Critical Factors Influencing New Product Development Success in Sierra Leone Brewery Limited

Abstract

This research investigates the crucial factors that affect new product development (NPD) in the beverage industry, concentrating on Sierra Leone Brewery Limited (SLBL). Acknowledging the inherent risks and uncertainties in NPD, the study seeks to recognize and assess both internal and external factors that influence the success of new product initiatives at SLBL. The analysis examines key elements (timing, pricing, packaging, testing, competition, market selection, promotional strategies, and brand development) to enhance our understanding of factors shaping new product introductions within the company. The study uses a case study approach, analyzing primary and secondary data to understand SLBL's new product development. It employs a phenomenological research approach involving stakeholders like managers, product developers, marketing personnel, and consumers. The study utilizes the supply chain and distribution theory as a theoretical framework to understand the factors influencing new product development in the beverage industry. SLBL adopts a meticulous NPD approach, using feasibility studies for decision-making. The concept development phase outlines a trajectory and collaboration, serving as a blueprint. Crafting business cases ensures strategic alignment, and the asset and recipe development phase emphasizes innovation. In material ordering, production, and sampling, SLBL prioritizes strategic procurement and stringent quality control. The success of the product launch depends on factors like market timing and effective promotional strategies. Diverse research methods contribute to a comprehensive analysis, and strategic recommendations include innovation, rebranding, extensive promotion, repositioning, and careful financial allocation. SLBL's NPD approach reflects strategic foresight and commitment to excellence for sustained success in a competitive market.