AN EVALUATION OF PRODUCT INNOVATION AS A STRATEGY FOR THE SURVIVAL OF MANUFACTURING FIRMS IN NIGERIA
CHAPTER ONE
INTRODUCTION
Production innovation is important in any dynamic economy. It determines both the level of economic growth and standard of living of the citizens product innovation takes long to spread through the social system.
Most of the product in the market today have undergone changes overtime. Some that were in the market year ago have phased out with new product are introduced into the market on a continuous basis. When some existing company’s product enter decline stage there is need to carryout product innovation.
Furthermore, customers want new products and competitors must do their best to supply them these products. Competition has played a major role in encouraging Ama Breweries Nigeria Plc Enugu to carry out product innovation. This is because of the desire of the company to better its distinctive advantage over the competitors.
A company can add new product through acquisition and new products innovation. The acquisition route can take three forms. Ones the company can buy other companies, it can buy franchise or license from other company. In those case the company does not innovate new product but acquires the right to existing one.
However, Ama Breweries Nigeria Plc, had suffered much danger and uncertainties in product innovation. This danger are basically on the area of finance and human resource wastage without achieving success, in production of the product innovation which say that its either you innovate those basic factors not withstanding Ama Breweries Nigeria Plc recognized that they act to remain in business for considerable time.
Product innovation which is regarded as introduction of new product or modification of the existing ones either by changing the physically structure of the product or its package or the quality to meet the consumers need of Ama Breweries Nigeria Plc, Enugu and basic concern of this research work.
BRIEF HISTORY OF AMA NIGERIA PLC ENUGU
Nigeria Breweries Plc, incorporated in the 1946, is the pioneer and largest brewing company in Nigeria. Its first bottle of beer star large rolled off the bottling lines of its logos brewing in June 1949. Other Breweries were subsequently commissioned by the company, including Aba Brewery in 1963, and Ibadan brewing 1982.
In September 1993, the company acquired its fifth breweries, sited at Ameke in Enugu State. Ama Breweries is the largest breweries in Nigeria and of the most modern worldwide operation. Enugu brewing were discounted in 2004, while the company acquires a malting plant in Aba in 2008.
In October 2011 Nigeria Breweries acquired majority equally interest in Sona system associates business management limited (Sona system) and life breweries limited from Heineken N.V this followed Heineken acquisition of controlling interest in five breweries in Nigeria.
Sona system is two breweries in Ota and Kaduna, life breweries in Onitsha have now become part of Nigerian Breweries Plc. Together with the three brand, Goldberg, Larger, Malta Gold and life routine of the Lager.
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