PRODUCT INNOVATION AS A STRATEGY FOR THE SURVIVAL OF MANUFACTURING FIRMS IN NIGERIA
This research work is to examine the effect of product innovation as a strategy for the survival of manufacturing firms in Nigeria, a case study of Ama Breweries (Nig) Plc Enugu. To carry out the research work Ama Breweries were uses as a sample which was drawn from zone. In the case of research useful on finding, good application were made which among other include good combination materials as the case may be and as 10 was recovered that it makes to help new product to look more attractive to the people made the product for. In the other hand, product innovation helps the firms to be competing on the newly available products with its competitors. It was also observed that a lot of factors contribute to the failure of the impediment to the success of product innovation which includes product labeling, packaging branding and product. Positioning. Effect has been made to solve all these problem, however relevant information will be obtained from staff of Ama Breweries industries and their distributors through questionnaire moreover, the analysis and data collection of the respondents. Finally, the summary of the findings will help the researcher to make recommendation on the best way to achieve company objectives through innovation.
TABLE OF CONTENT
Table of content
- background of the study
- statement of the problem
- objective of the study
- significance of the study
- research question
- scope of the study
- definition of terms.
2.1 brief introduction
2.2 Review of related literature
2.3 summary of literature review.
3.1 research design
3.2 area of the study
3.3 population of the study
3.4 sample of the study
3.5 instrument for data collection
3.6 distribution and retrieval of instrument
3.7 method of data analysis
DATA PRESENTATION AND ANALYSIS
4.1 findings and analysis
SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5.1 Summary of the findings
5.4 limitation of the study
5.5 suggestion for further research
- BACKGROUND OF THE STUDY
Production innovation is important in any dynamic economy. It determines both the level of economic growth and standard of living of the citizens product innovation takes long to spread through the social system.
Most of the product in the market today have undergone changes overtime. Some that were in the market year ago have phased out with new product are introduced into the market on a continuous basis. When some existing company’s product enter decline stage there is need to carryout product innovation.
Furthermore, customers want new products and competitors must do their best to supply them these products. Competition has played a major role in encouraging Ama Breweries Nigeria Plc Enugu to carry out product innovation. This is because of the desire of the company to better its distinctive advantage over the competitors.
A company can add new product through acquisition and new products innovation. The acquisition route can take three forms. Ones the company can buy other companies, it can buy franchise or license from other company. In those case the company does not innovate new product but acquires the right to existing one.
However, Ama Breweries Nigeria Plc, had suffered much danger and uncertainties in product innovation. This danger are basically on the area of finance and human resource wastage without achieving success, in production of the product innovation which say that its either you innovate those basic factors not withstanding Ama Breweries Nigeria Plc recognized that they act to remain in business for considerable time.
Product innovation which is regarded as introduction of new product or modification of the existing ones either by changing the physically structure of the product or its package or the quality to meet the consumers need of Ama Breweries Nigeria Plc, Enugu and basic concern of this research work.
BRIEF HISTORY OF AMA NIGERIA PLC ENUGU
Nigeria Breweries Plc, incorporated in the 1946, is the pioneer and largest brewing company in Nigeria. Its first bottle of beer star large rolled off the bottling lines of its logos brewing in june 1949. Other Breweries were subsequently commissioned by the company, including Aba Brewery in 1963, and Ibadan brewing 1982.
In September 1993, the company acquired its fifth breweries, sited at Ameke in Enugu State. Ama Breweries is the largest breweries in Nigeria and of the most modern worldwide operation. Enugu brewing were discounted in 2004, while the company acquires a malting plant in Aba in 2008.
In October 2011 Nigeria Breweries acquired majority equally interest in Sona system associates business management limited (Sona system) and life breweries limited from Heneken N.V this followed Leinken acquisition of controlling interest in five breweries in Nigeria.
