THE IMPACT OF PRODUCT OF BRANDING ON THE SALES OF CONSUMER PRODUCT.
(A CASE STUDY OF UNILEVER PLC ABA)
This project effectively meets the impact of innovation product towards the growth of a firm and total civilization of the firm objective for continuous and smooth operation.
TABLE OF CONTENTS
1.0 INTRODUCTION - - -
2.1 Review of related literature -
2.1 INTRODUCTION - - -
2.2 Product oriented definition - - -
2.1 What is innovation? - - - -
2.3. Why product innovation - - -
2.4 Producer’s reasons for new product innovation
2.5 TECHNOLOGCAL CHANGES -
2.6 PROFIT MOTIVE - - - -
2.7 PRODUCT GOES THROUGH LIFECYCLE -
2.8 IT IS ESSRNTIA; FOR A DIRM AND NATIONAL GROWTH
2.9 INNOVATION IN NIGERIA BERWERIES PLC
2.10 PERFORMANCE AND DEVELOPMENT IN NIGERI
2.11 INNOVATION STRATEGIES ADOPTED
Research methodology - - - -
3.1 Introductions - - - - -
3.2 Research design - - - -
3.3 SOURCE METHOD OF DATA COLLECTION -
3.4 Data sources
3.5 Sampling size
Data presentation and analysis - -
4.1 Introduction - - - -
4.2 Analysis of research questions -
4.3 Data analysis techniques - - -
Summery of finding, conclusion and recommendation
5.1 Introduction - - - - - -
5.2 Summary of findings - - - -
5. CONCLSUION - - - - -
5.3 Recommendation - - - -
5.4 Bibliography - - - - -
APPPENDIX - - - - - -
The research work looks at the impact of product innovation on the growth of a firm. This means the yield that comes form innovating products. This impact ranged from high profitability, high sales volume increase, increase in market share and high competitive advantage.
This work is divided into five chapters one as the introduction, which reveals the overview of the Nigeria breweries plc background of the study. It also states the hypothesis tested.
Chapter two Contains the literature review like various definitions of innovation concepts of innovation, why companies innovation, innovative strategies and other points relevant to this study.
Chapter three contains the research methodology employed, which includes research design, population of the study, data sources and method of analysis of research questions meted out to consumers and management and staff of NBPLC.
This study explores relationship between innovative activity, profitability and firms growth in Nigeria breweries plc Ama, Enugu, innovation is the future of any business and without a continuous flow of new products, their marketing systems could probably die. This is because the business environment is fast changing and becoming high competitive so as consumers changes in fasts and needs.
In this study the researcher addressed a central issue in innovative studies namely the effect of innovative on a firms performance. Does it pay off to become involved in innovation activity? What forms do the benefits of innovation take? Does innovation enhance short run profitability or does it contribute to a firms growth or both or neither?
One important point about innovation is that it is not without cost, it requires the creation tangible and intangible assets which increases production cost. A second basic argument about innovation and firms performance is that the innovation of new or technically superior product creates temporary monopolies which improve the business performance of firms however, such temporary imperfect competition can cleariy be exploited in at least two ways. On the other hands, firms can raise prices on the basis of performance improvement in the product and this imperfect competition advantage will lead to improved returns on sales. Alternatively firms can hold prices down leading to more or less sharp.
Improvement in the price quality ratio of the product, resulting in increasing sales and profitability (however measured) may not improve innovation will improve the growth of the firm.
However, Nigeria breweries plc Ama Enugu does have higher rates of growth of sales (which means also that the absolute amount of profit grows faster than in non innovating firms) and impact of innovation is primarily on growth.
Nigeria breweries plc (NBPUC) is the country’s pioneer brewery incorporated in 16th November 1946 and commercial production in 1949 it started as a joint venture between the united African company (UAC) international UK and Heineken of Holland thus at inception, it was 100 percent foreign owned the 40% foreign ownership is split almost equally between WA Holdings limited 9 for UNILEVER) and Heineken Bro vwerijen Bv.
Its principal activity include the brewing and marketing of larger beer, show non-alcoholic malt drinks and crush orange. It operate from five brewery locations namely. Lagos, Aba, Kaguna, Ibadon, Enugu but the Aba location has recently shut down.
Due to general recession, dilapidated infrastructure facilities, political instability and the attendant policy inconsistency and high cost of production in Nigeria, the company suffered destining productizing and profit between 1985 and 1996.
