IMPACT OF PRODUCT INNOVATION ON THE PERFORMANCE OF MANUFACTURING COMPANY (A CASE STUDY OF NIGERIAN BOTTLING COMPANY PLC, KADUNA)

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.