Sona system is two breweries in Ota and Kaduna, life breweries in Onitsha have now become part of Nigerian Breweries Plc. Together with the three brand, Goldberg, Larger, Malta Gold and life routine of the Lager.
Nigeria breweries Plc, now has eight operational breweries from which its products are distributed into all parts of Nigeria, in addition to the malting plants in Aba and Kaduna.
The company has profound of high-quality brands including Star Larger (1970) place larger, legend extra stout (1990) Abu extra stout, however larger (October 2011), Star life Larger (February 2014), pale large. Ace passion apple spark (December 2014), Alcohol free drinks.
Maltina (1997) in three variation, namely: Maltina classion, Maltina strawberry and Maltina pineapple: Maltina sip-it (200% in Tetrapala, Amsteb Malta (1994), farouz in pear and pineapple (2006) Elimax energy Malta Gold (October 2011).
Most of the products are in returnable bottles and all products are available in c……. Fayrouz is also P.E.T bottles.
The company head office are located in Lagos.
- STATEMENT OF THE PROBLEM
In any competitive market enough, the marketing practitioners is often faced with ordering of how to determine the nature of demand for his product in a given market segment. In view of this, a lot of problems came up to plan for product innovation which include:
- Inadequate capital: inadequate capital has been major problem of Ama Breweries Nigeria Plc, in trying to plan product innovation, it was observed that product innovation requires a lot of capital since a lot of planning has to be made and the management of Ama Breweries Nigeria Plc was unable to provide the capital required. However, this is difficult for the company to innovate.
- Inadequate time for the planning of the product innovation is another factor that militate against the success of the company in an effect to innovate their product. However, the allocation by the management for the planning of product innovation is usually very short which makes it difficult for them to achieve the objective product innovation.
- Inadequate information on product innovation is also another factor that render product as a life wire of every organization planning activities, the organization cannot do without accurate and timely information. However, the organization may be abstained from the company customer, sales people and from the competitor’s activities. In view of this company it was unable to obtain the necessary and required information that will help toward product innovation.
1.3 PURPOSE OF THE STUDY
- The main primary aim of the research work is to defined certain variable usually associated with products and to enhance their effectiveness and to ensure the survival of indigenous manufacturing firms in Nigeria with Ama Breweries Nigeria Plc Enugu as case study.
- To inform the management of product innovation and how it constitutes as a strategy for the survival of Ama Breweries Nigeria Plc.
- To see how product innovation can be used as means for bearing competition.
- It is also important to mention that one of the objectives of the study is for Partial Fulfillment of the Award of National Diploma (ND) in this Institution.
1.4 SIGINFICANCE OF THE STUDY
This project work is conducted to inform the management of Ama Breweries Nigeria Plc about the need of the appraisal for product innovation and how it can constitute a strategy for their survival in the competitive market.
In another development, this project work will enlighten students especially student of the National Diploma (ND) in the Institution of higher learning, the need for appraisal of product innovation as a survival of firm.
1.5 RESEARCH QUESTIONS
- Does your product have life cycle?
- Why is the adequate understanding of the product life cycle important to present and future marketing managers.
- What are usually responsible for the high failure rate of new products in the marketers?
- How can the life cycle of a product be properly managed?
1.6 SCOPE OF THE STUDY
This study covers only renewed companies within Enugu Urban Area. No outside manufacturing companies irrespective of their experience and capacity in manufacturing are stated in this study except for reference purpose.
For these renewed manufacturing companies, this study is structured to consider product strategy only. Therefore all activities were being centered on Ama Breweries Nigeria Plc.
1.7 DEFINITION OF TERMS
Following terminologies are hereby operating defined as the used in this study for a better reading and general compression of this research report.
Packaging: This is the process of putting a general product into shaped and sequential view to make it more attractive and easily portable.
Product: Product is anything that can be offered to a market for attention acquisition or consumption. It includes physical objects (e.g. car).
