ABSTRACT
This
study investigated the effects of product innovation and market performance
using PZ Cussons Nigeria Plc as a study. The major objective of the study was
to determine the effect(s) the innovation of a product has on market
performance. The population of the study was 830 and Taro Yamane formula was
used to determine a sample size of 270 respondents, comprising of Distributors,
and, PZ Employees, and Households. A well-structured copies of questionnaire
was distributed to the respondents to gather primary data for the analysis
after which 250 valid questionnaires/usable survey forms were gotten. In the
method of analysis, the study employed descriptive analysis, and Simple
Bivariate Regression Analysis in varying multiple forms, wherein varying
dependent variables were regressed against their corresponding explanatory
variables, with the aid of an interactive computer software, the Statistical
Package for Social Sciences (SPSS). Product innovation in this study was
proxied with product quality, product packaging, product branding and product
pricing; while competitive market advantage was proxied in the study with sales
volume, profitability, market share, and customers’ attraction, satisfaction
and retention. The findings of the study, in a bid to answer the research
questions, indicated that three of the explanatory variables product quality
(PQLTY) Product Packaging (PPCKG) Product Branding (PBRND) exerted positive
effects on their corresponding competitive market variables Sales volume
(SAVOL) Profitability (PROFT) and Market Share (MKTSH) whereas one of the explanatory variables
product pricing (PPRCN) was found to have a negative effect on its competitive
market variable customers attraction
Satisfaction and Retention (CASRT). On individual hypothesis basis, two of the
explanatory variables (PQLTY and PBRND) were found not to exert any significant
effect on their corresponding dependent variables (SAVOL and MKTSH) whereas the
other two variables (PPCKG and PPRCN) were found to exert significant effect
(positive and negative) on their corresponding dependent variables (PROFT and
CASRT) at 0.05 significance level. The study concluded that the innovation of a
product is a recipe for market performance, as well as the sustainability of
the company. The study recommended among others Companies should strive to
identify and understand social, environmental, organizational and other factors
that influence company’s operational effectiveness and accommodate same in
their innovative processes.
DAVID, O (2022). Product Innovation And Market Performance: A Study OF PZ CUSSON PLC Nigeria. Mouau.afribary.org: Retrieved Dec 23, 2024, from https://repository.mouau.edu.ng/work/view/product-innovation-and-market-performance-a-study-of-pz-cusson-plc-nigeria-7-2
OTI, DAVID. "Product Innovation And Market Performance: A Study OF PZ CUSSON PLC Nigeria" Mouau.afribary.org. Mouau.afribary.org, 11 Oct. 2022, https://repository.mouau.edu.ng/work/view/product-innovation-and-market-performance-a-study-of-pz-cusson-plc-nigeria-7-2. Accessed 23 Dec. 2024.
OTI, DAVID. "Product Innovation And Market Performance: A Study OF PZ CUSSON PLC Nigeria". Mouau.afribary.org, Mouau.afribary.org, 11 Oct. 2022. Web. 23 Dec. 2024. < https://repository.mouau.edu.ng/work/view/product-innovation-and-market-performance-a-study-of-pz-cusson-plc-nigeria-7-2 >.
OTI, DAVID. "Product Innovation And Market Performance: A Study OF PZ CUSSON PLC Nigeria" Mouau.afribary.org (2022). Accessed 23 Dec. 2024. https://repository.mouau.edu.ng/work/view/product-innovation-and-market-performance-a-study-of-pz-cusson-plc-nigeria-7-2