business will die if they don’t every
business will die or lose its grounds on the market if it does not recognise
the effect of new trends. Business like typewriters have given way for the new
computers for their function, so its either the producers of typewriter will go out of business or he if fast
enough to switch over to the new way of
doing the same thing. The new life beverages Nigeria ltd has followed a multi
dimensional innovative proves in order to attain the maximum patronage gut this
plan is not well though out as more is needed
for the goal to be attained
TABLE OF CONTENTS
Title page- - - - - - - - - - - -i
Approval - - - - - - - - - - -ii
Dedication- - - - - - - - - - -iii
Acknowledgements- - - - - - - - -iv
Table of contents- - - - - - - - - -v
Abstracts- - - - - - - - - - viii
1.1 Background of the study- - - - - - - -1
1.2 Statement of the problem- - - - - - - -5
1.3 Objectives of the study - - - - - - -5
1.4 Significance of the study- - - - - - - -6
1.5 Research question- - - - - - - - -7
1.6 Scope of the study - - - - - - - -7
1.8 Definition of terms- - - - - - - - -7
2.1 Introduction to
literature review -- - - - - -9
2.2 Review of current
literature - - - - - - -15
2.3 Summary of literature
review- - - - - - -27
Introduction to the chapter- - - - - 29
3.1 Design of the study- - - - - - - - 29
3.2 Area of the study- - - - - - - - 30
3.3 Population of the study- - - -- -- - - 30
3.4 Sample of the study - - - - - - - - 30
3.5 Instrument for data
collection - - - - - - 31
3.6 Validation of the
instrument - - - - - - 31
3.7 Distribution and
retrieval of the instrument - - 32
3.8 Method of data analysis - - - - - - - 40
DATA PRESENTAITON AND ANALYSIS
4.0 Introduction - - - - - - - - 33
4.1 The presentation and
interpretation of data - - - 41
4.2 Discussion of the
- - - - - - 41
SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction of the chapter - - - - - - 42
5.1 Summary of findings - - - - - - -
5.2 Conclusion- - - - - - - - - 43
5.3 Recommendations - - - - - - - 44
5.4 Limitations of study- - - - - - - - 45
5.5 Suggestion for further Research- - - - - - 45
References- - - - - - - - - - 46
Appendix "A"- - - - - - - - - - 47
Appendix "B"- - - - - - - - - - 48
OF THE STUDY
Consumer product innovation is a subject
newly recognised to be vital to the future of companies, even the government,
realised the important of product innovation to industries at large and its
effect in the competitiveness of the
Nigeria industries in the world matters.
This is because many of the high quality
product needed by customers are been imported by customers but the importation
of these items does not help matter because of government regulations and
unstable nature of our economy. This problem can only be solved if companies
recognise the importance of innovation of new product and develop their ability
on innovation with government giving assistant where and when necessary.
Further more, all products has a life
cycle, which dictates that some point there usefulness will decline. Although
there is substantial valuation in life cycle by types and class of product.
A product cannot be sustained for
eternity and market emotions will work against its immorality. In the light of
this therefore, the need for consumer product innovation by business firm
cannot be over emphasised.
Demand is increasingly dynamic and
product life cycles are getting shorter, products’ life cycle if been comprised
by accelerated research (William Stanton fundamentals of marketing 6th
edition London). For most business to survive in the wave of all the social,
economic, political and cultural changes blacking the view of their horizons
the must embark on product innovation. For a product to effectively meet
customers (need to reduce problems associated with decision in distribution
pricing, advertising and personal selling). A poorly innovated product on the
other hand create many problems for other decision areas in the company.
Organisations are always competing for
survival in the market, growth in market shares, product lines and mix. These
are necessary strategies for survival and attainment of over all objective of
any corporate entity.
this can be achieved through consumer product innovation. Sales of successful
new product goes through a period of growth reaches a peak and eventually
declining maximum sales volume of any company is often reached only after
competition have entered the field and innovation becomes inevitable.
the period that institutions and firms face is such that causes some firms to
wind up or on the other hand periodically pay for it. This has made product
innovation necessary or inevitable.
Finally, innovation can be highly
productive but often a risky road to many companies that are not aggressively
alert to its possibilities.
New life beverage Nigeria limited was
incorporated in November 15th 1989 by Mr Ekeleze Ezemon (managing
The construction of the first factory
commenced on 1990 and was completed on May 1993. In 1993, the factory for hot
drink commenced and in the same year King Edward brand, hot drink was launched
into the Nigeria market. It begins to produce its sound product King Edward
whisky, honey wine, prince Mixon brandy, Jubilee wine, century schnapp white
schnapp etc. in 1994 August, there by becoming of the bent two factories
producing hot drink in the state at that time.
New life beverages Nigeria limited has
an understanding with technical company limited Lagos especially in the area of
new improved production process and equipment, research into raw materials
constant assurance and innovation market techniques.
Recent decline in the
sales of the product of new life beverages Nigeria ltd.
Sleepily decreasing profit.
No new product
introduction or product modification for a long time.
Closure of many depots.
OF THE STUDY
Why life beverages of
Nigeria limited has been experiencing decline in the sales of its product in
The ways in which profit
of the company can be increased significantly.
If a massive staff
retrenchment in the company was necessary.
The reason proffered by
the company for it’s full in new product introduction and modification.
The benefits the firm
would drive from reopening some of its previously closed depot.
OF THE STUDY
study is relevant because
It will increase the
awareness of executives of the need to the product innovation process very
It will aid research
work in related areas such as marketing concept, product differentiation,
marketing mix and so on.
questions were declared vital for this work
Why has life beverages
Nigeria ltd been experiencing decline in the sales of its products in recent times?
How can the profit of
the company be increased significantly?
Was the massive staff
retrenchment in the company necessary?
What reasons has the
company given for its full in new product innovation and modification.
What benefit will the
firm drive from reopening some of its previously closed depot?
OF THE STUDY
scope of this study is limited product innovation and beverage industry.
terms and there definitions are
matrix: A model used strategic marketing
planning. It maps out four potential product market strategies eg market
penetration, product development, market development and classification.
Promotional activity (eg public relations) whose primary purpose is to increase
general knowledge of the company and its product and to make people feel more
positive towards them.
group: A small group of sample customers who
are brought together into a group discussion to measure their response to a
marketing stimulus such as a new product or brand.
Business Unit (SBU): Is a unit of a firm
that has a separate mission and objectives which can be planned independently
from other part of the firms.