THE IMPACT OF PRODUCT INNOVATION ON THE GROWTH OF A FIRM

THE IMPACT OF PRODUCT INNOVATION ON THE GROWTH OF A FIRM

ABSTRACT
The research work at the impact of product innovation on the growth of a firm; this means, the yield that comes from innarating products. This impact ranges from high profitability, high scales volume increase, increase in sales volume, increase in market share and high competitive advantage. This work is divided into five chapters, which reveals the overview of the study, he Nigeria Breweries plc background, statement of the problem, objectives of the study. It also states the research questions, significance and scope of the study, limitation of the study and also definition of terms. Chapter two contains the literature review like various definitions of innovation, concepts of innovation, why companies innovate, innovation strategies and other point relevant to this study. Chapter three contains the research methodology and design, introduction, research design, sources/methods of data collection, population and sample size, sample technique, validity and reliability of measuring instrument and method of data analysis. Chapter four contains presentation and analysis of data, introduction, and presentation of data and interpretation of results. Chapter five has the recommend solution like improvement in marketing research and development. The recommended solutions include proper delivery schedule to make product available at the right time, right place, right quantity and right quality, summary of findings, conclusion, references.

CHAPTER ONE
1.0 INTRODUCTION
The research work looks at
This study explores relationship between innovative activities, profitability and firms growth in Nigeria Breweries Plc Awo – Ommama Owerri innovation is the future of any business and without a contains flows of new products. This is so because, the business environment is fast changing and becoming highly competitive so a consumers’ changes in taste and needs.
`In this study, the researcher addressed a central issue in innovative studies namely:
PERFORMANCE: Does it pay off to become involved in activity? What forms do the benefits of innovation take? Does innovation entrance short run profitability, or does it contributed to a growth, or both or neither.
One important point about innovation is that it is not without cost, it requires the creation of tangible and intangible assets which increases production cost. S second basic argument about innovation and firm performance is that the innovation and firm performance is hat the innovation of new or technically superior product creates temporary monopolies, which improves the business performance of firms.
However, such temporary imperfect competition can clearly be exploited in at least two ways. On the other, firms can raise prices on the imperfect competition can clearly be exploited in at least two ways. On the other, firms can raise prices on the imperfect competition advantage which imperfect returns on sales. Alternatively, firms can hold prices down, leading to more or less sharp improvement in the price-quality ration on the product resulting In increasing sales and profitability (however measured) may improve via innovation, but innovation will improve the growth of the firm.
However, Nigeria breweries plc also Ommama Owerri does have higher rate of growth of sales (which means also, that the absolute amount of profit grows faster than in non innovating firms) and impact of innovation on growth.