Product Innovation as a Strategy for the Survival of Manufacturing Firms in Nigeria
CHAPTER ONE
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.
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
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.
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.
CHAPTER THREE
RESEARCH METHODOLOGY
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.
CHAPTER FOUR
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:
CHAPTER FIVE
SUMMARY,CONCLUSION AND RECOMMENDATIO
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.
CONCLUSION
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 an 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.
RECOMMENDATIONS
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.
LIMITATIONS OF THE STUDY
- Place
- Lack sufficient to implement projects.
- Lack of knowledge on some responses to questionnaire.
- Lack of corporation by some respondents to questionnaire
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.
REFERENCE
- Akin B.O (1993 Application Marketing , Mc Graw Hill 5c Japan.
- 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.
