Abstract:
This study is to examine impact of product innovation on the performance of
manufacturing company with a specific reference to Nigerian Bottling Company
Plc, Kaduna. The fundamental objectives of the study are to identify the impact of
product innovation on the sales of Nigerian Bottling Company Plc, to determine
how product innovation improve on the profit of the organization and to ascertain
the level of consumers’ satisfaction of the company. The primary and secondary
sources of data were used for data collection. Questionnaire was administered to
80 staff of the reference organization. Data gathered from the respondents was
analyzed and the finding revealed that shortfall in sales and profit is responsible
for product innovation due to competitors’ market influence; that there is need to
increase company’s turnover and maximize profit ; that consumers’ satisfaction is
enhanced; that shareholders fund should be maximized through increase in rate
of turnover and profit. It was concluded that the idea behind product innovation
does not end in the satisfaction of changing taste of the consumer. It also helps to
increase sales and profit of the organization. It was recommended that companies
should engage in it regular interval so as to cut down the cost of value analysis
strategy which is a segment of product innovation and Companies should ensure
that Research and Development Department as well as other sources where new
product strategic plan emanated from should be explored not neglected.
