are commonly used to assess

the performance of a product development effort:

Product quality

How good is the product resulting from the development effort? Does it

satisfy customer needs? Is it robust and reliable? Product quality is ultimately

reflected in the market share and the price that customers are willing to pay.

Product cost

What is the manufacturing cost of the product? This cost includes

spending on capital equipment and tooling as well as the incremental cost of

producing each unit of product. Product cost determines how much profit accrues

to the firm for a particular sales volume on a particular sales price.

Development time

How quickly did the team complete the product development effort?

Development time determines how responsive the firm can be to competitive

forces and technological developments, as well as how quickly the firm receives

the economic returns form the team’s efforts.

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Development cost

How much did the firm have to spend to develop the product?

Development cost is usually a significant fraction of the investment required to

achieve the profits.

Development capability

Are the team and the firm better able to develop future products as a result

of their experience with a product development project? Development Capability

is an asset the firm can use to develop products more effectively and

economically in the future.

In the study of New Product Development. Robert M. Monczka talked

about the new product development process. It is a series of independent and

often overlapping stages during which a new product (or process or service) is

brought from the idea stage to readiness to full-scale production or operation. As

the product concept move through these stages, the idea is refined and evaluated

for business and technical feasibility; the design is fired up; prototyping and

testing is done; the design is finalized; and preparations for full-scale operations

such as tooling, layout, and equipment are finalized. During this process cost,

performance, timing, quality, and other problems develop, resulting in trade-offs

and changes in the design. The design may be modified numerous times before it

is finalized.
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While the concept and design engineering phases of new product

development incur a relative small portion of total product development costs,

these two activities can commit or ‘lock in’ as much as 80% of the total cost of

the product. Decisions made early in the design process has a significant impact

on product quality, cycle time, and cost. As the development process continues, it

becomes increasingly difficult and costly to make design changes.

Robert M. Monczka stated that, it is crucial, then, for firms to bring bear

as much product, process, and technical expertise as possible early in the

development process. Companies whose development plans are well-aligned with

those of their key suppliers can harness the resources not only to minimize design

and development cycle times while increasing value, but also to minimize the

number, complexity, and cost of design changes throughout the life of the

product.

In Robin Karol and Beebe Nelsons’ perspective. After identifying a lot of

opportunities, choose the best idea/s that can succeed in your market and have the

resources to develop. To do this, using screens that allow only a few ideas to

move into and through the development process. These screens—companies call

as reviews or Decision diamonds—are places where the company’s decision

markers review ideas for products against the company’s strategic criteria and
 33

decide which ideas use some of the company’s scarce resources. Only a small

number of opportunities should pass through the initial Idea screen, it becomes

the property of the cross-functional development team, which works through the

phases and reviews of the product development process.

Local Literature

An article from The Philippine Star dated August 7, 2012 by Louella D.

Desiderio entitled “Businesses urged to use Internet to push products”. It shows

that businesses are advised to use the Internet for promoting their products and

services as more consumers are going online to research before making purchases.

Companies should consider using online advertisements for the products and

services they offer as more and more people are using the Internet to research

goods they plan to buy before making the purchase. It also states that in the

Philippines, the study showed that around 70% of consumers first make a research

of their purchases online even if they purchase offline. This trend shows the

potential of growing the business by going online. It is related to the study

because it informs businesses that online advertising is very effective. It also

shows that whether small or big businesses, they can easily have the benefits of

online advertisements of reaching users at a time of relevance anywhere Local

Study
 34

A research study conducted by Jean Louisse Villanueva Concha and Jossa

Kristine Cruz Soler from University of the Philippines Diliman on April 2012

entitled “The Rise of Online Advertising and its Impact on the Future of the

Philippine Newspaper”. The researchers conclude that online activity has reached

an unprecedented rise owing to the popularity of social networking sites and the

easier accessibility to computers and the internet for more people. As such, and

with more methods of interactive and efficient advertising available online. The

rising online presence causes advertises to invest more online advertising rather

than newspaper advertising and the dwindling of newspaper readership causes

advertisers to flee from the newspaper as another advertising medium has taken

place.

https://www.studymode.com

Foreign Literature

Foreign language and literature is a branch of language arts that

involves the study of languages other than one's native tongue. It concentrates

on teaching people to communicate proficiently in their chosen language,

develop cultural awareness and sensitivity, as well as expand knowledge and

promote appreciation and tolerance for other cultures. The Department of

Foreign Languages and Literatures at BYU-Idaho offers a major in Spanish

Education and minors (both education and regular) in French, German,

 35

Spanish, Russian and Chinese. It also offers an education minor in Teaching

of English to Speakers of Other Languages and a multilingual minor less

commonly taught languages.