Industry: Industry according to Oxford Dictionary (1996:411) is the whole firms dealing in the same kind of product.
Target market: This is the most viable and attractive segment of the market wants to offer satisfaction through his or her product.
As part of this project work and so good a foundation of the work attention have been directed to many intelligent personnel’s who have done, some work in this topic.
The followings are the views of this scholar:
- Production innovation according to Actin defined as any new innovation or improved method of producing goods that gives the producer who first introduced it the advantage over its competitors that may amount to temporary monopoly.
Meaning of product: Product according to Kotter in (1980) is defined anything that can be adhered to meant a prevention of question which is used a consumption that might satisfy a need. Here product from his description of product, it then means, that a product can be an object or an item covered by a packaging or a service. A critical look at a product gives that consumers do not buy a product particularly because of its physical structure but due to service we hope and expect that the product will render. This is why Charles Marshal Rexton said that, in the factory we make hip sticks but in store we sell hope.
Therefore but also pointed out that purchasing agent do not buy quarter to drills but they buy quarter inch holes. Again a super sales man Elmer Chanlier would say don’t sell the steak, they sell the sizzle. All that we are pointed out is that we don’t sell a product because of its beauty but what hope the product can do. Also Bach Michael .J. (1968), defined product innovation as anything capable of satisfying a consumers need.
2.2 REVIEW OF RELATED LITERATURE
Product branding: As part of this project work, a look is also directed towards various views by different learned intellectuals on product branding as it related to product innovation as a strategy for survival. Ferred described branding as a name, term, symbols, design or a combination of product identities for the consumers.
Again, they saw it in other perspective but the centre to identify a particular product from competitive product. Cartl and Permealtt (1965) defined branding as the use of a name, term, design or a combination of these to identify a product. It includes the use of brand marks. The brand identities the product for the consumers to relate it to brand and product design.
Also Nigeria marketing association define brand as the way of any parameter as trade name or trade mark, brand mark, brand name, symbols or design or combination of two or more with the intention of identifying the goods and services of the seller, group, sellers differentiation of them from those of its competitors.
According to Gowon’s in (1962) defined product branding as the use of a designator, name or mark on a product to differentiate it from similar competitive product.
Davis while discussing on product policy says that product branding is part of product attributes, that consumer buy based on product branding. Branding a product helps consumers to evaluate product quality. Compare differences of product and make a choice among the various/numerous available brands.
- Brands is a name symbol, term or any other feature that identified the product offerings of the one seller and differentiate its product from its competitor.
- Brand mark: It refers to that part of brand in form of symbol design or distinctive packaging, coloring or lettering which can only be recognized by sight but cannot be spoke, example are the distinctive coloring and lettering of Coca Cola by Nigeria Bottling Company, the colonial gentleman on quarter oats products, the symbol of a Star used on Star Beer etc.
- Brand name: It is a world, and numbers which can be spoke.
- Trade mark: A trade make is a brand name, brend mark or a combination of both that is given legal protection.
A company’s registered trade mark cannot be used by another company because it is a personal property of the company who registered it.
A registered trade mark is follow by:
Branding can fully be defined as a procedure a company follows in researching, developing and implementing its brand name, brand mark and trade mark which a company uses to differentiate its product from similar product offerings by competitors. It should be noted that brand name and brand mark are marketing designations which do not have any legal protection against use by competitor, which are registered as trademark importance of branding.
There are several reason why a firm brands it products and the reason are
- It helps for easier identification of products offered by a given firm.
- It enables a firm to achieve its objective of repeat purchase.
- It helps to develop a favourable relationship between a company and its customers.
- It enable a firm to develop a specific market position for its product.
- It reduces the problem of price comparison since it is different to compare price on two items bearing different brand names.
- It makes shopping easier because every brand represents certain product attributes and hence buying decision problems become minimal.
- It reinforces the prestige of the users.
- It is used in market segmentation to carter for the needs of the different market segments.
