Product Innovation — A Viable Option In Competitive Saturated Market. (A Study Frieslandfood Wanco Nigeria Plc)
ABSTRACT
The Topic "Product innovation — A viable option in competitive
saturated market, is studied to search for an improved means of satisfying the
needs and wants of customers at a profit. The need for product innovation is
due to, increased industrialization, mechanization and expansion in
manufacturing. Therefore, it is very necessary that an efficient and effective
strategy is used for value creation by manufacturing firms for the satisfaction
of customers needs and wants at any given time. The broad objective is to
determine the impact of product innovation on the consumer patronage and the
firm's sales volume. Data were gathered from related literatures as well as
from interviews and discussions. Questionnaires were also distributed and
collected. chi-square was used in analyzing the data collected and testing the
hypothesis formulated. The result revealed that, products innovation has
enhanced efficiency, level of competition, profitability; as well as influence
the price of the products. From the finding, it was recommended that companies
should employ an accurate market intelligence research and development so as to
maintain a strong competitive position in the market place. It is expected that
this research work would help improve the orientation of firm on the benefit of
new product innovation strategy
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NWADINOBI, O (2021). Product Innovation — A Viable Option In Competitive Saturated Market. (A Study Frieslandfood Wanco Nigeria Plc). Repository.mouau.edu.ng: Retrieved Dec 26, 2024, from https://repository.mouau.edu.ng/work/view/product-innovation-a-viable-option-in-competitive-saturated-market-a-study-frieslandfood-wanco-nigeria-plc-7-2
OKEZIE, NWADINOBI. "Product Innovation — A Viable Option In Competitive Saturated Market. (A Study Frieslandfood Wanco Nigeria Plc)" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 14 Jul. 2021, https://repository.mouau.edu.ng/work/view/product-innovation-a-viable-option-in-competitive-saturated-market-a-study-frieslandfood-wanco-nigeria-plc-7-2. Accessed 26 Dec. 2024.
OKEZIE, NWADINOBI. "Product Innovation — A Viable Option In Competitive Saturated Market. (A Study Frieslandfood Wanco Nigeria Plc)". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 14 Jul. 2021. Web. 26 Dec. 2024. < https://repository.mouau.edu.ng/work/view/product-innovation-a-viable-option-in-competitive-saturated-market-a-study-frieslandfood-wanco-nigeria-plc-7-2 >.
OKEZIE, NWADINOBI. "Product Innovation — A Viable Option In Competitive Saturated Market. (A Study Frieslandfood Wanco Nigeria Plc)" Repository.mouau.edu.ng (2021). Accessed 26 Dec. 2024. https://repository.mouau.edu.ng/work/view/product-innovation-a-viable-option-in-competitive-saturated-market-a-study-frieslandfood-wanco-nigeria-plc-7-2