What interests and values are related to foreign language & literature?

Students of foreign languages are usually interested in developing cross -

cultural knowledge and linguistic ability. They are patient, adaptable,

tolerant, and seeking intellectual growth.

What career fields are related to foreign language & literature?

 American Indian & Native Languages

 American Sign Language (ASL)

 Asian Languages & Literatures

 Classical/Ancient Languages/Literatures

 Communication Disorders Sciences/Services

 English Language, Literature & Letters

 English/Language Arts Teacher Education

 Foreign Languages Teacher Education

 Foreign Languages/Literatures/Linguistics

 French Language & Literature

 German Language & Literature

 36

 International & Comparative Education

 Modern Greek Languages & Literature

 Near East & Semitic Languages & Literature

 Slavic Languages & Literatures

 Spanish Language & Literature

Studying their literature

Foreign literature studies concerns the comprehensive research of

literature in the language of the country it was written in that includes the study of

the regional and historical circumstances in which it was written. While

examining the author’s personal history and views and the historical context the

work was written in, researchers must also imagine how and why the characters in

the literature act the way they do to better grasp the essence of humanity. Study of

any foreign literature requires acquisition of the language that literature was

written in. For example, in order to study in the field of American and English

literature criticism, studies in modern English and business English is carried out

concurrently with other studies. Knowledge of the country’s culture, thinking, and

daily customs are also essential for understanding the background in which a

work was written.

https://www.jpss.jp
 37

Local Studies

Study local and study aboard education is a never-ending learning process

that has always been a part of our life. As education is a building block in our

lives, we are willing to invest deeply into our education. Good education will

bring us far with that they have to offer our very own future. Recently, there are

numbers of students continue their studying aboard. As the saying goes, the grass

always looks greener on the other side of fence. Many consider study aboard is a

better option. Nonetheless, study abroad and local have their own uniqueness.

They similar in term of nature of competitiveness however differ in fees,

experiences as well as the influences on character.

First of all, major goal of studying is to learn knowledge and same time forge

better characters. Currently in this modern-day and society, every nations focus

on the education sector. Both local and overseas education institutions keep

improving to produce competitive students in future jobs markets, for example

upgrading of facilities, hiring of qualified lecturers and design better teaching

methods. In Malaysia, there are various school that meet specific demands of

students, like universities, colleges, polytechnic, government, private and

parochial school. Hence, students are able to choose their desire school and
 38

unnecessary to study aboard since there are different types of educational

institution exist in local. Modern education concentrate on soft skills, therefore

study aboard or local, students can learn to speak in front public, work in group,

communicate better and so forth.

In comparison, the most obvious different of study local and aboard is the cost

required. This is an undeniable fact that study aboard require additional cost with

the same education one will get. Different countries have different currency rate.

Usually, when we convert our currency to other’s currency, our value will become

smaller.

https://www.studymode.com

Foreign Studies

Foreign studies generally refers to the specific university degrees and

courses which are concerned with the study of ‘the major political, economic,

social, and cultural issues that dominate the international agenda’. Predominant

topics are politics, economics and law on a global level. The term itself can be

more specifically defined as ‘the contemporary and historical understanding of

global societies, cultures, languages and systems of government and of the

complex relationships between them that shape the world we live in’. The terms
 39

and concepts of International Studies and international relations are strongly

related; however, International relations focus more directly on the relationship

between countries, whereas International Studies can encompass all phenomena

which are globally oriented.

History of Foreign Studies

The history of the discipline of International Studies is strongly linked

with the history of the study of international relations, as described in the

International Relations entry. However, the study of International Studies as a

separate entity to International Relations emerged throughout the 20th century,

as an increasingly complex world began to be influenced by globalization, and a

greater number of issues emerged (rather than only inter-country relations). The

discipline was greatly influenced by the establishment of the International

Studies Association, which was established in 1959 by a ‘group of academics

and practitioners with the aim of ‘seeking to pursue mutual interests in world

affairs through the organization of a professional association The establishment

of the association reflected the increasing interest in global issues and reflected

the need for international academic dialogue. Throughout the later stages of the

20th century and into the 21st century, many education institutions worldwide

developed International Studies degrees (both undergraduate and postgraduate).

 40

The emergence and increasing popularity of these degrees reflect the general

patterns of increasing global interconnectedness and globalization, in that

education providers, are becoming more aware that the discipline is becoming

increasingly relevant and necessary in the context of the 21st century. The

discipline has become increasingly popular in Australia as well as in East Asian

countries.