- Good brand enhances a company’s image thereby simplifying the introduction of additional products.
- Cooperation from distribution intermediaries is greater to well-know brand.
- Product packaging: Product packaging is one of the most important elements in product innovation as a survival for Ama Breweries (Nig.) Plc (an renewed manufacturing firm in Nigeria).
A good product packaging, as part of productive function is still serving as a communication bell to buyers, describing how, when to use in term of product enclosed in a packaging we direct out attention to see how product packaging related to product innovation as a strategy for the survival. This is why some scholars, includes packaging as a part of product policy. Finally, product packaging involves the development of container, and graphic design for a product. A good product packaging influences a consumer attitude towards consumption of the product. This is why James B. been distilling company makes their packaging an important part of its products.
Beside, Lavish Bottles Ltd, emphasis on the important of packaging, by incorporating design related to polities, sports and animalism in packaging.
According to Stanton packaging is the generally group of activities in product planning that involves designing and producing the container or wrapper for a product. Packaging is also defined as that aspect of product planning in which a firm researches, design and produces a container or wrapper which is capable of protecting the product, facilitation use of that product and promoting the products.
Depending on the nature of product, packaging is highly emphasized by most product managers due to its marketing implications once product manager described packaging as a silent salesman of an organization in a retail store.
A packaging refers to physical container, label and inserts. The container is of different of different forms such as cardboard, metals, plastic, wooden box, cellophane aluminum, grass, wax paper, wrapper etc.
The product brand name and label are closely related to package. The label appears on the package. A product label contains the brand name company logos, trademark, promotional message, ingredients, instructions for use etc.
BASIC FUNCTION OF PACKAGING
The function of packaging includes:
- Packaging offers protection of products against physical and environmental hazard while it is shipped stored or handled, the physical and environmental hazards includes the effect of lights vibration evaporation breakage, infestation, spilling and stock.
- It facilitates product usage: Multiple product usage packaging and larger sizes promote great – product usage product use may be made to be easier through self applicator, squeeze tube. Flip quantities, the package initial quantity is used.
- Package serves as a medium of communication to the consumer.
- It serves as a tool for market segmentation when a firm offers two or several package shapes, sizes, colour or designs.
- It aids product identification – packaging helps to identify a product, on the shelf and distinguish it from other competitive brands.
FACTORS AFFECTING PACKAGING DECISIONS
In making packaging decisions, a number of factors are considered and they include the following:
- The image a firm seeks to establish in the mind of consumer’s with its products is influenced by colour, shape and quality of materials used.
- The firm must decide whether on family packaging should be used. If a family packaging is used, it means that there will be a common element on each package in product line. It makes all firm’s product offering to possess a common feature in packaging.
- A decision must be taken
- A decision must be taken it standard packages will be used worldwide. If an international firm decide to use standard packaging worldwide, the firm may achieve worldwide, the firm may achieve worldwide recognition.
But using standard packages throughout the whole world may back fire because some colours, symbols shapes and designs may have negative innovations in certain countries.
- The cost of packaging should be considered in line with the objectives the firms is seeking to achieve through packaging.
- A decision must be made on choice of packaging materials such as paper board, plastic, metal, glass, wood etc for instance a cellophane is used the package will be very attractive but it can easily arouse fear. Also paperboard is relatively chapen but is often difficult to open.
- The firm must decide on the basic features which must be incorporated in the package. The features include carry handles, shrew on top, see through bags seal and cartons, power sprouts etc. these features may provide a firm with a differential advantage.
- The firm must decide on the size, colour and shape of its packages. In choosing package size, factors such as convenience, shelf-life (how long a product retails it freshness) and competitive are considered. The image a firm wishes to capture through high its products affects the colour and shape of the packages. The use of small, medium and larger size enables a firm to maintain a large shelf space, appeal to different consumer group and make things difficult for competitors to win whole sales and retailer support.
