Risk Management in New Product Market Entry Process for the Breweries Industry: The Case of Some Selected Breweries
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Date
2021-06
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A.A.U
Abstract
The main objective of this study was to analyze Risk Management in New product market entry process for the breweries industry. It attempted to describe the risk management practices in new product market entry process and to determine the effect of Risk identification, Risk Assessment, Risk Response, Risk Control and Monitoring on new product performance. The study tested whether risk assessment, risk identification, risk control and Monitoring and risk response of new product had significant effect on product performance or not. In this study, descriptive and explanatory research design were used. Primary data, through structured questionnaire, was collected from samples of 241 respondents of Breweries Company. Stratified sampling was used to select proportional number of samples from the Habesha, St. George and Dashen companies. Data were analyzed using both descriptive and inferential statistics with the help of SPSS version 23. The results revealed that all independent variables in the study, risk identification, risk assessment, risk response, risk control and monitoring have positive and significant effect on new product performance. Hence, the concerned breweries company should review, audit, and communicate risk of new product development properly and strengthen provision of training on risk management for employees and conduct regular reviews of risk efforts and report to management of breweries’ company.
Key Words: Risk Management, New Product Performance, New Product Development, Market Entry, Breweries
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New Product Development, New Product Performance