Purpose of Foreign Studies

Many educational institutions have developed International Studies

degrees and courses in order to engage students with the increasing number of

issues and phenomena which have arisen in an increasingly globalized world. As

such, most education providers justify the need for the degrees by relating the

increasing importance of the discipline with real-world situations and

employment opportunities. For example, the University of Technology Sydney

states that the purpose of their International Studies degree is to ‘prepare

graduates for careers and contributions in a world of social and cultural diversity

being transformed by globalization, allowing students to draw connections

between global phenomena and local practices in work and life Often,

universities will relate the study of International studies with other industries.

Monash University describes the relevance for International Studies; ‘as the

world globalizes and nations and economies become more integrated, it is

 41

important to understand our world and the ideas and beliefs of our neighbours

and trading partners. In order to compete in the international marketplaces of

products, ideas and knowledge we need to understand and respect the cultures

and beliefs of others.

https://en.wikipedia.org

CHAPTER 3

RESEARCH METHODOLOGY

This chapter is for understanding the needs and wants of your customers

and having a pulse on the competitive nature and environment of your market,

product research determines the difference between product success and failure

and throughout the product life cycle. At its core, product research helps uncover

unmet product needs, identifies product feature development opportunities, and

identifies awareness and preferences around a product.

Research Design

In this study, the researchers will employ the descriptive research.

According to Bonita Kolb (2008), descriptive research is used when statistical

data are needed on a fact. Accordingly, the tool used to conduct descriptive

research is almost always surveys. The advantage of a survey is that, if the

 42

number of the people surveyed (the sample) is large enough, it can be said that a

fact has been proved and is true of the entire group. Kolb (2008), further claimed

that the descriptive survey data can give answers such as 37% of the consumers of

a certain product. If a number of people asked to complete the survey is large

enough compared to the total population under study, the answer can even be said

to have been proven.

Likewise, in a descriptive research design, Best and Kahn (2006)

explained that descriptive research describes and interprets “what is”.

Specifically, it describes data and characteristics about a population being studied.

It also concerned with the relationships that exist. In other words, it deals with the

relationships between variables, the testing of hypotheses, and the development of

generalizations, principles or theories that have universal validity. Considering

that the objective of the study is to assess factors of loyalty cards that affects

consumer behaviour in terms of ‘brand switching’, ‘product testing’, ‘customer

satisfaction’, and ‘customer commitment’. Thus, the design is applicable.

 43

Population, Sample and Sampling Techniques

The respondents are the students of TUA of an autonomous university in

Quezon City enrolled in the following colleges: CASE, CBMA, CEIS, CHTM,

CMT, and SLCN in Quezon City who uses any form of loyalty cards/programs.

Random sampling technique will be applied in this research according to

Birton et.al, random sampling is the basic sampling technique where we select a

group of subjects (a sample) for the study from a larger (a population). Everyone

is chosen entirely by chance and each member of the population has an equal

chance of being included in the sample.

1. Pricing Your Proposed Service Or Product

Establishing a pricing strategy for a new product or service is an important part of

the development process. You should consider pricing the moment you decide to

take an idea forward as it will determine how much you can afford to invest in the

project.

2. The Project Development Process

 Idea generation - to capture new ideas.

 Idea distillation - to screen out those ideas not worth taking forward.
 44

Concept definition - to consider specifications such as technical feasibility and

market potential. If you're planning a new product, you should consider the design

process now.

 Strategic analysis - to ensure your ideas fit into your business' strategic

plans.

 Concept development - to create a prototype product or pilot service.

 Test marketing and finalizing the concept - to ensure your product or

service can be modified according to customer, manufacturer and

support organizations’ feedback. This means deciding the best timing

and process for piloting your new product or service.

 Product launch - the trickiest stage. Before setting a date you must

determine how to sell, promote and support your product or service.

Getting it right first time is essential. But any decisions to delay your

launch should be balanced against the danger that your competitors

will beat you to market.

In practice some of these stages may overlap, but the presence of a staged process

will help keep timing and costs under control.

3. Creating A Project Team

Every potential new product or service requires a dedicated development team.

 45

In creating your team you need to include people with a variety of skills. For

example, as well as a creative ideas person you may also need a technical expert,

a marketing specialist, someone who can source components and someone who

understands the supply-chain difficulties you could encounter.