- The appearance of the label and inserts must be put into consideration. The firm must determine the placement, content a size and prominences of the labels package inserts like receipts to direction for use must be noted on the label.
- The use of multiple packaging must be considerable. This is a situation where two or more product item are in one container. It may involve the same product or different products. The essences of multiple packaging are increase consumption get consumers to buy an assortment of items and possibly get them to try a new product.
- The idea of wrapping potion of a derivable product individually should be considered. If portions of a product are wrapped individually. It may offer a firm a competitive advantage through it may be expensive.
- Another area to consider is re-use packaging. The firm must decides whether to produce package that can be used for other purposes after the original content has be consumed. Re-use packaging stimulates repeat purchases as consumer to get more sets of the container.
DISADVANTAGES OF PACKAGING
- Packaging causes environmental pollution. Here, the consumer desires for convince runs across with their desire for a clean environment.
- It depletes out natural resources. This point is offset by the fact that firms increasingly make use of recycled materials and effective packaging also reduce.
- It is extremely expensive, but effective package reduces transportation cost and losses due to product damages.
- It is deceptive and misleading due to inconsistent of designations of package size and dishonesty of label. However, government regulations on packaging have reduce the impact of critics.
iii. Product Labeling: Product innovation as a strategy involved a lot of activities which producers or sellers apply in order to see that his products are commanding reasonable market share profitability. Product labeling is a part of the activities found in product innovation as a strategy for the survival of manufacturing firm of Nigeria.
Different authors have different views about product labeling. According to Cahrles D. scheme and Reuben N. Smith (1952) defined labeling as a part of features that add to ten noble utility. A label supplies information about the product and its seller/product. This may be printed as part of the packaging or its on an attached to the product.
Bush and Houston defined product labeling as a communication instrument designed to communicate or transfer information with actual and potential customers of a firms product.
A label is that part of the product that contains all the relevant information about the product of the manufacturer.
It is also described as part of the package or as tag directly attached to the product.
TYPES OF LABE1
- Brand label: A label is said to be brand label when the brand name alone is attached to the product or package.
- Gadae label: This is the type of label which identifies the quality with word letter or number. These are products that grader labeled A,B,C or 123
- Descriptive label: This type of label gives complete information about the product. Its use ingredients brand name, performance, direction for use or the other features of the products.
Dr. Ideal University of Benin (1941) described product positioning according to John L. Springe Editor of the professional report Washington D.C (use) said that in the early fifties, some companies in the United State of America realize that finishing another on the basis of their goods or services to enable them have distribution possessed by no other competitions. He then defined production positioning as involving the creation of unique product or services and using such qualities to gain favourable consideration from consumer over other competitive product or services in the market.
Again, product positioning accoding to Jerome E. M Certlty Williams was seen in different way.
Furthermore, they defined product positioning as the position of a product in the eye of consumers when compared with other competing brand.
According to Kotler (1969) defined product packaging as activities involve in designing and producing container wrapper for a product from this definition from Philip Kotler, it means that product packaging is not only a container/ wrapper and designing a container if included.
3.1 RESEARCH DESIGN AND METHODOLOGY
The research obtained meaningful information from organization and individual contribution enough for the successful executive. This research project which represents the area of study population department of Ama Breweries (Nig) Plc.
- Users of their product.
- Distributors of Ama Breweries (Nig) Plc Enugu
There, the area or population for this represents (the list containing) all the units from which the sample is selected for company out of the survey to investigate the effectiveness of product innovation as a strategy foe the survival of Ama Breweries (Nig) Plc Enugu.
According to Morris Hainburg (in his book satisfied analysis for decision making) said that population is totally the number of who are at value of research. The sample size means the number of the element in a sample unit since many sample units is Ama Breweries (Nig) Plc Enugu, many sample size is 267. The number of workers include the directors, executives managing supervisors, sales representatives clerk any other group or class of workers in Ama Breweries (Nig) Plc Enugu, again the sampling method used in selecting these 267 workers are random sampling method used in selecting these workers are given equal chance of being selected in sample size.
