Success Factors in New Product Introduction: A study on MAXIM Label & Packaging (BD) Pvt.Ltd.

Abstract

Maxim Group was established in Taiwan in 1973. This Maxim Label & Packaging Pvt. Ltd. company is a concerned of Maxim Group which has been working internationally. Saying is a designated organization to settle buyers in readymade garments segment. It is one of the main adornments providers in Bangladesh. The primary movement of Maxim is sending out exchanging of pieces of clothing adornments. This report is essentially in light of the Success Factors in New Product Introduction at Label & Packaging Pvt. (BD) Ltd.

As Maxim is a renowned organization, subsequent to getting a request from the purchaser the obligation goes to the floor of Sales and before going creation they do nearly everything to make the business smooth. At that point test making, item improvement, arranging, booking of each and every material for tests and getting endorsement are all the key obligations of Sales. Dealings should work intimately with a buyer to guarantee the item that is purchased will empower them to accomplish the business design. It's regularly clarified its product success, by acquiring market knowledge and meets the customer requirement. Maxim also tackles it competitors by maintaining a competitive business situation, as getting the correct buyers, in the perfect place, at the suitable time, in the correct amounts at the correct cost. The work procedure of offers starts at getting a request from buyers and end with the shipment of that request.

In this report, descriptive statistics were used to see the patter of various factors that have an impact on the new product introduction and success. In addition, we find some correlation among various success factors with the dependent variable namely product success or failure. It shows that correlation between product success or failure and the five variables is strong and their effect on product success or failure. By the analysis, we found that the marketing knowledge and proficiency affect the product success or failure more. But at this stage, the market dynamism affects product success or failure so much low. Based on the findings several recommendations were forwarded along with the conclusion.