 Work as a unit dedicated to one project, reporting to a project manager

 Work exclusively on one project but remain in separate departments

reporting to department heads who are under the project manager

 Work on several projects at once with both a department head and

project manager to monitor progress

4. Investment And Cost Control

Developing new products and services is an inherently risky process. You must

plan any investment carefully and strictly control your costs.

You need to:

 Factor any future investment in products and services into your

strategic business plan

 Plan exactly where this investment will be directed

 Justify the expenditure on every project

 Manage your costs

 46

Before making investment decisions, consider how much your business stands to

gain from a completed product or service. Weigh this against the risks you face.

Phasing New Product Development

One way to minimize your risks is to phase investments in projects. By reviewing

a project at the end of each phase or stage of development, you can identify

products or services that are unlikely to be successful before resources are wasted.

If the product or service fails to meet established criteria, the project is ditched. If

it meets them, resources sufficient to enable it to reach a next, predetermined,

stage are allocated.

Finding Support

A range of government grants and tax breaks is available for research and new

product development.

Cost Control

It's essential to keep a close eye on costs when you develop new products and

services to avoid them spiraling out of control. You should:

 Estimate development costs in advance, as described below

 Monitor expenditure throughout the development process

 Introduce phased investment, as described above

 47

Manage A Development Project

Project managers are essential to ensure the successful development of new

products or services. They'll be responsible for:

 Controlling costs and allocating resources - for further information, see

the page in this guide on investment and cost control

 Drawing up the key parameters for the product or service's

specification

 Coordinating the product development team - for further information,

see the page in this guide on creating a project team

 Timetabling the development process

 Troubleshooting

Timetabling the Development Process

Your project manager should draw up a critical path for the completion of key

tasks. SMART (specific, measurable, agreed, realistic and time-limited)

objectives can help to control and co-ordinate the development team's advance

along this path and stages can be used to monitor progress.

 48

Research Instrument

An adopted modified survey questionnaire will be the main

instrument of the research. The questionnaire contains two main portions. The

first part contains the profile of the respondent and the second part is the Effects

of Loyalty Cards On Consuming Buying Behaviour in terms of brand switching,

product testing, customer’s satisfaction, and customer’s commitment.

Data Gathering Procedure

After the revisions and validation of the instrument, permission to

conduct the study will be communicated to the Dean of the College of Business

Management and Accountancy of Trinity University of Asia. After the approval,

the researcher will personally distribute the questionnaires to the student members

of different colleges of Trinity University of Asia and, also to a selected area near

the university, after giving them time to fill up the instrument, the researchers will

then collect the same.

The respondents will be assured beforehand that strict confidentiality will

be observed by the researcher.

 49

Ethical Considerations

In the conduct of the study, the researcher will consider the following

ethical considerations:

1. Respondents will be briefed fully on the purpose of the conduct of the

research.

2. It will be made very clear to the respondents that participation is voluntary.

3. Data collection and analysis will be described clearly to them so that they

would know what they will be doing.

4. Respondents will be given consent form for them to fill up.

5. Maintain the confidentiality of the information by protecting the anonymity of

the respondents.

6. Employment status of the respondents will no be affected.

 50

Statistical Treatment of Data

In answering specified questions in the first chapter, and to test the

hypotheses and facilitate the analyses of the data gathered through the survey
questionnaire, appropriate statistical tools will be utilized, as follows:

The percentage distribution was used to determine the percentage of the

respondents. The formula is %=f/n (100); where f is the frequency; n is the
sample size and (100) multiplier.

The weighted mean was computed using the following formula

W X i i
X  i 1
n

Where:

Wi = weight of each item or value Xi = represents each of the items or values

n = total number of weights

The computed weighted means will be interpreted using the following scales:

Scale Range Verbal Interpretation

5 4.51 – 5.00 Strongly Agree (SA)

4 3.51 – 4.50 Agree (A)

3 2.51 – 3.50 Either Agree or

Disagree (EAD)

2 1.81 – 2.50 Disagree (DA)

 51

the 1 1.00 – 1.80 Strongly Disagree (SD)

To test hypothesis of non-significance in the assessment of the

respondents, the Analysis of Variance (ANOVA) will be used. The formula for
the ANOVA is as follows:

SST   X
2

 X  2

SSB 
( X C)   X 
2

N n N

Source of Sum of Degree of

Mean Square Computed F
Variation Squares Freedom

Between SSB
SSB k–1 MSB 
column k 1
MSB
F
Within MSW
SSW
SSW k (n – 1) MSW 
k (n  1)
column

Total SST N–1

The hypothesis of no significant difference will be accepted or rejected using 0.05

as level of significance.
 52

REFERENCES

Books and Internet Sources

A. Books

Kolb. (2008). Marketing Research: A Practical Approach. Singapore: SAGE

Publishing.