Finally, the sampling technique used in this project work is the tedious of difficult one here in Ama Brewweries (Nig) Plc Enugu because workers are classified according to the level or position ranging from directors, managers, supervisors, down to the messenger etc, each of the above mentioned some workers were selected at random the sample or representative of that specific class. It means that the specific or interest of every class is obtained.
3.2 AREA OF THE STUDY
The research laid more emphasis on the area of sample based on Ama Breweries (Nig) Plc Enugu State.
3.3 POPULATION OF THE STUDY
The population of customers is estimates to be eight hundred people (800)
3.4 SAMPLE OF THE STUDY
Using the Yaro Yamen formular
1+ N (e)2
Where N = Population
E = Tolerance error = 0.05
1+ 800 (0.05)2
INSTRUMENT FOR DATA COLLECTION
The questionnaire instrument used has been tasked for counted validity, that is the question in the questionnaire dear the subject matter of the study to that extent the instrument ias used and reliable.
3.7 DISTRIBUTION AND RETRIEVAL OF INSTRUMENT
Questionnaire were distributed to all the sample size. Not all were retrieved. Two hundred and sixty seven (267) questionnaires were distributed and two hundred were retrieved.
3.8 METHOD OF DATA ANALYSIS
This study has been conducted are both descriptive and inferential statistic, means and standard deviation and all inferential statistic include suitable statistical test.
Description of analysis tools for testing hypothesis to carry out the test of the above hypothesis, the researcher used question and also applied the technique and the result obtained will also be tasted at 50% level of significant.
DATA PRESENTATION AND ANALYSIS
In this study data collected were analyzed in tabular presentation using percentage.
4.1 The following table rewards the finding of the subject. Questionnaire was designed to validate and distributed to some members of Ama Breweries (Nig) Plc which was used as sample for the study. The response techniques designed by the research was yes/No therefore, the reaction of the respondents was expressed inn percentage as described bellow:
TESTING OF THE HYPOTHESIS
Question 1 in your opinion does competition among various similar product bring about product strategy and effectiveness.
|No of response
The above table shows that 132 (66) agreed that competition among various similar product bring product strategy effectiveness while 68 (34) disagreed.
Question 2: Do you think that good product branding and labeling result in product strategy effectiveness?
|No of response
From the above table 186 (93) said that good product branding and labeling result on product strategy effectiveness while 14 (7) said no.
Question 3: in your opinion do you think that adequate product packaging do not result in effectiveness product strategy?
|No of response
The above table shows that 120 (60) agreed that adequate packaging result in effective product while 80 (40) disagreed with adequate product strategy.
Question 4: in your opinion, is it correct to say that ineffectiveness in product strategy is result of low product quality standard.
|No of response
The above table showed that 106 (53) said that ineffectiveness in product strategy as a result of low product quality while 94 (47) disagreed.
Question 5: in your own view, does product innovation increase your sale and profitability of your company?
|No of response
The table above shows that 186 (93) of the workers agreed that product innovation increased the sale volume and profitability of the company.
Question 6: does innovation in the product of Ama Breweries Plc influence your habit of their product..
|No of response
It Shows that 154 (77) of the customers agreed that thw product innovation influences their buying habit, 34 (17) disagreed while 1 (6) said that the product innovation has no significant influence in their buy habit.
Question 7: does product of Ama Breweries Plc passes all the desire attributes that can satisfy your need.
|No of response
The table above shows that 76 (38 %) of the customers agreed that product innovation of Ama Breweries Plc passes all the desired attributes that can satisfy their need while 124 (62) of the customers disagreed.
Question 8: in your opinion, do you agree that product packaging is better for a company as an innovation strategy that product detection?
|No of response
The above show that 170 (85) of the customer agreed that product packaging detection while 30 (15) of the customer disagreed.