However, with consistent, strong and innovative initiative and marketing support for driven customer service strategies, the over all performance of the company was dramatically improved by 1998. all the brands include star, guilder, legand Extra Stout, maltina and Amstel and a range of soft drinks. Schweppes and the new maltina spit.
The company was able to rejuvenate through partnering and networking with international brewery companies (Heineken Technical services, by premium breverage international B.U, Amstel (Bro Uwerijen shares). It also invested in right selection, training and motivation of its brand and substantially launching itself into the new technological spheres in brewery industry.
The significant rise in profit after tax of the company from N1.7 billion between 1997 and 2001 is a reflection of the fact that global connectivity through partnering and networking infects dynamic sources of industrial rejuvenation, with the necessary re-engineering of operation through innovation, right management and networking, the firm emerged as a success story in Nigeria.
The business environment is fast changing competitors emerging daily, business decision and action becoming more risky as the market demands and external forces are forcing many business organizations to move outwards through innovation.
Firms in the presence of these circumstances have to survive and grow or die prematurely. Given the rapid change in taste, technology and competition it becomes risky for a company to rely only on its existing product. This is so because consumers taste and expect new and improved product the affect of competition can be adversely unfavorable to Nigerian Breweries company will launch a new product today tomorrow. If they discovered that rival firms have flowed the market with similar product, satisfying the same needs, this is as a result of the reason why maltina sip it was introduced to capture a sector of the drink market and also respond to major activities of the major competitors. Just as the name suggest, sip it is for convenient carriages what you can take at interval without necessarily gulping the liquid at a time.
Maltina sip it is a modification on the maltina drink in the bottle, it was made to satisfy customers who needed to quence their taste any time, anywhere of which maltina sip it was now put in a disposal pack for easy carriage. The basic aim of the business organization is to constraints by coming up with new product, services and idea, hence the mission statement of Nigerian breweries plc read ‘to be the leading Beverage in Nigeria marketing high quality brands to deliver superior consumer satisfaction in environment friendly way.
The primary of this study is to took at the impact of product innovation on the growth of a firm this study specially will amongst others try to determines the form innovation benefit takes does it contribute to a firms growth of both or neither? Find out whether product modification increase market acceptance of new products.
Identify whether there is a significant difference between the sales revenue of a product before and after being innovated upon.
To what extent has Nigerian breweries plc Ama Enugu succeeded in creating awareness for its products?
Does minor modification in the features of your company product bring about market acceptance if that product?
Does a consumer respond positively to the purchase of your new company’s product.
Does product innovation in the brewery industry bring about increase in sales volume.
1.5 SIGNIFICANCE OF THE STUDY
Business organization justify their economic and social existence through their ability to satisfy their respective customer and one of the ways of achieving these objectives is the product and offered to the needy markets.
When a product is newly introduced into the market place, there is the tendency for positive reactions to the new product by many consumers and as such no company would like to see its sales turnover, market share and profit eroded because if loss of consumer to more innovation products.
In trying to investigate the impact of product innovation the prospect of innovation will be brought to the awareness of marketing system which will help in the growth of a firm.
Numerous brewery industries in various countries all over the world are involved the innovation of their various consumers product in the same vein quite a number of firm are concerned with the innovation of their various product brands. Most of these firm are basically similar in their mode of operation. It would therefore be impractical and practically impossible to conduct a thorough research on all the various bands of the different firms insolvent.
It is as a result if this fact and also due to time factors, financial and other constraint that this study will be delimited to the impact of product innovation on the growth of Nigeria breweries plc Ama Engu.
However, for the purpose of this study, only the growth effects of innovation were held constant the target audience comprising of consumer in federal polytechnic Nekede, Imo State University eating outlet supermarkets, bars and management staff of Nigeria Breweries plc Ama Enugu.
1.7 LIMITATION OF THE STUDY
The researcher uncounted some challenges the course of conducting the research some of the challenges areas from the time constraints which were not fair because who are illiterates. Financial commitment of transportation to various places gathering information. But despite the fact that the research was faced with all these, the research work become a successful one.
1.8 DEFINITION OF TERMS
DILAPIDATED: in a bad state of repair falling to pieces.
INNOVATION: the process of making changes, introducing new ideas, methods, techniques etc.
MARKETING: it is a set of human activities directing at facilitating and consummating exchanges.
NETWORK: a closely linked group of companies
PARTNERING: the state of being a person who take part in an activity with another or others especially one of the owners of business
REJUVENATE: to make something look new in the market.
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