Kahn, J. (2006) Research in Education: New Delhi: Prentice Hall of India Pvt.

Ltd.

Anderson, David M. Design for Manufacturability & Concurrent Engineering.

CIM Press, 2004.

Bower, Edward K. Specification-Driven Product Development. iUniverse, 2003.

Brandt, John R. "Our New-Product Plan: Keep Out: Involving customers and

others is a pain. So is worrying about manufacturability and marketing." Industry

Week. January 2006.

Kanellos, Michael. "The 64-bit Question: Why is no one buying?" Computer

Shopper. May 2006.

McGrath, Michael. Next Generation Product Development. McGraw-Hill, 2004.

 53

Teresko, John. "New Products Faster." Industry Week. January 2004.

"Who's Who: The Eco-Guide." Time. Summer 2006.

"The World's Most Innovative Companies: Their creativity goes beyond products

to rewiring themselves." Business Week. 24 April 2006.

B. Internet sources

Key stages in the process of product or service development

: nibusinessinfo.co. Feb 3, 2017.

https://www.nibusinessinfo.co.uk
 54

APPENDIX A

Informed Consent

You are invited to participate in this study titled, Perspective of

New Entrepreneurs on Product Development. Your responses are important.

Please answer the attached questionnaire as honestly as possible. These

questions pertain to the job satisfaction of employees in terms of: appreciation &
recognition; communication, co-workers, salary & fringe benefits, job
conditions, nature of the work, organization and supervision, policies and
procedures, and personal growth, promotion & opportunities; Job performance in
terms of: level of identity, level knowledge, level of skills, context performance,
personal factor, and fixed factor.

The researcher does not anticipate that taking this survey will cause any
risk or inconvenience to you nor will affect your employment status.
Furthermore, your participation is voluntary and you may withdraw your
participation at any time without repercussions.

All information collected will be used only for the research and will be
kept confidential.

In the dissemination of the results such as in the written report, you will
not be identified nor the results connected with you. Once the study is completed,
the researcher will be happy to share the results with you if you so desire. If you
have any queries, please contact or communicate with the undersigned.

Return of the questionnaire will be considered your consent to participate.

Thank you.

HAROLD DALE E. CANO

Researcher
09152159851
 55

APPENDIX B

SURVEY QUESTIONNAIRE

EFFECTS OF LOYALTY CARDS ON CONSUMERS BUYING BEHAVIOR

I. Respondent’s profile
Student No.: ___________________ Year level: ___________________
Gender: ( ) Male ( ) Female Age: ( ) 16-18 ( ) 19-21 ( ) 21 and above

College: ( ) CASE ( ) CBMA ( ) CEIS ( ) CHTM ( ) CMT ( ) SLCN

II. Assessment on the transformational leadership practices

The following statements represent opinions. Your perception will be
determined on the basis of your particular beliefs and practices. Kindly ( / ) your
position on the scale to describe your consumer buying behavior in terms of brand
switching, product testing, customer’s satisfaction, customers commitment with
reference to the legend given below:

Legend: 5 - Strongly Agree/Always

4 - Agree /Often
3 - Less Agree/Sometime
2 - Disagree /Once in a while
1 - Strongly Disagree/Not at all

Statements for Reasons to Develop Product through

5 4 3 2 1
innovation
1. The reason for changing product is usually because
it’s an outdated model.
2. I am usually a fan of the latest trend in the market.

3. I switch brand usually because of new functions of

the product.
 56

4. I am usually attracted by new designs.

5. I usually change to another brand because of
convenience.

Statements for Product Popularity 5 4 3 2 1

1. I am testing a new product different to product I
usually buy due to trendsetting.
2. I prefer common product that everyone has
3. I try new product because its unique.
4. I’m usually curios to try new product because it’s
new
5. I try new product because its popular

Statements for Customer’s satisfaction 5 4 3 2 1

1. I want convenience rather than trendy.
2. I want cheap but not that good rather than high
quality but expensive.
3. I want unique than common products.
4. I would test latest model than the usual old one
5. I’m satisfied with the usual convenient rather than
trying new.

Statements for Customers interests. 5 4 3 2 1

1. I rather buy new and trendy than old but proven and
tested.
2. I rather buy latest designs than old fashioned models.

3. I rather buy unique products than common products.

4. I rather buy cheap and productive than expensive and
credible.
5. I am willing to try new product for new functions
added.
 57

APPENDIX C

CURRICULUM VITAE