Question 9: do you think there is any problem associated with appraisal of product innovation in any company?
|No of response
The above table shows that 132 (66) of customers agreed that product association with appraisal of product innovation in any company while 68 (38) disagreed.
Question 10: do you that an introduction of product in the market will have a negative effect on the existing product in market?
|No of response
The above table shows that 124 (62) of customer agreed that an innovation of a product in the market will have a negative effect in the existing product in the market while 76 (38) disagreed.
Under table three, it is agreed that adequate packaging result in effective product packaging product will make a product to look more adequate and effective. Under table four, product strategy is important because it help to make product to have high quality command.
Under table five, product innovation when applied in any organization, will help to increase the sales volume and profitability of the company.
Under six, innovation of product in Ama Breweries (Nig) influences the buying habit of a buyer in the way the product is being positioned by company.
Under Seven, Ama Breweries (Nig) have it all the ingredients need by the buyer. This desire attributes will make a buyer to have appetite on the product of Ama Breweries (Nig) and these will boost out the revenue profitability of the company.
DISCUSSION OF THE FINDINGS
The table eight show that many customers agreed on product packaging detection while few of the customers disagreed.
Table nine also show that customers agreed on the problem associated with appraisal of product innovation in any company while few of them disagreed.
Table ten as well show that many of the customers agreed that introduction of product in the market will have a negative effect in the existing product in the market while few did not agree with that.
SUMMARY,CONCLUSION AND RECOMMENDATIO
5.1 SUMMARY OF FINDING
Result obtained from the research finding show that innovation is however characterized by changes and uncertainties. This danger may be wasting of finance and human resources without achieving success in production of the products. The uncertainty may arise as to whether product will survive or die at stage of introduction.
As noted in this research, some competitors wait for other firms to develop a new product for them to initiate. The innovative firms assume all the risk associated with new they are sure, the product has a substantial market share.
Another series problem is the ability of the firm to recognize its competitor and the advantages of the firm. Ama Breweries (Nig) Plc will build to excel more than its competitors. If a company or firm cannot identify its competitor, then the problems of product innovation will be defeated.
Inadequate, innovation strategy planning cannot ensure survive in the increasing competitive market places.
From the research, it was found that failure rate of product may be higher and that will be the objective of innovating as product to excel more than its competitors. If a company or firm cannot identify its competitors, then the problems of product innovation strategy will remain unsolved and then, the aim of product innovation will be defeated.
Inadequate innovation strategy planning cannot ensure survival in the increasing competitive market places.
From the research, it was found that this will improve the objective of innovating a product.
In conclusion, one would see that innovation performs three basic functions : protection, convenience utility and motivation of people to buy and use properly.
This research is one which shows all the innovation function are needed to successfully market consumer goods and why innovation add development of an innovation cannot be divorced from the other parts of the marketing system. In short, it emphasis total use of innovating and to illustrate the need for a ……..innovation development programme to suit ultimate customers.
Also, it had been found out that the success of any firm depends absolutely on the competitive strength of its product in the market. On this ground therefore, include that Ama Breweries (Nig) Plc and other renowned manufacturing firm should do it possible to ensure survival and profitability of its organization.
These recommendation are as supposed to aim at suggesting solution to the problem associated with product innovation a strategy so as to improve its effectiveness as a strategy for survival of this Ama Breweries (Nig) Plc.
It is however, recommended that the firms should have a wide knowledge and instance of the mark its competitors and pricing system so as to know when to innovate its existing products or when to introduce a new product into the market.
Ama Breweries (Nig) Plc Enugu should geared towards improving better marketing offer to the product for the firm to have distributes advantages over its competitors. That is to say firm should have some recourse which set it apart.
