Product Innovation and Performance of Nigeria Bottling Company, Imo State, Nigeria

Abstract

This study examined product innovation and performance of Nigeria bottling company, Imo State, Nigeria. Descriptive survey research design was used and questionnaire served as the instrument of data collection. The data collected were presented in tables and analyzed using simple percentage, and mean statistic. Pearson product moment correlation coefficient (at 0.05% level of significance) with the aid of SPSS version 23.0 was used to test the hypotheses. It was discovered that there is significant relationship between improved product design and sales volume, improved product design significantly relate with customer retention, improved product quality significantly affects sales volume and there is significant association between improved product quality and customer retention. The study concludes that the achievement of sales volume and customer retention in organizations is dependent on how an organization innovates its products (through design, quality); hence innovation contributes to improve sales performance. It was recommended that the product design of firms should be improved on and be priced appropriately to enhance customer retention. Also, firms should improve on product quality to increase market share of the business.