Attractive opportunity should be associated to product innovation strategy by the management of the firm so that the aim of product innovation (as a strategy for survival) will be realized. I also recommend that the firm should develop an organization that will ensure that these consumers assigned task are effectively carried out (that is to innovate the product) and this will ensure continued profitability and survival of the firm. Although failure rate of innovating product may be high, it can be lowered and new market targeted and advertising are at increase price lowered and new market targeted.
Finally I recommend that the firm should know the stage of product innovation (research stage, business analysis stage, product develop, task marketing stage and commercialization stage) because inadequate identification of a need read to the design of an ineffective product. Also I recommend that worth to investigate whether the original problem that led to the product innovation was solved.
5.4 LIMITATIONS OF THE STUDY
- Lack sufficient to implement projects.
- Lack of knowledge on some responses to questionnaire.
- Lack of corporation by some respondents to questionnaire
5.4 SUGGESTION FOR FURTHER RESEARCH
- This was conducted one century’s manufacturing industries, it can certainly be examined other manufacturing sectors.
- This examines impact elements innovation. During the duration and process of this project, many factors posed as a constraints to the development of the designed result. This constraints are finance, transportation, time and respondents unwillingness to answer questions. Further research could be extended to Ama Breweries (Nig) Plc Enugu so as to provide further new product of marketing strategies in our society and to verify some of the generalization.
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Bus, S part and Micheal J. Houstin (1972): Marketing Strategy, Foundation Home Wood.
Charles D. Scheme and Rueben N. Smith (1965): Marketing concept and application, 3rd Edition.
Govomic S Candif (1964): Marketing Management. McGraw Hill Book Company, New York.
Kotler P. (1980): Principle Marketing Product Innovation Branding, Packaging and Service Strategy, London Practice hall International lit 2nd Edition.
Pride/Ferel (1995): Basic Concept and Decision New York Mc Graw Hill Edition.
A LETTER OF INTRODUCTION
Department of Marketing
School of Business Studies
Federal Polytechnic, Oko
P.M.B 21 Aguata
The general manager
Ama (Nig) Plc
I am a student of Marketing Department, Federal Polytechnic, Oko. I want to carry out a research project on product innovation as a strategy for the survival of manufacturing firms in Nigeria and you company (Ama Nig) Plc is to be used as a case study of Enugu)
The aim is for purely to academic purpose hence all the information supplied will be of most important and must be treated with confidentiality.
I am grateful for your co-operation and assistance in completing the questionnaire.
Chiezey Eziafa Emmanuel
QUSTION FOR WOKERS
INSTRUCTION: please tick (√ ) for the appropriate indicate by your chosen option.
SEX: male ( ) female ( )
STATUS: junior staff ( ) senior staff ( )
NAME OF ESTABLISHMENT
- Does competition among various similar product being about product strategy and effectiveness?
Yes ( ) No ( )
- Do you think that good product branding and label result in product strategy effectiveness?
Yes ( ) No ( )
- Do think that adequate product packaging do not result ineffectiveness in product strategy?
Yes ( ) No ( )
- Do you think it is correct to say that ineffectiveness in product strategy is as a result of low quality standard?
Yes ( ) No ( )
- In your own view, does product innovation increase your sales and profitability of your company?
Yes ( ) No ( )
- ‘[Does innovation in the product of Ama (Nig) Plc influence your habit of buying their products?
Yes ( ) No ( )
- Does product of Ama (Nig) Plc passes all the desired attributes that satisfy your need?
Yes ( ) No ( )
- Do you agree that product packaging is better for a company as an innovation strategy than product detection? Yes ( ) No ( )
- Do you think there is any problem associated with appraisal of product innovation in any company?
Yes ( ) No ( )
- Do you think that introduction of a product in the market that will have a negative effective in the existing product in the market?
Yes ( ) No ( )
The post PRODUCT INNOVATION AS A STRATEGY FOR THE SURVIVAL OF MANUFACTURING FIRMS IN NIGERIA appeared first on TY Computer Institute.
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